Ever since Pong was released in 1972 and changed the world, Gaming has evolved into one of the world’s largest entertainment industries, surpassing even film and music in revenue. This growth has been propelled by the increasing accessibility of games and their ability to appeal to diverse audiences.
Titles like Stardew Valley and Animal Crossing have been instrumental in this shift, offering experiences that emphasize relaxation, creativity, and social interaction.
These games have demonstrated that gaming can be a space for hardcore and casual players alike by focusing on fun and creativity rather than complex mechanics or intense competition. This inclusivity has helped break down barriers and build a sense of community among players.
The success of these games has highlighted a growing demand for non-competitive experiences, allowing players to engage in open-ended gameplay at their own pace.
Unlike traditional competitive titles such as League of Legends or Dark Souls, these games invite players to explore, create, and socialize without the pressure of high-stakes competition or difficult mechanics. This shift has opened new possibilities for game developers to reach a broader audience across all demographics, focusing on narrative and creativity rather than just action or skill-based challenges.
My Neighbor Alice is one of the web3 games taking this approach to bring new gamers to the blockchain space, a realm often seen as intimidating or complex for new players (or as gamers would put it, “Noobs”).
By combining the charm of cozy games with Web3 technology, it offers a non-intrusive way for players to experience blockchain features, like NFTs, while enjoying a casual yet complex and fun game. In doing so, My Neighbor Alice is set to introduce millions of players to the potential of blockchain gaming, just as Stardew Valley and Animal Crossing did for mainstream gaming.
What Is My Neighbor Alice All About? Table of Contents
What Is My Neighbor Alice All About?Features and EcosystemDecentralized MarketplaceLummelunda ArchipielagoPlayer Avatars and In-Game AssetsProgression SystemThe ALICE TokenThe Team Behind the CurtainConclusion My Neighbor Alice describes itself as a multiplayer builder game where players get to own their very own virtual islands, customizing them to their heart’s desire while inviting and visiting other players in the process. If you are a gamer and this sounds familiar, it is because the game was inspired by Animal Crossing itself, one of the most popular franchises ever created by Nintendo.
By combining a familiar genre with the many benefits of decentralization and digital assets, My Neighbor Alice gets to add an element that its traditional counterparts don’t offer: true ownership. Whereas games like Animal Crossing and Stardew Valley result in all of the hard work being “lost” once the player fulfills their objectives, game support ends, files get corrupted, etc, this is not the case with My Neighbor Alice.
By using NFTs, the game allows players to interact with the world in a whole new different way, transferring ownership in any way they want and unlocking interesting features that traditional in-game assets just don’t possess. This also allows players to, in the team’s words, “exercise power over the platform” through democratic governance. This means not only players get to exercise their creativity over their own islands but all over the virtual world.
Effectively, My Neighbor Alice is an online video game that can be played as a solo or multiplayer adventure, combining an exciting storyline experience most web3 games don’t possess and the creative freedom of a sandbox experience.
Features and Ecosystem Bringing blockchain and DeFi capabilities to the world of video games means that My Neighbor Alice has much more to offer than a satisfying gaming experience. In-game assets, virtual land, a decentralized marketplace, trading features, and decentralized governance all come together to create a world in which players are right at the center. Let’s take a look.
Decentralized Marketplace With NFTs being a major pillar of My Neighbor Alice, it is not surprising that its marketplace plays one of the most important roles. However, while marketplaces in other games allow players to buy assets directly from the developers or with an infinite supply, this marketplace operates more similarly to those in the crypto world.
My Neighbor Alice’s marketplace is all about letting players buy and sell assets by directly interacting with other players.
Most of these assets have some level of scarcity to them in the sense that they are not generated through infinite in-game faucets. This gives these assets an innate value that goes beyond their appearance, similar to the way that popular blockchain projects like Bored Yacht Ape Club have popularized.
Lummelunda Archipielago Lummelunda Archipelago is the name of the world in which My Neighbor Alice’s titular Alice lives and players get to create. Divided into 6 islands with their own style and ecosystem, players will be able to buy virtual plots from Alice or other players in the marketplace, plots which will transform into something completely unique.
This is the virtual world players get to interact with and share, being the scenario for their very own stories. Players also get to interact with different Non-Player Characters like Alice, Björn the Bear, Beekeeper Bob, Ivan the Merchant, and Shipwright José. These neighbors will provide players with a plethora of content and directions, making the gaming experience much more rewarding and interactive.
Player Avatars and In-Game Assets Identity plays a key role in My Neighbor Alice, and players are represented by customizable avatars that can be shaped in numerous ways. These avatars serve as the player’s identity within the game world, visible to others as they explore and socialize.
In addition to avatars, players can acquire in-game assets such as houses, animals, decorations, and cosmetic items, all of which can be bought and sold in the marketplace.
Players can also use the NFT creator tool to design their own assets and monetize their creations, opening up new opportunities for creativity and entrepreneurship.
Progression System One of the defining factors of sandbox games is that there is no predefined objective. This, while alluring to many players, can make it difficult for some players to get into the games as they lose focus along the way or are overwhelmed by the sheer freedom. Without clear goals, some may lose focus or feel discouraged, unsure of where to start or what to pursue next.
My Neighbor Alices has a progression system that manages to keep objective-oriented players engaged by providing feedback and general guidance, all without sacrificing player freedom. Players also get rewarded for completing these quests, and even for being recognized as “good citizens”, further developing the social aspect of the game.
The ALICE Token The ALICE token is the main currency in My Neighbor Alice, both serving as an in-game asset and as an ERC20 token. With a fixed supply, the token allows holders to engage in various aspects of the game, from purchasing assets and land to participating in governance and DeFi opportunities.
In addition to its in-game utility, the ALICE token supports decentralized finance (DeFi) features. Token holders can stake ALICE to earn rewards, participate in governance by voting on platform developments, and influence key decisions in the virtual world. This integration of DeFi allows players to earn passive income, control in-game developments, and drive the game’s evolution.
The Team Behind the Curtain The development of My Neighbor Alice is backed by a strong team, with Chromia, a decentralized public blockchain, playing a critical role in the game’s infrastructure.
Chromia started and maintained by ChromaWay, is designed to offer blockchain scalability and ease of use for both developers and users. Its architecture combines relational databases with blockchain technology, making it an ideal solution for complex game designs, particularly those that involve dynamic, on-chain logic.
The game’s investors include names like NGC Ventures, The Sandbox, The Blockchain Game Alliance, Binance Labs, Ankr, Maker, and more. The team has also established important partnerships with brands like Elle, bringing even more customization and value to its players.
Conclusion My Neighbor Alice is a prime example of how gaming can evolve by embracing both creativity and the growing potential of blockchain technology.
By combining the charm of familiar sandbox games like Animal Crossing with decentralized features such as NFTs and DeFi, it offers players more than just a traditional gaming experience. Players not only get to create and own their virtual world but can also engage with a broader ecosystem that includes decentralized marketplaces, governance, and a progression system that rewards their efforts.
With gaming continuing to grow and solidify its position as a dominating industry, titles like My Neighbor Alice are just what web3 needs to go mainstream. By offering a seamless entry into the world of NFTs, DeFi, and virtual ownership, it is paving the way for the future of gaming to be more inclusive, innovative, and player-driven. Also, it is extremely fun!
For the purpose of connecting NFT communities and improving interoperability, the initiative has been given a budget of 100,000 $ALICE. The launch of The Alice Collective will also attract more attention to the My Neighbor Alice game, which considerably improves the overall experience. In an effort to broaden the Alice universe, previously awarded the Binance Project of the Year, My Neighbor Alice has announced the launch of The Alice Collective, a grants program for third-party projects. For the purpose of connecting NFT communities and improving interoperability, the initiative has been given a budget of 100,000 $ALICE.
Through the participation of web3 communities and the incorporation of the Alice IP into pre-existing blockchain ecosystems and non-fungible token collections, the Alice Collective intends to hasten the expansion of My Neighbor Alice. By using the lore and narrative that has developed around My Neighbor Alice, it will provide assistance to builders who are interested in developing new experiences and opening up new opportunities.
The allocation of 100,000 $ALICE will be distributed among a limited group of partners and communities who are committed to expanding the Alice universe and providing functionality that will resonate with current players and enable cross-platform cooperation. Projects who are interested in joining The Alice Collective and submitting a grant application are encouraged to submit an application with a detailed description of their proposal here.
The Alice Collective will be able to extend interoperability to other NFT collections that are part of the Alice world via the implementation of this endeavor. The objective is to increase the number of initiatives that are centered on connection, narrative, and a common vision. By doing so, it will open up new options for what may be developed with the open world that is now centered around My Neighbor Alice, as well as provide new chances for creators to take advantage of.
The debut of The Alice Collective will also attract more attention to the My Neighbor Alice game, which considerably improves the overall experience of playing the game by bringing additional elements such as crafting stations, missions, and levels to explore. The game has a robust in-game economy, which allows users to create things and items and trade them with one another via a peer-to-peer marketplace.
The Alice Collective will push the boundaries of the Alice universe while also preparing the way for a plethora of significant improvements that are described in the game’s roadmap. These include the introduction of a User-Generated Content Tool, which will allow creators to make in-game products, as well as a decentralized NFT bridge, which will enable trading of ERC721 tokens, which will further improve interoperability. Following their implementation, these enhancements will further improve usefulness while also providing creators with additional tools with which to build.
Built on Chromia, My Neighbor Alice is a fully on-chain multiplayer game that places a major emphasis on self-expression, cooperation, and communities. Within the Lummelunda Archipelago, players have the opportunity to discover, collect resources, create one-of-a-kind NFTs, and shape their very own virtual world.
