The seven-day chart wasn’t precisely a disaster for main crypto belongings Wednesday, however most prime cash had been within the pink. That included a 3% slide for Bitcoin after a sudden drop in open curiosity for BTC futures amongst institutional crypto buyers.

In the meantime, Popcat confirmed particular power amongst meme cash. Most blue chip memes had been down for the week, like Dogecoin (-6%), Pepe (-2%), and Bonk (-2%). However Popcat posted astounding 52% weekly features by the center of the day Chicago time Wednesday.

Right here’s why Popcat’s worth popped over the previous week.

Why Popcat Topped 7D Value Leaders Wednesday

Amongst different ongoing help for Popcat’s worth, resembling its giant market cap (above $600 million this week), excessive liquidity, and robust meme neighborhood, Binance lately supplied a crypto derivatives product for the Solana cat meme coin. The alternate announced the new Popcat product every week in the past on Thursday, Aug. 22.

For the filthy degenerate who doesn’t discover 52% weekly worth features on a meme coin thrilling sufficient, Binance listed Popcat-USDT perpetual futures contracts with as much as 75x leverage on its menu.

The corporate additionally listed futures contracts for Tron’s SUN tokens on the similar time, serving to the $300 million governance and utility token to fly up the charts by 91%, based on CoinMarketCap information.

Lookonchain spotted a whale-sized, $5 million buy of Popcat utilizing SOL tokens on Aug. 22. That in all probability chummed up the waters for the Popcat crowd.

Layer 1 Solana Assist for Popcat

Solana was the one prime 10 crypto that was up for the week ending Wednesday. So which may have been why crypto markets rewarded one in all its main meme cash with large features.

Over the previous 12 months, enthusiasm for Solana and Ethereum’s competitor’s meme cash has been unstoppable. That was clear sufficient with the market-beating Bonk rally in This autumn. Bonk is Solana’s reply to Ethereum’s Shiba Inu.

It posted over 7,000% ROI for 2023, based on CoinGecko information, and was the main crypto for the 12 months by this metric. However Pepe did warn final 12 months that the canine days are over. Popcat delivered essentially the most ROI out of all main meme cash in Q1 this 12 months. The efficiency this week reveals the massive cat’s market has the fever to maintain pumping in Q3.