Daily Memecoin Recap - October 27

Majors are pumping. Looks like this week's going to be good 👀

A16z Dao
#degenai -> hit $2 .5m to $37 .8m (15.1x), bot that analyzes top memes and apes for the dao
#ai16z -> hit $97 .5m, pmarca's fund
#pmairca -> hit $4 .3m, based on pmarca, 5% given to the Ai16z fund
$yes -> hit $3 .8m, A16z Dao community coin, 9% given to Ai16z wallet, good CT meme
$eliza -> hit $1 .1m, ai16z's mascot

NFT Artists Launching
$eye -> hit $21m , launched by Jesperish, well respected in the NFT community
$sad -> hit $3 .5m, launched by SkiluxDesigns

Artificial Intelligence
$tate -> $13 .7m to $29m , Tate Terminal pushing for ATH, cobratate
$kira -> hit $14 .2m, powered by a decentralized AI network
$avb -> hit $4 .9m, Autonomous Agents
$mcb -> hit $4 .9m
$zoa -> hit $4 .1m
$pumpai -> hit 3.4m, claims to be an AI web agent that trades memes
$kraken -> hit $820k

USA Election
$usa -> $20m to $40m (2x)
$47 -> $1 .4m to $5m (32.1x),realDonaldTrump 47th president

More Cooks
$ban -> $33m to $67m (2x)
$sigma -> $31 .5m to $66m (2.1x)
$sma -> $130k to $5 .8m (44.6x), speculation around iruletheworldmo who ran #gpt2
$wiz -> $972k to $3m (3.1x), wizard dog
$retire -> $50k to $1 .1m (22x), "the last play before I retire"
$henlo -> hit $2 .85m
#othebys -> hit $1 .8m
#popgoat -> hit $1 .7m, $popcat + $goat
$pape -> hit $1 .5m, $ape + $pepe
#redcircle -> hit $1 .4m
$myst -> hit $1 .1m, $64k + in LP Rewards
$toad -> hit $940k
#terminal -> hit $800k , religion for truth_terminal
#NuCouché -> hit $773k
#pumpland -> hit $672k , PumpFun Land in Roblox
$sai -> hit $489k
$flip -> hit $442k
$no -> hit $270k , $yes beta

We need someone to create something so unique that it jumpstarts a new meta

Any ideas what the next meta will be?

Daily Memecoin Recap - October 15

Feels like happy land right now

Artificial Intelligence Bots
$medusa -> hit $31 .2m, heavily pushed by suganarium
#floydai -> hit $17 .2m, launched in April, coming back from the dead with the recent AI meta, George Floyd
#terminal -> hit $15 .2m
$arcane -> hit $1 .55m
#perseus -> hit $900k
- AI coins continue to take the spotlight
- They bullpost their own coin 24/7

Goat First Mover
$goat -> $97 .2m to $182 .1m (1.87x), leader of the AI meta, truth_terminal
$megs -> hit $6 .9m, truth_terminal ( $goat ) often speaks to megs_io
$wen -> hit $1 .85m, shilled by truth_terminal

Anime Meta
$gmika -> hit $8 .39m, AI waifu that you can private chat with on telegram
$amber -> hit $1 .2m, AI bot
$waifu -> hit $589k
$an /gel -> hit $320k

Animal Meta
$miharu -> $321k to $7 .2m (22.5x), Miharu The Smiling Dolphin
#meowmeow -> hit $7 .63m, tiktok trend about an AI animated cat (AI + Cat metas)
$atlas -> hit $2 .13m, new SeaWorld penguin
$mole -> hit $1 .5m, Mole The Sloth
$popo -> hit $1 .21m
#quaestio -> hit $457k , paleontologists may have discovered earth's oldest moving animal
$podcat -> hit $435k , cat on podcast
#popcorn -> hit $411k , popcorn the wood dog, viral dog

Good Volume
$autism -> $2 .48m to $14 .7m (5.93x)
$btcat -> $550k to $3 .57m (6.49x), first cat to appear on the blockchain
$mod -> $10k to $490k (49x), moon or dust, launched on July 22, has been dead since
$higher -> hit $2 .89m, time to go higher
$nigma -> hit $1 .69m, $sigma beta
$cash -> hit $1 .64m, moneys calling
$late -> hit $1m
$twk -> hit $862k , Those Who Know
$forest -> hit $578k

Eth Memes
$klaus -> hit $44 .5m, Matt Furie Meta
#wizard -> hit $5 .7m, pushed by Nate_Rivers, $cb on $eth instead of $sol

More Cooks
$moji -> hit $10 .63m, purple pickle emoji
#wolfina -> hit $3 .76m, woman version of $wolf
$wolf -> hit $1 .64m, Wolfius Maximus of Solstreet, $goat beta
$uman -> hit $1 .47m, we are all human
#retardia -> hit $1 .3m, #retardio beta
$viper -> hit $1m
$god -> hit $680k
$solo -> hit $572k , you can do it alone
#johnson -> hit $550k , Oh Long Johnson
$bud -> hit $536k
#100m -> hit $390k
#visualize -> hit $320k
$hd -> hit $308k , hits different
$mm -> hit $288k , memecoin millionaire

Just imagine how much everything's going to run once $btc breaks ATH

🟡 In the USA, the Supreme Court has authorized the US government to sell 69,730 BTC from the Silk Road case.

If they really sell them in the next few days, we risk having a much bigger correction than expected.

On September 20, Reown, formerly WalletConnect, announced the launch of its Solana Appkit, a comprehensive developer tooling platform designed to simplify Solana ecosystem development.

The move promises to amplify Solana connectivity, leveraging a range of essential services that aim to expand the ecosystem. Best known for its expansive EVM network, Reown facilitates over 15M monthly wallet connections across 100+ blockchains.

Solana’s inclusion in Reown’s substantial list of supported chains comes following the network’s meteoric growth throughout 2024. Reown CEO Jess Houlgrave contends that the Solana Appkit’s launch could spearhead a new wave of applications on the network:

"The Solana ecosystem has stood out since its inception in 2020. Solana instantly drew interest from developers and teams throughout the industry, resulting in some of the biggest and most recognizable projects to date. The launch of the Solana AppKit will act as a catalyst for further growth, the AppKit simplifies building apps and ensures the best experience for end-users. We're excited to see what teams can do with these new tools". - Jess Houlgrave, Reown CEO.

What Can Developers Expect From Reown’s Appkit?
Reown’s Solana Appkit aims to streamline the development process, amplifying application connectivity across the ecosystem. The new tooling platform promises a range of essential features, including:

WalletConnect Network integration.

Simplified email and social login - Allowing users to connect to dApps using familiar, Web2 logins.

Fiat-to-Crypto onramp - Partnering with Coinbase, users can instantly buy over 100 crypto assets directly through Reown-powered apps.

Token swaps - In collaboration with 1Inch, Reown provides applications with in-app trades at the best available rates.

Web3 Messaging Notifications - Apps can now send onchain messages directly to user’s wallets.

Multi-Language support - Reown’s Solana Appkit supports developers building with React, Vue, JavaScript, and Next.js

Reown Attracts Key Launch Partners
Bringing the new Appkit to as many Solana developers, Reown has collaborated with some of the biggest names in the ecosystem. Integral DeFi apps like Jupiter, Solana’s leading aggregator, and Marinade Finance, one of Solana’s original staking providers, have lent their weight behind the launch, with additional support from Drift Protocol, a popular perpetual DEX, and Solayer, the network’s leading restaking protocol.

Drift Protocol co-founder Cindy Leow believes that Reown’s Solana Appkit will facilitate a smoother onboarding process for traders. Championing the toolkit accessibility, Leow expressed excitement at the prospect of a widening ecosystem.

“At Drift we’re continuously improving the experience for our users. As we expand, we want to see even more blockchain adoption. Integrating Reown’s Solana AppKit marks a milestone for accessibility and usability. We’re looking forward to seeing more apps in the Solana ecosystem leverage the Solana AppKit” - Cindy Leow, Drift Protocol co-founder.

Echoing Leow’s enthusiasm, Backpack CEO Armani Ferrante also demonstrated his support for the Reown Appkit.

“As the entry point for the Solana ecosystem, Backpack wallet team worked closely with the Reown team to integrate the Reown WalletKit on the mobile app end. We’re excited to partner with Reown and improve Solana users' experience. Now, users can easily access Backpack Wallet when they click the WalletConnect button on their favorite dApps.” - Armani Ferrante, Backpack CEO

Alongside Solana’s dramatic surge in user activity throughout 2024, the network has also enjoyed a significant increase in developer activity. According to the Solana 2023 Developer Report the network boasted over 2,500 monthly active developers.

The Reown Solana AppKit is expected to provide Solana’s expansive developer community with an expansive suite of tools, enabling them to create a diverse and access

Daily Memecoin Recap - September 24

Great volume today, $sol hits $154

Pup vs Pwup
$pwup -> hit $2 .37m, coin launched by artist
$pup -> hit $2 .24m, OG coin
- Same narrative as $frog -> $fwog
- Dev rugged, so the artist launched his own coin
- Apparently the website for $pwup was prepped hours in advance
- People are saying that $pwup was a planned/fake CTO and are now rotating back into $pup waiting for a real community to form

Malone Coin
$malone -> hit $1 .77m, Malone Lam
- 20 year old arrested for $230 ,000,000 crypto theft
- He was caught partly due to his lavish lifestyle, spending hundreds of thousands at nightclubs, and buying random girls birkin bags
- Read zachxbt's thread for more info

Woah Vicky Launches A Coin
$vicky -> hit $473k ,

Tiktok Viral
$pesto -> $1 .75m to $8m (4.57x), largest baby penguin in existence
$edwin -> hit $1 .13m

Moo Deng Wants $100m
#moodeng -> $38 .8m to $88m (2.27x), new ATH for the world's most viral baby hippo
$moowan -> hit $2m , Moo Deng's sister
$jona -> $13k to $230k (17.7x), Moo Deng's Mom

Popcat Breaks A Billy
$popcat - $285m to $1 .05b (3.7x from the low), new ATH
$popdog -> $5 .18m to $16 .28m (3.15x), dog beta to $popcat

Michi Gets Volume
$michi -> $52m to $126m (2.42x from the low)
- Very strong floor around 45-50m
- One of the strongest communities on CT

More Cooks
#maga2025 -> $335k to $2 .27m (6.77x), based on realDonaldTrump

$younes -> $1 .13m to $4m (3.54x), higher high, team is cooking
$msn -> $60k to $367k (6.11x), "Micro Sol Network"
$ptrump -> hit $731k , $pepe + Trump
$chat -> hit $371k , good meme, "chat, are we cooked?", refers to streamers
$core -> hit $215k , "core memory", cartoonnetwork
+ more

Things are starting to pick up, are you cooking? 👀

🥳 HMSTR - Day X.

Hamster finally gave out the drop that hundreds of thousands of players have been waiting for.