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Through a partnership with Persona Journey, Alice will be introduced to the world of Persona, which is characterized by the convergence of web3 and retro technology. Persona’s highly engaged community, which enthusiastically invites cooperation, was a major factor in My Neighbor Alice’s decision to form a partnership. The Alice Collective, a group whose mission is to broaden the scope of the My Neighbor Alice world, has made the announcement of its pioneering alliance. Through a partnership with Persona Journey, Alice will be introduced to the world of Persona, which is characterized by the convergence of web3 and retro technology.
As a digital collection, Persona Journey is a collection that combines vintage elements with contemporary technology. Persona uses technologies from the past, such as cassette tapes, Walkmans, Polaroids, and Betamax, and repackages it in modern packaging that employs artificial intelligence and web3 technology. The world of Alice will now be expanded by using this combination of nostalgia and innovation, which will be harnessed.
Persona’s highly engaged community, which enthusiastically invites cooperation, was a major factor in My Neighbor Alice’s decision to form a partnership with the platform. Through this relationship, not only will My Neighbor Alice be introduced to a new audience, but also Persona Journey will be brought into the limelight, which will encourage more web3 natives to explore the nostalgic collections that the company offers.
As part of the continuous series of themed events that will be held inside My Neighbor Alice and Persona Journey, the relationship will be brought to life directly. In addition, there will be gaming evenings, which will be hosted by My Neighbor Alice and Persona Journey, respectively, and will be accompanied with rewards that will complement the entertainment. There will also be a collection of individualized emotes that will be made available just in Lummelunda.
The launching of a Prismatic Collection that will be launched in Alice, replete with wearables that have been produced just for the occasion, is another highlight that arose as a result of the partnership. A number of surprises, including livestreams, special guests, and other surprises, are also planned to commemorate the continued cooperation between Alice and Persona.
Furthermore, My Neighbor Alice intends to eventually include persona-based activities into its Rewards Boards. This will provide the community with the option to acquire $ALICE in addition to other one-of-a-kind rewards. Participants will be eligible for airdrops and other surprises if they successfully complete in-game activities, social media missions, and other contests that are gamified.
This relationship with Persona is the first of many such partnerships that The Alice Collective intends to collaborate on in order to bring together worthwhile initiatives and provide communities the opportunity to participate. There is an invitation sent to Web3 projects that are in agreement with its goal and that are interested in being a part of the Alice universe to submit a funding application and begin the process of working together.
Developed on Chromia, My Neighbor Alice is a completely onchain multiplayer game that places a major emphasis on self-expression, cooperation, and communities. Within the Lummelunda Archipelago, players have the opportunity to discover, collect resources, create one-of-a-kind NFTs, and shape their very own virtual world.
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My Neighbor Alice has recently announced an exclusive $ALICE adventure Airdrop Party. My Neighbor Alice is renowned as a multilayered builder game and a former Binance “Project of the year.” In the Alice Birthday Party celebrations, the game aims to empower its community by distributing 500,000 $ALICE tokens for more than four months.
The event will start on the 3rd of June, marking the largest airdrop in the total history of the game. This event is set to leverage gameplay, community engagement, and creativity to provide users with a competitive and fun way of earning rewards.
A Massive Airdrop to Begin Across Four Waves The Rewards Board of My Neighbor Alice is central to this massive campaign, dividing into four distinct waves. Chapter One is A New Adventure, starting on the 3rd of June. This wave aims to encourage participants to collect points, leading to the major launch on the 17th of June.
In the first wave, 50,000 $ALICE tokens will be distributed with an increasing reward pool in every wave. The final wave will allow leaderboard performers to access 400,000 $ALICE, wrapping up on the 14th of October. During Wave 1, the members who meet the minimum point threshold will gain the reserved 100,000 tokens.
Extra Excitement Brought by Game Nights, Leaderboard Resets, and NFT Tickets Every four weeks, the leaderboard will be reset to keep competition fresh and enthusiastic. In this tenure, the members will benefit from new tasks and opportunities. The in-game quests, content creation, referral system, and social media sharing will give players an opportunity to earn extra points. In the progression of events, the additional rewards and exclusive NFT-crafting tickets will be offered in game nights. This overall advancement will increase the user experience.
My Neighbor Alice is set to transform on-chain gaming, focusing on creativity, community, and decentralization. The platform is poised to empower players to become a part of the metaverse adventure by exploring, building, and expressing themselves completely.
AUTHOR
Crypto journalist with years of experience providing in-depth analysis and news on blockchain and decentralized finance. With a keen eye for detail, Shahzaib delivers insightful articles that explore the latest trends, market movements, and innovations within the crypto and blockchain ecosystem. His work focuses on educating readers while offering expert commentary on the evolving landscape of digital assets, DeFi protocols, and the broader impact of blockchain technology.
My Neighbour Alice (MNA), the blockchain multiplayer builder game, has announced the Pudgy Penguins integration, coming with a new winter-themed expansion. The collaboration will introduce ‘The Pudgy Land’ to the Snowflake Wilds region, and it will offer utility to NFT owners both in-game and in the customization department. The integration sees 8,888 Pudgy Penguins, 22,222 Lil Pudgys and 7,399 Pudgy Rods enter the MNA universe as 3D avatars, ready to be rendered.
The update allows owners of Pudgy NFTs to gain access to new in-game functions, together with quests, emotes, and fishing equipment that are associated with their particular resources. Snowflake Wilds is the seasonal location where users will be able to explore, craft and play with their NFTs.
When entering the metaverse, all avatars are presented in the form of an egg, which subsequently opens and displays the player’s exact characteristics of the NFT. The move is one of the significant steps in the evolution of blockchain gaming and cross-chain interoperability.
Pudgy NFT Perks Unlocked as Winter Quests Launch for All in MNA In the near future, the owners of the Pudgy Penguins NFTs will be able to edit in-game profiles, attach Pudgy Rod skins, and complete special NPC tasks to get winter-themed rewards. The partnership also involves unique emotes and wearables that Pudgy owners will be able to create and make money out of. These mechanics have boosted economies within games because they have associated digital ownership with real-time interaction within the game.
At the same time, features will be reserved for Pudgy NFT holders, while My Neighbour Alice has unveiled seasonal content to its wider community. Every player will have an opportunity to participate in winter quests and themed rewards, which contribute to the concept of inclusive participation mentioned by MNA. This new content addition came with the release of Chapter One: A New Beginning, which was released on June 17.
Building an Open and Interoperable Game Ecosystem ChromaWay VP of Games and MNA Steve Haassenpflug called the partnership a march towards an open metaverse. The introduction of Pudgy makes all of its items native 3D assets in-game, giving the NFT interaction a cross-platform scale.
The collaboration brings value to Chromia’s overarching goal of building player economies, which are driven by on-chain technology. This is the first of many such cross-brand integrations to happen in My Neighbour Alice, which will serve to enhance the experience of playing the game as well as push the use case of NFTs in virtual worlds.
AUTHOR
Crypto journalist with years of experience providing in-depth analysis and news on blockchain and decentralized finance. With a keen eye for detail, Shahzaib delivers insightful articles that explore the latest trends, market movements, and innovations within the crypto and blockchain ecosystem. His work focuses on educating readers while offering expert commentary on the evolving landscape of digital assets, DeFi protocols, and the broader impact of blockchain technology.
My Neighbor Alice will include three Pudgy collections that will be given to life as three-dimensional characters. As a result of the agreement with Pudgy Penguins, all 8,888 Pudgy Penguins, 22,222 Lil Pudgys, and 7,399 Pudgy Rods Collections will be included into My Neighbor Alice collection. For the purpose of establishing a new Pudgy Land region, multiplayer builder game My Neighbor Alice (MNA) has announced that it has formed a partnership with Pudgy Penguins. In addition, the partnership will result in the development of unique quests and the integration of all Pudgy NFTs, complete with their own characteristics. This will represent a significant step forward in terms of interoperability across different chains.
My Neighbor Alice will include three Pudgy collections that will be given to life as three-dimensional characters. This will give players the opportunity to explore the game’s open world with their preferred avatar. Holders of Pudgy will also get unique access to Pudgy Land, a place where they may congregate and engage in conversation with other individuals who share their enthusiasm for the adorable penguins.
As a result of the agreement with Pudgy Penguins, all 8,888 Pudgy Penguins, 22,222 Lil Pudgys, and 7,399 Pudgy Rods Collections will be included into My Neighbor Alice collection. The holders of the popular NFTs will be able to benefit from this by gaining access to new missions and games inside the MNA universe.
Both new and current players will have extra incentives to accomplish tasks inside My Neighbor Alice as a result of this partnership, which corresponds with the launch of Chapter One: A New Beginning on June 17. In the process, the alliance establishes new standards for web3 interoperability, demonstrating what can be accomplished when leading projects connect across a variety of blockchain ecosystems.
Steve Haßenpflug, VP of Games at ChromaWay and My Neighbor Alice, said:
“With this partnership we’re pushing the envelope when it comes to interoperability. We haven’t just integrated the Pudgy Penguins brand but have made all 40,000 items awaken as native 3D assets within My Neighbor Alice. Now, Pudgy holders can see their own unique NFTs come to life in-game, interact with the world, enjoy exclusive gameplay and even create new experiences for others. That’s the power of connected ecosystems and a big step towards the open metaverse.”
In an effort to broaden the scope of the Alice universe, Snowflake Wilds, a chilly and emotionally satisfying winter wonderland, has been built. With Pudgy Land at its core, the community has a place to congregate, go on quests, make crafts, and communicate with one another. Those who own Pudgy Penguins and Lil Pudgy’s will be able to see their buddy beginning as an egg and then hatching to disclose the specific NFT possession that they have. Additionally, they have the ability to personalize their in-game profile by using their Pudgy Penguin, and individuals who wield a Pudgy Rod may attach a fishing rod skin that is unique to them and use it to catch unique fish.
