Hey folks, Welcome back! Here is a recap of all that happened in the crypto community over the last 24 hours.
With much excitement, the Pudgy Penguins launched their PENGU token with a Binance listing and an airdrop. With its launch, the token had soared to an astonishing 514.60% over the last 24 hours.
PENGU has a fully diluted valuation of $4.4 billion, based on pre-marketing trading data. With its listing on Binance, the token will have trading pairs with USD, BNB, FDUSD, and TRY. Further, at the time of launch, about 88,888,888,888 PENGU tokens were kept for circulation. Of this, about 25.9% was allocated to the Pudgy Penguins community while 24.12% was given to NFT projects like Azuki, Bored Ape, Mutant Ape, and Doodles. Further, the team members will take the remaining 17% of the shares. These shares will be locked for a year and vest for three years.
Following Pudgy Penguins, Ripple Labs launched RLUSD, a stablecoin pegged to the U.S. dollar. Compliant with the NYDFS requirements, the RLUSD is available for trading on platforms like Archax, Phantom, DEXScreener, MoonPay, etc. Ahead of its launch, Ripple CTO David Schwartz alerted traders of early supply shortages and price volatility. He further stated that even if short-term fluctuations occur during the launch period, arbitrage activities would quickly stabilize the price.
Pudgy Penguins NFT Floor Price Hits $108K Surpassing BitcoinMoving ahead with new initiatives, Binance, one of the largest crypto exchanges, has announced the launch of its Binance Alpha, a new platform integrated into its wallet. The platform, which is set to launch today, will be introducing tokens in three waves from December 18-20. The main feature of this platform is its Quick Buy feature, which is a better option than traditional DEX trading. Notably, the feature has automatic native chain token selection, smart slippage adjustment, and anti-MEV mechanisms designed to protect users against potential phishing attacks.
On the market front, Ethereum is speculated to witness a price surge with an increase in whale activity. Market observers state that about 57% supply is being controlled by whales, which raises concerns over the centralization of the crypto. According to Santiment data, about 104 whale wallets have over 100K ETH worth around $333.1 billion. With an increase in whale activity, the market looks optimistic for ETH investors.
With Bitcoin soaring above $107K, Metaplanet has hinted at another purchase. The Tokyo-based firm has plans to sell zero-interest bonds worth 4.5 billion yen ($30M) to purchase more Bitcoin. The firm would repay bonds using funds from previously issued warrants to manage debt. By accumulating Bitcoin, the firm is using it as a hedge against Japan’s debt and the price volatility of the yen. Interestingly, Metaplanet’s Bitcoin strategy is synonymous with U.S.-based MicroStrategy.
Will Google’s Chip ‘Willow’ Affect the Growth of Bitcoin?The market is looking optimistic with several tokens poised for a bull run. Sandbox’s SAND is speculated to hit a new all-time high in the first quarter of 2025, with an increase in adoption and metaverse. According to its liquidation map data, the shorts dominate the longs. Despite the shorts leverage, the outcome for SAND is optimistic. With partnerships and investor interest, demand for SAND will shift its sentiment from a bear fall to a bull run.
Following up close, the Vana Network launched its VANA token yesterday. Developed by the Open Data Labs, the token will enable users to own, monetize, and govern their personal data, thus making a fundamental shift in data ownership. With its testnet, the token attracted about 1.3 million users and generated over 6.5M data to train user-owned AI models. Following its launch, the token was listed on Binance and Bitget thus offering clients security and ownership over their data.
With the market facing cyberattacks, the fintech giant Revolut has proposed to bring a new payment solution, Revolut Pay. With this new solution, the firm asserted that it will strengthen users against potential phishing attacks and scams. During its 12-month pilot program, over 50% of users had fewer cyberattacks. This was possible due to its features which include KYC name match and proof of crypto transfers. Further, these features are enabled to allow only authorized users for operations.
On the regulation side, an NFT gaming project, CyberKongz, criticized the U.S. SEC for issuing a Wells notice against it. Considered to be an enforcement action alert, the gaming project stated that the SEC was targeting them based on their NFT sale in April 2021. In response to the notice, the project posted an image on their X profile, stating that they are fighting for the industry. Notably, the Wells notice is issued by the SEC to let the recipient know of an impending enforcement action. Further, a formal response is expected from the recipient within 30 days of issuance.
On an overall note, the crypto world witnessed several developments with the launch of new tokens and innovations in crypto exchanges. Further, with creativity and adaptability, the industry is moving towards transformative progress.
