Majors Slip, HYPE Dies Down + PENGU

In Partnership with $IO

$IO was featured as a leading DePin project in Messari’s 2025 outlook + it recently partnered with the one and only Zerebro. Despite some choppy AI coin price action lately, IO continues to put up record daily revenue figures, which recently hit $56k/day.

Majors Slip, HYPE Dies Down + PENGU

The majors are trading lower this evening (almost as if FOMC leaked or something), with BTC down ~3% on the day after hitting new ATHs of $108k. ETH was down ~4% while SOL was flat at $216. The PENGU token dropped (with Pudgy holders making six figures from their airdrop) - the token topped out at ~$5bn FDV and has traded lower since its launch. Moonshot hit an onramp record with Moonpay today and IBIT got $735mm of inflows, the largest since 12/5.

There were no signs of strength within the top 100, though laggards were seen in LDO, APT, ENA, FTM, ENS and STRK. BTC is now up 85% since Germany sold (lol) and the Fed is expected to cut rates by 25bps today. PENGU dominated mindshare on the day, while HYPE flipped AIXBT, and Fartcoin was just behind XRP.

12/16 saw a massive spike in new HYPE users (which coincided with a bit of a top with the token nearly hitting $30) - this is probably worth tracking going forward to monitor how HYPE’s fundamentals fare with the token not going straight up.

HYPE coins basically across the board all moved lower with HYPE putting in a local peak.

Chart of the Day with Vertex

SOL bottom soon? Sentiment has turned negative for the chain (despite it still being the by far #1 venue for shitcoin gambling) and we’re nearing the $200 “lose this level or it’s lights out”. Try app.vertexprotocol.com today and trade SOL with up to 10x leverage

Onchain rotations have been fierce but metrics on SOL are still holding up well. A lot of previously good tokens like APPLE, h2w, TETSUO, CULT, DOGE, BLINK, GOAT, BULLY, FRED, ALCH and Mizuki were all down 15%+ on the day. Though there still were pockets of strength in things like Luigi, MemesAI, TRUST, arc, OCTO, fxn, RIF, REALIS, LMT and GRIFT. Fartcoin also tapped $900mm ATHs (and is spreading like wildfire across TradFi circles).

Onchain mindshare was dominated by PENGU on the day, though notably attention for SOL AI coins rose across the board and was led by arc, GRIFFAIN, ai16z and TANK. The new launch runner of the day was UFD, which is currently at $30mm.

SOL metrics in general looked pretty good despite the negative sentiment on the timeline. Pump daily txns have held up well, as have Photon volumes (which is a good sign for the SOL trenches).

Interesting projects getting smart follows:

• Richard Ptardio

• Bainance Labs

• Gattaca

• daos.world

• Limitus

• nightelf

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SMART MONEY CORNER - Presented by chainEDGE

• Fartcoin led smart money buying on the day, followed by STD, UFD, Zerebro and RIF

• New launch UFD has quickly jumped to a $4.5mm smart balance across 24 wallets while arc, zerebro and fartcoin lead overall AI bags by $10k wallets held.

• EVM smart inflows were led by GASP, CULT, XYO and BEAM

• While balances looked weak outside of BITCOIN, FROGE and KIBSHI.

MEME OF THE DAY