Weekly Recap 3/11-3/17 - MVHQ

Weekly Recap 3/11-3/17

MVHQ Staff
Mar 18, 2024
News
Weekly Recap 3/11-3/17

Monday 3/11

 

As is tradition now, Monday brought with it a glorious pump for BTC which firmly cemented new ATHs regardless of which exchange you may be partial to. Memeland also made waves by launching V0 of their staking platform, so aptly named Stakeland. Their promise of early token allocations and other benefits certainly introduces an interesting wrinkle to the NFT ecosystem. The other narrative leader of the day rested with "choosing rich every time" and yes I'm talking about $NICK who somehow found an even bigger foothold in the market after receiving replies from the likes of Dave Portnoy and Elon Musk among others for his satirical antics.

 

Most NFTs bled across the board as crypto pumped, with perhaps the most notable being BAYC seeing a slide of over 10% to the downside as the floor rests just above 15E. Things aren't looking so hot over in ape-land. Despite the falling floors, ETH marketplaces were able to transact over $33 million in volume, more than BTC and SOL marketplaces combined. BTC, ETH, and SOL closed the day around $72k, $4100, and $149 respectively.

 

News:

  • Memeland launched their Staking/ SocialFi hybrid product, Stakeland, where users can initially stake $MEME to earn $STEAK which will later be burnable for access to investment round in tokens and other Web3 projects.

  • BTC reached a definitive new all time high today, breaking through it's $69-69.4k barrier and rocketing all the way above $72k during portions of the day.

  • VeeFriends announced a partnership with Moonbug today with the goal of launching a media franchise by summer 2024 on Youtube.

 

MVHQ Spotlight:

  • It's Monday so you know what the means...a brand new episode of Wake and Jake is available for your listening pleasure! THC and Jake dive into the week ahead by discussing the macro environment, what mints they're looking at for and more. Find the recording in the Video Content of the MVHQ Discord today!

 

 

Tuesday 3/12

 

Airdrop announcement season rolled right along with two more of the big fish announcing upcoming tokens from Tensor and Polyedra. It's starting to feel like Christmas in July with all these stimmies lining up. NFTs saw more action resembling a race to the bottom with Pudgy Penguins (13E) and BAYC (14.5E) wrestling for top spot as the other faltered with BAYC ultimately ending the day atop the pile yet with its floor firmly beneath 15E. The flippening will have to wait for another day. The big 3 chains combined for a total of $80 million of volume in NFT sales today, with ETH dominating the market's attention, with $40 million of that. Crypto prices remained relatively flat with yesterday's by day's end as BTC sat at $72k and ETH at $4k.

 

News:

  • The Tensor Foundation tweeted that $TNSR, the governance token for Tensor protocols, will be going live in the near future, to the joy of SOL farmers everywhere.

  • Polyhedra also announced their upcoming airdrop of the $ZK token to their early ecosystem supporters in a variety of ways.

  • NFTStats, prolofici on-chain analyst and formerly of the Proof Collective team, announced his formal hiring by the Memeland team.

  • While many anticipated a day of releases on Blast, Pacman put a damper on it all by delaying the release of the points multiplier until April 1st, as well as other highly sought after features.

  • The "choose rich" narrative continued its invasion of the timeline after appearing on Dave Portnoy's Davey Day Trader morning show. The memes and memecoins kept on running as Nick shows little signs of stopping his press tour.

 

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!

 

 

Wednesday 3/13

 

The season of airdrops and memecoins raged on as Aevo launched their $AEVO token and Magic Eden's Diamond claim for OG ETH users also went live. The Ethereum network underwent its own upgrade this morning with the Dencun Update, which temporarily threw some L2s for a loop like Blast whose chain stopped producing blocks for several hours after the fact. With the onslaught of new memecoins and their derivatives, $PORTNOY being today's meme darling, NFTs saw depressed levels of trading with most floors taking yet another beating. Blockgames Dice however were able to shrug off the apathy to see a 20% jump in their floors to nearly .9E. In spite of the abysmal floor prices, ETH NFTs saw incredibly strong volume to the tune of $50 million across major marketplaces. And some people still don't think we're in a bull market. Major crypto markets remained relatively unchanged from yesterday with ETH closing at $3970.

