Weekly Recap 2/26-3/3 - MVHQ

Weekly Recap 2/26-3/3

MVHQ Staff
Mar 4, 2024
News
Weekly Recap 2/26-3/3

Monday 2/26

 

Degens and HODLers all found themselves on the same side of the street today, far away from the boulevard of broken dreams as all of Web3 experienced a very green day. God candles and up-only vibes graced the space as BTC, ETH and most other major coins saw truly insane days of positive price action fueled by over half of a billion dollars in BTC ETF inflows. Pixelmon began the presale for their $MON token and Blast announced their mainnet launch date to come later this week. Buckle up folks, because it's about to get a whole lot wilder from here.

 

NFT volume didn't quite get the notice that crypto did as it was more of the same with $33 million traded across major marketplaces. Miladies (3.08E, +32%) caught the pump of the day while Persona (.34E, -15%) continued to trend downward following a long wait until reveal and uncertainty around their future token. ETH closed out the day right around $3200. We always knew you could do it ETH.

 

News:

  • Blast announced the long-awaited date of their mainnet launch, which is set to go live this Thursday, February 29th! Gear up for some fun folks.

  • Pixelmon's presale for its $MON token went live this morning for NFT holders and waitlist participants with results to come later.

  • Parcl, everyone's favorite real estate markets trading platform on Solana, announced their imminent $PARCL token launch in April following the completion of Season 3 of farming.

  • Yuga Labs announced that alongside Magic Eden's ETH marketplace going live, they are sunsetting support for most of their collections on all other marketplaces. Coincidentally, BAYC, MAYC, and Punks will still be tradable on most platforms.

 

MVHQ Spotlight:

  • Tired of missing the top stories in Web3? Then sign up for the MVHQ Weekly Newsletter! The MVHQ Newsletter keeps readers up to date on all the trending topics in crypto, NFTs and more. SO don't miss another headline by signing up today!

 

 

Tuesday 2/27

 

The crypto space took a moment to catch its breath after a breakneck start to the week and an even wilder potential ending. With $PORTAL's claim and Blast's mainnet launch set for just a day or so away we can expect to see some fireworks here soon enough. Magic Eden capitalized on the slower day by relaunching their ETH marketplace alongside their ETH partners like BAYC, Azuki and other major projects. Volume was consistent with yesterday's near $33 million on major ETH marketplaces. Miladies (3.45E, +13%) had another day of double digit growth percentage-wise while also leading the charge in volume traded amongst collections. Meanwhile, ETH held steady around $3265 through most of the day and closing.

 

News:

  • Magic Eden officially reopened their ETH marketplace featuring some of the top projects like BAYC, DeGods and Pudgy Penguins with some projects receiving a 50% diamond accrual bonus for trading exclusively on Magic Eden.

  • Arbitrum introduced a new initiative beginning March 1st called the Arbitrum Arcade where users will have the chance to play games natively on ARB for a chance at over $200k in prizes.

  • The ApeCoin DAO is proposing and AIP to launch a partnership that will sponsor an unknown F1 racing team if successfully passed.

 

MVHQ Spotlight:

  • The BTC Ordinal market has been on fire the last few weeks! If you're looking for the ultimate weekly rundown on what's hot then tune into MVHQ's latest offering, The BossDawgs Show! Every Tuesday, Rossboss and Wafdawg walk listeners through the biggest updates, best projects, and latest alpha on all things ordinals! You can find their show hosted inside the MVHQ Discord along with the recordings shortly to follow.

 

 

Wednesday 2/28

 

Holy god candles Batman! Crypto boomed again, and boy did it boom. BTC ETFs saw a record day of inflows with over $7 billion in trading volume making it the largest day of trading yet. Outside of a little legal trouble for the Winklevoss twins over at Gemini, most of Web3 spent the day watching charts and basking in the euphoria. Almost every major NFT collection's floor price was down on the day with all attention diverted towards greener candles and preparing for the launch of Blast mainnet tomorrow. ETH marketplace volume came in at a slightly depressed figure of $30 million today as ETH held just under $3500 after another bullish day.

