Daily Market Update 10/18

Top Stories

NFT Market Recap

💰️ Notable Sales:

• 50 Ξ CryptoPunks #7934

• 38.41 Ξ BAYC #8463

• 7.5 Ξ Otherdeed Expanded #13573

🎉 Notable Mints:

⬆️ Top by Volume:

• BAYC, floor of 24.4 Ξ (6% ▽)

• Winds Of Yawanawa By Yawanawa And Refik Anadol, floor of 9.88 Ξ (18% ▽)

• Pudgy Penguins, floor of 5.3 Ξ (3% ▽)

⬆️ Top by Sales:

• Owls Of Fortune, floor of 0.007 Ξ (35% ▲)

• Forge Day 0 Badges, floor of 0.045 Ξ (19% ▽)

• Creep Crew Aditus, floor of 0.06 Ξ (13% ▽)

🪅 Biggest Winners:

• Llamaverse Genesis, floor of 0.14 Ξ (255% ▲)

• Hausphases By Haus, floor of 0.092 Ξ (235% ▲)

• Billows By Aleksandra, floor of 0.076 Ξ (155% ▲)

Other News

Web3

• Memeland reveals Oct./Nov. plans for $MEME

• Sandbox has appointed Nicola Sebastiani, who holds experience from PlayStation and Apple, as Chief Content Officer

• Pudgy Penguins announces its Pudgy Toys won Toy Insider’s Top Holiday Toy of 2023 award

• Ripple job posting ignites speculation of a possible IPO

• Reddit will wind down its Community Points program citing difficulty scaling and resourcing too high to justify

• Fantom Foundation hot wallet was hacked for $550k; the team is investigating

Blockchain

• Sui Foundation calls supply manipulation allegations made by director of the South Korean Financial Supervisory Service “materially false”

• zkEVM Scroll mainnet goes live

• SK Telecom partnered with CryptoQuant to debut its crypto wallet

Finance

• Hope for a spot BTC ETF has helped $GBTC narrow its discount to 12% of the trust’s NAV, the smallest discount it has had since Dec. 2021

• Bitcoin price models estimate a $128k or more price by the end of 2025

• CryptoQuant models predict a $900B BTC marketcap following the approval of a spot Bitcoin ETF

• 21.co report estimates the tokenized RWA market could grow to a $10T marketcap from $116B by 2030

• Immutable has again delayed the release of $67M in vested $IMX allocated to developers, stating the treasury has four years of runway

• Bitcoin Magazine owner has backed the “Unbroken Chain” fund, which plans to raise $5M from partners to trade Ordinals and BRC-20 tokens

• Darewise Entertainment, an Animoca Brands subsidiary, has raised $3.5M in its Bitcoin Metaverse token presale

• Bank of America has reported $131.6B in unrealized losses on securities but doesn’t expect the portfolio to generate losses long-term

Artificial Intelligence

• Baidu has released version 4.0 of its “Ernie” LLM chatbot, CEO Robin Li claimed the model “stands on par with GPT-4 in terms of overall performance”

• Nov. summit seeks to establish the UK’s presence as a mediator between the US, China, and EU regarding AI and the dangers it presents

Government

• Europe's AML regulations come at a high cost to privacy and businesses, requiring extensive user data collection

• EU has formally agreed on new crypto tax data sharing rules

Business

• Roblox refutes articles suggesting in-game XRP support claims

• BC Technology denied Bloomberg’s report say it's HK-based exchange is for sale

Legal

• Google argued in its motion to dismiss a class-action lawsuit that using publicly available information is not “stealing”

• Nishad Singh admitted “there was a lot” he didn’t remember from June to July 2022 under SBF’s defenses cross-examination

• FBI testimony at SBF’s trial says he dined with NYC Mayor Eric Adams and showcased how in-demand SBF was prior to FTX’s collapse; 32 firms requested access to a group dinner, including that of George Soros and Morgan Stanley

• Documents reveal FTX had promised a $100M sponsorship to Riot Games for its Riot’s League Championship Series

• Emails reveal Bahamian Prime Minister Philip Davis asked SBF to give his son advice on an NFT project two months before the collapse