Web3 Weekly Review: SOL's ATH metrics, Mr Beast's suspected insider deals, Coinbase's $25M to Fairshake PAC...
NFT Weekly News #71 27th October - 3rd November
NFT News Weekly Update #71
(27/10/2024-03/11/2024)
GM
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Top News 🔝
📌 L1 | SOL hits ATHs for a number of key metrics (Oct 27)
Solana is either exceeding or at ATHs for: TVL, revenue, volume, real economic activity, developer activity, txns, net inflows and deduped stable transfer volume.
📌 Crypto KOL | One Investigation claimed that Mr Beast made $23m from insider crypto deals (Oct 31)
Mr Beast, one of YouTube’s most popular creators with over 320 million subscribers across his main and secondary channels, has recently come under public scrutiny due to various controversies. A team of researchers has since conducted a comprehensive analysis, revealing connections to over 50 cryptocurrency wallets associated with MrBeast, reportedly accumulating gains totaling $23 million. Their findings suggest a longstanding pattern of insider trading, investor misdirection, and leveraging his influence to promote tokens, which were then later sold off on the market.
The fact remains to be verified.
📌 US Politics | Coinbase pledges $25 million to Fairshake PAC for pro-crypto candidates in 2026 midterms (Oct 31)
Coinbase is planning ahead and is committed to pouring a further $25 million into Fairshake to boost pro-crypto candidates ahead of the 2026 midterms.
Coinbase CEO Brian Armstrong said the crypto voter is “already a force to be reckoned with.”
Market Update 📣
Last week, the primary NFT PFP projects that saw significant sales included BAYC, Crypto Punks, and Elemental. These collections are famous for their charming characters and distinctive designs, which make them very popular in NFT market.
Winds of Yawanawa, Ringer and Chromie Squiggles stood out as the main NFT Art projects sold last week. Winds of Yawanawa has experienced in the past week an increase in trading volume, reclaiming public attention through its distinct aesthetic senses and creative ingenuity.
Credit to: @Deepnftvalue
Other News 👀
Meme | Truth Terminal Founder’s Account Hacked, $600K Stolen Promoting Scam Token $IB (Oct 28)
The X account of Andy Ayrey, founder of the AI bot Truth Terminal, was hacked on 24th October. The hacker promoted a scam token, $IB, resulting in the theft of over $600,000 in less than an hour.
NFT | Art Blocks & OpenSea announce partnership (Oct 29)
Through this partnership, @ArtOnBlockchain and the team at Art Blocks will help guide OpenSea’s roadmap for creators and new product features. They are also collaborating on a unique Art Blocks Engine contract to bring generative minting and new drops to Opensea, along with sponsoring some exciting events.
NFT Chain Volume 💎
Over the past week, NFT marketplace volume went down to $90.53 million. Polygon claimed the top spot with a 34% market share while with $30.8M chain volume, surpassing both Ethereum and Solana.
Credit to : @NFTpulse
Memecoin Market Cap and Volume 🔑
Last week, the daily market cap for memecoins fluctuated between $57.12 billion and $64.71 billion, settling at $57.63 billion on November 3rd.
Weekly trading volume reached $47.64 billion, marking a 5.51% increase from the previous week.
The top 3 weekly gainers on CoinmarketCap are $MSTR, $KEKEC, and $KENDU.
Credit to : @CoinMarketCap