Top News

1. Abstract Chain to Conduct TGE Before Year-End

2. Virtuals Protocol Launches VIRTUAL Staking Feature

3. Believe Ecosystem Token Surpasses $260 Million Total Value, with Over 3200 Tokens Created on the Platform

4. SEC Seeks Comments on Physical Redemption for BlackRock Bitcoin ETF, Delays Grayscale SOL and Litecoin ETF Proposals

5. Crypto Brokerage Firm eToro Completes Nearly $310 Million IPO in the US

Articles & Threads

1. "LetsBonk Surpasses Pumpfun, Believe Tops Billion Gold Dog, Meme LaunchPad Competition Heats Up"

Half a month has passed, and the enthusiasm for LetsBONK has not waned. The number of graduation tokens in the past 24 hours has surpassed PumpFun, especially after founder TOM mocked PumpFun and "blacklisted" its X account for copying LetsBONK's creator incentive activity, intensifying the competition. With the return of "skin-changing" Believe, the Solana on-chain "Battle of a Hundred Schools" is gradually becoming more exciting, bringing back long-lost liquidity and faster volatility to the chain in any case.

2. "Alpha Opportunity Still Exists, Starting from Scratch to Sort Out the Investment Logic of DePIN"

This article attempts to start from scratch to unravel the investment logic of DePIN, including why DePIN is a worthy investment track for us to pay attention to, and to propose a simple analytical framework. As DePIN is a comprehensive concept covering many diverse sub-tracks, this article will slightly zoom out to explain the concept from an abstract perspective, but will still provide some specific examples.

Market Data

Daily market-wide capital heat (as reflected by funding rates) and token unlocks

Data Source: Coinglass, TokenUnlocks

Funding Rate

Token Unlocks

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