Mar 1, 2024

Punks To The Moon 🚀🏦🖼️


Punks To The Moon 🚀🏦🖼️ Valko

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Specs’ Insights

Alien CryptoPunk (#3100) receives a 4,250 ETH bid worth $14.7M

⌐◪-◪ → Punk #3100 just received an insane $14.78M bid, which if accepted would make it the 2nd largest CryptoPunk sale of all time (in USD). For context, the largest sale is $23.3M.

The $14.78M bid would generate a 50 ETH profit (+1% ETH) for the owner, nothing huge, but it’s almost enough to buy another punk (57 ETH floor).

However, in dollar terms, the current owner would realize a 2x return, as the price of ETH was $1,800 at the time of purchase.

The current owner responded to the massive bid by lowering their previous “ask” (sale price) from 4.89k ETH to 4.71k ETH, which looks like it backfired as moments later the bidder withdrew their $14.78M bid.

The punk is still listed, and there’s obviously an interested buyer out there, so I think there’s still a chance it sells — but for now, the bidder has retreated.

If this is any indication of how much people are willing to pay for high-status digital assets, then this NFT cycle might be more wild than the last.

If you want to dig deeper into CryptoPunks and explore the full collection, head over to CryptoPunks.eth. It’s always fun to shop.

Let me know what you think in Specs Chat!

Bank of America and Wells Fargo now offer spot BTC ETFs to clients

⌐◪-◪ → Just when we thought things couldn’t get any more bullish, two of the largest banks in the United States announced that they are now offering spot Bitcoin ETFs to their clients.

This underscores the increasing acceptance of Bitcoin by Wall Street and other mainstream firms; however, not all firms are playing friendly.

Vanguard is one of the largest firms holding off, saying that “crypto is more of a speculation than an investment” and isn’t allowing their brokerage customers to invest at all.

However, it looks like that decision aged like milk, as the Vanguard CEO announced he’ll be stepping down.

The real question is → will his replacement keep shunning Bitcoin, or will they decide to bring Vanguard into the future?

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Magic Eden is now the #1 NFT marketplace with a 40% market share

⌐◪-◪ → It looks like we have a new leader in what I’m dubbing “The Great NFT Marketplace Race”.

NFT trading volumes, once dominated by OpenSea, and then by Blur, are now controlled by Magic Eden — with over 40% market share in the last 24 hours.

This comes off the heels of Magic Eden’s new Ethereum Marketplace, which launched earlier this week.

In credit their success to the premier partnership they landed with Yuga Labs, Pudgy Penguins, Azuki, and others — which are focused on enforcing creator royalties, a contentious topic among NFT collectors.

With that said, there is a lot to be said about their focus on Ordinals over the last few months — which built a lot of baseline momentum ahead of their Ethereum Marketplace launch.

Congratulations to the Magic Eden team, specifically whoever’s in charge of partnerships — flawless execution.

Now let’s see if they can maintain the #1 spot for more than 24 hours.

Let me know what country you think has been secretly buying Bitcoin in Specs Chat!

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Everything Else

⛓️ Crypto & DeFi

🏦 Wallstreet & VC

🏛️ Legal & Regulatory

🌎 Rest of the World

  • Nigeria detains Binance executives, demands $10B in fines

  • Hong Kong receives applications from 22 crypto exchanges

  • BlackRock’s spot Bitcoin ETF to start trading in Brazil today

🖼️ NFTs & Metaverse

  • 'Gods Unchained' NFT card game hits iOS and Android

  • Orangie, Rug Radio creator, reviews Otherside beta test

  • Blur teases “something new” is coming in April

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Specs Chat is more than just a group chat, it’s a community designed to help you become a better crypto investor and operator.

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