SLAMai has a major announcement dropping real soon that you won’t want to miss—The BULL is charging toward something BIG. Stay tuned! For the Love of the Game (Market Commentary) |
Last week you might have been wondering how much higher we can go and how fast. This week, you might be
wondering how much lower.
Crypto took a nose dive this week, with Bitcoin falling to as low as $98k. However, a sign of just how bullish this market remains is that BTC repeatedly bounced back above $101k each time.
A shock hit the stock market yesterday when a new AI application called DeepSeek started making news. It’s a China-based AI Assistant that was developed in under 2 months for less than
$10m, and it seems to be running circles around ChatGPT. It’s faster, maybe smarter, and now it’s safe to say people are reconsidering how much other projects in AI should be worth now.
NVIDIA stock prices fell 16% and took the rest of the stock market and crypto market with it. Basically, if better AI can be made for less, why are we valuing existing products so high? I read this differently, as just another bullish indicator for what’s ahead of us this year. Faster growth in AI, and cheaper to build it? Game on. Crypto had some undeniably bullish news in the past week. In fact, so bullish that I can’t believe that crypto prices aren’t much, much higher. (It does explain the bounceback though.)
Eric Trump is stating that US-based crypto projects will not pay capital gains tax. It might be a pipe dream, but for now, projects like Pudgy Penguins, Solana, Cardano and others are looking forward to a special era. We
also had reports that My favorite story of the week? Exciting news for NFT and memecoin
traders from the US’ Crypto Czar who said both assets are collectibles.
But the best news of the week was an executive order signed by Donald Trump that would evaluate establishing a digital asset stockpile. No this isn’t the Bitcoin strategic reserve, but it would allow the US to hold onto all of the crypto we’ve seized over the years
from places like The Silk Road. The NFT market finished down last week for the first time in 2025, but by just a razor-thin margin. Sales fell by just -0.11% while sellers were down -17.30% and buyers down -18.72%. It’s trade profits that stand out this week and traders exit their Azuki NFTs at a huge loss after the $Anime coin TGE last week. Now Pudgy
Penguins face a similar fate even with no Abstract token being launched yet. Still, Abstract Chain is the biggest catalyst for the NFT market we’ve seen so far this year. Will it turn NFTs around, or put an end to this run before it ever really begins? It won’t take long to find out. - Azuki sales were up +100.01% to $26.48m in the past 7d driven by hype from their $Anime coin launch, and then a mass sell-off following the token price’s massive
crash.
- Pudgy Penguins' $12.92M in sales were up +36.82% from the prior 7d period. Their Abstract Chain finally launched yesterday to some pretty solid
hype, and the community is expecting some big surprises from them still. We’re awaiting details of their $ABS token drop.
- Mad Lad's sales are up +92.94% to $4.02m, and these guys had big news this week. Their parent company Back Pack launched their exchange in open beta
this week. Expect big things from this ecosystem in 2025.
- Ethereum NFT sales were up +14.21% to $103.78m in the past 7d with
buyers up +9.02%. Now with Abstract Chain live, we wait to see how much action from Ethereum leaves to test the waters over where the Pudgy Penguins are building.
- Bitcoin sales fell -14.14% with buyers up +39.24%. Don’t let the increase in buyers fool you into thinking collectibles are up. A majority of those
buyers were trading BRC20s ahead of BRC 2.0 going live, while collectible floor prices like Puppets have fallen to even lower lows. Bitcoin Puppets are currently at .066 BTC and NodeMonkes at .075 BTC.
- Solana NFT sales also fell in the past week, down -14.91% to $15.76m. Memecoins are down, and NFTs are down, but the red hot chain accounted for 6 of
the top 10 fee-generating protocols in a 24-hour period recently.
- Abstract Chain is now live, and with it, plenty of hope that NFTs will see a major rebound. While we wait for a few major mints to tip us off for how hot things will get (I’m looking at you Abstra Universe and Pixelady Maker). In the meantime, the community is appreciating the “consumer crypto” chain and its slick UI/UX, along with all of the content being streamed directly on the platform’s main page.
- The Jupiter exchange on Solana had a couple of splashy announcements this past weekend following their $JUP token claim last week. The ever-expanding DEX will begin buying back their own tokens using 50% of their protocol fees and also announced that they have acquired a majority stake in Moonshot.
- OpenSea has opened up the doors to their OS2 beta to their Gemesis NFT holders as we get closer to
their supposed $OS TGE. It appears that we’re in store for plenty of points farming exactly like we saw with Blur over the past 2 years. Should we expect different results this time around? (Probably not)
- Yuga Labs might have some more surprises up their sleeves this year. We know they’re launching their Otherside Metaverse in June (and they’ve now shown off some 3D concept art of their Otherdeed land). Now Garga is possibly hinting at a token airdrop for Bored Ape holders, given the new crypto-friendly regulatory environment.
The CryptoSlam 500 NFT Index is down -2.79% in the past 7d as crypto and NFT floor prices both took a beating. The crypto market just couldn’t get upward momentum even with unrelenting bullish news. Some speculate that the price of any
crypto-friendly policy from the Trump administration is priced in, while others think traders are just being extra cautious given how much higher $BTC is from just a few months ago (+30%).
NFTs still struggle to find any real utility beyond being held for token airdrops/claims, or existing as pure collectibles. Their falling value reflects this perfectly. The Abstract ecosystem is a giant x-factor over the next many weeks, and so will be the
Bitcoin ecosystem’s collectibles once this bull market returns to the banana zone. It still feels like a matter of when instead of if. 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 Cartooners
Date - Jan 28
Blockchain -
Ethereum
Price - .0088 ETH Sunken0x - Lurkers
Date - Jan 28
Blockchain - Bitcoin
Price - .00088 BTC Magic Eden - Green Emmy
Date - Jan 28
Blockchain - Abstract
Price - Free
RedruM - Metamorphosis
Date - Jan 28
Blockchain - Ethereum
Price - .088 ETH Operation Safe Place Universe - Lucille Packs
Date - Jan 31
Blockchain - Sei
Price - 7 SEI |
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