 

News:

  • Parallel is joining in the fun tomorrow by launching their public Open Beta titled Season 1: Toxic Reckoning with an exclusive new card and rewards for certain participants.

  • Animoca Brands announced yet another investment, but this time into Co-Museum who hope to restandardize the conventions and collection of modern art.

  • Gemini reached a settlement with the New York State Department of Financial Services that will see the company pay a $37 million fine as well as having to return over $1 billion to users of the platform's Gemini Earn Program.

 

MVHQ Spotlight:

  • Everyone and their brother is looking for a leg up with Blast mainnet launching tomorrow. Luckily for us, MVHQ member Botwin has the perfect field report on just that! Botwin breaks down the steps to farming Blast Disperse while climbing the leaderboard as quickly as possible. Find it in the FIeld Reports channel of MVHQ today!

 

 

Thursday 2/29

 

While many thought they would have the better part of the day to prepare, they were sorely mistaken as Thursday started off with a bang as degens found a backdoor bridge to Blast mainnet to kick off the festivities ahead of time. As hundreds of ETH was mindlessly bridged into a black hole, memecoins were aped, holders were rugged, and it truly felt like a new chain had just launched. The time came for Blast's official announcement where the doors were opened and the mainnet madness began for all. $PORTAL holders were the other big winners on the day with the token stabilizing around $2.4.

 

Marketplace volume on ETH continued its downward slide to $28 million today, and was finally passed up by trading on BTC marketplaces which reached $30 million. Ordinals are hot in the streets! The lower volume was certainly attributed to many having their focus on Blast's launch. ETH tumbled just a bit to end the day near $3380.

 

News:

  • Following the morning's backdoor shenanigans, Blast officially launched their mainnet with many users experiencing high gas fees to bridge their staked ETH to the official chain.

  • Claiming for $PORTAL went live in the wee hours of the morning as the team immediately began hyping up its next steps of staking, nodes, and future activations.

  • Creepz teased an announcement set to come on March 1st that many speculate relates to the just-launched $PORTAL coin.

  • Coinbase released details on upcoming wallet improvements they will implement in hopes to onboard more users to the space more seamlessly.

 

MVHQ Spotlighht:

  • The MVHQ App is home to all the best Missions in Web3 including our latest Mission with Magic Eden! Head over to the app now to mint your commemorative Magic Eden NFTs today!

 

 

Friday to Sunday 3/1-3/3

 

There was some early spring cleaning going on in the world of Ordinals as a massive $3.35M NodeMonke sweep helped induce marketplace FOMO on nearly $20M in project volume! The trickle down was felt across most Ordinals projects as Puppets hit a 0.26 floor and Natcats now at 0.11. Ordinals brought in over $56M in total marketplace volume to close the week, nearly $20M more than ETH.

Over on the upstart BLAST, Blastopians minted out and saw floors run as high as 0.35E, while Blast Runners saw similar initial momentum but has seen a massive dump due to major contractual issues. The majority of top coins saw a cozy green weekend with BTC eclipsing $65K and ETH touching $3.5K.

 

News:

  • Robinhood Wallet integrates Arbitrum swap ability for its users after both announced their partnership at ETHDenver.

  • Memeland teases a Stakeland v0 launch for next week.

  • Axie Infinity announces a Guild Update aimed at improving player engagement with new "virtual families."

  • Pudgy Penguins is granting IP licenses for its new series, "The Original 8,888." Holders must submit their entries via the OverPass licensing marketplace.

 

MVHQ Spotlight:

  • Start farming now! Blast Mainnet has launched, and with it comes $2.5 billion in assets bridged by over 200,000 degens. Join MVHQ to get in on the action and take flight with all new missions on the MVHQ app!

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