GOAT Hits $750mm

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GOAT Hits $750mm

Boring day for BTC which was roughly flat at $67.2k. BTC.d is still basically at multi year highs while ETHBTC has hit its lowest level since April 2021. The BTC ETFs had another decent day with $200mm of inflows. While Truth Terminal’s wallet has now surpassed $11mm.

ETH was down over 2% on the day while SOL surged 5%. Accordingly, SOLETH is now surging to fresh ATHs. The strongest top 100 coins on the day were GOAT, POPCAT, JUP, MEW, WIF and SOL. The move in SOL is interesting as a potential top signal for farther down the risk curve onchain coins. This year, each time SOLBTC has broken out it has marked tops in onchain token health. The peaks being March, early June, late July and today.

GOAT continues to be the onchain leader, up another 40% to $700mm on the day. SHAR, which ran to $50mm+ (and was heavily shilled), rugged leaving a lot of trench warriors in shambles. The rest of the onchain market has been a little manic with yesterday’s darlings down 20%+ today including Flavia, slop, autism, ZACK and FLOYDAI. Top onchain relative strength was seen primarily in AI memes including:

• MemesAI

• OPUS

• ACT

• WMM

• LOS

• e/acc

• FOREST

• Fartcoin

• HANA

• OMEGA

• GOAT

We’re near or very close to silly season onchain, with trading volumes on leading terminal Photon hitting its highest by far since March at $200mm.

The number of tokens minted on pump have also surged to ATHs.

Onchain mindshare (excl GOAT) was still led by slop and flavia today. Notable newcomers were seen in COOK, MemesAI, MARK and SHEGEN.

Interesting projects getting smart follows:

• Ant

• illest

• Textural Being

• X Backrooms

• Block Chain

• Falcon Finance

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SMART MONEY CORNER - Presented by chainEDGE

• Top SOL new launches with smart money on the day included SHAR (RIP), ANT and SCOOP.

• 0-5d old tokens with $100k+ balances included the below tokens on SOL

MEME OF THE DAY