Jupiter Wants The Whole World On Solana
Plus the ETF approvals seem closer than ever and the Trump campaign starts accepting crypto.
TylerD's Market Summary
GM!
Today's top news:
ETH ETF approvals imminent, crypto majors chop
Trump campaign starts accepting crypto, including Doge
Mocaverse shares tokenomics for $MOCA, NFTs soar
$PEW token wins 2 Blast Jackpots for 600k Gold
Jupiter kicks off Giant Unified Market initiative to bring world assets onchain
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🌏 Jupiter Announces Giant Unified Market Initiative
The ETH ETFs have been the big story this week as approval appears imminent.
And rightfully so.
But one team on Solana isn't conceding the spotlight to ETH.
What Happened?
Yesterday Jupiter announced that it's kicking off its "Giant Unified Market" initiative.
The goal of this initiative is to bring all the assets in the world onto Solana, spanning memecoins, RWAs, stocks, commodities and more.
To make that happen, they're launching The GUM Alliance to:
onboard more assets
create liquid markets
integrate these markets into Jupiter
The GUM Alliance is a group of the top partners Jupiter can find spanning assets, liquidity and distribution.
A few examples of GUM Alliance teams looking to drive this vision:
Dinari Global is bringing its dShares allowing trading of stocks like AAPL and COIN
Open Eden aims to be the tokenization partner offering 5% U.S. Treasury yields on chain.
Villcaso wants to bring real estate on chain
Wintermute will be a liquidity provider and market maker
Asymmetric looks to bring capital markets on chain
The list goes on.
It's a big vision and a giant effort - but this is what it will take to fulfill Jupiter's vision as the "everything exchange.”
Why It Matters
Bringing Real World Assets (RWAs) onchain and the broader tokenization trend is likely the biggest remaining ambition for the broader crypto space.
Right now Ethereum is leading the way with BlackRock planning to drive its tokenization efforts on ETH.
But this will be a massive effort and multiple chains and teams can win as we move towards bringing the whole world onchain.
Solana certainly has its advantages over ETH in speed and cost, and if it can win a chunk of the tokenization pie, it will be huge.
This is the "end game" narrative for crypto as I see it.
Once all of the biggest assets in the world can be traded on chain, houses bought, groceries paid for, etc. - there will be no need to sell crypto for fiat.
The foundation is getting laid now for this vision.
Kudos to those building for this future.
🚚 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 $7.5M on the day (-19%); BTC was next with $5.95M (+2%) and then Solana with $2.9M (-3%)
ETH NFT leaders were mostly red again on the day; BAYC +2% to 12.97 ETH, Pudgy -3% to 11.25, Azuki -9% at 4.5, Milady +2%$ to 5.6
Mocaverse was a top performer, jumping 47% to 3.95 ETH following a sneak peak into its $MOCA token airdrop
BTC NFT leaders were mostly red again; Puppets -5% at 0.16 BTC, NodeMonkes -20% at 0.23, OMB -2% at 0.337 and Quantum Cats at 0.325 (+10%)
DOG led Runes action on the day, jumping 18% to $357M; Runix pumped 56% to $38M
Solana NFTs saw some green on the day; Mad Lads +5% at 65 SOL, y00ts +20% to 6.6, DeGods +1% to 29.5
Blast NFTs were mixed; Apollo (+33%), Plutocats even, Blast Hoods +60% and Blastopians (-2%) were notable movers
Arsonic airdropped 50k Neon Vigilante NFTs to $PAC holders and others in the Blast ecosystem
💰 Token, Airdrop & Protocol Tracker
Here's a rundown of major token or airdrop news from the day:
The $MOCA airdrop distribution was released, including a 10% allocation to NFT holders (1/3 unlocked at TGE) plus ongoing incentives for holding $MOCA, the NFTs and Moca IDs
Farcaster raised $150M to grow its user base and developer tools, led by Paradigm and including a16z and others
ZkSync is reportedly planning its TGE for this week, with the airdrop coming June 13
$PEW hit the Blast Jackpot twice on Tuesday, for an 8% win and an 18% win returning 597k Blast Gold to holders
Wasabi crossed $100M in TVL, making it the 8th Blast protocol to hit that mark
🌎 Around Crypto and Web3
A few other Crypto and Web3 headlines that caught my eye:
Crypto majors are mixed this morning; BTC -1% at $70,220; ETH +0.6% at $3,740, SOL -1% at $181
Memecoin majors are green with DOGE +3%, PEPE +22% to $5.7B (new ATH), WIF +2%, BONK even; PEPE, TRUMP outperform
The SEC told exchanges on Monday that it's "leaning towards approving" the spot ETH ETFs, and 4 of the ETF issuers have submitted updated forms
The Bitcoin and ETH ETPs were approved for listing on the London Stock Exchange
The Trump Presidential campaign announced that it's formally accepting crypto, including memecoins like Doge and Shiba
Uniswap responded to the SEC's Wells Notice with a 40-page document - "In the Matter of Uniswap."
Phantom acquired bitski, a leading provider of embedded wallets with deep experience building dev-friendly web3 tools
🚀 Memecoin Movers
$HIGHER (+67%, $43M market cap, Base)
$ANDY (+31%, $80M market cap, ETH)
$BOBO (+18%, $100M market cap, ETH)
$ZACK (+20%, $58M market cap, Solana)
$TRUMP (+17%, $409M market cap, ETH)
📈 NFT Floor Price Increase (ETH)
Plooshies (53%, 0.29 ETH Floor)
Sproto Gremlins (50%, 0.57 ETH)
Mocaverse (44%, 3.94 ETH)
Rumble Kong League (27%, 0.21 ETH)
Pebbles (14%, 2.5 ETH)
🗓 Upcoming NFT Mints and Reveals
Today is a slower day of mints and events.
Sabet is doing a drop on Base called Minimals this morning.
Choen Lee is the Meme card artist.
And then Roope's "Vacation" sale will continue today after not selling out yesterday.
See the full list and dive in for more details with Swizzy's daily mint monitor.
Sabet - Minimals (9:00 a.m. ET)
Memes by 6529 (11:00 a.m. ET)
The Summoning (1:00 p.m. ET)
artemis - Inflection (1:00 p.m. ET)
Mintify - Flash Tournament 1 (4:00 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.