Ripple and its native token, XRP, have been at the forefront of significant developments shaping the cryptocurrency landscape in late 2024. From Ripple’s Chief Legal Officer, Stuart Alderoty, criticizing the US Securities and Exchange Commission’s (SEC) regulatory tactics to XRP experiencing a historic rally fueled by political shifts and ecosystem advancements, the company and its token continue to capture the attention of investors and industry observers alike. Ripple’s Stuart Alderoty Condemns SEC’s “Lawless” Regulatory Tactics Amid Ongoing Appeals Ripple’s Chief Legal Officer, Stuart Alderoty, has once again launched a scathing critique of the US Securities and Exchange Commission (SEC), placing the spotlight on what he describes as the agency’s “lawless” approach to regulation. In a pointed tweet, Alderoty brought attention to the SEC's alleged misuse of its enforcement authority, accusing the agency of prioritizing its own agenda over adherence to the law. Alderoty’s remarks revisit themes from Ripple’s landmark legal battle against the SEC, a case that has become emblematic of the broader fight for regulatory clarity in the cryptocurrency sector. He noted that Ripple had made the crypto community aware of the SEC’s questionable tactics early in its litigation, prompting significant criticism of the agency’s methods. According to Alderoty, the court handling Ripple’s case observed the SEC’s habit of adopting litigation positions to achieve its desired objectives rather than demonstrating a commitment to faithfully interpreting and enforcing existing laws. Alderoty’s critique aligns with a growing wave of dissatisfaction among industry leaders and legal experts regarding the SEC’s regulatory framework. Critics have accused the agency of leveraging enforcement actions as a substitute for clear and consistent rulemaking. The SEC’s perceived lack of transparency has also fueled frustrations across the cryptocurrency ecosystem, with many industry stakeholders demanding actionable guidance rather than punitive measures. Ripple’s victory in its case against the SEC has further emboldened these calls, positioning the company as a leader in the fight for a more transparent regulatory landscape. Ripple’s ongoing battle with the SEC has already delivered a watershed moment for the cryptocurrency industry. In July 2023, the US District Court for the Southern District of New York ruled in Ripple’s favor, stating unequivocally that XRP is not a security. This decision dealt a significant blow to the SEC’s broader enforcement campaign, which has sought to classify various crypto assets as securities under its jurisdiction. The ruling provided Ripple and the wider crypto industry with a strong precedent as they continue to push for greater regulatory clarity. Despite the ruling, the legal battle is far from over. In October 2023, the SEC announced its intention to appeal the court’s decision, focusing on the classification of certain XRP distributions as securities. Ripple responded with a cross-appeal. As part of its preparation for potential remedies, Ripple has set aside $125 million in an escrow account. Prolonged Legal Timeline Both the SEC’s appeal and Ripple’s cross-appeal are expected to extend the case well into 2025. Briefings for the appeals are anticipated to last through the first half of the year, with arguments likely to occur in the fall. A final decision from the appellate court could follow shortly thereafter. This extended timeline has left industry participants eagerly watching for developments, as the case’s outcome could have far-reaching implications for the regulation of digital assets in the United States. Ripple’s case against the SEC has become a litmus test for the agency’s approach to crypto regulation. The ruling that XRP is not a security was celebrated as a victory for the broader industry, setting a legal precedent that many hope will curb the SEC’s aggressive enforcement actions. However, with the case now heading to appellate courts, the crypto industry remains on edge. The outcome could either cement Ripple’s win as a pivotal moment for regulatory clarity or breathe new life into the SEC’s efforts to assert its authority over the burgeoning digital asset market. As Ripple and the SEC prepare for the next phase of their legal showdown, Alderoty’s sharp critique brings attention to a critical issue at the heart of the debate: accountability. His comments are part of a broader demand from the cryptocurrency industry for a regulatory approach that prioritizes clear