For the Love of the Game (Market Commentary) |
Tensions are high and crypto is on edge, with yet another new war brewing in the Middle East. Fears
that the conflict between Israel and Iran could spiral into a more widespread fight have crypto pulling back, and traders hedging their summertime bets.
Add to this an FOMC meeting tomorrow that is expected to bring no rate cuts, and you have a market that has no conviction to take big gambles on either side of the trade. Still, we’re seeing big advancements in stablecoin legislation, NFT builders, and some more major AI product releases. It’s safe to say, regardless of the market, the builders are continuing to build.
Here’s what happened across Web3 this week. Crypto adoption continues to accelerate through stablecoin launches and legislation. The GENIUS Act is set for a final Senate vote today, and if passed, it will mark one of the most important moments for crypto legislation
yet. - On June 17, the Senate will vote on the GENIUS Act, sending it forward to the House for its
next vote.
- Walmart and Amazon are in talks to launch their own stablecoins.
- Bank of America CEO says the bank is developing its own stablecoin.
- Shopify is set to enable merchants to accept
USDC stablecoin payments.
- Circle (USDC creator) stock climbed to $165 on Monday.
- Stablecoins are expected to
evolve into the money rail of the internet.
NFT Brands Make Big Moves The NFT market might not be cooking, but the few builders creating businesses backed by NFTs sure are. - Pudgy Penguins announced a partnership with NASCAR, bringing branded merch, event experiences,
and exposure to their $PENGU token.
- The Pudgy Penguins also announced a partnership with Lufthansa’s Miles $ More program, Europe’s
largest frequent flyer program. Purchases on the Pudgy Shop now earn you miles for flights, experiences, and more.
- Rekt Brands continues to cook, and on Friday announced that their Rekt Drinks are going mainstream,
hitting the shelves of 7-Eleven this week.
- Rekt Drinks also announced their latest drink partnership, selling out a Jupiter exchange-themed
drink in under 1 hour.
The AI market fell -2.45% this week to a 9.95B market cap. Still, we saw big announcements from the Virtuals ecosystem and major launches like IRIS come to market. AI crypto is thriving, and this now feels like the calm before the storm. - CryptoSlam teased and then live revealed our new WalletDNA, powered by $SWARM, along with the SWARMCopilot. It’s smart money powered by AI for human traders.
- Virtuals reviewed their first 50 days of Genesis launches, which saw 41,000 unique wallets
participate with over $20M $VIRTUAL tokens pledged.
- New features were added to the Virtuals platform, including a shield mechanism that protects against
block 0 snipers, a verified icon for team vetting, and dedicated claim buttons for genesis and airdrop tokens.
- IRIS became the first Ethereum agent to launch on Virtuals, and rocketed to over a $104M
FDV.
- Stratos from the Ithaca Protocol became the 2nd Ethereum agent to launch on Virtuals, bringing agentic options trading.
- PrimoAI also launched on Virtuals with a unique product that gives over 1 million real estate
agents access to AI agents that support their craft.
- Backdoor is a new SocialFi platform that comes from former Blast builders, now building on Base. It’s facing public FUD after VaderResearch and a contributor to the new platform had a public feud over a review score.
- A list of upcoming Virtuals ACP clusters leaked, revealing an education swarm, real estate swarm,
and even an NSFW adult swarm.
- AIxVC, the team behind Axelrod, has officially integrated Hyperliquid
trading.
- Major NFT sales this week include a rare Meebit, which sold for 200 $ETH ($500K), and a Skull of Luci - Foreshadow for $360K $USDC.
- A new XCOPY derivative collection called X-FIGURES came out, taking iconic XCOPY characters, and through
AI, turned them into digital 3d figures. The collection minted for .018 $ETH and climbed to as high as .5 $ETH on secondary.
- The founder of the OG DeadFellaz NFT collection, Betty, minted a new 50k edition collection called Ghost Machine on ApeChain. The collection minted at just $1 and today reached 6.17 $APE ($6).
- Azuki became the latest major NFT collection to launch sticker NFTs on Telegram. The collection
sold out in just minutes at $29 and reached roughly $300 on secondary markets.
- ThankYouX, a fan favorite NFT artist, launched his new art collection called “The Process”. It minted out in just 3 minutes, bringing in 6.9 $ETH ($19K).
- NFT sales hit a 17-week high, coming in at $122.28M.
- Trade profits fell back into the negative at -$1.85M, failing to maintain any positive momentum.
- Buyers, sellers, and transactions fell, but the average sale price for NFTs hit a 4-week high at $94.21.
ETH NFT Composite - 592.74 (-1.33%)
SOL NFT Composite - 510.41 (+0.02%)
POL NFT Composite - 1.33 (-59.70%)
CAR NFT Composite
- 354.89 (-3.70%) Top Gainers 7d WBT - $51.76 (+64.1%)
AB - $0.01554 (+39.6%)
SKY - $0.09491 (+24.4%)
UNI - $7.84 (+18.7%)
HYPE - $44.44 (+16.6%)
Top Losers 7d
TIA - $1.81 (-11.6%)
IP - $3.60 (-11.3%)
INJ - $12.15
(-10.6%)
RENDER - $3.59 (-9.9%)
WLD - $1.01 (-9.6%) Virtuals Agents
Backroom
Date - June 17
Blockchain - Base
Token - $ROOM
Cybercentry
Date - June 17
Blockchain - Base
Token - $CENTRY Legend
Date - June 18
Blockchain - Base Token - $LEGEND Sovra AI
Date - June 19
Blockchain - Base
Token - $SOVRA VPay
Date - June 23
Blockchain - Base
Token - $VPAY NFTs Delta Sauce - Feed
Date - June 17
Blockchain - Ethereum
Price - .1 $ETH THE DROPZONE
Date - June 17 Blockchain - Base
Price - .0016 $ETH DeePle Stuff
Date - June 19
Blockchain - Shape
Price - .008
$ETH Inconito
Date - June 19
Blockchain -
Solana
Price - .65 $SOL |
A multi-agent system (MAS) is a network of independent AI agents that interact, collaborate, or compete to achieve complex tasks. Each agent operates autonomously but can coordinate with others, enabling decentralized problem-solving across
systems like trading, prediction markets, and autonomous protocols. Many of today’s emerging crypto-AI projects—like Virtuals and its Swarms—are built on MAS frameworks. Received this from a friend? Sign up for this CryptoSlam VIP newsletter. |
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