🥜🐿️ The Daily Edge is BACK

Mantle & COOK

The COOK token for mETH Protocol is now live. The Mantle ecosystem is seeing its mindshare increase and for good reason: It’s backed by one of the largest treasuries in crypto ($2bn+) and mETH is now the 4th largest LST. COOK is the governance token for mETH, and will help accelerate both the growth of mETH and the Mantle ecosystem in general.

🥜🐿️ The Daily Edge is BACK

The crypto markets have cooled off a bit since Thursday, with BTC down ~4% to $69.5k ETH & SOL also slipped ~5%. ETH in particular is now down 35% from its initial ETF hype pump while BTC dominance continues making new highs at 60.3%. The market will likely continue to be quiet until we find out the results of the US elections early next week. Alts (coins excl top 10) have remained consistently ugly since the March highs, falling ~45% so far.

From a perp coin mindshare perspective, GRASS was the biggest attention gainer in the last 7d followed by DOGE and DOG.

The onchain market has been basically down only since the 10/24 DEX bot trading volume top (if you are reading this, it shouldn’t be a surprise). The big runners of today were seen in PNUT and FRED after federal officials broke into someone’s house and killed someone’s pets (lol). The push into these coins knocked even more air out of the AI meme meta, which saw basically everything (including GOAT) fall 20%+.

Even high attention winners of just a few days ago like LUCE have dipped 70%. As we have often written about, the market is just a wheel of attention dilution, with one day’s hot coin sucking up the attention from yesterday’s runner. Pnut, LUCE and FWOG were the highest attention tokens over the last 24hr.

DEX bot volumes clearly peaked on 10/24 and have started looking to roll over which is quite bearish for most coins. SOL continues to be dominant from a market share perspective, but as volume falls, most coins will continue their path downward.

There were only a few notable onchain outperformers on the day including:

• FRED

• PNUT

• TOAD

• EARL

• KAMA

• BSWAP

• HARAMBE

• TEE

Interesting projects getting smart follows:

• Sisyphus AI

• Expanding Space

• PVP

In Partnership with $IO

$IO keeps on looking bullish, with high DePin mindshare, a new partnership with GAIB and of course continued momentum in daily GMV at $25k/day.

SMART MONEY CORNER - Presented by chainEDGE

• SOL tokens with the highest concentration of $10k+ holders are pictured below and were led by Pnut and LUCE. Some other notable coins in here are Nailong, suwi, mini and LOCKIN

• 0-5d old tokens with $100k+ of smart ownership were led by Pnut along with ZEREBRO, FRED, suwi and FRIDGE.

• Notable tokens with smart money bids over the past week included ai16z, wQUIL, GRASS, RZLR, KIRA and GNON

MEME OF THE DAY