GM Anon!

What a week. Tariffs hit harder than expected, stocks cratered, and the Fed is playing it safe—waiting for “greater clarity” as macro risk piles up. $3.25T got wiped from equities, while crypto managed to stay afloat, even seeing inflows. Altcoins are bleeding, BTC dominance is rising, and uncertainty is the name of the game.

Let’s break down what it all means.

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TLDR

• Tariffs announced by Trump triggered a $3.25 trillion wipeout in U.S. equities.

• Fed Chair Powell maintained a cautious tone, stating it’s "too soon" to determine monetary policy direction amid inflation concerns.

• Crypto markets showed resilience, with $5.4 billion in inflows, contrasting sharply with the broader risk-off sentiment in equities.

• Bitcoin dominance rose to 63%, as capital rotated out of altcoins and into majors, reinforcing a defensive stance from investors.

• MetaMask rolled out two key updates—revoking smart contract approvals via Portfolio, and gasless token swaps—enhancing UX and security.

• Ethereum saw its first significant inflows in weeks, with $250 million entering the ecosystem, while Berachain suffered $450 million in outflows.

• Fartcoin was the top performer among Solana meme tokens, with an 81.9% rise in smart money wallet balances despite broader market weakness.

Macro Recap: Tariffs Rattle Markets, Fed Holds Back, Crypto Weathers Storm

This week’s market action was defined by two major forces: Trump’s aggressive tariff announcement and the Fed’s cautious stance in response to rising economic uncertainty.

Trump’s “Liberation Day” speech unveiled sweeping new trade restrictions, including a 10% blanket tariff on imports, escalating to 34% for Chinese goods and 25% for foreign cars and auto parts. Framed as a move to bolster domestic manufacturing, the policy sparked concern over long-term economic fallout. Analysts warn the move could erode global trust in the U.S. as a reliable investment hub—shaking confidence that’s historically drawn foreign capital into U.S. markets.

Markets reacted violently. U.S. equities saw $3.25 trillion in value wiped out in a single session, while crypto saw modest inflows of $5.4 billion—one of the few green spots on the board. The Nasdaq and major tech names like AAPL, NVDA, and TSLA were hit hardest as investors shifted to a defensive posture.

Adding fuel to the fire, Fed Chair Jerome Powell took a neutral stance during his public comments, emphasizing it’s still “too soon” to chart the path forward. While inflation data has softened in recent prints, Powell pointed to tariffs as a potential longer-term inflationary risk. The Fed, he said, remains “well-positioned to wait for greater clarity.”

This hesitation, coupled with signs of decelerating economic activity—such as weakening retail sales and rising unemployment—has reopened the debate around potential rate cuts later this year. While Powell didn’t hint at quantitative easing (QE) outright, the market is clearly sniffing the possibility of renewed monetary stimulus should macro conditions deteriorate further. That’s helped bolster crypto sentiment, especially as the White House clarified that digital assets would face 0% tariffs.

What This Means for Crypto

The crypto market is responding to macro uncertainty in a familiar way: with a relative outperformance compared to traditional risk assets. Bitcoin and Ethereum held firm despite broader market carnage, a move likely driven by expectations that the Fed could lean dovish again if the economy falters.

Meanwhile, altcoins remain under pressure. BTC dominance has climbed to a four-year high at 63%, while altcoin indices like OTHERS are down 14% this week. That trend reinforces the idea that investors are rotating into quality and waiting for structure to emerge before redeploying risk.

Tariffs may be the trigger, but the bigger picture is about liquidity. If the Fed pivots toward easing, crypto could benefit from renewed capital flows—especially as institutional narratives around Bitcoin ETFs, ETH staking, and stablecoins continue to evolve.

For now, though, the market remains in a holding pattern. Powell is watching. So is crypto.

MetaMask Finally Delivers Long-Awaited UX & Security Upgrades

MetaMask pushed two important updates this week that have been a long time coming. First, users can now revoke smart contract approvals directly via the MetaMask Portfolio interface using Revoke.cash integration. This makes managing wallet risk far easier and reduces the chances of getting drained by dormant approvals—an essential security habit now just a few clicks away.

Second, in a huge leap for usability, MetaMask has removed the need to hold native gas tokens when performing swaps. Users can now pay gas directly with the token they’re swapping. For anyone navigating across multiple chains, this is a massive quality-of-life improvement and a real step forward for DeFi UX.

Majors & Memes

There’s little to report this week in terms of major token activity, with most large caps being down and trading sideways. However, a few notable underperformers stand out.

Pi Network (PI) continues to lose momentum post-launch, with price action falling flat and market sentiment deteriorating rapidly—raising concerns about long-term relevance. Berachain (BERA) also struggled, with its token sharply underperforming in tandem with significant capital outflows from the broader ecosystem.

Other weak performers this week include MOVE, UP, and TIA, all of which saw sustained selling pressure.

Flows

Net flows are shifting across chains this week. Ethereum is finally seeing green again, pulling in $250M in net inflows—its first notable uptick in a while. Meanwhile, Berachain flows have reversed sharply, with over $450M in net outflows after last week’s surge in activity. A clear sign of capital rotation as markets adjust to broader volatility.

Mindshare 

Fartcoin continues to dominate attention charts, holding a firm grip on mindshare across the week. This lines up neatly with the +81% smart money increase, which now looks like it pre-empted (or helped fuel) its sustained visibility. It’s a clear case of capital and conversation moving in lockstep.

