Weekly Recap 5/20-5/26 - MVHQ

Weekly Recap 5/20-5/26

MVHQ Staff
May 28, 2024
News
Weekly Recap 5/20-5/26

Monday 5/20

 

Just as many on crypto Twitter proclaimed we were on the verge of death, the market roared back with a "We're more back than we've ever been." Crypto skyrocketed as rumors of an ETH ETF approval for the US leaked from credible news sources. What was once thought of as a nailed on denial has seemed to have shifted, with positive sentiment bursting at the seams now. It wasn't all bullish in Web3 however, as CryptoPunks released their latest, should we say "experiment", as a collab with Nina Chanel, Super Punk World. The collab was immediately met with vitriol and verbal lashings for its tarnishing of the Punk brand. When the best choice is doing nothing at all, even Yuga can find a way to mismanage that it seems! Garga then announced on X the collection would be airdropped instead with future Punk plans scrapped.

 

NFTs did not see the same action sadly as they wait to catch a pump of their own. After its electric afternoon, BTC, ETH and SOL ended the day around $71.k, $3650 and $180 respectively. Enjoy the pump, folks. You earned it.

 

News:

  • Ahead of an ETH ETF decision expected this coming Wednesday, news broke that markets now expect a 75% chance of approval, sending markets straight to the stratosphere.

  • CryptoPunks' Punk in Residence program kicked off with artist Nina Chanel's collection which drew the ire of every corner of Web3 until Garga changed plans to appease the community.

  • NFT Perp brought BTC Ordinals to Blast, allowing users to trade the assets on a faster, cheaper L2.

  • Wolf Game's first claim of Blast Sheep has now ended with 20k NFTs minted. Thye now look to move into the next phase of their Cave Game on Blast where players have the chance to earn copious rewards.

  • Following its successful presale, $PEW token opened for trading and claming today at about a 3x relative to where presalers purchased.

  • After their NY trial's conclusion, Genesis is set to return over $3 billion dollars to users and depositors of the platform prior to its collapse.

 

MVHQ Mission Control:

  • 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 5/21

 

All eyes and ears were trained on the likes of Bloomberg and Wall Street hoping for even the slightest crumb of alpha ahead of tomorrow's alleged big day of ETH ETF news. Farcaster wasn't content just letting ETH own the daily news cycle, so they announced a modest raise of $150 million to jumpstart onboarding and developing on the nascent dApp. Yuga also began their initial sale of ApeFest tickets to holders via refundable deposits. NFT volume picked up just a touch along with the bullish vibes with ETH marketplaces leading the way trading $20 million. I guess we can thank the Miladies for leading the charge as the top traded project? Makes about as much sense as everything else recently! BTC ended the day just under $70k and ETH at $3800.

 

News:

  • Farcaster, the decentralized social networking app on Base, announced a $150 million raise today led by Paradigm and other industry heavy hitters.

  • ApeFest tickets went on sale today for Ape and Mutant holders for a refundable deposit of $169. Pack those bags because you're going to Portugal!

  • Tron DAO announced a partnership with Google Cloud as they will be the next Super Representative Candidate for the blockchain.

  • A leaked screenshot today led to reports that zkSync's long-awaited TGE may be coming as soon as this week with distribution set for mid-June.

 

MVHQ Mission Control:

  • Have you ever struggled with collecting an airdrop from a compromised wallet? Well MVHQ member Gladiator has just the solution in his latest Field Report! You can find all his alpha on recovering your hard earned stimmies in the MVHQ Discord today!

 

 

Wednesday 5/22

 

Web3 went about their business with bated breath as they waited on news of the ETH ETF to no avail. We were, however, treated to the unexpected passing of The FIT21 Act in the US House, which may finally give crypto companies the guidance and regulation needed to build. What a novel concept that is. There was a smattering of smaller headlines like Pixelmon's $MON TGE and another Azuki hoodie being released. I guess that's preferable to another copycat of their other NFTs though, so progress is progress. NFT volume still hasn't quite gotten the signal to rip like many of its memecoin compatriots but BTC Runes have enjoyed quite the recovery from their lows with many seeing 100% gains in recent days like MR YEN and SATOSHI NAKAMOTO.

 

News:

  • The US House of Representatives today passed the FIT21 Act, setting the stage for crypto regulation to finally take shape.

  • Pixelmon's MON Protocol announced it will hold its TGE for $MON on Monday, May 27th.

  • Azuki announced a new physical hoodie backed by its PBT technology, which will offer holders a dual-chain NFT on both ETH and BTC.

  • Fantasy Top announced several new tournaments set to go live soon, including their big Main 3 competition and a lengthy 22-day long sub-tournament as well.

 

MVHQ MIssion Control:

New Missions are live on The MVHQ App! New token airdrops, allowlists and more are available for a limited time so go get those rewards before they're gone for good!

 

 

Friday to Sunday 5/24-5/26

 

A very Happy Memorial Day to all those celebrating and a salute to all who have served. It was a rather quiet weekend in the crypto marketplace as the recent news of the SEC's approval of ETH ETFs continues reverberating. It's been a monumental couple of months with BTC, ETH, and potentially SOL, seeing the ease of exposure for the masses becoming a reality relatively quickly. After some initial ups and downs, ETH closed the week up 27%, back above $3900, with some momentum heading into the new week.

 

News:

  • The SEC has approved all spot ETH ETFs, allowing institutional investors increased accessibility and exposure to Ethereum.

  • Kabosu, the dog that represents the memecoin Doge, has passed away at the age of 18. So long, sweet princess.

  • Futbal superstar Cristiano Ronaldo will be launching his 4th NFT collection on Binance, with registration open now.

 

MVHQ Mission Control:

  • Wake and Jake will be off this week and BossDawgs will move to Tuesday 5PM EST to accommodate Memorial Day here in the states. Be sure to tune in live in MVHQ's VC!