Pudgy Penguins’ PENGU token price has surged by over 700% following its launch and airdrop distribution. The Solana-based token recorded significant trading volume shortly after going live, reflecting strong demand from NFT holders and the wider crypto market. Pudgy Penguins Airdrop Goes Live The Pudgy Penguins NFT project released its native token, PENGU, on the Solana blockchain and allowed NFT holders to claim tokens via an airdrop. Holders of Pudgy Penguins, Lil Pudgys, Rogs, and soulbound tokens (SBTs) were eligible to participate in the airdrop, which went live at 8:00 a.m. ET. CEO of the project, Luca Netz said that in order to claim the tokens, the users would have to link both their Ethereum and Solana wallets. Moreover, the users were informed that they needed to have SOL token of at least $10 value in their wallets for the gas fees. The claim period will be 88 days, and any unused tokens will be burnt after that period elapsed. $PENGU is now live. CA: 2zMMhcVQEXDtdE6vsFS7S7D5oUodfJHE8vd1gnBouauv Learn more & how to claim your PENGU below. pic.twitter.com/ROWgq02YbF — Pudgy Penguins (@pudgypenguins) December 17, 2024 The airdrop also includes owners of Pudgy Toys – physical plush collectibles available at Walmart and Target among other retailers. The toys are connected with Igloo’s Ethereum Layer-2 Abstract Chain and the PENGU token owners will be able to bridge their tokens once the mainnet is out. PENGU Price Skyrockets Over 800% The PENGU token experienced a strong debut, achieving a trading volume of approximately $90 million in its first hour. Within 24 hours, the token price surged by 870%, reaching an all time high of $0.05 before settling at $0.0485. The token’s market capitalization reached $3 billion and placed PENGU among the 200 best cryptocurrencies by market capitalization. According to the data from CoinMarketCap, the total number of PENGU tokens is 88.88 billion tokens, among which 23.5% are from the airdrop, and another 12.3% is locked into liquid tokens on decentralized exchanges. One of the most significant transactions involved a trader who made a $8.36 million profit within 20 minutes through the token’s price surge. The trader bought 239.6 million PENGU using 23,742 SOL and then sold the tokens for 60,726 SOL. A trader made an incredible 36,984 $SOL ($8.36M) profit by trading $PENGU in less than 20 minutes. As soon as $PENGU launched, the trader spent 23,742 $SOL ($5.36M) to buy 239.6M $PENGU and later sold it for 60,726 $SOL ($13.72M). A massive profit! https://t.co/hIpkzxZjES pic.twitter.com/z5ZDKL3cfn — Lookonchain (@lookonchain) December 17, 2024 During this launch, several centralized exchanges, including Binance, OKX, and Bybit have included PENGU. Binance also revealed that it would enable PENGU on various products such as Binance Futures allowing for up to 75x leverage on PENGU/USDT Perpetual Contracts. At the same time, OKX also added the token to its spot trading market, indicating that more institutional investors are starting to pay attention to NFT-based tokens. NFT Market Reaction and Ecosystem Growth The release of PENGU has positively influenced the Pudgy Penguins NFT market. The floor price for the Pudgy Penguins collection increased to 34.1 ETH (approximately $136,000), marking a 2.6% rise. This places the collection as the second most expensive in the NFT market, following CryptoPunks. The Pudgy Penguins ecosystem has expanded beyond digital collectibles, with physical products like Pudgy Toys connecting to the Pudgy World metaverse. The project continues to strengthen its cultural presence through retail partnerships and broader community engagement across blockchain networks. Subsequently, PENGU’s launch on Solana represents a strategic step for the Ethereum-based NFT project, with plans to introduce cross-chain compatibility via LayerZero technology. This will enable seamless integration of PENGU across Ethereum and Solana networks, further enhancing its utility and adoption. The post PENGU Price Soars 800% As Pudgy Penguins Airdrop Goes Live appeared first on CoinGape .
