The Jupiter Eco Wakes Up: Uranus Pulls A 4x

Written by Jason Krutzky, Chartered Meme Technician at Spot Trading.

What a week it has been! Bitcoin saw a minor correction from an ancient whale realizing a fortune, Ethereum continued its steady climb towards the elusive $4k mark, and Solana outperformed its peers, digging into multi-month highs. In other news;

• Memestock mania is here

• $BONKYO gives us a new meta

• Stocktwits is giving away $300k

• Spot's Reddit is full of alpha

I believe we're at a pretty critical juncture for all of crypto, and I think Solana holds the next key. Let's dig in!

Analysis On The Majors

$BTC (+0.67%)

It was a quiet week for Bitcoin, as it continued to consolidate just below last week's all-time highs. One thing to note is that it swept last week's low and appears to be closing back within last week's range. This is bullish and sets up the potential for a proper reversal, but to confirm, we'll need to see next week's candle close above this week's high.

If it wants to go lower in the coming week(s), keep your eyes on both the trendline connecting previous highs as well as the light blue range drawn below. A retracement back to the 104-109k range would be an excellent buying opportunity in this analyst's opinion.

$ETH (+1.84%)

Ethereum continues to be strong, pushing even closer to previous highs around the $4k mark. As a bull, I'd almost rather see it consolidate just below all those highs rather than trade above them right now. It's had a huge few weeks, and I think that a few weeks of rest before attempting to gain $4k would be more constructive than trading up to $4.2k right now.

Remember, those highs are targets for profit taking, and once targets are hit, often times reversals come. Momentum is running hot right now, and giving it a bit of time to reset would be most bullish to me. That way, when the time comes to take those highs, it can do so with strength and not look back. 

$SOL (+2.77%)

It's TA lesson time, and SOL's monthly chart is a great example.

Upside reversals occur in a 4-candle sequence. You have C2 (Candle 2 in the sequence, June), which sweeps the low of C1 (Candle 1 in the sequence, May) and then closes back within C1's range. Then, C3 (Candle 3 in the sequence, July) closes above the high of C2. If all of these things happen, as is happening right now on SOL, you expect a C4 expansion (Candle 4 in the sequence, August) and target the nearest important high. In this case, that's ATHs.

Now, am I saying we're going to hit ATH's next month? No. But I am saying we are set up to. Anything can happen in the markets, so you must always be on your toes, but as long as we close this month above last month's high, I believe there's a decent chance we see $300s in short order.

The Jupiter Eco Wakes Up: Uranus Pulls A 4x

$URANUS

This is just absurdity. A 500% move in two sessions. Over 800% from the lows just five sessions ago. This is what pent-up demand + FOMO looks like.

I'm going to dig into this narrative a bit more just below, but for now, what you need to know is that $URANUS is the king coin to come out of the Jupiter Studio launchpad.

We highlighted it when it first launched and suggested that it would be the main coin in the Jupiter meme ecosystem, and it feels darn good to get that validation this weekend. 

It can be difficult to gauge targets for where this can go, but a decent thing to consider is where the other king coins of other launchpad ecosystems are currently trading. $USELESS, Bonk's most important memecoin, is currently trading at $375m. $FARTCOIN, which sprang from the Pump trenches, is currently trading at $1.3b. I'll leave the rest to you and your imagination. 

Buy URANUS

Jupiter Founder Announces Support for $URANUS

Since the launch of Jupiter Studio, Jupiter's memecoin launchpad, skeptics have been critical of the founding team.

'Why aren't they talking about the coins? Why aren't they buying the coins? Why aren't they supporting the community?' 

The cacophony of opinionated voices shouting this narrative became deafening, but all the while, communities were forming. Doing the hard work. Proliferating the meme. Getting creative. Having fun. 

And this weekend, they were rewarded for their efforts. 

Jupiter founder, @wearemeow, announced that he had taken a position in $URANUS. Read the full tweet here. 

As you can see in this week's top chart, $URANUS absolutely ripped on the news, from a $14m market cap on Friday afternoon to a $71m market cap as of the writing of this note, on Sunday morning. 

While I do think it's particularly noteworthy, and very bullish, that Meow has come out in support of $URANUS, I think the most interesting piece of his tweet is this: 

What he's saying here is important. He's not going to use Jupiter funds to buy and burn any Jupiter Studio coins. He doesn't have to. 

Why?

Because he has an entire suite of tools to offer, instead. We'll dig into that tomorrow, though. 

Bonk Eco Update

Despite Jupiter Studio names taking up most of the air in the room this weekend, the Bonk ecosystem continues to dominate. Here are a few examples of said domination. 

First, daily launchpad volume, which hit a whopping 82.8% on Friday. The kids are making coins on Bonk, and basically ONLY Bonk.

And then there's this: Top tokens launched in the last 7 days. More domination. 

Simply, the Bonk eco has all the rizz right now, and that's because the Bonk team wants it more.

They've got the firepower and the will to drive their coins into the spotlight, and now, they have a potential worthy adversary in the Jupiter team that should only fuel their fire more.

The Launchpad Wars are alive and well.

Polymarket Is Coming To The US

Polymarket just bought QCEX (a CFTC-licensed exchange) for $112M to get back into the US market legally.

Quick backstory: Polymarket launched in 2020 and let Americans bet on real-world events with crypto. In 2022, the CFTC shut them down for offering unregistered trading products. Now they're using this acquisition to skip the long licensing process and come back compliant.

Why this matters: Polymarket blew up during the 2024 election with billions bet on who'd win the presidency. Now, US traders can get back in on betting on everything from politics to pop culture events.

The competition: They'll be going up against Kalshi and Crypto.com's prediction markets, but Polymarket already has the brand recognition and user base.

Bottom line: This gets Polymarket out of regulatory jail and back to serving US customers legally. If you're into event trading or just want to bet on random stuff happening in the world, they're about to be an option again.

Ancient BTC Whale Sells $9B

I close today's note with this absolutely stunning press release from Galaxy. 

If you were wondering why Bitcoin struggled this week, this is why. But it's important to understand how different today's market is than it used to be.

An 80k BTC sell caused a minor 2-3% correction. The market absorbed a $9B profit-taking event and barely flinched. Just wow.

In closing, I want to express something I feel is important.

As a passionate trader and participant in the markets myself, I can say that this trade is truly what dreams are made of.

The emotions this person must have felt over the years, the conviction they must have had, the rollercoaster they were on. I can't even begin to imagine it, and I can only hope to contain a fraction of what this person has in them that allowed them to make this moment a reality.

Incredible trade, whoever you are. I absolutely salute you.