#154: TRUMP MEMECOIN HITS $70B IN 48 HOURS
GM - this is The Snapshot, edition #154.
This is what I’ve got for you this week.
This Week In Web3 - Mania begins
Sponsored Post - Lil Nouns Increase Nouns Holdings For Proposer Rights
Notable Sales - Punks, Azukis
Investment Focus - TRUMP LAUNCHES MEMECOIN: $70B IN 48 HOURS
For sponsorship enquires, please DM me on Twitter.
Have a great day,
B
This Week In NFT World - Mania begins
SOL up almost 50% on the week after Trump launches his official memecoin on SOL
SOL is crushing on the week: up 47%; whereas ETH is down (!) 1% at $3.2k, whilst BTC is up 11% on anticipation of bullish news regarding a BTC strategic reserve in Trump’s inauguration speech on Monday
Crypto billionaire and Tron founder Justin Sun offers 20% yield on stablecoins and tells everyone not to worry where the yield comes from
"Tron founder Justin Sun said people should “stop” asking him questions like where the yield will come from when the next iteration of his algorithmic stablecoin, USDD, offers a 20% APY. “It’s simply because we have plenty of money,” Sun said.
Coinbase launches BTC backed loans up to $100K via Morpho
"Bitcoin-backed loans are rolling out on Coinbase. Customers can instantly borrow USDC at competitive interest rates with flexible, open-ended repayment terms. Loans are powered by Morpho, an open source lending protocol on Base. Crypto-backed loans will launch with bitcoin as collateral, with plans to add more assets in the future. Loans are available to customers starting in the U.S., excluding New York State, with plans to expand to more markets."
From Coinbase
Phantom crypto wallet primarily known for excellent UX on Solana raises $150M Series C
"Digital asset wallet Phantom announced has raised $150 million from a Series C funding round led by venture capital firms Sequoia Capital and Paradigm, valuing the firm at $3 billion. Andreessen Horowitz and Variant also participated in the funding round."
Sony L2 Soneium goes live with some criticism over freezing tokens
“Sony has launched the mainnet of its Soneium blockchain network following several months in which the network ran only as a testnet.
The launch was somewhat overshadowed by reports that Sony is already censoring content on the network, with several meme tokens reportedly blocked from trading over IP concerns.
Vitalik Buterin has shared his thoughts, saying that the ability to run tightly controlled or fully open networks is one of the strengths of Ethereum layer 2 networks like Soneium.”
From cryptonews
Abstract announces its onchain incentive programme to earn XP for builders and users
"On Abstract Mainnet, users and creators using Abstract apps and streaming via the Abstract Global Wallet earn XP.
Builders will receive awards from the success of their apps. Your XP updates every Monday, rewarding your last week's onchain activity.
Abstract users earn XP by engaging with the chain and having fun.
Users on Abstract will also be able to earn XP through badges for their participation. There are three types of badges: flash badges, weekly badges, and secret badges."
“These agents can perform a range of advanced tasks and operate autonomously across multiple digital ecosystems while maintaining their unique personalities and knowledge. In its debut, Eliza Wakes Up introduced an intelligent, empathetic, entertaining, and kind AI companion and friend, capable of beyond-human connection."
From ai16znews
Sponsored Post - Lil Nouns Increase Nouns Holdings For Proposer Rights
The cool thing about Lil Nouns DAO is that it is a gateway to the Nouns ecosystem.
Nouns have 3,122 ETH in its treasury, and they use that to fund cool Nounish things - if you hold Nouns you can propose ideas and get funded.
Lil Nouns DAO has always been super involved in Nouns (obviously, it’s a sub-DAO), and there was a vote this week to make sure it can keep proposing to Nouns by buying a third Noun (you now need to hold 3 Nouns to make proposals)
The proposal passed no problem!
So Lil Nouns DAO can keep its governance game strong by making new proposals to Nouns.
The governance game goes on!
If you are curious about contributing to a cutting-edge DAO and getting paid to bring your ideas to life: check out our website.
Notable Sales - Punks, Azukis
CryptoPunk, Hoodie - 150 ETH
CryptoPunk, Pilot Helmet - 100 ETH
Azuki, Fire - 24.88 ETH
Azuki Elemental, 31 ETH
Investment Focus - TRUMP LAUNCHES MEMECOIN: $70B IN 48 HOURS
The incoming President of The United States of America just launched a memecoin. And it sent to $70B FDV in less than 48 hours. (It then sold off hard to $40b, after bouncing again to $60B)
Just a couple of days ahead of his inauguration on Monday, $TRUMP was launched via posts on his social media platforms, Truth Social and X.
$TRUMP is now the 21st most valuable coin in crypto and just did more volume than Solana in the last 24 hours lol
This is one of the wildest things that crypto has ever seen, undoubtedly.
Most in crypto were very shocked.
Whilst most people think this is really good, I have a nuanced take - made more evident by the fact that the Trump family launched $ MELANIA not long after (which is what caused the dump to $40B - are they just going to launch a coin for every member of the family?!)
The trumps have flicked the switch to hard mode.
It is an attention game for any asset other than the majors (maybe even them too) + now any of your coins can get vampired by them or new more famous ppl
What happens if mr beast launches on solana? you’re not going to want to full port that too? but you’ve already full ported trump?
There is no such thing as a full port asset apart from the majors now unless you are very prepared to rotate very quickly.
PS the one coin was cool, the second was not.
Hope the inauguration includes a proper celebration of crypto and what it stands for.
Long term bullish core crypto, short term very wary for capital rotators.
Have a great day,
B
Disclaimer: The content covered in this newsletter is not to be considered as investment advice. It is for informational and educational purposes only.
I hold some of the NFTs mentioned in these newsletters