One of the other tie-ins that resulted from the partnership between MNA and Pudgy was the creation of a collection of emotes with a Pudgy theme that holders were able to create on their own. The owners of Pudgy have the extraordinary power to develop and sell these emotes to other players inside the game, which opens up significant chances for them to make money off of their ownership of NFTs.
There are certain perks of the partnership that are just accessible to Pudgy holders, but there are other possibilities that are open to the whole MNA community. For example, there are seasonal missions that give out prizes that are related to winter. Pudgy holders, on the other hand, will have the ability to make unique themed clothing and accessories, as well as participate in special tasks that are granted by Pudgy-styled non-player characters.
Lummelunda will see an increase in the number of visitors as a result of the relationship with Pudgy Penguins, which will also result in the introduction of a new winter season and the beginning of a new season of My Neighbor Alice. This is the first of many integrations that will bring popular IP and NFT collections into My Neighbor Alice. These integrations will provide fresh opportunities to connect with one another and explore an open world that is shaped by the community.
My Neighbor Alice is a multiplayer builder game that is developed on Chromia’s Blockchain. It provides a gaming experience that is entirely on-chain and takes place on a delightful virtual island. The use of Blockchain technology enables participants to acquire and exchange virtual assets (NFTs). Players are able to purchase, sell, and trade these non-fungible tokens (NFTs) via the game’s marketplace, which results in the creation of a dynamic and player-driven virtual economy. Players are able to participate in community activities, win rewards, and monetize their works, all of which contribute to the development of a feeling of ownership and teamwork.
Through the development of cutting-edge technologies that facilitate a smooth onboarding process, Pudgy Penguins is committed to ensuring that Web3 is available to all users. By putting an emphasis on empowering communities and increasing brand recognition, they have become the most dominant intellectual property (IP) in the Web3 domain, while simultaneously undermining the conventional IP realm. They are dedicated to having an effect on the average customer and to influencing the future of IP, Web3, and beyond. Please visit pudgypenguins.com for more information.
https://www.pudgypenguins.com/ gives you further information.
Pudgy NFT holders will have exclusive access to Pudgy Land, a dedicated area in My Neighbor Alice built for interaction, exploration, and crafting.
My Neighbor Alice (MNA), a blockchain-based multiplayer builder game, has partnered with Pudgy Penguins to introduce a new in-game region called Pudgy Land. The collaboration enables full integration of the Pudgy Penguins, Lil Pudgys, and Pudgy Rods NFT collections into the MNA universe.
Notably, the partnership coincides with the launch of Chapter One: A New Beginning on June 17, marking a fresh start for the game. MNA players can now explore new quests and winter-themed content in a newly added environment called Snowflake Wilds. This area is part of the broader Pudgy Land experience.
Exclusive Pudgy Land Features for NFT Holders NFT holders from the Pudgy community will have exclusive access to Pudgy Land, a zone within My Neighbor Alice designed for social interaction, exploration, and crafting. All 8,888 Pudgy Penguins, 22,222 Lil Pudgys, and 7,399 Pudgy Rods will be rendered as unique 3D avatars inside the MNA world.
These NFTs can be used as playable characters, starting as eggs that hatch into the user’s specific asset. Holders can customize their profiles with Pudgy traits and use Pudgy Rods to engage with themed fishing mechanics. These features add depth to the immersive experience in Pudgy Land.
My Neighbor Alice’s VP of Games, Steve Haßenpflug, described the integration as a major step toward blockchain interoperability. He said the project has made over 40,000 Pudgy NFTs functional in-game as native 3D assets, enabling new forms of user-driven content and gameplay.
A New NFT Gameplay The MNA update introduces new Pudgy-themed content, including non-player characters (NPCs), interactive quests, and craftable wearable items tailored for NFT holders. Players can also create emotes tied to their NFTs and sell them to others within the MNA ecosystem.
While several features are exclusive to Pudgy holders, the seasonal update also includes general quests and winter-themed items available to all players. This blend of exclusive and accessible content is designed to attract both new users and existing NFT communities.
Looking ahead, the collaboration marks the beginning of a broader initiative to integrate more NFT projects into the Alice metaverse. My Neighbor Alice aims to foster cross-collection interoperability while expanding its open-world, community-driven gameplay.
The multiplayer game is creating a new winter wonderland zone for everyone and a private enclave for owners of the popular NFTs.
Pudgy Penguins are getting their metaverse on again.
Not satisfied with staying confined to their own Pudgy World metaverse, Pudgy Penguins are expanding into a new virtual world, according to a press release shared with The Defiant. The beloved NFT brand is integrating with My Neighbor Alice, a web3 multiplayer game, as part of a broader partnership.
A core part of the partnership is a special zone in the game built for Pudgy Penguin NFT collection holders. My Neighbor Alice will feature a special Pudgy Land region in its new Snowflake Wilds, “a frosty, feel-good winter wonderland” area of the game.
While Snowflake Wilds are open to everyone, Pudgy Land is exclusively for owners of Pudgy Penguin NFTs, including Lil Pudgys and Pudgy Rod collection holders. Pudgy Land is a part of the game “where the community can hang out, quest, craft, and connect,” according to the press release.
Holders of Pudgy Penguins and Lil Pudgys will enter the game with their NFT as an egg that hatches to become their specific NFT. Holders of Pudgy Rods, which are fishing rods created to accompany each Pudgy Penguin NFT, will be able to equip them with custom fishing rod skins and use them to catch special fish.
“With this partnership we're pushing the envelope when it comes to interoperability,” said Steve Haßenpflug, vice president of games at ChromaWay and My Neighbor Alice in a statement, continuing:
“Now, Pudgy holders can see their own unique NFTs come to life in-game, interact with the world, enjoy exclusive gameplay and even create new experiences for others. That’s the power of connected ecosystems and a big step towards the open metaverse.”My Neighbor Alice is built on the Chromia blockchain, where players can own, trade and sell virtual asset NFTs. Pudgy Penguins NFT collections are based on Ethereum.
Penguins EverywhereThe Pudgy Penguin brand’s own Pudgy World metaverse, built on ZKSync, is currently in closed beta but promises to launch “soon.”
December’s launch of the project’s Solana-based PENGU token via airdrop was controversial, and characterized by high volatility for both the token and the NFT collection, with Pudgy Penguins’ floor price spiking as high as 25 ETH as the launch approached. It is currently 9.24 ETH, according to NFTPriceFloor.
Last month, Pudgy Penguins waddled over to the TON blockchain, allowing 1 billion-plus Telegram users to play Pengu Clash, a multiplayer skill game with mini-games like darts, football and bomber with token-based incentives, tournament rules, unlockable gear, accessories and team cosmetics, according to Pudgy Penguins. It is “pay-to-win” free, the company said in a release.
Also in May, Pudgy Penguins revealed that it was expanding its off-chain activities beyond physical plushies to publishing a children’s book with Random House titled “The Worst Birthday Present Ever.”
NFT prices have dropped dramatically since the airdrop high, which lasted through January, but could be going up if the Securities and Exchange Commission green-lights Canary Capital’s proposed Pudgy Penguin ETF, which will hold PENGU tokens as well as up to 15% of its assets in Pudgy Penguin NFTs.
PENGU is up about 2% on the day and 16% on the week, according to The Defiant’s price data.
Memecore ($M) is back in the spotlight, surging 55% in the past week and breaking out of a stubborn descending wedge pattern.
Backed by heavy trading volume and an $870M market cap, the move has traders eyeing a potential 160% push toward its all-time high near $1.
Why does this matter? Because Memecore’s breakout isn’t just a single-chart anomaly; it’s a signal that meme coin momentum is waking up again after weeks of sluggish price action.
When a mid-cap like Memecore starts ripping, it often stirs up retail FOMO across the entire sector.
That renewed energy is why it’s worth watching the meme coin landscape closely. In this piece, we’ll break down three of the most compelling plays right now: two high-potential presales that could ride this wave early, plus one established pick with plenty of room to run.
Why Memecore’s Breakout Could Signal a Meme Coin Rally Memecore’s breakout above its descending wedge has flipped a key resistance zone between $0.43 and $0.55 into support, setting up a clean technical base for further upside.
This consolidation is drawing attention from prominent traders like innovatorYK and CryptoSmith0x, whose bullish calls are helping fuel social volume and renewed interest in meme coins.
Adding to the momentum is the broader market backdrop. The ongoing Solana ETF hype is funneling fresh liquidity into the best altcoins, while Ethereum’s steady recovery is keeping cross-chain traders engaged. For meme coins, this mix of catalysts often sparks outsized moves — and Memecore is currently leading the charge.
Just as critical, Memecore’s $27M in 24-hour trading volume shows real capital is flowing, signaling conviction from both retail and whales.
The best meme coins are also evolving, blending their satirical roots with emerging utility and community-driven features. With Memecore heating up, it’s time to look at three meme coins poised to ride this wave next:
1. Maxi Doge ($MAXI) – The Alpha Meme Coin for Traders Maxi Doge ($MAXI) is a full-blown degen lifestyle play.
Priced at $0.0002505, with over $320K raised in its presale, $MAXI embraces a 1000x leverage, gym-pumped narrative that’s turning heads across Crypto Twitter.
Its ‘final form,’ the Doge branding leans into pure hustle culture: nonstop grind, relentless green candles, and zero room for paper hands.
What sets $MAXI apart is its forward-looking roadmap. The team has teased potential partnerships and even futures trading features designed to position $MAXI as more than a Dogecoin derivative.
Early staking rewards (currently 797%) are also on the table, rewarding diamond-handed traders willing to lock in for the long haul.
Social momentum is building fast, with an expanding community of ultra-aggressive traders who see $MAXI as the meme coin to dominate this cycle. With Memecore reigniting the sector, $MAXI looks primed to flex even harder.
