Pro
Running Back Robinhood: The Rise of Moonshot
Key Insights
- Memecoins continue to take a disproportionately high share of trading volume despite being a small fraction of total crypto market capitalization.
- Moonshot, a newly-launched trading platform on iOS and Android, gives users a Robinhood-like interface for trading memecoins. It has surged in popularity the past month.
- Average returns across all listings have been positive as outsized winners have more than made up for more frequent losers. Listing-to-date returns have increased in the months of September and October as more users have been buying new listings.
- Metrics like MC/Holders and holder distribution were not very predictive of future returns in the sample and time-frame that we analyzed.
- However, looking at divergences between holder growth and price action may be useful for gauging whether a newly launched token may have continued momentum.
The Moonshot Opportunity
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Prior to joining Messari, Andrew was an equity trader at a proprietary trading firm. His primary interests are understanding market dynamics, riding trends, and finding the occasional onchain winner.
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