guidelines over litigation-driven enforcement. For now, Ripple continues to lead the charge for regulatory reform, and the stakes have never been higher. With billions of dollars and the future of crypto regulation on the line, all eyes are on the courts as this landmark case unfolds. XRP Surges Amid Political Tailwinds and Ecosystem Developments Meanwhile, XRP has captured the spotlight in late 2024, achieving its most significant rally in years, fueled by political developments, ecosystem upgrades, and growing adoption of its technology. The cryptocurrency reached a seven-year high of $2.90 on Dec. 3, 2024, before pulling back to $2.41, yet its momentum remains strong as attention shifts to what lies ahead in 2025. The rally marks a turning point for XRP, which had spent years in relative price stagnation. On Nov. 5, XRP began its sharp ascent, coinciding with Donald Trump's victory in the US presidential election. The President-elect’s pro-crypto stance has instilled confidence in the market, bolstering expectations for a regulatory environment conducive to innovation. Following the rally, XRP surged past Solana in market capitalization on Dec. 1, becoming the fourth-largest cryptocurrency. Data from CoinMarketCap reveals that XRP's market cap now stands at $138 billion, trailing only $2 billion behind stablecoin giant Tether’s $140 billion valuation. One of the most anticipated developments for XRP is the launch of Ripple's RLUSD stablecoin, recently approved by the New York Department of Financial Services (NYDFS) on Dec. 10. This dollar-pegged stablecoin is overcollateralized by fiat reserves and short-term cash equivalents like US Treasury bills, ensuring a 1:1 redemption ratio with US dollars. In addition to RLUSD, several other developments have contributed to XRP’s historic rally, cementing its position as a key player in the crypto space: 1. Pro-Crypto Political Tailwinds Donald Trump’s election victory in November 2024 ignited optimism across the crypto sector. Trump’s campaign featured pro-crypto rhetoric and promises of regulatory clarity, creating a friendlier climate for blockchain innovation. XRP, along with other digital assets, benefited significantly from this political shift. 2. Surge in Institutional Interest On Nov. 25, asset management giant WisdomTree filed for an XRP ETF, joining the ranks of Bitwise, Canary Capital, and 21Shares, which have also submitted applications to the SEC for similar products. The prospect of institutional-grade investment vehicles for XRP signals growing confidence in its utility and potential. 3. Market Cap Milestones By flipping Solana in market capitalization, XRP demonstrated its growing dominance in the cryptocurrency market. The achievement signals its broadening adoption and increasing relevance in the digital economy. 4. Regulatory Milestone for RLUSD The approval of RLUSD by the NYDFS represents a significant step forward for Ripple . With a secure regulatory foundation, RLUSD is poised to become a cornerstone of XRP’s ecosystem, driving adoption through remittances, decentralized finance (DeFi) applications, and cross-border payments. As XRP enters 2025, several factors are expected to sustain investor interest: Continued Adoption of RLUSD: The stablecoin’s integration into the XRP ecosystem is expected to drive transaction volumes, benefiting XRP holders through increased demand and token burn. Institutional Developments: The SEC’s eventual decision on pending XRP ETF applications could open the floodgates for institutional investment. Regulatory Clarity: With Trump’s administration expected to take a pro-crypto stance, Ripple and XRP could benefit from a more predictable regulatory environment. XRP’s historic rally in late 2024 suggests a perfect storm of favorable political developments, ecosystem advancements, and institutional interest. With the launch of RLUSD and the potential for greater adoption of the XRPL, the cryptocurrency is positioned for continued growth in the coming year. While challenges remain, including navigating regulatory uncertainty and maintaining momentum, XRP has emerged as a resilient contender in the cryptocurrency market, ready to capitalize on the opportunities that lie ahead.
Bitcoin surpassed $106,000, driven by optimism and institutional investments. Historical trends indicate December is typically a strong month for Bitcoin. Continue Reading: Bitcoin Surpasses $106,000 as Optimism Grows Among Traders The post Bitcoin Surpasses $106,000 as Optimism Grows Among Traders appeared first on COINTURK NEWS .
