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TylerD's Market Summary
📈 Memecoins Lead As Uptober Begins
Yesterday's newsletter showcased how green the month of October is, and Q4 overall, following a green September.
Well we're already off to a fast start.
And it's memes leading the way.
What Happened?
Crypto majors are up 1-2% as October kicks off this morning, with Solana leading +2%.
Meme majors meanwhile are up 5-10%, led by the Solana leaders WIF (+10%), BONK (+10%) and POPCAT (+11%).
It was a great day across the Solana meme board, with other top movers including:
- WYAC +330% to $8.8M
- MANYU +173% to $17.9M
- GIKO + 148% to $47M
- nub +86% to $20M
- STAN +80% to $7.4M
- FWOG +44% to $101M
That list includes old memes and new memes, showing that both can have success in this market.
Speaking of new - recent runner MOODENG is back to $240M after getting listed on Bybit.
Over on Ethereum, it's a similar picture.
PEPE (+5%) and MOG (+10%) are leading the way up top.
And most of the mid-tiers are up 10-40%, including:
- JOE + 64% to $29M
- ZYN +50% to $30M
- MAGA +24% to $37M
- SPX +23% to $140M
It was a good day for memes.
But not just memes.
What Else Happened?
EigenLayer tokens finally unlocked in a much anticipated event.
The unlock has not disappointed so far, with the token opening at $4 and a $6.8B fdv ($750M mc).
That market cap puts Eigen in the top 100 cryptocurrencies at #90, next to other tokens like EOS (86) and Ethena (94).
Why It Matters
Starting with Eigen - it's nice to see a token launch not immediately go south in early trading.
It seems we may have finally reset from the airdrop meta price action of Q2 - a welcome sign for other protocols who are thinking of launching this year.
As for memecoins leading the way into Uptober, it's an important signal.
Memes aren't going away.
It's also important to see which memes are pumping; largely, the old established meme leaders and "cult" memes, along with some new ones.
There have been concerns that only new memes would pump in a new cycle, which now seems invalidated.
It's still early, but a welcome sign for memecoin enthusiasts.
🚚 What else is happening in NFTs?
Here is the list of other notable headlines from the day in NFTs:
- Ethereum led NFT trading volume with $3.9M on the day; Solana was next with $2M, and then Bitcoin with $1.9M
- ETH NFT leaders were mostly red down 2-4%; Punks even at 28 ETH, Pudgy -2% at 10.25, BAYC -3% at 10.65 ETH, Azuki even at 5.33
- Realms (+55%) and Mintify Genesis (+54%) were notable top movers
- BTC NFT leaders were red down 3-10%; NodeMonkes -4% at 0.187 BTC, Puppets -9% at 0.117 BTC, OMB -2% at 0.187, Quantum Cats even at 0.25
- The Runes leaders were mostly green; DOG +1% at $411M mc, RSIC +7% at $86M mc, PUPS -8% at $70M and BILLION DOLLAR CAT +23% to $50M
- Solana NFTs were mostly red; Mad Lads -1% at 48.6 SOL, SMB Gen 2 -2% at 23, DeGods +10% at 16 SOL, Claynos -6% at 11.5
- Beeple dropped a new art piece "TREE OF KNOWLEDGE," a kinetic sculpture with a switch that allows users to see "signal" and "noise" views
- Zagabond shared a brief "State of Azuki" post where he shared updates the team has accomplished against prior feedback points, including the launch of their Anime series, the Collector System, Garden Gathering calls, Azuki Passport program, Anime 2.0 and more
- Notable Pepes teased its Series 7 kickoff happening at 1 pm ET today, featuring cards from Batzdu and Botto
💰 Token, Airdrop & Protocol Tracker
Here's a rundown of major token, protocol and/or airdrop news from the day:
- The Trump family's World Liberty Financial opened up its whitelist for some Americans, shared in a tweet by the former President
- EigenLayer's tokens officially unlocked for trading, opening at $4 and a $6.9B fdv
- OCH (On-Chain Heroes) is launching an idle RPG onchcain game on Abstract, one of the first major names to declare
- Shape, the art-focused L2, officially launched and celebrated with several opening day mints from artists such as DeeKay Motion & Harvey Rayner
🌎 Around Crypto and Web3
A few other Crypto and Web3 headlines that caught my eye:
- Crypto majors are green up 1-2% this morning; BTC +1% at $63,930; ETH +1% at $2,640, SOL +2% at $157
- Memecoin majors are more green; DOGE -1%, SHIBA +2%, PEPE +6%, WIF +10%, BONK +10%, POPCAT +11%, and MOG +11%
- Jerome Powell said that the Fed's base case is 2 more 25 bps cuts, ending the year just 50 bps lower
- Solana opened up applications to its Solana Incubator with an Oct 4 deadline
- Coin Center founder Jerry Brito is stepping down at end of year after a decade of service
- Jesse Pollack announced he will be taking a leadership role with Coinbase Wallet and joining their Exec team, in addition to his leading Base
🚀 Memecoin Movers
- $WYAC (+330% to $8.8M market cap, SOL)
- $MANYU (+173% to $17.9M market cap, SOL)
- $GIKO (+148% to $47M market cap, SOL)
- $nub (+86% to $20M market cap, SOL)
- $STAN (+80% to $7.4M market cap, SOL)
📈 NFT Floor Price Increase (ETH)
- Realms (56%, 0.44 ETH Floor)
- Mintify Genesis (54%, 0.08 ETH)
- Valhalla (25%, 0.1 ETH)
- tiny dinos (25%, 0.03 ETH)
- CEDEN Keystone Nodes (23%, 0.08 ETH)
🗓 Upcoming Mints and Events
Today is another busy day as October kicks off.
There are several new art mints, spanning Notable Pepes, Sabet and artist Arno Cartsens.
See the full list and dive in for more details with Swizzy's daily mint monitor.
- Sushi - Dood Street (9:00 a.m. ET)
- Jungle (10:00 a.m. ET)
- NoCap (11:00 a.m. ET)
- Sabet - Ultra Kitties (12:00 p.m. ET)
- Vincent Van Dough - Notable Pepes (12:00 p.m. ET)
- Arno Carstens - Sunburst (3:00 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.d.warner@gmail.com.
TylerD's Market Summary
💡 Azuki Introduces Anime.com
The major NFT teams have been cooking this summer.
Bored Apes and their founders are going back to basics, relaunching Dookey Dash, a BAYC Treasure Hunt and an in-house product incubator.
The Pudgy team is busy launching the Abstract L2 looking to broaden its ecosystem.
Doodles are launching successful short films and music videos.
And now - it's Azuki's turn.
What Happened?
Last night, Zagabond announced the launch of Anime.com as a new platform aimed at transforming the anime industry through web3 tech.
The project is part of the broader vision for Anime 2.0, which seeks to create an ecosystem where anime fans and creators can share in the success of the industry.
For a quick summary of Anime.com
- Aims to offer on-chain experiences, including a variety of IPs
- Developed in partnership with Arbitrum on AnimeChain
- Will be released in phases
- Not live yet but users can join the waitlist at the site now
In Zagabond's announcement, he shares how anime IP was the first step towards the 2.0 vision, and infrastructure is the next step.
And Anime.com is that infrastructure.
The market liked the news, with Azuki and Elementals each jumping about 10-13% each (to 5.36 ETH and 0.44 ETH respectively).
Why It Matters
The global anime audience is huge with over 600M fans worldwide.
A shocking stat came out recently that a whopping 72% of people in the US watch anime, a higher total than Japan.