Titcoin has reclaimed a significant slice of attention after slipping earlier, even though it saw a -16.8% drop in smart money holdings. This suggests more organic chatter—possibly retail-led—despite quieter whale activity. It’s still one of the most held tokens by value though, so it’s not out of the game.

Meanwhile, BUTTCOIN is seeing increased visibility again but suffered a -18.3% pullback in smart money exposure, reflecting likely exit flows or rebalancing. Despite strong engagement, the conviction just isn’t matching right now.

Ghibli, which briefly led last week’s attention race, has faded. Smart money also trimmed positions, down -27.5%, showing a clear cool-off both in positioning and public interest.

Interestingly, RFC, which popped in the smart money analysis with ~$11M market cap and recent inflows, has seen modest but growing mindshare. It's worth watching for a potential breakout if engagement continues to track with positioning.

YZY and COLLAT remain middle-tier in terms of mindshare but have maintained decent wallet activity—COLLAT in particular saw significant inflows last week, and while it’s off the highs in attention score, it’s likely consolidating behind the scenes.

Among the low-visibility tokens, jellyjelly continues to fade from both charts and wallets—nowhere near its earlier hype. Smart money has largely exited, and the market seems to be moving on.

Now moving onto mindshare data from Nansen, we can see some strong overlaps with what we picked up earlier via ChainEdge — but also a few notable divergences worth tracking.

Fartcoin continues to dominate across the board. It's consistently led in attention on both Nansen and ChainEdge, and with smart money allocations up nearly 82% this week, it’s one of the few meme tokens seeing both narrative momentum and real positioning.

Titcoin and Ghibli, by contrast, are cooling off. Their smart money holdings declined sharply (–16.84% and –27.53%, respectively), and this drop is mirrored in Nansen’s popularity feed, where their visibility has clearly slipped over the week.

ARC stands out as a bit of an anomaly. Despite minimal smart money movement (–0.61%), it’s gained some visibility on the Nansen side. Whether that turns into capital flow or just noise remains to be seen, but it’s worth watching.

What’s interesting is that some tokens visible in ChainEdge data—like BUTTCOIN, jellyjelly, and $COLLAT—don’t appear in Nansen’s broader feed. That suggests they’re still running in tighter, community-driven circles or are early in their narrative cycle.

Meanwhile, Nansen brings forward newer names like FLUID, BIGTIME, and BROCCOLI, which haven’t yet shown up in ChainEdge tracking. These could be more retail-driven trades or pre-rotation plays not yet attracting serious capital.

Fartcoin continues to lead by both mindshare and money. Titcoin and Ghibli are fading. ARC is heating up in visibility, but not yet in flows. And retail is poking around new names that smart money hasn’t touched yet. It's a clear reminder that attention doesn’t always equal action—but watching where the two overlap can offer some solid signals.

Smart Money Update 

Despite sharp sell-offs sweeping across the broader market, a handful of smart wallets are still active in Solana’s meme sector—rotating, trimming, and doubling down on select plays. It’s risk-off for many, but some tokens are holding smart money attention.

Fartcoin emerged as the standout this week, jumping +81.94% in wallet balance. It’s one of the few tokens showing strong bid support amid the bloodbath. With $1.42M across 5 tracked wallets, it's clear that conviction remains high—even as other plays get trimmed. Expect volatility here, but the positioning suggests insiders are still riding the wave.

Titcoin continues to hold top billing in dollar terms ($1.43M), but saw a -16.84% drawdown in the last 7 days. Some of that is likely market-related, but the size of the position suggests long-term confidence remains, even if some profit-taking or de-risking is underway.

ALON, TRUMP, and arc all saw modest decreases in wallet balances, each down less than -4%. These are likely natural responses to price volatility rather than wholesale exits. Notably, TRUMP still holds $3.65M, indicating large holders are staying put—for now.

Ghibli, one of last week’s stars, saw the sharpest drop this week at -27.53%, signaling a strong round of trimming or rotation out. Still, 4 wallets remain exposed, so it hasn’t been abandoned outright.

BUTTCOIN also got clipped hard (-18.35%) but remains sizeable at $185K across three wallets. Position sizing here suggests partial exits rather than full capitulation.

Elsewhere, jellyjelly, YZY, and Shoggoth were mostly flat, showing minor changes in positioning. Shoggoth in particular held steady at $70K, with no change in wallet balance—a potential sign of holders waiting for volatility to pass before making moves.

Smart money isn’t exiting Solana’s meme sector en masse—but it is rotating. We’re seeing consolidation into outperformers like Fartcoin, cautious trimming of legacy plays like Ghibli and BUTTCOIN, and surprisingly stable exposure in select low-cap names. The market may be turbulent, but some insiders are still playing the long game.

Smart money continues to reposition within the Ethereum ecosystem, this time showing a clear rotation into high-beta meme coins amid heightened market volatility. While majors stay muted, wallets are leaning into tokens with explosive upside potential.

ALF leads with a +68.7% gain in holdings, followed closely by Mog at +77.48%, both signaling strong conviction from top wallets. Doge, BITCOIN, and SPX also saw solid inflows, reflecting renewed interest in familiar narratives with fresh momentum.

Meanwhile, WOLF, ANDY, and PEPE posted steady growth or held firm, suggesting ongoing support despite the choppy conditions.

Not all plays held up—CULT and JOE saw minor outflows, with CULT slipping -5.74%, likely a result of smart money rotating out of laggards in favor of better risk-reward setups.

Ethereum’s meme sector appears to be heating up again, and while flows remain selective, the capital that is moving is doing so with purpose.

That wraps up this post—we hope you found the insights valuable. See you next week, anon! 🚀