Kategorie: Crypto Markets

• The PENGU token currently trades at $0.03548, up 609% since its launch.
• The token is currently ranked at position 59 by market cap on CoinMarketCap.
• It has overtaken WIF and GRT in terms of market cap ranking.

In a remarkable display of market enthusiasm, the newly launched Pudgy Penguins (PENGU) token on the Solana blockchain has witnessed its market capitalization skyrocket by 521% since its debut.

Launched with a total supply of 88,888,888,888 tokens and a circulating supply of 62.416 billion tokens, PENGU has quickly become a focal point for the crypto community, especially those involved with the Pudgy Penguins NFT project, which comprises an 8,888-piece NFT collection launched in 2021 on the Ethereum blockchain.

This impressive performance has positioned $PENGU as one of the standout tokens in the Solana ecosystem and propelled the token to position 59 by market cap overtaking more established coins like Dogwifhat (WIF) and The Graph (GRT).

The token’s market cap hit an impressive $2.5 billion within the first day, underlining its potential to influence market trends. Despite the volatile nature of cryptocurrency, $PENGU has managed to maintain a substantial holder base, with reports suggesting a 40% increase from the lowest points post-launch.

With a market cap of $2,227,684,354, PENGU could easily overtake Injective, Ondo, Celestia, Bonk, Immutable, and others if its price soared to $0.05.

This growth has been supported by listings on major exchanges like Binance and OKX, which have facilitated spot trading, and partnerships with services like MoonPay, enhancing $PENGU’s accessibility and liquidity.

Notably PENGU’s surge can be attributed to a strategic airdrop distribution, targeting not only Pudgy Penguins holders but also engaging Ethereum and Solana’s early adopters, known as OGs.

This approach has evidently paid off, as $PENGU has not only seen a significant price increase but has also boasted one of the highest transaction volumes on the Solana blockchain, with daily transactions reaching an unprecedented 66.9 million shortly after launch.

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• The crypto custody service will be available to eligible Canadian and US institutions and high-net-worth clients
• The launch of the trust company is Crypto.com’s latest step in building their presence in Canada and the US

Crypto.com has launched a crypto custody service designed to help build its presence in Canada and the US.

According to a company statement, the Crypto.com Custody Trust Company will offer services to eligible Canadian and US institutions and high-net-worth clients.

“Launching a US trust company is our latest significant step in our product roadmap to building our business and presence in two of the most important and active crypto markets in the world – the US and Canada,” said Kris Marszalek, co-founder and CEO of Crypto.com.

Additionally, the statement noted that “over the coming weeks” digital assets held by all Canadian and US customers will move to Crypto.com Custody Trust Company.

Earlier this month, Marszalek met with President-elect Donald Trump at his Mar-a-Lago property to discuss policies potentially affecting the cryptocurrency industry, Congress, and the incoming administration. They also discussed the Bitcoin reserve.

Honored to have a seat at the table. pic.twitter.com/KvK0XyEdYZ

— Kris | Crypto.com (@kris) December 17, 2024

At the time, a Crypto.com spokesperson said: “We look forward to working with the new administration to develop and advance clear regulations for the crypto industry so the US can become a global leader in digital assets and innovation.”

The meeting with Trump came the same day Crypto.com dropped its lawsuit against the US Securities and Exchange Commission (SEC). In October, the crypto platform filed a lawsuit after receiving a Wells notice.

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• Binance Labs has revealed its investment in the $10 million Series A USUAL funding round.
• Following the revelation, the USUAL token price has soared by over 20%.
• Another key player that participated in the funding round is Kraken.

The USUAL token, the governance currency of the innovative Usual protocol, has experienced a remarkable 20% price surge following the revelation of a strategic investment by Binance Labs.

The token’s value climbed from $1.05 to $1.26, elevating its market cap to over $592 million in just over a month since the protocol’s launch, according to CoinMarketCap data. Over the past 24 hours, trading volume exceeded $644 million, underscoring the market’s growing interest in the project.

Binance Labs invested in the $10M Series A funding round for USUAL

Although Binance Labs did not disclose the exact amount it has invested in USUAL in its announcement, the investment is part of the $10 million Series A funding round, co-led with Kraken Ventures and other prominent investors.

The funding will accelerate Usual’s mission to innovate the stablecoin sector and expand the adoption of DeFi solutions.

Pierre Person, CEO of Usual Labs, expressed optimism about the collaboration, stating that the investment aligns with their vision to make the stablecoin market more community-centric and technologically advanced.

Binance Labs’ Investment Director, Alex Odagiu, praised Usual’s unique approach, highlighting its potential to set a new benchmark for inclusivity and empowerment within the crypto space. “Stablecoins are a vital gateway into the ecosystem, and Usual’s model pushes the boundaries of what they can achieve,” he said.

As part of Binance Launchpool’s 61st project, USUAL tokens are now available to users who stake BNB or FDUSD, with a rewards pool of 300 million tokens. This initiative reflects Usual’s dedication to fostering user engagement and solidifying its position as a transformative force in decentralized finance.

Why investors are pouring into USUAL

Usual is redefining the stablecoin market with a community-first approach.

Unlike traditional issuers, the protocol is committed to redistributing value and ownership among its users, allocating 90% of $USUAL tokens to the community. This innovative model emphasizes decentralization and inclusivity, offering users governance power and a share in the protocol’s revenue.

At its core, the Usual protocol introduces a novel decentralized stablecoin backed by real-world assets (RWAs) such as US Treasury Bills. The stablecoin, USD0, is designed to deliver both security and liquidity, integrating seamlessly into decentralized finance (DeFi) ecosystems. The inclusion of RWAs shields users from banking risks while promoting transparency and stability.

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