Zagabond and the Azuki team are looking to go after that market.
They've got good IP, shown from the success of their NFTs and now their recent anime shorts.
Now they have to build the infrastructure to support their web3 vision of allowing shared ownership and new ways of engagement in an anime ecosystem.
If they can pull it off, the upside is huge...
🚚 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 $4.6M on the day; Solana was next with $2.5M, and then Bitcoin with $2.3M
- ETH NFT leaders mostly chopped but Azuki outperformed on Anime Chain news; Pudgy even at 10.75 ETH, BAYC even at 12.1 ETH, Azuki +14% at 5.37, Azuki Elementals +12% to 0.44
- CEDEN Nodes (+47%) & Station3 (+45%) were notable top movers
- BTC NFT leaders were mostly red; NodeMonkes -4 at 0.13 BTC, Puppets -5% at 0.088 BTC, Quantum Cats -8% at 0.25 and OMB -1% to 0.159; FSIC (+78%) and Fractal Puppets (+30%) led
- The Runes leaders were also red; DOG -7% at $240M mc, RSIC -5% at $59M mc, PUPS +5% to $26M
- Solana NFTs chopped; Mad Lads even at 60 SOL, SMB Gen 2 +1% at 25.6, DeGods -1 at 25.5, Claynosaurz -5% to 17.2
- Zagabond introduced Anime.com as a new platform aimed at transforming the anime industry through web3 technology, providing deeper engagement for fans and creators
- An XCOPY edition of 10 "Mortal" sold for 220 ETH ($520,000)
- Claynosaurz is teaming up with Gameloft to create a mobile game featuring their signature dinosaur characters
- Prohibition Art announced it will be winding down, live through the rest of September, but reminding everyone that it's art "lives on"
💰 Token, Airdrop & Protocol Tracker
Here's a rundown of major token or airdrop news from the day:
- Predict dot Fun launched a new Fantasy Top market where users can bet on who will win the Elite Main Tournaments
- Hamster Kombat's $HMSTR token went live on Binance Launchpool and Super Earn
- Pump Fun held a spaces with its community on Thursday, just hours after news was shared that just 100 of the nearly 2M tokens launched on Pump are above a $1M market cap
- Magic Eden will expand to Monad, marking its 5th blockchain
- Treasure announced the launch of an L2 on Zksync
🌎 Around Crypto and Web3
A few other Crypto and Web3 headlines that caught my eye:
- Crypto majors are slightly green this morning up 1%; BTC +1% at $58,325; ETH +1% at $2,370, SOL even at $134
- Memecoin majors are more green with DOGE +5%, PEPE +2%, WIF +1%, BONK +1%, MOG +5%; Tron's leading meme $SUNDOG wicked to $1B after a $2M buy (now $340M)
- Donald Trump announced that he will launch World Liberty Financial on an X Spaces with Rug Radio on Monday night live from Mar-A-Lago
- eToro has settled with the SEC $1.5M and agrees to reduce its crypto services as a part of the settlement
- Coinbase announced its new Wrapped Bitcoin product cbBTC went live on ETH and Base, accumulating $100M in market cap on Day 1
- Grayscale launched its SUI Trust (+20%) and announced plans for an XRP Trust (+8%)
- A Judge elaborated on her ruling in the Kalshi vs CFTC prediction market case, citing the Chevron Rule and stating that the CFTC did not have authority to block them
🚀 Memecoin Movers
- $SPX (+78%, $18M market cap, ETH)
- $LOCKIN (+30%, $14M market cap, SOL)
- $WOLF (+19%, $28M market cap, ETH)
- $VISTA (+23%, $14M market cap, ETH)
- $PHIL (+11%, $21M market cap, ETH)
📈 NFT Floor Price Increase (ETH)
- Project Aeon (53%, 0.14 ETH Floor)
- CEDEN Keystone (47%, 0.11 ETH)
- Station3 (45%, 0.87 ETH)
- QQL (29%, 2.19 ETH)
- Surgartown Oras (26%, 0.14 ETH)
🗓 Upcoming Mints and Events
Today is another slower day of mints to cap off a slow week overall.
It looks to be a quiet weekend, which means anything that is able to gather attention has a chance to do well through the weekend.
See the full list and dive in for more details with Swizzy's daily mint monitor.
- Intrepid x SuperRare (10:00 a.m. ET)
- Memes by 6529 (11:00 a.m. ET)
- Ed Fornieles x Verse (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.
TylerD's Market Summary
🚨 Ape Cryptopunk Worth $1.5M 'Stolen' for 10 ETH
Six days ago, an Ape Cryptopunk sold for 620 ETH or $1.48M.
They're some of the most valuable and elite Cryptopunks in the collection.
Well yesterday afternoon, one sold for 10 ETH in what's being called the "greatest Cryptopunk heist of all time."
What happened
Ape Cryptopunk 2386 was purchased for 10 ETH ($23,000) yesterday due to a loophole in a now-defunct fractionalization site.
That's 98.5% below fair market value and thus being called a "heist".
For background, the punk was fractionalized years ago on a site called niftex which is no longer functional. There were 10,000 shares of the punk distributed across several holders.
The punk remained fractionalized on the site and in the escrow contract even after the site became dysfunctional.
Fast forward to 2 weeks ago, and someone figured out a loophole in the contract allowing a buyout with a 14 day grace period for holders to accept or reject. If they didn't reject it by bidding a slightly higher amount for the punk, the buyout would go through.
The heister submitted a 0.001 ETH bid per share (10 ETH in total), and yesterday it went through.
Meaning they had purchased the punk "fair and square" for 10 ETH, which has already caught a 600 ETH bid on secondary.
The steal of the year, and perhaps the century.
But it gets worse.
The Failed Block Attempt
Notable Ape Punk owner, founder and collector gmoney tried to block the buyout from happening.
He was alerted to the situation late Tuesday, as an 8% holder of the shares.
Then he tried to block the buyout by bidding 0.000001 ETH per share - unfortunately not enough.
The bid had to be higher, at 0.0010000001 ETH minimum for a successful block.
No one realized this, including gmoney, and the block failed.
And the heister ended up getting the punk for 10 ETH, now worth at least 600 ETH (a $1.38M gain in mere hours).
Why It Matters
There's an ongoing debate on whether this was an ethical action.
Those in the "code is law" camp are of the mindset that the heister did nothing wrong - they acted cleverly within the rules of the smart contracts to make a purchase, and it's the fault of the owners for not acting. This is how decentralization works.
Many are on the other side, in that holders didn't have a "fair" shot to block the buyout, and that problems like this will prevent crypto from broader adoption. The buck needs to stop somewhere.
My view - the share owners took on major risk holding shares of a valuable digital asset in a defunct fractionalization site.
But the move is clearly unethical and should not be celebrated. It's very unclear that holders 1) knew this was happening and/or 2) knew how to block it. That's a problem.
I don't think broader crypto is at risk because of this, but this does likely put the nail in the fractionalization coffin.
