Daily Market Update 9/12

In Today’s Market Update, We Cover FTX $7B in Assets, Tesla Tech Threatens NVIDIA, Christie's Hosts Keith Haring's Pixel Pioneer, Jean-Michel Basquiat Photographs, and More.

Author

Jake
September 12, 2023

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Top Stories

FTX presentation materials reveal $7B in assets, $1.16B in SOL, $833M in BTC/ETH, and more

Christie's presents an exclusive auction of five rare digital drawings from Keith Haring

Morgan Stanley reports Tesla supercomputing system could pose a threat to NVIDIA

A rare collection of seven photographs of the legendary Jean-Michel Basquiat

NFT Market Recap

💰️ Notable Sales:
🎉 Notable Mints:

diewiththemostlikes: chub pack on NiftyGateway

The only way to consume art is involuntarily, with a tire jack and a fucking snow shovel. like glass shards limply shredding your gums from a week-old dip lip. thoughts and tastes eroding into indifference like urinal cakes under a dehydrated piss stream at a newly opened fuckable arcade bar.

app.mintify.xyz/collection/diewiththemostlikes-chub-pack-on-niftygateway

William Mapan: ‘Distance’ in collaboration with LACMA and Cactoid Labs

Titled “Distance” and due to drop September 12, the Paris-based artist’s latest collection is the fifth installment in LACMA and Cactoid Labs’s joint blockchain initiative, Remembrance of Things Future. The 250 NFTs in “Distance” are made up of varying grids and geometric shapes, saturated with bold and complementary tones.

app.mintify.xyz/collection/william-mapan-distance-in-collaboration-with-lacma-and-cactoid-labs

⬆️ Top by Volume:
⬆️ Top by Sales:

🪅 Biggest Winners:

⛓️ NFT Vol. by Blockchain:

  • ETH: $5.5M (31% ▲)

  • BTC: $306k (29% ▽)

  • SOL: $776k (14% ▲)

  • MATIC: $820k (8% ▽)

  • ZORA: $3.2k (39% ▽)

🪙 Top Tokens:

  • BTC: $26,110 (1.7% ▲)

  • ETH: $1,604 (0.7% ▲)

  • BNB: $211 (1.7% ▲)

  • XRP: $0.478 (0.9% ▲)

  • ADA: $0.249 (1.6% ▲)

📊 Market Stats:

  • Global Crypto Market Cap: $1.04T

  • BTC Dominance: 49.97%

  • BTC OI: $7.28B

  • Fear & Greed: 30

💹 Indices (Futures):

  • DOW: $34,957 (0.2% ▽)

  • S&P500: $4,526 (0.3% ▽)

  • NASDAQ: $15,617 (0.4% ▽)

  • FTSE100: $9,418 (0.6% ▲)

  • HSI: $2,305 (0.03% ▽)

Other News

Web3

  • Diesel partners with Public Pressure to drop access-pass NFTs for Diesel’s Milan Fashion Week shows

  • Developer working on Remilia Corporation’s Bonkler collection allegedly compromised nearly $1M in generated fees; the team assures that the main contract and NFTs are secure

Blockchain

  • Metamask launches “Snaps,” allowing the customization of wallets with third-party developed features audited by Consensys developers

  • Coinbase Cloud clients can now let customers stake as much ETH as they want, even if it’s below the 32 ETH threshold

  • Fireblocks launches non-custodial wallet service for its fintech and corporate clients to offer end consumers self-custody solutions

  • Seamless Protocol, an Aave v3 fork, launches noncustodial liquidity markets on Base

Finance

  • PayPal launches an off-ramp crypto-to-USD service

  • $TSLA up 10% on Morgan Stanley report the companies supercomputing system could pose a threat to NVIDIA

  • FTX presentation materials reveal $7B in assets, $1.16B in SOL, $833M in BTC/ETH, $487M in BTC/ETH-denominated securities, $362M in SRM, $309M in MAPS, $164M in OXY, $222M in Bahamas real estate, and more

  • Circle’s chief economist says the stablecoin provider maintains better liquidity coverage than most US banks, “…somewhere between 200% and over 800%…” depending on which metrics are used

Artificial Intelligence

  • Pahdo Labs, the studio behind anime game Halcyon Zero, will launch generative AI tools for content creation after raising $15M led by a16z

  • Google launched the Digital Futures Project with $20M in grants to support “responsible AI”

Business

  • LayerZero Labs partners with Google Cloud to secure its cross-chain messaging platform and enhance Web3 interoperability

  • Crypto custody firm Finoa extends its range of brokerage and staking services to include access to a regulatory-compliant form of DeFi

  • Group of blockchain and crypto firms, including a16z crypto, Coinbase, and Ledger, joined to create a Texas advocacy group for clear regulations

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