On-chain trading and the movement of smart money are diversifying. The past 24 hours have seen a balance of maturity and speculative experimentation.

Overall capital flows remain relatively light, but the bulk of smart net buying is concentrated on Ethereum and Base. These two protocols, and the ecosystems therein, are attracting serious attention from high-level wallets and advanced trading ops.

Leading the charge of top performers are established DeFi projects like Maker (MKR), Aave (AAVE), and Uniswap (UNI), which directed net inflows on Ethereum toward those assets. Meanwhile, on the Base network, a totally new story is taking shape right now, with AI tokens and meme tokens emerging among the most purchased assets.

Ethereum’s DeFi Majors Still Command Respect

Smart money activity remains strongly concentrated in Ethereum’s DeFi protocols. Over the past 24 hours, the leading protocol for net buying was Maker (MKR), with net inflows of $100.61K. The project, which is renowned for its decentralized stablecoin DAI, seems to have been stirring up quite a bit of interest from savvy investors looking for stable-yield protocols and some governance exposure.

After the Maker protocol, the next highest net buys were Aave (AAVE) with $68.56K and Uniswap (UNI) with $59.04K. These protocols have long reigned as pillars of the DeFi ecosystem, and while the sizes of these flows surely look moderate compared to past market highs, this continued interest probably indicates that some smart traders see value in positioning within trusted, functioning infrastructure.

These inflows also underscore a much larger trend of allocating money with caution. In a calmer market, capital seems to be flowing into just a few projects—namely, those that are dependable and useful. Instead of pursuing shiny new trends, the smart money is flowing into the sorts of assets that have long been considered reliable and are, quite literally, in use.

Base Network Assets Make a Statement

Even though Ethereum is still at the forefront, the Base network is swiftly emerging as a suitable space for trial and niche innovation. Among the 10 cryptocurrencies that had the highest net inflows, four were on Base. The leading inflow came from AIXBT, which had $55.20K in inflows. AIXBT positions itself as an AI-powered trading agent, and its strong showing makes for a very interesting development.

Another project based on Base, Solace (SOLACE), launched not long ago and secured its place at the number six spot on the leaderboard with net inflows of $36.13K. Its appearance so soon after launch signals growing confidence in early-stage assets deployed on Base, especially as the Coinbase L2 gains developer traction and user adoption.

Completing the top ten for Base were NOICE with net buys of $33.70K and COCORO with $28.28K in net buys. This is a good reflection of something that looks to be a very consistent trend: Base is becoming a hub for smart money to explore speculative plays and frontier concepts outside the Ethereum mainnet.

https://x.com/Chyan/status/1928796176498806813?t=Ma8mfg1VC3FRxvDlEIPz9g&s=19

Having several Base tokens among the net top buys shows the growing popularity of the network. While Ethereum hosts established DeFi projects, Base is doing an impressive job of establishing itself as a network with a unique identity, one that often features innovative tokens and savvy financial maneuvers.

Memes, AI Agents, and New Narratives Rise

Beyond the conventional DeFi assets, new stories are starting to pull in the attention. SPX6900, a meme coin on Ethereum, notched up $44.89K in net smart money buys, placing it firmly in the top five. While meme tokens often rely on community enthusiasm and go viral, their inclusion in smart money activity suggests that some investors are making calculated, short-term bets on momentum and social traction.

The AI agent category is topped by AIXBT, which also leads in Base-based assets. Its growing traction is part of a larger movement in DeFi toward on-chain automation and artificial intelligence. As DeFi users seek new ways to generate yield, AI-native protocols and agent-driven financial tools are likely to see sustained and perhaps even burgeoning interest.

The sole token not on Ethereum or Base found in the top ten was ABCPHAR on Avalanche. The net inflows were a measly $26.52K. Its presence in the top ten is a gentle reminder of the kinds of opportunities smaller chains serve up. Even as flows grow concentrated around the major ecosystems, the smaller chains still give us chances for niche plays and pocket allocations with tokens like ABCPHAR.

Final Takeaways

Sophisticated capital movement can be seen in real time with the net inflows and outflows of smart money over 24 hours. The latest data show Ethereum and Base courting all of this attention, with nine of the ten top tokens issued or being used on these two blockchains. Core DeFi tokens—those that serve as backbone elements of decentralized finance—are still very much in the picture, acting as safe havens for capital.

With market tranquility comes a choosiness about where to put capital. Yet, in this period of relative calm, there’s also an opportunity to see clearly what investors with a brain and a backbone think is worthy of putting in the ground now — and what’s really set up to blast off when the market gets its groove back.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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Filed under: Bitcoin - @ May 31, 2025 9:52 pm