Weekly Recap 7/3-7/9 - MVHQ

Weekly Recap 7/3-7/9

MVHQ Staff
Jul 10, 2023
Weekly Recap 7/3-7/9

Monday 7/3

After nearly a week of aggressive downward movement, the welcomed glow of green dusted the majority of NFT floors today in a refreshing sight akin to snow on Christmas morning. The bounce in the marketplace gave renewed life to most collections with Azuki (6.8E, +18%) and Elementals (1.04E, +32%) seemingly finding bottom. BAYC and MAYC both saw over 5400E combined in volume, while HV-MTL (0.61E, +37%) also helped anchor the Yuga ecosystem. Pudgy Penguins, Captainz, Doodles, CloneX and Moonbirds were all just a portion of collections to see over 10% in floor price gains. Overall marketplace volume checked in over $32 million, which stays just about on par with our 5-Day average. ETH continues to stay firm in the $1950 range.


The MVHQ Daily Recap will be off tomorrow in observance of July 4th. We will pick it back up on Wednesday. Have fun and be safe for all those celebrating!



  • CirrusNFT details the past few days in the NFT marketplace, tallying 1244 Liquidations on NFT loans over the past 96 hours.

  • Pudgy Penguins will be dropping 150 rare "Banana Suit" collectibles with the sale set to go live on Saturday at 9PM EST.

  • RTFKT teases a Project: Animus trailer with the slogan, "When hope is lost, WE RISE."


MVHQ Spotlight:

  • Yuga's new game, HV-MTL has taken MVHQ by storm with members working together to best strategize their next move. The GOAT 0xJJangbang filled us in with an awesome detailed HV-MTL Strategy Guide for best practices to keep everyone up to speed and grinding away. Find the full guide in our Field Reports channel!

  • Don't miss MVHQ's Weekly Recap hosted by TopHatCat every Monday on Twitter! THC runs us through the most notable moments from last week, in a fun and fresh video segment. Like and comment with your favorite news story and show some love!



Tuesday to Wednesday 7/4-7/5

As Americans celebrated Independence Day and the subsequent recovery, NFTs soldiered on after one of the bloodiest weekends ever experienced by the fledgling market. With the 4th being relatively quiet, today brought Blur's introduction of a V2 and along with it came intense criticism on social media. NFTs were able to see a strong recovery with volume to boot on Tuesday where Wednesday saw a severe withdrawal of liquidity as some of the top Blur farmers exited their bidding games with the introduction of trait bidding.


The usual suspects lead the volume charts with BAYC, Azuki, and Captainz all trading collectively over 1000E in the two days combined. The biggest difference came with Tuesday's $31 million in volume traded across major marketplaces compared to Wednesday's paltry $19 million off the back of Blur's contentious V2 announcement. ETH ended the day after seeing a pull back to $1920.



  • Blur issued a rather large update in the form of Blur V2. These updates include trait bidding, gas opitmizations, and bid points being slightly changed.
  • Kevin Rose, founder of the Proof Collective and Moonbirds, talked today in an update to the community on goals and intiatives met and still being worked on throughout 2023, the core of which revolves around their upcoming token.

  • As Memeland Captainz revealed, so too was their bug bounty. One adept holder has already submitted and received compensation for the reporting of the Alien type art having layering issues.


MVHQ Spotlight:

  • MVHQ MVP Scottco took the reins this morning by leading an impromptu educational session on Blend, Blur's lending protocol. Scottco gave invaluable insight into best practices and tips for farming the most lending points at a competitive rate. Thanks for the great words of wisdom Scottco!

  • As HV-MTL season rages on, MVHQ brought out the big guns in the form of RaggaPrince, JJ, and Grapedutch to give their thoughts and strategies one week into the game during a focused Office Hours hosted by the three. Thanks to their generosity and big brains HV-HQ is rolling like a well-oiled machine stacking top places on the daily leaderboard! Thanks for everything you do fellas!



Thursday 7/6

Degens across the Web3 landscape endured a slow Thursday as if waiting for the other shoe to drop as markets seemed on edge as a whole. News was scarce and no NFT projects saw massive spikes in either direction in their florr prices. Most notably, Binance FUD was back on the menu with rumors swirling of top executives leaving over the recent SEC involvement.


Although secondary market volume saw the slighest of gains over Wednesday, no single project stood out as few were even able to break the 200E mark in volume traded. Major marketplaces transacted just about $23 million while ETH was the casualty of a major sell-off resulting in closing the day at $1860.



  • NFT Inspect integrated MoonPay into its recent Chrome extension update, allowing users to purchase cryptocurrency directly through the app.

  • A report published by CoinDesk suggests several of Binance's top executives have left the company in the wake of the SEC investigations and its handling by CZ.

  • MachiBigBrother introduced a proposal to the ApeCoin DAO for the DAO to purchase 1000 BAYC, 2000 MAYC and several other hundreds to thousands of NFTs from other collections.

  • Polygon Labs and Station3NYC from Bob Loukas have teamed up to offer artists in NYC a space to create and test in as part of a joint intiative.


MVHQ Spotlight:

  • Summer is officially here and with it comes the MVHQ Summer Merch Drop! Whether it's a tank top for the beach or a coozie for a day by the grill, MVHQ has you covered. Be sure to act fast because this sale ends July 17th.
  • MVHQ and Aslokir celebrated episode 50 of the Numbers Therapy podcast today! In honor of the achievement they welcomed MVHQ OG, Zeneca to discuss Web3 entrepreneurship and the state of PFP projects. Don't miss the alpha with Aslo on Numbers Therapy every week!



Friday to Sunday 7/7-7/9

It was a slower paced weekend around the NFT marketplace with volume continuing to dry up since recent local highs. Elementals held steady (1.25E, 670E vol) with The Garden voting on a background decision. Terraforms (+20%, 2E) and OnChain Monkeys (+25%, 1.81E) both had strong weekends and new mint Fatzuki sold out at a 0.0069E price and saw its floors run up to 0.05E. Overall marketplace volume checked in at $27.3 million 3-Day average with Fridays $32 million close peaking the weekend numbers. ETH continues to hold stead above $1850.



  • The Azuki community has voted to not change backgrounds for Elementals.

  • Legendary gaming company, SEGA, will reportedly suspend its blockchain operations and will halt the development of current in-progress projects, according to Blockworks.

  • The Pudgy Penguins "Banana Suit" collectible sold out in just 7 seconds, at $249 per item.

  • Tennis Superstar Andy Murray has partnered with famed digital artist and MVHQ Advisor, Refik Anadol for an official Wimbledon-themed art NFT.

  • NFTPerp, a perpetual futures DEX for NFTs, is closing its v1 private beta and will begin moving forward into it's v2 launch. The v1 beta handled over 280,000 ETH in trade volume.

  • The Gutter Cat Gang Twitter account was compromised with the hackers making away like bandits with over $700,000 worth of NFTs being stolen from one wallet.

  • OpenSea now supports the ZORA network on its marketplace.


MVHQ Spotlight:

  • Are you looking for new ways to grind and farm points? RaggaPrince walks us through a new tool and strategy to farm BLUR trait bid points in our Field reports channel.

  • Did you touch a little too much grass last week? We got ya covered with the MVHQ Newsletter. Sign up now and stay up to speed with all things Web3.