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Bitcoin continued it's run up this week reaching highs of around $44k, however, it has fallen over the last 24 hours to around $40k. Markets never go up in a straight line and many were expecting at least a speed bump. Ethereum, and the wider crypto market followed suit, although the bounce-back appears to have already begun.

Once again this year, in the broader crypto world, Solana appears to be the star of the show. This time with 90 million token airdrop for almost 10,000 users of the Jito platform.

This additional liquidity spilled over into the rest of the Solana ecosystem with the price of Solana jumping even higher at the same time as NFTs across the ecosystem pumping.

Tensorian NFTs which were trading for 20 SOL just a few month back are trading as high as 120 SOL while the underlying asset has more than doubled in value too. This has been boosted further due to speculation of an airdrop there too.

There was an old meme that NFTs were a leveraged bet on the Ethereum ecosystem, and while that myth was broken in the bear, it is currently ringing true for many in the Solana ecosystem.

Not to be outdone, several sleeping giants have confirmed their plans for an airdrop within the Ethereum L2 ecosystem including both Starknet and LayerZero. I shared some details on these here.

Meanwhile within the Ethereum NFT ecosystem, Bored Apes are looking like a stablecoin right now sitting around 30 ETH, while the Pudgy Penguins continue their epic run with the floor price reaching as high as 12.7 ETH this week.

However you look at it, it's hard to argue that we're still in a crypto winter.

Onwards...

- @nuconomist

HODL: VanEck Bitcoin ETF Uses Laser-Eyed Lingo for Ticker - Decrypt

VanEck seems to be targeting the current crop of Bitcoin users or at least aiming to get recognition by association. They have settled on the HODL meme for their ticker in a nod to the infamous Bitcoin Talk forum post. Definitely a departure from your grandparents retirement fund.

Ethereum Layer-2 Starknet reveals STRK Token Airdrop - Decrypt

While the excitement about airdrops this week is pointed towards Solana, StarkNet is another network that is potentially a sleeping giant. They recently confirmed plans to allocate over 1.8 Billion tokens to community members and stakeholders with the first phase launching "soon". If you haven't explored the network, now might be a good time to start looking.

NFT Market Cap (ETH): Ξ 6.8 Million 🔼 | $15.02 Billion (+3.0%)

Weekly NFT Volume (ETH): 86439 🔼 +4.37%

Weekly NFT Traders: 51919 🔼 +0.16%

Weekly NFT Loan Volume (USD): $150.4 Million 🔼 +3.29%

Weekly NFT Deposited as Collateral: 5192 🔼 +6.13%

Note: I have spoken with one of the NFTFi platforms, who belives the NFT loan stats may be under-reported and missing some contracts. I will update if I get more information. The source of the NFTFi stats is here.

Bored Ape Yacht Club: Floor: 29.99 ETH 🔼 | Volume: 15k ETH 🔽

Reebok Follows Nike into Digital Fashion and Gaming, with an AI twist - Decrypt

The metaverse sneaker wars have arrived. While Nike was an early mover in this space with their CryptoKicks patent and RTFKT acquisition, they are no longer alone. Adidas and Puma have already dropped special edition collectibles this year and now Reebok have partnered with Futureverse for an AI enhanced experience launching early next year.

Pudgy Penguins Reveal "Pudgy world" NFT Game Rollout Plans - Decrypt

The rising star of Ethereum NFTs has announced that they will be launching a game that utilises the ZKSync layer-2 network early next year. While few details are available so far, they have released a fun trailer. It's also worth nothing that ZKSync have previously stated plans for an airdrop, so players here might put themselves in a good position for a future bonus too.

When markets start to get a bit frothy, it can feel like you need to go all in ASAP. However, anyone that has been around for more than a minute knows what goes up, can go down too and half of the game is holding onto gains. This post shares some thoughts on navigating the ups and downs when paired with a market that is constantly shifting narratives.

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