Web3 Friday Buzz: NFT Surges, Trump’s Crypto Czar, XRP Moves, and $1B Liquidations
1️⃣ Pudgy Penguins unveil plans for a 'Master Coin' on Solana as NFT prices soar 🐧
2️⃣ Donald Trump appoints David Sacks as Cryptocurrency & AI Czar 🤖
3️⃣ Ripple’s XRP joins Nasdaq Worksport’s $5M crypto treasury shift 💼
4️⃣ Bitcoin tumbles to $92K, sparking $1B in liquidations, hitting DOGE & XRP futures hardest 🚨
📖 Stay tuned for more insights!
Happy Friday, Web3 enthusiasts! The world of blockchain and crypto is buzzing with exciting updates. From Pudgy Penguins launching a 'Master Coin' on Solana to Donald Trump appointing David Sacks as the new Cryptocurrency and AI Czar, there’s no shortage of groundbreaking news. Ripple’s XRP is making waves, joining Nasdaq Worksport’s $5M crypto treasury shift, while Bitcoin’s sharp nosedive to $92K has triggered $1B in liquidations, hitting DOGE and XRP futures the hardest. Dive into these developments and uncover the latest trends shaping the future of Web3! Keep reading for all the juicy details.
1. Pudgy Penguins unveil plans for a 'Master Coin' on Solana as NFT prices soar
Pudgy Penguins, the third-largest NFT collection, is launching its own token, PENGU, on the Solana blockchain by year-end. This announcement follows a surge in Pudgy Penguins' NFT floor price to an all-time high amid rising crypto market valuations. With a total supply of 88 billion tokens, 23.5% will go to current NFT holders, 22.02% to the broader Solana and Ethereum communities, and 12.32% allocated for decentralized exchange liquidity. The "Master Coin," part of the project's lore, symbolizes collective strength. Launched in 2021, Pudgy Penguins continues to captivate the NFT world, solidifying its position in the growing Web3 ecosystem.
Vince Dioquino
2. Donald Trump appoints David Sacks as Cryptocurrency & AI Czar
David Sacks, venture capitalist and tech podcaster, has been appointed as the “White House AI & Crypto Czar” by President-elect Donald Trump. Tasked with shaping the administration’s AI and cryptocurrency policies, Sacks will develop a legal framework for crypto and lead a council on science and technology. Known for his ties to the "PayPal mafia" and selling Yammer to Microsoft for $1.2 billion, Sacks has recently gained fame for hosting the All-In Podcast. Trump praised his expertise and commitment to free speech. This move signals a strong push toward crypto-friendly policies and technological leadership in the upcoming administration.
Kif Leswing, CNBC
3. Ripple’s XRP joins Nasdaq Worksport’s $5M crypto treasury shift
Ripple's XRP is now part of Worksport’s $5M treasury shift, marking a significant move in the crypto space. The company, known for its solar-powered truck bed covers, is adding XRP and Bitcoin to its reserves, alongside other crypto assets. This shift reflects a growing trend among companies adopting digital currencies for faster transactions and as a hedge against inflation. Worksport’s CEO emphasized the benefits of diversifying its treasury with cryptocurrencies, signaling a strategic approach to innovation. This move aligns with increasing institutional interest in crypto, showcasing the continued evolution of blockchain adoption in various industries.
Vladimir Popescu
4. Bitcoin tumbles to $92K, sparking $1B in liquidations, hitting DOGE & XRP futures hardest
Crypto markets saw over $1 billion in liquidations after Bitcoin’s price briefly dropped from $103K to $92K. This led to massive losses, especially in XRP, which saw $39 million in liquidations. Bitcoin futures recorded nearly $500 million in liquidations, with the majority coming from long positions. Ethereum futures saw smaller losses of $85 million. Dogecoin and XRP futures also faced a cumulative loss of $50 million. Over 156,000 traders were liquidated, with the largest single liquidation being worth $18 million. The crypto fear and greed index dropped from "extreme greed" to "greed."
Shaurya Malwa
As the Web3 landscape evolves, each day brings new opportunities, challenges, and innovations. From the rise of NFTs like Pudgy Penguins on Solana to the integration of XRP into Nasdaq Worksport’s crypto strategy, it’s clear that blockchain continues to reshape industries. Meanwhile, Bitcoin’s market swings remind us of the volatility that defines the crypto space. Stay tuned for more updates as we navigate these exciting shifts together. The future of Web3 is unfolding—be a part of it!