2. TOKEN6900 ($T6900) – The Honest, No-Utility Meme Coin TOKEN6900 ($T6900) is what happens when you strip a meme coin down to its rawest form: zero utility, no roadmap, and no empty promises.
Priced at $0.006825 with over $1.6M raised in its presale, it’s a satirical jab at traditional finance, even mocking the S&P 500 with its unapologetically absurd branding.
Unlike the wave of ‘AI-powered’ meme coins with overinflated pitches, TOKEN6900 thrives on brutal honesty. Its fixed supply and fair presale have won over a growing army of meme purists who are sick of utility theater and just want the real degeneration back.
This anti-Wall Street positioning has sparked genuine community buzz, making $T6900 one of the most talked-about presales on Ethereum. With staking rewards (currently 38%) adding a layer of degen-friendly tokenomics, it’s a project that fully embraces the culture.
In a market where authenticity hits harder than any narrative, TOKEN6900 feels tailor-made for the current high-risk, high-reward crypto climate.
3. Pudgy Penguins ($PENGU) – The Established Meme Icon Going Mainstream Pudgy Penguins ($PENGU) is a cultural heavyweight in the meme coin industry. With a ~$2.2B market cap and price around $0.035 (up 118% in the past month), $PENGU has cemented itself as one of the most recognized names in crypto.
Its partnerships stretch far beyond Web3: from Walmart selling plushies to Random House book deals and even NASCAR collaborations, it’s bridging the gap between memes and mainstream markets.
PENGU’s ecosystem also brings utility. Its NFT-driven brand extends into Web3 gaming integrations like My Neighbor Alice, creating a mix of culture and commerce that few meme coins can match. Recent ETF speculation and even McDonald’s swapping its PFP to a Pudgy avatar only add fuel to the fire.
For traders hunting a meme coin with staying power, $PENGU stands out. It’s a maturing brand with the potential to bring meme culture into the global spotlight.
Final Verdict: Meme Coins Are Heating Up Again Memecore’s breakout is more than a single-coin rally – it’s a signal that meme coin momentum is swinging back in full force. When liquidity, social buzz, and community conviction align, even the most satirical tokens can rip.
For those hunting early exposure, $MAXI and $T6900 bring two radically different presale narratives: high-octane trader culture and unapologetic meme maximalism.
Meanwhile, $PENGU stands as a battle-tested favorite, proving that memes can evolve into mainstream brands with staying power.
Still, meme coins are volatile by nature. Treat them as high-risk, high-reward plays, and always do your own research (DYOR) before you buy anything.
Lido Staked Ether's (CRYPTO: STETH) price has increased 3.5% over the past 24 hours to $2,702.31. Over the past week, STETH has experienced an uptick of over 8.0%, moving from $2,424.34 to its current price. As it stands right now, the coin's all-time high is $4,829.57.
The chart below compares the price movement and volatility for Lido Staked Ether over the past 24 hours (left) to its price movement over the past week (right). The gray bands are Bollinger Bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.
The trading volume for the coin has tumbled 93.0% over the past week along with the circulating supply of the coin, which has fallen 0.03%. This brings the circulating supply to 9.79 million. According to our data, the current market cap ranking for STETH is #8 at $26.45 billion.
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Lido Staked Ether's (CRYPTO: STETH) price has decreased 4.04% over the past 24 hours to $2,550.41, continuing its downward trend over the past week of -1.0%, moving from $2,583.70 to its current price.
The chart below compares the price movement and volatility for Lido Staked Ether over the past 24 hours (left) to its price movement over the past week (right). The gray bands are Bollinger Bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.
The trading volume for the coin has fallen 33.0% over the past week which is opposite, directionally, with the overall circulating supply of the coin, which has increased 2.0%. This brings the circulating supply to 9.82 million. According to our data, the current market cap ranking for STETH is #8 at $24.99 billion.
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Over the past 24 hours, Lido Staked Ether's (CRYPTO: STETH) price has fallen 3.11% to $2,579.70. This continues its negative trend over the past week where it has experienced a 4.0% loss, moving from $2,679.76 to its current price.
The chart below compares the price movement and volatility for Lido Staked Ether over the past 24 hours (left) to its price movement over the past week (right). The gray bands are Bollinger Bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.
The trading volume for the coin has decreased 59.0% over the past week, while the overall circulating supply of the coin has increased 0.26% to over 9.82 million. The current market cap ranking for STETH is #8 at $25.32 billion.
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Crypto whales are offloading large amounts of Ethereum (ETH), adding sell pressure to a correction in digital asset markets.
Blockchain tracking firm Lookonchain says that “many whales are dumping ETH” through a number of different platforms and exchanges in apparent panic.
[adinserter block="1"]
“This whale exchanged 4,591.8 Lido Staked Ether (stETH) directly for 4,589.5 ETH at a loss of 2.3 ETH($6K) to avoid the long withdrawal process.
He then deposited all 5,145 ETH ($13.3M) into Binance for sale.”
Source: Lookonchain/X Lookonchain spotted another whale similarly depositing nearly $50 million in ETH to sell on Coinbase, the biggest crypto exchange in the US.
“A whale is selling 19,000 ETH ($49.17M)!
This whale requested a withdrawal of 30,007 Lido Staked Ether (stETH) ($78.67M) 4 days ago and claimed 19,000 ETH ($49.17M).
And the whale is depositing the 19,000 ETH ($49.17M) to Coinbase to sell!”
Another two whales were seen selling 8,208 ETH worth $21.59 million in order to repay debts on lending platform Aave to avoid being liquidated.
And an additional whale, originally buying ETH well above $3,000 in March and April, apparently capitulated and has been selling their holdings at a loss on Binance.
“Another whale sold 5,088 ETH ($13.58M) at a loss of $3.66M.
This whale withdrew 5,088 ETH ($17.24M) from Binance at $3,389 from Mar 28 to Apr 3.”
Source: Lookonchain/X Ethereum reached its high for the year at $4,115 in March, and is now down to $2,583 at time of writing.
Lido Staked Ether's (CRYPTO: STETH) price has decreased 4.34% over the past 24 hours to $2,581.75, continuing its downward trend over the past week of -0.0%, moving from $2,595.70 to its current price.
The chart below compares the price movement and volatility for Lido Staked Ether over the past 24 hours (left) to its price movement over the past week (right). The gray bands are Bollinger Bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.
The trading volume for the coin has increased 13.0% over the past week, while the overall circulating supply of the coin has decreased 0.19%. The current market cap ranking for STETH is #8 at $25.29 billion.
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Over the past 24 hours, Lido Staked Ether's (CRYPTO: STETH) price has fallen 7.01% to $2,220.43. This continues its negative trend over the past week where it has experienced a 11.0% loss, moving from $2,514.58 to its current price.
The chart below compares the price movement and volatility for Lido Staked Ether over the past 24 hours (left) to its price movement over the past week (right). The gray bands are Bollinger Bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.
The trading volume for the coin has increased 255.0% over the past week while the overall circulating supply of the coin has increased 0.32% to over 9.81 million. The current market cap ranking for STETH is #8 at $21.79 billion.
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Lido Staked Ether's (CRYPTO: STETH) price has increased 3.0% over the past 24 hours to $2,344.75, which is in the opposite direction of its trend over the past week, where it has experienced a 1.0% loss, moving from $2,333.90 to its current price. As it stands right now, the coin's all-time high is $4,829.57.
The chart below compares the price movement and volatility for Lido Staked Ether over the past 24 hours (left) to its price movement over the past week (right). The gray bands are Bollinger Bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.
The trading volume for the coin has fallen 54.0% over the past week, moving in tandem, directionally, with the overall circulating supply of the coin, which has decreased 0.24%. This brings the circulating supply to 9.77 million. According to our data, the current market cap ranking for STETH is #8 at $22.91 billion.
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Lido Staked Ether's (CRYPTO: STETH) price has increased 4.81% over the past 24 hours to $2,544.41. Over the past week, STETH has experienced an uptick of over 6.0%, moving from $2,377.96 to its current price. As it stands right now, the coin's all-time high is $4,829.57.
The chart below compares the price movement and volatility for Lido Staked Ether over the past 24 hours (left) to its price movement over the past week (right). The gray bands are Bollinger Bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.
The trading volume for the coin has increased 98.0% over the past week while the overall circulating supply of the coin has increased 0.05% to over 9.75 million. The current market cap ranking for STETH is #8 at $24.79 billion.
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Over the past 24 hours, Lido Staked Ether's (CRYPTO: STETH) price has fallen 4.24% to $2,439.49. This continues its negative trend over the past week where it has experienced a 6.0% loss, moving from $2,625.87 to its current price.
The chart below compares the price movement and volatility for Lido Staked Ether over the past 24 hours (left) to its price movement over the past week (right). The gray bands are Bollinger Bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.
The trading volume for the coin has increased 122.0% over the past week while the overall circulating supply of the coin has increased 0.09% to over 9.81 million. The current market cap ranking for STETH is #8 at $23.93 billion.
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Over the past 24 hours, Lido Staked Ether's (CRYPTO: STETH) price has risen 3.92% to $2,444.64. This continues its positive trend over the past week where it has experienced a 1.0% gain, moving from $2,428.48 to its current price. As it stands right now, the coin's all-time high is $4,829.57.
The chart below compares the price movement and volatility for Lido Staked Ether over the past 24 hours (left) to its price movement over the past week (right). The gray bands are Bollinger Bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.
The trading volume for the coin has fallen 41.0% over the past week, moving in tandem, directionally, with the overall circulating supply of the coin, which has decreased 1.13%. This brings the circulating supply to 9.72 million. According to our data, the current market cap ranking for STETH is #8 at $23.76 billion.
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Lido Staked Ether's (CRYPTO: STETH) price has decreased 5.08% over the past 24 hours to $2,486.35, continuing its downward trend over the past week of -6.0%, moving from $2,622.75 to its current price.
