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Issue 5 - This week’s movers or lack thereof?

In the last week we’ve seen the number of daily users trickle back up past 40K per day and hold that level. The reason being is that there is a slight uplift in price of solana the last 7 days. Let’s take a look at the wider market and which projects transacted the most volume. Primates of course continued their hot streak, bouncing up from lows of 13-15 SOL and retesting 30s for the second time. Over the course of 7 days the project has transacted 75K volume despite having a total listing percentage between 15% and 20%.

The next closest was Art of Mob which tried a NFT first – leading their community to believe it was a 25 SOL mint and then surprising them with a free mint. This social experiment ended up working well for project owners as they have completed 50K volume since mint and holding a floor of 3.45 SOL with 13.13% listed. In their first 24 hours the project managed to hit highs of 6.50 with the reverse-FUD hype controlling crypto twitter for a brief moment.

Udder Chaos was the third highest transacting project and second highest that minted this past week with 42K volume. There are 3K holders and holding a 6 SOL floor with just over 12% listed. If you ask me, that’s a very bullish start with the project testing 9 SOL once already and bouncing off that local top. In the current state of the market, this is as bullish as it gets.

Okay Bears was the established project pick of the week with murmurs of something dropping in the near future as they were back in the volume game with 33.5K for the last 7 days. Midweek the looming hype/announcement controlled the rise in price as Okay Bears managed to get back to their old sentiment holding level of 125 SOL. It’s since bounced back off that local top and resting at 100. Okay Bears might just be the best swing trading project – something we’ve mentioned before in our blog.

Trippin Ape Tribe has seen some nice bounces off 15 SOL over the last month. Despite a relatively slow run outside the first 2-3 days of minting, this project has bounced up off 15 SOL not once, not twice but three times now and is sitting at a level of 23.80 for now. At this rate, if they hit 15 again, it’d be worth making a call in our Broccoli Dao. Listing since the first time they hit 15 SOL (Jun 7) has dropped from 700 to 500 at the moment.

Magic Ticket managed to clear 12K volume with normie tickets rising as high as 4 SOL at certain points of the week. Some sources tell me that as the MagicEden boat party was pulling out of the harbour, Magic Ticket prices were pumping up past 3.50. Since then prices have dipped back down but are a nice 200% up from where they were at the start of the week.

Perhaps the story of the week was actually Solana Monkey Business. Over the course of this year, there’s been nothing short of downright controversy which has halted the growth this project and its community deserves. With murmurs of potential un-entanglement on the horizon, floors have risen up hitting 200 SOL this week – a mouthwatering jump from the lowly 140s on June 17. They’ve made the run off 170 this week with 8K volume the last 7 days.

What’s mildly concerning however is the fact that as we look further down towards Blocksmith Labs, we’ve yet to see a bounce from 70 and only 4.3K volume this week. The same can be said for a lot of the mainstay projects you’re not seeing in this top 20 list. It tells me that even though daily transactions are trending back up this week, overall volume is still yet to recover even though the price of SOL has returned back above 40 USD. Risk appetite is slowly creeping back in but it’s far from convincing at the moment is my take.



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