#130 $MOCA To $1B FDV
Animoca reveal token + cash assets of $2.7B
GM - this is The Snapshot, edition #130.
This is what I’ve got for you this week.
This Week In NFT World - $MOCA To $1B FDV
Notable Sales - Gold Ape, Pebble, Penguins, Punks
Investor Focus - Memecoins vs NFTs: Best Risk Reward Bet
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Have a great day,
B
This Week In NFT World - $MOCA To $1B FDV
Trump to speak at world's largest BTC conference
Germany selling BTC almost over: $3B worth of BTC in wallets now down to $285M
"Germany's FBI held 50,000 BTC up to late June. They have been selling relentlessly in small increments since June 19. Today they went in bigger, and moved 16,038 BTC to brokers and exchanges. Their balance is now down to 23,788 BTC. Entering the final stretch of the German onslaught. They will eventually run out of coin."
From @krugermacro earlier in the week
Goldman Sachs to launch 3 tokenization projects and funds this year
"As its peers in traditional finance push deeper into crypto—including BlackRock’s Bitcoin ETF and Fidelity’s trading platform—Goldman Sachs is preparing to make a move of its own. This comes as the 150-year-old banking behemoth is seeing a major uptick in interest from clients, digital assets global head Mathew McDermott told Fortune."
EURC 3rd largest fiat currency is coming to Base
"We’re excited to bring EURC to Base, its first euro-backed stablecoin, enabling developers to deliver faster and cheaper commerce with a euro-backed digital currency for global users. EURC is issued by Circle and now joins USDC - the largest stablecoin on Base with more than $3 billion in circulation as of July 9th. The euro is the third largest fiat currency in the traditional financial system today, signifying a large opportunity for growth in the digital asset economy. EURC and USDC are the first stablecoins on Base from a global issuer to be compliant with the new Markets in Crypto Assets (MiCA) regulation."
In addition: Circle mints another $250M on Solana
"USDC has minted $500M in the past 2 days Including a $250M mint just 6 mins ago. That's a 25% increase in USDC reserves on Solana, now up to $2.35B and has pushed overall stables to $3.35B."
The $MOCA token has launched: trading at a $990M FDV and $125M mcap
Notable Sales - Gold Ape, Pebble, Penguins, Punks
Bored Ape, Gold - 105 ETH
Pebble - 18.9 ETH
Villain Penguin - 12.06 ETH
CryptoPunk #2 - 130 ETH
Investor Focus - Memecoins vs NFTs: Best Risk Reward Bet
I wrote this tweet this week on NFTs vs memecoins which got people going - so I wanted to share along with some of the pusbhack and clarification of thinking.
vc coins are bad because of how many investors got in lower than you + want to sell asap
memecoins are allegedly better because no locked up investors ready to unload at any moment (although still insiders exist)
following this thinking, nfts are at least as good no early investors with lower cost basis, no insiders
like the r/r of nfts vs memecoins here tbh
to clarify the thinking:
to conclude: if this is the outlook (if we are now in a universe where the best assets are the assets which have the least number of people who are so up AND who want to dump at some point very soon) NFTs are a good asset relative to meme coins.
it’s obviously not a guarantee of anything, just a reflection on risk/reward.
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