🚚 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 $3.45M on the day; Bitcoin was next with $2.33M, and then Solana with $2.3M
- ETH NFT leaders mostly chopped; Pudgy +2% at 10.77 ETH, BAYC even at 12.1 ETH, Azuki even at 4.72, Milady -3% at 3.4; Doodles -9% to 1.93 ETH
- alignDRAW (+28%) & Ninja Squad (+28%) were notable top movers
- An Ape Cryptopunk sold for just 10 ETH after a "heist" from a rationalization protocol where the buyer bid 0.001 ETH on 10,000 shares, none of the share holders denied the bids and the bidder won the Punk (for 10 ETH)
- BTC NFT leaders were very green; NodeMonkes +9 at 0.135 BTC, Puppets +6% at 0.093 BTC, Quantum Cats +10% at 0.272 and OMB -1% to 0.16
- Nat Cats announced a Blockdrop, a new collection which will drop following similar DMT functionality 1-1 to Nat Cat owners
- The Runes leaders were also green; DOG +2% at $259M mc, RSIC +7% at $62M mc, PUPS -10% to $25M
- Solana NFTs were also mostly green; Mad Lads even at 59.7 SOL, SMB Gen 2 +4% at 25.3, DeGods +3 at 25.6, Claynosaurz +21% to 18.1
- Beeple will host a live Election Night event at Beeple Studios, not requiring an NFT and free to attend for all
💰 Token, Airdrop & Protocol Tracker
Here's a rundown of major token or airdrop news from the day:
- Myriad shared new details about its prediction market in a long-form article on X, sharing its vision of an interconnected media system where users, creators & advertisers are all rewarded
- OSF announced that he will redirect all of this personal royalties into Rekt Brands, citing alignment with community ethos
- Raydium introduced a new "Burn & Earn" feature, allowing teams to build trust by permanently locking concentrated liquidity
- Prometheum went live as the first fully registered crypto special purpose broker dealer, meaning it could theoretically allow trading of securities; they are opening their custody product to institutions and accepting ETH, UNI, ARB, OP and GRT to start, with trading coming soon
🌎 Around Crypto and Web3
A few other Crypto and Web3 headlines that caught my eye:
- Crypto majors are green this morning up 1-3%; BTC +2.5% at $57,940; ETH +1% at $2,345, SOL +3% at $134
- Memecoin majors are slightly green with DOGE +2%, PEPE +2%, WIF even, BONK +2%, MOG +2%; POPCAT +14% to $640M
- SWIFT announced a partnership with major banks to connect the SWIFT network to ETH sepolia as it experiments with digital assets
- Reuters reported that India led the way in global crypto adoption for the 2nd year in a row
- Singapore's usage of stablecoins as payments doubled in Q2 2024 to $1B
- The UK introduced a bill to classify crypto assets and NFTs as personal property, giving them recognition and certain protections
🚀 Memecoin Movers
- $AURA (+77%, $10M market cap, SOL)
- $CATE (+60%, $28M market cap, ETH)
- $SELFIE (+25%, $17M market cap, SOL)
- $mini (+23%, $16M market cap, SOL)
- $KOKO (+19%, $39M market cap, SOL)
📈 NFT Floor Price Increase (ETH)
- CryptoCitizens (61%, 0.34 ETH Floor)
- Ninja Squad (29%, 0.29 ETH)
- alignDRAW (28%, 1.85 ETH)
- InfiniGods (27%, 0.24 ETH)
- HV-MTL (22%, 0.05 ETH)
🗓 Upcoming Mints and Events
Today is another slower day of mints.
The highlight is likely BTC Machine back with Battle Royale, launching at a decent time as Ordinals are showing signs of life.
See the full list and dive in for more details with Swizzy's daily mint monitor.
- sneaky - poonks (9:00 a.m. ET)
- ONMI (10:00 a.m. ET)
- Market Elite (11:00 a.m. ET)
- Jan Robert Leegte - Selection (12:00 p.m. ET)
- BTC Machine - Battle Royale (3:00 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.
TylerD's Market Summary
🇺🇸 Kamala Harris Wins Last Night's Debate, Markets React
All eyes were on the U.S. Presidential Debate last night between Donald Trump and Kamala Harris.
Millions of dollars were on the line, thanks to the proliferation of prediction markets like Polymarket.
And now the results are in - are markets are reacting.
What Happened?
Kamala Harris won the debate against Donald Trump last night according to various sources, including Polymarket's line, early reaction poll results and leading modelers like Nate Silver.
Watching the debate live, Trump got off to a strong start and Kamala a bit of a weak one. But she was able to goad him into veering away from core issues and going into some of his trademark rants, and those rants did not play well.
Those rants, coupled with poor responses to Jan 6 questions and some very negative closing remarks, likely led to the loss for Trump.
Market Reactions
Polymarket's primary election market has already moved, with Kamala notching even with Trump at 49-49. Notably, Trump lost 4 points on the day, going into the debate at 53-46.
Crypto markets did not love the results, with majors sliding 1-3%.
Stock futures are also down, but were already trending that way tied to important CPI data coming out this morning.
Why It Matters
This was a more important debate for Harris than for Trump.
She has spoken much less in public than Trump, and a poor performance last night likely would have had a big impact.
But she didn't perform poorly, and won the debate by most accounts.
Perhaps even more importantly for Kamala - Taylor Swift came out and endorsed her in the aftermath of the debate, in a statement on Instagram.
In an election this close, decided by swing voters in a handful of states, any major endorsements like that do matter.
Overall, Trump likely hasn't lost much ground post-debate, at least with his base.
The question is - did Kamala gain ground with undecideds?
Early reactions seem to point to yes, but we will have to wait for it to play out in the polls.
Whether the results of the election impact crypto prices remains to be seen.
Many feel like the pro-crypto candidate Trump is much better for Bitcoin and broader crypto, and that the crackdown would continue under Kamala.
Until Kamala shows any signs of veering course from the Biden admin's crackdown, it's hard to argue with that side of the case.
But regardless of who wins, the future of crypto is bright and will prevail.
I wouldn't want to be short headed into Q4...
🚚 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 $3.7M on the day; Bitcoin was next with $2.2M, and then Solana with $1.6M
- ETH NFT leaders were mostly green up 1-2; Pudgy -1% at 10.5 ETH, BAYC +1% at 12.1 ETH, Azuki -1% at 4.72, Milady +1% at 3.5; Doodles +3% to 2.12 ETH
- Ceden Keystone Beaver (+57%) & Egg (+38%) were notable top movers
- BTC NFT leaders were mixed; NodeMonkes -4% at 0.124 BTC, Puppets -7% at 0.088 BTC, Quantum Cats +3% at 0.248 and OMB +7% to 0.162
- The Runes leaders were also mixed; DOG -5% at $257M mc, RSIC +1% at $59M mc, PUPS -3% to $27M
- Solana NFTs were slightly red; Mad Lads -1% at 59.7 SOL, SMB Gen 2 even at 24, DeGods -1% at 25, Claynosaurz -1% to 14.9
- BAYC announced the winning design for upcoming ApeCar in collaboration with BMW
- VeeFriends partnered with Wonder, including limited edition stickers in each Bellies meal
- Kraken and Williams Racing are hosting their second "Rear Wing Takeover" contest, allowing Grid Pass NFT holders to submit digital artwork for a chance to have their designs featured on the rear wing of Williams Racing cars during the U.S. Grand Prix in October 2024
💰 Token, Airdrop & Protocol Tracker
Here's a rundown of major token or airdrop news from the day:
- Magic Eden is rolling out new incentives where users earn $ME + a 50% Diamond Bonus simply for buying NFTs or Ordinals with the ME Wallet mobile app
-
Bitgo selected LayerZero as the official interoperability provider for wBTC, a $9B asset now available on BNB and Avax with more chains coming soon
- Fountain announced a $3.5M seed round raise to build a new web3 operation system to better manager crypto assets and automate DeFi workflows
- Catizen shared new airdrop details for its CATI token set to launch on Sept 20, with less than half of the 35.8M players eligible
🌎 Around Crypto and Web3
A few other Crypto and Web3 headlines that caught my eye:
- Crypto majors are red this morning down 1-3%; BTC -1% at $56,600; ETH -1% at $2,320, SOL -3% at $131
- Memecoin majors are more red with DOGE -4%, PEPE -4%, WIF -8%, BONK -5%, MOG +7%
- Trump's crypto project World Liberty Financial was called out in a House DeFi hearing on Tuesday as potential for consumer harm, noting some had already been harmed due to Tiffany and Lara Trump's X accounts being hacked
- Binance partnered with price data provider CoinMarketCap to incorporate token unlocking and vesting information into its platform
- Bonk was announced as a Premium Partner for Bundesliga's Borussia Dortmund soccer team
- PayPal and Venmo added support for ENS when sending crypto in a major announcement for ENS
- Ethereum-based shooter game 'MetalCore' is launching in the Epic Games store this week
🚀 Memecoin Movers
- $CATE (+95,000%, $13M market cap, ETH)
- $MAD (+45%, $13M market cap, SOL)
- $NEIRO (+19%, $19M market cap, ETH)
- $PIXL (+22%, $15M market cap, ETH)
- $WIGL (+16%, $10M market cap, ETH)
📈 NFT Floor Price Increase (ETH)
- CEDEN Keystone (57%, 0.08 ETH Floor)
- Asprey (50%, 3 ETH)
- egg (38%, 0.17 ETH)
- DeepBlack (35%, 0.57 ETH)
- Valhalla (30%, 0.1 ETH)
🗓 Upcoming Mints and Events
Today is a slower day of mints.
