For the Love of the Game

Builders build, no matter the market conditions, and this week is no exception for the CryptoSlam team.

- Yesterday we officially launched our SLAMai API platform, allowing developers and agents to use WalletDNA and SLAMai data to power the next generation of onchain tools.
 

- We also put the spotlight on a SLAM Nation team that is building an AI agent called Dr Emma Sage. This team is using WalletDNA to target their high conviction token holders in their upcoming token airdrop.

- It was a stacked lineup for The Swarm Report daily show all week long. Viewers kept their finger on the pulse of crypto with our market reports, then heard from the week’s hottest Virtuals launch, Jeff CEO, along with SLAM Nation builders Tatum. 

You can catch The Swarm Report M-F at 9am ET here.

If you want to appear on the show and tap into SLAMai data, come join us in SLAM Nation today! Join here. 
 

Now let’s dive into the top stories and market moves from the past week.
 

Noteworthy Happenings

Extreme Fear

The crypto market just saw its first red October in 7 years, and now November is off to an abysmal start with Bitcoin falling below $100K for the first time since May. Is the cycle over, or is it coiling up for one final run?

• Jim Cramer says that we’re officially in a bear market after Bitcoin finished October red for the first time in 7 years.

• Analysts have competing thoughts on why we’re seeing the market downturn including a major increase in leveraged positions being wiped out, and market manipulation.

• The government shutdown has led to the US Treasury General Account holding over $924B in funds that are cutoff from the market.

• Bitcoin is close to locking in a weekly cycle low corresponding with the Fear Greed index falling to a multi-month low. Previous cycles saw a major rebound following this moment.

Massive MetaMask Rewards

After years of waiting, MetaMask has revealed the mechanics of its first ever rewards program.

• MetaMask is kicking off Season 1 farming with $30M in $LINEA token rewards.

• Traders will need to use the mobile MetaMask app to register for rewards, but will soon be able to use the browser extension.

• Trading, swapping, bridging, and referring new users will earn traders points.

• Season 1 lasts for 90 days, and will be followed up with additional seasons.

• Team members have clarified that the MetaMask rewards are separate from the $MASK token airdrop.

Peep the charts

AI

The AI market is down -4.86% in the past 7 days to a $7.3B market cap. Top token movers include AIC (-53.13%), FARTCOIN (-38.39%) TIBBIR (-32.74%), UB (-21.01%), and TURBO (-27.25%).

• Tom Lee joined Virtuals co-founder Ethermage on a fundstrat webinar to discuss Virtuals Protocol.

• Pudgy Penguins and Virtuals announced a partnership that allows Pudgy themed video and image creation powered by Virtuals’ Butler agent.

• Vader reveals updated token utility along with EgoPlay V2 release for capturing robotic data.

• Mute Swap and VPay announce partnership to build a private neobank.

•  CreatorBid opens agent token buying to all traders, removing the 2,500 $BID requirement.

• Treasure reveals new AI project on Base that brings AI agent creators.

• Amazon announces $38B partnership deal with OpenAI.

NFTs

• NFT sales fell -32.44% to $91.789M, with buyers falling -8.99%, average sales price -27.19%, and trade profits -40.91% to -$8.61M. The only metric that saw an increase on the week was sellers, which climbed 9.31%.

• Yuga Labs sold out their Boximus NFT avatars in partnership with Amazon, with huge demand triggering anti-bot mechanics.

• Rekt Brands launches the first ERC20 strategy token on Token.Works targeting the $REKT token.

• The Otherside metaverse officially opens its doors on the persistent metaverse on November 12.

• CryptoDickbutts announce that the community along with Adam Weitsman have taken control of the project.

• SupDucks dropped a cryptic post hinting at something coming in “Toadvember”. Speculation is swirling around a strategy token or new NFT collection.

ETH NFT Composite - 502.34 (-12.12%)
SOL NFT Composite - 385.19 (-8.34%)
POL NFT Composite - 1.44 (-54.57%)
CAR NFT Composite - 167.34 (-7.27%)

Crypto

Top Gainers 7d

DASH - $103.13 (+111.5%)
ICP - $5.01 (+62.7%)
ZEC -  $466.40 (+37.0%)
WBT - $52.52 (+23.7%)
M - $2.48 (+6.4%)

Top Losers 7d
ENA - $0.327 (-28.1%)
IP - $3.62 (-27.2%)
HASH - $0.02514 (-24.9%)

WLFI - $0.1174 (-24.4%)
OKB - $123.75 (-24.3%)

News Headlines

• YouTube will begin banning some crypto and NFT content beginning Nov 7.
• Kalshi prediction market has its best month on record with over $4.4B in volume.
• An exploit on Balancer racks up over $116M in stolen funds.
• MegaETH reveals their methodology for choosing presale winners ahead of $1.3B refund.
• Ripple launches digital asset spot prime brokerage services in the US.
• Monad mainnet launch will arrive on November 24.
• Steak ‘n Shake announces the creation of a Strategic Bitcoin Reserve.
• The European Central Bank accelerates plans for the digital Euro CBDC.
• DOG rune founder teases new platform on Bitcoin called Zap.