Total crypto market smashed through $4 trillion this week. Altcoins are popping off, and institutional money is pouring in like it’s 2021.
Bitcoin tagged a fresh all-time high of $123,000 before cooling off to around $116,000. $SOL briefly broke $200 (hell yeah), pushing its market cap past $105 billion, before eating a -10% dip back to ~$184 (as of writing). That came with $57 million in liquidations, mostly late longs getting burned.
Solana’s chart seems like a great set up to rip through the resistance at $200-$220. If It can hold the support at $170-$185, than we should be good the next leg up.
Meanwhile, interest in a Solana ETF is... meh for now. ETH and BTC are hogging the spotlight, but none of the institutional giga-brains (Blackrock, Fidelity..) have listed their ETFs yet. Stay tuned.
Also worth noting: Solana increased its block size by 20%, boosting throughput 💪.
Air drop Farming Gone Wrong 🫣
X was buzzing this week after reports surfaced that a solana-focused investment fund, Asymmetric (founded by Joe McCann), is down ~ 78–85% YTD 💀
Apparently, their strategy involved “deliberate liquidations” to max out $HYPE rewards trying to farm Hyperliquid’s Season 2 air drop.
The fund racked up losses through liquidation-heavy “delta-neutral” farming
Some have speculated that Joe’s fund was heavily shorting ETH, which backfired.
Hyperliquids first airdrop (Nov 2024) gave out 31% of supply to early users, with another 38.88% set aside for future rewards. Hence, the Season 2 farming frenzy.
Token Spotlight: Graphite Protocol
$GP is having a moment — up +3,800% this month.
So, what’s behind the face melting rally?
Turns out, Graphite owns 40% of BonkFun, the memecoin launchpad that’s been eating Pump.fun’s lunch.
7.6% of BonkFun’s revenue gets used to buy back and burn $GP.
That’s a juicy flywheel.
Comparing their market caps you can see why people are fomo-ing into the Bonk-beta trade:
$BONK: $3.03B
$GP: $406M
Some stats from this week:
235 tokens graduated from BonkFun in last 24h
Just 60 graduated on Pump.fun
BonkFun claimed 68% of all launchpad trading volume
Yesterday alone, over $881K in $GP was bought back and burned. Graphite’s legit and might continue to soar with Bonkfun’s newfound success.
👉 Track GP on Vybe
Before you go—don’t forget to join Vybe Draw, our weekly contest where staking VybeSOL gets you a shot at winning a fat stack of $$$. We’ve already given away THOUSANDS. You can swap SOL for VybeSOL and register directly on our site.
Thanks for reading!
If you enjoyed this newsletter, smash that like button, share it with a fellow degen, and we’ll catch you in the next one.
- Vybe Intern