Key facts
- On-chain trading terminals processed $6.35 billion in volume last week, the highest since the Trump launch in January 2025.
- Fomo and gmgn's trading bot accounted for 70% of the total volume.
- Several new meme coins and infrastructure tokens reached over $100 million in value.
- Bitcoin ETFs saw $175 million in net inflows on Friday.
- Bitcoin's 90-day correlation with gold reached its highest point at 0.56.
- Hunter Biden plans to launch a cryptocurrency called LAPTOP on Base.
On-chain trading terminals experienced their most active week since the Trump launch in January 2025, moving $6.35 billion in volume. Fomo and gmgn's trading bot were the primary drivers, accounting for 70% of this total. This surge was fueled by the launch of several new meme coins and infrastructure tokens, with some reaching over $100 million in value. The PONS token notably led the Robinhood Chain ecosystem, soaring to over $600 million.
Despite the significant volume on trading apps, overall Decentralized Exchange (DEX) volume remains at approximately 20% of its 2025 highs, indicating that this current activity is concentrated within specific trading platforms rather than a broad market recovery. Pump.fun, in particular, is contributing to ecosystem growth through substantial daily creator rewards.
In broader crypto markets, major cryptocurrencies saw dips over the weekend following a strong jobs report. Bitcoin's correlation with gold has reached its highest point since tracking began in 2017, while its correlation with the Nasdaq 100 has fallen to a one-year low. Solana has increased its maximum transaction size, and progress on Ethereum's EIP-8141 could allow users to pay gas fees in tokens or have applications cover them entirely.
Notable events include approximately 4,000 BTC leaving the Liquid federation wallet, with self-proclaimed white hats negotiating a return. Hunter Biden announced the upcoming launch of a cryptocurrency called LAPTOP on the Base network, though multiple platforms have since removed posts about it. Anonymous Cat has distributed $2.8 million worth of ZEC to holders through a transfer tax. Bitcoin and Ethereum ETFs saw net inflows on Friday.