Morning Minute | MoonPay and PayPal Unlock Crypto for the Masses

TylerD's Market Summary

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⏫ Crypto Adoption Is Accelerating

Prices may be chopping this week.

But the bullish crypto headlines keep pouring in.

Several came through yesterday from Moonpay x PayPal, Jack Dorsey and Franklin Templeton, each of which will accelerate crypto adoption in their own way.

MoonPay Integrates PayPal

Yesterday MoonPay announced a major integration with PayPal for US users.

Key highlights:

• Fiat-to-crypto purchases for 110+ cryptos 
• Buying via standard PayPal payment methods available (PayPal balance, bank ACH, debit card) with just a few clicks
• Selling will be enabled soon

A telling quote from MoonPay co-founder and CEO Ivan Soto-Wright:

“Now more than ever consumers are exploring different avenues of financial systems–whether that be crypto, retail investing, or digital banking–and this partnership underscores our deep commitment to collaborating with trusted partners in the ecosystem to expand their access. By integrating PayPal, we are enabling consumers to transact with crypto in an already familiar environment, and significantly lower the barrier to entry for new users.”  

Now 100s of cryptocurrencies can be bought by millions of PayPal users with a few clicks.

The barriers are indeed being lowered.

Jack Dorsey is doing his part as well.

Jack DCA's Bitcoin And Shows Others How

Yesterday Jack tweeted out that his company Block is "DCA'ing bitcoin every month."

But that wasn't the important part of the tweet.

He also included a link to a 4-page primer titled "Bitcoin Blueprint for Corporate Balance Sheets."

The primer walks through their historical buys and how they executed them, their cold storage mechanisms, and insurance + accounting considerations.

Jack just shared the Bitcoin DCA playbook for any company (or wealthy invidivual) to follow.

And by the way - he is DCA'ing with a whopping 10% of gross monthly prifits.

It's not a stretch to think that at least a few companies will follow in his blueprint and begin their own DCA.

Jack and his company aren't the only ones ushering in adoption.

Franklin Templeton Lays Out Solana Thesis

The Franklin Templeton X account is becoming a must follow for their concise 2-pagers on a variety of crypto topics.

Yesterday they published "Solana: Accelerated Adooption."

Their core thesis is that Solana growth will continue, it will cement as the 3rd major crypto asset and it is uniquely positioned to catch the next trends in crypto.

Key takeaways:

• Airdrops -> wealth effect -> native tokens and memecoins surge (expect cycle to continue)
• Fees and DEX volume skyrocketing, to continue as performance improves
• Uniquely positioned for DePIN, payments, compression NFTs and limit order books
• Firedancer to solve current network limit issues

Favorite quote from the primer:

"Crypto enthusiasts are wondering what the next big thing in crypto will be...While we don't know the precise answer, we'd argue there is a strong chance it happens on Solana."

It's a convincing thesis.

Why It Matters

Momentum continues to build.

• MoonPay is unlocking crypto access for the masses with PayPal.
• Jack is teaching companies and major players how to safely DCA into Bitcoin.
• Institutions like Franklin Templeton are publishing theses on leading tokens, L1s and digital assets.

The signals keep getting stronger, and barriers to adoption keep getting broken down.

Higher.

🚚 What else is happening in NFTs?

Here is the list of other notable headlines from the day in NFTs:

• BTC led NFT trading volume with $9.8M on the day (+35%); ETH was next with $8M (+20%) and then Solana with $4.3M (+60%)
• NodeMonkes and Puppets both rallied ~20% leading BTC movers, now 0.4 and 0.31 BTC respectively
• Quantum Cats and OMB remain the leaders at 0.425 BTC and 0.42 respectively
• ETH NFT leaders were very green with most up 4-10%; BAYC +4% at 14 ETH, MAYC +4% at 2.6, Azuki +6% to 5.55 and Pudgy even% to 11.2
• DeGods spiked another 25% to 2.38 ETH as demand soared post-return home to Solana (multi-chain)
• Killabears and CEDEN Keystone Beavers jumped 40% and 30% leading other notable movers
• Solana NFTs were taken over by DeGods (+16% to 51 SOL) and y00ts (+20% to 13 SOL) in their first full day of trading post-bridge; Mad Lads -1% at 88 SOL, Tensorians even at 13.8
• Blast NFTs saw another $10M in volume , led by Plutocats (+10%), Blastopians (+19%) and BLASTR Keys (+130%)
• PacMan Blur loaded up 50 ETH in a wallet and began using dapps on Blast, winning 2.4 ETH on a 40+ eth spin roll on Yolo Games
• Pudgy Penguins teased that their plushy toys will be coming to amusement parks soon
• Cube Exchange bought 43 DeGods and 44 y00ts as part of its new partnership with DeLabs
• Garga shared a recap of The Otherside town hall which included a focus on Events, ODK alpha, new rewards for players, the launch of an L3 "Apechain", 3D Kodas, a new event code named Project Dragon and more

💰 Token, Airdrop & Protocol Tracker

Here's a rundown of major token or airdrop news from the day:

🌎 Around Crypto and Web3

A few other Crypto and Web3 headlines that caught my eye:

• Crypto majors are mixed this morning ahead of a key US jobs report this AM; BTC +1.4% at $59,050; ETH -0.5% at $2,970 SOL +0.5% at $137
• Memecoin majors were also green/even; DOGE even, WIF even, PEPE +6%, BONK +10%; HAMMY, TOOKER, MICHI outperform
• Bloomberg ETF analyst Eric Balchunas reported that the day 1 HK BTC ETF inflows were actually ~$290M vs the $11M previously reported
• MoonPay is integrating PayPal enabling fiat-to-crypto purchases for 110+ crypto assets using PayPal native payment methods
• Jack Dorsey announced that Block will DCA into Bitcoin every month, and shared details for other companies to do the same
• Coinbase commemorated its Q1 earnings with a new free NFT mint
• Sergito's new company Popset announced a $1M pre-seed raise to "build the next generation of onchain social"
  

🚀 Memecoin Movers 

• $HAMMY (+465%, $20M market cap, Solana)
• $TOOKER (+29%, $90M market cap, Solana)
• $MICHI (+27%, $120M market cap, Solana)
• $ANDY (+24%, $70M market cap, ETH)
• $USA (+22%, $75M market cap, Solana)

📈 NFT Floor Price Increase (ETH)

• Yogurt Verse (83%, 1.3 ETH Floor)
• Killabears (42%, 0.6 ETH)
• CEDEN Keystone (30%, 0.17 ETH)
• DeGods (25%, 2.38 ETH)
• Lasogette (24%, 0.48 ETH)

🗓 Upcoming NFT Mints and Reveals

Today is a slower day of new mints to end the week.

Expect most attention on FriendTech v2's chaotic launch day, Fantasy Top on Blast plus whatever catches hype into the weekend.

See the full list and dive in for more details with Swizzy's daily mint monitor. 

• Paradise Tycoon (9:00 a.m. ET)
• Memes by 6529 (11:00 a.m. ET)
• Anomaly (2:30 p.m. ET)
• VeeFriends Ticket snapshot (5:55 p.m. ET)

Enjoy this write-up and/or want to sponsor the Morning Minute? Follow along with me on Twitter @tyler_did_it or reach out via email to tyler.warner@luckytrader.com.