A few minutes ago, Ripple officially announced the launch of its most-awaited stablecoin, RLUSD, which is now available…
The crypto market has been buzzing with the recent developments in the DeFi space, with Ripple (XRP) and Avalanche (AVAX) leading the charge. Amid this flurry of activity, 1Fuel is garnering significant attention, aiming to raise $100,000 daily in its ongoing crypto presale, as investors seek opportunities in this dynamic space. Problem-Solving 1Fuel Might Just Give You The Trading Experience of Your Dreams The crypto market has no shortage of users but that's not to say that all the users are active. One major reason for this is the complexity associated with crypto wallet platforms like Trust Wallet. 1Fuel was created to solve this problem by simplifying digital asset management. This way, there will be increased accessibility which will ensure that crypto trading is easy for both new and seasoned traders in the market. Apart from this crypto wallet feature, 1Fuel also protects user privacy with its built-in mixer and disposable wallets. These two special features anonymize transactions and prevent tracking. 1Fuel also has a P2P exchange which allows users to trade directly without any meddling intermediaries. This results in little to no fees and increased privacy when trading. Further, 1Fuel will offer debit cards as part of its ecosystem, enabling users to easily convert their cryptocurrency to fiat currency for online, in-store, and everyday purchases. The cards will seamlessly integrate with users’ wallets, automatically handling the conversion process to make transactions quick and convenient. XRP Future May Hold Green Charts Despite Legal Battle Since President-elect Donald Trump’s U.S. election victory, XRP has skyrocketed by over 167% in the last month. This impressive rise has resulted in XRP surpassing SOL in market capitalization. Currently trading around $2.40, XRP investors are thrilled, especially considering the significant growth challenges posed by XRP’s ongoing legal battle with the SEC. Despite all the legal drama, things are finally looking up for XRP this altcoin season, and not just in terms of price. Recently, major financial firms like Bitwise, WisdomTree, and 21Shares are planning to introduce XRP-backed ETFs. If these ETFs gain approval, they could attract huge investments and potentially increase XRP’s price to $5 very soon. Avalanche New Ecosystem Update Could Push Its Price to New Highs On December 12, the Avalanche Foundation made a big announcement that raised a lot of excitement in the AVAX community. The foundation announced that it raised $250 million through a private AVAX token sale to support the Avalanche blockchain. The funding round included around 40 participants, including huge firms like Galaxy Digital, Dragonfly, and ParaFi Capital. Unsurprisingly, the announcement triggered a notable 10% increase in AVAX’s value. As a result, AVAX has been hovering around the $50 mark for the past week. With this news and according to its price chart data, it is likely that AVAX will hit $60 this altcoin season. A potentially contributing factor to this growth is the Avalanche9000 upgrade. This upgrade, which is scheduled for Dec. 16, will reduce Layer-1 deployment costs by 99.9% and cut C-Chain transaction fees by 25x. Conclusion While XRP and AVAX are making strides in the DeFi space, 1Fuel is stealing the spotlight with its fast-selling crypto presale. Currently priced at $0.012 in its second stage, it has already raised nearly $700,000. With this momentum, this figure is likely to escalate into the millions soon. Don't miss out on this opportunity—purchase OFT today! If you would like to find out more information about the presale: Presale: https://www.1fuel.io/ Telegram: https://t.me/Portal_1Fuel X: https://x.com/1fuel_?s=21 Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
The recent interaction between Crypto.com CEO Kris Marszalek and US President-elect Donald Trump marks a significant shift in the regulatory landscape for cryptocurrency in the United States. This pivotal meeting
Santa Rides Shiba could turn early investors into multi-millionaires, like Shiba Inu (SHIB) and Dogecoin (DOGE) did. Santa Rides Shiba (SANTSHIB), a new Solana memecoin that was launched today, is set to explode over 19,000% in price in the coming days. This is because SANTSHIB is set to soon be listed on numerous crypto exchanges, according to reports. This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up. Currently, Santa Rides Shiba can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to make huge returns in the coming days. Early investors in SHIB and DOGE made astronomical returns, and Santa Rides Shiba could become the next viral memecoin. Santa Rides Shiba launched with over $9,000 of liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains. How to Buy To buy Santa Rides Shiba on Raydium.io or Jup.ag ahead of the CEX listings, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Santa Rides Shiba by entering its contract address – CxpeR8vdgeVWZFwBytS7PRrXHBwVgPJWZBJUcpK3k7vT – in the receiving field. If you don’t have one of these wallets already, you can create a new wallet in a few minutes and transfer some Solana to it (which will then be used to buy the memecoin), from an exchange like Coinbase, Binance and many others. In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price. If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner. The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum. This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like SANTSHIB. Such memecoins have no utility and no inherent value, but investors looking for high gains have been investing in them due to their potential to rapidly rise in price.
