Daily Market Update 10/26

Top Stories

NFT Market Recap

💰️ Notable Sales:

• 85 Ξ CryptoPunks #9736

• 52.26 Ξ BAYC #7452

• 40 Ξ CloneX #16284

🎉 Notable Mints:

⬆️ Top by Volume:

• BAYC, floor of 27.4 Ξ (2% ▲)

• The Captainz, floor of 3.8 Ξ (6% ▽)

• MAYC, floor of 5.2 Ξ (4% ▲)

⬆️ Top by Sales:

• 4762 Corsair Membership, floor of 0.006 Ξ (67% ▽)

• TrekkiNFT, floor of 0.068 Ξ (18% ▽)

• Chameleon Travel Club, floor of 0.064 Ξ (24% ▽)

🪅 Biggest Winners:

• Distortion Genesis, floor of 0.52 Ξ (116% ▲)

• Shrapnel Operators Collection, floor of 0.11 Ξ (22% ▲)

• Moonbears, floor of 0.23 Ξ (22% ▲)

Other News

Web3

• NFT lending protocol Arcade launched its ArcadeDAO and its $ARCD governance token; the first token claim is live

• Memeland secured $10M in $MEME commitments 42 min. after launch; the sale is live for another 17 hours

• PROOF opens RSVPs for its Sakazuki partnership pre-launch event

• World of Women reveal the WoW Gala will be on Feb 24, 2024 in Paris

• Cool Cats customizable avatars goes live

• FewoWorld prepares to open the Fewos Dressing Room where holders can experiment before the first wearables collection drops in Dec.

Blockchain

• Recovery firm Unciphered offered to unlock an IronKey hard drive containing 7k $BTC (~$244M) with two password attempts left before its data is wiped

• Deutsche Bank and Standard Chartered Ventures are testing a system that allows blockchain-based transactions, stablecoins, and CBDCs to talk to each other — like the legacy SWIFT messaging layer

Finance

• Neon Machine, the game developer behind web3 first-person shooter Shrapnel, raised $20M in Series A funding

• Capriole Investments founder Charles Edwards points out increased BTC miner sales at $35k, suggesting consolidation before continuation

• Peter Brandt believes that the Bitcoin bottom is in, but the path to new all-time highs will be a volatile fight

• Peckshield data shows FTX cold wallets moving $19M in SOL, ETH, among others, to exchange deposit accounts

• Bloomberg reports JPMorgan’s JPM Coin is handling $1B in transactions per day

• JPMorgan reports Bitcoin’s recent outperformance is fueled by institutional demand

• $GOOGL tumbles 10% in its worst day since March 2020

Artificial Intelligence

• Amazon’s Alexa offers Explore with Alexa, giving kids personalized and trusted educational responses powered by generative AI

• Scientists from USTC and Tencent’s YouTu Lab have developed a tool to combat “hallucination” in LLMs like ChatGPT and Claude

• Internet Watch Foundation alerts of the rapid spread of AI-generated child abuse material, warning it could “overwhelm” the internet

Government

• Hashdex, SEC meet to address concerns for allowing Hashdex’s BTC Futures ETF to hold spot Bitcoin through CME Exchange for Physical transactions

• Japan’s new stablecoin law permits banks, trust companies, and fund transfer services to issue stablecoins in the country

• UK lawmakers passed the Economic Crime and Corporate Transparency Bill that lets law enforcement freeze crypto with criminal links without a conviction

Business

• MoonPay teams up with Mastercard to incorporate Mastercard’s compliance-friendly Crypto Credential system and integrate payment methods like Send and Click to Pay

• Walmart’s Nº8 and Outlier Ventures partner to launch its web3 accelerator program, Store Nº8 Base Camp

• Circle partners with Taiwan’s FamilyMart to launch “points-to-crypto”

Legal

• Creditors sue CoinFLEX CEO Mark Lamb, arguing unauthorized creation of OPNX with 3AC founders Su Zhu and Kyle Davies

• SBF’s defense asked Judge Kaplan to let them introduce proof of “inconsistent statements” made from Gary Wang and Nishad Singh

• SBF will testify after his defense presents three witnesses, potentially as early as today (Thursday, Oct. 26)