gm - December 28th, 2022

gm 👋

Crypto markets are just a touch softer but overall trading on thin volumes. Bitcoin is down 50bps to $16.7k and Ethereum is just hanging on to $1200 on $4.5B of volume. Novogratz has stepped up to save Bitcoin miner Argo with a $100M bailout from Galaxy — $65M will go to buy Argo while $35M will be a loan to help with the restructuring. Michael Saylor has added another $45M worth of Bitcoin to their stash since early November at MicroStrategy, bringing the total to a $2.2B position. Lastly, the infamous crypto trader Avraham Eisenberg, who exploited DeFi protocol Mango Markets for $110M, was arrested in Puerto Rico for market manipulation.

NFT volumes look strong with close to $25M on the day. ETH-NFTs were $19M and Solana-NFTs were $3M. BAYC remains on top with a $3M turnover with 21 buyers, while Pudgy Penguins sneaks into second with the continued hype on Twitter — PP had a $1.7M turnover across 191 trades. Otherdeed, MAYC, and BAKC round out the top 5 with a combined $4M in volumes. Gumi has announced a deeper partnership with SBI and Square Enix on their pivot into the Metaverse, raising $53M into the JV.

Snapshot of Blue-Chip NFTs

Check out our Dune dashboard for details →


NFT headlines:

Top Solana NFT projects DeGods and y00ts to leave the blockchain and ‘explore new opportunities’

Pudgy Penguins NFTs Break All-Time Highs With Holiday Rally

The 5 Most Unforgettable NFTs of 2022

Upcoming Drops: December 26 — January 1

Polygon Sees Impressive User Numbers on Back of Trump NFT Drop

After 2022’s Crypto Crash, the Future Vision of NFTs Is Looking Far More Banal

Japanese Gaming Company Gumi Partners With Square Enix and SBI Holdings to Strengthen Metaverse Pivot