Bitcoin reached a new all-time high above $106,000 on Dec. 15, which was driven by bullish sentiment, speculation about its potential as a U.S. reserve asset, and supportive macroeconomic factors. Retail investors, particularly smaller ”shrimp wallets,” are very confident in the crypto as they are accumulating BTC, even as long-term holders sell large amounts. Analysts predict some price volatility for BTC, but still maintain a positive outlook for BTC's role in institutional portfolios. Meanwhile, Ethereum shows potential for a major rally in 2025, with analysts eyeing targets between $6,000 and $8,800. Bitcoin Hits New Heights Bitcoin’s price experienced a rally of nearly 5% on Dec. 15, which helped it reach a new all-time high above $106,000. Speculation that it may become a reserve asset for the United States also helped boost BTC’s price. CoinMarketCap data shows that Bitcoin peaked at $106,488 before retreating slightly to $104,736. This surpassed its previous high of $104,000 that was set on Dec. 5. BTC price action over the past 24 hours (Source: CoinMarketCap ) According to CK Zheng, the Chief Investment Officer of ZK Square, Bitcoin likely entered a “Santa Claus mode,” with investors fearing they might miss out and allocating more capital to the cryptocurrency. Zheng projected that Bitcoin could hit $125,000 by early 2025 but also warned that a 30% correction might follow. This could potentially bring the price back down to around $87,500. He believes that much of the bullish sentiment from the incoming Trump administration may already be factored into the current price. Speculation was also fueled by remarks from Strike CEO Jack Mallers , who suggested that President-elect Donald Trump might issue an executive order on his first day in office to designate Bitcoin as a reserve asset. Mallers thinks that such a move could involve a large purchase, though not on the scale of 1 million coins. Additionally, the CEO of the Satoshi Action Fund Dennis Porter , revealed that a third Bitcoin reserve bill is being drafted at the state level. Porter predicted that at least 10 states might eventually introduce similar legislation. On the macroeconomic front, financial analysts expect a 0.25% interest rate cut from the U.S. Federal Reserve on Dec. 18, which could provide even more momentum for Bitcoin’s price in the coming months. Another contributing factor is a new rule from the Financial Accounting Standards Board, effective for fiscal years starting after Dec. 15, which allows institutions to more accurately record the value of their cryptocurrency holdings. Crypto fear and greed index (Source: Alternative ) Bitcoin’s market sentiment is also still strong as the Crypto Fear and Greed Index shows a score of 83, indicating “ Extreme Greed .” This is the highest sentiment level since Dec. 5 when Bitcoin first jumped past the $100,000 milestone. Small Bitcoin Holders Keep Accumulating Bitcoin wallets holding less than 1 BTC, which are referred to as “shrimp wallets,” are expected to grow by almost 9% in the near term as small-scale investors continue accumulating, even as Bitcoin’s price remains above $100,000. CryptoQuant contributor Axel Adler pointed out this trend in a recent post, and shared that these smaller holders are demonstrating very strong confidence in Bitcoin’s long-term growth potential. Currently, there are about 323,000 shrimp wallets, which is a figure Adler predicts will increase to 351,000 in the near future. This will be an 8.67% rise. Adler explained that this accumulation trend started when Bitcoin was priced at $61,000, at which point there were 265,000 shrimp addresses. Since then, the number surged by 21.9%, which indicates consistent retail interest in Bitcoin despite its recent high valuations. While shrimp wallets show robust accumulation patterns, long-term holders, holding Bitcoin for over 155 days, have been selling big amounts of Bitcoin. Reports suggest that over the past 30 days alone, long-term holders sold 827,783 BTC, which could signal a market top. Despite the selling pressure from long-term holders, analysts believe Bitcoin’s near-term price dips