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The Week Ahead
In Partnership with Mantle
Mantle is gearing up for a big Q4 following its 2mm EIGEN distribution to mETH holders. The chain has also put up some crazy numbers through the first 9 months of this year including:
Grew active users to 1.98mm (up 208%)
mETH TVL increased from $341mm to $1.26bn
Backed fBTC and grew it to $250mm in TVL in 11 weeks.
Q4 is here, and Mantle is coming in hot 🔥
— Mantle (@0xMantle)
1:01 PM • Oct 3, 2024
The Week Ahead
Gm degen. It looks like it’s going to be a big week. BTC is back above $63k and is up 3% in the last 24hr. We also have a major macro event (CPI) later this week. Over the past week, POPCAT has been the top cat in terms of alt outperformance, climbing over 40%. There were some familiar outperformers in TAO, APT and SUI along with some newcomers in OM, W, MOG and WIF. Additionally, POPCAT and SUI are far and away the leaders for alts in terms of CT mindshare at the moment.
But the real fun (as always) is happening onchain. We’ve seen some incredible runs over the past week, including SPX’s run up to $362mm, along with big runs in coins like SIGMA, AURA, GIKO, LOCKIN, PUPS, ZYN and FWOG. Even the top performers in the last 24hr were all up 50%, including:
And while I’ve heard calls for “utility szn”, its really just newer coin XMW which recently hit $40m+ FDV (we called it at $5mm here). Additionally new launch BRUME is catching some attention as well as a potential “real” utility play. But memes are still the star of the show.
After a brief attention grab on SASHA, BRUME is now the onchain attention leader followed by PUPS, FWOG and SPX. There are also some newcomers popping up in the data, including PAC, mini and KEYCAT.
DEX bot trading volumes have remained very strong, which means conditions are ripe for coins to run, especially on the SOL side which is now by far the leader in terms of relative share.
Even Base coins are catching a bid (which is how you know things are heating up). Base coin strength was led by:
From a smart following perspective, Brume has quickly jumped to the number 2 spot in the past 7d. Other notable projects catching follows includes Cortex, suirex, CSI888 and Swipe It.
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0-5d old tokens with $100k+ of smart ownership included BRUME, CB, POCHITA and SASHA
From an EVM smart money perspective, NEIRO and DEGEN were notable coins seeing 7d accumulation
While on SOL, POPCAT, MEW, mini and aura all looked interesting from a smart money accumulation perspective.
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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.