Morning Minute | Coinbase and Stripe Team Up

TylerD's Market Summary

🤝 Coinbase Partners with Stripe

Blast may have been in the headlines more this week.

But it's Coinbase and Base which have made the bigger splash.

What Happened?

Yesterday Coinbase announced a major new partnership with Stripe.

The goal is to "increase onchain adoption and provide faster, cheaper financial infrastructure."

The partnership has 3 key components:

• Stripe is adding USDC on Base to its crypto payouts
• Stripe is adding USDC on Base to its fiat-to-crypto onramp
• Coinbase is adding Stripe's fiat-to-crypto onramp to its Smart Wallet

So Stripe's huge global network now has access to cheap and fast money transfers via Base.

And Coinbase's user base gets to take advantage of Stripe's infrastructure within the Coinbase Wallet allowing instant buys via credit cards and Apple Pay.

Why It Matters

It's another huge win for Coinbase and Base, which lands support and the network of Stripe as it continues to grow.

And it's a win for broader adoption, as Stripe continues to signal its desire to go deeper into crypto for payments.

As batsoup said back when Stripe first announced their come back to crypto back in April 2024:

"I've said in the past that corporations are the trojan horse for mass crypto adoption and that it would likely happen via payments."

Now the Stripe payment options will be available on Solana, ETH, Polygon and Base.

This one looks like a win win win - a win for Coinbase, a win for Stripe and a win for all of us.

💰 MegaETH Finishes Mega Raise

Sometimes it really is all in the name.

MegaETH might have the strongest name in crypto, and it's coming with the strongest backers.

What Happened?

Yesterday MegaETH announced a $20M seed round to help develop the first "real-time blockchain."

MegaETH touts transaction speed of 100,000 TPS with millisecond latency where the only limiter will be hardware.

Their vision is "to turn cutting-edge ideas into everyday reality with fully onchain, interactive & sophisticated apps."

And they have some huge backers.

Dragonfly Capital led the raise, but angels included Vitalik, Joe Lubin, Cobie and several more of crypto's top founders and leaders.

The team also recently launched 0xMegaMafia as a "10x builder program" working founders to develop on this decentralized, cutting edge frontier.

Why It Matters

Speed and useful real-time apps would be a welcome addition to Ethereum.

Especially if security isn't compromised, as the MegaETH team says.

And with this level of backing, they'll have huge support and a ton of attention.

Look out for more from MegaETH in the weeks and months to come...

🚚 What else is happening in NFTs?

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

• ETH led NFT trading volume with $4.9M (+38%) on the day; Solana was next with $3.8M (+74%) and then BTC with $2.9M (+40%)
• ETH NFT leaders were green; BAYC 7% to 9.6 ETH, Pudgy even at 9.05 ETH, MAYC +15% to 1.73, Azuki +6% to 3.37
• Valhalla and Lasogette were top movers on the day, jumping 30% each
• BTC NFT leaders saw big green; NodeMonkes +5% at 0.175 BTC, Puppets +19% at 0.153 BTC, OMB +3% to 0.203 and Quantum Cats +5% at 0.269
• The Runes leaders were mixed but led by PUPS which soared 58% to $96M mc; DOG +2% at $590 mc, and RSIC +3% at $121M
• Solana NFTs were green on a 74% surge in volume; Mad Lads +6% at 72 SOL, SMB Gen 2 10% at 29, DeGods -5% at 18

💰 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 in green this morning with SOL leading after the ETF filing; BTC +0.5% at $61,500; ETH +1.3 at $3,440, SOL +4% at $145
• VanEck filed for the first Solana ETF ever in the US on Thursday, causing SOL to briefly hit $150
• Memecoin majors are slightly green with DOGE +3%, PEPE +1%, WIF +2% BONK +7%; MOG rips 26% to $634M and ATH
• Leading PoliFi tokens like TRUMP and BODEN all fell 10-30% after the U.S. Presidential debate last night
• Moonshot's first successful memecoin launch StarCat ($SC) reached $8M before falling back below $5M
• Coinbase filed a lawsuit against the SEC and FDIC related to their efforts to deny banking to crypto companies in the US
• Roaring Kitty posted a cartoon dog picture on his X yesterday, briefly causing the CHEWY stock and others in the petcare sector to soar before retracing; the CHEWY token also jumped and then fell

🚀 Memecoin Movers 

• $BILLY (+100%, $55M market cap, SOL)
• $MICHI (+48%, $150M market cap, SOL) 
• $NPCS (+64%, $21M market cap, SOL)
• $PUPS (+55%, $96M market cap, BTC / SOL)
• $USA (+36%, $35M market cap, SOL)

📈 NFT Floor Price Increase (ETH)

• Synthetic Dreams (81%, 1.25 ETH Floor)
• Candy Collective (71%, 0.22 ETH)
• Banners NFT (36%, 0.27 ETH)
• Valhalla (35%, 0.12 ETH)
• Lasogette (34%, 0.11 ETH)

🗓 Upcoming NFT Mints and Reveals

Today is a slower day of big drops to round out the week.

Most notable is likely chainvirus dropping Glitchmark on Bitcoin this morning.

But with the NFT market beginning to heat up across chains, the market for new mints is better than it has been in months - so look out for hot new runners.

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

• chainvirus - Glitchmarks (9:00 a.m. ET)
• Metalcore - $MCG token launch (9:00 a.m. ET)
• m/branson x Prohibition - Onchain Summer (12:00 p.m. ET)
• Racino (2:00 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.