🦎🚀 Are we running it back with GameStop? 📈

Tuesday, May 14, 2024

Don't miss out on the juiciest news in the crypto space! Stay in the loop to ensure that you receive our latest newsletters, right in your inbox!

Are you holding the line?

As the mad, mad rush for memecoins continues, April's CPI report looms ahead.

In today's news:

Memecoin mania once more? 🎮
Rain of tears 🌧️

Read on!

24h Hot Searches Worldwide 🔥

GME (+287.4%)
Pepe (+22.3%)
Solcasino (-0.6%)
BounceBit (+27.6%)
Toncoin (-4.1%)
Dione (-6.1%)
Pixels (-5.4%)

Is FDV a Meme? Low vs High Float Crypto

Low float crypto account for 21.3% of the top 300 large cap crypto, while only 24.7% are fully diluted.

Notably, 14 out of the 74 fully diluted large cap crypto are memecoins, mostly launched this year or last year.

Memecoin mania once more? 🎮

The kitty has returned.

More than 3 years after Roaring Kitty disappeared from the public spotlight, the man marked his return by posting a meme on X, which sent meme traders and the crypto community into a frenzy.

Keith Gill, more popularly known as Roaring Kitty, was largely responsible for leading the short squeeze on GameStop's stock in early 2021.

Since his return to X after a nearly three-year hiatus, the price of GameStop (GME) has increased 75% from $17.39 to $30.45 today.

In typical crypto fashion, the tokens associated by name with Roaring Kitty and the previous GameStop mania also appreciated tremendously over the past two days.

GME, an unofficial GameStop memecoin launched on Solana back in January 2022, surged by 22x, while several 'Roaring Kitty' tokens rose by over 10x since May 13.

The return of GameStop mania also spilled over to popular memecoins such as Pepe and FLOKI, each rising by 23.4% and 15.0%, respectively.

Editor's Take:
Roaring Kitty has since posted a series of short clips on X, leading many to speculate that the stock of the popular movie theatre chain AMC may be his next target. Whatever the reason, his return has clearly impacted the legacy and crypto markets, and we may very well see the start of another season of memecoin mania.

Wondering what's been happening with NEAR Protocol? Find out how it's working to combine AI and blockchain technology!

Watch now

Rain of tears 🌧️

It's raining money, but not for the users.

According to crypto sleuth ZachXBT, the centralized exchange, Rain, may have been exploited for $14.8M.

ZachXBT published his findings on his Telegram channel, stating that the Bahrain-based exchange saw suspicious outflows of BTC, ETH, SOL, and XRP from their wallets in late April.

Since then, the exchange has published a statement stating that the exploit has been resolved.

Additionally, the platform claims that the necessary steps have been taken to protect customers by isolating the issue and placing additional controls to tighten security.

Customer funds were also held under custody and backed 1:1 to the exchange's reserves.

What is Grass? Learn about how it leverages idle internet connections of node operators to collect raw data that is then processed for AI training purposes and how you can earn Grass points for potential rewards!

Learn more

In Other News...

New Stuff! Fantasy Top volume jumps as Crypto Twitter NFT game adds tweaked mechanics and 40 new heroes to Fantasy Top, while announcing two big competitions.
System Outage. Coinbase reports system-wide outage, ensures 'funds are safe'.
Self-Reported Sybils. LayerZero Labs CEO Bryan Pellegrino said that up to 100,000 addresses have self-reported themselves as airdrop sybils, whereby his team has offered up to 15% of their intended token airdrop allocation for self-reporting.
Australian Expansion. OKX will offer spot trading services to all Australian users, while derivatives trading will be available only to verified wholesale customers.
Settling with the SEC. Crypto prime brokerage firm Falcon Labs, Ltd. settled with the U.S. Commodity Futures Trading Commission after the agency said it should have been registered, marking the first case of its kind.
Standing with Crypto. MoonPay donates $1 million to Coinbase-initiated Stand With Crypto.

🦎Tell us what you think!

We've just revamped our newsletter with a new and fresh format!

Whether you're a long-time subscriber or just passing by, do let us know if you like the changes and what we can improve on!

Let us know

Track us everywhere.