Weekly Recap 2/12-2/18 - MVHQ

Weekly Recap 2/12-2/18

MVHQ Staff
Feb 19, 2024
News
Weekly Recap 2/12-2/18

Monday 2/12

 

It's a bird! It's a plane! No, it's Bitcoin cruising past $50k! The crypto space was awash with every shade of green as BTC passed $50k and most major coins followed suit. NFTs saw exciting announcements in the form of an AOI season 2 renewal and Magic Eden's ETH marketplace launch with some of the biggest partners in the space. Looking at you Pudgy Penguins. Speaking of Pudgies (19.7E, -5%), they finally saw a pullback after approaching BAYC-level prices, as the narrative for the day turned over to Berachain and their ecosystem partner NFTs. Namely, The Honeycomb (.42E, +10%) and Beratone (1E, +69%) who saw surges in their floors as speculators mount up for Berachain's launch. Marketplace volume turned up to match coin prices, with volume totaling just under $30 million. ETH closed its own bullish day under $2650.

 

News:

  • The AOI team posted an update on its Velocity Pass program, announcing Season 2 for pass holders with naming of its curated artists to come in the future.

  • Pixelmon announced detailed tokenomics for its $MON token, breaking down allocations for different groups and unlock schedules for different investor levels.

  • Magic Eden shared that their ETH marketplace will go live on February 27th, with some of the biggest partner collections in the space like BAYC, Pudgies, Azuki and more.

 

MVHQ Spotlight:

  • Tired of missing out on the biggest happenings of the week in Web3? Then sign up for the MVHQ Newsletter to get all the best news and info directly to your inbox every Monday!

 

 

Tuesday 2/13

 

CPI came in hotter than expected to start the day, causing all of our favorite coin charts to see a fair share of red. Many tokens saw pullbacks after the euphoric week of up-only. Luckily, many tokens shrugged off the dump by the end of the day. Outside of the Fed trying to tamp down our bullishness, Deadfellaz made their debut on the BTC blockchain and Beratone (1.7E, +91%) had another day of its floor price nearly doubling as no pullbacks can stop the cult of Bera.

 

Marketplaces managed to trade over $30 million in volume on ETH alone despite tokens dumping left and right. Pudgies continue to be the leaders as they consolidate in the 20E range. ETH ended the day around $2630, not far from where it opened.

 

News:

  • Deadfellaz began the mint for their BTC Ordinals project, Bits. Bits are loooking to be a way for gamers to interact with the BTC blockchain in an interesting twist of coding and utility.

  • The sentencing for Binance's now ex-CEO, CZ, has been delayed until April. His original sentencing was set for this month.

 

MVHQ Spotlight:

  • MVHQ is leveling up its investment opportunities with Based VC! The team behind Based VC stopped by MVHQ for an Office Hours where they walked through their platform and spilled some alpha on upcoming launches. You can find the recording in the Video Content channel in MVHQ today!

 

 

Wednesday 2/14

 

Who knew Valentine's day could be so green!? Crypto was blessed with another very green day on the charts as ETF inflows totaled more than $600 million in a single day again, causing some well-warranted euphoria on the timeline. MVHQ also added another tranch of new Missions to the platform so degens had a healthy outlet for all that extra energy. On a day with good vibes only from the charts and the loved ones around us, some projects took the time to release bullish announcements adding more fuel to the fire. Berachain was the real winner there, outlining their official partnership with LayerZero labs, a partnership that is sure to have many speculating on a potential airdrop down the line.

 

Marketplace volume followed the lead of token price action by racking up $34 million in trading thanks in large part to solid days from Pudgy Penguins (20.5E, +5%) and more Honeycomb (.52E, +20%) sweeps to sate the beras. ETH held ground at $2780 as it looks to go higher with little sign of stopping.

 

News:

  • NFTPerp introduced its concentrated liquidity program today with users able to earn yield based off of their predictions of NFT prices in various ways.

  • Pixelmon released details of their community pre-sale round for their soon-to-launch $MON token for holders of various Pixelmon NFTs.

  • LayeroZero announced an official partnership with Berachain, which will connect the upcoming blockchain with over 50 other chains as they look to bulk up reserves for their Proof of Liquidity model.