may not be as severe as the 10% drop earlier this month. Bitfinex analysts shared in a recent report that realized profits and sell-side pressure have eased, reducing the likelihood of sharp declines like the one experienced during Bitcoin’s initial spike above $100,000. This suggests that while the market faces mixed signals, the growing retail interest from shrimp wallets may provide a stabilizing influence on Bitcoin’s price trajectory. Will a U.S. Bitcoin Reserve Lead to Volatility? On the other hand, a crypto analyst warned that Senator Cynthia Lummis’ proposal for the United States government to buy 5% of Bitcoin’s supply could lead to increased price volatility in the short term. Ben Simpson , founder and CEO of Collective Shift, suggested that while a move like this might cause Bitcoin’s price to surge initially, it could also result in a pullback as the market adjusts to the news. The proposal involves the U.S. government purchasing and holding 1 million Bitcoin for at least 20 years, and it especially gained a lot of traction after Donald Trump’s presidential election victory on Nov. 5. Bitcoin dominance dropped over the past 30 days. Crypto trader Momin noticed this trend, and predicted even more declines in Bitcoin dominance as altcoins gain momentum. However, Simpson believes that the transition into an altcoin season will likely be volatile rather than straightforward. Despite the potential volatility, analysts at Bitfinex are still optimistic about Bitcoin’s role in institutional portfolios. They noted that many altcoins have yet to achieve new all-time highs against Bitcoin. Bitfinex analysts also believe that any dips in Bitcoin’s price, even during the holiday season, are likely to be short-lived due to strong spot buying and reasonable leverage levels supporting the market. Meanwhile, global investment manager VanEck recently reaffirmed its $180,000 price target for Bitcoin in the current market cycle, and pointed out that the crypto bull market is only in its early stages. Analysts Predict Ethereum Rally in 2025 Some analysts are also excited about Ethereum’s prospects heading into the new year. Ether could even surpass its previous all-time high during the first quarter of 2025, according to market analysts. Despite its inability to hold above the $4,000 psychological threshold, ETH may be poised for a major rally. A market report by Bybit and Block Scholes revealed that the recent crypto market deleveraging could reset leveraged long positions, potentially paving the way for Ethereum to catch up to Bitcoin’s gains. Bybit analysts anticipate a new all-time high for Ethereum in Q1 of 2025, supported by strength in derivative markets and growing anticipation of price catch-up. Bitcoin, however, outperformed Ethereum as an investment in 2024 by far. BTC delivered a 54% return over the past six months compared to Ether’s 12%. Despite this disparity, analysts still believe Ethereum could rally to $8,800 based on an ascending triangle formation on the daily chart. The key level to watch is $4,100, which, if breached, could propel ETH toward its previous all-time high of $4,865 and beyond. The Long Investor, a popular crypto analyst, is just as confident in ETH’s trajectory, and gave Ethereum a target of $8,800. Historical patterns also support optimism for Ethereum. Venture Founder , a crypto analyst, pointed out that Ethereum typically underperforms Bitcoin for up to eight months after a Bitcoin halving before really gaining some momentum. As this cycle reaches the eighth month, the analyst predicts a potential ETH/BTC ratio of 0.39. Investor interest in Ethereum also continues to grow, and the creation of over 130,000 new Ethereum addresses daily in December is proof of this. New daily addresses hit an eight-month high that was last seen in April, according to data from Santiment . Despite this bullish sentiment, some market participants are still a bit cautious. VanEck, for example, set a more conservative price target of $6,000 for Ethereum.
The intrinsic value of cryptocurrencies can be calculated using Metcalfe’s Law, production costs and discounted utility models.