The chart below compares the price movement and volatility for Lido Staked Ether over the past 24 hours (left) to its price movement over the past week (right). The gray bands are Bollinger Bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.
The trading volume for the coin has increased 6.0% over the past week while the overall circulating supply of the coin has increased 0.56% to over 9.75 million. The current market cap ranking for STETH is #8 at $24.20 billion.
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Over the past 24 hours, Lido Staked Ether's (CRYPTO: STETH) price rose 3.2% to $2,713.84. This continues its positive trend over the past week where it has experienced a 6.0% gain, moving from $2,560.09 to its current price. As it stands right now, the coin's all-time high is $4,829.57.
The chart below compares the price movement and volatility for Lido Staked Ether over the past 24 hours (left) to its price movement over the past week (right). The gray bands are Bollinger Bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.
The trading volume for the coin has increased 71.0% over the past week, while the overall circulating supply of the coin has decreased 0.04%. The current market cap ranking for STETH is #8 at $26.43 billion.
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Lido Staked Ether's (CRYPTO: STETH) price has increased 9.31% over the past 24 hours to $2,680.88, which is in the opposite direction of its trend over the past week, where it has experienced a 0.0% loss, moving from $2,664.17 to its current price. As it stands right now, the coin's all-time high is $4,829.57.
The chart below compares the price movement and volatility for Lido Staked Ether over the past 24 hours (left) to its price movement over the past week (right). The gray bands are Bollinger Bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.
The trading volume for the coin has risen 54.0% over the past week diverging from the circulating supply of the coin, which has decreased 0.1%. This brings the circulating supply to 9.75 million. According to our data, the current market cap ranking for STETH is #9 at $26.11 billion.
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After momentarily sliding below important support levels, Ethereum (ETH) is once again on the climb. After a significant change in market mood, the second-largest digital asset by market capitalization passed $2,900.
Interestingly, Eric Trump, the son of US President Donald Trump, weighed in on the situation, remarking that it is a strategic opportunity to acquire ETH.
Tariff Pause Sparks Market Rebound Concerns over possible tariffs on Canada and Mexico rattled the crypto market earlier this week. Both Bitcoin and Ethereum fell significantly; Ethereum dropped momentarily to around $2,360. Still, the temporary suspension of the tariffs by Trump offered a breather, which raised investor confidence in risk assets including cryptocurrency.
In the wake of the announcement, Ethereum experienced a robust recovery, with a nearly 20% increase. Traders interpreted this as an invitation to re-enter the market, and ETH promptly reclaimed the $2,900 mark.
In my opinion, it’s a great time to add $ETH.
— Eric Trump (@EricTrump) February 3, 2025
Eric Trump’s Crypto Endorsement Raises Eyebrows Eric Trump posted his optimistic view on Ethereum on social media. He first said, “In my opinion, it’s a great time to add $ETH. You can thank me later.” Although the subsequent section of his remarks was deleted, crypto investors saw resonance in his endorsement of Ethereum’s future development.
The Trump family has been progressively involved in the digital asset sector, particularly through their World Liberty Financial platform. This most recent statement serves to emphasize their involvement and potential long-term dedication to blockchain technology.
ETHUSD trading at $2,722 on the daily chart: TradingView.com World Liberty Financial’s Significant Ethereum Transaction World Liberty Financial recently made a substantial move in the crypto space, which has served to further fuel speculation. The firm transferred over $300 million in assets to Coinbase’s custody platform, according to blockchain analytics firm Spot On Chain. Furthermore, they acquired an additional 1,826 ETH for approximately $5 million and converted nearly 20,000 Lido Staked Ether (stETH) into ETH.
World Liberty Financial (@worldlibertyfi) moved $307.41M in 8 assets to #CoinbasePrime 6 hours ago—as part of treasury management and business operations.
Shortly after, the project unstaked 19,423 $stETH to $ETH and further spent 5M $USDC to buy 1,826 $ETH at $2,738.… https://t.co/Rp9NAFUs5N pic.twitter.com/5bfIvJma7U
— Spot On Chain (@spotonchain) February 4, 2025
These transactions indicate that the company is making preparations for the introduction of its “Earn and Borrow” lending protocol. Although the protocol is still in the process of being developed, the substantial transfers suggest that the platform could soon play a significant role in decentralized finance (DeFi).
Ethereum’s Prospects Still Remain Positive As institutional interest is rising and the price of the top altcoin has recaptured higher levels, Ether remains a central focus in the crypto market. Macroeconomic changes, strategic investments, and political influence taken together provide an interesting dynamic for ETH’s future course.
Featured image from Gemini Imagen, chart from TradingView
The Lazarus Group has laundered stolen crypto from last week’s record-shattering Bybit hack through the exchange eXch, according to the blockchain research firm Elliptic.
Hackers looted nearly $1.5 billion worth of Ethereum (ETH) and Lido Staked Ether (stETH) from Bybit on Friday.
[adinserter block="1"]
The attack represented the largest crypto hack ever and possibly the biggest heist in world history.
Elliptic, pseudonymous on-chain investigator ZachXBT and other researchers have pinned the exploit on the Lazarus Group, a prolific North Korean cybercriminal outfit known for numerous high-profile hacks on major crypto platforms.
In a new analysis, Elliptic notes that Lazarus’ money-laundering process typically follows the same steps. First, the group exchanges any stolen tokens for a native blockchain asset like Ethereum, because ETH can’t be frozen by a central authority.
Source: Elliptic Subsequently, the cybercriminal outfit “layers” the stolen funds through multiple wallets, exchanges, cross-chain bridges and crypto mixers to obfuscate the transaction trail.
Elliptic says that Lazarus is currently in the middle of the second step.
“Within two hours of the theft, the stolen funds were sent to 50 different wallets, each holding approximately 10,000 ETH. These are now being systematically emptied – as of 1pm UTC on February 24, 14.5% of the stolen assets (now worth $195 million) have been moved from these wallets.
Once moved out of these wallets, the funds are being laundered through various services, including DEXs (decentralized exchanges), cross-chain bridges and centralized exchanges.
However, one service has emerged as a major and willing facilitator of this laundering. eXch is a cryptocurrency exchange, notable for allowing its users to swap cryptoassets anonymously. This has led them to being used to exchange hundreds of millions of dollars in crypto assets derived from criminal activity, including multiple thefts perpetrated by North Korea. Despite attempting to conceal this activity, our analysis shows that since the hack, crypto assets stolen from Bybit worth over $75 million have been exchanged using eXch. Despite direct requests from Bybit, eXch has refused to block this activity.”
Over the weekend, eXch took to the BitcoinTalk forum to deny claims it was laundering crypto for Lazarus, though it did cop to processing an “insignificant” portion of the stolen Bybit funds.
“1. eXch is NOT laundering money for Lazarus/DPRK (North Korea).
2. The insignificant portion of funds from the ByBit hack eventually entered our address 0xf1da173228fcf015f43f3ea15abbb51f0d8f1123 which was an isolated case and the only part processed by our exchange, fees from which we will be donated for the public good.
3. Any claims by ZachXBT and others on Twitter regarding transactions not related to 0xf1da173228fcf015f43f3ea15abbb51f0d8f1123 that are falsely attributed to eXch are a targeted FUD attack on our exchange.”
Bybit CEO Ben Zhou says the firm has restored a 1:1 backing on all client assets after the record-setting hack, and the Dubai-based exchange announced a full restoration of services on Saturday.
The controversial exchange eXch plans to close its doors in May after facing allegations that it laundered crypto stolen in the record-setting Bybit exploit earlier this year.
In February, hackers looted nearly $1.5 billion worth of Ethereum (ETH) and Lido Staked Ether (stETH) from Bybit in the largest crypto theft ever and possibly the biggest heist in world history.
[adinserter block="1"]
The blockchain research firm Elliptic, pseudonymous on-chain investigator ZachXBT and other researchers pinned the exploit on the Lazarus Group, a prolific North Korean cybercriminal outfit known for numerous high-profile hacks on major crypto platforms.
Elliptic also said that Lazarus used eXch as part of its process to launder the stolen crypto. The exchange denied the money-laundering allegations, though it did cop to processing an “insignificant” portion of the stolen Bybit funds.
This week, eXch took to the BitcoinTalk forum to announce it was shutting down on May 1st, claiming that “friends” in the state intelligence sector confirmed the exchange is the target of an “active transatlantic operation.”
“Even though we have been able to operate despite some failed attempts to shut down our infrastructure (attempts that have also been confirmed to be part of this operation), we don’t see any point in operating in a hostile environment where we are the target of SIGINT (Signals Intelligence) simply because some people misinterpret our goals. Starting from the date of the merger with a new management team this month, and as a result of some urgent meetings, the majority of us voted to cease and retreat instead of going against strong winds, because none of us want to cause any harm to innocent people or this forum.”
The crypto market has experienced a modest correction, with several major coins witnessing small declines amid a broader bull run.
This dip comes amid significant whale activity, revealing divergent strategies among the crypto market’s largest players.
Crypto Whales Play Both Sides: Accumulating and SellingBeInCrypto Markets data revealed that over the past 24 hours, the broader crypto market has dropped 3.83%. Furthermore, 7 of the top 10 cryptocurrencies are in the red.
Bitcoin (BTC), the flagship crypto, dipped 0.48% over the past day. Ethereum (ETH), Lido Staked Ether (STETH), and TRON (TRX) bucked the trend, with the latter posting the highest gains of 3.19%.
Crypto Market Performance. Source: BeInCrypto MarketsMeanwhile, (Micro) Strategy has bought the dip. The firm announced the acquisition of 21,021 BTC, valued at approximately $2.46 billion. The average purchase price was $117,256 per coin.
