💰 Michael Saylor Wants Another $500M of Bitcoin
Plus catch up on a huge day in the Blast ecosystem and a very busy day of headlines all around.
TylerD's Market Summary
GM!
Today's top news:
Saylor announces plans to buy $500M of BTC, price rebounds
Biden admin considering crypto for donations
Terraform agrees to pay SEC $4.5B in proposed judgement
Blast shares Gold Distro 5 details, Gold trades at $4.50 pre-market
Pudgy Penguins share Blueprint, laying out vision for ecosystem
🚀 Saylor Wants Another $500M of Bitcoin
Michael Saylor has never seen a Bitcoin dip he didn't like.
Bitcoin briefly rallied to $70,000 yesterday after a good CPI report, then "crashed" back to $67,200 overnight after relatively hawkish language from The Fed (rates higher for longer).
Then Saylor stepped in and stopped the bleeding.
What Happened?
This morning MicroStrategy announced plans to raise $500M to buy more Bitcoin.
They are doing it by offering $500M of convertible senior notes due 2032 with interest paid semi-annually.
MicroStrategy currently owns 214,400 BTC worth over $14B.
And they aren't stopping.
Market Impact
The BTC bleeding immediately stopped on the news.
BTC is already up nearly 1% off the bottom at $67,740.
Other majors haven't been impacted yet, still down 1% on the day.
And memecoins - well, maybe don't check those charts today.
💸 A Busy Day on Blast
The sprint to the Blast airdrop is on, and the pace of action is picking up.
Yesterday we got the details on the final Blast Gold Distribution.
TLDR:
10M Gold will be sent to Dapps in the 5th and final distro pre-airdrop on June 26
Thruster (1.5M), Fantasy (1.1M) and Juice (750k) were the top 3 recipientsÂ
Captain & Co, YOLO, Hyperlock, Wasabi and Wolf Game all getting 500k+
Blastr was considered a big winner, getting 250k gold. And D1 and CryptoValleys saw their allocations drop the most.
The other clear winner - Fantasy Top, which now has 2M+ Gold to give out over the next 2 weeks.
Which is worth ~$9M based on pre-market trading for Blast Gold, which went live yesterday on Pump Markets.
Blast Gold is trading at $4.50 currently though with just $50k in volume.
A bit disappointing based on early projections, which did impact the token market (several fell 10-20% including $PAC).
But that's not all.
What Else Is Happening?
Just yesterday:
Wolf Game announced a new "The Cash Grab" game with $100k in weekly prizes + more
A new Blast points multiplier announced for Lending
YOLO launched its $YOLO token, opening at a $15M mc ($60M fdv)
Latest presale $NOGOLD starts trading, falls sub-$100k mc then rallies to $650k
Overall it looks like the pace of action is picking up.
And expect things to get even crazier as we get deep into the final 2-week sprint.
Game on.