Xandeum has wrapped its six-week liquid staking program with a bunch of solid benchmarks. Distributing 205 million XAND tokens in rewards, the program saw more than 68% of available XAND staked by users, who were able to earn a 16% APY. Xandeum’s liquid staking program was able to achieve this level of APY through a quadruple rewards system that includes staking rewards, MEV rewards, block rewards, and XAND incentives. By distributing these rewards equitably, Xandeum has shown that there’s scope for liquid staking to grow on Solana and become a mainstay of its decentralized finance economy. What Xandeum does differently By sharing MEV and block rewards with its stakers, Xandeum’s staking model goes beyond traditional reward mechanisms to include features designed to maximize both user value and network resilience. Indeed, this approach has attracted over $7 million worth of SOL to its staking pool. Participants in the program also benefited from transparent governance, with all pool fees directed to the Xandeum DAO treasury, where XAND token holders have decision-making power. By making staking more accessible and rewarding, protocols like Xandeum are playing their part in strengthening the Solana network. The growth of LSTs also deepens liquidity and creates new opportunities across DeFi protocols, allowing for yield to be stacked. From staking to storage Xandeum isn’t stopping with staking. The protocol is preparing to launch its scalable storage layer in early 2025, a development poised to enhance how Solana handles data-intensive applications. Designed to integrate with Solana RPC nodes, Xandeum’s storage layer will enable decentralized storage for exabytes of data. This innovation addresses a critical challenge in blockchain infra: the storage trilemma. By offering a solution that is scalable, cost-effective, and smart contract-native, Xandeum’s storage layer will unlock new use cases for Solana dapps. This will include porting data-rich web2 applications into a decentralized web3 environment and supporting advanced functionalities like machine learning and data analytics onchain. The storage layer also introduces new revenue streams for stakers. Applications using Xandeum’s storage solution will pay fees, a portion of which will be distributed to stakers. Liquid staking as a catalyst for Solana growth Xandeum’s achievements in liquid staking are part of a broader trend within Solana’s growing LST ecosystem. Liquid staking enables greater participation in staking by eliminating the traditional trade-off between earning rewards and maintaining liquidity. For Solana, prized for its speed and efficiency, liquid staking adds another layer of utility, enhancing both user participation and network decentralization. The next step for Solana developers working within this sector is the creation of dapps and protocols that make better use of LSTs. From collateralizing stablecoins to providing liquidity for onchain perps, prediction markets, and DEXes, the possibilities are endless. Featured image via Shutterstock The post Xandeum wraps up Solana staking program with 205M XAND distributed in rewards appeared first on Finbold .
Emerging blockchain pioneer Apu Apustaja ($APU) has proudly announced a transformative new partnership with Mental Health America (MHA), as of 10 th December 2024. In a move set to resonate throughout the crypto community and beyond, APU has aligned itself with MHA’s vision to improve mental health access, awareness, and advocacy—using the power of digital innovation and community-driven support. Through this collaboration, APU is not only amplifying MHA’s critical mission, but also setting a new standard for meaningful philanthropy in the crypto sphere. About Mental Health America (MHA): Established over a century ago, MHA is the nation’s leading community-based non-profit focused on helping all people live mentally healthier lives. With a mission to “promote mental health as a critical part of overall wellness,” MHA works tirelessly to provide tools, resources, and advocacy programs designed to prevent mental health issues before they start. From screening tools to community-based programs, MHA’s efforts have consistently aimed at early intervention and long-term recovery strategies, helping millions navigate their mental health journeys with dignity and support. About Apu Apustaja ($APU): Apu Apustaja is a burgeoning cryptocurrency project known for blending pop culture elements with real-world value and social impact. Having already made waves through partnerships with high-profile names— Conor McGregor x BKFC , Prima Pramac MotoGP , Udinese Serie A Football Team , and Matchroom Boxing —APU’s track record of strategic collaborations underscores its commitment to pushing beyond the blockchain’s traditional boundaries. By bridging entertainment, sports, and now, vital mental health initiatives, APU fosters a diverse and engaged global community united by shared purpose. Building on a Legacy of Impact: APU’s new relationship with MHA expands on its legacy of purposeful partnerships. Unlike typical crypto ventures, Apu Apustaja is dedicated to leveraging its platform, brand visibility, and community spirit to empower organizations that are making a real difference. With this newly formed alliance, APU aims to spotlight the importance of mental health within the crypto community and inspire more projects to follow suit. What’s Next? Over the coming months, APU and MHA will roll out quarterly live streams focusing on critical mental health topics, inviting audiences to learn and engage directly with experts and advocates. Additionally, APU will introduce a seamless crypto-donation widget at https://apu.com/partnerships/mha , enabling supporters worldwide to back MHA’s essential work using digital assets. This ground-breaking initiative aims to demonstrate how blockchain can serve as a force for good, funnelling resources into meaningful mental health support services at the click of a button. Through this partnership, Apu Apustaja and MHA are proving that crypto’s true power isn’t just financial—it’s the ability to unite communities behind causes that matter. Together, they are laying the groundwork for a healthier, more compassionate future, both online and off. Get Involved With APU Twitter/X: https://x.com/apuscoin Telegram: https://t.me/apuclub Website: https://APU.com
The post From Joke to Global Phenomenon: Binance Reveals Why Memecoins Are Taking Over! appeared first on Coinpedia Fintech News Binance recently released a blog highlighting various memecoins and crypto projects. One of the featured projects, Chill Guy, has gained popularity for its relaxed, easygoing vibe, attracting investors who connect with its laid-back spirit. The blog also mentioned projects like RIF and URO, which are exploring decentralized science. Additionally, QUANT has emerged as a symbol of resistance against scams and misinformation in the crypto space. These projects reflect the diverse trends in the crypto world, with each gaining attention for their unique purposes and philosophies.
