Weekly Recap 5/13-5/19 - MVHQ

Weekly Recap 5/13-5/19

MVHQ Staff
May 20, 2024
News
Weekly Recap 5/13-5/19

Monday 5/13

 

Web3 had a slower start to the week than normal, which is in no way a bad thing. Degens were treated to a quieter Monday as most onchain action seemed to revolve around, you guessed it, Fantasy Top! As the second big week of tournaments is upon us, many found themselves strategizing, forming lineups and scouring the marketplace for underpriced Heroes. Win, lose or draw, Fantasy Top has been a wonderful injection of novel fun back into crypto and I for one am ready for more of that. To that end, Pirate Nation was the other big story today as their entire Apex Chain was knocked offline due to outages in their node provider. You really see the core of a person when they can't play their NFT-pirate game, and folks it's not pretty let me tell you.

 

NFT floor prices were down bad just about every where you looked from Bitcoin to Blast and everyone in between. Despite this ETH saw steadily improving volume continue on from last week, trading $18 million today. Crypto saw a nice Monday pump with BTC rising to $62.5k and ETH to $2930.

 

News:

  • Many Layer3s suffered blockchain outages, such as Proof of Play and Degen Chain, with nodes expected to resync some time tomorrow.

  • Arkham announced a partnership with the Blast blockchain which will give users more insight into onchain transaction for the nascent L2.

  • LayerZero announced that over 100k wallet addresses have been self-submitted as part of their sybil-report system ahead of their TGE.

  • On a day engulfed by more Gamestop madness, Pudgy Penguins announced their toys and figures are now available in Gamestop stores.

 

MVHQ Spotlight:

  • BTC L2's have been all the rage this year and MVHQ member MintMazal has the best new opportunity on the blockchain with Mezo! Take in all the alpha on the MVHQ Blog today to start farming your L2 rewards!

 

 

Tuesday 5/14

 

Fantasy Top's second big tournament officially kicked off with influencers really stepping it up a notch to prove their worth and grind for holders. The timeline saw an immediate influx of content ranging from educational to memes to analysis and more. To the disdain of farmers across Web3, Pirate Nation's Proof of Play Apex chain was still down after suffering an outage yesterday. A solution was expected by today yet seemingly did not arrive.

 

The NFT bleed meanwhile seems far from over. Prices were down on just about any project you picked, regardless of blockchain. Unsurprisingly, Fantasy Top traded the most volume, setting a new ATH of $5 million dollars with no sign of slowing. BTC and ETH quickly shook off yesterday's gains by falling to $61.9k and $2900 each.

 

News:

  • Crypto-Twitter darling, Fantasy Top, kicked off their second main contest today along with pushing a host of updates live to their mobile app and interface.

  • Polymarket announced both a Series A and B raise totaling $70 million led by notable names such as Peter Thiel and Vitalik Buterin himself.

  • BAYC announced that tickets for this year's Apefest in Portugal will go on sale in one week, on May 21.

 

MVHQ Spotlight:

  • Bull or bear, MVHQ Content is firing on all cylinders. So get your daily dose of weekly alpha with new recordings of Wake & Jake and BossDawgs Ordinals Shows! Get caught up on everything you may have missed with the sharpest in the space over on the MVHQ Youtube page today!

 

 

Wednesday 5/15

 

Crypto woke up today on a moon mission as it rocketed upwards all day, leaving bears in shambles. With the immense positive price action came all of crypto twitter collectively calling for new all time highs, as is tradition. It wasn't all sunshine and roses however, as Pacman dropped a tweet delaying the Blast TGE until the end of June. So put that sun hat back on farmers, there's more work to be done!

 

Compared to the bullishness in crypto, NFT volume didn't quite catch the same bid. Volume was still rather low with ETH and BTC both trading right around $15 million each across their major marketplaces. Fantasy Top's volume also took a significant hit as tournaments begin and users play the waiting game. BTC closed its healthy day near $66k with ETH getting over the $3000 mark and SOL cruising to $160.

 

News:

  • Blast announced a delay for their TGE and airdrop to June 26, one month later than their initial date at the end of May along with two additional Blast Gold distributions included as well.