😬 No words, only emotions - that's how you can describe the HMSTR drop. The average per account came out to ~$15, which probably didn't meet the expectations of many.

As a reminder, the listing will take place on September 26 on all top exchanges.

What are the feelings about the drop? 🐹

🏆❌ The winner of the "Best Content Creator" award at Token2049 in Singapore has deleted his X account after being accused of using bots to manipulate his stats.

Professor Crypto was honored with the Key Opinion Leader (KOL) award last night at a side event at Token2049.
He then shared this success on X.

ZachXBT looked into the influencer's stats and according to investigator Onchain, he used thousands of bots.

“It might be a good idea to fire the thousands of bots you use on all social media platforms to fool people into thinking you have influence.”
says ZachXBT.

He then cited CFTC law that states that "no person shall sell or purchase false indicators of influence on social media, such as followers or views generated by a bot or hijacked account."

The effect is clear and sounds like a confession for Professor Crypto who deleted his X account shortly afterwards.

Meta Will Use Public Data From Adults In The Uk For Artificial Intelligence Training

Meta will start using publicly shared content from adult users in the UK on Facebook and Instagram to train its artificial intelligence models. The company will assess publicly available information, such as posts, comments, photos, and descriptions, from users on both platforms.

Meta emphasized that its AI is designed to reflect diverse global communities and plans to expand its AI initiatives to more countries and languages later this year. The company clarified that it does not use data from accounts of individuals under 18 in the UK.

In July, Meta halted AI assistant deployments in the EU following an order from the Irish Data Protection Commission (DPC) due to data privacy concerns. Meta claims it uses Facebook and Instagram user data with their consent and offers an option to opt out.

UK-based adults on Facebook and Instagram will receive in-app notifications detailing Meta's data usage practices and offering an option to object to the use of their data for AI training. Meta stated that it will accept all existing and new objection forms.

The DPC, responsible for enforcing the General Data Protection Regulation (GDPR), is intensifying its oversight. On September 12, it launched a cross-border investigation into Google Ireland Limited to determine if it complies with EU data protection laws in developing its AI models.

The investigation will focus on the use of EU citizens' personal data in training Google’s advanced language model, Pathways Language Model 2 (PaLM2), introduced on May 10, 2023.

The DPC also investigated the social media platform X and concluded the investigation after X agreed to meet the necessary compliance standards. On September 4, X agreed to stop using personal data of EU and European Economic Area (EEA) users to train its AI chatbot, Grok.

Sentiment is down, and critics have been quick to point out ETH's underperformance against SOL while largely attributing this to a perceived loss of mindshare and users to L2s.

This narrative has sparked a crucial debate: Are L2s Ethereum?

arjunnchand
brings the analysis...

========================================

🤔 Symbiotic or Separatist?
L2s have been a core component of Ethereum's rollup-centric roadmap from the very beginning. They were envisioned as extensions (technical and cultural) of Ethereum, designed to expand its capabilities and attract a broader user base.

At their core, L2s are deeply linked with Ethereum. They share its DNA — relying on ETH as the currency, benefitting from Ethereum's security blanket, and utilizing it for data storage and settlement. It's like a startup leveraging its parent company's infrastructure and brand recognition, a win-win for both.

The symbiotic relationship between L2s and Ethereum is undeniable. L2s thrive on Ethereum's infrastructure and security, while Ethereum benefits from the increased activity and increased demand for ETH, making it a better store of value.

By offering lower fees and faster transaction times, L2s have made it easier for developers to build different types of applications. Look at the explosion of memecoins on Base or the rise of SocialFi platforms like Farcaster creating new markets for users.

Beyond that, L2s are becoming major hubs for DeFi activity, and ETH, the asset, is at the heart of this ecosystem. Look at the numbers:
arbitrum
,
Optimism
,
@base
— these chains are dominated by ETH-related assets.

🧛‍♂️ Vampire attack?
However, one of the primary arguments against the rollup-centric approach to scaling Ethereum is the assumption that L2s may not continue to rely on Ethereum. Sure, L2s and Ethereum seem like a happy family now. But what if L2s build their own empires and ditch Ethereum altogether? No more relying on Ethereum for security, no more ETH as gas, not even needing Ethereum's block space.

This "L2s go rogue" fear is a legitimate concern. Technically, they could build independent ecosystems with their own validators as they would then be able to own the entire modular blockchain stack. So, is this the future – a messy breakup between L2s and Ethereum? Not necessarily.

We can all agree that there are perhaps a few too many L2s. Too many copycats. Too little differentiation. It's like a thousand startups chasing the same market, all promising the same thing. This isn't healthy.

What we need are L2s that matter. L2s that offer something unique, something that sets them apart. Security, app diversity, GTM strategy — these are the areas where we need to see real innovation.

But we must be wary of ‘echo chambers’. These zones of chains should not become isolated universes. A healthy L2 ecosystem is one where chains work together, not in isolation. We need bridges, not moats.

We need collaboration. We need communication. We need education. We need incentives. We need to build shared infrastructure and standards that foster seamless connectivity across L2s. Only then can we truly win together.

💭 Closing Thoughts
You can say that L2s aren’t Ethereum. You can argue L2s aren’t even extensions of Ethereum. But you cannot deny the fact that L2s enhance the utility of Ethereum and ETH.

The "L2s vs. Ethereum" debate is a false dichotomy. This isn't a zero-sum game. Ultimately, Ethereum and L2s are in this together. Let's build a future where Ethereum and L2s thrive as a symbiotic whole, and push the crypto ecosystem forward.

