ETH Onchain is Back

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ETH Onchain is Back

The majors bounced on the day with BTC +2%, ETH up 4% and SOL up 5%. Alts also caught a bid with notable outperformers including 1INCH +21%, GMT +17% and INJ +11%.

While SOL newer launches have lost their shine, TRON is also starting to exhibit signs of rolling over in terms of Sunpump revenue and TRX dex volume.

At the same time, ETH onchain is starting to look SO BACK. VISTA tapped $40mm ATHs today while newer launch FARM has quickly run to $7mm. The “pump fun but on ETH” meta is sort of taking off, with smaller ETH utility coins also showing some signs of actually working. Neiro on ETH also doubled on the day.

DEX bot volumes have continued their bearish trend downwards, but this is primarily driven by SOL gambling losing its luster. ETH’s relative share is at a post March high, which also confirms that ETH onchain is back.

Onchain outperformance on the day included

• PUFFY

• NEIRO

• VISTA

• SHIT

• CHEEKS

• GINNAN

• BRAINLET

Our chainEDGE mindshare data continues to be GOATED, with Neiro, VISTA and FWOG all attention leaders on the day (and have been for some time). Other mindshare gainers on the day included MUMU, BILLY, and BRAINLET.

ETH onchain has been heating up based on new launches with $100k+ of smart ownership. Current candidates under these parameters included VISTA, HUSBY and FARM.

Interesting projects getting smart follows:

• Print.fun

• Grass

• Gradient

• Octoswap

• Grafun

• 3.land

• Snek

• Dahlia

In Partnership with $IO

$IO staking continues to surge, with total tokens staked hitting $2.7mm today. We’re also starting to see the benefits of $IO’s demand side campaign flow through to daily earnings growth which has shown a notable step up in the past week or so.

SMART MONEY CORNER - Presented by chainEDGE

• VISTA and FARM were by far the most popular tokens with smart money on the day (even though it was mostly profit taking)

• SOL showing signs of complete boredom while ETH heats up

• SOL balances have been looking good for newer memes like FWOG, SCF and wDOG

• While ETH smart money has seen notable balance accumulation on VISTA, FARM, MOG, Neiro, KOIN and DSYNC.

MEME OF THE DAY