Max Extraction Szn

In Partnership with Infinit

INFINIT just dropped an alpha version of their DeFAI terminal, which is definitely worth trying out (and likely also sets you up for more Infinit airdrop points).

Max Extraction Szn

BTC dominance topped out at 60% yesterday before shedding ~120bps as alts started to catch a bid again. All the majors basically running in place with BTC at $105k, ETH showing some strength at $3.4k and SOL at $237. Top 100 alts showing some life with strength on the day in LDO, FLOKI, Sonic and PEPE all up 10%+. While over the last week, OM, XCN, JUP, TAO, JTO, HYPE, LDO, MOVE and JASMY were all up 15%.

OTHERS overall does not look too bad and bottomed locally on the 27th. Sentiment on alts still feels pretty beaten down, so this is notable. ETHBTC was up 4% over the last 24hrs after being down only to the March 2021 lows of ~0.03. Could we finally see ETH work (and the follow through to ETH onchain actually being fun again?)

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The onchain market continues to be “runner of the day” focused, with the key meta being max extraction. The trenches still have tons of capital sloshing around (TG bots alone did $538mm of volume yesterday). With trader appetite for non-new launches essentially at zero (given all onchain coins only go down), all of this capital flocks into the hottest launch, sends it to $300mm and then it falls 70%+. We’ve seen this now with jellyjelly, VVV and vine.

Today’s PvP hot potato was led by LUX and HOOD as runners of the day, with each hitting $20mm+. Most other onchain coins continued their down only path, with AI in particular under pressure with GRIFT, arc, anon, pippin, moby and griffain all down 15%+ over the last 24hr. Non new launch high mindshare tokens included TRUMP, UFD, arc and MLG.

Very few tokens showing strength and no clear meta to me (with the “internet capital markets” meta drying up). Leaders over the last 24hr included Buttcoin, Muskit, Stonks, GFM and Pkin.

The onboarded exit liquidity to Moonshot also seems to be drying up, with 90%+ of users not returning following the TRUMP mass onboard event.

0-5d old SOL tokens with $1mm+ smart holdings included jellyjelly (still) and LUX

Interesting accounts getting smart follows:

• lux

• Nikita Bier

• Timeless Martian

• flaunch

• Tokie

• Comfy AI

• portal

In Partnership with Tabi

Tabi has joined the Yapper launchpad on Kaito and will be launching its token soon. If you need a refresher on Tabi and its tokenomic model, this is a good overview here on Proof of Attention.

SMART MONEY CORNER - Presented by chainEDGE

• LUX led smart inflows on the day

• Balances still looking bearish outside of UFD and MLG

• On the EVM side of things, balances look decent, led by positions in Dsync and 0×0.

MEME OF THE DAY