🐧 Pudgy Penguins Amazon Launch, 20K Toys Sold

GM, gm! Without any further delay, let’s get the crypto juice flowing.

🔥 What's hot today 🔥

🐧 Pudgy Penguins Makes Impressive Amazon Launch, Selling Over 20,000 Toys

🔐 Bitcoin & Ethereum: Rise in Self-Custody Spurs Bullish Market Outlook

☠️ Lido Finance is considering LDO staking threatening Ethereum

🚨 CertiK in Hot Waters Again: $3M Vanishes from DeFi Exchange Swaprum!

🌎 Strike's Going Global with Bitcoin Payments in 65 Countries & a New HQ in El Salvador

📚 Market analysis of the day

🐦 Tweet of the day

🐸 Meme of the day

🧠 Wisdom of the day

🐧 Pudgy Penguins Makes Impressive Amazon Launch, Selling Over 20,000 Toys

Making a spectacular debut on Amazon, Pudgy Penguins' "Phygital" Toy Collection garnered over half a million dollars 💰 in sales within two days! This highly sought-after NFT collection outsold legacy brands, Disney, Transformers, Pokemon, Barbie, and Legos, clearly capturing the marketplace's fascination. CEO Luca Netz has high hopes for the project, aiming to introduce millions to the world of Web3, and boldly declared his intent for Pudgy Penguins to become the face of NFTs.

🔐 Bitcoin & Ethereum: Rise in Self-Custody Spurs Bullish Market Outlook

The crypto scene is abuzz 🐝 with a shift towards self-custody for Bitcoin and Ethereum, signalling possible bullish trends. Cryptocurrency holders are opting for increased control over their digital assets, moving coins from exchanges into private wallets. Analytical data from Santiment reveals this growing trend could potentially drive demand and fuel upward price movements.

☠️ Lido Finance is considering LDO staking threatening Ethereum

In recent news, DeFi leader Lido Finance plans to introduce LDO staking, offering an alternative to Ethereum's high staking threshold. The new proposal, if passed, may allow stakers to earn up to 50% of the Lido DAO's revenue. Despite potential risks, Lido remains confident.

🚨 CertiK in Hot Waters Again: $3M Vanishes from DeFi Exchange Swaprum!

Swaprum, a DeFi project recently audited by CertiK, has allegedly disappeared, taking with it $3M in user funds in what appears to be another 'rug pull'. Critics are pointing fingers at CertiK for reportedly approving "another rug pull". 🕵️‍♂️ Security firm PeckShield claims the fraudsters used Ethereum and Tornado Cash for the heist. Following this incident, Swaprum's social media accounts were mysteriously deleted, although its website remains active. This unfortunate event follows a similar incident last month with another DEX audited by CertiK, Merlin, which lost around $1.82 million.

🌎 Strike's Going Global with Bitcoin Payments in 65 Countries & a New HQ in El Salvador

Strike, led by CEO Jack Mallers, is taking the Bitcoin world by storm. It's moving its HQ to crypto-friendly El Salvador and expanding Bitcoin and Tether services to 65 countries. Despite network congestion and USDT-use scrutiny, Strike's mission to offer a seamless, global, crypto-powered platform is well underway. The future looks promising with new features, like a debit card, on the horizon.

📚 Market analysis of the day

We've delved into Bitcoin's recent correction, spotting signs of short-term investors realizing profits and causing a bearish price shift. Indicators like NUPL and Short-term Holder SOPR have revealed profit-taking and selling activities since March 17, 2023. Despite this trend, the SOPR Ratio suggests Bitcoin might still swing back into bullish territory. Bitcoin's price could be influenced by external market reactions, notably from the US market, where potential inflation concerns and debt default rumors swirl. If these prove true, we could see a pivot from the dollar to crypto investments, possibly boosting Bitcoin's price near to $33.5k.

🐦 Tweet of the day

🐸 Meme of the day

🧠 Wisdom of the day

💡 Why Stablecoins Depeg?

Stablecoins, cryptocurrencies that aim to maintain a stable value💱, occasionally face this instability. Three major reasons include

• lack of market liquidity

• market manipulation 🎭

• design flaws

A sudden lack of demand or supply can unbalance their value as observed when USDC's value dipped to $0.88 in the wake of major banks' collapse in March 2023. Meanwhile, market manipulation saw accusations against Tether (USDT) in 2017 for allegedly inflating Bitcoin prices. Lastly, the design of a stablecoin can fail, as evidenced by the TerraUSD (UST) and LUNA debacle in May 2022, which wiped out over $60 billion in value.