Lose This Level & Lights Out

In Partnership with $IO

The $IO team continues to rack up meaningful partnerships, including recent ones with Flock and Chainbase. Additionally, $IO staking is really starting to see a pick up in terms of adoption, with tokens staked up another 55% in 2 days to over $2mm. Check out the upcoming spaces with $IO CEO Tory Green on September 4th to learn more about the project’s vision.

Lose This Level & Lights Out

The market continues to be boring with crypto severely lagging the equity markets. The S&P is basically at ATHs while the NASDAQ is within 4% of its highs. BTC was flat on the day with ETH up 1% and SOL down 1%. ETH ETF flows have been a giant disappointment which has certainly not helped (though SOLETH is down ~6% from the highs).

The alt and onchain markets feel truly dead with the majors so quiet. But there are 2 important trends to watch at the moment if you are a shitcoin observer.

1- ETH DEX bot trading volume share has been quietly making a comeback, with its relative share steadily rising for most of August. This is usually a decent signal that ETH onchain is improving.

2 - Tron vs. SOL. Since the launch of Sunpump, TRON DEX volume has been $1.5bn/week, which has pulled the air out of the SOL meme casino. SOL DEX volume comparatively has seen monthly volumes fall from ~$55bn to ~$35bn.

Alt outperformers on the day were UMA, FET, AAVE and SUPER. While mindshare gainers on the day were DOG, DOGE, DOGS and EIGEN.

Newer launch BRUH has been taking up a decent amount of onchain mindshare, while on SOL, FWOG, SCF and GINNAN are attention leaders. With GINNAN and coby the largest mindshare gainers on the day.

Onchain tokens with relative strength:

• SUNCAT

• IVFUN

• BRUH

• FWOG

• BULL

PHIL and BRUH on ETH again were both were newer coins with $100k+ of smart chainEDGE ownership.

Interesting projects getting smart follows:

• Gradient

• Parlay

• Level

• Merv

• Grass

LBP To Watch:

The GammaSwap LBP has officially kicked off on Arbitrum. $GS is the first onchain perpetual options protocol, which makes it easy to trade things like volatility onchain. The LBP is currently live and trading at a sub $1mm market cap 👀.

SMART MONEY CORNER - Presented by chainEDGE

• Absolutely nothing notable from an EVM smart money flows perspective over the last 24hr

• While SOL was equally as quiet outside of POPCAT

• SOL smart balances continue to trend in a bearish direction, with notable “strength” in POPCAT, MEW, SCF and LOCKIN.

• While on the EVM side, things are relatively better, held up by bullish accumulation in MOG and NEIRO.

MEME OF THE DAY