Morning Minute | A $1.7B Airdrop Stimulus Hits Today

TylerD's Market Summary

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🎁 Airdrop April Is Here

Airdrop SZN was supposed to start in March.

And then seemingly every major protocol kicked the can down the road, leading to a resounding chorus of "drop the damn token."

Well some of the teams are finally listening. 

We got our first taste of Airdrop April yesterday with Ethena, two more coming today with Wormhole and $PAC, and 2 more coming in the next week.

Ethena's Smash Debut

Ethena kicked off Airdrop April with a smash debut yesterday, with its $ENA token soaring 65% to a $1.3B market cap and whopping $14B FDV.

The synthetic dollar and yield protocol has made a big splash in the liquid re-staking circles (35% yield on ETH deposits).

It's backed by Cobie, Binance, Ansem, rewkang and several other, and already boasts over 118k users.

It certainly looks to be a force in the liquid re-staking market.

Claim here if you have used Ethena and are eligible.

Wormhole Opens This Morning

Wormhole's long-anticipated $W token finally launches this morning at 7:30 am ET.

The token has been trading at $1.60 on Whales pre-market, signaling a potential $2.8B market cap at launch (and $16B FDV).

For a quick reminder on tokenomics:

• 10B total tokens
• 1.8B initial circulating
• Token format is ERC20 and SPL
• 17% for community with 11% unlocked today

That would indicate a potential $1.76B stimulus into the crypto ecosystem.

Claim your tokens here if eligible.

And note that a Solana wallet is required to claim the tokens.

Blast's $PAC Airdrop Comes This Afternoon

The leading community memecoin of Blast launches its 2nd airdrop at noon ET today.

The tokens will be distributed to content creators (no action for those who have claimed already) who posted about the $PAC token, with allocations based on views.

$PAC is trading at just an $8M market cap ($35M FDV), which pales in comparison with the hundreds of Solana memecoins which launch and go higher on a daily basis.

So why does this one matter?

Well, there aren't many memecoin (or NFT) options to choose from on Blast right now.

And $60M+ is set to unlock today (or soon) with the Munchable team set to return the funds.

So Blast traders are going to be liquid - the question is, where will they park those funds?

If you haven't claimed, make sure to claim here before 12 pm ET today.

Tensor Foundation Says $TNSR Claim Next Monday

We got one more blockbuster airdrop announcement yesterday.

Tensor's $TNSR token will be at least claim-able next Monday, April 8th.

That doesn't necessarily mean a TGE, so we are still waiting on more details.

Big news nonetheless.

TLDR on the announcement:

• Season 3 of farming has ended
• Season 4 begins today
• All Treasure Boxes from SZNs 1-3 can be claimed & opened Apr 8
• Boxes contain $TNSR, claimable on Jupiter LFG claimpad
• Tokenomics & governance documentation available during the claim

This one will be a very welcome boost for Solana NFT farmers, many of which are likely underwater.

What's Next?

This list is just the beginning.

$ZEUS is coming on April 4th (tomorrow).

Many others such as Kamino, NFTfi, Arcade, Parcl, Stars Arena and Friend Tech could launch tokens as soon as this month.

And of course, we may see some surprises.

It's going to be a good month.

🚚 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 $8.9M on the day (+17%); ETH was next with $8.2M (-15%) and then Solana with $7.7M (+14%)
• Bitcoin leaders were mostly red with NodeMonkes at 0.48, Bitcoin Puppets at 0.23 and Ink at 0.029
• Runestones and RSIC held steady at 0.047 and 0.052 BTC as the halving and Runes launch draws closer
• ETH NFT leaders were red again on the day with most down 1-5%; BAYC -1% to 11.8 ETH, Pudgy -1% to 11.9, Azuki -4% to 4.27 and MAYC -5% to 1.92 led
• Pandora and Yogapetz were notable winners, jumping 33% and 26% respectively
• Solana NFTs were mixed on the day; Mad Lads -4% at 125 SOL, Tensorians +4% at 40, Claynos -5% at 18.5
• OpenSea announced that creators can now use the ERC721-C contract to ensure royalties are enforced on OpenSea 
• Roope Rainisto announced his next collection "Vacation" is coming in May and will be his "main art collection" of 2024
• Foundation is celebrating its Base launch with "GENESIS" - a series of auctions from major artists like Roope, Jack Butcher, neurocolor, Terrell Jones and more

💰 Token, Airdrop & Points Tracker

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

• NIM introduced its new economic framework for AI agents ahead of its $NIM token claim ending early Thursday
• Another Blast exploit occurred on Tuesday as Avolend apparently rugged its protocol
• Metastreet announced a snapshot for holders of its LCTs on Blast for Blast points and gold distribution
• Dark Farms teased final tests for a $BOME burn mechanic, to be used for artist and meme airdrops
• 9dcc announced major $DEGEN token rewards for check-ins at its Weds and Thurs NFT NYC pop-ups and for pre-orders on their site

🌎 Around Crypto and Web3

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

• Crypto majors are mixed this morning; BTC +0.2% at $66,080; ETH -0.5% at $3,310; SOL +3.8% at $188
• Ethena's ENA token debuted and soared 65% to $0.93 and a $1.3B market cap ($13.9B FDV)
• Ansem's cat's memecoin $HOBBES saw over $200M in its first day of trading, spiked to $100M at peak and inspired a wave of Ansem related memecoin derivs
• The U.S. Government reportedly moved 30.1k Bitcoin ($2.1B) recovered from Silk Road on Tuesday, in a sign that some are interpreting as upcoming sell pressure
• Paradigm in talks to raise a $750M fund, the biggest fund since the 2022 crypto crash
• Tron integrated with Dune Analytics to bring data to its users

🚀 NFT Total Volume

• Pudgy Penguins (868 ETH, 11.88 ETH floor)
• BAYC (637 ETH, 11.8 ETH floor)
• Runestones (24 BTC, 0.047 BTC floor)
• MAYC (385 ETH, 1.92 ETH floor)
• NodeMonkes (13 BTC, 0.48 BTC floor)

📈 NFT Floor Price Increase (ETH)

• Enforcer Foundation (53%, 0.3 ETH Floor)
• Pandora(34%, 3.75 ETH)
• Yogapetz (30%, 0.47 ETH)
• Skytopia (23%, 0.53 ETH)
• Redacted Remilio (17%, 1.14 ETH)

🗓 Upcoming NFT Mints and Reveals

Today is a very busy day of tokens and mints.

$W went live this am and the $PAC airdrop comes this afternoon.

There are a few Ordinals drops in Pepe Ordinals and "f r a n k", Memes by 6529 and more art.

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

• $W claim (7:30 a.m. ET)
• Pepe Ordinals (9:00 a.m. ET)
• Memes by 6529 (11:00 a.m. ET)
• ClownVamp - New York Now (11:00 a.m. ET)
• $PAC claim ends (12:00 p.m. ET)
• f r a n k (12:00 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.