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The fun is really about to begin now.
Officially, Donald
Trump is in office as the 47th President of the United States of America, and while we’ve yet to see that Executive Order to establish a Bitcoin strategic reserve, we’ve already seen some action that should make the future of crypto pretty clear for you. This started over the weekend when during
the Crypto Ball, the Trump team launched a $Trump memecoin. That’s right, Donald Trump now has an official memecoin. In just a few short hours, the token rocketed to a multi-billion dollar market cap that ranked it as the 4th largest memecoin, and within days became the #13
token overall by MC. You should have expected that we’d see another official memecoin too, which quickly happened as a Melania token was launched next. It may have seen less success (it currently has a $700m MC), but it’s a big-time sign about what’s coming. Spoiler - it’s everyone and we’re tokenizing everything. The Solana blockchain and the platforms surrounding it were overwhelmed with users and
transactions from the $Trump mass onboarding event. Phantom was experiencing over 8 million requests a minute, Coinbase had hours-long waits for Solana deposits, and the $SOL token itself was pushed to a new ATH of $286. Price action is great, but what’s really noteworthy here is the sudden rush of new users to crypto. Google search trends show that “bitcoin” and “crypto” searches are on a rapid incline, all while $BTC was touching an all-time high of $109K on Tuesday. Last cycle’s peak search trend occurred well before $BTC touched its
local top, indicating that we have a lot higher to go. This was our Beeple $69m NFT sale (a massive onboarding event from 2021) of this cycle, and the masses are actively flocking in.
The downside to the massive Trump memecoin is the liquidity it sucked from everything else. Simply put, when traders saw the hottest memecoin in the
history of crypto, they sold whatever they had that was liquid so they could participate. That means the rest of the memecoin ecosystem was pummeled, and NFTs saw the same fate.
Floor prices have fallen across the top NFT collections, with Azuki down -9.6% to 11.75 ETH, Pudgy Penguins -13.3% to 20.99 ETH, BAYC -11.5% to 13 ETH, Bitcoin Puppets -24.4% to .085 BTC, and you get the picture.
Still, sales volume
was actually up as the NFT trader base is now growing again. We see that reflected with a +24.34% increase in sales, and a +10.53% increase in buyers. Bearachain, Anime Chain, and Abstract Chain are all launching by the end of January, and they’re going to ignite the NFT markets on fire. There’s a high chance that the red-hot run we’ve been waiting for is basically here, and once it takes off, it will be hard to keep up with the pace. I for one welcome the change of
pace. - Azuki
Sales: $13,735,253 (+49.42%)
Buyers: 199 (+36.30%)
Top Sale: Azuki #1206 | 24.88 ETH ($79,791.70)
Average Sale Price: $46,783.11 (-2.93%)
- CryptoPunks
Sales: $11,144,676 (+304.96%)
Buyers: 38 (+123.53%)
Top Sale: CryptoPunk #6472 | 225 ETH ($740,179.50)
Average Sale Price: $142,904.13 (+10.11%)
- Pudgy Penguins
Sales: $10,111,971 (+22.50%)
Buyers: 71 (+4.41%)
Top Sale: Pudgy Penguin #1441 | 41.206 ETH ($137,731.89)
Average Sale Price: $65,344.82 (+7.14%)
- DMarket
Sales: $7,863,134 (+7.67%)
Buyers: 20,435
(-1.92%)
Top Sale: Gaming Skin #18886 | 56,771.36 MYTH ($14,067.50)
Average Sale Price: $27.92 (-0.96%)
- Milady Maker
Sales: $7,633,054 (+689.79%)
Buyers: 289 (+416.07%)
Top Sale: Milady #1587 | 18.85 ETH ($62,436.84)
Average Sale Price: $16,104.28 (+28.67%)
- Azuki Elementals
Sales: $6,005,110 (+33.33%)
Buyers: 565 (+29.00%)
Top Sale: Elemental #9583 | 30 ETH ($98,684.69)
Average Sale Price: $7,532.49 (+7.89%)
- Guild of Guardians Heroes
Sales: $4,583,725 (+9.82%)
Buyers: 2,992
(+14.64%)
Top Sale: Hero #13745 | 2,423.0723 IMX ($3,020.40)
Average Sale Price: $812.54 (-3.45%)
- Bitcoin Puppets
Sales: $3,170,157 (+4.15%)
Buyers: 195 (-2.99%)
Top Sale: Puppet #8978 | 0.2986 BTC ($31,456.61)
Average Sale Price: $8,145.22
(-2.75%)
- Lil Pudgys
Sales: $3,169,154 (+57.68%)
Buyers: 261 (+82.52%)
Top Sale: Lil Pudgy #18542 4.48 | 1 ETH ($14,933.32)
Average Sale Price: $8,423.17 (+9.02%)
- Bored Ape Yacht Club
Sales: $3,066,282 (+60.05%)
Buyers: 55 (+44.33%)
Top Sale: Bored Ape #337 | 22 ETH ($75,001.70)
Average Sale Price: $51,482.12 (-1.03%)
- Ethereum NFT sales are up +39.16% this week to $93.87m with buyers up +39.87%. Azuki NFT sales are leading
the charge ahead of their $Anime token drop on Thursday.
- Bitcoin sales are down -14.60% while buyers climbed +105.97% on the week. Ordinals prices are still around multi-month lows, but slowly collectors are realizing the bargains ahead of
the main NFT run.
- Solana NFT sales fell -14.36%, but buyers are up +111.14% in the past 7d. Memecoins are primed for a major comeback after the $Trump token sucked liquidity from basically everything, and
NFTs will see one of the main benefits from a rotation back.
- Azuki’s $Anime coin will go live this Thursday along with the launch of their highly anticipated Anime Chain. Details including how many tokens each Azuki holder will receive should be arriving today via the Azuki Discord.
- Abstract Chain will be live next week, and along with it some of the easiest tools we’ve seen to date for navigating Web3. We now have details about an in-wallet video
streaming feature that will give content creators XP (and probably $ABS rewards) for building on the chain.
- Legendary NFT artist Beeple has revealed his newest creation, a digital and physical work called DIFFUSED CONTROL. The piece has been acquired by a user named Kanbas for an
undisclosed amount, but it’s rumored to be multiple millions of dollars.
- Sei traders are saying goodbye to one of the blockchain’s first NFT marketplaces, Pallet. As they wind down operations they will be giving back to the community by gifting
their entire $SEI treasury to the marketplace’s top 500 traders.
The CryptoSlam 500 NFT Index is down -2.895 in the past 7d, and it’s hard not to notice when the decline started. This past weekend was one of the biggest liquidity drains we’ve seen to date in NFTs when traders sold off their NFTs to get into the $Trump token.
The good
news is, just like everyone expected Donald Trump’s token to cook, the community expects NFTs to come back with a vengeance.
This will be a pace-setting week for crypto, as we expect executive orders to create a bitcoin strategic reserve, changes at the SEC, and direction on regulations. It’s an exciting time for the entire sector.
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 - OMB White Eyes appears on Bitcoin ahead of the major collection’s release.
Julia - Distorted Eden
Date - Jan 21
Blockchain - Tezos
Price - 5 TEZ OSF + Harto - Scream Date - Jan 22
Blockchain - Bitcoin
Price - TBA
Cartooners
Date - Jan 28
Blockchain - Ethereum
Price - .0088 ETH
Berry Kim - Merry Berryland
Date - Jan 21
Blockchain - Ethereum
Price - .0055 ETH Yama Wrld
Date - Jan 24
Blockchain - Bitcoin
Price - .0008 BTC |
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