The U.S. Department of Justice is set to reimburse victims of a wire fraud scheme, aided by the tripling value of Bitcoin since the cryptocurrency was seized. The scheme, which targeted real estate transactions, resulted in millions of dollars in…
The U.S. Department of Justice is set to reimburse victims of a wire fraud scheme, aided by the tripling value of Bitcoin since the cryptocurrency was seized. The scheme , which targeted real estate transactions, resulted in millions of dollars in losses for businesses and individuals. In December 2023, fraudsters infiltrated systems used in real estate transactions, sending fake wire transfer instructions to divert funds intended for mortgages and other payments. One company reported losing over $1 million. Investigators later uncovered at least ten additional victims, with individual losses ranging from $75,000 to $425,000, according to the DOJ. The stolen funds were laundered through multiple bank accounts and eventually consolidated into a cryptocurrency wallet controlled by fraudsters in Nigeria . Law enforcement seized 32.68 Bitcoin ( BTC ) from the wallet, valued at $900,000 at the time. To facilitate victim compensation, the U.S. Attorney’s Office filed a civil forfeiture case to claim the seized Bitcoin. You might also like: Binance Wallet unveils Binance Alpha to highlight emerging projects Bitcoin’s price surge will facilitate repayment Since the seizure, Bitcoin’s price has more than tripled, significantly increasing the value of the seized assets. This rise in value now allows the DOJ to compensate each of the ten victims who filed claims, potentially making them whole. Civil forfeiture is a legal process where authorities seize assets linked to criminal activity, even before suspects are arrested. U.S. Attorney Tessa M. Gorman highlighted its importance in helping victims recover losses. “I commend the quick work by law enforcement and the Asset Forfeiture Unit who moved to seize this Bitcoin and are working diligently to make these victims whole,” said Gorman. “Civil forfeiture is an important tool that we can use to help victims, even before the bad actors themselves have been arrested.” You might also like: Tether backs StablR to expand MiCA-compliant euro stablecoin offerings
Sui Network, aka Sui Bridge has succeeded in integrating Circle’s Cross-Chain Transfer Protocol (CCTP), allowing users to securely move their USDC stablecoin across Sui and nine other blockchain networks. This will significantly improve the interoperability and usability of USDC across multiple platforms. Sui Network’s USDC Upgrade: Frictionless Transfers, Endless Possibilities Sui Network has integrated Circle’s Cross-Chain Transfer Protocol , which allows users to safely transfer the USDC stablecoin between Sui and eight other blockchain networks. With the integration, USDC further improves its interoperability to become freely transferable across several blockchain platforms. Major launch for cross chain apps and services connecting EVM, Solana and Move ecosystems via CCTP. Let the liquidity flow! @SuiNetwork https://t.co/X9m74OMmWm — Jeremy Allaire – jda.eth / jdallaire.sol (@jerallaire) December 17, 2024 The CCTP currently supports secure, one-to-one USDC transfers on Sui, along with Arbitrum, Avalanche, Base, Ethereum, Noble, OP Mainnet, Polygon PoS, and Solana. This feature easily enables users to move USDC between different blockchain ecosystems without the stress of currency conversion. As it goes on cross-chain transfers, transaction fees for sending and receiving chains generate an effective transfer. Sui has been one of the biggest gainers in the last week, gaining over 30% in only one day . The protocol works by using the native burn-and-mint mechanism: the original USDC gets burned on the source chain, while new native USDC is minted on the destination chain. This way, the value of the USDC will always stay pegged to the US dollar. This integration requires no third-party liquidity or fillers, thus guaranteeing high capital efficiency and minimizing trust assumptions. CCTP’s integration into Sui Bridge increases the utility of USDC, supporting a wide range of use cases across blockchain networks. For instance, developers can enable cross-chain onboarding for apps, users can withdraw $USDC on exchanges, and ecommerce stores can accept payments from multiple blockchains with ease. USDC Bridges Connect a Multitude of Blockchains The ecosystem now supports 72 unique routes for $USDC transfers, enabling many-to-many transactions between supported blockchains. Recently, Binance revealed that it entered into a strategic partnership with Circle Internet Group Inc. to boost global USDC and crypto adoption. Wormhole enables the protocol across the Sui applications with Wormhole Connect-a embeddable widget for frictionless cross-chain transfers. Secondly, the Sui Bridge