$POPDOG will be co-hosting MemeFestWTF 's (https://x.com/MemeFestWTF) space with MEMECON_ASIA (https://x.com/MEMECON_ASIA)! Thursday Sep 12 3:00 pm UTC

https://x.com/i/spaces/1Yq...

$NOOZ $ANDWU $UTOOB $UPDOG $USA $WORKIE
$POPDOG $BIRDFLU $DYOR

Marinade Finance, one of Solana’s original staking providers, has found itself in hot water with validator operators.

Validators argue that Marinade’s new Stake Auction Marketplace (SAM) harms the staking landscape, allowing malicious actors to thrive at the expense of honest validators.

Beyond losing stake in the network, chagrined validators suggest that, left unchecked, the SAM model is a threat to decentralization and Solana’s scalability moving forward.

Marinade has dismissed these accusations. Countering claims of apathetic negligence, Marinade argues those who criticize the new system do so out of spite.

Is this a case of willful blindness, or are validators looking for a scapegoat to blame for their own shortcomings?

WHY ARE VALIDATORS UPSET?
Once heralded as a powerful new model that would push staking APY to new heights, the SAM has drawn scorn and skepticism from certain validators. Marinade’s SAM enables validators to bid on network stake, with winners securing stake and passing on elevated rewards to delegators.

To win auctions, validators competitively bid on network stake. However, surging demand for stake has driven validators to bid at potentially unsustainable levels. In previous epochs, winning validators needed to yield over 10% APY to win auctions, a rate considered impossible to achieve through native staking alone.

This has led certain operators to speculate on how these validators can afford such high bids. Suggesting that such yield can only be achieved through malicious activities, like sandwich attacks, private mempools, and off-chain deals, some validators argue that Marinade is turning a blind eye to dishonest validators.

Distressed validators have created analytics dashboards to express their frustrations and support their claims. Hanabi’s ‘Marinade Stake Selling’ dashboard highlights that a number of validators flagged for malicious activity have won stake through the SAM.

Responding to accusations levied by third-party dashboard creators, Marinade CEO Michael Repetny argues “Hanabi lacks any methodology, they only copy labels from other Stakewiz dashboard to call it a day.”

Adding further context to the claims of disgruntled operators, Repetny affirms “Hanabi lost 1M SOL from Marinade so it’s understandable he fights the new system.”

Concerned validators have taken to Marinade’s Discord server to air their grievances. Operators have claimed that, through the SAM, over 2.7M SOL has been staked to questionable validators, including sybils and sandwiches. Disgruntled operators even suggested “Marinade wants you to have side deals, ethical or not.”

Additionally, validators have argued that if “most of the mSOL pool is delegated to unethical validators it’s a really bad look for the Solana ecosystem.”

In an exclusive statement with SolanaFloor, Max Kaplan, Head of Engineering at Edgevana, credits Marinade for trying something inventive that “had never been done before”.

However, Kaplan admits that Marinade “went full capitalist… basically, the highest bidder wins. Marinade doesn’t really care if a validator bids for stake and is just gonna lose money on that stake, that’s not their problem… They’re happy to take the money and give that to mSOL holders.”

Experts argue that in current conditions, staking yield over 10% simply isn’t sustainable. Kaplan contends “10% APY is higher than the native staking yield that is paid out on chain. The money has to come from somewhere.”

Without making any accusations, Kaplan theorizes that additional yield could potentially come from a validator’s own “marketing/growth budget” or other sources like “SWQoS / private mempool deals”.

Responding to any accusations, Repetny reinforces Marinade's stance that “SAM provides the best yield on the market for delegators. It is not an active policy maker or opinionated strategy to tweak the network.”

BTC, there were minimal trading volumes over the weekend and this weekend. Tomorrow is a whole day off in the USA and the volumes may not be large either. Bitcoin is still near the local support zone. Let me remind you that this zone is 57,600-55,900. Bitcoin continues to trade inside the medium-term pattern. And in this case, the key zone and level for reaching the upper limit of this pattern is the level of 60,000 and 64,000. After the breakdown of the pattern, a new round of growth of this cycle will begin.

withdrawal from exchanges exceeds input - 7%, 1,000 btc❗️

Altcoins, the accumulation continues. The market also gives many a chance to enter at an affordable price. But it is more likely that the next month will change the situation. The growth of altcoins in the near term will be significant.

https://www.tradingview.co.../

💬 Vitalik Buterin denies accusations of massive $ETH sales for profit since 2018.

“All sales went to support various projects that I believe are valuable, whether within the Ethereum ecosystem or broader charity (e.g. biomedical R&D).”

BIG SUPPLY, BIG PROBLEMS AS SOLANA’S NFT MARKET REJECTS LARGE COLLECTIONS

Fresh minting mechanics are bringing greater security to Solana NFTs, but new mints and large collections struggle to garner attention and are trading below mint price.

New NFT collections have learned a painful lesson this week. If it wasn’t obvious due to stagnant floor prices and diminishing trade volume, launching a fresh collection in these conditions is a difficult task.

Despite commentators claiming these hyped collections will usher in a “new era” and whitelist spots selling at over $50 apiece on open markets, launches from Pathfinders and Hermans have failed to meet expectations.

Will Solana’s NFT market ever witness another successful 10,000 NFT collection? Or are small supplies the only way of conserving value?

ONLY 21% OF PATHFINDER'S RISK-FREE NFTs MINTED

Despite proposing a new, risk-free method of launching Solana NFTs, the Pathfinders collection faces difficulty minting out. At press time, only 2,125/10,000 NFTs have been minted, falling well short of expectations.

