Morning Minute | The World Is Coming for Bitcoin

Morning Minute | The World Is Coming for Bitcoin

TylerD's Market Summary

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๐Ÿ’ฐ Everyone Is Coming for BTC

The past few weeks have been a brutal bear market for crypto.

I jest, but sentiment on the timeline reflects more concern than should be warranted for a 20% pull back in Bitcoin after a 2.5x over the past year.

Warranted or not, BlackRock thinks those concerns will be alleviated soon.

What Happened?

BlackRock's head of digital assets said that more (and different types of) institutions are coming in a recent interview.

Robert Mitchnick described it as “a re-initiation of the discussion around bitcoin,” and that we will "probably" see big new movers soon.

Who is coming?

  • Sovereign wealth
  • Pension funds
  • Endowments

That's about as big as it gets.

Mitchnick goes on to say:

“Many of these interested firms – whether we're talking about pensions, endowments, sovereign wealth funds, insurers, other asset managers, family offices – are having ongoing diligence and research conversations, and we're playing a role from an education perspective."

BlackRock is certainly playing their part.

But they aren't alone in the realm of major players driving more attention to Bitcoin.

Saylor Builds on Ordinals

Last night, news broke that Michael Saylor is building on top of Ordinals.

He is building a decentralized identity protocol on top of the Ordinals protocol, according to

Not much additional information has circulated yet, but the details seem less important here than the signal.

Arguably the most important holder of Bitcoin in the world is legitimizing Ordinals, a sector of Bitcoin which has been heavily scrutinized by the "laser eyes" cohort.

It's a big deal.

Why It Matters

More adoption is coming.

From different types of funds buying Bitcoin to prominent figures building on top of Bitcoin (Ordinals).

Just yesterday the ex-PayPal President said that "Bitcoin is the neutral settlement network for all payments in the world."

The Bitcoin movement is hitting a new crescendo.

Don't lose the plot or get shaken out because of a 20% pullback in price.

๐Ÿšš 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 $7.5M on the day (-10%); BTC was next with $7M (+2%) and then Solana with $2.7M (-1%)
  • ETH NFT leaders were green in a solid rebound; BAYC +4% at 13.4 ETH, MAYC +10% at 2.5, Azuki +3% to 5.3 and Pudgy +2% to 11.3
  • DeGods spiked 20% to 1.9 ETH after they (and y00ts) began to bridge back to Solana on Wednesday, with Phantom adding their own support with an in-app banner
  • NodeMonkes led the BTC NFT board with 22.5 BTC, rallying 10% to 0.345 BTC; Puppets also rallied 10% to 0.268 as did RSIC (+10% to 0.05)
  • Runestones were given a 25% Magic Eden diamond reward bonus, though still only came in 4th in volume with 12 BTC (floor even at 0.02)
  • Solana NFTs were mixed on the day after DeGods (44 SOL) and y00ts (10.7 SOL) made their debut; Mad Lads -1% at 89 SOL, Tensorians +9% at 13.8
  • Blast NFTs saw a huge day of volume in their 1st full day of trading on Blur; Blastopians +15%, Plutocats +30% and Blastosaurz +64% were notable winners
  • PAC REKT fell 30% back to mint price after rewards were removed by the Blur team
  • VeeCon moved its VeeCon ticket NFTs to Base for this year's conference

๐Ÿ’ฐ Token, Airdrop & Protocol Tracker

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

  • Layer Zero announced its snapshot #1 is complete, indicating a potential airdrop is on the horizon
  • Magic Eden launched its Diamond rewards for BTC NFT traders with a retroactive drop based on historical trading volume
  • Fantasy Top launched its mainnet seeing over $3M in revenue in the first ~10 hours
  • Pacmoon completed its $PAC airdrop 3 along with a teaser announcement coming today
  • The Arena added a new social DEX feature, allowing users to purchase select tokens in two clicks from their feed while rewarding the original poster

๐ŸŒŽ Around Crypto and Web3

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

  • Crypto majors are green this morning; BTC +1% at $58,200; ETH +4% at $2,990 SOL +12% at $136
  • Memecoin majors were also green as Zhu Su called for "alt szn now"; DOGE +5%, WIF +17%, PEPE +17%, BONK +11%; SC, ROCKY, POPCAT outperform
  • Runes were mixed with DOG leading (+7%), RSIC down (-7%) and BITCOIN PEPE MATRIX (+74%) and LOBO (+27%) outperforming 
  • Rollbit burned 71M $RLB to conclude its Solana migration phase

๐Ÿš€ Memecoin Movers 

  • $SC (+200%, $125M market cap, Solana)
  • $ROCKY (+180%, $44M market cap, Base)
  • $MICHI (+64%, $95M market cap, Solana)
  • $TOOKER (+64%, $69M market cap, Solana)
  • $BODEN (+60%, $334M market cap, Solana)
  • $POPCAT (+47%, $530M market cap, Solana)

๐Ÿ“ˆ NFT Floor Price Increase (ETH)

  • KIP (82%, 0.14 ETH Floor)
  • Tarot (58%, 2.94 ETH)
  • Mittaria Genesis (49%, 0.22 ETH)
  • alignDRAW (25%, 1.5 ETH)
  • DeGods (23%, 1.92 ETH)

๐Ÿ—“ Upcoming NFT Mints and Reveals

Today is a slower day of new drops.

The highlight is definitely Friend Tech v2 if it indeed launches today.

With alts heating back up and the crypto board flipping green, the macro backdrop is better than it was earlier in the week. If v2 comes with a splash, it's a set up for fireworks (or else $FRIEND will dump like every other recent airdrop).

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

  • Sadwonderer - Faceless (11:00 a.m. ET)
  • Origin Mint (12:00 p.m. ET)
  • FriendTech v2 (1:30 p.m. ET)
  • Aleks Ustya - Tessellation (11:00 a.m. ET)

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Disclaimer: The author or members of the Lucky Trader staff may own NFTs discussed in this post. Furthermore, the information contained on this website or the Lucky Trader mobile application is not intended as, and shall not be understood or construed as financial advice. AI may have assisted in the creation of this content.