This purchase, funded through a $2.5 billion initial public offering of Variable Rate Series A Perpetual Preferred Stock (STRC), increases the company’s total holdings to 628,791 BTC. The firm is now sitting at an unrealized profit of $28.18 billion.
“With approximately $2.521 billion of gross proceeds, this is the largest US IPO completed in 2025 to date based on gross proceeds and the largest U.S. exchange-listed perpetual preferred stock offering in the U.S. since 2009,” the firm added.
Furthermore, its year-to-date BTC yield stands at 25%. This acquisition aligns with the company’s pattern of leveraging equity and debt to bolster its BTC reserves, a strategy that has positioned it as a leading institutional holder.
Besides Strategy, Lookonchain highlighted that Anchorage Digital, a digital asset platform and infrastructure provider, has also increased its Bitcoin exposure.
“Anchorage Digital has accumulated 10,141 BTC($1.19 billion) from multiple wallets over the past 9 hours,” Lookonchain posted.
In contrast, a previously dormant investor’s activities indicated a more profit-oriented approach. Lookonchain reported that after 12 years of dormancy, a Bitcoin holder transferred out 343 BTC, worth $40.52 million. Of this, the ‘Bitcoin OG’ deposited 130.77 BTC, valued at $15.45 million, to Kraken.
“This OG received 343 BTC (around $29,600 at the time) 12 years ago, when the BTC price was $86. That’s a 1,368x return!,” the blockchain analytics firm revealed.
This small transfer follows one of the largest Bitcoin transactions ever executed in the cryptocurrency’s history. BeInCrypto reported that Galaxy Digital sold over 80,000 Bitcoin, worth more than $9 billion, on behalf of a long-term investor.
Ethereum’s market has similarly seen contrasting whale behaviors. A new wallet (0x3dF3) accumulated 12,000 ETH worth over $45 million through Galaxy Digital.
“Since July 9, a total of 9 fresh wallets have accumulated 640,646 ETH ($2.43 billion),” Lookonchain wrote.
However, this accumulation is offset by sell-offs. An on-chain analyst noted that Galaxy Digital deposited 5,000 ETH worth $19.28 million into Coinbase, and Cumberland also transferred 10,592 ETH worth approximately $40.79 million to the same exchange.
Moreover, Fidelity also followed the same path and sent 12,981 ETH valued at around $49.7 million to Coinbase.
“The institutional address suspected to be HashKey Capital transferred 12,000 ETH to OKX the day before yesterday, and then withdrew 46.16 million USDT from OKX yesterday. In other words, those 12,000 ETH have been sold at a price of $3,847,” analyst EmberCN added.
Thus, the crypto whales’ divergent strategies—accumulation versus liquidation—illustrate varying risk appetites and outlooks in the market.
PANews reported on December 4th that WisdomTree's fully staked Ethereum ETP has officially launched, according to the official Lido blog. Its "WisdomTree Physical Lido Staked Ether ETP" (trading code: LIST) is the first ETP product in Europe that only holds stETH minted through the Lido protocol. The product's structure avoids the non-staking buffer mechanism commonly used in traditional products during subscription and redemption.
LIST is listed and traded on the Deutsche Börse Xetra platform, the Swiss SIX stock exchange, and Euronext in Paris and Amsterdam. This product, through holding stETH, provides investors with exposure to staking ETH and its corresponding on-chain staking rewards in a listed product format that aligns with existing institutional business frameworks. At the time of its listing, LIST had approximately $50 million in assets under management and a management fee of 0.50%.
The crypto market capitalization has moved higher over the past day, with broad gains across major coins reflecting improving investor sentiment.
At the same time, the rebound has squeezed bearish positions, with over $468.5 million in short liquidations recorded during the 24-hour window.
Crypto Liquidation Wave Hits Short SellersAccording to BeInCrypto Markets data, total market capitalization has increased by 4.29%. The majority of the top 10 cryptocurrencies have posted gains over the past 24 hours.
Dogecoin (DOGE) jumped 9.10%, marking the strongest performance among the 10 largest cryptocurrencies. Lido Staked Ether (STETH) followed, advancing 8.83%. Ethereum (ETH) ranked third among the top performers, jumping 8.75% and reclaiming the $2,000 level.
Bitcoin (BTC) also posted notable gains, climbing 4.76% over the past day. The flagship cryptocurrency briefly touched $70,027 on Binance yesterday before retracing slightly to trade at $68,647 at press time.
Crypto Market Recovery On February 26. Source: BeInCrypto MarketsBeInCrypto reported that the rally benefited some long traders who recorded profits amid ETH’s latest rise. However, traders betting on further downside saw losses.
According to Coinglass, 128,348 traders were liquidated over the past 24 hours, with total liquidations reaching $575.59 million. Short traders bore the brunt of the losses, accounting for $468.53 million in liquidations, compared to $107.06 million in long positions.
Crypto Market Liquidations. Source: CoinglassBitcoin alone accounted for roughly 40% of total liquidations, with approximately $194.95 million in short positions liquidated. ETH recorded $203.8 million in total liquidations during the same period, with $175.16 million stemming from short positions.
The largest single liquidation order occurred on Hyperliquid for the BTC-USD pair, valued at $10.41 million.
Leveraged positions over the past 7 days have just turned positive.
With today’s short liquidations in BTC, what remains now are longs.
The market works like this — it moves toward where weak hands are most heavily exposed.
That’s easy money for exchanges and the liquidity… pic.twitter.com/UtZ7px3KVr
— Joao Wedson (@joao_wedson) February 25, 2026 Analysts Warn Crypto Relief Rally May Not Signal Full Trend ReversalThe recent rally has sparked optimism, but analysts warn it may not mark a full trend reversal. According to XWIN Research Japan, Open Interest has fallen sharply from prior highs, signaling a broad deleveraging phase.
“The recent drop in price was accompanied by falling OI, suggesting that liquidations and derivatives-driven unwinds — rather than aggressive spot selling — played a major role in the decline. This type of reset can stabilize the market, but it does not automatically signal renewed structural demand,” XWIN Research Japan wrote.
At the same time, Binance’s Fund Flow Ratio remains low at around 0.012. Since this metric tracks BTC inflows relative to total exchange holdings, a low reading suggests limited immediate sell pressure.
The analysis added that during the drop toward the mid-$60,000 range, the ratio did not spike. This suggested there was no panic-driven spot selling.
However, XWIN Research Japan noted that weak inflows do not imply strong accumulation. The medium-term trend of the Fund Flow Ratio’s moving averages is trending downward. It indicates that structural demand has not yet shifted upward.
“When leverage remains suppressed, upward price moves can easily trigger short squeezes. In that case, the rally is driven more by position unwinding than by expanding structural demand,” the post read.
Analyst Darkfost also stressed that an increase in spot trading volume will be necessary for any bullish recovery or solid market bottom to develop.
The Frax community has approved a proposal to use BlackRock’s Institutional Digital Liquidity Fund (BUIDL) as collateral for its upcoming frxUSD stablecoin.
The proposal, identified as FIP-418, received unanimous support after a six-day voting period.
The Increasing Demand for BlackRock’s BUIDL FundBlackRock’s BUIDL fund manages over $648 million in assets and provides yield-generating opportunities for frxUSD holders. Achieving this approval is a significant step for the Frax Protocol.
BlackRock is the largest asset manager in the world, with over $10.4 trillion in global assets. So, being backed by its tokenized fund can potentially minimize counterparty risk for the stablecoin’s collateral.
Frax Portocol’s Proposal Receives 100% Votes to Use the BUIDL Fund. Source: SnapshotAlso, this move reflects a growing trend among stablecoin projects to introduce yield-bearing options that reward holders financially while maintaining stability.
Securitize, the brokerage firm managing the BUIDL fund, initially proposed the idea on December 22. The frxUSD stablecoin will be pegged to the US dollar at a 1:1 ratio and backed by US government securities through BUIDL.
Meanwhile, other projects have also adopted BUIDL as collateral for stablecoins. Ethena Labs launched the USDtb (USDTB) stablecoin on December 16, backed by the BUIDL fund. The asset’s current market capitalization is $70 million.
In November, Curve Finance enabled users to mint Elixir’s deUSD (DEUSD) yield-bearing stablecoin using BUIDL as collateral.
Distribution of BlackRock’s BUIDL Fund. Source: DeFilLamaThe Rise of Real-World Asset TokenizationIn late 2024, BlackRock expanded BUIDL to five major blockchains. This included Aptos, Arbitrum, Avalanche, Optimism, and Polygon.
These developments align with BlackRock’s broader digital asset strategy, which includes initiatives like the IBIT Bitcoin ETF and tokenized funds.
Overall, the adoption of tokenized real-world assets (RWAs) continues to grow. In 2024, several major players achieved milestones in this area, setting the stage for further developments in 2025.
For example, Tether plans to roll out its Hadron RWA tokenization platform by February. This will offer institutional investors direct access via APIs.
Also, Hedera has integrated Chainlink Data Feeds and Proof of Reserve mechanisms to enhance its DeFi and RWA capabilities.
RWA Tokenization Global Market Overview. Source: RWA.XYZIn short, the Frax community’s decision to integrate BlackRock’s BUIDL fund into its stablecoin highlights the increasing overlap between traditional finance and blockchain-based innovations.
This shift reflects the potential for real-world asset tokenization to transform the stablecoin industry.
Key NotesFrax Finance’s frxUSD will now be backed by the BlackRock BUIDL Fund.The DeFi project aims to bridge DeFi and CeFi with the frxUSD stablecoin.The number of stablecoin issuers is growing, with RLUSD joining the trend. Frax Finance, a well-known Decentralized Finance (DeFi) protocol, is breaking new ground in the stablecoin market by combining blockchain technology with traditional finance through its frxUSD stablecoin backed by BlackRock’s BUIDL tokenized money market fund, as reported by The Block.
