A Quiet Place

In Partnership with Vector Reserve

Vector is launching a new novel solution for the liquid restaking market next week and continues to buy back and burn VEC tokens. In just the past week they have bought back and burnt 40E worth of VEC.

A Quiet Place

The market as a whole is in need of a catalyst or narrative shift. BTC and ETH have been grinding down and are currently trading at $61k / $2.9k. Interestingly, we have seen a (albeit small) spike in May ETH ETF odds in the past few days from ~7% to 14%.

Daily TG/bot trading volumes have levelled out at ~$100mm/ day but in general its mostly PvP trench games going on.

Onchain relative strength was seen in a few coins over the past 24hr, including

• SPEC

• MINI

• CWIF

• MEWING

• pepecoin

• PAC

IO Launching Soon

Io has deployed (but not launched) their token on SOL, so its TGE must be coming up soon. The platform stacks up favorably vs. other large competitors in the DePin ecosystem (see below). Check out this interesting AI x DePin research from Blockworks covering compute DePin in an increasingly AI driven world.

What is Smart Money Up to?

From a pure $ held basis, SOL memes continue to be the leader, with tokens like MICHI currently leading in terms of $ held by smart money. Notable accumulation on the SOL side has been seen in PUPS (despite the price action) and HAMMY.

On the EVM side, TRUMP BANANA, GLM RBN and KEYCAT are notable leaders in smart $ held. In general there is still plenty of appetite for AI tokens, with things like GLM, NMT, DSYNC, ERN and ENQAI all retaining $1mm+ of smart holdings and things like SPEC which leads utility coins in number of $10k+ holders.

Despite a quiet market, there are still plenty of new projects and upcoming onchain tokens coming to market, including

• Jigsaw (all of CT already in seed round)

• summoning

• AnotherUs

• Cosmic

• Venice

• Civita

• banger

• Penki

• Nut Up

• Anera

• Caesareum

• Overload

• Kaichi

• Infinex

MEME OF THE DAY