Nothing Ever Happens?

Study Strength, Study MNT

MNT was a top 5 coin by 24hr strength today, bouncing nearly 50% from its low wicks last night. I’ve long been saying that 2025 is the “Year of Mantle” and it sure feels like momentum is picking up. Messari is taking note of the financial strides the network has made, MNT is now live on Arkham and now AI agents can be deployed on the Mantle network via Layer3. With a packed slate of new product launches in 2025, it is indeed going to be the Year of Mantle.

Nothing Ever Happens?

Absolute insanity in crypto over the last 24hr. We had record breaking liquidations of over $2bn (bigger than FTX and the Covid crash). ETH wicked down over 20% to ~$2,200 while BTC got as low as $92k. The crash was spurred by market concerns over Trump’s Mexico, Canada and additional China tariffs - which also sent the US equities markets down ~2% last night. But, as is tradition, nothing ever happens. Some of the talk of tariffs has softened already (again), BTC is back above $101k, Trump is trying to launch a US Sovereign Wealth Fund (which maybe will be our BTC exit liquidity?). Equity markets were barely down on the day and good tokens are already bouncing nicely.

Top 100 alt strength on the day was led by Fartcoin, XCN, HYPE, ONDO, OM and AERO, which were all up 17%+. While on a 7d basis, just the below crew shook off the deteriorating market, rising 10%+.

Chart of the Day with Vertex

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Onchain markets finally also had a relief bounce after being aggressively down only. Strength on the day was led by newer coins like cloudy along with AI coins like SNAI, sora and AGiXT. Basically all onchain coins outside of TRUMP, Melania and old weak memes were up 20%+ on the day.

From a mindshare perspective, notable gainers on the day included Fartcoin, cloudy, GFM, SNAI and MOBY.

The trenches are still alive and we saw healthy levels of new launch runners (albeit down from the $300mm+ runners per day we saw a few days ago).

And this was with TG trench volumes down to their lowest level since Christmas, hitting ~$178mm.

0-5d old coins with $200k+ of smart ownership included jellyjelly and LUX

Interesting accounts getting smart follows:

• Human

• BGT Foundation

• Distribute John

• Panda Bot

In Partnership with $IO

AI coins have had a tough time, but AI is still going to be this year’s mindshare leader and compute demand still matters. Despite all the noise around AI and compute over the last few days, $IO actually hit a new daily high in revenue on February 1st at $75k!

SMART MONEY CORNER - Presented by chainEDGE

• SOL smart traders were net sellers of most coins over the last 24hr, with smaller pockets of net buying led by VINE and pippin

• Smart balances looking decent, with accumulation in Fartcoin, MLG and arc (with balances down in everything else at the top end).

• On the EVM side, FLAY is probably the most notable coin here, which saw decent smart $ buying over the last 24hrs.

MEME OF THE DAY