🚚 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 $6.1M on the day (+30%); Polygon was next with $3.7M (-4%) and then BTC with $3.6M and thenÂ
ETH NFT leaders were mostly red with BAYC -8% to 10.5 ETH and other leaders down 1-2%; Pudgy outperformed +2% at 10.95 and flipping Apes
Pirate Nation fell 23% to 0.75 ETH after its TGE ($PIRATE opens at $180M fdv)
Smowls and alignDRAW were notable outperformers on the day
BTC NFT leaders mixed on the day; Puppets -5.5% at 0.138 BTC, NodeMonkes +3% to 0.222, OMB -2% at 0.245 and Quantum Cats +1% at 0.29
The Runes board saw more green led by BAMK OF NAKAMOTO which jumped 83% to $350M after UTXO invested $1M; DOG +3.5% to $717M & RSIC +3%
Solana NFTs were mostly even; Mad Lads +1% at 66 SOL, SMB Gen 2 even at 22.5, DeGods even at 24.4
Blastin Pepes led Blast NFTs, jumping 10% to 0.1 ETH after Wasabi was rewarded with a large Blast Gold distro
Pudgy Penguins introduced a new "blueprint" showing all the plans for the growing ecosystem, notably including LayerZero (future airdrop?), a focus on Tech, Merch, Products, Licensing, Content & growth and more
Yuga's counterparty Faraway introduced a new set of digital land called Paradis, selling for $2-$20, playable in LoTM and HV-MTL
Beeple announced "PepeFest" for August 10 at Beeple Studios in Charleston
Parallel's game is now available in the Epic Games Store
💰 Token, Airdrop & Protocol Tracker
Here's a rundown of major token or airdrop news from the day:
Pirate Nation launched its $PIRATE token this AM, opening at a $180M FDV
Fantasy Top rolled out a small UI change now showing player tourney rewards live with their rank
MetaStreet announced its Yield Club is open for business, providing access to a "gamified phygital + DeFi experience" crafted for Onchain Summer & powered by 9dcc
Wolf Game announced "The Cash Grab" as a new competition with weekly prizes of $100k + 20% of Golden Box sales along with normal game rewards
Solana Labs introduced Bond, a new customer engagement platform offering a new blockchain-enabled way to target loyalty programs via digital collectibles, luxury good authenticity, digital passports + IDs, & collaborative campaigns
Layer3 has raised $15M in Series A funding ahead of a planned token launch and airdrop
🌎 Around Crypto and Web3
A few other Crypto and Web3 headlines that caught my eye:
Crypto majors are slightly red this morning after a positive CPI report but relatively hawkish FOMC; BTC -0.1% at $67,800; ETH -1% at $3,500, SOL -1% at $151
Memecoin majors are mostly red with DOGE +2%, PEPE -4%, WIF -5%, BONK -6%; ETH memes outperform
CRV falls 30% as founder's loans face liquidation
The Biden administration announced it's considering accepting crypto for political donationsÂ
GME stock tumbled 17% as reports circulated that Roaring Kitty sold some of his call options (not yet confirmed)
Iggy Azalea was live at the NYSE on Wednesday, hanging with Jim Cramer and touting her memecoin MOTHER (+15% to $180M)
A recent report showed that 4% of Turkey's GDP has gone to stablecoin purchases, giving Turkey by far the highest Stablecoin-to-GDP ratio of all countries
Animoca Brands Japan announced it will officially open its launchpad, SORAH, on June 18
Blockchain engineering group Equilibrium announced its first VC fund and raised $30M
Terraform Labs agreed to pay the SEC $4.47B in a proposed judgment, including $3.58B in disgorgement, $420M in civil penalties and blocking Do Kwon from ever becoming an officer or director of any public firm
🚀 Memecoin MoversÂ
$ATH (+34%, $350M market cap, ETH)
$KENDU (+32%, $237M market cap, ETH)
$ANDY (+31%, $20M market cap, Blast)Â
$DADDY (+26%, $230M market cap, SOL)
$STONKS (+25%, $25M market cap, ETH)
📈 NFT Floor Price Increase (ETH)
SMOWL (50%, 0.27 ETH Floor)
alignDRAW (26%, 0.99 ETH)
v1 Punks (23%, 2.45 ETH)
Azra Games (15%, 0.94 ETH)
Skytopia (14%, 0.4 ETH)
🗓 Upcoming NFT Mints and Reveals
Today is a slower day of mints.
Dune 404 begins its new hybrid mint this morning over on Base in a multi-phased mint.
foodmasku is the Onchain Summer artist.
And Floor is back with its weekly drop.
See the full list and dive in for more details with Swizzy's daily mint monitor.Â
Dune404 (5:00 a.m. ET)
RTFKT x Nike - Genesis VOID (12:00 p.m. ET)
foodmasku x Prohibition - Onchain Summer (12:00 p.m. ET)
Floor - Series 3 Drop 6 (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.