Weekly Review: Trump's official memecoin, and WLFI's purchase of crypto asset...
NFT Weekly News #81 13th January - 20th January
NFT News Weekly Update #81
(13/01/2025-20/01/2025)
GM
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Top News 🔝
📌 Meme | Trump launches memecoin (Jan 18)
US President-elect Donald Trump has launched his own cryptocurrency, which quickly soared in value.
His release of the meme coin, $Trump, comes as he prepares to take office on Monday as 47th president of the US.
The venture was co-ordinated by CIC Digital LLC - an affiliate of the Trump Organization - which has previously sold Trump-branded shoes and fragrances.
📌 Defi | Trump-Linked Crypto Platform WLFI Throws Over $100M on WBTC, ETH, Other Tokens Ahead of Inauguration (Jan 18)
World Liberty Financial, the DeFi platform linked to incoming President Donald Trump, bought over $100 million worth of tokens within a few hours on Monday morning. The protocol purchased wrapped bitcoin (wBTC), ether (ETH), Tron's TRX, AAVE, Ethena's ENA and Chainlink's LINK, on-chain data showed.
Market Update 📣
Last week, the primary NFT PFP projects that saw significant sales included 10 Crypto Punks. The collection is famous for their charming characters and distinctive designs, which make them very popular in the NFT market.
Credit to: @Deepnftvalue
Other News 👀
📌 AI Agent | Virtuals pauses new agents after mintable exploit (Jan 17)
Several tokens migrated earlier on the 17th Jan were mintable, therefore the creator was able to mint additional tokens and sell into the liquidity pool created on Virtuals.
In order to better protect users, Virtuals integrates an audit service to filter out scam tokens that are being migrated. For the time being, token migrations have been disabled while we implement the integration.
📌 CEX | Coinbase to list AIXBT & PNUT perps (Jan 17)
Coinbase International Exchange is set to launch several new perpetual futures contracts. Starting January 16, 2025, at 9:30 AM UTC, the exchange will list Sonic ($S) perpetual futures, along with AI memecoin $AIXBT, Solana memecoin $PNUT, and $VET perpetual futures.
📌 L2 | Abstract announces incentives program (Jan 17)
Abstract Chain, developed by Igloo Inc., is an Ethereum Layer 2 blockchain focused on simplifying crypto for mass consumer adoption, with its mainnet launch scheduled for January 2025.
On Abstract Mainnet, users and creators using Abstract apps and streaming via the Abstract Global Wallet earn XP. For example, builders will receive awards from the success of their apps. Abstract users earn XP by engaging with the chain and having fun.
📌 NFT | ANIME to launch Jan 23rd (Jan 17)
📌 Prediction market | CFTC may probe Super Bowl futures trading on Crypto.com (Jan 13)
The US Commodity Futures Trading Commission is reportedly deliberating whether it should look into the legality of Crypto.com’s futures contracts allowing bets on football matches, including the upcoming Super Bowl.
📌 Prediction market | Kalshi names Trump Jnr as advisor (Jan 13)
Donald Trump Jr. is joining prediction-market startup Kalshi as a strategic adviser, a hire that could help the company expand its betting business.
📌 DEX | Jupiter Reveals Details for Jupuary Airdrop Claiming Process (Jan 21)
Jupiter's Jupuary airdrop, worth around $575 million in JUP tokens, kicks off on January 22 with a flexible 3-month claim window. Token distribution targets active users, with tiered allocations based on activity, rewarding high engagement across different categories.
NFT Chain Volume 💎
Over the past week, NFT marketplace volume went up to $231.9M million from $184.8 million in the previous week.
Ethereum claimed the top spot with a 74.9% market share while with $173.8M chain volume. Polygon secured the third position with a trading volume of $15.7 million, capturing a 6.8% market share.
Top 3 NFT PFP projects by volume are the same as two weeks past: Azuki, Pudgy Penguins, and Azuki Elemental, with 7-day trading volume at 12.4K, 6.7K and 4.5K ETH respectively.
Credit to : @NFTpulse
Memecoin Market Cap and Volume 🔑
Last week, the market cap for memecoins went up to $116.9 billion on January 20th, 23.52% increase from the previous week.
The weekly trading volume totaled approximately 87.36 billion, reflecting a 18.39% increase compared to the previous week.
Credit to : @CoinMarketCap