gm - November 2nd, 2022

gm 👋

Bitcoin is relaxed at $20.4k, barely moving in the past 24hrs on $33B of volume. Ethereum is softer to $1560 on $17B of volumes. An unexpected name pops up as a victim of a $28M hot wallet hack — Deribit, the centralized crypto options exchange. Galaxy is laying off 20% of its workforce in an attempt to pull back on its burn rate as crypto winter starts to kick in.

NFT volumes stay elevated, thanks mostly to Art Gobblers which posted $17M in turnover over the past 24 hours (some residue from yesterday is captured). There are about $30M in total volumes across all chains, with ETH-NFTs at $28M, and Solana-NFTs at $800k. Bored Ape Yacht Club hit $1.5M in volumes on 13 trades, while CryptoPunks is right behind with $1.2M. Gods Unchained unusually doesn’t make it into the charts today. The drama still continues from the Art Gobblers mint, where lots of the minters were influencers, and many prominent NFT collectors/traders saying they don’t know anyone who has bought in the secondary markets, suggesting wash trading or market-making (allegedly).

Snapshot of Blue-Chip NFTs

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NFT headlines:

Stepn Parent Company Launches NFT Marketplace


‘Rick & Morty’ Creator’s Art Gobblers Renew Debate Over NFT Influencer Ethics

Visa Warms Up Fans With NFT Auction Ahead of Soccer World Cup in Qatar

MetaMask rolls out NFT portfolio value tracker with new partnership

Nouns pushed a new product that allows anyone to create a DAO

The Shift to Optional NFT Royalties (required subscription)


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