Pathfinder’s novel LST-backed NFT collection launched with noble intentions. Providing an alternative mechanic that aims to protect minters, the collection has launched Solana’s first un-ruggable NFTs.

Unlike standard NFT mints, Pathfinders NFTs are minted using pathSOL, the project’s native liquid staking token. Holders reserve the right to redeem their NFT for the underlying pathSOL used to mint the asset, essentially securing the NFT’s value at a minimum of 2pathSOL.

Regardless, Solana’s NFT community has largely ignored the project’s novel approach to minting. Supporters of the new mechanic took to social media to express their disappointment with the NFT community’s apparent apathy. 

Commentators noted that network participants have collectively poured thousands of SOL into extractive and malicious actors, but are unwilling to support builders providing meaningful alternatives.

‘Hyped’ New Mint Immediately Under Floor - Are Presales to Blame?

Boasting a sold-out presale that constituted 55% of the total supply, the Hermans NFT collection suffered a similar fate. Priced at 1.5 SOL per NFT, Hermans struggled to attract interest during the public mint, forcing the team to take drastic action.

Hermans trading on secondary marketplaces like Tensor and Magic Eden was locked until the mint was complete, meaning holders were unable to list their assets. The team took it upon themselves to buy all unminted assets. The Hermans’ treasury now holds over 1,600 NFTs, roughly 33% of the supply.

Almost immediately, the collection began trading beneath mint price as presales and regretful minters clamored to liquidate their holdings for SOL. Hermans currently exchange hands at 0.84 SOL, down 44% from the original mint price.

While poor NFT market conditions are a significant contributor to the recent slew of disappointing NFT launches, social media commentators have argued that NFT presales are also to blame.

Low Supply NFT Collections Retain Value

In recent years, NFT markets have witnessed countless large supply collections suffer devastating downtrends. 

Top Solana collections like Mad Lads, Tensorians (pictured), and Claynosaurs have all endured significant drawdowns, while dozens of less-resilient projects have effectively plummeted to zero.

Comparatively, low supply and 1/1 NFT collections have retained their value remarkably well. Limited supply art collections like Boogles, Dead King Society, and The SixNine are typically only available through OTC deals and have maintained comparatively stable floors, regardless of SOL price fluctuations.

Arguably, this suggests that the most valuable utility NFTs offer is access to exclusive communities. Alternatively, it could also indicate that low-supply collections with low market liquidity create an elite sense of perceived value, which has supported the valuations of these co

platform for all types of betting, read the integration and usage guide for your project token, even if it is a new project released on Sol. Integrate tokens, create immediate use value, UPDOG was dead, but they were revived by integrating gambling technology, so they increased in price

📊 Weekly Outlook Charts Aug 19-23:

#DXY still grinding lower. Nothing much has changed since last week. Global PMI data and subsequent labor market data in UK, France, Germany, USA will have an impact on fed cut expectations and by proxy risk assets including the dollar.

The Annual Jackson Hole meeting is this week as well. Surely there will be some volatility. My best guess is Powell restating the fact that the fight against inflation is almost over and focus on labor market data will be prioritized going forward to initiate the 'soft landing'

https://www.tradingview.co.../

Within 2 weeks since the yen unwinding, we are just a couple percentage points off the highs. The vast volatility has me a bit suspicious. Since we are back above the cloud, confirms bullish continuation, however I suspect this week we might range around 5600 on #SPY due to heavy news flow this week.

https://www.tradingview.co.../

Seems like USOIL is closely following DXY most likely due to concerns of global economic growth.

https://www.tradingview.co.../

#btc still lagging risk assets in tradfi markets. Not bullish again until daily closes above the cloud. Still ranging. Not particularly interested here

https://www.tradingview.co.../

#eth is still struggling to pass resistance. Must be patient

https://www.tradingview.co.../

After weeks of eager anticipation, Lavarage has finally launched its generous rewards program. Offering DeFi traders a more efficient way of navigating onchain markets, Lavarage adds a new dimension to permissionless margin trading by leveraging spot assets, rather than the synthetic perpetual assets used across the Solana ecosystem.

With the launch of Tephra, the protocol’s dynamic points program, Lavarage brings renewed enthusiasm to Solana’s margin markets and re-stokes the flames ahead of a future airdrop.

THE TEPHRA POINTS SYSTEM - MISSION 1 NOW LIVE
Rewarding dedicated traders and community members alike, the Tephra points system aims to provide fair opportunities for all ‘Lavanauts’. By using the Lavarage trading platform and engaging in community-building activities, Lavanauts earn Tephras, which will be directly correlated to an eventual airdrop.

Users earn Tephras every time they execute an action in the Lavarage platform. Whether you’re opening positions, paying interest on borrowed assets, or staking SOL for lstSOL (Lavarage’s native liquidi staking token), users are actively earning Tephras. The team has also hinted that users can boost Tephra generation by holding Lava Rock Alpha NFTs.

Profitable traders stand to generate even more rewards. Encouraging skilled traders to use the platform, points are also being distributed based on the profitability of individual trades. Making point generation accessible to those with smaller wallets, Tephras can also be earned through community-building activities.

Adding an additional layer of intrigue to the Tephra program, Lavarage proposes diversified missions. With each mission lasting two weeks, the Lavarage team will adapt rewards based on the protocol’s strategic goals. While this keeps the rewards program dynamic, it also works as a countermeasure against bots and airdrop farmers seeking to game the system.

