Real-Time Crypto Funding with Visa & Coinbase

Plus the Bitcoin ATH waiting room is open after it hit $73k yesterday on massive ETF inflows.

TylerD

Oct 30, 2024

TylerD's Market Summary

GM!

Today's top news:

BTC hits $73k on massive $870M in ETF inflows
Visa partners with Coinbase for real-time crypto funding
Kraken's L2 Ink gets $42M grant to launch on OP
Saturn introduces smart contracts on Bitcoin, does first AMM swap
Memeland introduced new MemePay product
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💰 Visa Partners with Coinbase for Real-Time Funding

Remember the days of funding your Coinbase account with a wire or ACH and waiting 7 days for the funds to clear?

It was painful.

Well now, those days may be behind us.

What Happened?

Coinbase has partnered with Visa to provide real-time fund transfers via Visa Direct.

This integration allows Coinbase users (in the US and Europe) with eligible Visa debit cards to instantly deposit funds into their accounts, purchase crypto, and withdraw money in real-time.

The new feature aims to offer flexibility in the fast-moving crypto market by minimizing delays in account funding and withdrawals.

This is quite the timely announcement, with Bitcoin hovering just below ATH (a time when "normies" typically look to enter).

What They’re Saying

Yanilsa Gonzalez Ore, Visa Direct’s Head of North America, highlighted the convenience of this feature, saying: "Providing real-time account funding using Visa Direct means Coinbase users can take advantage of trading opportunities day and night.”

Coinbase’s Akash Shah echoed this, emphasizing that the integration offers “control, security, and flexibility” to customers looking to move funds seamlessly.

Why It Matters

This is a big break through for those moving money in and out of crypto.

For traders, real-time funding means they can respond instantly to market shifts vs dealing with the legacy delays.

A more reliable on and offramp here with Visa Direct may also alleviate issues with banks shutting down accounts for crypto transfers.

And there is also the signal from Visa, a world-leader in payments, wanting to get deeper into crypto.

It's a win all around.

🚚 What else is happening in NFTs?

Here is the list of other notable headlines from the day in NFTs:

Ethereum led NFT trading volume with $4.3M on the day; Bitcoin was next with $2.1M, and then Solana with $1.7M
ETH NFT leaders were mostly red; Punks -3% at 25.7 ETH, Pudgy -1% at 8.85, BAYC -1% at 11.5, Milady -1% at 4.67, Azuki +2% at 4.9
Frank (+300%) and Peplicator (+50%) led top movers
BTC NFT leaders were also mostly red; NodeMonkes -5% at 0.137 BTC, Puppets -1% at 0.14 BTC, OMB -5% at 0.162, Quantum Cats +9% at 0.235
The Runes leaders saw red; DOG even at $470M mc, PUPS -7% at $162M, GIZMO -17% at $22M mc, BDC -5% at $88M
Casey Rodarmor shared new details around the MEMENTO MORI mint, sharing that Patreon subs would get 50% of the 100M supply airdropped and that another token BTC GASFEES TOKEN would help subsidize gas costs via another airdrop
Memeland introduced MemePay as a way to turn your memecoins into money, with more details coming soon

💰 Token, Airdrop & Protocol Tracker

Here's a rundown of major token, protocol and airdrop news from the day:

The Arena token went live Tuesday night, opening up at $75M fdv
Magic Eden opened up claims for its $TESTME token
Abstract Global Wallet showed off its Passkey feature, allowing users to unlock their mobile wallet via FaceID
Saturn introduced smart contract execution on Bitcoin, enabling the first trustless AMM swap on Tuesday
Rekt Drinks launch today, with every unit purchased giving the buyer 25,000 DRANK points
Matcha added support for Blast, enabling gasless, zero fee cross-chain swaps.

🌎 Around Crypto and Web3

A few other Crypto and Web3 headlines that caught my eye:

Crypto majors are mixed after a roller coaster day; BTC +1% at $72,150; ETH +2% at $2,660, SOL -3% at $176; MKR, MANTRA & SEI led top alt movers up 5-7%
Memecoin majors were mostly red; DOGE +1%, SHIBA -2%, PEPE -3%, WIF -3%, POPCAT -2%, and MOG -4%
IBIT saw $3.3B in BTC ETF volume on Tuesday, its highest in 6 months, as the broader ETFs saw a massive $870M in inflows on the day
Visa is partnering with Coinbase to use Visa Direct to fund Coinbase account and enable real-time cash outs
Consensys founder Joseph Lubin announced 20% layoffs for Consensys amidst regulatory uncertainty and broader macroeconomic conditions
DWF fired one of its partners Eugene Ng after allegations of drink spiking surfaced
Kraken's L2 Ink is launching on Optimism, at least partially due to a $42.5M grant (25M OP tokens)
A memecoin FRIDGE launched from a smart fridge at a local mall and ran to an $8M market cap
A Zachxbt mint on Zora did a near 3x in price action with its $243M Theft coin running to $10M

🚀 Memecoin Movers

$TEE (+830k% to $32M market cap, ETH)
$LUCE (+110% to $86M market cap, SOL)
$243M THEFT (+280% to $10M market cap, Base)
$PROJECT89 (+50% to $12M market cap, SOL)
$DEGENAI (+40% to $12M market cap, SOL)

📈 NFT Floor Price Increase (ETH)

frank (290%, 0.18 ETH Floor)
Peplicator (50%, 0.07 ETH)
Anonthology (45%, 0.09 ETH)
Porsche 911 (30%, 0.34 ETH)
Today (28%, 1.19 ETH)

🗓 Upcoming Mints and Events

Today is another very busy day of drops, spanning art, runes, PFPs and drinks.

OSF's rekt drinks are launching this morning, with buyers rewarded with 25k DRANK points per box.

Then there are a variety of art and PFP drops across chains.

See the full list and dive in for more details with Swizzy's daily mint monitor.

rekt drinks (10:00 a.m. ET)
Memes by 6529 (11:00 a.m. ET)
Experiment 9 (1:00 .m. ET)
ris x Verse - Bully (2:00 p.m. ET)

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