Morning Minute | Altcoin SZN Is Here

TylerD's Market Summary

💰 Altcoin SZN Begins

Bitcoin has seemingly slowed down after its meteoric rise to $99k.

And as it struggles to breach the $100k wall, other crypto sectors are jumping in to the spotlight.

Primarily altcoins.

What Happened?

Alts had another incredible day of gains yesterday as Bitcoin dominance has fallen to 55% (from a local high of 62%).

Ripple led the charge, adding $100B in market cap in just a few weeks.

And now others are following in kind:

• BNB up 20% to $112B and flipping Solana
• Tron +60% on the day and up 90% on the week
• APE jumped another 25% to $1.5B
• CRV up 140% on the week
• SAND and MANA up double digits in metaverse

And new L1 HYPE is up 34% to $11.70 as well (breaching $13 overnight).

Why It Matters

There are many ways to win in a bull market.

Now the market is showing that you don't have to trade the memecoin trenches all day to get outsized gains, and they exist all over the place.

My gut read is that as long as Bitcoin chops under the $100k mark, alt SZN will rage on (once it does break it, all focus goes back to the leader).

Pay attention to where the money is flowing, as these early winners will likely be winners throughout the cycle.

And think about where this hot ball of money will rotate next...

🚚 What is happening in NFTs?

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

• Ethereum led NFT trading volume with $21.2M on the day; Bitcoin was next with $3.7M and then Solana with $2.6M
• ETH NFT leaders were mixed with Pudgy & Azuki leading; Punks -1% at 44.2 ETH, BAYC -4% at 20.2, Pudgy +1% at 14.9 ETH, Azuki +5% at 5.75
• Winds of Yawanawa jumped another 25% to 12 ETH leading art NFTs
• Forgotten Runes (+50%) led notable top movers
• BTC NFT leaders were mostly green; Bitcoin Puppets +7%, NodeMonkes -2%, OMB +2%, Quantum Cats -1%; Bitcoin Punks (+39%) and Bitcoin Frogs (+24%) led movers
• The Runes leaders were all green; DOG +6% at $692M mc, PUPS +20% at $269M, BDC +13% at $114M, GIZMO +20% at $33M, CYPHER +27% at $21M
• The Forgotten Runes Wizards teased a major announcement for today
• Several NFT art collections have jumped 25-100% or more in the past week including alignDRAW, Themes and Variations, Ringers, Terraforms and more

💰 Token, Airdrop & Protocol Tracker

Here's a rundown of major token, protocol and airdrop news from the day:

🌎 Around Crypto and Web3

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

• Crypto majors are mixed with BNB leading; BTC +1% at $96,000, ETH +4% at $3,720, SOL +4% at $232, BNB +20% to $772
• Several alts were up double digits including TRX (+60%), SAND (+26%), APE (+24%), and CRV (+17%)
• Memecoin majors are very green; DOGE even at $0.416, SHIBA +3%, PEPE +4%, WIF +5%, BONK +2%, POPCAT +9%
• Bitcoin and other crypto majors briefly plummeted on Upbit after South Korea's president declared martial law, with Bitcoin going as low as $61k before recovering
• Donald Trump is reportedly set to pick Paul Atkins for SEC Chair; Paul is a former SEC commissioner and previously supported the crypto industry
• Grayscale filed for a Solana ETF with the NYSE on Tuesday, in which it will convert its existing Trust
• Coinbase added MOG to its roadmap, just a day after adding MOODENG, leading to speculation of which memes would be next
• Pantera Capital raised $20M to invest in TON's Toncoin
• Celsius founder Alex Mashinsky will plead guilty to fraud charges including commodities fruaud and prine manipulation of the CEL token 
• Virgin Voyages became the first cruise line to accept Bitcoin as payment

🚀 Memecoin Movers 

• $SPERG (+250% to $10M market cap, SOL)
• $CONAN (+160% to $11M market cap, SOL)
• $CHAOS (+100% to $30M market cap, Base)
• $OPAIUM (+70% to $24M market cap, SOL)
• $BULLY (+755% to $130M market cap, SOL)

📈 NFT Floor Price Increase (ETH)

• Seraph (214%, 0.37 ETH Floor)
• Midnight Breeze (140%, 0.17 ETH floor)
• Bastard Gan Punks (85%, 0.27 ETH)
• Mutant Garden Seeder (75%, 1.75 ETH)
• Forgotten Runes (65%, 0.79 ETH)

🗓 Upcoming Mints and Events

Folks - my source for daily mints and events has shut down operations.

Given the general lack of interest in new mints on a daily basis, I'll be discontinuing this section of the newsletter, at least for now.

If I can find a good source for daily events, I will look at turning it back on.

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