Sidelined Summer?

In Partnership with Io.net

The team at IO continues to sign up meaningful partnerships, like the recent announcement with NavyAI. The platform now boasts nearly 83k of verified GPUs and will see its token launch soon on Solana. Check out this awesome one pager on IO, including some tokenomics details.

Sidelined Summer

ETH tapped $3.8k while BTC has softened a bit to $70k. ETHE is up 40% this week with all signs pointing to an ETH ETF on the way. And interestingly engagement across all the popular onchain TG groups continues to be down only. While CEX coins are still dominating attention, with things like PEPE ripping another 27% to ATHs today, the onchain market has been quietly heating up (and the EVM tourists have mostly left).

In other bullish news, tradfi participants are aping the BTC ETF as ETH beta, with it seeing $292mm of inflows today. Trump has started to accept donations via crypto. And DOGE is starting to gain some traction as another potential ETF candidate after ETH. With this reversal in non-SOL meme sentiment, I published my favorite thesis driven ideas going into the summer, the majority of which have pretty hard catalysts.

Onchain daily TG trading volumes haven’t picked up at all despite the recent ETH (and ETH beta) excitement, though has been holding steady at ~$100mm/day.

Non-SOL new launches are also (kind of) back, with some actual real non rugs launching like CROW, LUMAI, RETIK and AIGPU. Overall, relative strength was seen in memes (again), with a skew towards ETH (for once):

• RETIK

• PEEPO

• DRIFT

• ANDY

• ROOST

• WOJAK

• JOE

• LMEOW

From a smart $ held perspective, TRUMP, QUIL, Pendle and basedAI all saw sustained 7d accumulation, with each boasting $1.6mm+ of smart holdings.

With new non-SOL launches starting to come back, here are the most interesting new projects getting smart attention (without tokens):

• dmarqt

• Splice

• Oracul

• Final Chapter

• SatLayer

• Symbiotic

• Zigma

• Mamba

• degen.fund

• Summoning (mint tomorrow)

In Partnership with Kernel Protocol

Vector Reserve built the first multi-asset liquid restaking solution that gained $20m+ of TVL with its EigenLayer native vETH. The project is set to rebrand as Kernel Protocol & launch a suite of Karak-native LRTs including ksETH, krETH and kUSD. The team has announced that Napier Finance will be a launch partner for its Karak native LRTs.

SMART MONEY CORNER - Presented by chainEDGE

• Smart buys chasing the MOG pump, while other flows were seen in memes, AI and TRUMP

• SOL smart flows were seen into Bonk, boden and mini

• Smart money trimming a lot of SOL meme exposure, especially michi. While PUPS and HAMMY saw 7d accumulation.

MEME OF THE DAY