🦎🚀 The EIGEN claims are live, but...

Monday, May 13, 2024

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The grass is greener

Starting off the week with a bang, all eyes are on Bouncebit, Notcoin, and the TON ecosystem.

In today's news:

Just a little longer ⌛
One million penguins 🐧

Read on!

24h Hot Searches Worldwide 🔥

Toncoin (+6.6%)
MANEKI (+31.4%)
Pixels (-4.3%)
Solcasino (+1.5%)
Pepe (+1.5%)
Mode (-3.3%)
Bitcoin (+3.0%)

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.

Just a little longer ⌛

Users can now claim their EIGEN airdrop tokens!

However, it's going to take a while before you can trade them.

The project has made the tokens non-transferable until a later date, which has yet to be announced, but September 30th seems to be the team's target.

At the moment, users can choose to stake their EIGEN and delegate their staked assets to different EigenDA node operators on the platform.

Based on Dune Analytics, over 31M EIGEN tokens have been staked, approximately 55.1% of total EIGEN tokens claimed so far.

Even though the token is not currently tradeable, speculators are still able to get in on the action through pre-launch markets on Aevo and Hyperliquid.

As it stands, EIGEN is priced at $7.40 on Aevo at the time of writing, which would give the token a fully diluted valuation of $12.4B.

Editor's Take:
Having a majority of claimers staking their airdrop is usually a good sign, but then again, there's not much else you can do with the token right now. Besides that, there's also a 24-day unstaking window, so expect a spike in withdrawals leading up to the supposed date when EIGEN becomes transferable.

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

Watch now

One million penguins 🐧

Endangered no more.

Pudgy Penguins, one of the most popular NFT collections in the space, has posted a video announcing that over 1M Pudgy Penguins toys have been sold across various retail platforms in under a year.

In the video, the CEO of Pudgy Penguins, Luca Netz, also teased upcoming partnerships with other major retailers such as Smiths, Hot Topic, and 'specialty retailers in Asia and across the globe,'

Just yesterday, the project announced that Pudgy Toys compatible with their upcoming Pudgy World metaverse are now available in Target.

Each toy comes with a birth certificate containing a QR code that allows toy owners to sign up on Pudgy World and unlock special traits for their Penguins.

The Pudgy World alpha is slated to be released on the zkSync Layer-2 later this year.

What is MEV (Maximal Extractable Value) and how does it work?

Learn more

In Other News...

Full List of ETH ETFs Applications Awaiting SEC Approval.
Friends Again? Social media platform Friend.tech endured a challenging launch last week, but its FRIEND token has shown signs of recovering.
Another Giant Steps Into The Fray. Banking giant Wells Fargo has disclosed exposure to Bitcoin via several crypto product investments, a filing with the SEC shows.
An Interesting Proposition. The Ethereum co-founder is proposing some significant changes to the network's gas fee structure.
Zooming Past Records. IBIT and FBTC ETFs hit $10 billion AUM in weeks, smashing the previous record of three years, according to Bloomberg's senior ETF analyst Eric Balchunas.
Withdrawals through Coinbase. BlockFi clients will be able to access crypto withdrawals via Coinbase after the platform shuts down this month.

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