The GOP Includes Crypto in 2024 Platform
Plus ETH outperforms as the ETH ETFs appear imminent
TylerD's Market Summary
GM!
Today's top news:
Crypto majors rebound despite German Gov’t selling, ETH leads
Spot ETH ETF applicants file new forms, approval seems imminent
GOP includes crypto rights in 2024 platform
Messi touts Solana coin on his IG, runs to $100M before 30% retrace
Blast distributes 1st round of Gold, Fantasy Top ups rewards
💡 Republicans Officially Embrace Crypto
This year has seen crypto become more of a political issue than ever.
And now one party has made their crypto stance official.
The GOP.
What Happened?
Yesterday the Republican party released its official 2024 GOP Platform which included a brief section on crypto.
It sits within Chapter 3: "Build the greatest economy in history."
The stance is to:
end unlawful crypto crackdown
oppose a CBDC
defend BTC mining rights
ensure right to self-custody & free transacting
For crypto holders and believers, it sounds pretty good. It's hard to argue with any of those foundational items.
This is in stark contrast to what has happened under the current Democratic regime where:
The SEC came after several major crypto companies while providing no clear framework within which to operate
Senator Elizabeth Warren proposed a bill to restrict self-custody wallets
The new platform was (unsurprisingly) received very well by most of Crypto Twitter, with many applauding the entire Chapter 3 tenets.
Self-described Techno-Optimist and writer Packy McCormick commented "This... is my politics."
Why It Matters
There are certainly more issues and more factors at play in the 2024 election than just crypto.
But looking specifically at crypto here, it's a major win to see it called out by name within the Innovation section of the GOP platform.
Along with just AI, Manufacturing and Space Exploration.
The GOP put crypto on a pedestal.
And their vision for crypto is one that aligns with most builders' and participants' goals - ending the crackdown, no CBDC, and freedom to transact, self-custody and mine.
Assuming Trump and the GOP would stick to this plan, it would be a win for crypto.
Now it's time for the Democrats to respond and put their platform down on paper.
But maybe don't hold your breath...
🚚 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 $4.2M (-15%) on the day; Solana was next with $2.7M, and then BTC with $2.3M
ETH NFT leaders were mostly green up 1-5% on the day; Pudgy +1% to 10.45 ETH, BAYC -1% to 9.4, Azuki +5% to 3.86 ETH, Captainz +6% to 2.55 and Milady -3% at 4.8
Forgotten Runes Watchers and Defimons were top movers on the day, jumping 69% and 25% respectively
BTC NFT leaders were mixed; NodeMonkes -1% at 0.162 BTC, Puppets even at 0.124 BTC, OMB -1% at 0.204 and Quantum Cats even at 0.25; Runestone (+5%) and RSIC (+15%) were top movers
The Runes leaders were mostly red; DOG -3% at $457M mc, RSIC +2% at $83M mc and PUPS -9% at $51.5M
The RSIC team teased a new game in a basic tweet saying "Shall we play a game?"
Solana NFTs were red; Mad Lads -3% at 78 SOL, SMB Gen 2 -1% at 32, DeGods -1% at 18, Tensorians -1% at 12.5
💰 Token, Airdrop & Protocol Tracker
Here's a rundown of major token or airdrop news from the day:
Blast released its first round of Blast Gold distributions for Phase 2 with 10M Gold in total including 0.5M earmarked for new Dapps; Thruster and Fantasy Top were big winners, getting 1.2M Gold each, then Wasabi and Capt & Co who got 800k each
Fantasy Top announced retroactive rewards of 220k Blast Gold for Main Tournament participants
Aevo is listing TON's Hamster Kombat's $HMSTR for pre-market trading
The XAI team noted that its unlock for this week will only be 36% of circulating supply vs the previously reported 79%, sharing that contributor tokens would be locked another 6 months
Backpack Exchange added support for Polygon
🌎 Around Crypto and Web3
A few other Crypto and Web3 headlines that caught my eye:
Crypto majors are slightly green this morning led by ETH; BTC +0.6% at $57,450; ETH +1.5% at $3,080, SOL +0.3% at $141
Memecoin majors are mostly green with DOGE -1%, PEPE +3%, WIF -2%, BONK +12%, MOG +7%; WATER, WAT lead
All of the spot ETH ETF applicants filed updated S-1s yesterday in a sign the ETFs may be close to approval
VanEck confirmed that it has filed its application for the first SOL ETF in the US
Lionel Messi promoted the WATER token on Solana on his Instagram live feed to his 504M followers, briefly causing the token to spike to $100M before retracing to $66M (+200% on the day)
Coinbase International announced it will add support for BLAST, ZRO and ZK perp futures starting July 11
Open Campus announced its Hackathon series with $1M in $EDU prizes to developers building on its EDU Chain, noting that "Semester One" will run from July 15 - Aug 14 with $200k in prizes
🚀 Memecoin Movers
$WATER (+190%, $66M market cap, SOL)
$WAT (+78%, $29M market cap, ETH)
$RETARDIO (+72%, $80M market cap, SOL)
$BODEN (+37%, $30M market cap, SOL)
$ZYN (+30%, $40M market cap, ETH)
📈 NFT Floor Price Increase (ETH)
Forgotten Runes Watchers (69%, 0.59 ETH Floor)
wassies (44%, 0.4 ETH)
Defimons (25%, 0.27 ETH)
Otherdeed (16%, 0.16 ETH)
Kanpai Pandas (12%, 1.1 ETH)
🗓 Upcoming Mints and Events
Today is a busy day of drops, mostly focused in the art sector.
Amber Vittoria is back with Flowers, Casey Reas has a collab drop "CRAWL" and Gabriel Moses is teaming up with Avant Arte for a drop "Lea and Monica."
See the full list and dive in for more details with Swizzy's daily mint monitor.
Gabriel Moses x Avant Arte - Lea and Monica (9:00 a.m. ET)
Moku (9:00 a.m. ET)
Amber Vittoria - Flowers (9:00 a.m. ET)
Unitap (12:00 p.m. ET)
Travess Smalley x Casey Reas x Feral File - CRAWL (12:00 p.m. ET)
Stuart Batchelor x Verse - linea (1:00 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.