PENGU overtakes WIF and GRT as market cap surges 521%

  • 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.

The post PENGU overtakes WIF and GRT as market cap surges 521% appeared first on CoinJournal.

Ethereum ETFs inflows surge as Bitcoin ETFs see major outflows

  • Ethereum ETFs inflows are outdoing Bitcoin ETF inflows.
  • BlackRock’s iShares Ethereum Trust (ETHA) ETF leads with a $89.51M inflow on Dec 23, 2024.
  • This Market shift may signal an altcoin season in 2025.

In a surprising turn of events in the cryptocurrency market, Ethereum spot ETFs have been experiencing significant inflows, overshadowing the outflows noted in Bitcoin ETFs.

On December 23, 2024, Ethereum ETFs recorded a net inflow of $130.8 million, with BlackRock’s iShares Ethereum Trust (ETHA) ETF leading with $89.50 million and Fidelity’s Ethereum ETF (FETH) adding $46.40 million according to Coinglass data. In stark contrast, Bitcoin ETFs saw outflows totalling $226.50 million on the same day.

This trend has been consistent over recent weeks. For instance, on December 12, Ethereum spot ETFs had a cumulative net inflow of $273.70 million, continuing their streak of 14 consecutive days with positive inflows. BlackRock’s ETHA ETF alone saw a single-day net inflow of $202.30 million, while Grayscale’s Ethereum ETF (ETH) contributed $73.20 million.

Ethereum ETFs inflows
Source: Coinglass
Bitcoin ETFs inflows
Source: Coinglass

The shift signals a possible start of an altcoin season

Bitcoin ETFs, despite having higher trading volumes, have been facing outflows, suggesting a possible shift in investor sentiment towards Ethereum.

Market analysts speculate that this could signal the onset of an ‘altcoin season’, where investors might be diversifying their portfolios beyond Bitcoin, with ETH leading the pack.

This shift in investment flow is particularly notable as it comes at a time when Bitcoin has been dominating headlines with its price performance, reaching over $108,000 earlier in December.

The underlying reasons for this trend might include Ethereum’s growing ecosystem, particularly in decentralized finance (DeFi) and non-fungible tokens (NFTs), which could be attracting investors looking for dynamic growth opportunities.

Additionally, the regulatory environment under the incoming administration might be perceived as more favourable for Ethereum, given its broader use-case applications beyond just being a store of value like Bitcoin.

This development raises questions about the future direction of crypto investments. While Bitcoin has long been the bellwether of the crypto market, Ethereum’s recent performance in the ETF space might hint at a rebalancing of investor interest, potentially leading to more balanced growth across different cryptocurrencies in 2025.

The post Ethereum ETFs inflows surge as Bitcoin ETFs see major outflows appeared first on CoinJournal.

3 best cryptos to hold between now and March 2025 when altcoin season is set to end

As we move towards a new year and inch closer to March 2025, optimism is mounting around altcoins, with many crypto investors anticipating exponential returns from these tokens. Among the numerous options available, Rexas Finance (RXS), PEPE, and Toncoin stand out as particularly noteworthy. However, Rexas Finance (RXS) and PEPE are widely expected to lead the pack and deliver superior performance during the upcoming altcoin season. Each of these coins boasts unique characteristics, robust fundamentals, promising tokenomics, and significant growth potential.

Rexas Finance (RXS): The New Name in the Game of Real World Assets Tokenization 

Rexas Finance has rapidly become one of the prominent players in blockchain through its interest in tokenizing real-world assets such as real estate, fine art, and commodities. This ability to tokenize real-world assets allows for fractional ownership of high-value investments, which broadens the base of accessibility. With a structure of ERC-20 tokens, Rexas Finance leverages the strength of the Ethereum blockchain with the disruptive idea of tokenizing assets. Rexas Finance has raised over $29 million and sold more than 357 million tokens in its presale, indicating the level of confidence investors have in the platform’s future. The RXS token, valued at $0.15, is available at presale stage 10.

The CertiK audit also means that the project has a firm security background, so investors are guaranteed safety when dealing with the platform. Rexas Finance also provides the Rexas Token Builder, an application that enables users to construct their tokens, and the Rexas Launchpad, which finances decentralized projects. These features aim to create enormous utility and growth in the future. Investors can purchase RXS tokens using an ERC-20 compatible wallet, such as Trust Wallet or MetaMask, to interact with Rexas Finance. After connecting their wallets to the Rexas Finance platform, customers can swap ETH and USDT for RXS tokens during the ongoing presale in preparation for the forthcoming exchange listing.

Furthermore, Rexas Finance is giving away $1 million to 20 winners, each of whom is compensated with 50,000 RXS tokens by fulfilling simple tasks like sharing the project on social media and referring friends to join the presale. This initiative is meant to reward the first backers and additionally help build the community directed at the token.

PEPE: The Meme Coin with Great Potential

PEPE has become very popular among meme coins, joining Dogecoin and Shiba Inu. With a current price of $0.00002341, a total market cap of $9.84 billion, and a loyal fanbase, the token is set to continue rising in popularity. During bull markets, meme coins have proven to be extremely profitable, which means PEPE can be the next best thing on the next wave of demand. The increasing adoption of meme coins, which PEPE has potential for, along with the loyal community base, is what separates PEPE from the rest. It’s a daring investment for PEPE customers as the price is comparatively low, as long as they have confidence in the meme coin social media wave. PEPE has the ability to increase substantially during the next bull run while preparing to shed another zero. PEPE is slowly earning increasing backing from popular figures and meme creators, enabling it to gain the publicity it requires to be widely accepted. Considering the project’s active user engagement across social media platforms, all indications suggest that its momentum will likely strengthen as 2025 rolls around. As the altcoin season commences, the expectation is that PEPE could reach as high as $0.0001 or even more.