Mission 1 is currently live. Lavarage users can easily track their Tephra points tally through the app. Lavarage’s earliest users and supporters can now verify rewards accumulated during the ‘OG Mission’.

WHAT IS LAVARAGE?
Designed to improve capital efficiency in DeFi trading and boasting a streamlined user experience, Lavarage offers a creative approach to margin trading on Solana. Unlike the network’s vast range of perpetual DEXes, Lavarage contracts use spot assets.

This means that the platform offers more accurate pricing and liquidity than perpetual markets and allows traders to buy and sell the underlying assets.

Lavarage usage has erupted in recent weeks. Since the end of June, the platform has facilitated over 5,000 spot-margin positions at an average leverage of 3x. Boasting over 500 assets, Lavarage has attracted over 1,000 unique users with a retention rate of over 60%.

Beyond trading, Lavarage also manages to provide generous yield to its liquidity providers. According to the platform, SOL stakers have earned over 40% APY through Lavarage since the protocol’s inception.

WHAT'S NEXT?
With the Tephra points program officially underway, the Lavarage team has hinted that the upcoming TGE “might not be too far off”.

Regardless, Tephra is expected to boost the platform’s growing user base and volume, helping Lavarage grow towards becoming a key player in Solana’s flourishing DeFi Landscape.

Holding an open discussion on 𝕏, BitGo’s Mike Belshe joined Justin Sun and original WBTC contributor Meow to address concerns about WBTC custody changes.

Earlier this week, BitGo announced changes to WBTC’s existing custody model that included distributing influence across several parties and geographic jurisdictions.

The move drew a wrath of criticism from the cryptocurrency community, notably due to the involvement of Tron founder Justin Sun.

Seeking to clear the air, Jupiter co-founder and original WBTC contributor Meow welcomed BitGO CEO Mike Belshe, Justin Sun, and BitGlobal representatives to a public forum to shed some light on the situation.

MIKE BELSHE PUTS BTC USAGE CONCERNS TO REST
One of the key concerns outlined by the crypto community following BitGo’s original announcement was what the Bitcoin used to back WBTC would be used for. Acting as a voice for the crypto community at large, Meow posed the question of BTC utilization to BitGo CEO Mike Belshe.

Assuring over 5,000 captivated listeners, Belshe put their nervous minds to rest, highlighting that “when you put [Bitcoin] inside of a trust company you’ve got it wrapped in a mechanism which has got a fiduciary responsibility in a very legal way.”

Reinforcing his statement with additional context, Belshe acknowledged that people’s “number one question” was that “the bitcoin behind [WBTC] is not gonna get hypothecated, rehypothecated, lent out, used, taken, put somewhere else.”

Highlighting the legal constraints of BitGo’s position, Belshe assured listeners “The regulatory construct that we have makes it so that it’s actually illegal to do that.”

A TRANSFER OF TRUST?
Part of the BitGo X GitGlobal collaboration means that multi-signature keys with access to custodied assets will be distributed across several companies. While on paper this aids in decentralization and security, Meow and the community raised concerns regarding the involvement of BitGlobal, a relatively new and unknown entity in the space.

By transfering ownership of keys, Meow theorized that the “transfer of trust will take a long time” arguing it could be “quite a hard pill for the community to swallow”.

Responding to Meow’s claims, Belshe asserted “BitGo is not asking you to take the same trust that you had in BitGo and just give it to somebody else.”

Hammering his point home, Belshe contended that decentralization remains one of the strongest security measures available. Posing the rhetoric, Belshe asked “Is it more secure to have the two parties, or is it more secure to have BitGo hold two keys?”

THE JUSTIN SUN FACTOR
The announcement of Justin Sun’s involvement in the arrangement has been one of the collaboration’s biggest items of contention. Some long-standing crypto protocols like MakerDAO have argued that Justin Sun’s involvement adds an “unacceptable level of risk” to WBTC, proposing to reduce their WBTC exposure to 0.

Justin Sun’s commentary during the forum was admittedly brief. Downplaying his role and involvement, the controversial figure noted “the protocol, how to mint, how to burn and also the transparency and all the procedures remain the same.”

Adding further clarity, Sun contended “other than some of the keys being moved out of the U.S., I don’t really think there is much difference.”

Beyond assuring listeners that nothing had changed, Sun revealed his vision for the future of WBTC. Positing that “not everything we do is purely to make money” Sun believes the team should focus on expanding WBTC market cap, TVL, and helping the asset establish a presence of more blockchains.

Published in 1968 - In thirty years, he reflected, perhaps sooner, there would be one vast undifferentiated culture, one complex of super-highways, hot-dog stands and neon, interrupted only by the Atlantic, stretching from Los Angeles to Jerusalem; possibly, by then, as far as Calcutta, three-quarters of the way round the world. Where there had been Americans and British and French and Italians and Greeks and the rest, there would be only citizens of the West, uniformly affluent, uniformly ridden by guilt and neurosis, uniformly alcoholic and suicidal, uniformly everything.

- Extract from “Colonel Sun”

Dialect reports that 285 Solana Blinks have been added to the public registry since launch.

The registry provides an extra layer of security for evaluating Blink usability on X.

⚖️ A company specializing in the recovery of funds following scams #crypto , scams its customers.

On August 5, the Department of Homeland Security reported that an investigation by its New York task force had resulted in charges against Michael Lauchlan, who ran Coin Dispute Network (CDN), a fraudulent crypto asset recovery business.

Lauchlan allegedly kept the fees and, in some cases, extracted additional ETH from nearly 175 customers, using false promises and fake blockchain tracing reports.