Chimpers is back with their Arcadegen drop as the likely highlight.
Other than that, CPI data comes out at 8:30 am ET with potential to impact markets.
See the full list and dive in for more details with Swizzy's daily mint monitor.
- CPI date (8:30 a.m. ET)
- Fractal Puppets (11:00 a.m. ET)
- Bangers (11:00 a.m. ET)
- Chimpers - Arcadegen Card (12:00 p.m. ET)
- Unhooded (2:11 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.
TylerD's Market Summary
💸 Ether.fi Launches New Crypto Credit Card
Spending one's crypto in the real world has gotten easier and easier this year, thanks to a variety of new crypto debit card launches.
But what if you could spend, without selling your crypto?
Enter Ether.fi and its newest product.
What Happened?
On Monday, Ether.fi announced the launch of the Ether.fi Cash Visa card in partnership with Scroll, an Ethereum layer 2 network.
The card allows users to spend fiat currency while using their crypto assets as collateral, letting them earn yield on their crypto holdings while shopping as usual.
It's a big unlock.
Set to ship to pre-order customers on September 16, this card also promises 3% cash-back on all transactions, with no restrictions—a strong offer even compared with traditional credit cards.
The card is compatible with mobile payment systems like Apple Pay, and the partnership with Scroll enables gasless transactions amongst other benefits.
However, don’t get too excited if you’re in the U.S. just yet—Ether.fi Cash won’t be available there due to regulatory challenges.
Instead, it will roll out in several international markets, including the UK, Hong Kong, Brazil, and several European countries.
What Are They Saying?
Sandy Peng, Scroll’s co-founder, emphasized the card’s cost-effectiveness for DeFi users:
“If you put 10 Ethereum into Aave and use this credit card, it’s going to be the cheapest credit card in the world that you can find.”
Mike Silagadze, co-founder of Ether.fi, shared their target audience:
“The first, probably 10 to 20,000 people, are going to be crypto ‘degens,’ like DeFi crazy people... but it’s genuinely a better credit card product, not just a better crypto product.”
Peng also touched on the broader appeal:
"I think it's the first time I've been able to get my friends who are outside of crypto interested in a crypto product."
Why It Matters
Ether.fi Cash’s promise of unrestricted cash-back, combined with crypto collateral, sets it apart.
This is especially important as it removes a key pain point for crypto holders - needing to liquidate crypto holdings to access their value.
The ability to pay one's monthly expenses via crypto, without selling it for fiat, is getting more possible by the month right now.
This is the crypto maxi's dream (or at least one of them), and it is very close to becoming a reality.
🚚 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 $6.4M on the day, boosted by $3M in Punk sales; Bitcoin was next with $2M, and then Solana with $1.6M
- ETH NFT leaders were green with most up 3-5%; Pudgy +4% at 10.8 ETH, BAYC -2% at 11.96 ETH, Azuki -3% at 4.77, Milady +4% at 3.44; Doodles +15% to 2.07 ETH
- RCS (+90%) & Rug Radio Genesis (+59%) were notable top movers
- BTC NFT leaders were mostly green; NodeMonkes +7% at 0.129 BTC, Puppets +12% at 0.095 BTC, Quantum Cats +1% at 0.24 and Bitcoin Shrooms +7% to 1.6
- The Runes leaders were very green; DOG +3% at $271M mc, RSIC +7% at $58M mc, PUPS +15% to $28M
- Solana NFTs were mixed; Mad Lads -2% at 60 SOL, SMB Gen 2 even at 24, DeGods +5% at 26, Claynosaurz -2% to 15
- Two major Punk sales went down, including 300 ETH for a smoking Hoodie and 550 ETH for the Hoodie Zombie (flipped from 475 ETH in just a few days)
- The Dookey Dash release was delayed until Sept 19
💰 Token, Airdrop & Protocol Tracker
Here's a rundown of major token or airdrop news from the day:
- Myriad Markets launched in private beta by the Rug Radio & Decrypt teams, as a new prediction market highlighting creators, content and breaking news with integration into social media sites like X and Youtube; waitlist now open
- Machi's memecoin MACHI went live on Baseline Markets, opening up at a 2x from presale at $10M mc (now at $8.7M)
- In raise news, Drip Labs announced an $8M raise to build its collectibles platform led by NFX and Spencer Ventures' Orange Cap Games announced a $2M raise to build its upcoming trading card game using NFT IP
- Polymarket has opened several lines tied to tonight's Presidential Debate, including which words will be mentioned, favorite to win, favorite to be leading in the polls following, total viewership and much more
🌎 Around Crypto and Web3
A few other Crypto and Web3 headlines that caught my eye:
- Crypto majors are green again this morning; BTC +3% at $57,150; ETH +1% at $2,350, SOL +4% at $135
- Memecoin majors are more green with DOGE +5%, PEPE +5%, WIF +8%, BONK +6%, MOG +2%; NEIRO rallies back to $200M
- The SEC has made $4.68B from the crypto sector in 2024, shedding light on a key driver of the crack down
- Rabby introduced a "GasAccount" feature allowing users to pay gas fees for any address on any network with USDT or USDC
- European banking giant BBVA launched USDC custody and rails for institutional customers
- Ether Fi announced a new credit card which uses crypto as collateral, allowing users to hold their crypto and earn yield while spending fiat
- a16z announced the 21 startups selected to participate in their Crypto Startup Accelerator 2024 Cohort
🚀 Memecoin Movers
- $EKOC (+95,000%, $13M market cap, SOL)
- $BILLY (+35%, $32M market cap, SOL)
- $JESUS (+31%, $13M market cap, ETH)
- $FWOG (+27%, $80M market cap, SOL)
- $NEIRO (+22%, $197M market cap, ETH)
📈 NFT Floor Price Increase (ETH)
- RCS (89%, 0.44 ETH Floor)
- Rug Genesis (59%, 0.09 ETH)
- Plooshies (38%, 0.21 ETH)
- Dooplicator (29%, 0.11 ETH)
- ALTS by Adidas (23%, 0.07 ETH)
🗓 Upcoming Mints and Events
Today is a slower day of mints and events with no major highlights.
