The Runes Gold Rush Begins
Bitcoin passed $72k this morning and the market is sending - find out why.
TylerD's Market Summary
GM!
Today’s top news:
Bitcoin smashes past $72k as Chinese institutions announce ETFs
Runes and Ordinals continue rally after mega weekend
Base NFTs and memecoins see major green
TNSR trades at $2.50 ahead of this morning’s airdrop
Zombie Cryptopunk sells at multi-year lows
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🎁 The Bitcoin NFT (And Runes) Bonanza
Wake up, check Bitcoin price. Very good price.
Check Bitcoin NFT prices (denominated in Bitcoin) - even better prices.
It’s a very good morning for those in the Bitcoin streets.
What Happened?
Early this morning news broke that 2 Chinese institutions would be adding Bitcoin ETFs.
The news sent Bitcoin up over $72,000 in early trading (also sending most of the memecoin market up with it).
This was also welcome news for BTC NFT enthusiasts who have seen their Ordinals bags pump all weekend - and that rally doesn’t look to be finished.
Runes Lead BTC NFT Market
There were 3 very clear winners from this weekend of NFT action on Bitcoin - and there were all Runes.
Runestones dominated volume all weekend and soared to a new ATH of 0.075 BTC ($608M mc)
RSIC jumped nearly 100% to a new local high of 0.096 BTC as its RSIC Rune token began trading at $0.05 on Whales pre-market (equates to a $1.05B mc)
The $PUPS token (BRC-20 currently but will convert to a runes) flew 600% to $24 (and $186M mc) after an Ansem pump on Friday
With the halving now less than 2 weeks away, Runes are squarely in focus and expect them to maintain the spotlight for the foreseeable future.
The other Ordinals leaders had nice weekends as well though.
After a near flipping event, NodeMonkes pulled back to a lead over Bitcoin Puppets, now 0.55 BTC to 0.38.
Puppets found a new ATH over 0.4 BTC briefly over the weekend before pulling back, but are clearly leveling up right now.
It looks like the battle between Nodes and Pups is just beginning.
Base Is The Other Killer B
While ETH NFTs have been most boring, one of the ETH L2s saw some big action this weekend.
Base.
A few highlights:
Based punks minted out for <0.01 ETH and ran to 0.7 + on Saturday
Onchain Gaias rebounded to 1.69 ETH after founder Ciniz launched a litepaper and expansion mint
Swatches 5x’d on Friday to 0.1 ETH and saw a 10 ETH rare sale
New mint Onchain Pills ran to a 0.18 ETH floor in its debut
This all happened while Base’s memecoins all pumped 30-40% or more (see details below).
NFTs and coins winning on Base right now.
And $FRIEND is just around the corner…
🚚 What else is happening in NFTs?
Here is the list of other notable headlines from the day in NFTs:
BTC led NFT trading volume with $17.6M on the day (-25%); ETH was next with $9.6M (+10%) and then Solana with $2.6M (-55%)
Bitcoin leaders were green led by Runestones at 0074 BTC (+15%) and RSIC at 0.096 (+30%); new project Blob jumped another 20% to 0.036
NodeMonkes re-grew their lead on Bitcoin Puppets, now at 0.55 BTC and 0.38
ETH NFT leaders were mixed on the day; BAYC -3% to 11.58 ETH, Pudgy +2% to 12.4, Milady +6% to 4.96 and Captainz -4% to 3.3 ETH
The CEDEN Keystone Nodes led top movers, +52% to 0.24 ETH; Skyborne Nexian Gems were next +26% to 1.23
Solana NFTs were mostly green on the day; Mad Lads even at 120 SOL, Tensorians +4% at 434, SMB Gen2 +22% at 55
A Zombie CryptoPunk sold for $320 ETH ($1.1M) overnight in the lowest Zombie sale in ETH terms in over 2 years
OpenSea officially launched NFT trading on Blast on Friday
💰 Token, Airdrop & Points Tracker
Here's a rundown of major token or airdrop news from the weekend:
The Tensor airdrop ($TNSR) goes live at 11 am ET today and will be listed on the Backpack Exchange; the tokens are trading over $3 pre-market
Kamino airdrop allocations are out and showing in Phantom wallets now, and the tokens are trading at $0.19 on Whales
Pacmoon’s ($PAC) officially hit a 2x from the local bottom tied to Airdrop 2, reaching $0.07 over the weekend and leading Blast action
$BETS pumped 150% to $42M after it was confirmed that the co-founder of Wall Street Bets is tied to the token
🌎 Around Crypto and Web3
A few other Crypto and Web3 headlines that caught my eye:
Crypto majors are very green this morning; BTC +4.2% at $72,780; ETH +6.6% at $3,610; SOL +1.68% at $184
Memecoins are up even more, with WIF +15% to $4.20, POPCAT +35%
The Base coins were very green led by AERO jumping 26% to $1.85B, DEGEN +28%, TOSHI +24%, doginme +39% and NORMIE +35%
Multiple Chinese institutions are set to launch BTC ETFs in Hong Kong, including the Harvest Fund ($239B aum) and China Southern Fund ($284B)
BlackRock updated its Bitcoin ETF prospectus adding several new Authorized Participants for major institutions like Citadel, Goldman Sachs, Citigroup, UBS and more
Robinhood crypto data shows BTC holdings have increased by ~14% in the last 6 month while ETH holdings have decreased ~9%
🚀 Memecoin Movers (new section!)
BETS (+150%, $42M market cap, Base)
doginme (+39%, $64M mc, Base)
NORMIE (+32%, $125M mc, Base)
DEGEN (+28%, $528M mc, Base)
TOSHI (+24%, $305M mc, Base)
📈 NFT Floor Price Increase (ETH)
CEDEN Keystone Nodes (52%, 0.24 ETH Floor)
Skyborne Nexian Gems (26%, 1.23 ETH)
GEN1 Pass (25%, 1.37 ETH)
Cryptodickbutts S3 (20%, 0.68 ETH)
Lasogette (7%, 0.41 ETH)
🗓 Upcoming NFT Mints and Reveals
Today is a busy day to start the week.
The highlight is the $TNSR airdrop set to launch at 11 am ET today. The token is trading at $2.50+ already on Whales and is set to be a major stimulus for the Solana ecosystem.
And with $KMNO and $KHOOD also set for launch this week, it’s stimmy SZN.
See the full list and dive in for more details with Swizzy's daily mint monitor.
Basketballverse (10:00 a.m. ET)
Memes by 6529 (11:00 a.m. ET)
$TNSR (11:00 a.m. ET)
Neighbor (11:00 p.m. ET)
Combat (5:00 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.