For the Love of the Game (Market Commentary) |
The markets are healing. You can see it in BTC’s multiple new all-time highs this week, but you can
also see it across the timeline on X.
Multiple major social media accounts have changed their PFP to a Pudgy Penguin to celebrate the renewed bull market energy, and they’re celebrating by helping Pudgy Penguins fulfill their destiny to become the face of crypto.
Animoca rocked a Pudgy Penguin PFP, Polkadot did too, and you can add Binance, Radium, Justin Sun, and a dozen more staples of Web3 to that list. Now it’s Crypto Week here in the USA, and some
massive pieces of legislation are expected to be voted on (and passed). We have the CLARITY Act and Anti-CBDC bill heading for a vote on Thursday, and the GENIUS Act vote coming on Friday. If these pass, we may find a type of euphoria in the market that makes everything in the past look like practice.
We’ll report on the results of these votes next week, but for now, let’s get into the biggest stories across crypto in the past seven
days. Bitcoin hits all-time high It shouldn’t be surprising, but it is poetic - on Crypto Week, BTC rocketed to a new all-time high. - Bitcoin set new ATHs on Thursday, Friday, Sunday, and again on Monday morning, reaching as high as $122,780.
- Fueling this run is global M2 continuing to climb, record ETF inflows, and the expectation that the GENIUS and CLARITY Acts will pass the US House this week.
- Bitcoin’s market cap climbed to $2.36T, flipping Amazon to become the 5th largest asset on
Earth.
- BlackRock’s iShares Bitcoin ETF is the fastest ETF to reach $80B in assets, achieving the milestone in just 374 days. The previous fastest was VOO, which took 1,814 days.
PumpFun’s highly anticipated PUMP token presale took place on
Saturday. - In total, $600M was raised on the 150 billion token
presale.
- Tokens were sold out in just 12 minutes.
- Bybit accidentally oversubscribed their presale and had to issue refunds along with $20 site
credits.
- Rumors are now flying that community airdrops will be capped at just
$2,000.
- PumpFun announced their acquisition of KOLScan and their trader
leaderboards.
- PUMP tokens were dropped to buyers on Saturday and went live for trading
yesterday.
- Right now, PUMP’s FDV is sitting at just $5.54B, up from its $4B presale
price, but well off the $6-$8B predictions many were hoping for.
- Binance has now announced its own PumpFun token launchpad.
The AI market climbed +11.41% over the past week, reaching a $10.45B market cap. AI crypto majors followed the rest of the market with FET up +7.23%, FARTCOIN up +16.27%, and VIRTUAL up +16.33%. - Last week’s completed Virtuals launches saw mild success with $DNYA sitting at a $289K MC, $DESS at $339K, $AIAPE at
$552K, $SRV at $101K, and $REALMINT at $209K.
- The Swarm Report by The SWARM team hosted a few big guest projects this week, including 2WAI,
and AIAPE.
- Vader Research has delayed their new Rap Renting system to this
Thursday.
- Grayscale released a new AI research report, which included Virtuals and
AIXBT.
- Arbus announced a partnership with Whale Intel and teased a new product called Arbus Chirps.
- Eva Online announced a partnership with ON1 Force to connect NFTs to EVA
tokens.
- Virtuals teases a new memecoin cabal agent cluster in the ACP.
- Kosher Capital’s Wasabi protocol trading is now live.
- The head of BD at Acolyt is now joining the Virtuals team to lead BD in
LATAM.
- Whim Bet launched their first betting markets.
- xAI released their most powerful version of Grok yet with the release of Grok
4.
The top sales in the NFT market over the past 7d include: Autoglyph #195 selling for 95 ETH ($283K) / Otherdeed #7 for 100 ETH ($278K) / Autoglyph #194 for $215K / Boogle #15 for 1,150 SOL ($174K) / Beeple’s / Politics is Bullshit #30 for 60 ETH ($169K) / CryptoPunk #6774 for 54.2 ETH ($161K) / NodeMonke 399 for .985 BTC ($119K) / Zancan’s Garden Monoliths #0 for 44,300 XTZ ($28K) - Ordinals are picking up major steam with NodeMonkes up +92.3% to .047 BTC, Quantum Cats up +71.2% to .048 BTC, Bitcoin Puppets up
+48.9% to .042 BTC, and Taproot Wizards up 19% to .186 BTC.
- Ethereum NFTs saw similar increases with CryptoPunks up +8.4% to 42.25 ETH, Pudgy Penguins up +46.7% to 13.49 ETH, Lil
Pudgys up +38.3% to 1.57 ETH, Azuki up + 12.5% to 2.06 ETH, and Bored Apes up +8.6% to 11.29 ETH.
- A wallet with 400 ETH has been sweeping Bored Ape NFTs following a tease from Co-founder GordonGoner about the project’s 12-month roadmap.
- Pudgy Penguins Co-founder teases the biggest collaboration the project has seen to
date.
- Tickets for the BAYC ApeFest in Las Vegas are now claimable for Bored Ape and Mutant Ape NFT
holders.
- Azuki released another Telegram sticker collection, selling out 2,121 NFTs for
$650K.
- A US judge tossed the NFT lawsuit against Dolce &
Gabbana.
- Good Vibes Club is teasing upcoming Telegram sticker NFTs.
- Refik Anadol revealed a major metadata update for his Biome Lumina NFT
collection.
- NFT sales are up +41.88% this week and hit a 21-week high at $135.26M.
- NFT sellers are up, while buyers fell, but an increase in transactions and average sale price helped drive higher sales volume.
- Trade profits came in at -$4.28M, the highest level in 6 weeks.
ETH NFT Composite - 594.62 (+4.15%)
SOL NFT Composite - 516.90 (+0.70%)
POL NFT Composite - 4.74 (+164.80%)
CAR NFT Composite
- 295.91 (-7.33%) Top Gainers 7d PENGU - $0.03298 (+115.5%)
XLM - $0.4566 (+76.3%)
ALGO - $0.2794 (+59.7%)
HBAR - $0.2296 (+43.6%)
SEI - $0.3533 (+39.9%)
Top Losers 7d
PI - $0.4387 (-3.9%)
BCH - $484.47 (-3.8%)
SKY - $0.07676
(-2.3%)
OKB - $47.28 (-1.5%)
FDUSD - $0.9865 (-1.2%) Virtuals Agents
CoinRaces
DAO
Date - July 15
Blockchain - Base
Token - $CRDAO
ModelGuard
Date - July 17 Blockchain - Base
Token - $GUARD VPAY
Date - July 18
Blockchain - Base
Token - $VPAY
Alliewai
Date - July 22
Blockchain - Base
Token - $AWAI TrueSight
Date - July 22
Blockchain - Base
Token - $$TRUE NFTs Mosciun
Date - July 15
Blockchain - Solana
Price - 2 SOL Thermal Punks Date - July 15
Blockchain - Base
Price - .007 ETH Low Language
Date - July 18
Blockchain - Ethereum
Price - .025 ETH Fragments of Order
Date - Aug 7
Blockchain - Ethereum
Price - .025 ETH |
Retrieval Augmented Generation (RAG) refers to the combination of information retrieval with language generation, done with the assistance of a Large Language Model (LLM) such as OpenAI, in order to enhance and guide the generation of accurate,
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