BlackRock’s BUIDL Token: A Cornerstone for Stability BlackRock’s BUIDL token, a digital version of a money market fund, is central to this breakthrough. Managed by the world’s largest asset manager, the fund invests in high-quality assets like the US Treasury bills and cash, offering unmatched trust and stability.
By using BUIDL to back its frxUSD stablecoin, Frax Finance sets a new standard for security and liquidity in crypto. In a statement, Frax Finance founder Sam Kazemian highlighted the significance of this partnership.
He emphasized that frxUSD combines blockchain transparency with BlackRock’s top-tier treasury assets, with the partnership facilitated quickly by Securitize, the broker-dealer for BlackRock’s BUIDL token, who drafted and submitted a governance proposal to Frax’s Decentralized Autonomous Organization (DAO) that received strong support and quick approval, showing the DAO’s confidence in the plan.
Frax announced that BUIDL will now serve as a key reserve asset for creating and redeeming frxUSD. This makes it a stable and trusted foundation for the token. Additionally, Ethena’s USDtb stablecoin is also backed by BlackRock’s BUIDL fund, facilitated by Securitize
Frax Finance frxUSD: A Bridge Between DeFi and Traditional Finance The frxUSD stablecoin aims to offer seamless on-chain and off-chain usability. Through a partnership with Paxos, frxUSD holders can directly convert the token into fiat currency. It would make it more accessible to everyday users and institutional players alike.
This feature supports Frax’s larger goal of gaining access to the US Federal Reserve Master Account. Achieving this would strengthen frxUSD’s position as a functional stablecoin. Frax Finance chose BlackRock’s BUIDL token as the backing for its frxUSD stablecoin for a clear reason: reliability and trust.
This decision was not random. It reflects Frax’s goal to create a stablecoin that earns both the confidence of DeFi and traditional finance users. Using BUIDL, Frax connects two financial worlds, paving the way for a new generation of stablecoins.
As other projects like Ethena (ENA) gain traction, the success of frxUSD could lead to more partnerships that connect blockchain and traditional finance.
Following Ripple’s approach to DeFi integration with traditional finance, the company launched RLUSD stablecoin in 2024, a token pegged to the US dollar and backed by government bonds, USD deposits, and cash equivalents, while continuing to push tokenization initiatives through both RLUSD and its L1 protocol XRP Ledger.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
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Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.
Frax Finance has announced the launch of its new stablecoin, frxUSD, which will be backed by BlackRock’s BUIDL tokenized fund. This development marks a collaboration between traditional financial institutions and decentralized blockchain ecosystems, offering users a stable and yield-bearing digital asset option.
BlackRock BUIDL Fund Becomes Backing Asset for frxUSD The Frax community has passed FIP-418, a governance proposal that enables BlackRock’s United States Dollar Institutional Digital Liquidity Fund (BUIDL) as collateral for the frxUSD stablecoin. The vote which took six days garnered full support from the Decentralized Autonomous Organization (DAO).
To this end, Frax Finance stated that BUIDL will function as the ‘custodian asset’ for the creation and creation of frxUSD. The Fund, however, invests in fairly liquid instruments including cash, U.S Treasury bills, and repurchase agreements. Frax founder Sam Kazemian said;
“frxUSD is a bridge between the blockchain world with its openness and programmability and BlackRock’s prime treasury products with their credibility.”
BlackRock’s BUIDL fund, which has as of now more than $648 million in AUM, expects to minimize counterparty risk while maximizing frxUSD holders’ yield opportunities. This decision is in line with the recent development in the stablecoin market that has seen the adoption of real-world asset (RWA) backing.
Features of the Frax Finance’s frxUSD Stablecoin The newly launched frxUSD stablecoin is pegged to the U.S. dollar on a 1:1 ratio which forms a good condition for price stability for the users. Frax Finance has integrated with Paxos in order to allow the conversion of frxUSD directly into fiat currency.
Furthermore, the frxUSD holders shall receive distribution from the yield generated from the underlying assets within the tokenized fund. The initiative comes as part of the Frax Finance’s strategy to bring traditional finance products into the world of decentralized finance.
The company also unveiled its intention to apply for access to the US Federal Reserve Master Account that would make frxUSD useful in the regulated markets.
Growing Adoption of BUIDL-Backed Stablecoins Frax’s frxUSD is the newest in a line of stablecoins whose value is anchored to BlackRock’s BUIDL token. Ethena Labs has introduced its own asset-backed stablecoin, USDtb, in December 2024 to be backed by BUIDL. The stablecoin has a market capitalization of $70 million and is intended to mitigate the volatility associated with synthetic dollar offerings in volatile market conditions.
Similarly, in the decentralized exchange, Curve Finance, users have been able to mint Elixir’s deUSD stablecoin using BUIDL as collateral. Such advancements suggest that more tokenized funds are being used, particularly for the collateral of stablecoins such as BUIDL.
On the same note, the introduction of frxUSD is timely given that the stablecoin market is in the process of transformation following shifts in the regulatory environment. The Markets in Crypto-Assets (MiCA) regulation of the European Union came into force in its entirety on December 30, 2024, and has set new standards for stablecoin issuers.
At the same time, BlackRock’s participation in the tokenized assets market proves that traditional financial institutions are gradually stepping in to connect Web3 and traditional finance. With $10.4 trillion in assets under management, BlackRock’s participation in the digital asset space inclusive of Bitcoin ETF record achievements is viewed as a step toward broader institutional acceptance of blockchain-based financial products.
Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...
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January 3, 2025
The Frax community has approved a proposal to use BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL) as collateral for its upcoming frxUSD stablecoin.
The proposal, known as FIP-418, passed unanimously after six days of voting, the team said in an official press release.
According to the approved proposal, the tokenized BUIDL fund will not only back the frxUSD stablecoin but also offer potential yield-bearing opportunities for its holders.
The collaboration with BlackRock, which manages over $10.4 trillion in assets, also minimizes counterparty risk by collateralizing the stablecoin with a highly reputable and stable fund.
Collaboration with BlackRock to Create a Stable and Transparent frxUSD BackingFrax Finance founder Sam Kazemian praised the decision, noted that the stability of BlackRock’s prime treasury offerings, combined with the blockchain transparency, would create a powerful and trustworthy foundation for the frxUSD stablecoin.
“This collaboration is a significant step toward bridging traditional finance with decentralized systems,” Kazemian said in a statement.
The decision to back frxUSD with BUIDL aligns with the growing trend of creating yield-bearing stablecoins, which offer holders financial rewards in addition to stability.
The move also follows a similar initiative by Securitize, the brokerage firm for BUIDL, which proposed backing frxUSD with BUIDL on December 22, 2024.
The frxUSD stablecoin will be pegged 1:1 to the U.S. dollar and collateralized by U.S. government securities.
The proposal is part of a broader trend toward integrating traditional financial assets with DeFi solutions.
Earlier, Ethena Labs launched a BUIDL-backed stablecoin, USDtb, in December, with a market capitalization of approximately $70 million.
Additionally, decentralized exchange Curve Finance announced that users would be able to mint Elixir’s deUSD yield-bearing stablecoin using BUIDL as collateral starting in November 2024.
The growing interest in yield-bearing stablecoins reflects a shift in investor demand, as traditional stablecoins offering no interest face increasing competition from new DeFi solutions.
Tokenization Market Could Reach $16T by 2030McKinsey & Company recently reported that tokenized financial assets have had a “cold start” but are still expected to grow to a $2 trillion market by 2030.
Meanwhile, a report by the Global Financial Markets Association (GFMA) and Boston Consulting Group estimates the global value of tokenized illiquid assets will reach $16 trillion by 2030.
Even more conservative estimates from Citigroup suggest that $4 trillion to $5 trillion worth of tokenized digital securities could be minted by 2030.
Recognizing this potential, major companies are making significant moves in the tokenization space.
Goldman Sachs, for instance, plans to launch three new tokenization products later this year, driven by growing client interest.
Some protocols have played a significant role in driving this growth, particularly in terms of active users.
Digital carbon market platforms like Toucan and KlimaDAO, as well as the real estate tokenization protocol Propy, have experienced substantial user growth.
It is worth noting that both public and private blockchains are witnessing the inclusion of various assets.
Frax Finance approved FIP-418 to use BlackRock’s BUIDL token as frxUSD collateral. The partnership bridges decentralized finance with traditional asset security. The Frax community has approved FIP-418, allowing BlackRock’s BUIDL token to collateralize the frxUSD stablecoin. This proposal passed unanimously after six days of voting, Frax Finance announced on Thursday.
BlackRock’s BUIDL token, a tokenized money market fund, invests in U.S. Treasury bills, cash, and repurchase agreements. It ensures stability, liquidity, and reduced counterparty risk for frxUSD holders. With over $10.4 trillion in assets under management, BlackRock adds trust to the partnership.
Frax Finance founder Sam Kazemian emphasized the synergy between blockchain transparency and BlackRock’s treasury reliability. He called the collaboration a milestone in bridging decentralized and traditional finance. The frxUSD stablecoin will be pegged 1:1 to the U.S. dollar, backed by U.S. government securities.
Are BUIDL and Yielding Stablecoins the Future? Securitize, the brokerage firm for BlackRock’s BUIDL, initially proposed using BUIDL as collateral on December 22. The stablecoin also supports fiat conversions through Paxos, making it accessible to retail and institutional users.
Frax Finance’s efforts align with its pursuit of a U.S. Federal Reserve Master Account. This would further legitimize frxUSD as a secure and functional stablecoin in both DeFi and CeFi spaces.
The move follows a growing trend of yield-bearing stablecoins. These stablecoins combine stability with financial rewards, attracting investors seeking alternatives to non-yielding options. Curve Finance and Ethena Labs have also utilized BUIDL for stablecoins like USDtb and deUSD.