Bitcoin ( BTC-USD ) surged above $106K on Monday before paring some gains, as the Federal Reserve's interest rate cut decision is expected to come in the week. The cryptocurrency had hit $106,449, but retreated back to $104K soon enough. BTC was up 2.1% to $104,495 as at 5:35 am ET. The Fed officials are widely expected to deliver another rate cut. The meeting will start on Tuesday, and the monetary policy decision will be announced on Wednesday. Investors will be more keen to hear what Fed Chair Jerome Powell has to say in the press conference after the decision is out. There are concerns that if Powell hints at fewer or slower rate cuts ahead, then it could be more difficult for risk assets, like BTC, to continue their bull run. BTC has surged ~50% since Donald Trump's win in the U.S. presidential elections. Trump had expressed his support for digital assets. MicroStrategy ( MSTR ) also gained 5% in premarket trade as the company will be added to the Nasdaq-100 Index, the exchange operator said. More on Bitcoin The Bitcoin Hype Train Has Arrived On Cue Bitcoin New Bull Breakout Starts Soon VanEck's 10 Crypto Predictions For 2025 Trump Trade winners: Crypto, bank loans, MMFs, leveraged funds, U.S. small-caps Bitcoin set to rise 1.5% W/W as inflation data fuels Fed rate cut odds
The broader crypto market is witnessing a strong momentum lately, with many market experts anticipating the bull run to continue ahead. Along with a surge in Bitcoin, the traders are also optimistic about the altcoins season, with a flurry of new tokens catching the investors’ eyes. Having said that, the market participants are now eagerly waiting for the upcoming cryptocurrency airdrops, especially as the recent HYPE, Grass, & ME airdrops have gained notable traction. 4 Crypto That Could Explode After Upcoming Airdrops The recent shift of the market participants towards the digital assets space is evidenced by the recent cryptocurrency market rally. Amid this, the traders are shifting their focus towards top altcoins as well as the new coins that are making headlines in the market. Considering that here we explore top crypto airdrops that could spark a rally in the assets’ prices, especially after HYPE, Grass, and ME tokens noted significant traction. Tomarket (TOMA) The Telegram game players are eagerly waiting for the Tomarket airdrop as the project plans to allocate billions of tokens for the users. The popular Telegram mini-game, with 50 million users, is launching its native TOMA token. Notably, the team has allocated 60% of tokens for community distribution, making it one of the biggest crypto airdrops. Previously, the Hamster Kombat and X Empire airdrops have also noted significant traction. Having said that, discussions on Tomarket’s TOMA token are soaring, with many eagerly awaiting its price performance. According to recent updates, the Tomarket team has reserved 80% of its 1-trillion token supply for a four-stage airdrop. Notably, 30% of the tokens will be distributed in the first stage. The second stage will occur before the token’s listing on December 20, 2024, with a snapshot of airdropped TOMA tokens taken two days prior. Nebula Stride (NST) Another major project, Nebula Stride (NST) , is also gearing up for its upcoming airdrop, which could significantly send its prices higher in the coming days. The Nebula Stride presale has already started, offering NST tokens at $0.02. This blockchain initiative aims to enhance the decentralized finance (DeFi) ecosystem through advanced smart contracts and integrated financial tools. With a total supply of 2 billion NST, the project has allocated 10% for airdrops, sparking optimism among potential investors. The presale’s next stage will begin after raising $416,666.66, with the token price increasing to $0.025. Besides, the project has also noted traction with its announcement of a $1 million giveaway. The project’s website has a detailed explanation of how the investors can take part in the giveaway event, with 100 lucky winners reported to receive 10,000 USDT each. Considering that, the Nebula Airdrop is expected to cause a market buzz ahead. TapSwap (TAPS) Another Telegram game, TapSwap has also announced its upcoming airdrop event, sparking investors’ optimism. The project said that it would launch its TAPS token on the TON network, while its airdrop event is