embeds Wormhole Connect, powered by the power of CCTP, making it easier to send $USDC directly to Sui. Portal supports the protocol, enabling fast and frictionless USDC via Wormhole Connect; Router provides support for Sui with CCTP-enabled better cross-chain bridging. Interport integrates the protocol into its developer tools and cross-chain bridge, allowing seamless USDC transfer. Mayan also supports CCTP and cross-chain bridging via Mayan Swap. Wanchain offers CCTP through its WanBridge, thus enabling developers to enhance their capabilities for cross-chain transfer. These integrations further power dozens of apps, wallets, bridges, exchanges, and other ecosystem tools to use the protocol; it thus enables seamless, efficient, and secure $USDC transfers across a wide variety of blockchain platforms. In addition, numerous ecosystem apps like AlphaFiSUI, Bluefin, CetusProtocol, Ensofi, KriyaDEX, SuiLendProtocol, and Turbos_Finance are already live with CCTP routes for Sui. These integrations further show the increasing adoption of the protocol in facilitating seamless and secure cross-chain transfers for both developers and users across blockchain networks. With the protocol’s robust framework, Sui Bridge is paving the way for a more interoperable blockchain ecosystem that supports seamless, secure, and efficient USDC transactions. The post Sui Network Integrates Cross-Chain Transfer Protocol for USDC appeared first on CoinGape .
Revolut is stepping up its fight against crypto fraud by extending its fraud prevention tools to crypto customers starting in 2025. According to a ...
Solana is navigating a critical juncture as its price edges toward the $209 mark under increasing bearish pressure. Recent market dynamics have tilted in favor of the bears, challenging SOL’s previous upward momentum. The $209 level now emerges as a crucial line of defense, with the bulls required to act swiftly to prevent deeper losses and regain control of the market narrative. This heightened selling pressure highlights growing uncertainty, making the stakes even higher for both sides of the market. If the bulls manage to hold the line, it may signal strength and set the stage for a potential rebound. However, failure to defend this level could pave the way for further downside, reinforcing the bearish outlook. Solana Nears The Critical $209 Support Level Recent price movements indicate that Solana is under significant downside pressure as it approaches the crucial $209 support level. This decline comes despite the cryptocurrency remaining above the 100-day Simple Moving Average (SMA), a key indicator often associated with broader bullish trends. The negative sentiment has overshadowed the SMA’s support, signaling possible vulnerability in SOL’s price structure. Related Reading: Solana To New ATH Before Christmas – Analyst Expects $300 Soon While the 100-day SMA typically acts as a safety net for upward momentum, the increased selling pressure suggests that bears are testing the strength of this support. If Solana fails to hold above the $209 mark, it might invalidate the SMA’s bullish influence, paving the way for deeper losses. However, a rebound at this level could reaffirm the SMA’s role in sustaining the positive outlook, setting the stage for potential recovery. Furthermore, the 1-day Relative Strength Index (RSI) is trending below the critical 50% threshold, signaling a shift in market sentiment toward bearish dominance. The RSI, a widely used momentum indicator, measures the speed and magnitude of price movements. When it dips below 50%, it typically indicates weakening buying pressure. This downward trend in the RSI reflects the increased bearish influence on Solana’s price, aligning with its recent decline toward the $209 support level. Sustaining its position below 50% suggests that bulls may be losing their grip, making it imperative for them to regain control soon to prevent further losses. Should the RSI continue to decline, it could reinforce the negative outlook, potentially leading to a deeper price correction. Potential Scenarios: Rebound Or Further Decline? Solana’s price, currently hovering near the $209 support level, sets up two potential scenarios: a bullish rebound or an extended decline. If the price successfully rebounds from this level, it may indicate strength and resilience, possibly pushing Solana toward higher resistance levels, such as $240 and $260, while reigniting its uptrend. Related Reading: Solana Price On The Rise: Key Resistance At $235 Could Spark Major Breakout However, failing to hold above $209 could intensify selling pressure, potentially driving the price lower toward $194 as bearish dominance takes hold. A break below this level would heighten the risk of more drops, with Solana testing the 100-day SMA as the next key support. Featured image from iStock, chart from Tradingview.com