Daily Market Update 9/18

Top Stories

NFT Market Recap

💰️ Notable Sales:

• 420 Ξ CryptoPunks #3609

• 64.9 Ξ CryptoPunks #5062

• 24.5 Ξ Milady Maker #3918

🎉 Notable Mints:

⬆️ Top by Volume:

• MAYC, floor of 4.92 Ξ (3% ▲)

• Sugartown Oras, floor of 0.39 Ξ (25% ▲)

• BAYC, floor of 24.3 Ξ (1% ▽)

⬆️ Top by Sales:

• ATTACKING! ALAN, floor of 0.0083 Ξ (22% ▽)

• Mittaria Genesis, floor of 0.18 Ξ (69% ▲)

• Sugartown Oras, floor of 0.39 Ξ (25% ▲)

🪅 Biggest Winners:

• Sports Rollbots, floor of 0.69 Ξ (40% ▲)

• 10KTF G Tags, floor of 0.33 Ξ (36% ▲)

• Checks - VV Edition, floor of 0.6 Ξ (16% ▲)

Other News

Web3

• PUBG developers Krafton reveal their upcoming metaverse game will be called “Overdare” and shared a first look at the creation-centric

  platform

• Memeland announces a collaboration with @TrekkiNFT

• Checks holders can claim a free, untradeable Checks PFP that is mirrored to the Check it is minted to, automatically transferring upon the sale or transfer of its respective Check

• Polkadot community PolkaWorld halts operations after its treasury funding proposal was rejected

• NounsDAO completes its fork, seeing holders of more than half of the collection opting to exit, withdrawing $27M in ETH from the treasury in the process

• 3LAU steps away from Friend.tech, citing uncertainty and regulatory risks, but calls the tech an “awesome product”

• Mark Cuban was drained for roughly $870k after 160 days of inactivity

Blockchain

• ETH developers agree to cap the number of new validators allowed to join the network every six minutes to slow the influx of staked ETH

• IOTA developers intend to release IOTA 2.0 to increase the utility of its MIOTA tokens and improve network security

• Chronicle Protocol’s Scribe, launching this month, is dubbed as the “next-generation oracle cryptographic primitive”

• Base hits a new peak of just under 2M transactions in a day

• Research firm RxR's data suggests ETH is trading at a 27% discount to its fair value according to its blended Metcalfe law-centric valuation model

Finance

• VanEck analysts observed DeFi activity declining by 15.5% in August

• Optimism announces unclaimed funds from its first airdrop will be distributed to the remaining eligible addresses

Artificial Intelligence

• Nvidia’s AI partner, Databricks, raises $500M with a valuation of $43B

• Google opens up testing for its highly anticipated, advanced AI system Gemini for select companies

Government

• South Korea shifts focus to OTC crypto regulations as unlawful deals reach an estimated $4B

• NY Department of Financial Services proposes guidance and expectations for how crypto firms evaluate coin offerings and delistings

• Japan reportedly plans to permit startups to raise public funds through the issuance of crypto assets instead of stocks

• HK Monetary Authority issues a warning to users that crypto businesses presenting themselves as banks or using banking terminology could be violating the region’s banking laws

Business

• JPEX exchange freezes certain operations and increases withdrawal fees amid HK regulator criticism and third-party market makers “maliciously” freezing company funds

• Binance’s CZ responds to speculation surrounding the exit of Binance US CEO, saying he is “taking a deserved break after accomplishing what he set out to do”

• FTX reactivates accounts affected by the recent claims portal attack

Legal

• Gemini Trust lawyers push back against DCG's proposed plan for creditors of Genesis Global, accusing DCG of gaslighting Genesis creditors through “contrived, misleading, and inaccurate assertions”

• Judge grants SEC’s motion to unseal key documents in its lawsuit against Binance US

• Federal prosecutors criticize SBF’s lawyer’s questions, saying they are “unnecessary and time-consuming questions” for potential jurors

• NFL’s Trevor Lawrence and YouTube influencers Kevin Paffrath and Tom Nash reportedly have settled their lawsuit over failing to adequately disclose compensation for FTX promotions