Toncoin: The Future of Decentralized Web3 Infrastructures

With its capability to handle up to several million transactions in a minute, TON is expected to gain a considerable foothold in the Web3 ecosystem. Currently priced at around $6.09 with a market cap of about $15.54 billion, it is only expected to grow further from its current position. Toncoin’s capability of utility within the Web3 ecosystem makes it stand out from other altcoins. With the ability to run a multitude of dApps, in conjunction with smart contracts, Toncoin stands out as an attractive long-term investment. The immense user base that Toncoin has garnered due to its collaboration with Telegram is noteworthy, and these factors are expected to cause high demand for the token. The probability of the token being adopted increases with the development of more decentralized applications on the Toncoin network, solidifying its claim as one of the strongest players in the Web3 ecosystem. The investors’ predictions that Toncoin is at the forefront of decentralized applications and blockchain scalability overlap further prove the above statement.

Conclusion

The crypto market is about to enter an exciting phase towards March 2025, and Rexas Finance (RXS), PEPE, and Toncoin (TON) are set to benefit from it. As mentioned above, each coin has something unique to offer, an appropriate growth likelihood, and a decent entry threshold for investors. Rexas Finance excels in tokenizing real-world assets, giving it a competitive edge in the DeFi longer term. This has raised Rexas Finance $29 million so far, and it will most likely translate into good returns for RXS investors in due course. Elsewhere, Toncoin is still at the forefront of dApp development and blockchain scalability, and PEPE is gaining prominence as an amusing community-driven meme coin. Between now and March 2025, two major cycles will occur, during which these three coins will have outstanding growth that will generate strong returns. During the altcoin season, these altcoins may have good returns using the right timing and market conditions.

For more information about Rexas Finance (RXS) visit the links below:

Website: https://rexas.com

Win $1 Million Giveaway: https://bit.ly/Rexas1M

Whitepaper: https://rexas.com/rexas-whitepaper.pdf

Twitter/X: https://x.com/rexasfinance

Telegram: https://t.me/rexasfinance

The post 3 best cryptos to hold between now and March 2025 when altcoin season is set to end appeared first on CoinJournal.

MEXC grows global reach with 17 new languages, strengthening its presence in emerging markets

MEXC, a leading global cryptocurrency exchange, today announced the addition of support for 17 languages on its website, including Dutch, Bulgarian, Czech, Danish, Greek, Hungarian, and Indonesian. This initiative further strengthens MEXC’s localized services, empowering cryptocurrency investors worldwide with a seamless and enhanced trading experience.

The new languages are now available on MEXC’s official website, with app integration to follow shortly. With this latest language update, MEXC now supports a total of 34 languages, reflecting not only the platform’s commitment to global growth, but also its dedication to cultural diversity and inclusion. This strategic expansion is set to impact several key areas:

  1. Enhanced User Experience: Removing language barriers to provide a smoother and more accessible trading experience for users worldwide.
  2. Accelerated Global Expansion: Meeting the diverse needs of users across different countries and regions, speeding up market coverage and penetration.
  3. Expanded User Base: Attracting users from emerging markets with localized language options, further fueling platform growth and activity.
  4. Cultural Inclusion: Showcasing respect for diverse cultures, strengthening MEXC’s global brand image, and fostering greater trust among users.

MEXC is dedicated to being “Your Easiest Way to Crypto.” With core advantages such as an extensive selection of trending tokens, everyday airdrops, extremely low fees, and comprehensive liquidity, MEXC has achieved remarkable milestones in 2024. The platform has grown to serve over 30 million global users, and recorded a threefold increase in trading volume year-on-year, reflecting strong growth momentum.

To better address the evolving investment needs of its global user base, MEXC continues to optimize multilingual support, upholding a user-first philosophy that ensures an efficient and reliable service experience. 

“Our addition of new languages is about more than just expanding our service—it’s about connecting cultures,” says Tracy Jin, VP at MEXC. “By removing language barriers, we are opening doors for investors around the globe to access the crypto economy effortlessly, ensuring every user experiences our platform at its full potential.”

Looking ahead, MEXC will further deepen its localization efforts to facilitate easier participation in cryptocurrency investments and promote the long-term development and adoption of the industry.

About MEXC

Founded in 2018, MEXC is committed to being “Your Easiest Way to Crypto.” Serving over 30 million users across 170+ countries, MEXC is known for its broad selection of trending tokens, frequent airdrop opportunities, and low trading fees. Our user-friendly platform is designed to support both new traders and experienced investors, offering secure and efficient access to digital assets. MEXC prioritizes simplicity and innovation, making crypto trading more accessible and rewarding.

MEXC Official Website| X | Telegram |How to Sign Up on MEXC

The post MEXC grows global reach with 17 new languages, strengthening its presence in emerging markets appeared first on CoinJournal.

Crypto.com launches crypto custody trust service for US and Canadian institutions

  • 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.

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.

The post Crypto.com launches crypto custody trust service for US and Canadian institutions appeared first on CoinJournal.