Daily Market Update 8/28

Top Stories

NFT Market Recap

💰️ Notable Sales:

• 55.00 Ξ CryptoPunks #2923

• 22.00 Ξ Chromie Squiggle #9770

• 8.090 Ξ Pudgy Penguins #1972

🎉 Notable Mints:

⬆️ Top by Volume:

• MAYC, floor of 5.07 Ξ (7% ▽)

• BAYC, floor of 26 Ξ (2% ▽)

• DeGods, floor of 4.22 Ξ (4% ▽)

⬆️ Top by Sales:

• DMX, floor of 0.012 Ξ (77% ▲)

• MAYC, floor of 5.07 Ξ (7% ▽)

• Mindful Monkz, floor of 0.029 Ξ (46% ▲)

🪅 Biggest Winners:

• XANA: LAND, floor of 0.35 Ξ (84% ▲)

• AN IMPORTANT MEMORY FOR HUMANITY BY REFIK ANADOL, floor of 0.125 Ξ (27% ▲)

• SuperCreators By IAC, floor of 0.43 Ξ (26% ▲)

Other News

Web3

• Nine years ago, Hal Finney, one of the earliest believers and defenders of Bitcoin, passed away due to ALS complications

• Doodles and Crocs collaborative limited edition phygital drop opens on Aug 28 for WL and Aug 29 for the public

• Cool Cats airdropped “Cool Cattern” NFTs to the 99 Cool Cats featured in the artwork

• Jack Butcher opens the opt-in window for Opepen Set 015, “Divina Proportione” by @gillesdc

• Mercedes shares mint details for its Era of NXT Icons drop

• Sorare postponed the launch of its Fitness feature and Club Facilities until early next year

• PEPE X account addresses recent rogue team members’ token sales and exit; “$PEPE is now entirely free of this baggage, with clear roads ahead”

• Earl Sweatshirt and The Alchemist surprised fans and dropped their collaborative album on Gala Music

• Scammers trick DEA into sending them $55k by creating a vanity address similar to an address used by the US Marshals Service

Blockchain

• On-chain analysts attribute the new $3B BTC whale to Robinhood, but the company has neither confirmed nor denied its ownership over the address

• Tor’s latest release aims at defending against DOS attacks using PoW, requiring attackers to use more computational resources to execute attacks

• Optimism Foundation proposes granting Base 118M OP over a span of six years, and Base will contribute 2.5% of its total revenue or 15% of its net profits (whichever is greater) to the Optimism Collective

Finance

• Hashdex seeks approval to acquire spot BTC through its existing BTC futures ETF from the CME market’s EFP (Exchange for Physical) Transactions

• JPMorgan analysts estimate that liquidations are “largely behind us” based on CME contract open interest (active futures contracts)

• Experts weigh in on why USDC market cap continues its decline to a two-year low

• Prime Trust filings reveal the cascade of failures that led to its bankruptcy

Artificial Intelligence

• Researchers explore the use of generative AI in fighting cancer

• Stephen King isn’t worried about AI in writing, saying opposing it is like “trying to stop industrial progress by hammering a steam loom to pieces”

Government

• IRS releases draft of proposed reporting rules on the sale and exchange of digital assets by brokers

• Powell says the US Central Bank is prepared to raise rates further if appropriate

• Deputy Governor of the Bank of Spain Margarita Delgado speaks on the introduction of the digital euro and how private payment solutions will interact with it and its infrastructure

Business

• FTX temporarily freezes accounts impacted by Kroll’s breach

• Tether CTO Paolo Ardoino confirms an upcoming BTC mining site in South America but does not disclose details due to security reasons

• Binance P2P removed sanctioned Russian banks from its payments list

• Dropbox partially blames crypto mining for its decision to sunset the unlimited storage plan

Legal

• Ronaldinho could be detained after failing to appear before the Brazillian Congress over a pyramid scheme probe linked to his company “18kRonaldinho” promising clients daily profits over 2%

• Judge Lewis Kaplan will hear SBF’s argument to be granted appropriate access to discovery materials and prevent the government from using evidence produced after July 1