Weekly Check #0001
It’s a running title. If you missed last weeks newsletter, our first, check it out here.
These are brief market updates on the general crypto and web3 markets. I intend to quiet the noise and deliver relevant information.
General Crypto Markets
The 1 trillion dollar total marketcap for crypto is being retested. It will be interesting to see how demand for digital assets reacts in this area. Will check back next week.
Here’s a link to that thread by the Coinbase CEO. The fact that the SEC is commenting on the U.S. legal access to such a broad incentive loop is an insane overreach. Akin to the SEC banning stock dividends or Starbucks reward points for purchases. While there are certainly bad actors abusing staking mechanisms, this is greedy people’s fault, not staking.
NFT Markets
There are some great resources to stay up to date with recent NFT developments. We want to highlight them this week.
NFTstatistics.eth provides a great perspective on hot trends and collections in the NFT world. If you are trying to condense information consumption they are a great follow.
Wale.swoosh is one of the best thread writer's on Web3 twitter; worth a follow from anyone trying to learn or grow. He recently blasted into the top 10 in world wide reach, well deserved in my opinion.
Tyler_Did_It is a great follow for daily updates on hot NFT collections and the general Web3 space.
What’s Hot?
Bitcoin NFT’s are hot. They are actually called ordinals, inscriptions, or digital artifacts. All pretty cool alternatives to the term - NFT’s, which has gotten a pretty bad rep in the mainstream. That being said prices for these inscriptions have gotten high, I mean tens-of-thousands of dollars high. We talked about narratives a little last week but this is a great example. Are these something? Are these just short term hype of repurposed art? It is hard to know for sure, but people are certainly speculating.
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