Expect most focus on tonight's major U.S. presidential debate and any memes / prediction market action that springs from it.
See the full list and dive in for more details with Swizzy's daily mint monitor.
- Iskra Velitchkova x Avant Arte (9:00 a.m. ET)
- Bangers (11:00 a.m. ET)
- Elementerra (12:00 p.m. ET)
- ElmonX (12:00 p.m. ET)
- Cudis Wellness - Edamame (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.
TylerD's Market Summary
🇺🇸 Kalshi Beats The CFTC, Cleared to Offer Election Markets in U.S.
Prediction markets have been having a break out year, largely on the back of Polymarket's success.
Polymarket alone has seen $750M in volume in just the past 2 months and is well on its way to a $1B quarter.
And the future looks brighter than ever, after a recent court ruling.
What Happened?
On Friday, Kalshi won a federal lawsuit against the CFTC over its plan to offer betting markets on which party will control each house of Congress after the election.
The CFTC previously blocked Kalshi (a U.S.-based and regulated prediction market) from listing election market bets on the ground that they're considered unlawful gaming.
Kalshi then sued, and won, in what is now a massive win for the broader prediction market sector.
A Kalshi spokesperson posted to their website on Friday:
"We did it! U.S. election markets are coming to Kalshi."
But they aren't out of the woods just yet.
The CFTC approved a rule proposal to ban election markets in the U.S. back in May, which has already been approved by the commission and is currently following a review process before becoming official.
Though it is hard to see how this rule would jive with the recent court ruling, it likely would muddy up prediction markets' status in the U.S. at least for a few more months.
Why It Matters
Election markets make up something like 90%+ of prediction market volume in election years.
Polymarket has been able to skirt the rules this cycle by blocking U.S.-based users, but widespread VPN access allows savvy users to bet anyway.
Removing the ban (and need for VPN) would remove a major hurdle for adoption still.
Volumes would likely spike into the final 2 months pre-election.
But if this isn't fully resolved soon, it may not matter for another 4 years anyway...
🚚 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 $3.25M on the day; Bitcoin was next with $1.16M, and then Solana with $1.14M
- ETH NFT leaders mostly chopped over the weekend closing a mixed week; Pudgy +1% at 10.4 ETH, BAYC +3% at 12.15 ETH, Azuki -1% at 4.63, Milady -1% at 3.3; Punks at 29.75 ETH
- Pudgy Puppets (+100%) & alignDRAW (+59%) were notable top movers
- BTC NFT leaders were mixed; NodeMonkes -5% at 0.12 BTC, Puppets +5% at 0.085 BTC, Quantum Cats -1% at 0.237 and Bitcoin Shrooms +25% to 1.49
- The Runes leaders were red; DOG -w% at $254M mc, RSIC -1% at $53M mc, PUPS -1% to $23M
- The Decentralized Rune (from the CyberKongz team) announced it would fulfill its name and go decentralized with no further building from the team (rune down 30% on week to $4.64M mc)
- Solana NFTs were mixed; Mad Lads +1% at 61 SOL, SMB Gen 2 even at 24, DeGods -1% at 24.7, Claynosaurz -1% to 15.4
- A Zombie Hoodie Punk sold for 475 ETH ($1.06M) closing a big week for Punk grails
- Pudgy Penguins gave soulbound tokens to all of their 1,000 day holders
- Doodles music video for "Can't Hold Me Down" went live on Friday and then the live premiere for Dullsville and the Doodleverse happened Saturday night
- A Doodles Cat sold for 26.25 WETH last night ($60,400), with the floor up 5% on the week to 1.79 ETH
💰 Token, Airdrop & Protocol Tracker
Here's a rundown of major token or airdrop news from the day:
- Blast released their September Gold distribution, with top receivers Fantasy Top getting 1.2M, YOLO and Wasabi get 675k/640k
- Fantasy Top hit a new local high in volume at 190 ETH on Friday
- Ethervista launched Vista Apps, incentivizing building beyond just memecoin launching
- FriendTech locked down the app with admin and ownership parameters set to 0x000... to prevent any future changes (appears to be shutting down any building)
🌎 Around Crypto and Web3
A few other Crypto and Web3 headlines that caught my eye:
- Crypto majors are green this morning after a small weekend rally; BTC +1% at $55,235; ETH +1% at $2,315, SOL -1% at $130
- Memecoin majors are also green with DOGE +3%, PEPE +2%, WIF +1%, BONK even, MOG +6%
- Friday's US Jobs report led to a historically volatile day for rate cut futures, 50 bps hits a high at 60% before falling to 20% (now at 25% on Polymarket), briefly leading to a sell off in crypto majors
- Crypto stocks closed their worst week of the year on Friday with majors like Coinbase down 20% and Schwab's crypto-themed EFT down 11%
- Roaring Kitty shared a Toy Story / CHEWY meme, seemingly indicating that he's finished with that meme; $GME pumped 77% afterwards
- A Court ruled against the CFTC in blocking prediction markets in US in a huge boost for Polymarklet and other protocols
- VanEck decided to shut down its ETH Futures ETF, citing factors like lack of performance, liquidity, assets under management, and investor interest in the decision
🚀 Memecoin Movers
- $DOGE (+136%, $11M market cap, ETH)
- $BOBO (+41%, $44M market cap, ETH)
- $BENDOG (+35%, $15M market cap, SOL)
- $PORK (+28%, $63M market cap, ETH)
- $VISTA (+17%, $25M market cap, ETH)
📈 NFT Floor Price Increase (ETH)
- Pudgy Puppets (110%, 0.13 ETH Floor)
- alignDRAW (59%, 1.49 ETH)
- RCS (30%, 0.23 ETH)
- CryptoCitizens (27%, 0.21 ETH)
- Nakamigos (16%, 0.14 ETH)
🗓 Upcoming Mints and Events
Today is a busier day of mints to start the week.
Mintify is launching its Ordinals Keys, Philheal is the meme card artist and then Tender x Verse launch a handful of mints from Dr Formalyst and tuukzs.
Also, Snowfro will be auctioning off 3 Chromie Squigglds with help from AOTM.
See the full list and dive in for more details with Swizzy's daily mint monitor.
- Mintify - Ordinals Keys (9:00 a.m. ET)
- Memes by 6529 (11:00 a.m. ET)
- AOTM x Snowfro - Squiggles auctions (12:00 p.m. ET)
- Base Boys (12:00 p.m. ET)
- Dr Formalyst x Tender x Verse - In Spirits (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.
TylerD's Market Summary
🤯 'American Psycho' Studio Launching Film Fund on Avax
Imagine combining the power of Hollywood with blockchain tech to revolutionize film funding.
This isn’t a sci-fi plot—it’s happening now with some big names from Wall Street and American Psycho.
What Happened?
On Thursday, Pressman Film announced a new investment platform called Republic on the Avalanche blockchain.
Pressman is a notable studio, behind legendary titles like Wall Street and American Psycho, which gives more weight to this headline.
Through their new Republic platform, fans and investors can contribute to film production with as little as $200, buying a stake in the film slate.
So far, they have raised $314,000 of a $1.5M goal.
The new fund will support 6 potential films on the initial slate (3 based on existing IP and 3 originals), and investors will receive payouts only if one or more of those films makes it into production.
Returns look like this:
- If a film makes it to production, investors receive a portion of Pressman's producing and rights fees
- If a film makes it to release and distribution, investors receive a portion of net profits
Given the low odds of these outcomes, Pressman is also offering investors perks like set visits, producer credits and premiere tickets (though at higher investment tiers).
