Top 10 hot-money flows with explanations

(note that these explainers are reflexive by definition)

1. $BANANA - The bot landscape has consolidated into 5, and $BANANA is the only one with a token. A burn mechanism is in place, and the true FDV = mcap (CMC is inaccurate). It has decent liquidity and the catalysts are an upgraded Solana bot and a web app.

2. $SOL - Mindshare and capital schelling point of this cycle.

3. $PEPE - Strongest meme on the internet. The $DOGE of this cycle.

4. $MKR - A monster money-making machine. The upcoming new token is a massive catalyst. Rune bought it back at lows. AI-enabled governance is on the horizon too.

5. $ALPH - PoW blockchain bet for this cycle. The $KAS of 2024.

6. $KARATE - A consumer bet for this cycle.

7. $KMNO - The Aave of this cycle. No unlocks for a while. An airdrop campaign could take it to $10b TVL. This should lead to a violent repricing for this illiquid token.

8. $TON - The gaming and social hub for this cycle. No unlocks till Nov 2025, basically.

9. $TAO - Best consensus AI bet.

10. $HNT - Best consensus DePIN bet.