Smart Money Weekly (12/1/23)

chainEDGE Weekly Report 12/1/23

Gm anon.   Free post today examining the narratives, tokens and new launches that have been smart money favorites over the last week all from chainEDGE. Later today we will publish this week’s New Tokens to Watch for paid newsletter subs. (If you’d like to see me walk through using chainEDGE check out my latest live stream.)

Today, we see smart money have higher conviction positions (measured as number of $10k+ holders) in BANANA, BITCOIN, AEGIS, RLB, OLAS, CRESO and MUBI.

AEGIS has been the newest member of this group and the token has recently been hitting ATHs.  If you’re not familiar, AEGIS is an AI-enabled blockchain security project.   Despite the 40x+ run up in price since mid-November, our proprietary smart money cohort has remained quite bullish on the token, with total holdings essentially flat over this period.   Usually, we see pretty aggressive profit taking in these run ups, so our read of this data still skews bullish on the token as an AI narrative favorite.

You can feel this bullishness / indifference to the run up looking at swap data since the token has launched, with upfront buys, sniper profit taking, and then predominantly buyside activity since 11/19.   In our experience, smart money indifference to price is a very strong signal of “diamond hands” and as the AI narrative picks up steam, AEGIS will continue to be a favorite in the market, especially given valuation catch up potential to 0x0 at $95mm, and the thick liquidity position at $711k.

On the flip side, MUBI is an example of a token where smart token holdings have been trending down (obviously skews bearish).  Smart money holdings have fallen ~65% since mid-November, and they have extracted $353k in realized gains thus far.

In terms of top narratives, AI remains far and away the most popular token category for chainEDGE smart money.  By smart dollar holdings, the favorites in this category include:

·         GROK - $1.6mm, 9 wallets, 1.3% of market cap

·         AEGIS - $787k, 17 wallets, 4.4% of market cap

·         0x0 - $732k, 9 wallets, 0.8% of market cap

·         OLAS - $642k, 13 wallets, 0.04% of market cap

·         Imgnai - $557k, 6 wallets, 1.3% of market cap

·         TAO - $446k, 8 wallets, 1.4% of market cap

·         DMIND - $220k, 14 wallets, 5.5% of market cap

·         AIgentX - $195k, 10 wallets, 1.3% of market cap

Within this group, DMIND at $3.9mm market cap and over 5% of supply held by smart money, screens as an outlier and may have relative upside potential.

Looking at overall accumulation trends this week, smart money has net bought $50k+ of the following tokens:

Within these flows, BSSB, PEAR, CHEX, OCD and GEC screen as the most interesting as lesser known tokens that smart money is buying. 


Lastly, from a new launch perspective over the week, we have seen smart money interest in:

·         GFY – meme token based on Elon Musk’s recent interview, which has run to a $21mm market cap

o    $538k of smart holdings, and limited selling despite the recent run up

·         BSSB - $130k of smart holdings, stablecoin project on BTC network

·         GEC - $156k smart holdings, related to DOGE-1 space launch

·         GB - $35k of smart holdings, RWA project

·         JEST - $56k of smart holdings, TG bot for knife catching

·         UU - $62k smart holdings, OTC marketplace

·         Solareum - $244k, TG bot for Solana

·         WARPED - $82k smart holdings, Sci Fi Gaming project

·         DMIND – covered earlier

This wraps up this week’s chainEDGE smart money report.   Try out the platform today, before prices increase at the end of the month (and before chainEDGE 3.0 is rolled out).