As for the crypto component, it is definitely behind the scenes.
Investments are taken in fiat with blockchain tech mostly involved in the backend, though still pushing forward on transparency.
What Are They Saying?
Enter Sam Pressman, head of Pressman Studios:
“My father, Edward R. Pressman, is widely considered a pioneer in our industry for the innovative methods he brought to financing film production across his five-decade career.
Now, with the entertainment marketplace amid unprecedented change, it's clearly the time for innovative, new ways to fund creativity and film innovation once again.”
Why It Matters
This story highlights how blockchain and crypto can redefine more than just finance—it could change how we create and consume media.
Blockchain enables transparency and opens up investment opportunities that were once reserved for insiders.
Tokenized investing like what Pressman is offering democratizes the film investing process - anyone can participate, and one can see all of the other investing parties as well.
It's also another feather in the cap for Avalanche, who's chain is being used for this.
Now - will it be a good investment?
That's a trickier question.
Pressman's last film "The Crow" (a reboot of the 1994 original) bombed this year at the box office. It had a $50M marketing budget and netted just $4.6M in opening weekend.
So this is not a slam dunk by any means.
But still a really cool new use case for crypto and blockchain.
🚚 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 $4.7M on the day; Solana was next with $2.1M, and then BTC with $1.9M
- ETH NFT leaders were mostly red; Pudgy -2% at 10.5 ETH, BAYC +4% at 11.84 ETH, Azuki even at 4.77, Milady -6% at 3.15
- Anata (+110%), Nakamigos (+20%) & CrypToadz (+20%) were other notable top movers
- An Ape CryptoPunk sold for 620 ETH ($1.5M), the lowest ape sale since Feb 2021 and 2,000 ETH below recent sales
- BTC NFT leaders were red; NodeMonkes -8% at 0.105 BTC, Puppets +1% at 0.079 BTC, Quantum Cats -2% at 0.234
- The Runes leaders were also red; DOG -1% at $250M mc, RSIC -7% at $56M mc, PUPS -10% to $25M
- Solana NFTs were mixed; Mad Lads +2% at 63 SOL, SMB Gen 2 even at 24.2, DeGods -1% at 25.4, Claynosaurz -8% to 16.5
- BAYC announced Season 2 of its collaboration with BAPE, featuring an online exclusive sale for BAYC/MAYC holders opening on Sept 14
💰 Token, Airdrop & Protocol Tracker
Here's a rundown of major token or airdrop news from the day:
- Fantasy Top founder Travis Bickle shared that the project has become sustainable (weekly fees covering rewards and payroll) for the first time
- Wasabi launched new features allowing users to create "take profit" and "stop loss" orders when trading
- Magic Eden announced new distinct web properties for international and US users with "even more features" available to international users on their marketplace
- Machi's upcoming memecoin $MACHI will go live today at 11 am ET, with Baseline Markets distributing 100k Gold to depositors in the first 24 hours
- Telegram game 'Catizen' announced its TGE (token launch) date for Sept 20
🌎 Around Crypto and Web3
A few other Crypto and Web3 headlines that caught my eye:
- Crypto majors are slightly red this morning ahead of a big jobs report; BTC -1% at $56,150; ETH -1% at $2,370, SOL -2% at $130
- Memecoin majors are also slightly red with DOGE even, PEPE -3%, WIF -1%, BONK -5%, MOG -8%
- Drift protocol added a new prediction market bet on whether Iggy Azalea or Eric Wall will win their upcoming celebrity memecoin debate (with her odds at 23%)
- Mercuryo launched a Mastercard-enabled crypto debit card for European holders, allowing holders to convert crypto into fiat at up to 90M merchants
🚀 Memecoin Movers
- $NEIRO (+55%, $95M market cap, ETH)
- $wDOG (+38%, $17M market cap, SOL)
- $Squidgrow (+27%, $14M market cap, ETH)
- $DADDY (+7%, $49M market cap, SOL)
- $TOSHI (+6%, $35M market cap, Base)
📈 NFT Floor Price Increase (ETH)
- Anata (110%, 0.59 ETH Floor)
- CyberV (42%, 0.34 ETH)
- Cryptomneia (40%, 1.4 ETH)
- RumbleKongLeague (29%, 0.18 ETH)
- OSF RLD (26%, 2.84 ETH)
🗓 Upcoming Mints and Events
Today is another slower day of new mints.
The most important thing to watch today is likely the jobs data that gets published this morning. Pending those results, we should have insight into whether the Fed will move towards a 25 or 50 bps cut in rates this month - which should move markets one way or another.
See the full list and dive in for more details with Swizzy's daily mint monitor.
- Jungle Seed (12:00 p.m. ET)
- Memes by 6529 (11:00 a.m. ET)
- Milady in Christ (12:00 p.m. ET)
- Datura x Nubplus - Sunken (2:30 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.
TylerD's Market Summary
📉 ETH ETFs See Low Volume
The institutions are coming.
At least that's what we were told, ahead of the ETF launches for Bitcoin and now ETH.
But while the institutions did indeed come for Bitcoin, it does not seem to be the case for its little brother.
What Happened?
ETH has seen $85M in net outflows so far this week.
It brings the 2-week total to $142M in outflows and the overall total since launch to $562M in net outflows, driven by Grayscale's $2.65B in outflows.
Which means there has been roughly $1.9B in inflows across the 7 ETF providers. That's good, right?
Well, the current problem is the volume is slowing down substantially.
There was no buy volume from the 7 ETF providers yesterday, just $4.9M the day before and 0 the 2 days before that.
ETH ETF buy volume has slowed to a trickle - there is no demand from institutions, for ETH.
Why It Matters
The lack of demand for the ETH ETF is a bad sign for any future crypto ETF to launch in the near future.
Many have cited the political atmosphere as the primary reason we haven't seen a Solana ETF, index, or other.
Yet the hard reality is - there isn't enough demand for a SOL ETF or any other "alt."
If institutional demand for the ETH ETFs doesn't pick up soon, it's hard to see the scenario where any new crypto ETF launches.
Bitcoin ETF demand has fallen off as well, with 6 straight days of net outflows and Blackrock's IBIT notably at 0 volume on 5 of the last 6 business days.
Perhaps it's just end of summer and buyers will be back at their desks soon.
Let's hope, because this current trend is not a good one.
