Weekly Recap 5/27 - 6/2 - MVHQ

Weekly Recap 5/27 - 6/2

MVHQ Staff
Jun 3, 2024
News
Weekly Recap 5/27 - 6/2

Tuesday 5/28

 

As the US returned from Memorial Day weekend, it feels like Web3 and crypto didn't quite get the memo that vacation is over. The slow start to the week trudged on with Fantasy Top's headline contest beginning today as well as some seemingly under the radar announcements out of Azuki and Sappy Seals. Also of note, and not to be confused with the popular deli meat, Ryan Salame of FTX infamy was sentenced in court to a longer than asked for period of time. We'll just chalk that up under the W category.

 

NFT volume was moderate if unexciting, with BTC marketplaces leading the field with just $13 million total volume. The real mover of the day was BTC Runes, with Leonidas' DOG GO TO THE MOON rune, up a whopping 34% and passing a $500 million marketcap. BTC and ETH were relatively flat on the day at $68.8k and $3875.

 

News:

  • Ryan Salame, a former FTX executive, was sentenced to 7.5 years in jail for his role during the collapse of FTX.

  • Sappy Seals released a video today teasing an upcoming gaming partnership with Play Ember that will supposedly go live on the Monad testnet.

  • Azuki announced they are now accepting character submissions for an upcoming project with holders of Azuki, Elementals and Beans all able to participate.

  • The Sandbox Game launched a DAO feature in order to govern more portions of the burdgeoning gaming platform and its future experiences.

 

MVHQ Mission Control:

  • Missing your weekly dose of NFTs and need a refresher? Then head on over to the MVHQ YouTube page where you can find all of our shows like Wake & Jake, Boss Dawgs and more!

 

 

Wednesday 5/29

 

It seems crypto is trying to speedrun this cycle the way influencers and entertainers are cropping up left and right to launch self-serving coins. Iggy Azalea, Soulja Boy and more came out of the woodwork to shill and grift so I would assume this meta keeps on for a while. Yippee. On the brighter side, Paypal and Mastercard both had fairly bullish announcements showing real progress with their crypto products and roadmaps. It might just be another stablecoin but at this point I'll take it!

 

Following up on Runes' last couple of days, BTC Ordinals blew up the charts today with $21 million in volume spearheaded by NodeMonkes and BTC Puppets as per usual. ETH and SOL NFTs lagged behind but will hopefully see their day soon enough. BTC, ETH and SOL closed the day at $68k, $3780 and $170 respectively.

 

News:

  • Paypal entered the big leagues of Web3 by launching $PYUSD, a stablecoin on Solana issued by Paxos.

  • RTFKT announced they will be selling a limited supply of Nike Genesis shoes on the SNKRS app on June 13th.

  • Mastercard launched a feature dubbed Crypto Credential, which will allow users to send and receive crypto via username, removing the wallet address aspect entirely.

  • Pacmoon launched the V2 of their platform which now allows users to earn the token in a variety of ways, including social media posting and validating.

  • LayerZero posted their protocol has gone live on the Solana network, allowing even more cross-chain bridging possibilities.

 

MVHQ Mission Control:

Make sure to stop by the MVHQ App to see our latest and greatest partners offering coveted allowlists, points and NFTs for users!

 

 

Thursday 5/30

 

The onchain world was rather quiet today, perhaps as it gears up for what is hopefully an exciting June right around the corner. Pudgy Penguins teased a gaming partnership with Mythical Games, but with nothing said to come until 2025 we'll have to be content with just that. Do Kwon also made the news with Coindesk reporting that he has reached a settlement in his case with the SEC. The biggest market mover seemed to be Donald Trump's guilty rulings in court, which despite the connotation, sent coins like $TRUMP and $TREMP soaring. There truly is never a dull day in crypto.

 

BTC Ordinals were still the belle of the ball for NFT volume, raking in nearly $20 million for a second day in a row thanks in large part to Frucks, a cute new project trading over 11 BTC. BTC closed near $68.3k with ETH at $3740.

 

News:

  • Pudgy Penguins is teaming up with Mythical Games to launch an upcoming mobile game for the pengus in 2025.

  • Do Kwon and Terraform Labs have agreed to a settlement with the SEC regarding his fraud case related to the collapse of $LUNA.

 

MVHQ Mission Control:

MVHQ has back to back days of new Missions available through our App!Check out today's newest partners including:

 

 

Friday to Sunday 5/31-6/2

 

It was a mostly sideways week amongst the major crypto movers as pockets of memecoin activity continue to hold most of the timelines attention. In a week littered with celebrity launched tokens, pop star Iggy Azalea succesfully launched $MOTHER on Solana which has touched as high as $70M marketcap. In comparison, boxer Floyd Mayweather lanched $FLOYD which proceeded to brick, peaking out below a $2M marketcap. There was no substantial movement on the major crypto coins as BTC ends the week at $68.8k, while ETH sits just above $3.8k and SOL just below $165. Lets hope things heat back up this week!

 

News:

  • Magic Eden unveils new analytics pages for Runes, with chart integration into collection pages.

  • Pudgy Penguins surpass 20 Billion (yes with a B) GIPHY views

  • Animoca Japan announces a new NFT launchpad called SORAH, launching summer 2024.

  • RTFKT teases 2D art of what looks to be PFPs.

 

MVHQ Spotlight

  • A big congratulations to our newest 2x MVP winner, Kuruptshun.eth!! Seth continues to make a significant impact on our community with insightful Field Reports and help for others. He takes home a 2.5E prize and a free 2025 MVHQ key! Make sure to give him a follow!