ToE's Weekly Highlights #75

AI coins made a comeback

Tron eco and Tron memecoins seeing a surge especially $SUNDOG

$AVAX trust announced by Grayscale

All the narratives you need to know for the week 👇🧵

Weekly Updates

DeFi is my favorite crypto sector, despite its challenges. While many dApps fail after token incentives run out, projects like Uniswap, AAVE, and Polymarket continue to thrive. The future of DeFi is promising, with tokenization unlocking new financial use cases, protection against centralized authorities, and the ability to cut out the middleman. DeFi also ensures equal treatment for all users, with full transparency on-chain. Despite early hurdles, I believe DeFi is poised for exponential growth.

Tabi is a modular blockchain designed for gaming, offering service-centric design, modular security, and omni compatibility. Backed by Animoca Brands and Binance Labs, Tabi aims to deliver a seamless Web3 gaming experience, bridging the gap between Cosmos and Ethereum ecosystems.

BTC’s current performance aligns with previous cycles, adding to my bullish outlook on crypto. Post-Halving trends suggest we could see a strong uptrend soon.

Weekly Alpha by @TheDeFinvestor

Narrative Overview

Tron Season

One of the hottest narratives recently has been the “Tron season.” Led by $SUNDOG, which surged from $60M to $300M market cap, this trend also pushed $TRX up by 25% in a week. Other Tron memecoins like $SUNWUKONG, $FOFAR, and $SUNCAT saw significant gains as well. While these coins have shown strong short-term performance, caution is advised as valuations may be volatile.

AI and Altcoins

AI-related coins have made a comeback, with $RENDER, $FET, $IO, and $TAO all seeing strong gains. Nvidia’s earnings report likely contributed to this renewed interest. Meanwhile, older alt L1s like $FTM, $MATIC, and $AVAX have also performed well, driven by upcoming rebranding and the ripple effect from the $TRX pump. Newer L1s such as $SUI, $SEI, and $APT also gained momentum.

Memecoins and NFTs

The memecoin market has been active, with $CAT, $POPCAT, and $FWOG all showing impressive gains. Additionally, the NFT market is showing signs of life, with CryptoPunks, BAYC, and Azuki floor prices rebounding after months of decline.

Market Update: $BTC and Beyond

The price of $BTC has hovered around $60K for the third consecutive time since our last newsletter. After reaching $65K on August 23, fueled by Jerome Powell’s Jackson Hole speech hinting at rate cuts, the market sentiment turned bullish. However, a swift correction followed, with $BTC dropping 6% to $58K in just two hours due to heavy selling pressure. $ETH experienced an even steeper decline, falling from $2700 to $2400 before slightly rebounding.

Other updates

MAJOR HEADLINES

• Grayscale announces the launch of an Avalanche Trust.

• Justin Sun withdraws 12k BTC without DAO approval on USDD collateral.

• Telegram founder Pavel was arrested in France and later released on bail.

PROJECT UPDATES

• Tether to launch a new stablecoin pegged to the UAE Dirham.

• Clearpool unveils Ozean L2.

• Magic Eden announces the ME Foundation & $ME token.

• Puffer Finance releases its roadmap, with TGE planned for Q4.

• Traderjoe teases future product releases.

• Sony launches Soneium L2, with Astar zkEVM transitioning to it.

• Tensorplex Labs introduces the Intelligence Chips program.

• Morpho Labs starts discussions about token transferability.

• Maple Finance announces Q4 MPL>SYRUP conversion.

• MakerDAO rebrands to SkyEcosystem, introducing USDS & SKY.

• Maple Story Universe reveals NXPC tokenomics.

INTERESTING PROJECTS

• Bolt Protocol: Enabling preconfirmations on Ethereum with proposer commitments.

• Soneium: Sony’s new L2.

• Chainbound: A research & development organization.

• World Liberty Fi: Trump’s new project.

Market Overview

• No significant price changes; market is consolidating.

• The overall market structure remains bullish.

• Expectation: A potential re-accumulation phase before new ATHs.