Strategic Crypto Reserve..

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Strategic Crypto Reserve..

Brutal day in the markets with BTC down 9%, ETH down 15% and SOL down 20%. Trump announced a Strategic Crypto Reserve over the weekend (which included SOL, XRP and ADA) which gave us a brief pump that we’ve basically fully retraced. BTC went from the $78k lows to $95k highs and now it’s back to $83.8k. The US equity markets selling off today did not help, with the Nasdaq down over 2.6%. Alts overall are getting spanked, with 20%+ declines in Sonic, ADA, VIRTUAL, TRUMP, LDO and BERA. OTHERS has now given back all of its rise since Trump’s election, but there were still a few decent performers over the week including the 34% rise in GRASS. The trench warriors that pivoted to perps after Trump, Melania and Libra seemed to have been liquidated on their shorts on this small pump, and then liquidated on longs as we’ve given back the gains - overall liquidations have averaged over $500mm per day over the last week!

The FTX estate received $430mm in SOL today and given its crime season, a HyperLiquid trader went 50x long with $5m and more than doubled his money, opening the position ahead of the strategic crypto reserve announcement. Despite the terrible conditions, some tokens are still quietly catching a longer term bid, with things like GOUT, ALCH, DOGEAI and COLLAT up over 100% over the last week.

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The trenches saw a few new launches actually work for a bit today, with gay hitting $32mm, baby (deer) hitting $14m and pwease hitting $4-5m. The trenches are so desperate for a runner that even though none of these tokens ran that hard, TG trading bot volume snapped back in a big way, rising nearly 4x from the lows to ~$180m.

Interesting accounts getting smart follows:

• Jungle Rock Capital

• Simon Njala

• Odyn Network

• Solis Protocol

• determinal

In Partnership with $IO

Despite the brutal market, the $IO fundamentals and team continues to crush it. Total network earnings has retained positive momentum and while the team continues to sign meaningful partnerships, including a recent one with chainGPT.

SMART MONEY CORNER - Presented by chainEDGE

• Very little flows on the day from smart money, but DOGEAI has been a notable constant each day

• Pretty incredible to look at how smart money has totally stepped away from this market given lack of opportunities

MEME OF THE DAY