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Hey SOL Sister

SOL is trading like it has an ETF going live tomorrow, trading up 3% today while BTC was up 1% and ETH was flat. From a news flow perspective, Biden dropped out of the US election and Gary Gensler will be resigning next year. The ETH ETF goes live tomorrow but all attention seems to be on BTC & SOL. It will be interesting to see ETH’s illiquidity at play with staking rates at ATHs and balances on exchanges at all time lows, paired with how successful BTC’s ETF has been, getting more net inflows YTD than QQQ.

Alt relative strength on the day was seen in MEW, TIA, AEVO, MYRO, WIF, ETHFI and DOGE. From an attention point of view, MEW and DOGE led mindshare, with MEW and TIA the biggest mindshare winners on the day.

In onchain land, newer coin DMAGA has been dominating attention with MOG, michi, lockin and rocky the net mindshare losers over the past 7 days. MUMU, KAMA, NPC, hehe and MANIFEST were all notable attention gainers on the day. MUMU in particular is hitting ATHs and was called out as one of our top picks in our premium newsletter.

Onchain relative strength on the day led by DMAGA and OPSEC:

• DMAGA

• OPSEC

• BILL

• OBEMA

• CAT

• BORPA

• WAFFLES

• ELON

Overall DEX bot volumes have sustained their recent uptick, with SOL & BASE notably dominating relative share today at the expense of ETH & BSC.

There were ZERO tokens aged 0-5d with $100k or more of smart money holdings, illustrating the softness in the new launch market. Bringing up these parameters to 0-10 days shows DMAGA as the clear leader with $1.1mm of smart holdings along with MIGGLES, SWAG, PENDY, FIGHT and PEEZY.

Interesting new projects getting smart follows:

• Moonshot

• Henlo kart

• The Sink

• Narrative

• Augment

• Tomb on Base

• Npc labs

• Chef.fun

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SMART MONEY CORNER - Presented by chainEDGE

• SHFL, CHR and MIGGLES led smart buying on the day on ETH

• While TRUNK, DMAGA and WIF led smart buys on SOL

• At the top end, POPCAT again is the smart money favorite with ~$9mm of total smart holdings. WIF, MEW and LOCKIN were the most notable from a 7d accumulation perspective. While on the smaller end, MOTHER and MONGY also picked up some smart accumulation in the past week.

• On the EVM top end of smart holdings, MIGGLES has climbed to #3 by dollars held, while most other balances were flat to down. AZUR, SHFL and PEAS were the most notable tokens with smart accumulation.

MEME OF THE DAY