Morning Minute | Welcome To The Crypto Rollercoaster

Morning Minute | Welcome To The Crypto Rollercoaster

TylerD's Market Summary

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๐ŸŽข Crypto's Roller Coaster Day

Bitcoin hit ATH yesterday just above $69,000!

For about 10 seconds.

Then all hell broke loose.

What Happened?

Yesterday, the price of Bitcoin hit $69,000 and then immediately sold off, crashing as lowas $59,000 on Coinbase at local bottom.

It has since recovered all the way back to $67,000.

That's a 15% swing down with a 14% swing back up. In a single day. With a $1.3T asset.

Only in crypto.

A few of the major headlines that fed into the mayhem:

So it was a healthy reset. And the ETFs are not slowing down.

Market Impact

Most of the majors, alts and memecoins had similar roller coasters as Bitcoin.

  • ETH dropped as low as $3,360 before roaring all the way back to $3,900 this AM
  • SOL touched $115 before rebounding to $131
  • DOGE went $0.18 to $0.13 and back to $0.17
  • And WIF, fresh off the Binance listing, went $1.90 to $1.05 and back to $2.10

It was one of those days that if you missed it entirely you'd have thought nothing major happened. And if you watched it all, you aged 5 years.

The NFT market didn't like the volatility though.

The BTC leaders all dropped about 20-30% from recent highs, though most have since recovered 50-75% of the losses.

ETH looks even worse.

Bored Apes dropped below 18 ETH on the day, and Mutants fell below 3 ETH (and below its 2021 mint price).

Pudgy Penguins fell below 15 and Azuki to 4.3. And Moonbirds fell below 1 ETH while CloneX hit 0.78.

Only Milady (+3%) and Kanpai Pandas (+10%) were the bright spots on the leaderboard.

We will soon find out if this is short term pain or a sign of things to come in a potential crypto rally.

๐Ÿšš What else is happening in NFTs?

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

  • Ethereum led NFT trading volume with $22.1M on the day; BTC was next with $20.7M and then Solana with $8.8M
  • The ETH NFT leaders were red again after ETH's rollercoaster day; BAYC -4% to 18 ETH, Pudgy -6% to 14.6 and MAYC -9% to 2.96 (below mint)
  • Yuga's "Dookey Dash Unclogged" closed beta will open today, with eligible parties notified via email
  • Doodles will open registration today for Project Gray an immersive experience and behind the scenes look at "redacted" planned for Apr. 4 in New York
  • A Skull of Luci sold for 70 ETH ($254k) on Tuesday
  • NodeMonkes were the top mover on the day tallying 80 BTC in volume, though the floor fell 7% to 0.73 BTC; most leaders fell 5-10%
  • OnChainMonkey was the winner, jumping 20% to 0.114 BTC; Nat Cats at 0.119 BTC, RSIC at 0.116, Puppets at 0.202, and OMB at 1.19
  • Quantum Cats revealed a new Golden Cape trait, promising it would be redeemanble for 1 Taproot Wizard in the future; floor holding at 0.4 BTC
  • Magic Eden reminded Bitcoin NFT traders that its Ordinals rewards are "next up"
  • Bold Leonidas teased new details for his upcoming Ordinals drop titled "Boldinals"
  • Solana NFTs were mixed on the day; Mad Lads +3% at 193 SOL, Tensorians -2% to 51, Parcl +28% to 14 and Frogana +11% to 4
  • Another NBA Top Shot moment featuring Lebron sold for $23,000 on Tuesday, the highest sale on that moment since Apr 2021
  • Mintify announced a new key sale along with its Blast marketplace launch this Friday; 10k NFTs priced at 0.0269 ETH each
  • MetaStreet financed a $10M CryptoPunks "mega loan" made possible by its Liquid Credit Tokens (LCTs), incorporating more than 60 Punks, financed by more than 5,000 lenders at different risk levels.

๐Ÿ’ฐ Token, Airdrop & Points Tracker

Introducing a brand new section, highlighting any major token or airdrop news from the day.

๐ŸŒŽ Around Crypto and Web3

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

๐Ÿš€ NFT Total Volume

  • BAYC (2,788 ETH, 17.99 ETH Floor)
  • MAYC (1,237 ETH, 2.96 ETH)
  • NodeMonkes (81 BTC, 0.75 BTC Floor)
  • Pudgy Penguins (1,024 ETH, 14.6 ETH)
  • Milady (558 ETH, 4.77 ETH)

๐Ÿ“ˆ NFT Floor Price Increase (ETH)

  • REWORLD by Roope (125%, 1.74 ETH Floor)
  • Heurist Imaginaries (30%, 1.3 ETH)
  • alignDRAW (22%, 1.72 ETH)
  • Checks - VV Edition (16%, 0.36 ETH)
  • Treeverse (14%, 0.43 ETH)

๐Ÿ—“ Upcoming NFT Mints and Reveals

Today is a busier day of drops spanning chains.

Bangers and Rune Aliens lead the day on Bitcoin. GIFDEAD drops on Base. And it's mostly art and memes today on ETH.

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

  • Bangers (10:00 a.m. ET)
  • Memes by 6529 (11:00 a.m. ET)
  • Jacek Markusiewicz x Verse - Barbarians (1:00 p.m. ET)
  • Rune Aliens (2:00 p.m. ET)
  • GIFDEAD - Droppers (5:00 p.m. ET)
  • Delabs Games - Metabolts (7:00 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 tyler.warner@luckytrader.com.

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.