 

MVHQ Spotlight:

  • It's Wednesday so that means The MVHQ App has brand new Missions ready to be tackled! Head over to The MVHQ App now for your chance at a Blast Penguin allowlist, Hyperlock Early Access NFT and more, available only for a limited time!

 

 

Thursday 2/15

 

It was a Marmful day in the Metaverse as Solana project, Marms, sold out their 5555 cute PFP supply at a 2.25 SOL mint price. Marketplace action has been healthy with floors currently settled in the 4.5 SOL range on nearly 3500 SOL in volume. It was a bit of a blood bath over on ETH as the majority of notable collections saw red on the day. Overall marketplace volume closed at $52M with ETH showing for $34M while SOL and BTC finished in the $9 range. ETH continues to hold steady above $2800.

 

News:

  • Arcade.xyz, a MVHQ Mission Partner, announced their "Clash of Claims," a PVP airdrop which offers $3M in $ARCD to holders of specific NFT collections such as Pudgy Penguins, Bitcoin Puppets, NodeMonkes Sappy Seals and more.

  • Metastreet has launched a new game called ASCEND which also introduces Liquid Credit Tokens, which aims to "democratize access to high-yield credit."

  • Robotos, an OG-ish ETH NFT collection, have ceased operations after 2.5 years.

  • ApeCoin will deploy on the Arbitrum ecosystem with the help of Horizon Labs to launch the upcoming ApeChain.

  • Magic Eden unveils a new "Mint to Earn" mechanic that allows users to "earn Diamonds by supporting your favorite creators on our Ethereum launchpad."

  • Mintify introduces Transaction Relays that allow users to trade and mint NFTs on multiple networks using native ETH and L2 currencies. The team also announces its support for Limit Breaks Payment Processor V2 powered by Resevoir.

  • Doodles announce that their Stoodio is leaving Beta after nearly a year. The team will move forward with it serving as the multichain epicenter for holders.

  • YouTuber KSI has been accused by ZachXBT of pumping and dumping on his followers.

  • Overworld has announced a $10M seed round to help support its game development.

 

MVHQ Spotlight:

  • The time has come to finally peel back the curtain on MVHQ's 2024 membership plans. Be on the lookout next week for some saucy details on what to expect for this years mint.

 

 

Friday to Sunday 2/16-2/18

 

There was a time long ago when dinosaurs roamed the earth (allegedly), volcanos spewed molten lava across the horizon and Yuga Labs was the beacon of hope for all of Web3. Recently, a diluted ecosystem, a roadmap without real direction, and an ever-expanding portfolio of mostly head-scratching acquisitions have led to a squeamish fanbase that has evolved from an exclusive Yacht Club to a wholly diverse Bored Meebits Punk Moon Nest Club.

 

The latter continued on Friday as Yuga Labs acquired PROOF Collective, including Moonbirds and its ecosystem in an all-stock deal that puts another Web 3 pelt on the proverbial Yuga Labs trophy wall. It's been a long time since the days when a single Yuga tweet would pump the entire NFT ecosystem and it's been even longer since the prestige of being an "Ape" actually meant something.

 

In spite of all of this, Yuga is still positioned to be a Champion for Web3, however, in a race where they were once lapping the field...they now find themselves jockeying for position just trying not to fumble the baton one last time.

 

News:

  • Yuga Labs acquires PROOF Collective, which includes Moonbirds and Oddities. The ever-expanding Yuga portfolio will integrate Moonbirds into the Otherside ecosystem and will bring on the PROOF team.

  • Pudgy Penguins briefly flip BAYC in floor price in a move that was acknowledged by Gordon Goner. As of Sunday night, BAYC is back on top with at 21.71E.

  • Mocaverse partners with OKX Wallet, Crypto.com Wallet, and Halo Wallet, giving users expanded access into the Mocaverse ecosystem.

  • BAYC teases an image of a potential upcoming clubhouse related event.

  • VeeFriends partners with menswear, Dog, to launch an exclusive apparel line.

 

MVHQ Spotlight:

  • Join us inside MVHQ every Monday for Wake & Jake! JakeandBake and TopHatCat spark up your Monday with a lifted preview of the week ahead. Tomorrow at 12PM EST, live inside our Voice Chat!