Todays Top Stories

Editor: @PhoenixxDown

OpenSea Ordinals Support Soon? (wen token?)

There’s no denying that OpenSea has struggled since its ascent to the dizzying heights of NFT marketplace supremacy a couple of years back. While challengers like x2y2 never really took off despite having the lowest trading fees, and Blur.io was eating OpenSea’s lunch for a long time until the NFT market collapsed.

Meanwhile, Magic Eden has found success by doing the opposite of what OpenSea did: listening to its users. there’s a token on the way, is constantly developing and releasing updates, and has built a brand image that resonates with the average user in the space.

That said, OpenSea is still the preferred platform for many to conduct business for their ETH NFT sales, and its layout is much more favorable for some, perhaps due to familiarity. Either way, attention has somewhat returned to OpenSea in recent times as Blur has begun to fade away.

Some believe that the best days for OpenSea are behind us…but is all that about to change? Well, something is afoot! The OG NFT platform has announced its 2.0 version coming in December, and already there are 250,000 people on the waitlist.

Could this be the revamp that the platform has sorely needed? We know what you’re thinking: “Ordinals support or I’m not interested.” According to some reports, that could soon be a reality.

One cannot fathom how Ordinals can be overlooked at this point if OpenSea wants to compete with the vigor of Magic Eden, which has made assets on Bitcoin its primary focus. The volume has been there for some time; they’ve missed out on an eye-watering amount of platform fees for not implementing it already, so it’s a given that Ordinals are surely on the radar of OpenSea.

However, OpenSea has a history of disappointing with these announcements. Remember Gems? What were those for?! So with that in mind, temper your expectations just in case.

But isn’t it interesting? We have been hoping for CEX listings all this time, when in actual fact, OpenSea support with a huge improvement in user experience could have been what we really needed all along! A mutually beneficial outcome for everyone!

Daily Alpha | Parent-Child Structures: The Community Debates

Casey Rodarmor recently delved into the topic of parent-child collections for on-chain assets, sparking a lively conversation. This follows a recent post in which Rodarmor expressed a desire to become more of an ambassador for the protocol he created, though in a cautious and thoughtful way.

In the post, Rodarmor noted parent-child to have potential to streamline metadata management and increase trust in collection provenance. By using a parent inscription to group related child inscriptions, creators could ensure that items in a collection remain traceable to their origin without the need for continual metadata re-submissions across platforms.

Rodarmor suggested that marketplaces could encourage users to inscribe collection metadata, creating a more immutable structure. However, he also recognized challenges, such as preventing misuse and managing multiple collection types if parent-child structures became widely supported.

Some responders, like @SenseWasHere, argued that supporting parent-child collections would provide a needed solution for defining legacy collections on-chain. Conversely, others like @Psifour said they still dislike parent-child and offered reasoning why.

Rodarmor recently faced criticism for the launch of Momento Mori, with some believing it drained liquidity from an already struggling market. Criticisms ranged from claims of thoughtlessness to more extreme accusations, including being labeled a follower of Satan by Francis Dhun, who initiated an online crusade against him for a day or two.

For the rest of us, it’s great to see Rodarmor’s role shifting and hints at a more relatable and interactive role with the community.

Daily Alpha | Magic Eden Introduces Full Mempool Protection

Magic Eden has launched Full Mempool Protection (TMP) for Bitcoin Ordinals—a major update aimed at tackling “mempool sniping,” a notorious issue in Bitcoin transactions. Enabled by Bitcoin’s Replace-By-Fee (RBF) function, mempool sniping allows third parties to intercept transactions by offering higher fees. This disrupts genuine buyers and has discouraged potential users who might otherwise be interested in Ordinals.

Magic Eden’s TMP is designed to eliminate the risk of sniping by using Bitcoin’s “SIGHASH_ALL” signing mode, which locks in transaction outputs so they cannot be replaced. Sellers listing protected Ordinals only need to sign once, keeping assets secure in their wallets until a purchase is complete. Buyers can see a shield icon next to protected listings, providing assurance that these transactions are safe from snipers.

Leveraging Bitcoin’s Tapscript, Partially Signed Bitcoin Transactions (PSBTs), and Schnorr Signatures, TMP creates a robust, seamless transaction flow even during network congestion. This innovation not only secures transactions but also supports Bitcoin’s ethos of decentralization.

TMP will soon extend to Runes, solidifying Magic Eden as a trailblazer for secure, user-friendly on-chain trading and hopefully making Bitcoin a more appealing option for users of other chains who were previously skeptical about returning!

Daily Bites

Todays Markets

Ordinals

NodeMonkes and Bitcoin Puppets once again occupy the first and second spots on the daily volume leaderboard, with figures of $145K and $128K respectively. To put things into perspective, the volume of 3rd, 4th and 5th doesn’t add up to even half of Puppets volume alone. With this constant gap in sales volume separating them from the pack, it’s all but confirmed these two collections are poised to assert dominance as the premier blue chips in the year to come.

Skullx minted out successfully, but the current conditions remain tough for any new collection to launch in. As a result, we’re still not seeing hyped mints achieve multiple x’s upon mint out. The collection is just about holding mint price at present, so if you missed out last night, now is your chance.

In the bottom half of the top 10, OCM storms into 8th place, with a flurry of sales in the past 24 hours, almost doubling its volume. In other areas, things remain rather stagnant, with daily fluctuations in volume for collections like OMB and Bitmap, which regularly frequent the top 10.

Notably, The Wizards of Ord have been holding steady and making frequent appearances in this leaderboard. With a supply of only 3.3K and a highly respected, innovative founder in @lifofifo at the helm, some would argue they are a great long-term bet while prices are at this level.

Runes

Looking at the Runes charts today, despite the sea of red, it could be much worse. The top five are down, but none have encroached into double-digit decreases, which is an improvement compared to some days in the past few weeks when sell-offs have occurred.

We saw a lot of green yesterday, so pullbacks were to be expected, especially for Momento Mori after its 34% surge.

Perhaps the big question for tomorrow centers around how PUPS will fare, as today is the last day for migration from the old contracts and BRC-20, to the new World Peace standard. How much will be left unmigrated? And what will happen to that remaining supply? We can’t wait to find out; exciting times ahead!

The bottom half of the top 10 features RSIC in a comfy 6th position; a spot right on the cusp of top and bottom, which is very representative of the rune itself! Nobody knows whether it’s a top asset destined for greatness or just speculative mediocrity.

Cypher Genesis continues its recovery from the depths, holding its price above the $1M market cap mark. The Donald Trump sees a drop likely due to election uncertainty and some derisking, as it is essentially a highly leveraged bet on his victory in the election.

You’ll notice Tanuki Wisdom as the newcomer in 10th spot. This rune is 100% premined, appearing to be an airdrop. Some have been buying on secondary markets, but it’s advised to exercise caution until more information is known about this one.

Todays Opportunities

ExtraOrdinals Whitelisted Mints This Week

This is the last mint for this week. Check back next week for a full new list.

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!