NiftyNoon: Memecoin and NFT Liquidity Fade into the Ether
Although memecoin season seems to have slowed down considerably, the leaving liquidity has not come to NFTs in any meaningful way (May 12, 2023)
Nifty Thought
The market has been relatively steady with a general negative trend. As NFT prices continue to grind down, news is seemingly having less impact on price action. Some exceptions exist, such as Elon Musk's tweet of a meme containing a Milady, but these moves are typically short lived. Liquidity has also seemed to move away from memecoins. However, it has not flowed into NFTs or even blue chip crypto assets. There has been a broader move away from crypto as prices for ETH and BTC have slowly fallen.
While long run prospects for projects and crypto overall remains unchanged, it is clear the bear market has progressed to a state of general apathy. This is typical for cryptocurrency and could represent the start of a true lull until a new catalyst enters to re-invigorate excitement. In the meantime, it may be worth keeping an eye on new developments that could generate internal excitement such as BRC-20 and ZK-EVM.
Highlighted News
Yuga Labs CEO, Daniel Alegre, purchases BAYC #3575:
https://twitter.com/dalegre/status/1656389095504109568?s=46&t=Hb-nBT0zonE82bFfQEj7Cg
Blur announces important bidding changes coming this week:
https://twitter.com/blur_io/status/1656490213076779008?s=46&t=Hb-nBT0zonE82bFfQEj7Cg
Coinbase CEO, Paul Grewal, apologizes for calling $ PEPE a hate symbol, mentioning they did not provide a “complete history of the meme”:
https://twitter.com/iampaulgrewal/status/1656688561742131201?s=46&t=Hb-nBT0zonE82bFfQEj7Cg
Project and Community News
Moonbirds announce partnership with Spotify for their exclusive pilot bringing token-enabled features to their platform:
https://twitter.com/moonbirds/status/1656711516073390081?s=20
Apecoin Council Member addresses the issue at Paraspace which has put significant financial hardship on users, with 425 BAYCs, 970 MAYCs, 541 BAKCs and 10m $ APE on the platform:
https://twitter.com/boredapeg/status/1656690562358194177?s=46&t=Hb-nBT0zonE82bFfQEj7Cg
Magic Eden announce that Dialect (@saydialect) now has Buy Now from Magic Eden via Smart Messages:
https://twitter.com/magiceden/status/1656730939165114388?s=46&t=Hb-nBT0zonE82bFfQEj7Cg
Cool Cats announce Journey 6 Rewards, with holders who joined their last Journey, being airdropped Aurorium to their wallet:
https://twitter.com/coolcats/status/1656758293388304384?s=46&t=Hb-nBT0zonE82bFfQEj7Cg
Community discuss Yuga Labs CEO Daniel Alegre ape purchase on Blur with the seller paying the minimum royalty:
https://twitter.com/economist/status/1656671082508845064?s=46&t=Hb-nBT0zonE82bFfQEj7Cg
LooksRare app beta now available on iOS (TestFlight) and Android:
https://twitter.com/looksrare/status/1656345434145660928?s=46&t=Hb-nBT0zonE82bFfQEj7Cg
Erick @EB7 shares he has aped into BAYC #811:
https://twitter.com/eb7/status/1656419812740923396?s=46&t=Hb-nBT0zonE82bFfQEj7Cg
Judge rules that BlockFi users gave up legal rights to their BTC by using the platform and all the $300 million of crypto deposits are now property of BlockFi:
https://twitter.com/bitcoinmagazine/status/1656706653801136132?s=46&t=UaspT6BtBNhPInociztoIA
Alpha Centauri Kid shares deep appreciation for everyone who supported Broken Keys Order of The Muse collection:
https://twitter.com/lphacentaurikid/status/1656653659185336321?s=46&t=Hb-nBT0zonE82bFfQEj7Cg
Alpha Centauri Kid 'The Broken Keys' auction has sold for a total of 731.2 ETH ($1.36M):
Hideki Tsukamoto announces latest generative collection 'MONUMENT':
https://twitter.com/TsukamotoHideki/status/1656581330824511489
Art Blocks sales over the past 24 hours: Fidenza: 80k USDC (43.7 ETH), Fuzzy Squiggle: 9.2 WETH, Archetype: 9.1 WETH, Meridian: 5.5 WETH:
https://twitter.com/punk9059/status/1656638077677486080?s=46&t=Hb-nBT0zonE82bFfQEj7Cg
Quick Stats:
OpenSea Daily Volume: 2,643 ETH (▼ 43.76%)
Blur Daily Volume: 8,797 ETH (▼ 39.42%)
BTC: $26345.36 (▼3.96%)
ETH: $1764.09(▼3.23%)
Solana: $0.84 (▼1.72%)
Polygon: $20.22 (▼1.68%)
NFT Daily Winners:
🌈 Doodles: 2.49 ETH (▲7.37%)
🦧 Bored Ape Yacht Club: 44.00 ETH (▲3.99%)
🦉 Moonbirds: 2.06 ETH (▲2.3%)
🚬 CryptoPunks: 48.39 ETH (▲0.83%)
🥃 Proof Collective: 6.03 ETH (▲0.5%)
🏳️🌈 Chromie Squiggles: 9.24 ETH (►0.00%)
🐈⬛ VeeFriends: 2.33 ETH (►0.00%)
🧝🏼♀️ DigiDaigaku: 3.04 ETH (►0.00%)
NFT Daily Losers:
🧬 Clone X: 2.83 ETH (▼0.76%)
⛩️ Azuki: 13.29 ETH (▼2.23%)
🧟 Mutant Ape Yacht Club: 9.35 ETH (▼2.4%)
🏴☠️ Captainz: 6.90 ETH (▼4.17%)
🐧 Pudgy Penguins: 4.12 ETH (▼4.19%)
🥔 Potatoz: 2.69 ETH (▼6.6%)
Notes:
If you find quick daily NFT updates helpful, please feel free to subscribe:
The content on this site is for informational purposes only. You should not construe any such information or other material as legal, tax, investment, financial, or other advice.
Managed by @AxuETH, @NPapaellinas, @SharkFragile, @SpeedyGonzale87, @SSPxLEO and @xhuewa