ExtraOrdinal Daily #37 | We're Going HIGHER!

31st Oct 2024 ||| Issue #37
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Table of Contents

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Todays Top Stories

MEMENTO•MORI Mints Out Smoothly

The MEMENTO•MORI Rune mint concluded late last night, and while the event was more subdued than many anticipated, it was far from disappointing!

Earlier in the day, half of the MEMENTO•MORI supply was airdropped to 2,908 lucky Hell Money Podcast patrons. As secondary trading began, early sales reflected a Rune market cap around $22 million, delivering massive returns for early traders; some early sellers reportedly earned mid-five figures off a few hundred dollars spent on Patreon subscription fees!

When the public mint opened at block 868,186, an intense rush ensued, with fees soaring past 1,000 sats/vB as participants competed for the remaining supply. Some managed to secure entries around the 2 million market cap mark due to favorable block conditions.

Now, with the mint closed and all Runes distributed, MEMENTO•MORI has already secured a CEX listing at CoinEx Global.

Before the MEMENTO•MORI mint, there were concerns about its potential impact on the wider market. Past events have sometimes had negative effects on other Runes as funds flow to miners who don’t reinvest in the ecosystem. Additionally, many sellers offloaded assets pre-mint to raise liquidity, briefly impacting established Rune floors, with Gizmo taking the hardest hit at a 25% dip.

Fortunately, the event wasn’t as disruptive as many had feared. The mempool remained manageable, with fewer lengthy blocks and more moderate fees, preventing the liquidity drain that some anticipated. This leaves room for a faster recovery, which is a relief to those who expected a longer wait.

Daily Alpha | Saylor’s Next Bitcoin Power Move

MicroStrategy, already known for its mega Bitcoin holdings, has doubled down with an ambitious “21/21 Plan” that has everyone buzzing! CEO Michael “There is no second best” Saylor, a long-time BTC proponent, has a simple yet massive goal: to raise $42 billion over the next three years, with $21 billion in equity and $21 billion in fixed-income securities, all of it earmarked for Bitcoin purchases.

As a result, MicroStrategy could soon be snapping up nearly $40 million worth of Bitcoin every day, an impressive scale given that only around 492,750 BTC will be mined over the same period. With this “Saylor Put” in place, MicroStrategy might be setting an unofficial price floor for Bitcoin, creating a strong signal for both retail and institutional investors to join in.

Let’s not get ahead of ourselves, but this kind of plan could disrupt the typical cycles of bear and bull markets. If Saylor’s BTC strategy goes according to plan, we might see Bitcoin grinding higher, breaking from traditional patterns. Essentially, the long and short of it is "we're going HIGHER!"

Daily Alpha | MUERTOS•VIVOS Airdrop Mystery

Yesterday, a surprise airdrop delivered MUERTOS•VIVOS Runes to selected $GOB holders, sparking curiosity across the community. The airdrop, without any official announcement or endorsement, left many speculating about its origins.

Interestingly, the MUERTOS•VIVOS tokenomics mirrored the recent MEMENTO•MORI Rune, and the name, meaning “Living Dead,” carries themes similar to the 2007 punk album Muertos Vivos by Gob, as well as “memento mori” symbolism.

Even GOB insiders were left guessing, with some suspecting it might be a fan tribute or easter egg. The mystery has left many eagerly watching for further connections or clues about its purpose. Read the response from the GOB team here.

Daily Bites

Todays Markets

Ordinals

Volume on the top Ordinals took a beating yesterday, with yesterday's leader, Quantum Cats, experiencing a 75% decline. Instead, NodeMonkes reclaimed the number one position with a 165% increase, though their floor price dipped by 9%, preventing them from overtaking their rivals, Bitcoin Puppets, which saw a 66% decrease in volume along with a small pullback in floor price.

A familiar face, Bitcoin Shrooms, has re-entered the top five. With only one sale of 1.25 BTC, they quickly got back into the thick of things.

In the bottom half, things have been quite interesting. The Wizards of Ord enjoyed more than a 1000% increase in volume, with 35 sold. However, their floor price only rose 18%, quite inexplicably. Their floor is quite thin after the 0.02 mark, but the unrelenting rate of listings from, presumably flippers, is astonishing and likely a big reason for the price suppression.

Additionally, AILU saw a 700% increase from yesterday’s numbers, with a much better 52% rise in floor price. Bitmap continues to chug along with a high rate of sales but is still far off from its ATH. There may be an opportunity for long-term bets if you're stacking up; the demand clearly hasn’t disappeared despite everything.

Runes

To absolutely no one's surprise, the day belongs to Memento Mori, which we featured in today's headliner. Over $8 million has been traded on the secondary market, and it’s now comfortably sitting at a $13.5 million market cap. The big question is whether it can maintain this momentum. Will attention wane once the next shiny thing appears?

Gizmo makes a great recovery after the panic selling of yesterday, likely from many traders trying to find last-minute liquidity for Memento Mori, rising almost 8% from that nightmare. There are slight decreases among the rest, but nothing catastrophic for DOG, PUPS, and BDC, who continue to firmly establishing their strength as leaders.

In the bottom half of the top ten, Age of Aquarius receives a sympathy bid in response to the Memento Mori fever. This Rune was closely linked to Erin of the Hell Money Podcast, so some are viewing it as a beta play.

RSIC refuses to give up the ghost despite no news for some time. Luce the Mascot of the Year rises slightly but is still a micro-cap play at just over $100K. Meanwhile, WANKO sees some action after a hard sell-off this past week. WANKO was the first Rune that Casey soft-shilled, so again this may be viewed as a beta play to Memento Mori.

Todays Opportunities

ExtraOrdinals Whitelisted mints this week

There are currently no mints taking place today, but check back tomorrow for what’s next so you don’t miss out.

Giveaways

Currently, there are no active raffles ongoing. However, more giveaways are expected soon, so join the Discord below and make sure you have notifications on so you don’t miss out when the next ones go live!

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Nothing in this or any other ExtraOrdinal Daily publication should be construed as financial or investment advice.

We trust this ExtraOrdinal Daily provided you with the information, insight and opportunities needed to have an ExtraOrdinal day! If you have any questions, suggestions, or a desire to contribute, reach out in the ExtraOrdinals Discord!

See you tomorrow!