This is the first time a cryptocurrency recovery site has been shut down by the Manhattan District Attorney's office.

"Michael Lauchlan allegedly exploited his clients' lack of experience in the cryptocurrency industry and in return defrauded them of thousands of dollars in fraudulent services and stolen assets," the investigator said

https://cointelegraph.com/...

BTC, rebound from the drop from yesterday. It's happening right now. Bitcoin has already recovered 6,500 thousand from the bottom of the correction. Overall, it looks pretty confident, but it's still a rebound. The medium-term uptrend was lost yesterday on the squiz. There are only 2 long-term trends right now. see the graph. Their re-test is a medium-term support area. Now the situation with the restoration of the level of 60,000 will not change much, even if it reaches 65,000. If in the near future, no more than a week, and a maximum of 2, we do not break through the zone of the key resistance zone, then the continuation of the flat with corrections will continue. Now the task of the market maker and the whales is to break through this zone as quickly as possible and gain a foothold above. Why is this so, because those who were eliminated, those who managed to get out of positions, logically should not have time to enter again at the same prices, but go much more expensive.

the input to the exchanges exceeds the output -
8%, 2400 btc

Altcoins, yesterday on squiz reached the top level on the capitalization of Altcoins, the level of panic sales. Who remembers from the video, this was noted. There are still levels slightly lower from below, but in fact they will not change the situation much, especially for a long-term portfolio! The ascending lines on Total 2 and Total 3 were also achieved and tested on the squiz, a re-test took place precisely along the Fibonacci lines and not a physical re-test. It also says that we are very very close to the bottom or already at the bottom. Since even the fibonacci line of 0.618 is already suitable for re-testing and determining the day. But still, the bottom is the zone between 0.618 and 0.786 fibonacci lines.

https://www.tradingview.co.../

The summary of the news #crypto and markets

1) Powell (FED) leaves rates unchanged, no pivot decided, possible in September but reserves the possibility of acting until early 2025 if necessary

2) Senator Cynthia Lummis submitted her bill to make #Bitcoin a store of value alongside gold

3) Gold hits a new ATH close to $2 ,500 per ounce

4) According to several technical analysts $BTC is still in downtrend (lower high point and lower low point) which could lead it to a new low point in August around $48 -50k if the current supports do not hold

5) The results of META and Schneider Electric are good

6) MtGox BTC continues to be distributed while whales accumulate 600,000 BTC changed hands between $66k and $67k

7) GrayScale continue to sell their ETHE at a very sustained pace

8) Yesterday the inflows-outflows were just in balance for BTC and net negative again for ETH

9) The Hashrate of #Bitcoin at 2% of its ATH has recovered almost the entire period of capitulation of miners

10) Tether published their results, they generated 5.2 billion profits in the last quarter

11) Nancy Pelosi bought thousands more Nvidia shares

12) General activity (on and off chain metrics) around DeFi has increased sharply in recent weeks

13) UAE residents now have the ability to trade crypto directly from their bank account

14) Inflation rose by 0.1% in the Euro zone from 2.5 to 2.6%

Solana’s favorite no-code token deployer has proven itself the biggest application of the cycle, consistently generating millions in revenue.

Pump.fun, a popular Solana-based token deployment application, is showing no sign of stopping. After celebrating the launch of one million tokens on the platform on June 14, 2024, pump.fun notched 1.5M launches a mere 42 days later on July 25th.

PUMP.FUN GENERATES $85M REVENUE SINCE JANUARY LAUNCH
Consistently generating over $1M in daily revenue, pump.fun has established itself as one of the most valuable crypto apps in terms of revenue generation. In just under seven months since its January 14 launch, pump.fun has generated 520,412 SOL in revenue, currently valued at over $85M

The platform’s viral growth has set an astonishing pace. After a comparatively slow start, pump.fun usage exploded in March and never looked back. On average, 12,679 tokens were launched daily on the platform in July, based on Dune Analytics data.

Off the back of its massive popularity, pump.fun recently crossed the 1.5M token deployment threshold. The no-code token creator is accelerating towards the next significant milestone at 2M launches and is expected to achieve this feat in just under 32 days, if it continues the pace set in July.

In a recent interview with threadguy, a popular crypto influencer, pump.fun co-founder alon credits the platform’s success to its accessibility. Alon argues that pump.fun is the ideal intersection between finance and social media, contending that “pump.fun is SocialFi in the most crypto-native way”.

PUMP.FUN RESPONSIBLE FOR 40.97% OF SOLANA DEX TRANSACTIONS
One doesn’t need to look far to see that pump.fun has evolved into one of the most critical applications in Solana’s DeFi ecosystem.

According to Dune Analytics data collected over the past seven days, pump.fun transactions make up approximately 40.97% of all Solana DEX transactions.

However, given that tokens launched on the platform are migrated to Raydium upon reaching a market capitalization of $69 ,000, volumes on the app remain relatively low compared to other decentralized exchanges.

Despite attracting the bulk of Solana DEX transactions, pump.fun’s DEX volume market share continues to hover around 4%, with Raydium being a significant benefactor of pump.fun’s success.

“THE WORST THING THAT EVER HAPPENED TO CRYPTO ” - Alon Responds to Criticism
For many blockchain advocates, pump.fun represents all the worst parts of the industry. Arguing that the proliferation of meme coins on Solana is drawing attention away from serious projects, and delegitimizing the industry.

In response to criticism, alon concedes that “pump.fun is the worst thing to happen for crypto for a lot of people”. However, the co-founder argues that the platform has simply “uncovered the veil” and exposed “crypto for what it really is”.

