Weekly Recap 4/29-5/5 - MVHQ

Weekly Recap 4/29-5/5

MVHQ Staff
May 6, 2024
News
Weekly Recap 4/29-5/5

Monday 4/29

 

We hope you came into this week hungry because airdrops are back on the menu. A slew of projects announced their token airdrops, with some coming as early as tomorrow in Kamino's case. Eigen Layer, the big kahuna of them all, made waves by dropping a whitepaper and tokenomics along with breaking news the airdrop will go live on May 10th. Finally time to see if all those points have really been worth it. Unless you're in the half of the world that's blocked from claiming the airdrop, in which case, good luck!

 

NFT volume slowed significantly from some of its explosive highs of last week with BTC Ordinals and ETH NFTs retracting to trading about $20 million each on the day with no clear winner. BTC gained a little ground to close at $63.4k as ETH and SOL held steady on the daily.

 

News:

  • The White Whale, Eigen Layer, announced their TGE and token claim will go live next week, on May 10th, however, many users were upset due to perceived poor tokenomics and allocations for investors over community.

  • Kamino, a popular lending protocol on Solana, announced their TGE and subsequent staking will both go live tomorrow for users of the platform to claim and trade.

  • Friend.tech delayed their highly anticipated token airdrop until later this week on Thursday at 10:30 AM PST.

  • Pudgy Penguins announced a new opportunity for NFT holders to license 200 Pudgies that are needed for an upcoming Trading Card Game.

  • Fresh off their acquisition, Moonbirds announced Moonbirds Universe, a retooling of the entire ecosystem including PFP art, licensing and more.

  • CyberKongz revealed midday they had begun the airdrop process for their BTC Runes project, Decentralized. Due to the nature of the airdrop, it is expected to take several hours at minimum.

 

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 4/30

 

Well if I didn't know any better I'd think this recap were written in a full on bull market! Action came in at a breakneck pace today starting with even more token claims, this time from the likes of Renzo and Kamino, who debuted to rather lackluster showings. All of crypto took a collective dump today as BTC broke below $60k, giving no chance of success for these airdropped coins. CZ had his big day in court where the 4 meme became sentient to coincide with his sentencing. Blast had the last laugh of the day by launching Blur on the native-yield blockchain. This caused an explosion of volume on NFT trading as farmers swooped in quickly to reap the Gold up for grabs.

 

Overall NFT marketplace volume was on the lower side today with ETH and Ordinals both racking up around $20 million a piece. Notably, Blast joined the forray with OSF's PAC REKT doing nearly 2500 ETH in volume singlehandedly. BTC ended the day just above $60k with ETH hovering around $3k.

 

News:

  • CZ, the founder of Binance, was sentenced today in Seattle court to 4 months in US prison after his judicial battle with the DOJ.

  • It took its sweet time but Blur has finally arrived on Blast. NFTs saw an instant spike of volume as Blast Gold farmers piled in to reap the rewards being offered.

  • Popular tokens like Renzo and Kamino both opened claims for their tokens with both experiencing similarly negative price action being down only at the time of writing.

  • Coinbase added support for the BTC Lightning Network, allowing for BTC transactions to be lower in fees on platform.

  • After a series of website fumbles, Fantasy.Top announced they will try to go live again tomorrow, with an eye on tournaments beginning next week.

  • Garga announced that he would be speaking at the next Otherside Town Hall, hosted natively in The Otherside on May 2nd.

  • Azuki released the first episode of its anime series on Youtube today titled, The Waiting Man.

 

MVHQ Spotlight:

  • AI is all the rage and IO Net is taking that to the next level with their integration of GPUs to power their AI learning models. To get all the alpha on IO Net and their upcoming token launch, catch up with the MVHQ X Spaces to learn everything you need to about one of the hottest AI projects around!

 

 

Wednesday 5/1

 

May is here and with it comes the turning of the page on what turned out to be somewhat of a cursed Airdrop April that saw most farmers disappointed with the fruits of their labors. We were treated to a quieter day in the news cycle with the most noise coming from Magic Eden's next batch of Diamond rewards claiming and DeGods briding back to Solana. Web3 now waits with bated breath until we find out which chain they'll head to next in a few months time. NFT markets also enjoyed a rather muted day with ETH and Ordinals markets both topping out around $15 million each without any real standout projects. Crypto took another swan dive with BTC closing at $57.4k, ETH at $2930 and SOL at $130 in what was a sobering day for any leverage trader who dared to go long.

 

News:

  • Magic Eden unexpectedly opened claims for their in-house rewards, Diamonds, for users who traded BTC Ordinals on their platform up to now.

  • Rollbit successfully burned over 70 billion $RLB token on Solana to complete their full migration to Ethereum.

  • In a move that's certainly not short-sighted or reactionary whatsoever, Frank Degods announced the official birdge for DeGods and y00ts back to Solana is now open for holders.

  • Fantasy.Top has finally launched on Blast after a series of hiccups with many users flooding in to buy packs and upgrade their favorite influencer cards ahead of the first tournaments.

 

MVHQ Spotlight: