Weekly Narratives and Catalysts (December 19th)
• $INJ Volan Mainnet Upgrade, the largest in Injective history, is expected to happen soon. The Injective ecosystem is also shaping with the recent memecoin mania with $NINJA/$KIRA and airdrop farming, strongly increasing $INJ demand.
• Memecoin season, following the $BONK rally, has started with meme coins surging over various chains, such as $WIF on Solana and $COQ on Avalanche. They've recently broken through the $100M Market Cap mark, and with such high volumes, T1 exchange listings are not out of the question.
• Bitcoin Frogs, the largest Bitcoin NFT collection, have been ripping lately as it surpassed all of Ethereum blue chips NFT 24h trading volume combined, currently sitting at a $148m market cap
• EigenLayer will reopen restaking deposits today at 6pm UTC with a 500k global LST cap. Early Queue is also available through KELP, which has reached $40M, allowing users to farm both EigenLayer points and KelpDAO miles, which are expected to be converted into their native tokens in a future airdrop
• $SNX Andromeda upgrade is expected for December, mainly featuring a chain expansion to Base, the full V3 rollout, and a buyback and burn mechanism with 50% revenue share.
• $WLD has recently had a 20% reduction in its circulating supply, following the end of previous market-making loan deals
• $FXS Halving takes place on December 20th, with Fraxchain and BAMM launches in January.
• $MATIC will make important RWA announcements on December 20th.
• $AIOZ inflation rate will start to decrease by 1% on December 25th for four years.