For the Love of the Game (Market Commentary) |
It’s getting very active in crypto again, both with a market rebound, and also big headlines breaking
nearly every day.
Yesterday Swift announced that they’re partnering with Consensys (the developer of Ethereum) to build a blockchain based settlement system for 24/7
payments. It’s major news, though crypto has grown to the point where we expect these types of announcements.
This is the cycle of true crypto mass adoption.
Still, it won’t happen without a fight and while the SEC is now turning into an ally of crypto, banks are back to fighting both proposed and even signed-into-law legislation.
Banks are now fighting back against stablecoin rewards that were already debated over (and passed) in the GENIUS Act, and are working to get them removed in the upcoming CLARITY Act. 
The fight rages on, but if you’re in crypto, you’re on the winning side. 
A new perpetual futures trading platform called Aster launched last week and exploded to a $15.52B FDV. - Plasma is a new layer 1 blockchain that competes with Tron and Ethereum by offering zero-fee stablecoin transfers and over 1,000 TPS.
- Backers of Plasma include Tether CEO Paolo Ardoino and PayPal co-founder Peter Thiel.
- 10% of the token supply was dropped to early investors and saw users who deposited just $10 realize
over $10k in returns.
- XPL rocketed to over 16B FDV hitting an ATH price of $1.67.
- The chain is soon launching a neobank called Plasma
One and will offer a card for spending stablecoins along with 4% cash back and over 10% yield.
South Park Does Prediction Markets
Last week, prediction markets went mainstream again when South Park dedicated an entire episode to crypto-native betting platforms. - Aired on Sept 24, South Park’s newest episode called Conflict of Interest featured both Kalshi and Polymarket.
- The Kalshi platform hit over $2B in volume this month and is on pace to double their previous
best month.
- Total weekly prediction market transactions hit an ATH of 4.2 million last week, overtaking its previous peak
during the election cycle last year.
- Polymarket is teasing a new US mobile app after progress on regulatory clarity coming from the CFTC and SEC.
- Emerging prediction market PredictBase soared to multiple monthly ATHs including active wallets (407), returning wallets (149), and transactions (8,190).
- The Limitless prediction market on Base launched a token presale on Kaito, seeking to raise $1M. It is now
oversubscribed to $81.46M and is the highest ever sale on Kaito.
Hypurr NFTs Feel Like 2021 
The Perp DEX wars are heating up between Aster, Hyperliquid, Lighter and others, but a major NFT drop by Hyperliquid may be traders’ biggest win. - Hyperliquid airdropped 4,600 Hypurr NFTs on the HyperEVM chain to its top 5k traders for free.
- The collection’s floor price climbed to over $65K with over $45M in sales volume in just 1
day.
- Hypurr #1 sold for $90K and within 12 hours was flipped again for
$230K and then $470K.
- Traders are speculating that NFT ownership could lead to fee discounts on Hyperliquid, access to new platform features, and more airdrops.
NFT Strategy Tokens Bringing NFTs Back? 
After the success of the PunkStrategy token, the TokenWorks team has started launching 7 new strategy tokens along with a new feature to allow anyone to create a token.. - TokenWorks announced a new SquiggleStrategy, ToadzStrategy, GoblinStrategy, ChecksStrategy,
MaxPainStrategy, GoodVibesStrategy, and MiladyStrategy.
- Across the board, NFT collection floor prices have pumped ahead of their Strategy token announcement, with GVC running from a .25 ETH floor to .51 ETH, Milady from 1.6 ETH to 2.1 ETH, Moonbirds from 2.6 ETH to 3.1 ETH, and GoblinTown from .06 ETH to .16 ETH.
- 1% of trading fees from each token flow back to the PunkStrategy token for the purchase of new CryptoPunks NFTs.
- Documentation has been released so anyone can launch a new Strategy token using the same
framework.
- A trader exploited the SquiggleStrategy token over the weekend and was able to swap Chromie
Squiggle NFTs for other ArtBlocks NFTs (on the same minting contract), which briefly caused all Strategy token prices to crash.
The AI market is up 27.36% in the past 7 days to a $16.95B market cap. Top token movers include IRC (+851.6%), COPY (+181.5%), WIRE (+104%), AGIALPHA (-75.81%), and BAMBOO (-70.06%). - Virtuals announced that they are ending their Virtuals Genesis platform including their points
system and presale rules. It will be replaced by a brand new token launchpad.
- Coinbase announced the launch of the x402 Foundation with Cloudflare, creating governance to
the new x402 agentic payment protocol.
- PredictBase launched new 24 hour polls for their prediction market
platform.
- WachAI released their new token staking platform with 80M in token
rewards.
- Symphony kicked off an agent trading competition with $15K in prize money up for
grabs.
- The Ask Caesar agent is now live in the Virtuals ACP and accessible through
Butler.
- Dr Emma Sage has received a grant from the Base ecosystem to continue building their AI
counselor.
Top NFT sales over the past 7d include Hypurr #1 which sold for 9,999 HYPE ($450K), CryptoPunk #2408 for 49 ETH ($204K), 27 CryptoPunks sales over 43.5 ETH ($166K). Boogle #13 for 850.71 SOL ($171K), Pudgy Pengiun #4039 for 32.32 ETH ($127K), and Moonbird #4835 for 27.9 ETH ($111K). - Rekt Brands reveals new Rekt Energy drink, with details about how it will launch coming
soon.
- Froot Loops x Doodles special edition box drops this Wednesday at 10am ET in limited supply with 10% of
physical boxes containing a hand-drawn concept sketch.
- OpenSea partners with Beezie to launch a digital claw machine with $100K in tokenized Pokemon cards and
more, all gated by NFT vouchers.
- Leaked messages from Bitcoin dev Luke Dashjr reveal goal of pushing a Bitcoin hard fork to censor
Ordinals and Runes.
- Moonbirds IP is now on Story Protocol via an AI tool on Verse Eight. Users can now create Moonbirds
content and build games, and can create merch with ABLO.
- The NFT market bounced back to a 5 week high with $126.05M in sales.
- Sellers, buyers, and txns all declined, but were offset by average NFT sales prices climbing 46.17% to $80.57.
- Trade profits fell to a 12 week low of -$8.18M.
ETH NFT Composite - 632.69 (+1.60%)
SOL NFT Composite - 515.69 (-2.56%)
POL NFT Composite - 3.29 (-2.08%)
CAR NFT Composite -
200.32 (-9.77%) Top Gainers 7d MYX - $15.98 (+56.1%)
QNT - $102.08 (+10.9%)
FLR - $0.02527 (+5.8%)
OKB - $186.50 (+2.4%)
XAUT - $3,847.22 (+2.2%)
Top Losers 7d
IP - $8.52 (-32.6%)
HASH - $0.03708 (-15.1%)
ASTER - $1.66
(-15.1%)
AVAX - $29.30 (-14.5%)
NEAR - $2.60 (-13.6%) |
Transformer Model A neural network architecture used in deep learning that learns context by tracking relationships in data. Instead of analyzing information step by step (like one word at a time),
transformers can look at the entire sequence at once—whether it’s a sentence, a paragraph, or even parts of an image—and understand how everything fits together. This design is what powers most modern AI models, including the ones driving breakthroughs in language and image generation. Received this from a friend? Sign
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