Chaindege Satoshi Money Weekly: Trading volume and liquidity shift from Ethereum to Meme on Solana

2023-12-28 10:02:59

BY ONCHAIN WIZARD

Compilation: Deep Tide TechFlow

Chaindege released this week’s Satoshi Money Weekly Report, which delves into the latest trends in the Crypto Assets market, specifically the significant change in trading volume and liquidity from Ethereum to Solana’s meme.

Before we start this article, it is very important to note that the market for trading any Token on ETH/ARB/AVAX has been very weak for the past two weeks or so. All trading volume, users, and liquidity were transferred to speculating Meme coins on SOL. The best way to visualize this shift is to look at the user/volume changes in the TG trading instrument.

Bonkbot (sol’s main TG robot) had fewer daily users than Maestro on December 13, and since then, the number of users has increased by a factor of 6, reaching 36,000 yesterday. As of yesterday, Bonnk’s share of TG bot users increased from 34% to 91%. This is a significant shift in terms of attention/liquidity/trading volume and has led to weak or even falling price movements of ERC20 Tokens.

Chaindege聪明钱周报：交易量和流动性从以太坊转向Solana上的Meme

From a volume perspective, this shift is even more pronounced. On December 13, Bonk had a trading volume of $3 million, while Maestro and Banana combined were $27 million. Yesterday Bonk traded $67 million, while Maestro+Banana combined was $5.6 million. In other words, the trading volume of Bonk increased by 20 times, while the trading volume of the ETH instrument decreased by about 80%.

Chaindege聪明钱周报：交易量和流动性从以太坊转向Solana上的Meme

As you might expect, most of the popular ETH DEX Token prices peaked around the 13th and showed a downward trend. So, if you’re looking for an ETH recovery/ERC20 Token reversal, it’s a good idea to observe the DEX trading bot dashboard and see where Degen is going.

Chaindege聪明钱周报：交易量和流动性从以太坊转向Solana上的Meme

chainEDGE Weekly Report: December 27, 2023

Based on the number of holders above $10,000, Satoshi Mingqian’s favorites right now are OLAS, AGRS, MUBI, BANANA, $VAULT, MXH, and HYPR. Overall, Satoshi Token holdings have been on a downward trend across the board as attention/volume/liquidity has shifted away from ERC20 Tokens.

Chaindege聪明钱周报：交易量和流动性从以太坊转向Solana上的Meme

Among these Tokens, several Tokens that have seen accumulation (or at least flat) since December 13 include:

OLAS (rise 2%)
MXH (Newer Token)
HYPR (Flat)

In the case of Satoshi Money owning $20,000 in newer tokens:

KOI $103,000 / 5 Wallets (i.e. 5 Satoshi Wallets hold $103,000 KOI)
MXH $298,000 / 27 Wallets
MARK $181,000 / 5 Wallets
FI $167,000 / 5 Wallets
OMNI $159,000 / 8 Wallets
RSTK $102,000 / 7 Wallets
MZERO $64,000 / 6 Wallets
vMINT $47,000 / 4 Wallets
TUX (operation) $26,000 / 2 Wallets
UEFN $20,000 / 12 Wallets

Overall, we’ve seen the entire market (and Satoshi money) shift to memes on sol, as well as more basic projects on ETH. THEN DIGGING DEEPER, THE TRACK WHERE THE MONEY FLOWS IS AI , BRC20, AND THEN MORE SPECIFIC PROJECTS LIKE HYPR, BANANA, MXH.

Looking at swap traffic over the past week, EVM’s focus on coins on AVAX and ARB has cooled, mostly back on ETH, notably BDID, OMNI, TURT, MUBI, MXH, LBR, 1CAT, and ENQAI, each with more than $50,000 in net buying.

Chaindege聪明钱周报：交易量和流动性从以太坊转向Solana上的Meme

Looking at non-ETH traffic, we see OWL, HMX, NOLA, and SMOL as leaders on ARB, while traffic on other major EVM chains is quite weak.

Chaindege聪明钱周报：交易量和流动性从以太坊转向Solana上的Meme

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.