🔴 Deeper Pullback or Just Another V-Reversal? Let's see:

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GM, is it finally time to take a breather?

Or is this yet another of the endless cases where the market scares everyone shittles with a quick dip, only to V-reverse a few days later?

The warning signs were louder this time with SOL and SOL/ETH bouncing, which, at this part of the cycle, seems similar to how ETH pumps previously meant it’s time for a bit of risk off. On top of that, we’ve received a really hot PPI data in the US, coming at 3.3%, higher than expectations.

For the record, $460M in positions were liquidated in roughly an hour around the PPI release. Seeing these types of leverage washouts brings back 2021 flashbacks. This also means we’re deep in the bull market.

Pullbacks in a bull market are usually nasty but short. And with Google Trends showing peak searches for “altcoins,” it makes sense that a bit of punishment gets handed out here.

Macro-wise, not much has shifted despite the spicy PPI. Odds of September rate cuts stayed the same, and global liquidity is still on track to rise, primarily due to positive factors coming out of China.

Hard to say if this one results in a larger consolidation into September, or gets resolved in a few days as usual. Nevertheless, the result is the same; you catch my drift. Let’s see, good luck.

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The important bits.

• Almanak launched Season Point 1, stage 2, get rewarded here

• Giza got retweeted by the official Ethereum account, see here

• Ethena covered in a new blocmates research article, read here

• edgeX just crossed $2B in 24h volume, trade and stack points here

• Rysk Finance is now the fastest-growing HyperEVM protocol, see here

• HyperUnit’s potential valuation broke down in a new article, read here

• Chainlink Reserve activity is picking up, chart here

Even more important bits.

• International tokenized CMB’s HK–Singapore Mutual Recognition Fund on Solana, read here

• Google banned all crypto wallets on Google Store, then backtracked, read here

• Bessent says the US will not be buying crypto for the reserve bust use confiscated funds, listen here

Charts and stats of the day.

• PumpFun is still dominating the launchpad wars, charts here

• Ethereum ETFs hit $729.1M in net inflows in a day, chart here

• Hyperliquid and Ethereum are dominating the mindshare, full stats here

• Satoshi is now richer than Bill Gates, comparison here

• The largest deposit on Hyperliquid has just been made, $100 million, read here

Telemetry data of the day.

It’s time to check back on Bonk, so let’s combine both Pump and Bonk stats today.

• Trending PumpFun & Bonk, last 24H:

If you want to access more of this type of data and trade freshly graduated tokens on PumpFun of Bonk, visit Telemetry here (it`s free).

Memecoin’s Supercycle secret bet: NFD.

Feisty Doge NFT is a pretty OG project at this point. If we’re truly heading into a market blow-off top phase accompanied by “Mememcoin Supercycle” style vibes, then this one should be on our radar, especially at a mere $12M market cap.

NFD is building a living archive of culturally significant memes, a decentralized index of meme provenance. It can be thought of as a decentralized memecoin museum, with NFD as the governance token.

Path and Cobie are some of the most important governance figures in this project,

That alone speaks volumes.

If this sounds interesting to you, here’s a great thesis and Feisty Doge breakdown as a recommended read.

• Sekai (AI)

• Liquid Terminal (Hyperliquid terminal)

• Inflectiv (AI infrastructure)

• Pyramid (DeFi, 3,3)

• Bitcredit Protocol (Bitcoin, DeFi)

• Solstice (Solana DeFi)

• Overdraft (Fiat DEX on Hyperliquid)

To save you doom scrolling.

Andrew Tate is shorting the PPI dip. Take from that what you will.

Goddamn, how did we miss this? Important fundamental indicators such as these must be tracked. Lord be with us.

stay safe homies,

Hix0n 🫡