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- ExtraOrdinal Daily #62 | NFTs Rally on ETH, Wen Ordinals?
ExtraOrdinal Daily #62 | NFTs Rally on ETH, Wen Ordinals?
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30th Nov 2024 ||| Issue #62
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Table of Contents
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Todays Top Stories
Editor: @GreenCandleJack
NFTs Rally on ETH, Wen Ordinals?
After witnessing the impact of Trump NFTs on Bitcoin and the brief Ordinals and Rune exuberance a few days later, the Ordinal community was in high spirits in mid-November. However, the past two weeks have been rather brutal for most collections and their holders. Trading volume is declining, and so are prices across the board.
Today, we’re seeing a massive resurgence on ETH. This momentum has been building this month where CryptoPunks were being snapped up at an unprecedented rate. Now, a massive green wave is sweeping across all top ETH collections.
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The last time Ordinal collections slowed down like this, it was a precursor to a massive pump. First, we endured the “Ordinals Are Dead” phase. Then came the “Runes Are Dead” phase. Both were ironically followed by huge revivals. So, the real question is: who or what needs to be declared dead now for us to rise from the ashes like a phoenix?
Casey, can we invent a new standard just to declare it dead, so we can spark another market resurgence?
In all seriousness, the market seems to be searching for a new narrative or catalyst, as it usually does. Until then, this might be the perfect time to scoop up collections that seemed out of reach during better days. Let’s be real—we all know what that one collector is thinking right now. (Not financial advice, of course.)
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The key takeaway here is to have a thesis or belief that’s guided by a strategy—not an emotional rollercoaster of decisions.
Take this time to reassess your strategy, tweak it if necessary, or simply take a step back. After all, you almost bought that Puppet, Nodemonke, or Pizza Ninja at 2x or 3x the current price. Consider this your Black Friday sale!
Whatever you decide, good luck and enjoy your weekend. Maybe touch some grass—or smoke some. Whatever tickles your fancy.
Seeing some Ordinals FUD
How many people out there still love JPEGs that are inscribed into Bitcoin blocks?
— Ord.io (@ord_io)
5:04 PM • Nov 29, 2024
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Top Stories | Bito Ordileone Dives into AI Runes
AI coins are the hot topic of the day, and more new ones are being etched every day.
I have gathered and reviewed all the AI #Runes in a single master thread so you don't have to.
Are AI Runes the new meta or is it all a short-term hype? Let's check what the buzz is all about.
— Bito Ordileone 🌹 (@bitoordileone)
4:29 PM • Nov 29, 2024
Bito Ordileone put out an amazing deep dive into the current AI Runes. With the massive hype on AI agent tokens across the industry and bitcoin runes still at very acceptable prices this is surely a good read for the weekend.
Top Stories | TAP AMMs on L1 a Thread
𝐓𝐡𝐞 𝐏𝐨𝐰𝐞𝐫 𝐨𝐟 𝐋𝟏 𝐀𝐌𝐌𝐬 𝐨𝐧 @tap_protocol
AMMs are the single most powerful catalyst for growing Bitcoin's DeFi ecosystem.📈
As the only ecosystem with L1 AMMs, Tap builders have incredible opportunities to leverage them to capture early OrdFi marketshare! 💰
🧵
— Tap Protocol (@tap_protocol)
6:57 PM • Nov 29, 2024
Daily Bites
Todays Markets
Ordinals
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Nodemonkes are drawing in all the liquidity today. As many of you know, Nodemonkes are sometimes regarded as the ETH cabal’s foothold in the BTC space. This seems to be yet another confirmation of that connection.
Nodemonkes pulled in more volume than the entire top 10 combined yesterday, surging nearly 30% today.
While Puppets made a significant attempt to keep up with the Monkes, it sadly didn’t translate into a win. Puppets and Runestones both remained stable, down less than 1%.
OMB also made a small upward move of almost 4%.
Quantum Cats—unsurprisingly—remained fairly stable, with a modest half-percent green move.
Based Angels are down 4%.
Here’s a funny coincidence: two totally unrelated groups of wizards—the Bitcoin Wizards and the Wizards of Ord—are both up about 27.5%. For the Wizards of Ord, this might be related to another chad feature added by Lifofifo to Rune Blaster, now free to use for all Wizards.
Bitmap remains stable.
Last but not least, the Pizza Ninjas broke their two-day green streak, ending the day down 6%.
Runes
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Runes don’t appear to be experiencing the same spillover of volume as Ordinal collections, which makes sense given their PFP glory rather than meme appeal.
When memes were pumping, so were Runes. It’s clear there’s some correlation between assets within a chain and even across chains within a narrative—even on Bitcoin, which often feels like its own little universe.
$DOG is topping the charts in volume but is down in value for the day.
In second place is the relentless Tanuki, which has been on a multi-day winning streak, even in mediocre markets and on the worst days. Whatever its wisdom is, it seems to be working.
$PUPS aren’t in their best form but managed a minor win of nearly 2% today.
Billy broke its losing streak and is up almost 4% today—a refreshing and welcome sight.
Cypher Genesis seems to be one of the less stable players, swinging wildly from being a major loser two days ago to a major winner yesterday and now back down significantly, off 7%.
The Organic Bitcorn market must be booming because Bitcorn is up another 44% today.
Gizmo also broke its losing streak, rising alongside its cat friend Billy. Gizmo is up 14% today—another very welcome sight.
RSIC stays relatively stable, as it’s known to do.
The new mint, Shrek is Love, debuted today and seems to be holding up well.
Lastly, Bitcoin Bro Bear closes out the rankings, down 18%.
Todays Opportunities
Minting This Week
There are currently no more mints taking place this week, but check back tomorrow for what’s next so you don’t miss out.
Giveaways
Here are todays giveaways 👇️
Dr Green - Ends Today
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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