Thanks JPow 👍

In Partnership with $IO

$IO has already cemented itself as a top 4 DePin network by ARR, but this quarter it plans to go even further, with its own full-stack “decentralized AI cloud”, which seems like a one stop shop for compute, AI models and agent creation tools 👀.

Thanks JPow 👍

The Fed paused interest rate cuts today, and currently the market is implying we won’t see cuts until June. Stocks have sold off, with the S&P falling nearly 1%, while BTC also slipped 1% to $101k and change. Top 100 losers on the day were led by DEXE, PENGU, AIOZ and JUP which were all down 8%+. With some abnormal strength seen in XCN and WIF, which were both up 12%+. BTC dominance has been up only again since that brief dip to ~54%, now at nearly 60%.

As the markets digest Powell’s commentary on 2% remaining the inflation target (and with Trump wanting interest rate cuts), the DEX volume to CEX volume trend continues to look incredibly bullish for onchain coins (over a longer term timeframe). Currently the market is basically new launch gambling only, with nearly all existing coins down to flat again today.

Chart of the Day with Vertex

Easy short or could it actually bounce? TRUMP has been down only since its ~$70 peak. Try app.vertexprotocol.com and trade TRUMP with up to 10x leverage.

The onchain market continues to be highly rotational, with nearly all volume just chasing new launches. We saw this with Alon, which went from $1mm to $200mm back to $7mm within just a few days. Today’s volume was concentrated at new launch RIFT which ran to $280mm highs, along with yesterday’s launch PKIN. Other notable strength on the day was seen in STONKS, MILTON, OSOL, FAFO and of course Butthole.

PKIN was the top name by mindshare today, with other notable attention gainers in Fartcoin, GFM and Milton.

TG trench volumes starting to roll over from the recent peak (though still very elevated vs. every other period in the last 12 months at ~$368mm).

0-5d old coins with notable smart holdings included VVV, RIFT, PKIN and stupid.

Interesting projects getting smart follows:

• elizaOS

• FCHAIN

• Nous Research

• Friday AI

• Mentat AI

• GoFundMeme

• Helio

• Good.ai

2025: The Year of Mantle

MNT remains one of the only top 100 tokens holding up over the last 7 days in a down only market, and for good reason: their 2025 roadmap is packed full of new products following its 2024 success (which you can read more about below).

SMART MONEY CORNER - Presented by chainEDGE

• SOL smart buying led by RIFT, NCAT and WIF on the day. While balances looked pretty rough across the board, including a 50%+ decline in Fartcoin smart balances.

• EVM smart money was seen bidding Cult, ENA and VVV, while balances in DOGE were the most notable increase.

MEME OF THE DAY