Weekly Recap 3/18-3/24 - MVHQ

Weekly Recap 3/18-3/24

MVHQ Staff
Mar 25, 2024
News
Weekly Recap 3/18-3/24

Monday 3/18

 

Airdrop season is well and truly upon us, with this week looking to be a particularly juicy one. Ether.fi kicked it off with a bang via their distribution of 60 million tokens to participants of their restaking program. As Polyhedra and Wormhole also gear up for releases this week you better hold onto your hats, folks, it's only getting wilder from here. Action was a bit more tame today otherwise as the pre-sale meta began to noticably slow given the dwindling price action and flat out incompetence of some teams. Looking right at you for that one $SLERF.

 

On the trading floor, BTC maxis were caught singing "My Ordinals bring all the boys to the yard, cause my blockchain is better than yours!". Or at least that's what the market is telling us based on today's volume, with BTC marketplaces trading $34 million, nearly double what ETH NFT markets were able to conjure up. Crypto prices slumped throughout the day with BTC, ETH, and SOL closing at $66k, $3400, and $188 respectively.

 

News:

  • Ether.fi, one of the most popular liquid restaking protocols on ETH, began its airdrop today of over 60 million tokens, with the coin trading at an impressive $3.50.

  • Forbes announced their Legacy Pass NFT collection which will be soulbound tokens which promises personal and professional development from the popular business brand.

  • Amongst the many pre-sale meta tokens to have launched, $SLERF took the cake today by accidentally burning $10 million worth of their own token meant to go to pre-sale participants. This space never ceases finding the funniest outcomes.

  • After furious bidding, a 1/1 NFT featuring the now-iconic Achi of $WIF fame, was sold for $4.3 million to noted whale, GCR.

 

MVHQ News:

  • Monday mornings mean starting the week off right with the dulcet tones of TopHatCat and the Wake & Jake show! Listen in as THC and Jake discuss their gameplan for the week and what's catching their eye in the middle of the bull run! Recordings can be found within the Video Content channel inside MVHQ.

 

 

Tuesday 3/19

 

The fog of euphoria seems to have lifted as crypto came tumbling back down from the stratosphere in what was a rude awakening for the newest entrants to the crypto-arena. News was slow as most licked their wounds with major coins falling anywhere from 5% to 15%. This downward momentum carried over into NFT volume across the board regardless of chain. Curiously, Miladies (4.25E) saw a near 18% jump in their floor after the cascade of sales following a large hack earlier. ETH and BTC NFT volume were nearly level around $20 million each. On a day like this, I'll take those numbers every time.

 

News:

  • NFTfi announced today the launch of their own NFTfi Foundation which looks to build its own "Settlement Layer" to push the NFT credit market scene forward.

  • Portal announced staking of their recently launched $PORTAL coin will go live this Thursday, with stakers earning access to upcoming game mints and pre-sales.

  • BlackRock, known for being one of the biggest investment behemoths in traditional finance, was found to have seeded an asset fund on the ETH blockchain with $100 million $USDC.

 

MVHQ Spotlight:

  • Metaverse HQ is proud to announce we have completed fundraising our Seed Round of investments! This herculean effort would have been impossible without the contributions and involvement of MVHQ's heart and soul, the MVHQ community. Head over to the MVHQ Blog now to read the press release in full and what it means for the next step of MVHQ!

 

 

Wednesday 3/20

 

After declaring the slightly premature death of crypto yesterday, the markets promptly awoke with a bellowing "SIKE!" today. Most of crypto shrugged off the lows seen in the previous 24 hours and rocketed back up with majors like BTC and ETH having 10% gains. Welcome to the crypto rollercoaster, tradfi! We also saw an "unnamed state authority" attempt to meddle with our precious coins again as they were said to have started an investigation into the Ethereum Foundation. Vitalik did always say there was money in the banana stand, whatever that means.

 

NFTs also seemed to have signaled the bottom was in with yesterday's sell-off. Most of the big ETH collections pumped a solid 5-10% with Pudgy Penguins (12.8E) seeing a massive 25% increase in their floor. ETH marketplace volume reflected this upswing by doubling day over day to $43 million. A reinvigorated BTC, ETH and SOL closed the day at $66k, $3450 and $185 respectively.

