For the Love of the Game (Market Commentary) |
We’re rounding the corner towards the end of September, and soon we’ll find out if we live up to the
month’s reputation of being bad for your Bitcoin bags. But even with major market volatility, we’re continuing to see signs that a special moment is on the horizon.
Just today, we learned that the SEC will create new rules to allow companies to launch crypto products without needing to comply with previous regulatory requirements.
They’re calling it an “innovation exemption”, and it might lead to the biggest period of creative building we’ve seen in crypto to date. Now more than ever, it’s time to stay locked in, because an explosive moment is coming when you least expect it. Aster is CZ’s answer to Hyperliquid A new perpetual futures trading platform called Aster launched last week and exploded to a $15.52B FDV. - Aster is a multi-chain DEX that is backed by YZi Labs, an investment firm led by CZ from Binance.
- The Hyperliquid competitor saw massive investment from top traders in crypto, including from Mr Beast, who invested $114K into ASTER.
- The platform offers one-click trading, MEV-free trading with up to 100x leverage, hidden orders, and 24/7 perps.
- To date, the platform has seen over $27B in total perps trading volume, $1.61B in TVL, and has 2 million users.
The Microstrategy Thesis Applied to NFTs After a PNKSTR token was launched with mechanics that flip
CryptoPunks NFTs, and then burn PNKSTR tokens, 5 new strategy tokens have been launched for Bored Apes, Meebits, Pudgy Penguins, Moonbirds, and CryptoDickbutts. - The strategy tokens have become an interesting bit of game theory mixed with fractional NFT ownership
via a token that can never truly go to 0.
- When buying or selling the strategy tokens, the token team accumulates fees, which are used to buy a floor NFT. The NFT is then listed at 1.2x the floor of the collection, and the sale proceeds are used to buy and burn tokens.
- Each strategy token is launched with a 95% fee to dissuade snipers from scooping up big chunks of supply, and drops to 10% after 95 minutes.
- Some NFT traders have found ways to exploit the new mechanic by listing NFTs well above the floor,
and then triggering the token’s buy mechanic to purchase their NFT.
Airdrop Season Approaches and MetaMask Wants In Massive airdrops are on the horizon and expected to hit this year, including OpenSea, Polymarket, Abstract, Meteora, PumpFun, Base, and now MetaMask. - In a surprise announcement on Thursday, Consensys CEO Joe Lubin said that a MetaMask token is coming
and would arrive sooner than you would expect.
- The MetaMask token will likely use the ticker MASK, and traders are speculating that it will arrive in Q4 as an airdrop/claim for those who use the in-wallet token swap feature.
- MetaMask has over 30 million users, and will likely bring many traders who left crypto back to the blockchain to check for their token allocation.
- Lubin pointed to the Linea L2 (incubated by Consensys) as a template for the MASK launch, highlighting that the team kept only 15% of the token supply.
Aerodrome on Base Takes Flight The Aerodrome DEX on Base hosted its first community-first token launch and became the #1 revenue-generating protocol for the week. - Syndicate launched their SYND token on Aerodrome and attracted $215M in veAERO (staked AERO), voting power, which seeded a SYND/WETH liquidity pool.
- 18.68% of Aerodrome’s votes went to SYND, giving 875K AERO emissions to the LPs.
- The launch took place on Sept 17 and over the first 24 hours saw the token surge to a $1.13B FDV.
- Voters earned roughly $15 - 20M in SYND tokens from the 10 million tokens distributed as voting
incentives.
Crypto Scams Found a New Low (and the Community, a New High) A new scam hit the PumpFun streams this weekend, and saw a young man who is battling cancer get his creator fees drained. - This weekend, a streamer named rastaland was tricked into downloading and running a malicious game from Steam called BlockBlaster during his live stream.
- The installed game file finds stored wallet private keys and then drains funds. In this case, rastaland’s $32k in fees were stolen, and hundreds of other people have been impacted.
- rastaland was working to raise $80k to fund treatments for his stage 4 cancer.