  • Wormhole announced that bridging to Blast is now available through their proprietary bridge protocol.

  • Art Blocks announced Art Blocks Studio, a platform for artists to create, experiment and trade their digital works.

  • Humanity Protocol announced a raise of $30 million at a $1 billion valuation. Their goal is to build a decentralized identification to challenge Worldcoin's own goal.

 

MVHQ Mission Control:

New MVHQ Missions are availble through the App right now! Head over to app.mvhq.io to see check out some our new partners like Anomaly AI and Petoshi to see what amazing Mission rewards are waiting for you!

 

 

Thursday 5/16

 

It's Fantasy Top's world and we're all just living in it, or at least that's what Twitter would have you believe if you logged on today. Fantasy's first sub-tournament launched today alongside the announcement of two more sub-tournaments for differing rarities coming next week. Things seem to be heating up over in the Thunderdome of influencers. Otherwise the big news came from Capitol Hill as the Senate looked to strike down an Anti-Crypto bill in a rare moment of clarity from the governing body. Oh and of course there was another contract exploit on Solana to the tune of millions of dollars, but that's just a typical day at this point! NFT volume was nothing to write home about with marketplaces trading very similar numbers to yesterday. This was all amid the backdrop of a small slump in major crypto as BTC and ETH fell to close the day around $65.5k and $2940 respectively.

 

News:

  • The US Senate officially voted to kill an SEC Anti-Crypto Policy today, signaling growing support, however, President Biden is still expected to veto this decision.

  • Pump.fun, a memecoin launch platform on Solana, had its contracts exploited today with nearly $2 million in funds lost.

  • Phantom began rolling out its BTC integration to users of their wallet after a successful closed Beta program.

 

MVHQ Mission Control:

  • Fantasy Top has taken Web3 by storm. If you need to get up to speed then stop by the MVHQ Discord where MVHQ member Seth has written a top to bottom guide on getting started and how to succeed in the new world order of crypto influencers! Check it out in the Field Reports channel today!

 

 

Friday to Sunday 5/17-5/19

 

Most crypto majors closed Sunday with the arrow pointing up on the week as BTC spiked 10% back above $67.1K, ETH saw an 8% move up above $3.1K, and Solana smashed a 28% jump back to $177 in what hopes to be strong momentum moving forward. A plethora of notable headlines helped keep many name brands on the timeline. Pudgy Penguins join forces with one of the largest retailers in Australia, Transformers make their way to Web3 and Dolce & Gabbana find themselves in a precarious legal situation.

 

Over the past 24 hours, BLUR has led the marketplace volume leaderboard, bringing in 33% of the market share at $11.45M. OpenSea trails slightly with $10.27M, and Magic Eden is just behind with $8.3M. Let's keep things cooking into the new week!

 

News:

  • Hasbro and Imaginary Ones have teamed up for a Transformers themed collaboration

  • Pudgy Penguins announce that its Plushies are now available at Big W, one of Australia's largest retail outlets.

  • Pacman provides clarification on its GOLD points ratio change

  • Memeland unveiled its $MON Protocol on Stakeland, aiming to build the "Nintendo of Web3."

  • The most recent DeeKay auction of his work "Hands of Time," sold for $252,000 at Christie's.

  • According to CoinDesk, Dolce & Gabbana has been sued by a customer for the delayed delivery of its NFTs, which caused its market value to drop.

  • CryptoPunks unveil the first Punk in Residence collection, "Super Punk World." Artist Nina Chanel displays her most recent work at the Jack Shainman Gallery.

  • Wolf Game officially launched on Blast with claims for Sheep and bWOOL now live.

  • The alleged hacker of Solana meme coin Pump dot Fun has been arrested in London, according to Blockworks

 

MVHQ Mission Control:

  • Catch a double-header of MVHQ shows tomorrow! Wake and Jake lifts up your morning with a fresh look ahead on the week with JakeandBake and TopHatCat at 12PM EST. The BossDawg Bitcoin Show has RossBoss and Wafdawg spitting some hot alpha on the Ordinals ecosystem at 5PM EST! Both inside MVHQ Voice Chat!