 

News:

  • The ETH Foundation is said to be under investigation by an as of yet unnamed state authority as reported by CoinDesk.

  • Investing platform Robinhood released a digital wallet solution for Android mobile users, aptly named Robinhood Wallet.

  • Newcastle United have teamed up with Quidd and Anomica Brands to offer trading card NFTs of their team's players said to unlock exclusive experiences.

  • XCOPY's open edition mint on the Base network titled MUTATIO closed after 24 hours, amassing over 1 million NFTs minted.

 

MVHQ Spotlight:

  • New Missions are live on the MVHQ App! This week we have exciting partners lined up like GridPlus Lattice and the hottest new game in Web3, Riftstorm! Come check out the rewards on offer with the MVHQ App before they're gone!

 

 

Thursday 3/21

 

NIM, everyone's new favorite AI-based gaming token of choice, was the latest project to dole out an announcement of an impending token airdrop, as DYM stakers and gaming NFT holders were lucky enough to make the cut this time. The rest of the day's action came from the usual suspects in memecoins pumping and dumping at an accelerated rate and marketplace wash trading. The metas rise and fall quicker than ever these days with timely rotation being more and more crucial if you don't want to be left holding the bag at the end of the day.

 

Many NFTs saw continued action after bouncing off the lows of a few days ago. In particular, Pudgy Penguins (15.2E) had another big day with 19% gains, even reigniting "The Flippening" as they sprung past BAYC (14E) to be the top dog in the food chain for the time being. Most major crypto stagnated, swinging 1% or so during the day. BTC ended the day at $66k with ETH at $3500 and SOL near $180.

 

News:

  • Espresso, best known for their sequencer solution, announced a Series B raise of a staggering $28 million in their latest round.

  • NIM Network, an L2 Rollapp built on the Dymension blockchain, announced intentions to airdrop their native $NIM token to all stakers of $DYM and several gaming NFT collections including Parallel and Pirate Nation.

  • $PORTAL staking went live for holders today on the Portal platform where they promise access to token pre-sales, NFT mints and drops from yet unreleased games within their ecosystem.

  • The Avalanche Foundation is launching an initiative called Memecoin Rush, where they are incentivizing users to provide liquidity for specific memecoins with $1 million in rewards as incentivization.

 

MVHQ Spotlight:

  • Good news everyone! Metaverse HQ has officially completed its Seed Round of fundraising! To read all of the important details and the underlying vision, visit the MVHQ Blog to get the latest scoop on our biggest announcement yet!

 

 

Friday to Sunday 3/22-3/24

 

GHOOOOZHALI GHOZALI GHOZALI GHOZALIIIIII GANG! The king has returned as Web3's favorite feel good story announces a new memecoin and NFT initiative on Base. The original Ghozali collection lit up the marketplace on the news with floors jumping towards 0.4E before settling back into its current 0.15E range. The Friend.tech streets are also warming back up with its points reveal upcoming and as the action on Base continues to be hot and heavy. Over on BTC, Runestones have a strangehold on the volume leaderboard with more than 30 BTC in transactions over the weekend and a staggering 530 BTC over the past week.

 

BTC held strong for the broader crypto marketplace as it continues to hover around $67K, while ETH flirts with $3500 and SOL marinates just above $180.

 

News:

  • The Man, the Myth, the Legend...Ghozali, returns to unveil Phase 2 of his Everyday ecosystem with the launch of a Memecoin and NFT Hybrid on Base. The presale took in a whopping 773E!

  • Google now supports Ethereum Name Service (ENS) discovery via standard Google search.

  • Pirate Nation teases an snapshot for its holders

  • ApeCoin DAO has passed initiative AIP-406, approving a new "multi-year partnership" with a yet-undisclosed Formula 1 racing team.

  • DeGods teased an unspecified image with an ominous quote with no additional details.

 

MVHQ Spotlight:

  • Welcome to MVHQ Mint Week! Get the party started on Monday with our regularly scheduled episode of Wake and Jake at 12PM EST, the opening of our Member mint at 2PM EST followed by our Mint Party Spaces Event at 3PM EST where we will be giving away prizes, including a 2024 MVHQ Membership!