Weekly Recap 5/6-5/12 - MVHQ

Weekly Recap 5/6-5/12

MVHQ Staff
May 13, 2024
News
Weekly Recap 5/6-5/12

Monday 5/6

 

Fantasy.Top's first big tournament kicked off today and with it came a glimpse of a world where WAGMI is more than just a meme. Portfolios were up only for the influencer-trading card game hybrid where values mooned across the board. Influencers also got their cut of the loot in the form of 409 ETH paid out to them. We bore witness to one of the rare days where traders, legitimate platform users, and influencers all won in what Michael Scott would call a win-win-win scenario. The other major headline was not so optimistic as Robinhood's crypto arm received a Wells Notice from the US SEC, so it seems like they're not tired of the recent lashings in court at least!

 

NFTs were quiet for most part on our usual favorite chains like ETH and BTC but Blast is another story entirely. Blast has continued its dominant run in volume thanks to it's fast-approaching TGE. Plutocats (2.19E, -8%) traded over 3000 ETH in volume thanks to the efforts of one particular farmer who dumped over 250 NFTs in a single trade. The floor plummeted but recovered slowly through the day as Fantasy.Top's volume never slowed down. BTC, ETH, and SOL ended the day at $63k, $3050 and $154 respectively.

 

News:

  • Robinhood released a statement that they have received a Wells Notice from the SEC indicating they are likely to be the subject of a lawsuit from the governmental agency.

  • Fantasy.Top's first main competition went live today with prizes of over 200k Blast Gold, 50 ETH, card packs and more

  • Jupiter Exchange announced the launch of Clone Protocol which will allow users to trade assets not natively on Solana like $DOGE, $ARB and more all on the SOL blockchain.

 

MVHQ Mission Control:

Welcome to MVHQ MIssion Control! Here you can find a list of active Missions on the MVHQ App to start earning rewards today!

 

 

Tuesday 5/7

The keyboard warriors of Web3 were firmly in the trenches today rallying behind their influencers of choice. That's right, Fantasy.Top was still top of mind as players turned to reporting, botting and more to gain whatever edge was to be had for the rewards. That was far from the only activity on Blast as Yolo also raked in the fees from gamblers farming Gold. While it may have started off slowly, it's hard to deny the recent success and growth of Blast with its TGE scheduled for the end of the month. NFT volume was yet again nothing to write home about, that is unless you are the belle of the ball on Blast! Plutocats (2.3E) topped the charts for a second day in a row after a dramatic reversal of its price action with a +8% day and 2100 ETH in volume traded. Crypto took a small hit with BTC closing at $62.7k and ETH at $3025.

 

News:

  • Polygon launched the Alpha Testnet for its latest advancement, the Miden Testnet, a zk-rollup built on Polygon.

  • Popular minting platform, Zora, acquired mint.fun, which serves a similar purpose for creators to distribute and mint collections.

  • Sam Spratt's Skulls of Luci collection saw a second piece from the collection trade hands this week, today's at an undisclosed price.

 

 

Wednesday 5/8

 

It was another day at the Blast casino as degens look to eek out every last drop of gold possible from the ecosystem. The influencer-meets-DFS craze continued today with Fantasy abruptly ending their first main tournament to deal with bots and work out some kinks. Now we all wait with bated breath to see if our scores stick and what rewards are waiting on the other end! The project blessed by the farmers today turned out to be Blast Penguins (.18E, +12%) who were recipients of the most volume at 1800 ETH traded. Not bad for a flightless bird! Crypto was down again across the board with BTC and ETH closing the day around $61.5k and $3k respectively.

 

News:

  • Fantasy.Top ended their debut Main Competition a day early in order to address concerns of botting and answer any community questions ahead of their first big distribution of prizes on Friday.

  • Injective announced their intention to cooperatively build a Layer 3 blockchain with the help of Arbitrum and integrating their own modular tech.

  • A report from Coindesk suggested that all FTX creditors will be paid back to the tune of 118% of their deposits, pending approval from a bankruptcy court.

 

MVHQ Mission Control:

Welcome to MVHQ MIssion Control! Here you can find a list of active Missions on the MVHQ App to start earning rewards today!

 

 

Thursday 5/9

 

It was another typical day in the Twilight Zone we call Web3 with contract exploits, political campaign stumping and more MVHQ Missions! Bloom started the day off in the worst way imaginable by being subject to a contract exploit and losing $600k of funds to hackers. Remember to stay safe out there kids! Wolf Game came out of hibernation to announce a move to Blast to chase after the Gold everyone is lusting over, which I guess explains the totally coincidental 160% pump on the $WOOL token yesterday. Nothing to see here folks!

 

Volume on the big three chains was still depressed with Blast also suffering the consequences today, seeing its first major day of losses in the top projects as farmers have potentially reached a point of exhaustion for now on the casino-chain with many projects seeing floors decline by 10-20%. Crypto experienced some green candles for the first time in a while with BTC closing at $63k and ETH at $3030.

 

News:

  • Bloom, a perp dex built on Blast, was the latest victim of a contract exploit, losing over $600k worth of USD in user funds.

  • The Cyberkongz team released a manifesto around their recently launched Decentralized Rune fueling speculation on what may be coming next.

  • Wolf Game announced that it will be moving to Blast imminently in a much-needed refresh of the ecosystem.

 

 

Friday to Sunday 5/10-5/12

 

Cheers and a very Happy Mother's Day to all the degen Mama's out there! It was a relatively quiet weekend across the crypto landscape as Fantasy.top continues dominating the timeline with hopeful influencers making their plea to be included in the upstart game. The first Hero update went live, and notable names like Pentoshi, Luca Netz, and Franklin got the call to the roster. Blastoadz sold out its 5000 supply collection at 0.025E and currently holds a 0.07E floor after over 200E in volume on Blast, as things look to heat up on the new L2 with the month of May nearly half over.

 

Volume on ETH has definitely been ramping up compared to the other top blockchains after accounting for over 54% of the weekend activity, closing on Sunday at $14.3M in transactions. The price of ETH, however, saw an 8% decline on the week and is now floating just under the $2900 mark, while BTC sits just under $61K and SOL at $139.

 

News:

  • Blast has gone live with its 3rd Gold distribution and a new Real World Asset (RWA) category and dapp weight called Platinum set to be eligible for the upcoming dispersement of 15M Gold.

  • Pudgy Penguins are expanding to Target as the team announces Pudgy Toys with Pudgy World are now available at one of the U.S's leading retail stores.

  • Artist OSF_Rekt releases Blast Vegas as a free mint. The 6666 supply collection sold out and is holding a floor just under .02E on Blast.

 

MVHQ Mission Control:

Don't forget to complete all of our latest missions featured on the MVHQ App! Earn rewards with some of the top partners in Web3, all at the click of a button. Missions currently live include: