📈 Memecoins Rebound Swiftly As Crypto Majors Recover
Plus PoliFi heats up ahead of Thursday's Presidential debate.
TylerD's Market Summary
GM!
Today's top news:
Crypto majors rebound, SOL leads +9% to $138
Memes rally hard; MOG, POPCAT, MICHI lead
Trump in talks to speak at BTC Nashville
Blast debuts the Blast Foundation to achieve Blast Vision
Truth launches Portals product to enable NFT bridging
📈 The Memes Aren't Dead Yet
Many victory lapped the "death of memecoins" during the last few weeks of big draw downs.
Leaders like WIF fell nearly 70% from ATH during the past weeks and months, and things were looking dire.
But calls for their death seem to be premature.
What Happened?
Crypto alts and memes showed a major rebound overnight after Bitcoin dominance fell majorly.
Solana led the rally, jumping 9%.
And its memes absolutely cooked on the day.
Notable winners on the day:
PEPE +13% to $4.97B (ETH)
WIF +23% to $1.91B
MOG +39% to $520M (ETH)
POPCAT +71% to $426M
MICHI +61% to $78M
MOTHER +28% to $71M
BILLY +38% to $63M
PoliFi was hot as well.
Daily gains from the PoliFi majors:
TRUMP +25% to $405M
MAGA +15% to $125M
boden +40% to $97M
tremp +20% to $67M
It was a very green day.
Why It Matters
This new memecoin sector of crypto is still in relatively early stages, and many expect it to fail.
Strong rebounds in the meme majors show resilience and inspire confidence in the rest of this sector.
And with new pump dot fun competitors now being launched (see Moonshot from Dexscreener), it doesn't appear we will be seeing a shortage of new options to choose from.
The question that stems from the pump dot fun craze is - can any majors make it in this new paradigm (1M tokens launched in the past 3-4 months) or will liquidity be too sparse to support them all.
We are seeign early signs that the "majors" will be just fine.
Oh, and as for PoliFi - the first U.S. Presidential debate is coming this Thursday at 9 pm ET.
So expect some major action in that sector in the days to come.
The memes are still very much alive, despite reports of their death.
🚚 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 $5.3M (+25%) on the day; Polygon was next with $4.1M and then BTC & SOL with $2.4M & $1.7M
ETH NFT leaders were mixed; BAYC -1% to 8.9 ETH, Pudgy -2% to 8.76 ETH, Milady +1% to 5.4, MAYC +1% to 1.47
CryptoPunks saw a whopping 250 ETH sale on a Hoodie Punk (floor held at 26.6 ETH)
Checks and Valhalla were top movers on the day, jumping 30-40% each
BTC NFT leaders saw a slight rebound; NodeMonkes +1% at 0.16 BTC, Puppets +5% at 0.105 BTC, OMB -9% at 0.178 and Quantum Cats +2% at 0.244
Magic Eden introduced Mempool Protection to help avoid sniping on Ordinals during the buy process
The Runes leaders were very green with DOG +12% at $580M mc, RSIC +7% at $115M, and BILLION +54% at $50M
Solana NFTs chopped on the day; Mad Lads even at 66 SOL, SMB Gen 2 even at 26, DeGods even at 21
Truth unveiled its "Portals", allowing its community (and other NFT collections) to bridge NFTs to other chains like Arbitrum, Base, or Blast
Dr Disrespect was terminated from Midnight Society, leading to their Founder Passes falling 75% to 0.03 ETH on secondary
The VanEck US account is now repping a Pudgy Penguin as its PFP on X
Registration for Art Blocks Marfa weekend is now open, taking place Nov 14-17
💰 Token, Airdrop & Protocol Tracker
Here's a rundown of major token or airdrop news from the day:
Blast introduced the Blast Foundation, created to help achieve the "Blast Vision" and managed until now by Blast development company Arcade Research; wmore details coming June 26
Pacmoon has partnered with Mocaverse for “PACMOCAVERSE” where creators can earn both $MOCA and $PAC simply by creating content about the new
Wasabi distributed its last round of Blast Gold pre-TGE including a bonus for Blastin Pepes and bPEPE holders
NFTfi's airdrop for Earn Season 3 went live for claiming yesterday, and eligible users have 42 days to claim
Rabby announced its Season 2 Points claim will end on June 30
🌎 Around Crypto and Web3
A few other Crypto and Web3 headlines that caught my eye:
Crypto majors are green this morning as Solana leads; BTC +0.5% at $61,320; ETH +2% at $3,380, SOL +9% at $138
Memecoin majors are very green with DOGE +5%, PEPE +12%, WIF +23%, BONK +18%
MOG ripped 35% overnight to $520M mc and nearing a new ATH
Jupiter launched Jupiter Swap V3 featuring instant routing, dynamic slippage, smart token search, and more
Donald Trump is in talks to attend and speak at Bitcoin Nashville coming this July, according to Axios
Binance Labs announced an investment in Infrared, a protocol tied Berachain's Proof-of-Liquidity.
🚀 Memecoin Movers
$POPCAT (+71%, $420M market cap, SOL)
$MICHI (+60%, $78M market cap, SOL)
$boden (+40%, $97M market cap, SOL)
$MOG (+38%, $520M market cap, ETH)
$BILLY (+38%, $63M market cap, Solana)
📈 NFT Floor Price Increase (ETH)
Grapes (67%, 0.09 ETH Floor)
Checks Originals (43%, 0.15 ETH)
Farmers (33%, 0.05 ETH)
Valhalla (31%, 0.09 ETH)
Genuine Undead (20%, 0.05 ETH)
🗓 Upcoming NFT Mints and Reveals
Today is a busier day of mints, spanning PFPs, art and memecoin announcements.
The highlight today is likely the TURBO partnership announcement. With TURBO sitting over $400M mc, whatever news comes today is likely going to send the token strongly - in 1 direction or another.
See the full list and dive in for more details with Swizzy's daily mint monitor.
Blast Cats (6:00 a.m. ET)
OrdiNoLs (11:00 a.m. ET)
ChrisCoCreated x Prohibition - Onchain Summer (12:00 p.m. ET)
Mickalene Thomas x Avant Arte (1:00 p.m. ET)
TURBO partnership announcement (TBD)
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