SOL Dominance Hits ATH

In Partnership with io.net

IO continues to be a DePin leader in terms of cumulative fees over the past 3 months, and this detailed thread from HOC helps lay out the case for why decentralized compute will continue to be an important AI trend for many years to come.

SOL Dominance Hits ATH

SOL dominance hit ATHs again today tapping 3.7% of the entire crypto market cap. On the day SOL was flat, BTC was down 1% and ETH was a leader for once, climbing 2%. The big driver of coins today was the movement of $2bn of US Gov BTC (from Silk Road). It appears it will be sold via OTC auctions. The biggest mindshare alt gainers were seen in COMP (which had a governance attack), BCH, LINK, BNB, TIA and BOME. In terms of alt outperformance, BOME, BCH, JITO and MKR all showed notable relative strength.

The onchain landscape has been dominated by the new “cabal” launch NEIRO on SOL (and its ETH copycat). The launch diluted onchain attention away from basically everything. Coins that retained their “attention” well included MUMU, kabosu, SCF, GINNAN, mog, aura, ong and BILLY. Notably, MUMU was again hitting ATHs today at ~$280mm.

Onchain relative outperformance was seen primarily in SOL memes (again):

• GNUS

• SCF

• MSI

• SKBDI

• DUCKY

• ong

• MONGY

• MUMU

DEX bot trading volumes with a pretty sizable spike to over $200mm yesterday, driven by the popular launch of Neiro. SOL DEX bot trading volume dominance also spiked to ~82%, its highest since May. While ETH volumes slipped to ~13%, its lowest since May.

In terms of tokens aged 0-5d with $100k+ of smart holdings, NEIRO, fluffy and HQ gained $200k+ of smart holdings on the EVM side. While on SOL, Neiro and GINNAN were the standouts.

Interesting new projects getting smart follows:

• Pluz

• Er404

• Dumpy.fun

• Turbopump

• The Arena

• Kuru

• Stable Labs

LBP to Watch: Lumoz Node Sale

Lumoz is one of the largest modular compute layer networks with over $4bn in TVL. Lumoz nodes have been selling out quickly, but 3,500 Tier 4 nodes are now available via its node sale launch on Fjord. Nodes provide numerous reward mechanisms, including direct token rewards, Lumoz points and potential ecosystem airdrops. Learn more here.

SMART MONEY CORNER - Presented by chainEDGE

• MIGGLES, GNUS, BITCOIN and PEAS all saw notable EVM smart bids over the last 24 hours

• On SOL, MEW, MUMUM, ong and BRAINLET saw notable smart bids. While smart money took profits in Neiro and GINNAN

• Neiro quickly rose to the #4 spot by smart $ held on SOL, while MUMU, PONKE and SELFIE all saw notable 7d accumulation trends. On the smaller end, LOCKIN, aura and BRAINLET also saw 30%+ 7d smart balance increases

• On the EVM side, PEIPEI and ANDY were the most notable from an accumulation point of view.

MEME OF THE DAY