- The crypto community rallied behind the streamer. Alex Becker donated $32,500 to rastaland, Jakey, Easy, and multiple other crypto influencers have also reached out to make donations.
- Crypto Twitter has identified the scammer and found him living in Miami. They are working to get him
reported (and possibly deported).
The AI market fell -1.26% in the past 7 days to a 13.31B market cap. Top token movers include TOSHI (+20.9%), AWE (+19.84%), FARTCOIN (-25.91%), REKT (-25.89%), and AIOT (-17.61%). - Virtuals has announced that major changes are coming to Virtuals Genesis again after seeing the
success of Aerodrome, and fading sentiment from the Virgen community.
- CreatorBid is hosting its first-ever Meet Our Builders event, where six teams will showcase live
demos of their projects and pitch them.
- Ringfence and ArAIstotle are teaming up to bring verified data to the privacy Passbook AI
ecosystem.
- AIxVC has integrated privy for easier user onboarding through social media accounts and
email.
- Vader revealed Orn, its robotics-ready dataset platform that is being developed by Monetize
AI.
- The GAME framework has some big updates, including smarter Butler searches, better wallet balance
recognition, TG alerts for failed jobs, and auto-regraduation logic for agents.
- PredictBase crossed $1M in total platform, along with $10K in rewards for prediction market
creators.
- Albania has introduced its first AI minister, and it has been revealed to be an AI
avatar.
A relatively flat week in the NFT market, but as we’re accustomed to seeing, big sales just won’t stop. The top NFT sales this week were BOOGLE x ANGELZ for 1,380 SOL ($324K), CryptoPunk #8521 for 55.48 ETH ($255K), CryptoPunk #2642 for 52.1 ETH ($239K), and XCOPY The DOOMED for 40.5 ETH ($183K). In total, 21 of the top 22 NFT sales this week were CryptoPunks. - Jack Butcher’s Gas Wars minted out in under two minutes at $499 per edition, and climbed to a .8 ETH
floor on secondary.
- Plush Pepes on TON continue to be one of the hottest NFTs across any chain. On Sunday, we saw Plush Pepe #1709 sell for 31,500 TON ($94K).
- Meteora is now utilizing NFTs for its token airdrops. Now you’ll be airdropped an NFT that represents
a liquidity position which can be withdrawn from the LP to receive tokens + USDC, or left alone to receive fees.
- Rekt Drinks has officially sold 1 million drinks in under 11 months, crossing the threshold after
their latest Moonshot collab.
- Pudgy Penguins and PENGU were featured in the Q2 Bullish earnings report. Bullish is a digital
asset exchange that is listed on the NYSE.
- The NFT market fell below $100M in sales for just the 2nd time since July.
- Unique sellers hit a 7-week high at 202,311 while buyers hit a 5-week high of 234,886.
- Wash sales are up 185.90% to $19.94M thanks to traders farming OpenSea rewards.
ETH NFT Composite - 651.51 (-1.25%)
SOL NFT Composite - 522.76 (+1.18%)
POL NFT Composite - 3.39 (-0.29%)
CAR NFT Composite -
233.26 (-5.61%) Top Gainers 7d IP - $13.97 (+43.3%)
HASH - $0.0475 (+27.2%)
AVAX - $31.77 (+10.2%)
NEAR - $2.87 (+9.5%)
M - $2.72 (+8.5%)
Top Losers 7d
PUMP - $0.005853 (-25.7%)
PI - $0.2826 (-18.7%)
ENA - $0.5869
(-17.3%)
MYX - $9.40 (-13.0%)
BONK - $0.00002019 (-12.8%) |
A hyperparameter is a setting you choose before training a machine-learning model that governs how the learning process or model structure behaves, rather than values learned from data (those are parameters). Examples include
learning rate, batch size, number of layers/neurons, regularization strength, dropout rate, and tree depth. Hyperparameters shape bias–variance trade-offs and generalization, and are typically tuned with methods like grid search, random search, Bayesian optimization, or population-based search—often validated via cross-validation. Received this from a friend? Sign up for this CryptoSlam VIP newsletter. |
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