Coinbase Adds Apple Pay for Easier Onboarding
Plus the US Government is moving its Silk Road Bitcoin again spooking the market
TylerD's Market Summary
GM!
Today's top news:
Crypto majors chop, XRP jumps another 15%
US government moves $2B of Silk Road Bitcoin
Coinbase adds Apple Pay to Onramp service
MOODENG soars 100% on Coinbase listing
AIXBT hits new ATH at $300M after CHAOS token launch
💰 Coinbase Adds Apple Pay
The bull market is here.
And it's becoming easier than ever to convert cash into crypto, thanks to another major update from Coinbase.
What Happened?
Yesterday, Coinbase announced that its Onramp service now supports Apple Pay.
This integration enables seamless fiat-to-crypto purchases for assets like Bitcoin, Dogecoin, and over 100 other tokens.
Users can quickly fund wallets via Apple Pay with no KYC requirements, providing a streamlined onramping experience.
Core features of Onramp:
fiat-to-crypto conversions in seconds
"lightweight" KYC for eligible purchases
free USDC on and offramping
access to the most popular payment methods
Notably, other popular apps like Moonshot already utilize the feature, and now the Coinbase Onramp will be more widely available for other apps.
What Are They Saying?
Nemil Dalal (Coinbase): “Now in seconds instead of minutes, users can fund their wallets using one of the most widely used payment methods in the US.”
Coinbase Announcement: “With Apple Pay, we’re excited to offer an onramping experience that’s not only faster but accessible to over 60 million U.S. Apple Pay users, a number projected to grow to 67 million by 2026.”
Notable collector and investor DCInvestor commented:
Why It Matters
Coinbase’s integration of Apple Pay with its Onramp service simplifies crypto onboarding.
It simplifies for their users along with the users of all of the existing and upcoming apps which will use this service.
We are moving towards a future where more and more people will choose to hold wealth onchain, beyond just investments (Bitcoin) and speculation.
The infrastructure and products are being built, with updates rolling out by the week.
Slowly, then all at once...
🚚 What is happening in NFTs?
Here is the list of other notable headlines from the day in NFTs:
Ethereum led NFT trading volume with $23M on the day; Solana was next with $2.4M and then Bitcoin with $2.3M
ETH NFT leaders were mixed with Punks leading; Punks +5% at 44.5 ETH, BAYC -10% at 20.7, Pudgy +1% at 14.7 ETH, Milady -8% at 6.5
Fidenzas jumped another 50% to a 60 ETH floor and Winds of Yawanawa jumped 20% to 9.5 ETH leading art NFTs
Sugartown Oras (+100%), Fluf (+30%) and Band Bears (+20%) led notable top movers
BTC NFT leaders were mostly red; Bitcoin Puppets -2%, NodeMonkes -5%, OMB -5%, Quantum Cats -1%
The Runes leaders were mostly green; DOG +1% at $652M mc, PUPS +10% at $225M, BDC +6% at $100M, GIZMO even at $27M
RTFKT announced that it will be winding down web3 operations by Jan 2025 in a surprise statement on Monday
Yuga Labs acquired Token Proof's technology to help its holders unlock token utility
💰 Token, Airdrop & Protocol Tracker
Here's a rundown of major token, protocol and airdrop news from the day:
MYRIAD, the new prediction market from Rug Radio and Decrypt, is set to launch in public beta later this week
Portal launched a cross-chain crypto gaming discovery hub and wallet
Aave deposit rates for USDe hit 62% and 30% for USDC on Base
Ethena announced a partnership with onchain options protocol Derive
PondHub and Seraph each airdropped tokens to Virtuals users on Monday as part of their launch strategies (now $17M and $25M respectively)
🌎 Around Crypto and Web3
A few other Crypto and Web3 headlines that caught my eye:
Crypto majors are mixed with XRP leading; BTC even at $95,000, ETH +1% at $3,600, SOL even at $225, XRP +20% to $2.78
Several alts were up double digits including IOTA (+56%), HBAR (+48%), VET (+41%), ONDO (+40%), SAND (+27%) & MATIC (+26%)
Memecoin majors are mostly green; DOGE +2% at $0.416, SHIBA +2%, PEPE +1%, BONK +1%, WIF +4%, POPCAT +10%
Coinbase added MOODENG to its listing roadmap and the memecoin jumped 100% to $600M
AI Agent aixbt effectively launched a memecoin CHAOS which ran to $20M and helped propel aixbt to $298M and a new ATH
The US Government moved $2B of its Silk Road Bitcoin on Monday igniting concerns of sell pressure prior to Trump getting in office
Marathon Digital bought 6,000+ Bitcoin for $600M+ in cash at a $95k average price and plans additional raises to do more of the same; SOAR Ventures raised $150M to do similar
🚀 Memecoin Movers
$CHAOS (+17,000% to $17M market cap, BASE)
$MOODENG (+95% to $600M market cap, SOL)
$VADER (+80% to $48M market cap, Base / SOL)
$AIXBT (+70% to $298M market cap, Base / SOL)
$SAINT (+60% to $29M market cap, SOL)
📈 NFT Floor Price Increase (ETH)
CypherDudes (120%, 0.2 ETH Floor)
Sugartown Oras (100%, 0.09 ETH floor)
FLUF (32%, 0.41 ETH)
Band Bears (20%, 5.55 ETH)
Winds of Yawanawa (20%, 9.5 ETH)
🗓 Upcoming Mints and Events
Folks - my source for daily mints and events has shut down operations.
Given the general lack of interest in new mints on a daily basis, I'll be discontinuing this section of the newsletter, at least for now.
If I can find a good source for daily events, I will look at turning it back on.
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