gm - August 9th, 2022

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Crypto markets stalled today and softened over the session as news made its way the US has sanctioned Tornado Cash and has put wallet addresses associated with the service on a blacklist. This was partly driven by the recent hacks by the North Korean group Lazarus, and their exits through the service mentioned above. Crypto Twitter is abuzz with arguments going both ways, some saying regulation is necessary while others argue this is an overreach of privacy — nonetheless, crypto always finds a way, and forked versions or more robust versions of scramblers will come in the future. BTC is off 6% to $23k on $28B of volumes, while ETH is below $1700 again to $1680 on higher $21B of volumes.

NFT volumes were $18M on the day, with EVM-based NFTs trading at $14M and Solana-based NFTs at $1.3M again. RarePepeYachtClub reached the top at $1.5M as the meme collection took hold of NFT Twitter today. Otherwise, BAYC posting a strong $1.5M day, and Moonbirds getting a high turnover of $1.4M but with cascading floor prices — last week's floor price was near 20 ETH, with it just barely hanging on to 15 ETH. Sorare was at $1.3M on the day.

Blue-Chip NFTs on the day

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NFT headlines:

Netflix’s attempt at Metaversing — The Greyman Metaverse Mission site

Cameo’s CEO fell victim to the latest Bored Ape NFT heist

Building Market Microstructure for NFTs

Mark Cuban Exposes The Crypto Market…

New NFT Privacy Proposal Gets Vitalik Buterin’s Attention

17 Celebrities Just Got Warning Letters About Shilling NFTs


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