Majors Getting Mogged

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Majors Getting Mogged

Majors slipped 5%, with BTC down to $61k and ETH at $3.3k. It has been awhile since sentiment was this bearish, but bears are being fueled by the German Government selling their BTC and the Mt. Gox commencement of payments starting next month. Others have theorized that Jump has been exiting the crypto business and has held prices down despite ETF inflows.

In other news, LayerZero’s daily txn counts are down 98% after its TGE (gotta love this industry). While some initial onchain data for Blast’s TGE has sparked some FUD as well. From an attention point of view, BILLY has been an attention leader since its launch about a week ago. MOG has also been experiencing attention share gains since its recent “attention bottom” on June 17th. Other attention leaders include WOLF, SHOG and DADDY.

Daily TG trading volumes are really starting to break down now, trending back to the late April recent lows. SOL still dominates casino volumes at 63.5% of total volume yesterday.

With almost everything down only, onchain relative strength was seen in just a few coins, including:

• JESUS

• SHOG

• TAP

• RNT

• APE

• MOG

Risk appetite for newer coins is also trending downward, with just a few 10d old or less coins catching $100k+ smart $ bags:

• FN

• MAGANOMICS

• SHOG

• DJT

• BILLY

Some interesting new projects getting smart attention (without tokens):

• Bubbly

• Wonton.fun

• Teleport

• Meme.live

• Uncharted

• B3

• O Bot

• Time.Fun

• Playback

SMART MONEY CORNER - Presented by chainEDGE

• Some of the softest EVM inflows we’ve ever seen in our data, with biggest 24hr inflows at just $24k into XEON, with smaller net buying into AGIX and PENDLE

• The SOL side looked much stronger, with new launch WATER getting $238k of net buys, followed by WIF, POPCAT and BILLY

• Smart money has held onto their DJT positions (totaling $1.8mm) and have been accumulating boden over the past 7d.

• On the EVM side, smart money has been trimming positions at the top end, with 7d balances down across MOG, TRUMP and BANANA.

MEME OF THE DAY