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Another day, another coin managed to flip Solana. Today, our beloved asset was stabbed on the back by Binance’s BNB, which in turn, ended up scripting a new ATH on the price front. 

After rallying by more than 21% in a single day, the asset’s market cap breached the $112 billion mark. Other dino coins like TRX, APE, and SAND also pulled off double-digit rallies in the 20-60% bracket. 

The good news? Altcoin season is back! 

Conventionally, if 75% of the top 50 coins performed better than Bitcoin over the past quarter, it is said to be altcoin season.

Contrarily, Bitcoin’s dominance has been withering. Even though it continues to hover above 54%, altcoins are now clearly calling the shots. 

The alt-season's reading has registered a huge spike on its chart. It’s oscillating around 90 at the moment — a level last seen more than two years back. The games have officially begun! 

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Eigen/USDT Binance 1D

Eigen dips have been gobbled on the 1D chart over the past two days. The price looks ready to break above the range. The best part? Airdrop jeeting seems to be all done and dusted at this stage. 

If we get a dump down to the midrange and VaH of the yearly VWAP (see purple box), chances are it will be one to buy. The ongoing resilience of within the ETH ecosystem indicates that it could be time for technological improvements here. 

Just keep an eye on Bitcoin though. If the daily closes below $95k, we could be in for some short-term pain.

Come by the Lucky Luke Discord channel for comments, to roast my picks or to pump your own bags. All banter is welcome any time!

BNB’s 2023 sentiment was totally red. Fast forward to this year, it has been totally green (barring just one instance). The latest pump, couple with the SOL flip, has only refined the sentiment further.

Despite slipping down by a rank on the market share front, SOL continues to command almost 7% of the mindshare — the highest when compared to almost all of its peers. Tron is also part of the top-3 because of the obvious 60%+ rally. Meanwhile, MOG and HYPE continue to be the evergreen alt darlings loved by all. 

After all the Pump.fun drama, if you’re looking for a new memecoin launcher, then GraFun could be your next go-to spot. 

The memecoin issuance platform integrated with the TON blockchain earlier today. Letting the cat out of the bag, devs have said that creating and trading memecoins directly inside Telegram “is almost here.”

Via the platform, over 14k memecoins have been launched and ~$450 million in trading volume has been generated on the BNB Chain. Now, with memecoin creation enabled right on Telegram, the numbers can be expected to shoot up. Plus, the whole process is gonna be effortless. 

Even though the core team hasn’t shared updates about a potential token that could go live, there is chatter on the streets that GraFun is looking to launch a native asset going forward based on user activity.

What’s even more interesting to note is that Floki owns about two-fifths of the platform, while other stalwart funders like DWF Labs back GraFun.

The important bits.

• The COOK thesis

• Superseed Supersale to open on December 9 

• Safe rolls out 'Safenet' to unify liquidity

• Namada, a privacy-focused L1 blockchain, launches its mainnet

• XRP Ledger reduces its reserve requirement from 10 XRP to 1 XRP

• Botanix Labs to launch a new testnet for its ‘Spiderchain’ Bitcoin L2

Even more important bits.

• Genesis achieved! Sonic Labs prepares to take on Solana and Base with lightning-fast blockchain

• Celsius founder Mashinsky pleads guilty, could face upto 30 years in prison

• Former SEC commissioner Atkins emerges as top contender to replace Gensler

• Roger Ver, aka Bitcoin Jesus, urges court to dismiss US tax evasion charges

• Australia's ASIC is seeking feedback on proposed crypto rules

Charts and stats of the day.

• Monthly USDC senders on Base are up from 140k in Jan '24 to 630k today

• Tron’s growth seems to be legit

Life gets busy so here’s what you’ve missed.

How Demex is Blending Memecoins With Perpetual Contracts

Podcast

Jedi chats with FishMarketAcad about how the Demex team is approaching innovation in on-chain perps markets for memecoins.

Tune in on Spotify | YouTube 

• Yuma (decentralized AI company)

• Quasar Markets (AI Research Platform)

• Mode (L2 scaling network)

To save you doom scrolling.

Don’t be like Griffin. Buy while you still have time.

Despite the cribbing and yapping, we’ve had nine positive months out of eleven so far this year. Per past precedents, strong years tend to finish on a strong note. Don’t get shaken by the hiccups. Be grateful and keep your eyes on the bigger picture. Don’t forget, momentum often rewards patience!

stay safe homies,

Lavina 🫡