Web3 Weekly Review: Trump's three sons' involvement in memecoin, ETH's Gwei to 0, SOL memes' fall...
NFT Weekly News #59 5th August - 11th August
NFT News Weekly Update #59
(5/08/2024-11/08/2024)
GM
Welcome to NFT Weekly News by Threekeyslab🗝️🗝️🗝️. Here you can find the latest curated news📰in the NFT world. Every week, we aim to provide a selection of the most interesting news and events that are fostering the development of the NFT world.
The NFT field is constantly evolving, and this article will review last week's Top🔝NFT news. Let's take a look👀together!
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Top News 🔝
📌 Meme| All three of Trump's sons have now been caught up in memecoin drama (Aug 11)
Eric Trump on Tuesday told his social media following that he had “truly fallen in love with Crypto / DeFi.” Meanwhile, Trump Jr. posted cryptically that “decentralized finance is the future,” and that he was about to announce something “HUGE.”
📌 Crypto Macro| ETH Gwei hits 0 （Aug 11）
ETH Gwei hit 0 on the 11th of August.
The Dencun upgrade has continued to lower gas fees on the Ethereum network, resulting in less ETH being burned under the EIP-1559 mechanism. Since April of 2024, Ethereum has become increasingly inflationary as the issuance of new ETH has begun to exceed the amount burned.
📌 Meme| SOL memes broadly fall, PvP environment blamed (Aug 11)
Analysis shows that only 1.4% of Pump.fun coins will bond to Raydium. Tokens which maintain $10 Million market cap for multiple weeks are less than 0.001% of the total tokens on the platform.
Market Update 📣
Last week, the primary NFT PFP projects that saw significant sales included BAYC, Crypto Punks andAzuki. These collections are famous for their charming characters and distinctive designs, which make them very popular in NFT market.
Chromie Squiggle, Winds of Yawanawa and Ringer stood out as the main NFT Art projects sold last week. Ringer 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 👀
DEX|JUP agrees to burn 30% of team supply(Aug 05)
Jupiter Exchange supply reduction proposal passed, 3 Billions of $JUP will be burnt over time.
Meme|PAC burns 50% of supply(Aug 6)
Pacmoon migrated to Solana, renamed to Army and just burned 50% of the $PAC supply. Their token changed from $PAC to $ARMY.
Meme|Memecoins are one of only sectors up this year(Aug 6)
NFT|DeGods rise 60% after announcing DeGods HQ(Aug 7)
DeGods floor price is up 60% and back over 1 ETH after the team announced "DeGods HQ". DeGods HQ: All communities of the ecosystem are merged, including: DeGods, y00ts, BTC DeGods.
NFT|Top Ordinals lead NFT gains, all up 20-40%(Aug 7)
Defi|Trump family continues to hint at new coin(Aug 8)
From Donald Trump Jr’s Twitter: We’re about to shake up the crypto world with something HUGE. Decentralized finance is the future—don’t get left behind. #Crypto #DeFi #BeDeFiant
NFT|Immutable shuts down NFT marketplace(Aug 8)
The Immutable Marketplace will officially retire on August 13, with a complete redirection by September 27. Users' assets remain available on-chain and accessible through various platforms.
Meme|Pump(.)fun makes coin creation free (Aug 9)
Pumpdotfun makes coin creation free and now offers coin creators 0.5 $SOL when their coin complete its bonding curve.
Game|Animoca valued 75% lower than 2022(Aug 10)
According to DLNEWS, Animoca Brands co-founder Yat Siu said that Animoca’s current secondary market valuation is about $1.5 billion, which is nearly 75% lower than Animoca’s valuation in July 2022, when the company announced that it had raised $75 million at a valuation of $5.9 billion.
Weekly NFT Marketplace Trading Volume Across Major Blockchains 📣
Over the past week, the NFT marketplaces reduced to a total volume of $80.3 million in total. ETHEREUM surpassed Polygon again and retake its 1st rank，with 41% market share.
Credit to : @NFTpulse