More Pain for AI Coins

In Partnership with Crypto Tax Made Easy

Want an aspirin for your crypto tax headache?

Crypto Tax Made Easy helped over 200 crypto investors reduce their capital gains by $21.8 Million last year.

If you want an expert to wade through your trades instead of doing it yourself request a quote today

More Pain for AI Coins

Another pretty boring day for the majors with BTC flat, ETH up 2% and SOL down 3%. A narrative violation day as well with ETHBTC up and SOLETH down. AI tokens took a beating today after NVDA’s stock fell 7% after hours after pretty solid results.

Other news of the day included OpenSea getting a wells notice from the SEC and Robinhood Wallet adding SOL support. It’s been an ugly month in crypto but there has been pretty notable strength in a few tokens including HNT, AAVE, TRX and SUI, all of which have outperformed BTC by 20+ percentage points.

Alt outperformers on the day were DOGS, TON, IMX and BANANA. DOGS has been a mindshare leader for a few days now, followed by SUN, TON, WIF and PEPE.

From an onchain attention perspective, FWOG mindshare peaked again and was the largest 1d loser in terms of attention. While boden, michi, PNDC and coby were mindshare gainers on the day. PS, we’re running a short term sale on annual chainEDGE subscriptions. Use code codewiz25pctoff to get 25% off an annual sub and start using our unmatched data to stay ahead of the choppy markets.

Onchain strength was seen in just a few coins including:

• VanGogh

• APES

• PORK

• Neiro (sol)

• Bub

DEX bot volumes have one of their worst few day stretches since January, averaging ~$60mm/day. ETH relative share has also been looking strong though over the last 7d.

New launch PHIL on ETH was the only coin that showed up in our “tokens aged 0-5d with $100k+ of smart holdings”.

Interesting projects getting smart follows:

• Soneium

• SOON

• Barrel

• Abstract

• Instapump

• Parallel

In Partnership with $IO

$IO continues to see a surge in tokens staked, which were up 19% in just the last day to ~800k tokens worth over $1.3mm. Also check out the upcoming spaces with $IO CEO Tory Green on September 4th to learn more about the project’s vision.

SMART MONEY CORNER - Presented by chainEDGE

• PHIL on ETH was far and away the most popular coin with smart money on the day

• While SOL flows were softer outside of POPCAT

• We’re starting to see a trend → SOL balances have been trending down for a few weeks now while EVM side balances have actually looked ok. Could the launch and relative success of TRON memes be sucking the air out of the SOL meme casino?

• Diamond handed balance changes on the EVM smart money side, with Neiro as the most notable outlier.

MEME OF THE DAY