- The Daily Edge
- Posts
- Sidelineoors in Shambles
Sidelineoors in Shambles
In Partnership with NAV Finance
70% of all NAV points are going to be distributed in the first 3 months to reward early supporters. If you unfamiliar with Digits, the CIO of NAV, he’s twice turned $100k into $6mm+. NAV’s directional SIPs continued to outperform BTC & ETH over the last 14 days, and today is the last chance to deposit for the August epoch. Use my code WIZARD to sign up and to learn more about their directional strategy, read here.
Sidelineoors in Shambles
BTC up another 2%, SOL up 3%, ETH up 1%. Stocks are hitting ATHs again, the odds of a September rate cut have risen to 100%, the ETH ETF launches on Tuesday next week and people are still bearish. One of the current “headwinds” remaining for the market is the distribution of Mt Gox funds, which is expected to happen over the next 7-14 days.
Notable 10%+ alt outperformers on the day included WLD, INJ, AR, TURBO, BONK, MAVIA and POPCAT. Importantly, AI coins are finally catching a bid again, so onchain utility szn may be coming back shortly.
MOG hit ATHs again today and seems destined for $1bn market cap. It also led onchain attention on the day at ~10% though lost relative mindshare vs. newer coins FIGHT, MOB and rocky.
From an ETH only perspective, MOG & FIGHT dominated attention at a combined ~78% mindshare. With other notable coins including HashAi, PEIPEI, NPC and ANDY.
While on the SOL only view, things were more evenly distributed, with BILLY back on top, newer launch MOB continuing to retain attention. Along with michi, rocky, mumu, EPIK and lockin.
Relative strength today in ETH & SOL memes, along with HASHAI:
Make ETH onchain great again? ETH’s DEX bot volume share looks to be mounting a comeback, climbing to 33% on the day. Base also saw a noticeable spike to ~5% share. Overall volumes still have not surged much from their ~$100mm/day levels.
Tokens 5d old or less with $100k+ of smart money interest included FIGHT, PEEZY, MIGGLES, MAGOA, PENDY and MAPE on the EVM side of things. While on SOL it was just its own version of FIGHT. This is a notable shift in newer launch appetite towards ETH that we have not seen in quite some time.
Interesting new projects getting smart follows:
Share The Love:
If the content we grind out daily saves you time and brings you actionable insights, kindly share it with a friend, fellow degen or other folks you know in crypto.
SMART MONEY CORNER - Presented by chainEDGE
ETH flows dominated by new launches SWAG & PEEZY, along with RCH
While notable smart bids on SOL included BILLY, STAN, LEEKI and LOCKIN
At the top end, POPCAT is now the smart money favorite with $8mm of total holdings. BILLY smart balances have been trending down while WIF & LOCKIN saw some 7d accumulation. On the smaller end, RETARDIO and aura were notable $400k+ smart balance tokens with double digit accumulation
EVM smart holdings at the top end remained relatively unchanged with ZYN, groyper and WOJACK notable smaller coins catching 7d accumulation trends
MEME OF THE DAY
Like this content? Make sure to subscribe and always be up to date on the fast paced degen market
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.