🚚 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 $4.1M on the day; Solana was next with $2.4M, and then BTC with $1.3M
- ETH NFT leaders were green in a welcome reversal; Pudgy +3% at 10.6 ETH, BAYC +1% at 11.44 ETH, Azuki even at 4.77, Milady +1% at 3.35
- Jirasan (+20%) and Checks (+20%) were other notable top movers
- BTC NFT leaders mostly chopped on the day; NodeMonkes even at 0.115 BTC, Puppets even at 0.077 BTC, Quantum Cats even at 0.24
- The Runes leaders were slightly green; DOG +1% at $257M mc, RSIC +5% at $61M mc, PUPS -5% to $28M
- Solana NFTs were green; Mad Lads +4% at 62 SOL, SMB Gen 2 even at 24.2, DeGods even at 26, Claynosaurz +27% to 18
- Claynosaurz dropped a new mindmap showing different focus areas for the project, including what appears to be a Netflix series
- Bored Ape Yacht Club teased the re-release of Dookey Dash with another $1M in prizes, a collab with Bape for a limited edition bear, and also announced a partnership with BMW to create a 1:1 ApeCar with a community artist
- Gordon Goner teased new details behind the "treasure hunt" he's working on along with his core goals of bringing attention back to BAYC, fun, social media take over and minimal casualties
- The FOMO Hour team (including yours truly) gave away a $35,000 Bored Ape on yesterday's show; tune in daily at 10 am ET for your chance at prizes like this
💰 Token, Airdrop & Protocol Tracker
Here's a rundown of major token or airdrop news from the day:
- Predict dot Fun went live on Blast, seeing over $1M in volume in its first day
- Eigen Foundation announced its Season 2 Stakedrop with claims live before Sept 17
- Iggy Azalea announced her MOTHER token has been integrated as a payment option for the Breakaway music festival, with token users earning a 20% discount
- Apechain laid out its new Blueprint as a path forward
🌎 Around Crypto and Web3
A few other Crypto and Web3 headlines that caught my eye:
- Crypto majors are mixed with SOL leading; BTC +1% at $56,700; ETH even at $2,390, SOL +3% at $132
- Memecoin majors are more red with DOGE +2%, PEPE +3%, WIF +8%, BONK +3%, MOG -1%
- The CFTC ordered Uniswap to pay $175,000 for violations tied to illegal trading of digital asset derivatives, specifically levered versions of BTC and ETH indexes
- Ethervista launched "safe token" creation, eliminating scam risks such as mintable functions and taxes
- Trump's WLFI project is reportedly planning to give 70% of its token supply to insiders
- Clusters introduced 1-click address generation with automatic backup and private key export with its new "1 Click Clusters"
🚀 Memecoin Movers
- $NEIRO (+75%, $62M market cap, ETH)
- $PUFFY (+42%, $12M market cap, SOL)
- $GINNAN (+30%, $17M market cap, SOL)
- $APU (+17%, $64M market cap, ETH)
- $BILLY (+15%, $17M market cap, SOL)
📈 NFT Floor Price Increase (ETH)
- Genuine Undead (25%, 0.11 ETH Floor)
- Nouns (22%, 3.15 ETH)
- Jirasan (21%, 0.64 ETH)
- Checks Originals (16%, 0.17 ETH)
- Checks Edition (16%, 0.21 ETH)
🗓 Upcoming Mints and Events
Today is another slower day of new mints.
Ai Weiwei is partnering with Avant Arte today to launch "Everyone is a dragon."
See the full list and dive in for more details with Swizzy's daily mint monitor.
- Kanoi (9:00 a.m. ET)
- Ai Weiwei x Avant Arte - Everyone is a Dragon (9:00 a.m. ET)
- Sleeping Eight (11:00 a.m. ET)
- Tigerbob (12:00 p.m. ET)
- Kitoshi's World (4:00 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.
TylerD's Market Summary
🤯 World Liberty Financial Details Emerge
New details from the highly anticipated Trump family crypto project have emerged.
And you may want to sit down for this one.
What Happened?
Yesterday Coindesk published excerpts from the World Liberty Financial white paper, the project touted by Donald Trump and his sons recently on X.
The protocol looks to be a crypto borrowing and lending service (similar to Dough Finance) and will include a token WLFI.
Built on Ethereum and its DeFi platform Aave, the project will look to include a "credit account system," while other aspects of the white paper describe it more as a crypto brokerage service.
Here are some other core details for the project:
- Built by 4 team members from Dough Finance (recently hacked for $2M)
- Early GitHub shows code directly lifted from Dough Finance
- Barron Trump identified as its "DeFi visionary"
- Eric Trump and Donald Trump Jr. are listed as "Web3 Ambassadors"
- An LLC for the project is registered to Zachary Folkman (Head of Operations) who is the co-creator of Subify (censorship free competitor to Patreaon & OnlyFans)
- Includes a non-transferable governance token $WLFI
- Gabriel Shapiro's law firm MetaleX Pro is receiving 1.3% of $WLFI for their role as legal counsel
So a recently hacked protocol's (Dough Finance) fingerprints are all over this one, with 4 team members and the code base existing in early GitHub.
Barron Trump (18 years old) is the visionary behind it.
And they're launching a token, albeit non-transferable.
I'm sure ETH DeFi maxis are on the edge of their seats for this one.
Why It Matters
Trump is running a hotly contested campaign which is basically a coin flip 2 months out from the election (Polymarket has it at 52-47 Trump right now).
There isn't much room for error.
And the crypto base is almost unanimously voting his way (at least it seems on Crypto Twitter). At least, as of right now.
But running out a haphazard DeFi protocol ahead of the election which 1) is a cheap copy of a protocol that didn't see much success or worse 2) gets hacked and hurts users, is a bad outcome.
Trump does not want to lose the crypto vote in such a tight election where a few thousand votes in a few key states can swing everything.
Yet his team seems to be acting fairly recklessly here.
The best advice for them? Push out any more launch details until mid-November.
We will see if they take it.
🚚 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 $4.5M on the day; Solana was next with $2.1M, and then BTC with $1.4M
- ETH NFT leaders were red on the day following crypto majors; Pudgy -2% at 10.3 ETH, BAYC -5% at 11.3 ETH, Azuki -1% at 4.77, Milady -5% at 3.29
- Winds of Yawanawa (+90%) and San FranTokyo (+46%) were other notable top movers
- BTC NFT leaders were red; NodeMonkes -3% at 0.1116 BTC, Puppets -3% at 0.078 BTC, Quantum Cats even at 0.242
- The Runes leaders were red; DOG -3% at $252M mc, RSIC -8% at $58M mc, PUPS -6% to $29M
- Solana NFTs were slightly red; Mad Lads -2% at 60 SOL, SMB Gen 2 even at 24, DeGods -4% at 26
- The NFT-funded film "Calladita" will be listed on Netflix Spain starting on Sept 11, according to Director Miguel Faus
- Jenkins the Valet announced it is no longer pursuing the Writer's Room or Azurbala, will focus on other opportunities
- Rocktoshi revealed that he was a co-founder of Ordinals along with Casey Rodarmor (no impact to NodeMonkes floor price)
💰 Token, Airdrop & Protocol Tracker
Here's a rundown of major token or airdrop news from the day:
- Blast announced the Mobile Big Bang Bootcamp, offering $250k in funding, 1:1 office hours with Pacman, access to investors and 1M Blast Gold
- Abstract founder Luca Netz shared his thoughts on consumer crypto and what it will take to reach the masses in a recent blog post
- Gondi introduced its new v3, including new features like tranche seniority, renegotiations, Largest Lien Buyout, and more
- Ethena introduced USDe as the first dollar denominated token which can be used as security within its platform, in partnership with Eigenlayer and EtherFi
🌎 Around Crypto and Web3
A few other Crypto and Web3 headlines that caught my eye:
- Crypto majors are very red following a bad day in stocks; BTC -4% at $56,550; ETH -4% at $2,400, SOL -4% at $128; RLB was a notable top mover, up 17% to $180M on the day
- Memecoin majors are more red with DOGE -4%, PEPE -7%, WIF -8%, BONK -8%, MOG -8%
- Bitcoin funding rates have hit January 2023 lows, along with google search trend results for Bitcoin
- The SEC fined crypto investment firm Galois Capital for keeping funds with Fireblocks, a non-qualified custodian
- The FBI has released an alert that North Korea is aggressively targeting the crypto industry, including ETF providers, with social engineering attacks
- Arbitrum introduced Stylus, creating a new interoperable coding environment for any languages that compiled down to WASM
- Avalanche announced a major upgrade to Avalanche9000 unlocking "an expansive world of purpose-built blockchains," making it more economical and easier to customize building on top of Avalanche
- Samsung announced support for Startale and its mission to make web3 more accessible globally, along with participation in Soneium's Spark incubation program
🚀 Memecoin Movers
- $POX (+240%, $22M market cap, SOL)
- $SHIT (+42%, $10M market cap, SOL)
- $VISTA (+39%, $24M market cap, ETH)
- $NEIRO (+20%, $35M market cap, ETH)
- $MAGA (+10%, $42M market cap, ETH)
📈 NFT Floor Price Increase (ETH)
- Winds of Yawanawa (89%, 7.55 ETH Floor)
- Cryptomnesia (50%, 1.5 ETH)
- San FranTokyo Genesis (46%, 0.24 ETH)
- San FranTokyo Visions (44%, 0.07 ETH)
- Creepz (30%, 1.69 ETH)
🗓 Upcoming Mints and Events
Today is a slower day of new mints.
