Onchain PvE / PvP Index
PvE ≥ · PvP ≤ · Breadth = meme/launchpad tokens on Solana, Base, ETH, BSC, Robinhood. Hover (or tap) the chart to see the date and values.
Priced tokensDEX chainsSOL
Updated
How to read
- The navy line is the score (0–100). At 65 or above (green background) the market is PvE: new money is coming in and most tokens rise together. At 40 or below (red) it is PvP: little new money, gains concentrated in a few names, bots extracting value. In between is neutral.
- All five components point the same way: higher means more PvE-like. Concentration and extraction are inverted, so a high value means gains are spread out and MEV extraction is low.
- Watch the turns, not single days. The score is smoothed over 3 days. A move up through 65 starts an episode (purple strip). A slide toward 40 means participation is fading.
- Thin grey line = equal-weight variant. When it agrees with the main score, the reading does not depend on the chosen weights.
- Middle panel: SOL price on a log scale; gold blocks are known hot onchain periods, labelled by hand for reference. Bottom panel: the five components as 7-day averages, useful to see which driver is moving the score.
- The index is daily (UTC days). The newest day can use provisional DEX data that is revised the next day.
Full methodology →Green background = PvE (≥65), red = PvP (≤40). Purple strip at the top = official PvE episodes. Middle panel: SOL price (log), gold = known hot onchain periods. Bottom panel: the 5 components (7-day average). Drag the slider below or click 1M/3M/6M/1Y to zoom; double-click to reset.
Big-cap breadth (top-150 coins on Binance)
How to read
- Blue = % of the top-150 coins closing above their 200-day average (long-term trend); orange = % above their 50-day average (medium-term).
- Above 80 = almost everything is trending up (broad strength, often stretched). Below 20 = extreme washout; these zones are marked by dotted lines.
- The dotted purple line is the 20-day average of the blue line; blue crossing it shows breadth turning. The grey line (right axis) is BTC for context.
- Use it to tell whether onchain weakness is local to memecoins or market-wide: majors breadth can be healthy while the PvE/PvP index is in PvP.
Full methodology →% of the top-150 market-cap coins (Binance USDT pairs, no stablecoins/wrapped) closing above their 200-day and 50-day averages, daily UTC closes. Dotted lines at 80 and 20 mark the extreme zones. Same method as the 'Breadth crypto' app, recomputed by us from Binance data.
Trench Index (tehcscreener)
How to read
- Blue area = Trench score (0–100) from tehcscreener.com, measuring launchpad and trading-bot activity. Bands: Ded 0–19, Cold 20–39, Active 40–59, Hot 60–79, Euphoric 80–100.
- Orange line (right axis) = our PvE/PvP score for comparison. Both low or both high = the two independent measures agree.
- Trench reacts to activity (launches, bot volume); PvE/PvP reacts to price breadth and money flow. Activity rising while breadth stays weak usually means churn, not a broad rally.
- The dotted grey "proxy" line (hidden by default; click it in the legend) is our recomputation from public data, kept as a cross-check.
Full methodology →Daily 0–100 trench score from tehcscreener.com (/api/v1/trench), same as the 'Trench Index' app: launchpad volume 35%, bot volume 25%, new tokens 20%, bot fees 20%; each a percentile vs the last 90 and 365 days (blended 60/40); rises count the same day, drops ease in (cooldown 0.65). Bands: Ded 0–19, Cold 20–39, Active 40–59, Hot 60–79, Euphoric 80–100. Dotted grey = our recompute from public per-pad/per-bot data (proxy). Orange (right axis) = our PvE/PvP score, for comparison.
Solana DEX volume
How to read
- Bars = daily Solana spot DEX volume (log scale). Hatched orange bars are provisional: some DEXes report late, so those days are topped up with estimates and revised automatically.
- Lines are the 20/50/100-day averages. Volume above a rising 20-day average = activity expanding.
- The lower panel is RSI 14 of volume (not price): above 70 = volume surging vs recent days, below 30 = drying up.
Full methodology →Daily Solana spot DEX volume (DefiLlama, UTC days), cleaned like the index: one-day single-DEX spikes clipped; the newest 2 days are provisional (late-reporting DEXes filled in) and shown hatched in orange; hover shows raw vs adjusted. Lower panel: RSI 14 (Wilder) of daily volume, not of SOL price.
PvE episodes
How to read
- Each row is one PvE episode: days with score ≥ 65, merged when gaps are 7 days or shorter.
- Entry = close of the day after the episode starts; exit = close of the day after the last PvE day. SOL in/out % is SOL's move over that window.
- OOS (out-of-sample) episodes start from July 2025, after the thresholds were fixed, so they are the honest test of the signal.
Full methodology →Entry = close of the day after the episode starts; exit = close of the day after it ends. OOS = out-of-sample (from 07/2025). Click a column header to sort.
2026 top runners (by episode)
How to read
- Best-performing tokens in each 2026 episode. Pick an episode with the tabs.
- Ranks only count tradable tokens: estimated entry market cap ≥ $1M, excluding tokens with suspicious single-day 10× jumps or mismatched price sources.
- Peak x = highest sustained price after entry ÷ entry price. Hold returns = what you would have made holding until the index left PvE, or until 14 days after the episode ended.
- This is a look-back table: it shows what led, not what to buy next.
Full methodology →Rank among tradable tokens: estimated entry market cap ≥ $1M, excluding tokens with a single-day jump above 10× or mismatched price sources. Peak x = highest price held for at least 2 days within 30 days after the episode ends, divided by the entry price. Hold return = held until the index exits PvE / until 14 days after the episode ends. Entry mcap = estimated with current supply.
Strategy backtest during PvE episodes
How to read
- Simple rule-based baskets entered when an episode starts and exited when it ends, compounded across episodes.
- Every token trade pays 2% round-trip costs (SOL: 0.5%) and gains per token are capped at +300%, to avoid a single outlier carrying the result.
- Random = the same rule entered on random non-PvE days. A strategy is only interesting if it clearly beats its random counterpart.
- Use the OOS tab for the honest read; IS (in-sample) is the period the thresholds were tuned on.
Full methodology →IS = in-sample (2023-04 → 2025-06), OOS = out-of-sample. Compounded % across episodes. "Random" = same strategy entered on non-PvE days. Analysis only, not investment advice.
Sources: DeFiLlama, tehcscreener.com, Binance, GeckoTerminal, DexScreener, Jupiter, pump.fun, CoinGecko (enrichment). Auto-updated twice a day (~08:05 and 20:05 ICT, UTC+7).
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