I also sat down with Nick O’Neill (aka Choose Rich), Co-Founder and CEO of BoDoggos and internet media sensation to discuss whether retail investors are finally returning to crypto, what the explosion in Solana activity portends for the market, and where he believes the next major wave of capital will flow.

Welcome to The Market Runup! Every week we’re diving into what happened in the crypto market onchain and off-chain, as well macro developments — so you can get smarter on your Mondays and prepare for the week ahead.

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The launch of $ANSEM reignited activity across the Solana ecosystem, driving a sharp increase in trading volume, new token launches, and engagement on Crypto Twitter. 

For the first time in months, the market began to feel more like previous bull cycles, with community participation and retail speculation driving the majority of trades.

While it’s too early to call this a sustained trend, the return of meaningful retail activity suggests investors are once again willing to move further out on the risk curve.

Bitcoin spent much of the week trading around the low-$60,000 range as investors balanced improving inflation expectations against renewed geopolitical uncertainty. Markets briefly found support from softer economic data before risk sentiment weakened in the wake of discouraging news about the Iran War.

One of the biggest macro developments last week was in the U.S. labor market. June payrolls came in well below expectations, leading investors to sharply reduce the odds of an interest rate hike this month. 

The weaker employment data helped stabilize Treasury yields and improved sentiment across equities, but it also reinforced how dependent markets remain on incoming economic data. Investors are now shifting their attention to inflation reports and the September meeting for clues on the next policy move.

Episode 22: How to go Viral and Choosing Rich with Nick O’Neill

This week I sat down with Nick O’Neill, better known as Choose Rich, Co-Founder and CEO of BoDoggos, crypto media veteran, software developer, and internet sensation to discuss whether retail investors are finally returning to crypto, why Solana has regained momentum, and what the hype around $ANSEM says about the market.

We also discussed where liquidity is flowing; whether crypto has lost the competition for capital to AI; how creator-led communities may reshape the next cycle; and the biggest misconceptions investors have about today's market.

The percentages and metrics are based on a 7-day timeframe, unless noted otherwise.

Investors continue preferring assets that generate demand. Last week, Solana captured that demand through higher onchain activity and spot volume, and renewed retail participation. 

Whether this represents the beginning of a broader market expansion or a rotation within crypto will depend on whether capital begins flowing back into Bitcoin, Ethereum, and spot ETFs over the coming weeks.

Spot vs Derivatives Flows (what to watch):

Last week saw a notable improvement in spot market participation particularly within the Solana ecosystem. While perpetual futures continued generating healthy trading activity with open interest near $85 billion, a significant portion of new volume came from spot buying as retail investors returned to the market following the launch of $ANSEM. Liquidity spread beyond perpetual futures into onchain trading, with $ANSEM itself generating more than $41 million in 24-hour spot trading volume across Solana DEXs.

Going forward, investors should watch whether this renewed spot demand expands beyond Solana into Bitcoin, Ethereum and other major digital assets. If retail participation broadens and institutional demand begins improving through spot ETF inflows, it would suggest the market is transitioning from isolated speculation toward a healthier and more durable expansion.

Cross-asset correlations (what it tells you):

Traditional markets continued responding to economic data, interest rate expectations, and optimism surrounding artificial intelligence, while crypto's strongest performance came from ecosystem-specific developments. 

The surge in activity on Solana demonstrated that some digital assets can still generate their own narratives when new products, communities, or participants capture investor attention.

AI infrastructure, technology, and quality equities remained investor favorites. Meanwhile within crypto, capital flowed aggressively into Solana as renewed retail participation drove higher trading volumes, increased onchain activity, and strong engagement.

The excitement sparked by the launch of the $ANSEM token helped re-energize the broader Solana ecosystem, reminding investors that community-driven participation remains one of crypto’s greatest\ advantages.

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This information is for entertainment purposes only. It should not be considered financial advice, nor should it be used to make investment decisions. Cryptocurrencies are high risk and you should consult a financial professional before making any financial decisions. Make sure you do your own research.