 

News:

  • Trading platform Aevo opened claims for the $AEVO token based on user's metrics like volume traded and staked among other actions.

  • Likewise, Magic Eden opened claims for their Diamond currency based on user's past ETH-based transactions on a variety of wallets.

  • The Ethereum blockchain completed its planned Dencun upgrade today aimed at reducing gas fees on many popular L2's.

  • The now-famous DogWifHat meme, better known as $WIF, will appear on the Las Vegas Sphere after the community completed its fundraising efforts of nearly $700k in order to project the image for a week on the desert monument.

 

MVHQ Spotlight:

  • It's Wednesday, which means there are new Missions available on The MVHQ App! Head over to the App now to complete Missions with Pixelmon, NFT Perp, and many more amazing new partners before they're gone!

 

 

Thursday 3/14

 

The day began with everyone's new favorite pre-sale, DOP, finally outlining their tokenomics. Degens were saddened to hear a whopping token supply of 38 billion upon TGE, which could be just the wakeup call that slows down the current meta.Ordinals NFTs took the spotlight today with Sotheby's Quantum Cat auction closing over $100k and Leonidas' Runestone airdrop commencing. ETH NFTs still took the cake in terms of volume, trading nearly $40 million again, headlined by Parallel Avatars (1.3E) after an insane 44% price appreciation. BTC and ETH took a hit in the evening closing at $68k and $3700 respectively.

 

News:

  • Sotheby's auction of a Quantum Cat with a guaranteed mint for Taproot Wizards concluded today with a winning bid of 1.8 BTC or $127,000. That's one pricey wizard jpeg!

  • The SEI blockchain's top NFT marketplace, Pallet, announced a $2.5 million raise to supplement their efforts in expanding.

  • Leonidas' long-awaited Runestone mint finally begain it's multi-day airdrop to holders of Ordinals in Year 1.

  • Holders of Yuga Labs' Ordinal collection TwelveFold may now claim a physical print of their work.

 

MVHQ Spotlight:

  • With Blast mainnet live the learning curve to understand their intense new points system can be pretty steep. Thankfully MVHQ's own Tpan does the heavy lifting by breaking down all the layers of Pacman's latest ponzi and how you can approach it with an informed perspective. Find it on the MVHQ Blog and Tpan's Substack today!

 

 

Friday to Sunday 3/15-3/17

 

Runestones run the show as the upstart project reeled in over 500 BTC in volume and floors currently at 0.04 BTC. Ordinals remain piping hot with NodeMonkes and Runestones now with the #3 and #4 largest NFT market caps. $BOME re-ignites memecoins with otherworldly volume, surpassing $1B in market cap in less than 48 hours, leaving many degens to wonder where the new found liquidity will pivot to next. Over on ETH, It wasn't all sunshine and roses as the Remilia/Miladys team was compromised and left with a drained treasury of funds and assets and Starbucks announced the sunset of its Odyssey rewards program. NFT floors also remain down as Pudgy Penguins saw floors sag briefly back under 10E with BAYC just above the 13E range.

 

Solana saw a nice break above $200, with other major tokens continuing to grind it out in their current local ranges. BTC saw the most volume overall, closing the week at $45M with ETH at $25M and SOL at $13.2.

 

News:

  • Starbucks announces that it will sunset its Odyssey Beta rewards program at the end of the month with its Discord community closing next week.

  • The Miilady/Remilia team was compromised via password manager malware causing a drain of treasury funds and assets.

  • The NFT auction for "Achi," the inspiration to dogwifhat, hits 50E.

 

MVHQ Spotlight:

  • 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!