Coca-Cola Debuts NFT Collection on Base, MetaMask Integrates Apple Pay's 1-click Feature
Market Update
- Equities markets wavered higher as bond yields edged closer to decade highs ahead of retail sales data tomorrow. US10Y is currently at 4.20% and is nearing its last highest daily close of 4.24% in Oct '22, while the US02Y is at 4.96%, 0.12% away from its last highest daily close in Mar '23. This translates to a yield curve inversion between the 10 and 2-year of -0.76%, after putting in a local high of -0.68% a week ago. SPX and QQQ -0.07% are 0.2% and 0.5% higher from Friday's close. Bitcoin Historical Volatility Index (BVOL7D) is at historical lows at 2.7, having seen three such past occurences in the past five years. Unsurprisingly, BTC (+0.9%) and ETH (+0.7%) are relatively flat on the day, each trading between a 3% range since late July.
- Coca-Cola Debuts 'Masterpiece' NFT Collection on Ethereum Layer 2 Network Base. The NFTs combine iconic artworks, including Edvard Munch's "The Scream" and Johannes Vermeer's "Girl with a Pearl Earring", with contemporary pieces from artists such as Aket and Vikram Kushwah, all merging with Coca-Cola's signature bottle. Partly crafted using AI, the move reflects the brand's recent "Masterpiece" advertising campaign, partly crafted using AI. The NFTs launched as part of Coinbase's multi-week "Onchain Summer" event, which showcases the capabilities of the Layer 2 chain, the NFTs are available in eight versions, ranging in price from 0.0011 ETH to 0.014 ETH. Approximately 50,000 have been minted, with the minting process set to conclude this Wednesday.
- MetaMask Integrates Apple Pay’s “1-click” through Banxa Partnership. Among the eight on- and off-ramp services associated with MetaMask, only Banxa supports the purchase of Ethereum and other cryptos via Apple Pay’s “1-click” feature. While MetaMask had previously received criticism for user experience, a slew of updates are in the pipeline to refine the experience for its 30 million users. This specific integration benefits returning users who have completed the initial registration and KYC processes with Banxa. The goal is to streamline subsequent purchases, eliminating the need for repetitive steps. The update is part of a broader trend, with a growing number of users favoring non-custodial crypto methods over centralized options.
Daily Technical Strategy
Mark L. Newton, CMT
Head of Technical Strategy
Hedera's bullish breakout directly follows its launch of Calaxy, the pioneering social network and HBAR's gains are up 15% on Monday to the highest levels since mid-April 2023. This technical development is quite positive in an otherwise lethargic start of the new week for Cryptocurrencies and prices are just below the key 50% retracement zone of its prior decline from February. Given the huge uptick in volume and low to high range in HBAR, it's doubtful that $0.069 serves as much resistance, but that gains up to the 61.8% Fibonacci retracement area at $0.076 is achievable in the short-run, technically. Additional targets lie near February highs at $0.098 which looks achievable following any move back over $0.076. Overall, Monday's gains have jumpstarted some near-term acceleration for HBAR, and gains likely continue in the weeks to come. Support to buy dips lies near $0.06 but might not be reached short-term given Monday's upward progress.
Daily Important Metrics
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All metrics as of August 14, 2023 11:57 AM
All Funding rates are in bps
Crypto Prices
| Symbol | Market Cap | Last Price | Daily Change | Year to Date | Relative to BTC YTD |
 BTC | $575B | $29,576 | ↑ 0.75% | ↑ 79% | |
 ETH | $222B | $1,851 | ↑ 0.13% | ↑ 54% | ↓ -24% |
 ADA | $10B | $0.2918 | ↑ 0.15% | ↑ 18% | ↓ -60% |
 SOL | $10B | $25.12 | ↑ 2.51% | ↑ 154% | ↑ 75% |
 MATIC | $6.4B | $0.6842 | ↑ 0.89% | ↓ -10% | ↓ -89% |
 DOT | $6.1B | $5.03 | ↑ 0.41% | ↑ 16% | ↓ -63% |
 LINK | $4.1B | $7.54 | ↑ 1.58% | ↑ 36% | ↓ -43% |
 NEAR | $1.3B | $1.35 | ↑ 0.18% | ↑ 5.98% | ↓ -73% |
 DOGE | $0.0000 | $0.0001 | ↑ 0.00% | ↓ -100% | ↓ -178% |
Exchange Traded Products (ETPs)
| Symbol | Premium to Nav | Last Price | Daily Change | Year to Date | Relative to BTC YTD |
| GBTC | ↓ -25% | $20.34 | ↑ 2.63% | ↑ 145% | ↑ 67% |
| BITW | ↓ -49% | $12.71 | ↑ 0.24% | ↑ 137% | ↑ 58% |
| ETHE | ↓ -36% | $11.43 | ↑ 0.88% | ↑ 140% | ↑ 62% |
| BTCC | ↑ 0.18% | $5.42 | ↑ 0.74% | ↑ 79% | ↑ 0.34% |
News
QUICK BITS
CoinDesk Donald Trump Holds Up to $500K in Crypto The former U.S.president launched a NFT series last year. |
Coin Telegraph FedNow showcases DLT-powered payments system as service provider The Federal Reserve wrote that it does not support or endorse any showcase providers featured on its website. ... |
Decrypt.co Sam Bankman-Fried Is Going to Jail, Judge Revokes Bail Over Witness Tampering Disgraced FTX CEO Sam Bankman-Fried's bail has been revoked. He will be detained in jail until the start of his criminal trial in October. |
PRODUCT UPDATES AND PARTNERSHIPS
BTC Manager Coca-Cola launches NFT’s on Coinbase’s Base Coca-Cola, the world’s largest soft drinks brand, has launched its NFT collection on the new Coinbase layer-2 network Base. Coca-Cola has taken another stride ... |
Decrypt.co MetaMask, Banxa Roll Out '1-Click' Crypto Buys With Apple Pay Crypto wallet MetaMask now offers an optimized Apple Pay option thanks to fiat-to-crypto onramp and fintech firm Banxa. |
HACKS, EXPLOITS, AND SCAMS
Coin Telegraph Victim of 90 ETH exploit set to claw funds back after hacker was blacklisted The hacker’s wallet with more than $100K worth of USDT was blacklisted and frozen, while the Victim had been drained f... |
Coin Telegraph Zunami Protocol confirms stablecoin pools attacked, $2.1M loss estimated Blockchain security firm PeckShield estimates the protocol suffered more than $2.1 million from the price manipulation... |
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