gm - September 2nd, 2023

gm 👋 Happy weekend! NFT volumes tick up again today, with Ethereum NFTs trading at $7.3M in total, Polygon at $1.5M, and Mythos at a whopping $1.4M. DMarket is the top collection, naturally being 100% of the volume on Mythos. MAYC prints $1.1M on the day, across 37 transactions with 27 buyers. DraftKings is third with $1M in turnover. The top sale on the day is a MAYC Mega Zombie going for a ludicrous $810k to Machi. The second largest appears to be a home in West Columbia, SC going for $204k as an NFT. Two CryptoPunks go for $143k and $165k. Quite a bit of action this weekend!

Cirrus reports an absolute degen has borrowed 642 ETH on Blur over the past couple of days with APRs of up to 1000%, and used those funds to sweep BAYC/MAYC/BAKC floors with 10x leverage. This explains why floor prices have been going up during the latter half of last week, though it's questionable whether this is sustainable without any follow-through. BAYC and MAYC are both only off -4% in the past 24 hours. Machi has also picked up a sizeable chunk of $APE this past week, though the token is still stuck, trading lower to $1.40 now.

A MAYC Mega Zombie traded for $810k - would you buy it?