📈 CryptoPunks Soar in Major Rebound Rally

Plus Tron memes are taking over the memecoin sector.

TylerD

Aug 21, 2024

TylerD's Market Summary

GM!

Today's top news:

Crypto majors dip as summer chop continues
Tron memes outperform; SUNDOG hits $240M
State Street partners with Tarus for tokenization plans, crypto custody
CrytoPunks soar to a 29.5 ETH floor after biggest day since November
Snowfro set to mint final Chromie Squiggle

🤯 Punks Jump 30% in Major Rebound

CryptoPunks have had a quiet summer.

And a red summer, with the floor falling briefly below $50,000 during the Yen carry trade crypto crash.

But now, Punks are getting louder - and green is back on the board.

Punks just had their best day in almost a year - will they be able to keep the momentum?

What Happened?

Yesterday, CryptoPunks saw 46 sales ($3.5M) which pushed the floor from 24 ETH to 29.5 ETH.

It's the most single-day sales since November 2023, eclipsing the best days of 2024.

The floor was 22.2 ETH just over 1 day ago, meaning Punks have rallied 35% in a virtual blink of an eye.

This rally seemingly came after Alien Punk 5822 apparently sold for 1,500 ETH (not confirmed) which would be the lowest Alien sale in 3 years, prior to the 2021 run.

Notable sales included:

53.5 ETH for an aesthetic Purple Cap
39 ETH for a Smiling Albino (notably flipped the same day from 32.95)
36 ETH for a Half Shaved female

Let's just say it was a good day.

And now momentum is building.

Why It Matters

Punk owners are showing back up on X, loud and proud.

Several notable holders have changed their PFPs back to Punks.

Almost like it's cool again (funny how that works when number goes up).

And that's a big deal, because it hasn't been that "cool" to buy a Punk in a long time. The Discord (which was THE place to be in May 2021) is a fraction of its prior self. There aren't that many loud, active Punks on the timeline anymore.

Perhaps that will change.

There's only about 75 Punks listed below 40 ETH. A rebound to that level would certainly get the market's attention.

Now it's in reach.

Maybe Summer '24 is when we Make Punks Great Again. Time will tell.

🚚 What else is happening in NFTs?

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

ETH led NFT trading volume with $7.9M on the day (70%); Solana was next with $2.6M, and then BTC with $1.2M; Punks saw $3.54M of that ETH volume
ETH NFT leaders were very green up 4-7%; Pudgy +4% at 9.5 ETH, BAYC +7% at 12.8 ETH, Azuki +1% at 4.55, Milady +6% at 3.97
CryptoPunks rallied 30% to an 29.5 ETH floor after their biggest day of sales in months
Mocaverse (+20%) and Forgotten Runes (+23%) were other notable top movers
BTC NFT leaders mostly chopped; NodeMonkes even at 0.127 BTC, Puppets -1% at 0.083 BTC, Quantum Cats -1% at 0.276
The Runes leaders were red; DOG +3% at $288M mc, RSIC -4% at $83M mc, PUPS -12% to $44M
Solana NFTs were mixed; Mad Lads -1% at 56 SOL, SMB Gen 2 -2% at 24, DeGods +5% at 31
Creature World is returning with "Creature Cubes" an ERC-404 dropping on Base
CyberKongz is partnering with adidas to launch a limited run of digital collectibles
Snowfro is set to mint the final Chromie Squiggle at 2:30 p.m. ET today, with the NFT going straight to LACMA

CyberKongz are the latest NFT project to partner with adidas

💰 Token, Airdrop & Protocol Tracker

Here's a rundown of major token or airdrop news from the day:

The Pacmoon team officially launched ARMY on Solana, opening at a $12M mc but falling to $7M overnight
MetaMask introduced a "Send and Swap" feature, allowing users to send crypto tokens in 1 currency and have their counterparty receive a different token
dumpy.fun went live in open beta, allowing anyone to short Solana memecoins
Kamino's SZN2 distribution went live for claim, automatically staked for claimers

MetaMask introduces new send and swap function

🌎 Around Crypto and Web3

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

Crypto majors are red down 2-3% this AM; BTC -2% at $59,500; ETH -2% at $2,580, SOL -3% at $142
Memecoin majors are also red with DOGE -1%, PEPE -3%, WIF -2%, BONK -3%, MOG -8%; TRON memes outperform
Simon's Cat raised $4.25M in memecoin presale, set to launch on BNB in partnership with Floke, DWF Labs and BNB chain
State Street announced a strategic partnership with Tarus to go deeper into tokenization and crypto asset custodianship
Binance Labs announced an investment in Corn, "a super yield network on Bitcoin," which raised a $6.7M seed round
Paradigm led a $7.5M seed round in Sorella Labs, which aims to build tools to solve Ethereum's MEV problem
Donald Trump re-flipped Kamala Harris on Polymarket on Tuesday, now leading 52-47, after rumors that RFK Jr. was dropping out of the race

Simon’s Cat raises $4.25M in presale for most hyped meme launch in months

🚀 Memecoin Movers

$MELLOW (+59%, $14M market cap, ETH)
$SUN (+52%, $180M market cap, TRON)
$SUNCAT (+30%, $20M market cap, TRON)
$SUNDOG (+26%, $240M market cap, TRON)
$MIGGLES (+12%, $37M market cap, Base)

📈 NFT Floor Price Increase (ETH)

Space Punks (265%, 0.09 ETH Floor)
Nobody (60%, 0.11 ETH)
Sword of Grandia (38%, 0.69 ETH)
Mounts of Seedworld (24%, 0.32 ETH)
Mocaverse (21%, 1.97 ETH)

🗓 Upcoming Mints and Events

Today is a busier day of mints, with Bitcoin leading the action.

A Bitcoin Puppets derivative is minting with PUP PETS and then artists Harto and FAR collab for Brutal Edge.

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

Memes by 6529 (11:00 a.m. ET)
Sabet - Yokai (12:00 p.m. ET)
Floor Icons - Series 4 Drop 5 (1:00 p.m. ET)
Pup - Pets (4:00 p.m. ET)
Harto x FAR - Brutal Edge (4:20 p.m. ET)

Enjoy this write-up and/or want to sponsor the Morning Minute? Follow along with me on Twitter @tyler_did_it or reach out via email to tyler.warner@luckytrader.com.