expected in the second half of January. The platform will airdrop rewards to engaged players. Notably, the TAPS token will grant holders access to tournaments, staking rewards, and governance participation. Players’ eligibility for the airdrop will be determined by their in-game activity, including interactions and progress in the game’s “Tappy Town” city builder mode. It’s worth noting that a flurry of investors are awaiting the TAPS airdrop, especially after the project was delayed its launch previously. Besides, the increasing popularity of the tap-to-earn games has also fueled optimism over a potential rally in the project’s price ahead. Pengu Airdrop (PENGU) The leading Ethereum NFT project, Pudgy Penguins, recently announced the upcoming launch of its PENGU token, sparking optimism over its upcoming airdrop. The project announced its launch on December 6, which has noted significant attention from the market participants. Besides, it appears that the token is set to launch by this year’s end. According to the announcement, the PENGU’s total supply will be 88.88 billion and will mark its launch on the Solana network. Notably, the token’s highest allocation, 25.9% of the total supply, is reserved for the Pudgy Penguins community. On the other hand, it would allocate 24.12% for other communities, from which it expects to attract around 5 million new members to the community. Source: Pudgy Penguins, X Given the immense success of the NFT project, as evidenced by its millions of followers and more than 50 billion views, the market expectations remain high. Having said that, it is expected the crypto could witness a strong rally following its token launch and airdrop events ahead. Crypto Airdrops Gains Market Attention The market focus on the cryptocurrency airdrop events has surged significantly after the recent HYPE, GRASS, and ME airdrops. The DeFi protocol Hyperliquid airdrop went live on November 29, following which its native token HYPE noted a strong rally of more than 120% in a day. The GRASS token also noted a similar rally following its launch in early November. On the other hand, the Magic Eden (ME) token also recorded a robust rally after its airdrop event. Besides, top cryptocurrency exchanges like Binance and Coinbase have also listed the token, sparking market optimism. These strong rallies indicate that the investors are keeping close track of the cryptocurrency airdrop events. Having said that, it is expected that the upcoming Tomarket (TOMA), Nebula (NST), TapSwap (TAPS), and PENGU airdrops will spark investors’ optimism while recording strong rally following their launch. However, investors should also consider market volatility and exercise due diligence when making their bets. The post 4 Crypto That Could Explode After HYPE, GRASS & ME Airdrops appeared first on CoinGape .
The hack resulted in ANITA surging to $4.9 million in trading volume, which was pumped on account it was tied to Drake’s upcoming tour. Canadian hip-hop mogul Drake had his X account compromised on Dec. 15, with malicious actors using it to promote a meme coin dubbed Anita. Within hours, the newly minted token rose to $4.9 million in volume, largely on account of the rapper’s 39 million followers, who believed it to be connected to his upcoming tour, called the Anita Max Wynn tour. Screenshot showing Drake’s X account hacked on Dec. 14, 2024. The advertisement claimed that the token was created in conjunction with betting platform Stake, a brand that Drake has long been associated with. You might also like: AI and meme coins collide: Why Vantard holders are cashing in Soon after launch, the meme coin surged in trading volume with over 7,000 buy orders. However, analysis by the likes of crypto sleuth Zachxbt and numerous others quickly surmised the meme coin to be a scam. The situation involving Drake is not unique , with numerous other celebrities also falling victim to similar hacks. In December 2024, Cardi B and Doja Cat suffered similar compromises; while Halley Welch, the Tik Tok star and podcaster made famous by the viral “Hawk Tuah” video, was recently called out by the crypto community for promoting HAWK, which reached $480 million in market cap before crashing and leaving investors and her fans holding the bag. Read more: PeckShield: October crypto hacks tally up to $88.4m in losses across 20 incidents