Weekly Recap 12/11-12/17 - MVHQ

Weekly Recap 12/11-12/17

MVHQ Staff
Dec 18, 2023
News
Weekly Recap 12/11-12/17

Monday 12/11

 

Last weeks frothiness has seemingly dissipated for the time being as some healthy pullback has been felt across the broader crypto space over the past 24 hours. Still, AVAX found a way to pump another 20% with prices piercing $40, an 80% increase over the past week. Over on ETH, the NFT marketplace showed pockets of activity as a variety of notable projects ended the day in the green. Parallel Avatars (1.09E, +22%), Creepz (3.10E, +11%) and Mocaverse (4.15E, +19%) were the three biggest winners, while BAYC and Pudgy Penguins both eclipsed 2000E in volume.

 

Overall marketplace volume closed at $29.1M, nearly equal to yesterdays number. ETH continues to hold strong above $2200.

 

News:

  • PROOF Collective has airdropped GRAILS V mint passes to full set holders. with the drop set to go live on December 14th at 3PM EST.

  • XCOPY opened a burn event called "Max Pain and Frens," which allows holders to burn one previous NFT + 0.1E for a copy of their new work, Oblivion.

 

MVHQ Spotlight:

 

 

Tuesday 12/12

 

What's a more sure sign of being in a burgeoning bull market? A time rug nice and early in the morning of course! All of Web3's newest SOL maxis were treated to delays and pushing back of mints as Bankmen Finance reminded us of what a dime a dozen subpar team looks like while wasting hours of time. After it's eventual mint out, the most notable headline to make waves was Donald Trump's announcement of a 3rd NFT collection. This time he's opting for 100k NFTs so it looks like The Otherside finally has its competitor!

 

On the NFT front, Matr1x Kuku debuted today with its .4E mint before finding its way to a 2.5E floor and over 2000E in volume! Quite the accomplishment given how scattered attention is in the market. Major marketplaces across ETH traded $27 million today while BTC Ordinals and BRC tokens traded nearly the same amount, showing the strength of both ecosystems. ETH closed the day just under $2200 as most crypto sagged today.

 

News:

  • Coinbase announced Project Diamond, a platform backed by smart contracts for institutions to buy and sell digital assets.

  • Sound.xyz announced today they have acquired mobile platform Soho, to help build out their infrastructure of consumer social products.

  • Donald Trump returned to Web3 by announcing the third series of his Trump NFTs, this time featuring mugshot images with a collection boasting 100k new mints.

  • The US Department of Justice today charged two individuals who allegedly stole over $25 million from people through different NFT and crypto-based projects, scams, and rug pulls.

 

MVHQ Spotlight:

  • With airdrops being all the rage recently, MVHQ member Zoro gives all the details needed to get started farming the Scroll Network! You can find Zoro's step by step guide in the MVHQ Fiedl Reports channel today!

 

 

Wednesday 12/13

 

A solid bounce across the crypto landscape saw majority of notable tokens seeing green. ETH and BTC both saw 5% moves to the upside while SOL finished the day back above $71, a 10% gain on the 24hr chart. Over on the ETH NFT marketplace, Pudgy Penguins reclaimed an 11E floor with an 11% gain on the day and yesterdays mint Matr1x Kuku surged another 15% with floors approaching 3E. Overall marketplace volume closed at $22.3M, a slight dip from yesterdays number, with ETH still cruising above $2250.

 

News:

  • FIFA introduces a collection of digital collectibles on Polygon which offer a variety of prizes including tickets to the 2026 World Cup final in Saudi Arabia.

  • The Bitcoin Shrooms auction at Sotheby's was a massive success with the three numbered lots selling for $241k, $107,950 and $101,600! The auction represented the first Ordinal sales for the famed auctionhouse.

  • Portal tweets that it will make the "biggest announcement in Web3 gaming history," ahead of its upcoming token generation event. No other details were included.

 

MVHQ Spotlight:

  • Don't miss the next big stimmy and come join the conversation inside MVHQ, where our Focused Discussions and Field Reports channels help our members gameplan and strategize for the next big airdrop opportunity! Grab a token here and come join us!

 

 

Thursday 12/14

 

Degens got a very early start to the day with many staying up through the night in order to mint the hottest new token on Solana, $ZERO. As if experimenting with a new metaprotocol wasn't enough action, the meat of the day was taken over by Ledger who experienced a hack where malicious code was inserted and all of Web3 was thrown into a panic. Thankfully the issue was resolved but not without many people losing their shirts first.

 

Volume took an expected hit today as many users were reticent to transact or even connect to Web3 dApps in light of Ledger's hiccup. Creeps (3.2E, +10%) and Parallel Avatars (1.14E, +28%) saw the most gains on the day, especially as Creepz await their $PORTAL allocation after tha presale set to launch tomorrow. Marketplace volume was down to $19 million after the morning's shenanigans but hopefully with the issue buttoned up, the weekend will see a rebound to previous levels.

 

News:

  • Ledger suffered a hack where a malicious file was added to Ledger Connect Kit, which is widely used in dApps across Web3, causing some users to suffer wallet drains. The issue has since been resolved.

  • Once memed into a oblivion, the Solana phone saw users flock to buy it in order to claim a sizable sum of $BONK, thanks to a Bonkmas initiative put on by the team.

  • Top Shot introduced a new type of pack today in Team Packs with mint sizes kept to a miniscule 500 per moment.

 

MVHQ Spotlight:

  • As the market heats up it can be tough to shake off the rust and know how to get back in the groove. So be sure to tune in to Aslo's latest episode of Numbers Therapy where he breaks down thought process, work flows, and the how-to of it all with pro traders Jake and Seinfeld! Find the episode

 

 

Friday to Sunday 12/15-12/17

 

Yet another devastating exploit haunted the NFT space over the weekend as Flooring Protocol was hacked for nearly $2M in NFT assets, the majority of which were sold directly into bids shortly after the attack. This coming off the recent NFTTrader hack, nothing screams bull market quite like rampant scams and exploits. Stay safe out there, Degens.

 

The surging Solana marketplace, Tensor, flipped BLUR in 24-hour trading volume on Friday with a $14M close, $2M more than its ETH counterpart. Overworld sold out its Incarna drop at a 0.15E mint price and didn't make it out of its Whitelist phase. Floor prices have climbed above 2E on over 2600E in volume. Solana Punks sold out at 0.15 Sol and captured the attention of the marketplace on Saturday morning, yet, in true Ordinals fashion is still being indexed for trading nearly 36 hours after minting out.

 

Overall marketplace volume closed the week at $19.1M with ETH continuing to chill above $2150.

 

News:

  • Oracle Red Bull Racing announces its 2023 Champions Collection which allows holders to "own a piece of racing history." The Formula 1 racing giant will hold the mint on the SUI network in partnership with Bybit.com.

  • MetaGood, the company behind OnChain Monkeys, announces a $5M seed round, as reported by CoinDesk.

  • Yuga Labs unveils the KodaMara Fusion, a new way to evolve your Mara by consuming Creation Season Catalysts. The Mara evolution will include unique trait combinations with changes to appearance and abilities.

  • Flooring Protocol was exploited with nearly $2M in NFTs stolen with a majority of the assets dumped into bids.

  • Sugartown announces a new game event called "All Time Heights, The First Climb," set to release on Monday December 18th.

  • Fiat Pass has distributed over 55k free soulbound digital membership claims to its community. The pass includes access upcoming rewards, collaborations and exclusive benefits for holders.

 

MVHQ Spotlight:

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