Quick Take

• Weekly Trend: Over the past week, leading Bitcoin Ordinal projects rebounded despite global market sell-offs and recession fears. NodeMonkes and Bitcoin Puppets saw notable rallies in their floor prices. 

• Top Crypto.com NFT Drops: Exclusive Premium Web3 Domain Drop, The Tactical Gear Depot, As Good As It Gets, Project Ishin X Ashurawomens, Quantum Cryptonauts

• Notable NFT News: Ubisoft develops a new game on Arbitrum; Ronin’s bridge is hacked with $12 million lost; Immutable closes its marketplace.

Chart of the Week

Leading Bitcoin Ordinal projects rebounded over the past week despite recent global market sell-offs and recession fears. NodeMonkes, the largest Ordinal project by market cap, recorded US$2.56 million in sales over the last seven days. During this period, its floor price rose by 11.4% to 0.125 BTC. Another popular project, Bitcoin Puppets, saw $2.01 million in sales and floor price climbed by 12.0% to 0.091 BTC in the same period.

Other notable Ordinal collections also experienced price increases, which could be driven by the promotion of an Ordinal profile picture (PFP) project called Airhead from Arthur Hayes.

The following table shows selected top games by weekly volume in USD:

Gaming Token Performance

The total market cap for gaming tokens now stands at $17.89 billion, decreasing by -20.06% from last week.

News Highlights

• Ubisoft is developing Captain Laserhawk: The G.A.M.E. on Ethereum Layer-2 Arbitrum, featuring characters from Assassin’s Creed and Rayman. The community-driven project will allow players to influence the narrative through Web3 governance and various challenges.

• Ronin’s Ethereum bridge was attacked, resulting in a $12 million loss, but most of the funds have been returned thanks to white hat hackers. Ronin will audit the bridge code and work on improving its security structure to prevent future exploits.

• Immutable is closing its Immutable X Marketplace starting 13 August, fully ceasing operations by 27 September, to focus on supporting third-party marketplaces. Users’ NFTs and tokens remain accessible and active across various marketplaces using the Immutable Global Orderbook.

• Crypto Market Sizing Report H1 2024: Global crypto owners reached 617 million by the first half of 2024.

• Ethereum L2 Interoperability – The Super Chains: Our latest report looks into how Ethereum Layer-2-based solutions like ZKsync’s Elastic Chain, Polygon’s AggLayer, and Optimism’s Superchain address scalability and interoperability challenges.

• Exploration of Web3 Socials: We have seen a surge in interest in decentralised Web3 Socials in 2024. Our report looks into its recent developments, including Solana’s Actions and Blinks, as well as Farcaster and Lens on Ethereum. 

Interested to know more? Access exclusive reports by signing up as a Private member, joining our Crypto.com Exchange VIP Programme, or collecting a Loaded Lions NFT.

• What Is Fully Diluted Valuation (FDV)?: Fully diluted valuation (FDV) is a key metric to look into before buying cryptocurrency — here’s what it means and how to gauge it.

• How to Make the Most of Your Cronos (CRO) Holdings: Interest, rewards, and rebates: CRO, the Cronos token, offers lots of perks to Crypto.com users. Here’s how to receive them.

• Stop-Loss and Take-Profit Levels in Crypto Trading: Learn how stop-loss and take-profit levels are used to manage crypto trading risks.

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Authors

Research and Insights Team

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