ExtraOrdinal Daily #6 | 25th Sept 2024

25th Sept 2024 ||| Issue #6
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Table of Contents

Todays Top Stories

Are Early Inscriptions Being Overlooked?

PFPs and hyped collections tend to grab most of the attention, but there are categories that often fly under the radar. Art is a prime example, and so are historical pieces like sub-10K and sub-100K Ordinals. Are these once highly revered pieces being wildly overlooked?

In a recent X thread, @rgXser explored this very question, sharing insights on the value of early Ordinals inscriptions. They noted that early collections—especially those with fewer than 50k inscriptions—are scarce due to technical limitations at the time. These collections typically consist of around 100 pieces, resulting in smaller communities but increased rarity.

@rgXser emphasized the importance of finding early inscriptions that are original, non-spam, and visually appealing. Sound familiar? The OG ExtraOrdinals collection is just that: a 100-piece collection that slipped in under the 50K range with original artwork and, obviously, a thriving community behind it.

It’s likely this category will get its day in the sun, perhaps near the end of the cycle as the flow of funds generally reaches “luxury” items last. But, it is surely inevitable, that much we can gather.

Daily Alpha | Kraken and Runes: The Missing Piece?

Runes have seen a much-needed resurgence lately, but there’s still one huge missing piece of the puzzle that many are eagerly awaiting—Tier 1 CEX listings. Are they even going to happen, some are wondering!

In a recent Twitter exchange, @runetoshi21 asked Kraken's Vice President of Growth, Matthew Barby, why Runes, particularly $DOG, hadn’t been prioritized for listing. Barby acknowledged Runes’ potential but explained that integrating these assets requires new infrastructure, making it more complex than listing ERC-20 tokens. He assured that Runes are on Kraken’s roadmap but that resource limitations were delaying progress.

Then, Jan from Xverse stepped in, offering free infrastructure and guidance to help Kraken with the integration. Barby appreciated the offer and suggested a possible collaboration, although he stressed that Kraken would still need internal resources to make it happen.

The takeaway? Both sides seem open to discussions, and hopefully, they’re already working together to make it a reality.

Daily Alpha | Will TAP Win?

TAP continues to gain attention as the market heats up, and The Block Runner podcast recently questioned if it could dominate the Bitcoin Layer 1 metaprotocol space. Indeed, they highlighted TAP as the frontrunner, particularly for metaverse applications on BitmapOS.

TAP addresses Bitcoin’s programmability issues, which are crucial for enabling smart contracts. The latest roadmap includes features like account abstraction and internal balance management, positioning TAP as the go-to protocol for high-velocity applications in decentralized finance and the metaverse.

Unchained Art | Todays Editors Pick

Daily Bites

Todays Markets

Chart of the Day

Bitcoin is currently in Higher Low - Higher High structure on the Daily and testing into a major area of resistance at $64,251-65,358.

If Bitcoin can recover that area of resistance, the next major area of resistance is at roughly $68-70k.

Daily Higher Low structure would break on any Daily close below $57.5k.

Why is $65k such an important level? Bitcoin's first major High of the prior bull run was $65k, and this is also the most recent Lower High on the Weekly. Bulls want to see a close above $65k on the Weekly timeframe to break the Weekly down trend.

Ordinals

The Ordinals ecosystem continues to see astonishing volume, with Puppets leading the charge, racking up over half a million dollars in the past 24 hours! Nodemonkes are taking a well-deserved breather but still hold steady with a floor above 0.2 BTC.

Meanwhile, Taproot Witches have overcome their early hurdles and are now nearly double their floor price post-reveal.

Runes

A familiar face has returned to the spotlight—Waddle-Waddle-Pengu has broken into the top 5 after months of dormancy. Their recent surge seems tied to their first post on X in a month where they hinted at big changes coming soon.

Elsewhere, the usual suspects are in the top 5, with almost all making gains on yesterdays price.

Todays Opportunities

ExtraOrdinals Whitelisted mints this week

Check out the mints ExtraOrdinals giveaway winners have coming up this week:

Project

Mintdate

Price

Guardians of Ordinals

Sept 25th

0.0004 - 0.00111 BTC

Gomble Games

Sept 26th

Free

Panda Association

Sept 26th

Free

Space Mavericks

Sept 26th

TBA

Current 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!

Daily Alpha provides you with the information, insight and opportunities to have an ExtraOrdinal day in the Markets! If you have any questions, suggestions, or a desire to contribute, reach out in the ExtraOrdinals Discord!

See you tomorrow!