For the Love of the Game (Market Commentary) |
Perhaps you’ve heard that AI will one day soon replace your job? That reality is inching closer by the
day, and boy are people paying attention. In crypto, the discussion around AI is getting frothy, with people speculating about how AI will change the way we think about money. And while traders are busy debating exactly what the future will look like, the AI crypto sector is absolutely dominating crypto mindshare. AI agents are quickly becoming the 2020 summer of DeFi or the 21/22 NFTs of this cycle. If you thought we wouldn't see a serious cycle bull run without a major narrative, that narrative is here. One of the cycle’s top AI coins, $Ai16z, is a major leading indicator of the potential of this sector, and once again it has hit a fresh all-time high. Yesterday the token hit $2.4b, and the community thinks it may be undervalued even here. In fact, it’s starting to be valued like an infrastructure token instead of a
memecoin, which means you have to start comparing it to tokens like $ADA, $XRP, $AXAX, etc. Will we see an AI agent token like $Ai16z valued this way and possibly enter the top 10 cryptos? AI will fuel this run, and give traders something to speculate on beyond Bitcoin and other top cryptos, but $BTC still cannot be ignored. Bitcoin is expected to find its new ATH and possibly peak cycle price in October this year if it follows previous halving trends. Right now call options are soaring, priced at $100k and $120k showing that many traders believe Bitcoin is about to soar to new ATH after Donald Trump’s inauguration on the 20th. Beyond gains from crypto, we’re still looking forward to many more liquidity-injecting events, and while OpenSea, Jupiter, Abstract, and other airdrops will give us a nice stimulus, there’s one major drop that can really fuel this run. That’s the long-anticipated FTX repayment, which is finally a reality as of last
Friday. This $16B repayment to creditors will arrive in the form of cash, right to the accounts of people who were already crypto traders. It’s a pretty safe bet that a percent of this will find its way right back into the market. The NFT market is getting set to take the stage. As the days go on I’m getting more confident that the 2025/26 NFT cycle could indeed surpass what we saw last time around. A mainstream crypto cycle, now legitimized by the Trump administration
and crypto-friendly congress, along with the emerging AI crypto sector will be an incredible foundation for NFTs to springboard off of.
The NFT market finished down last week, as traders enjoyed time with their families during the holiday break. On top of lower volume, we also saw the expected end of year loss harvesting which drove trade profits to an 8-week low. Already this week sales are creeping back up, with yesterday’s 15-day high of $25.1m in sales. We’re now onto the main quest of the 2025 NFT bull run, and it feels like opportunities will be coming fast and furious. Next week’s report will be a
great barometer for what this space really thinks of the NFT market. - Pudgy Penguins are just a couple of weeks away from their Abstract Chain launch, and sales are now up +5.13% this week to $10.64m. Floor prices are up +26% to over 27.89 $ETH, and the top
sale in the collection was Pudgy Penguin #4222 which sold for 39 $ETH ($135K).
- DMarket is the #2 collection on the week with sales up +8.28% to $6.94m. Buyers saw a +3.49% increase as gaming skins from CounterStrike continue to power this
NFT marketplace.
- Azuki NFT sales are down -34.71% to $5.91m ahead of its Anime Chain and $Anime token launch. It’s rumored that both may launch this Sunday on the project’s 3-year anniversary, so expect prices and
sales to climb leading up to it, along with a price dump following a token drop. Azuki’s top sale was Azuki #8044 which sold for 37 $ETH ($132K).
- Courtyard sales are on fire this week, up +20% to $3.03m. This is Polygon’s only collection in the top ten this week, as their collectible cards backed by NFTs have found product market fit in
crypto.
- CryptoPunks sales are up +170.03% to $4.43m, with buyers up +110%. The top sale was CryptoPunk #4757 which sold for 125 $ETH ($453K).
- Mad Lads parent company Backpack dropped some major news today, announcing that they have acquired FTX EU. Mad Lads NFTs are flying on the news, now up +205.02% on the week to $4.38m. The top sale this week is Mad Lad #3791 which sold for 120 $SOL ($25K).
- Ethereum sales are up +14.24% this week to $65.14m. We’re close to entering L2 season with Abstract’s
imminent launch, along with expectations that Base and other chains heat up. Can Ethereum maintain its lead?
- Bitcoin ordinals sales fell -2.11% to $29.35m during an unusually slow week. Still, buyers are up +12.58%, highlighting the growth of the NFT market so far this year. Now we have a
major collector, Cozomo de Medicic who is sharing his love of ordinals. It may not be long before we see ordinals season.
- Solana sales are back on the rise, up +11.57% to $17.59m. Buyers are up +22.35%, outpacing both Ethereum and Bitcoin.
- CryptoDickbutts, an OG 2021 meme NFT collection came roaring back to life this week as traders start making big bets on what will outperform this cycle. Sales are up +533% this week with
$1.36m in sales, while CDB #4193 was the top sale at 14.2069 $ETH ($51k).
- Are you wondering if rare sats will hold value? We might have our answer this week after seeing a $185k sale for a Block 9 sat, which
comes from the first Bitcoin transaction.
- Base NFTs are starting to pick up traction, and this week we saw 2 Base collections enter the top ten. Onchain Gaias
traded for over $1.87m in the past 7d, while the Virtual AI agent launchpad inspired Virtual Waifus traded for $1.71m.
- Parallel Avatars might be one of the most interesting plays this cycle, sitting at the intersection of AI, gaming, and collectible NFTs. Sales prices climbed +506% this week to
$952k.
The CryptoSlam 500 NFT Index is up +1.21% this week after crypto saw a return to the $100k level in the new year. NFT prices are on the rise as well now that we’re past the tax loss harvesting season. This is the time of the cycle where prices
can really start to run, especially ahead of major token drops from Azuki, Doodles, Pudgy Penguins (Abstract Chain), Jupiter, and OpenSea. Traders are willing to spend their tokens now, knowing that they likely have plenty more on the way.
At this point it’s not a question of if the NFT market will cook, but instead which assets and what chain. And of course, we’re all wondering how high it can get with a crypto-friendly political climate in the United
States. Things could get hot really fast. Be smart and keep your finger on the pulse of this market, by keeping your eyes on CryptoSlam and the indexes. You can stay plugged in by fixing your vision on our new daily Web3 live show called Chain Reactor.
Have a MEGA GM! — Yehudah Petscher Kyle - Among the Infinite
Date - Jan 11
Blockchain - Base Price - .005 $ETH JJ Roads - Migration Patterns
Date - Jan 11
Blockchain - Ethereum
Price - .02 $ETH
DegenCoinFlip
- AluxWatches Date - Jan 7
Blockchain - Solana
Price - .05 $SOL Monki
Date - Jan 9
Blockchain - ApeChain
Price - 8 $APE Hands in Factory and Uptempo - Running Mon
Date - Jan 12
Blockchain - Immutable
Price - $14.99 USD |
AI Agents are autonomous software programs designed to perform tasks, interact with users, or make decisions with minimal human intervention. In the crypto space, these agents are gaining traction by enabling innovative use cases, such as
trading strategies, data analysis, and NFT integration. With tokens like $Ai16z leading the charge, AI agents are transforming how traders interact with markets, fueling speculation, and driving conversations about the future of decentralized finance. Received this from a friend? Sign up for this CryptoSlam VIP newsletter. |
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