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More Relief, Trenches Improving
+alts are going up again
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More Relief, Trenches Improving
The equity markets stopped going down today, partially driven by this morning’s cool CPI report. BTC traded up to $84k while ETH & SOL continue to be stuck in the mud. ETHBTC is nearly back to the Covid crash lows and network usage remains anemic, with ETH dropping out of the top 20 protocols by revenue in the last 24hr. Alts continued their relief rally, led by large cap strength in PI, IP, RON, TIA and PEPE. OTHERS is up 11% from the 3/10 lows while BTC dominance is still hovering at 62%.
In other news, Hyperliquid saw some drama today with its HLP taking a $4mm hit from one trader. Meanwhile the recent Bubblemaps token launch, BMT, traded down another 20% to a $80mm FDV. I will now present some hopium charts for BTC from the CT feed:

Chart of the Day with Vertex
PEPE looks good here? Around this level has been supported since the summer of 2024 and its showing relative strength currently. Try app.vertexprotocol.com and trade PEPE with up to 10x leverage.

The trenches are also starting to wake up with a few runners on the day: LORIA traded up to $9.4mm, EIC hit $5.7mm and some older coins are also starting to work again. pwease continued its run, putting in another +40% day while Base coins are actually looking good too, led by doginme and KEYCAT, which were both up 80%+ along with KTA +62% and Cocoro +23%. Other tokens with strength on the SOL side included Fartcoin and Griffain.

chainEDGE onchain mindshare is starting to be a powerful indicator again, with high mindshare tokens (like pwease, EIC and Fartcoin) performing well today.

Trench trading volumes still in the process of bottoming out, but with a few tokens actually running today, I’d expect volumes to start picking up a little.

Top tokens traded by terminal users today included a few rugs along with LORIA, LILX, PROMETHEUS and EIC.


Interesting accounts getting smart follows:
In Partnership with $IO
Maybe I’ve said it too many times, but I’ll say it again: the $IO bd team is truly remarkable. They recently signed an expanded partnership with Filecoin - the initial partnership from December 2023 integrated over 1,500 enterprise GPUs from Filecoin SPs to the $IO network. And this expanded partnership taps into Filecoin’s decentralized network of computers to create a hybrid DePIN model across both Web2 and Web3

SMART MONEY CORNER - Presented by chainEDGE
pwease, Fartcoin, Griffain, UFD and DOGEAI continue to be the current smart money favorites, though still in small size

MEME OF THE DAY

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Disclaimer: This content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. The author may also have positions in the tokens mentioned in the content, so please do your own research.