ETH ETF Launches

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ETH ETF Launches

The ETH ETF launched today, hitting over $1bn in volume, ~20-25% of BTC’s launch. ETH is the only coin showing some strength for once with BTC down 4% and SOL down 6%. Only a few alts with notable outperformance, with SLERF, STMX and ENS all up double digits. Meanwhile TIA, WIF, MEW, POPCAT, BONK and ZRO were all down 10%+.

Dydx was compromised today, Hamilton Lane launched a private credit fund on SOL and Elon changed his profile picture, sending DMAGA swiftly down 80%.

From an onchain attention view, DMAGA obviously led given the amount of people dunking on it / licking their wounds. While boden was the biggest 1d gainer in mindshare (with the token nearly doubling on the news that Biden isn’t dead?) High attention tokens to watch include MOG, hehe, michi, LASER, rocky, BLUE, MUMU, LOCKIN, KAMA, MOTHER and aura.

Very few coins showing strength onchain today

• boden

• KAMA

• SLERF

While DMAGA, BORPA, mini and HAMMY were the biggest losers (above $5mm fdv)

After a brief period of ETH being back, SOL DEX bot trading volume dominance is back on the rise, hitting over 60% again today. ETH was the primarily relative share loser.

In terms of tokens aged 0-5d with $100k+ of smart holdings (aka new launches to watch), only quant on SOL hit our parameters. Extending this to 0-10d brings in MIGGLES, SWAG, FIGHT and PENDY.

Interesting new projects getting smart follows:

• Onikuma

• Meridian

• Moonshot

• Henlo kart

• The Sink

• Narrative

• Augment

• Tomb on Base

• Npc labs

• Chef.fun

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• EVM smart traders primarily buying into MIGGLES and BRETT on Base, each with $100k+ of net buys today

• While SLERF, CATS and POPCAT led SOL smart money buying, with SLERF the far and away leader

• MEW and LOCKIN the only tokens seeing notable smart accumulation at the top end of dollars held. While most others saw position trimming. On the smaller end, SLERF, MOTHER and MONGY were notable outliers in terms of smart $ accumulation

• EVM smart balances down only for the most part, with MIGGLES, PEIPEI and TRUMP seeing 30%+ balance declines. AZUR and groyper were the only coins with notable accumulation trends

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