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Reading https://threadingontheedge.substack.com/p/toes-weekly-highlights-65
TLDR 
This article covers the latest developments in the crypto market, including the return of the “Roaring Kitty” and its impact on $GME, the rise of AI-focused tokens, and the ongoing battle between Ethereum and Solana in terms of economic value generation.
Key Points 
- The upcoming US presidential election is bringing crypto into the national political discourse, with former President Trump and candidate Robert F. Kennedy Jr. voicing support for crypto.
- The liquid staking sector is heating up with new entrants like Symbiotic, introducing competition to established players like Lido and Rocket Pool.
- Solana’s network generated higher total economic value than Ethereum’s layer 1 on May 12th, demonstrating its ability to generate meaningful fee revenue.
- AI-focused tokens exhibited strength, possibly fueled by a tweet from a prominent trader, with potential catalysts including NVIDIA’s earnings and the possible release of GPT-5.
- Memecoins had a strong week, with $PEPE leading the pack, and the return of “The Roaring Kitty” on Twitter leading to a 40% premarket pump in $GME.
In-depth Summary 
The article covers a wide range of topics in the crypto market, including the political landscape, the liquid staking sector, the battle between Ethereum and Solana, and the performance of AI-focused tokens and memecoins.
In the political realm, the upcoming US presidential election is bringing crypto into the national discourse, with former President Trump and candidate Robert F. Kennedy Jr. voicing support for crypto. This could impact market sentiment as crypto gains mainstream attention.
The liquid staking sector is heating up, with new entrants like Symbiotic aiming to allow staking of popular non-Ethereum assets alongside ETH. This introduces added competition to established players like Lido and Rocket Pool, giving stakers more choices.
On the Ethereum vs. Solana front, the Solana network generated higher total economic value (transaction fees + MEV revenue) than Ethereum’s layer 1 on May 12th. This demonstrates Solana’s ability to generate meaningful fee revenue despite low transaction costs, although it doesn’t account for Ethereum’s layer 2 roll-ups.
In the AI token space, the sector exhibited strength, possibly fueled by a tweet from a prominent trader. Potential catalysts include NVIDIA’s earnings release, OpenAI’s announcement, and the possible release of GPT-5 this summer. Tokens like $RNDR, $AR, and $NEAR performed well, while the “ASI” coins ($FET, $AGIX, $OCEAN) lost some steam.
Memecoins also had a strong week, with $PEPE leading the pack and trading near its all-time high. The return of “The Roaring Kitty” on Twitter led to a 40% premarket pump in $GME, the stock associated with the infamous Reddit-driven short squeeze.
ELI5 
This article talks about the latest happenings in the crypto world. It covers things like:
- The upcoming US election is making crypto a big topic, with some politicians supporting it.
- New companies are trying to make it easier to stake different cryptocurrencies, not just Ethereum.
- Solana is making more money than Ethereum, which is surprising.
- AI-related crypto tokens are doing really well, maybe because of some big tech news.
- Meme coins, like the one based on Pepe the Frog, are also having a good time, especially after a famous trader came back.
Writer’s Main Point 
The main point of the article is to provide a comprehensive overview of the latest developments and trends in the crypto market, covering a wide range of topics from the political landscape to the performance of different asset classes.
