gm - December 26th, 2022

gm 👋

Little to no change to crypto markets on low volumes following Xmas day — Bitcoin sits flat at $16.8k and Ethereum at $1216. Another DeFi protocol bites the dust, this time Defrotst Finance as its TVL drops from $13M to $93k. Various security firms have pointed the finger back at the dev team, and the community is already calling this an exit scam/rug pull.

NFT volumes are around $15–16M, with ETH-NFTs at $11M and Solana-NFTs at $4M. DeGods announced they will be migrating over to Ethereum — calling it a ‘bridge’, they’re making the decision to try and keep interest up along with liquidity. DeGods had a pop in turnover as result with $1.3M and y00ts came in with $1M. Azuki is the top collection on the day with $1.8M in volume. Otherdeed also had $1.3M, with BAYC and MAYC a combined $1.5M across 550 trades in total.

Snapshot of Blue-Chip NFTs

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NFT headlines:

North Korean hackers stealing NFTs using nearly 500 phishing domains

Italy to create the crypto art Renaissance: NFT market report

Would You Buy an NFT From a Vending Machine? (Podcast)

Solana NFT projects abandon the network for Ethereum, DeGods and y00ts announce their departure

NFT Creators Looking for Royalties Face an Uphill Battle: Galaxy