Weekly Recap 11/20-11/26 - MVHQ

Weekly Recap 11/20-11/26

MVHQ Staff
Nov 27, 2023
News
Weekly Recap 11/20-11/26

Monday 11/20

 

We started off the week with a major product update from BLUR as Season 2 farmers are now able to claim their token rewards while also familiarizing themselves with Pacman's latest venture, BLAST, a new native yield ETH L2. Users are able to bridge ETH over to the new platform and earn 4% yield and ETH and 5% on Stablecoins, a revolutionary take on L2 utility. The $BLUR token also saw a nice 8% pop on the day and is up over 90% over the past 30 days. Recent mint, Sofa Maker, also began its reveal with floors holding up in the .12E range on 8-E volume while, unrevealed are still staying firm at .17E for a tier 1.

 

The NFT marketplace was a mixed bag with so many distractions going on during the day, but YogaPetz saw a massive 60% floor gain up to 0.35E on nearly 140E in volume. Overall marketplace volume closed at a relatively healthy $12.6M with ETH maintaining just above the $2k mark.

 

News:

  • BLUR Season 2 token claims are now open and Season 3 has officially begun as the team introduces BLAST, a new Ethereum L2. BLAST will offer native 4% native yield for staked ETH and 5% for Stablecoins. Early access is available now with an invite code with Mainnet launch scheduled for February 24th.

  • RTFKT x Nike Forging for the well-received Dunk Ghost and Void shoes concluded today after two pre-sale windows. Nike also promoted the drop on its official X account with a short video!

  • Phantom wallet unveils a new Cross-Chain Swapper allowing for a more efficient flow between ETH and SOL.

  • Illuvium will appear on the Epic Games Store on November 28th

 

MVHQ Spotlight:

 

 

Tuesday 11/21

 

It was a day that will surely be written about in the textbooks of crypto-history for generations to come. CZ, Binance's now infamous ex-CEO, plead guilty and subsequently stepped down from his position due to charges from the SEC surrounding the cryptocurrency exchange's operation. The SEC didn't stop there, however, as they levied more accusations against one of the US' most utilized exchanges, Kraken. This onslaught of negative news did no favors for crytpo with some tokens seeing drawdowns of 10% or more.

 

As would be expected, NFTs took a backseat to the drama in crypto today with most stagnating or seeing a retracement in their floors. Yogapetz (.47E, +21%) and The Grapes (2.4E, +13%) however were two of the few to buck the trendand see growth, no doubt due to their upcoming token drops to holders. Major NFT marketplaces saw just over $12 million traded as farmers kept the ball rolling chasing those Season 3 Blur rewards.

 

News:

  • Binance CEO CZ reportedly stepped down from his role today amidst the news that he would plead guilty to charges from the SEC and pay a fine in the range of $4 billion.

  • The SEC continued its field day by accusing another popular crypto exchange, Kraken, for improperly mixing customer funds and operating an unregistered platform.

  • Privy announced an $18 million round of fundraising led by Paradigm to build out their crypto apps and onboarding experiences.

 

MVHQ Spotlight:

  • Have you seen the buzz around developers building for Bitmaps but have no idea where to start? Then stop by the MVHQ Field Reports channel to find Mond's breakdown of Bitmaps and all the games and experiences coming their way!

 

 

Friday to Sunday 11/24-11/26

 

The Holiday season is officially upon us as those of us stateside emerge from a three day food coma. Weekend headlines were relatively slow while marketplace action ramped up and is seemingly primed for a nice holiday shopping spree. Raw Pass (0.3E, +170%) and YogaPetz (0.68E, +160%) were two of last weeks big winners while The Grapes (3.13E, +69%) and Matrix 2061 (3E, +52%) also held firm with strong floor action. Jack Butchers Trademarks collection also saw floors rise above 0.3E after drawing casual comparisons to Squiggles.

 

Overall NFT marketplace volume saw a 3-day average of $27.5M, a substantial uptick even for recent busy times. ETH continues to hold firm above the $2000 mark.

 

News:

  • Cool Cats unveiled its Macys Thanksgiving Day Parade float in a historic moment for Web3.

  • Pudgy Penguins clip-on plushies can now be found at Hot Topic stores

  • Moonbirds is preparing to launch its new rewards system called Talons, with user balances going live on PROOF profiles on November 28th.

  • LooksRare unveils Infiltration, a new game that allows players to win rewards while also burning $LOOKS in the process. The team states that $LOOKS will now be deflationary from this point forward via a variety of upcoming mechanisms.

  • $LOOKS holders that are using the Compounder to earn $WETH rewards must be sure to migrate their $LOOKS to a the new contract, as the 24-month emissions schedule is coming to a close.

  • Pacman issues a statement clarifying some of the misunderstandings regarding Blast, while Dan Robinson from Paradigm released a statement of his own that was critical of the teams go to market strategy.

 

MVHQ Spotlight:

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