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The Most Controversial Crypto Launch in Recent History

Blast mainnet launch issues and new ponzinomics, plus Tensor battling wash traders

March 01, 2024

Today’s issue is brought to you in partnership with Tensor - the #1 NFT marketplace on Solana that is built for traders.

GM Dogs 🐶,

It’s been a crazy last 24 hours with the launch of the Blast mainnet, and we cover all the top action there as well as today’s other top stories, movers and upcoming mints.

!woof

Top Stories

  • Blast mainnet launches but many early access users are still not able to bridge across or even connect due to website issues. Early users paid upwards of $300 in gas to bridge as GWEI spiked

  • A 10x points multiplier was applied to early adopters who will continue to earn Blast Points, although this is removed if you withdraw your funds

  • Protocols backed by Blast points are offering boosted rewards for early participants, such as the no fee DEX Thruster, and the perps DEX SynFutures

  • CryptoTwitter found an unofficial bridge 8 hours before Blast mainnet officially launched. Over 100 memecoins were deployed in the first few hours and we saw the rise and fall of coins such as $BCAT and $FINGER

  • $PUMP (memecoin) by loomdart launched on Blast via Thruster and started trading once allocations from Wassies and Bridgers were 20% claimed. The token ran up to a $360M market cap before settling in the $20M range. Wassies are down 32% to 1.049 ETH

  • Tensor temporarily pauses points on some collections, and new/edited bids will have a “warm up” period where they are not earning points in efforts to combat wash trading

  • MagicEden flips Blur as the top NFT marketplace across all chains, with over 40% market share vs Blur at 22% and Tensor at 10%

  • Robinhood is relisting Solana in Europe, with some calling this “The biggest rug they’ve seen”, by forcing users to sell their SOL at $15 and now offering it at almost 10x higher. WIF is also added, which just hit $1

  • Robinhood is also partnering with Arbitrum to unlock DeFi and cross-chain swaps for its users

  • Winklevoss twins will return $1.1B to Gemini customers in from their Earn product fiasco, after reaching a settlement with Genesis

  • Vanguard CEO Tim Buckley steps down amid the current BTC run. Vanguard vehemently opposed the BTC ETFs and banned them from their platform

  • Puppet Maxi Biz by MKUltra minted and flew out of the gates, currently at 0.023 BTC, and Bitcoin Puppets are up 30% to 0.23 BTC

Bodoggos 🤝 Tensor

Tensor is the #1 marketplace on Solana, with more buyers and sellers than any other marketplace on the chain.

With its lightning-fast UI that updates in real-time, it was an easy decision for us to partner with them.

Top Movers

BTC

ETH

SOL

CRYPTO

  • PEPE +5.5% to $1.3B market cap

  • WIF + 17% to $0.95

  • PORTAL -10% to $2.35

Upcoming Mints

Dog of the Day

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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.