Ruben is the meme card artist and Floor is back for their weekly drop.
Otherwise, expect more focus on macro action and crypto majors to drive beta action, one way or another.
See the full list and dive in for more details with Swizzy's daily mint monitor.
- Memes by 6529 (11:00 a.m. ET)
- Yoshi Sodeoka x SOLOS x Verse (1:00 p.m. ET)
- Floor Icons Series 4 Drop 6 (1:00 p.m. ET)
- CatsPetsZero (1:00 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.
TylerD's Market Summary
📈 Pump Fun Hits Major Milestone As New Competitor Launches
This year's memecoin cycle has made some fresh new winners.
Though arguably no one has won more than memecoin platform Pump dot Fun.
And now, a new player wants to enter the game - but on Ethereum.
What Happened?
Pump dot Fun hit a major milestone over the weekend, crossing $100M in lifetime revenue.
The kicker?
They did it in 6 months.
That incredible run to $100M makes Pump dot Fun one of the most successful crypto apps of all time (Rollbit technically hit $100M faster).
They have found clear product market fit in making the launching of memecoins and trading of them in-app as easy as possible.
And given their success, it should be no surprise that new competitors have entered the scene.
Pump Fun's Newest Competitor - Ethervista
The Ethereum memecoin ecosystem has been strikingly different from Solana this cycle.
Why?
Many fewer options to choose from.
While Pump was launching 10k+ memes per day on Solana, Ethereum saw an order of magnitude less.
That may be about to change.
Ethervista launched over the weekend, with its native coin VISTA soaring to a $25M market cap ($16M at time of writing).
Here's how it works:
- Users must create their own coin's contracts (Ethervista doesn't do this)
- Ethervista does help with the Luanch, providing users with LP tokens from their own DEX (users decide to burn or not)
- The Ethervista DEX has hard-coded buy/sel fees that go to the LP and to the coin creator
Because of the native DEX, many are comparing Ethervista more to Uniswap than Pump Fun.
And the DEX is important, as it uses a portion of its fees to autobuy and burn its native VISTA token, with 2.17% burned forever already.
Market Impact
Ethervista has created its own ecosystem of memecoins on ETH, now findable via the multi-colored Ethereum symbol on Dex.
The ecosystem was booming into Monday, but has since pulled back a bit.
- VISTA is the clear leader, running to $25M+ on Monday before pulling back overnight (now at $16M)
- BONZI was one of the first meme runners, up 33% to $1.2M mc on the day
- VISTADOG was the first dog-meme and is holding at $900k
Overall only 1 meme (BONZI) is over $1M mc this morning.
It's going to need to see more winners than that to draw more interest, but it's still very early.
Interestingly, ETH meme leaders like PEPE and MOG are underperforming their Solana competitors on the day. This will be another interesting trend to track in the Ethervista era.
Will Ethervista be able to go on a Pump-esque run? How will it impact the broader ETH meme ecosystem?
Time will tell. Stay tuned...
🚚 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 $3.M on the day; Solana was next with $2.3M, and then BTC with $1.7M
- ETH NFT leaders were slightly red on the day; Pudgy -1% at 10.6 ETH, BAYC -1% at 11.9 ETH, Azuki -1% at 4.8, Milady -3% at 3.45
- Punks down 10% from local highs at 27.5 ETH after whale holder liquidates 20 Punks
- Eggs from the CryptoKitties team were the runner of the weekend, moving over 36x to a 0.36 ETH floor (from a sub 0.01 ETH mint)
- Pebbles (+90%) and Remnants (+22%) were other notable top movers
- BTC NFT leaders were mixed; NodeMonkes even at 0.12 BTC, Puppets +6% at 0.08 BTC, Quantum Cats -1% at 0.242, Pizza Ninjas +3% at 0.144, OMB even at 0.16
- The Runes leaders were mostly green in a welcome rebound; DOG +2% at $272M mc, RSIC -17% at $66M mc, PUPS -3% to $32M
- Solana NFTs mostly chopped; Mad Lads even at 61 SOL, SMB Gen 2 even at 24, DeGods -4% at 27
- Yuga cofounder Garga revealed The Workshop, a team of elite builders inside Yuga with products coming to Apechain soon
💰 Token, Airdrop & Protocol Tracker
Here's a rundown of major token or airdrop news from the day:
- Pump dot Fun passed $100M in lifetime revenue over the weekend, reaching the milestone in just 6 short months
- A Pump Fun competitor on ETH called Ethervista launched and ran to $21M mc, with multiple of its memes running to 7 figure market caps
- Predict dot Fun opened its Discord ahead of this week's prediction market launch on Blast
- The Arena shared $ARENA tokenomics ahead of the upcoming SocialFi airdrop
- Fantasy Top set new local highs in trading volume over the weekend as the app continues to pick up steam
🌎 Around Crypto and Web3
A few other Crypto and Web3 headlines that caught my eye:
- Crypto majors are slightly green; BTC +1% at $59,030; ETH -1% at $2,510, SOL +2% at $134
- Memecoin majors are more green with DOGE +2%, PEPE +1%, WIF +9%, BONK +3%, MOG -1%
- Ethereum daily revenue reached a 2024 low over the weekend and is now down 90% YTD
- A Bloomberg article cited that crypto owners are more likely to be psychopaths than normal people
- Base monthly active users hit 14M over the weekend, up from just 4M in June 2024
- Donald Trump teased the family's next crypto project World Liberty Financial, with plans to connect users to "decentralized finance's best tools for secure, high-yield crypto investments"
🚀 Memecoin Movers
- $POX (+47%, $22M market cap, SOL)
- $WOLF (+40%, $18M market cap, SOL
- $RYU (+34%, $20M market cap, ETH)
- $r/snoofi (+34%, $18M market cap, SOL)
- $GINNAN (+30%, $16M market cap, SOL)
📈 NFT Floor Price Increase (ETH)
- EGG (85%, 0.36 ETH Floor)
- Pebbles (84%, 1.75 ETH)
- Pudgy Puppets (45%, 0.04 ETH)
- Remnants (22%, 6.66 ETH)
- Early Retired Cats Club (21%, 0.11 ETH)
🗓 Upcoming Mints and Events
Today is a slower day of new mints, mostly focused on Bitcoin.
The highlight is definitely the launch of Predict Dot Fun today on Blast. The new prediction market offers native yield and 900k in Blast Gold as incentives in its first month.
See the full list and dive in for more details with Swizzy's daily mint monitor.
- BIT L'ORDS (9:00 a.m. ET)
- kerishaBTC (11:00 a.m. ET)
- For the Culture (11:00 a.m. ET)
- Predict dot Fun - launch (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.