Looking ahead, alon posits that the key to continuing pump.fun’s meteoric growth is to “leaning into what we’ve already done”.

While not giving away any hints regarding upcoming features on the platform, alon indicated that the pump.fun team was committed to “improving the experience while maintaining the culture that makes it so exciting in the first place.”

⚡️Trump promises SPACE growth for crypto! The ex-president is rocking out at the Bitcoin 2024 conference - “bitcoin will overtake gold in capitalization,” and the United States will become the crypto capital of the world.

Trump’s first decision will be to fire the chairman of the SEC (Securities and Exchange Commission) - it is this organization that is stopping the development of crypto business in the world.

Secondly, the government will stop selling confiscated bitcoins and create a powerful strategic reserve of cryptocurrencies. This will lead to insane growth!

The USA, as usual, is doing everything right, while many other countries are “chewing snot”. After all, that’s why they are capitalists 👍💪🏻

Crypto investors, waiting for takeoff #crypto #Bitcoin #trump #tokens #info

BTC will cost $350 thousand.

CEO VanEck says Bitcoin is half of gold's total market capitalization at $350 ,000.

Do we believe?😀

✈️ Alexander Vinnik, the Russian crypto crook, released following a large-scale prisoner exchange between Russia, the USA, Germany and Belarus?

This is the crazy rumor spreading on X, after the An-148 plane with flight number RA-61727, which had landed in Kaliningrad, Russia, returned to Moscow.

This plane had already been used for prisoner exchanges between Russia and other countries.

The RIA news agency reported that this large-scale prisoner exchange was taking place between Russia, the USA, Germany and Belarus

Among them, the Russian Alexander Vinnik, who must serve a sentence in the United States for money laundering of nearly 9 billion dollars via the cryptocurrency exchange BTC-e, and whose name mysteriously disappeared from a database of prisoner data.

https://www.reuters.com/wo.../

Aped. Good entry and future for project. Let’s earn money

EQCOe7CdgxUsaWBta4AgRxWtd6D7rzSvI8mwgQPh0VIcLlsn

July 19th’s devastating IT outage left hundreds of businesses across the world scrambling to provide basic services. A software bug that was prematurely pushed to production wrought havoc across the globe, temporarily shutting down banks, airlines, and essential services.

Cryptocurrency may not have been a solution to this particular problem, but the event still exposed the vulnerabilities and flaws of our reliance on centralized infrastructure.

What makes DePINs more resilient than centralized alternatives and why is Solana so well-equipped to support decentralized infrastructure?

SECURITY THROUGH DECENTRALIZATION
One of the fundamental staples of the cryptocurrency industry, decentralization is key to avoiding singular points of failure. Drawing resources and infrastructure from distributed sources makes any entity vastly more robust.

Despite detractors arguing that the network is dangerously centralized, Solana has proven its critics wrong, establishing itself as one of the industry’s most decentralized blockchains. A common and admittedly simplified measure of network decentralization, Solana boasts a Nakamoto Coefficient that surpasses the bulk of its rivals.

However, where Solana gains its edge is through the development of alternative validator clients. Barring Ethereum, most Layer One blockchains rely on one sole validator client. Ironically, if a software bug was pushed to production, as was the case with the CrowdStrike outage, these blockchains could also fall victim to a complete network outage.

On the other hand, Solana is on track to eliminate this vulnerability. The network currently hosts two independent validator clients. Solana’s network resilience will go to new heights with the deployment of Jump Crypto’s Firedancer client, which completely rewrites the network into a different programming language from scratch, eliminating the risk of one bug affecting various clients.

Not only is Solana becoming more decentralized by the day, but the network’s thriving DePIN sector is witnessing unrivaled adoption.

SOLANA LEADS REAL WORLD DePIN ADOPTION
Crypto’s DePIN sector is vague. Despite deploying zero infrastructure and offering no proof-of-concept, hundreds of different projects are categorized as DePIN protocols by various blockchain data sites.

For example, CoinMarketCap’s DePIN category features over 140 different DePIN projects but includes Layer 1 blockchains like Internet Computer (ICP). DePinScan, a research tool operated by IoTeX, lists 262 DePin cryptocurrency projects. Other resources, like EV3’s depin.ninja platform, suggests over 300 DePIN protocols are being built on Ethereum alone.

With such ambiguity surrounding what defines a DePIN network, how can we track the manner in which DePINs are actually being deployed and used?

Physical Infrastructure. Among hundreds of supposed DePIN projects, which protocols can individuals see first-hand through real-world devices or Proof-of-Concept?

According to EV3, Solana-based projects dominate their competitors in terms of active node deployments, with projects like Helium, Hivemapper, and Natix each operating hundreds of thousands of devices.

Courtesy of its unmatched scalability and performance, the Solana network is a natural choice for businesses looking to deploy DePINs. In the current blockchain landscape, no other blockchain is adequately equipped to support the data transmission of hundreds of thousands of devices without suffering debilitating latency issues and gas spikes.

Additionally, Solana benefits from the widespread use of mobile devices. Solana Saga, the network’s Web 3 phone, sold out following a collaboration with BONK and the second iteration has been preordered over 140,000 times.

With the future of the internet expected to be driven by mobile-first usage, the Solana network is ideally placed to establish itself as the leading chain for DePIN protocols.

Daily index

“A thousand victories over a thousand enemies are not worth a single victory over yourself.”
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$BTC : $67 ,102
$ETH : $3 ,203
#btc Fear and greed index: 71
#Bitcoin Dominance: 56%