Market Highlights:
1. The hype for on-chain contract platforms has surged, with a market capitalization of $33 billion entering the top 10, potentially rising to a market cap of $50 billion, which is half of bn. Hype chips are highly concentrated, with total contract positions reaching an all-time high, and recent daily revenues automatically repurchasing about 500,000. Whales prefer to use hype.
2. Meme coins such as fartcoin, moodeng, and labubu have soared. Moodeng is on American Robinhood. Labubu, after crashing to zero, has reached a new high, being a global IP of Pop Mart, similar to chillguy.
3. The wlfi concept coins, such as b and lista, have surged. B is the meme for wlfi's stablecoin, usd1, while lista is a collaboration with wlfi. The market expects that wlfi, backed by Trump, will launch coins at the market peak in October, which will rapidly reach bn.
4. AI coins like wld and cookie have surged. The a16z fund has purchased $130 million in wld. Cookie aims to create a business similar to Kaito's infofi, with a market cap lower than Kaito.
5. The largest DEX platform in the Sui ecosystem, Cetus, was hacked and has fallen sharply, dragging down the meme coins on the Sui chain collectively. The ETH chain has recently been used for money laundering.
6. Huma on the bn launchpool; Huma Finance is RWA and PayFi, with a business model similar to the web3 version of P2P lending.
