Monday, December 16, 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! | | And the party continues, Geckos! In today's news: It's honest work 🧑🌾 The return of ICOs? 📃
Read on! | | 24h Hot Searches Worldwide 🔥 | | Santa Claus Rally in Crypto? | | In the last 10 years, crypto experienced the Santa Claus rally effect 5 times pre-Christmas and 8 times post-Christmas, but overall gains averaged just 0.8% and 3.7%, respectively.
So far, there have only been 3 years in which the crypto Santa Claus rally occurred both before and after Christmas: 2016, 2018, and 2023. | | | It's honest work 🧑🌾
A DAO community cohort on Polygon is proposing to deploy over $1B worth of idle stablecoins to generate on-chain yield for the network.
These stablecoins are currently held on Polygon's Proof-of-Stake bridge.
According to a recently published Pre-Proposal governance post, Polygon could earn an additional $70M annually using these assets, while maintaining the bridge's security.
As outlined in their pre-proposal, the plan is to deposit USDC and USDT into Morpho Lab's vaults, targeting a 7% APY through combined strategies with assets such as USTB and sUSDS.
The returns generated could then be funneled back to Polygon to incentivize liquidity and promote further development of the network's ecosystem.
If the pre-proposal passes an initial community check, then the cohort will propose a gradual deployment of DAI, USDC, and USDT into various existing DeFi protocols.
However, some active DAO members have highlighted that the security risks may be too great to justify the proposal. | | | Learn about what block size is and why this simple concept has triggered the heated block size wars within the Bitcoin community. | | | The return of ICOs? 📃 Ethereum scaling project MegaETH has raised $10M in just 3 minutes on the fundraising platform Echo.
Mega Labs, the team behind MegaETH, initially wanted to raise just $4.2M but added another $5.8M round on Echo due to overwhelming demand. Both rounds were completed at the same terms and FDV as their $20M seed round in June.
According to co-founder Shuyao Kong, the funds will be used to grow the MegaETH community and to support projects within the network's ecosystem. | | |
What are AI agents, and will it be the first narrative to watch for 2025? | | | In Other News... Sweet Irony. A Japanese lawmaker by the name of Satoshi Hamada is pushing for the Japanese government to consider adopting a Bitcoin national reserve. Ironically, Bitcoin's pseudonymous founder had a similar name, Satoshi Nakamoto.
Happy Holidays! Bitcoin registered yet another all-time high above $106,000. The rally may have been supported by multiple institutions buying up Bitcoin such as Microstrategy and Riot Platforms.
Off The Grid Tokenization?! Gunzilla Games, the creator of the popular crypto battle royale game, "Off the Grid" partners up with Delphi Ventures. Delphi will advise Gunzilla on the creation of the GUNZ foundation and its subsequent GUN token launch.
Pengu Tokenomics. Here's everything you need to know about PENGU, Pudgy Penguin's upcoming airdrop! Pudgy is now the second-largest NFT collection poised to release its token on the Solana network.
Take a Chill Pill. Philip Banks, the creator of the Chill Guy meme, pulled back his initial support for the CHILLGUY Solana memecoin, causing the token's price to fall rapidly. It is unknown if Philip's X account was compromised or if it was market manipulation.
Celebrities and Memecoins. Celebrity musician Drake's X account was hacked, promoting a Solana memecoin. Users are advised to ignore memecoin advertisements from celebrities as they are likely scams.
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