McKinsey projects tokenized assets to reach $2 trillion by 2030. Other estimates suggest values between $4 trillion and $16 trillion by the same year. Major firms, including Goldman Sachs, continue to expand tokenization projects, signaling massive growth potential.
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Sam Kazemian, founder of Frax Finance, outlined the development and goals of FraxUSD, a decentralized stablecoin designed to integrate with both traditional finance and decentralized ecosystems.
🎙️Listen to Interview📺 Watch Video
Episode DescriptionThe upgraded FraxUSD offers redeemability through custodians like BlackRock and SuperState while providing competitive yields through diversified strategies. Kazemian described Frax’s broader vision as building a digital economy anchored by its flagship stablecoin and Fraxstool, a high-performance Ethereum Layer 2.
Frax Finance has proposed a $5 million investment in World Liberty Financial (WLFI), a DeFi platform closely associated with Donald Trump’s administration. The move aims to position FRAX as a leader in the growing U.S.-based decentralized finance (DeFi) ecosystem. A potential follow-up investment of $10 million is also being considered, contingent on the success of the partnership.
Frax Finance Proposes $5M Investment In WLFI The interest in U.S.-origin crypto initiatives has been fueled by the election of Donald Trump as the 47th President of the United States. The current administration has shown a great interest in the development of blockchain and cryptocurrencies. World Liberty Financial, a DeFi project that is closely aligned with Trump’s agenda of a crypto economy centred around the United States, has become a major player in this regard.
Frax Finance, which focuses on the algorithmic stablecoin, plans to incorporate frxUSD into the WLFI system. The proposal focuses on how the business can leverage on the governance structure, distribution network and partnership of WLFI.
As per the proposal, WLFI aims to bring millions of Americans into DeFi and help US based crypto projects. The first $5 million investment would enable FRAX to purchase WLFI tokens and thus become shareholders in its governance framework. A second phase of up to $10 million may be available if there is evidence of achievement of the initial goals.
WLFI’s Expanding Influence in U.S.-Based DeFi Though Trump had been vocal on the campaign trail about supporting cryptocurrency and blockchain technologies, he has not yet officially mentioned Bitcoin or any other virtual currency since taking the oath of office. This has raised eyebrows especially given that his administration was known to have pledged support to U.S based digital currency projects. Nevertheless, the actions of WLFI seem to be aligned with the pro-crypto agenda and are expanding actively in the DeFi sector.
The platform has recently added the leading DeFi tokens to its portfolio, including Ethereum (ETH), Chainlink (LINK), AAVE (AAVE), and Wrapped Bitcoin (BTC). According to the data, the ETH assets of WLFI have reached more than $184 million and the company also has sizable investments in other products.
In its governance structure, the WLFI community has the ability to participate in decision making within the ecosystem. For instance, Ethena Labs recently used WLFI’s governance platform to propose the use of its stablecoin as collateral in Aave. Similar governance options are also being considered for the frxUSD that can further enhance the use of FRAX within the WLFI domain.
FRAX’s Strategic Position in the Partnership Frax Finance has a unique position in this proposed collaboration due to its U.S. roots and co-founder Stephen Moore’s connection to the Trump administration.
Moore, a former economic advisor to Donald Trump, lends credibility to FRAX’s alignment with a U.S.-centric DeFi agenda.
The proposal outlines that this partnership would elevate FRAX’s status within the DeFi community. Integrating frxUSD as collateral in WLFI’s ecosystem could potentially increase adoption among millions of WLFI’s users. Additionally, FRAX stands to benefit from WLFI’s governance model, which could provide strategic influence over future decisions.
Key NotesFrax Finance proposes a $5 million investment in Trump-aligned DeFi platform WLFI.The partnership aims to integrate frxUSD into WLFI’s ecosystem, boosting adoption.The proposal has sparked both support and criticism within the crypto community. Renowned DeFi protocol Frax Finance has proposed a $5 million investment in World Liberty Financial (WLFI), a decentralized finance platform tied to newly elected US president Donald Trump. The proposal, aimed at strengthening FRAX’s position in the US-based DeFi ecosystem, also includes a potential $10 million follow-up investment based on the success of the collaboration.
Notably, if approved, the investment would see Frax Finance acquire WLFI tokens, securing a stake in its governance framework. The partnership is expected to integrate Frax’s algorithmic stablecoin, frxUSD, into WLFI’s growing ecosystem, enhancing its adoption among millions of potential users. However, the proposal has drawn mixed reactions from the community.
WLFI’s Growth and Political Ties WLFI has emerged as a significant player in US-centric DeFi, closely aligning its vision with the current administration’s pro-crypto stance. Despite President Trump’s silence on Bitcoin since taking office, WLFI’s actions signal a commitment to advancing US-based crypto projects.
WLFI has built a robust portfolio, including leading DeFi tokens such as Ethereum ETH $1 652 24h volatility: 1.3% Market cap: $199.35 B Vol. 24h: $14.70 B , Chainlink LINK $7.51 24h volatility: 1.6% Market cap: $5.62 B Vol. 24h: $297.75 M , and AAVE AAVE $82.10 24h volatility: 14.5% Market cap: $1.25 B Vol. 24h: $481.31 M , with ETH assets surpassing $184 million. Its governance structure allows community-driven decision-making, positioning WLFI as a decentralized yet strategically guided platform. Frax Finance’s involvement could bring additional credibility and functionality to this framework, particularly by introducing frxUSD as collateral in WLFI’s ecosystem.
Interestingly, Frax’s co-founder Stephen Moore is a former economic advisor to President Trump. This connection also allows the project to focus on the deep roots of US-centric blockchain strategy.
Community Reactions While the proposal has garnered praise on social media platforms like X, with some calling it a “huge” step, it has also faced criticism from within Frax’s governance forum. Detractors argue that investing $5 million in a project valued at $5 billion without a proven track record is risky. Concerns have also been raised about political associations alienating users who oppose the Trump administration, potentially hindering adoption.
Some community members voiced fears about the financial implications for Frax Share (FXS) holders, as the investment could create significant sell pressure on the token. Additionally, the WFLI token has recorded a sharp 300% increase in its price during the pre-sale. This has sparked concerns about early investors dumping their holdings after the launch, further destabilizing the market.
Meanwhile, the FXS token price dropped 10% after the proposal announcement. It is currently trading around $2.74 with a market cap of $240 million.
The path forward hinges on navigating community concerns and analyzing the partnership’s tangible benefits.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
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Donald Trump-tied WLFI has attracted decentralized stablecoin protocol Frax Finance's $10 million proposal.
Frax Finance has proposed a $5 million investment in WLFI – the native token of World Liberty Financial (WLFI), a decentralized finance (DeFi) platform tied to US President Donald Trump. The main objective behind this move is to position itself as a leading player in the “Made in USA” DeFi ecosystem.
The proposal, which was presented for community feedback, also includes an additional $5 million follow-on investment subject to the partnership’s success. This makes a potential total commitment of $10 million.
Fuels Frax Finance’s Bet on WLFI Frax Finance claims that World Liberty Financial (WLFI), which is built on Aave, is well-positioned to benefit from the Trump administration’s pro-crypto stance. WLFI is described as a key project aimed at introducing millions of Americans to DeFi, focusing on US-based initiatives and partnerships with companies like Chainlink and Ethena Labs. With $70 million invested in prominent DeFi assets such as Ethereum (ETH), Wrapped Bitcoin (WBTC), and Chainlink (LINK), WLFI has established a notable presence in the sector in a very short duration.
In addition to Frax Finance’s strategic alignment with WLFI to strengthen its status as a premier US-origin stablecoin, the decentralized stablecoin protocol is also co-founded by Stephen Moore, who happens to be a former economic advisor to President Trump.
By integrating FRAX’s frxUSD stablecoin as collateral within WLFI’s platform, Frax said that the focus is also on expanding its distribution, gaining access to millions of potential users, as well as influencing key governance decisions within the WLFI framework.
With WLFI’s valuation already surging from $1.5 billion to $5 billion, the investment offers potential for significant appreciation, particularly if WLFI succeeds in its mission to drive mass DeFi adoption under the Trump administration’s pro-crypto stance.
Justin Sun Deepens Ties with WLFI Trump unveiled World Liberty Financial in September last year to simplify access to financial services by removing intermediaries. Despite a rocky start, the project’s cumulative sales soared to $300 million by January 23, according to data compiled by Dune Analytics.
You may also like: Donald Trump Launches US Quantum Push With Two Executive Orders Is Bitcoin (And Peace) In Trouble as Trump Warns Iran of Fresh Strikes? Trump Says ‘You’re Welcome’ as Oil Is Flowing and Prices Are Dumping This week, Tron founder Justin Sun announced increasing TRON DAO’s stake with an additional $45 million investment, bringing the total to $75 million. Previously, Sun made a $30 million token purchase in November last year which made him the biggest stakeholder in the platform. WLFI later confirmed his appointment as an adviser the next day.
Bitcoin, Raydium, and Frax dominate crypto discussions as volatility, governance changes, and major BTC acquisitions drive market sentiment.
According to Santiment, Bitcoin (BTC), Raydium (RAY), and Frax (FRAX) are currently at the center of social media discussions.
Much of the growing discourse is focused on market volatility and governance changes within the crypto ecosystem.
The Top 3 Trending Tokens Santiment’s February 25 report reveals that BTC is getting attention due to a recent acquisition from Michael Saylor’s Strategy (formerly MicroStrategy).
The firm purchased 20,356 BTC for approximately $1.99 billion, increasing its total holdings to 499,096 BTC bought for around $33.1 billion. This investment, alongside a yield of 6.9% YTD 2025, has been widely discussed within the crypto market, particularly regarding its impact on the asset’s price fluctuations.
RAY is trending following a recent 29% decline in a day and a 50% slump since Friday that was caused by rumors of a competing platform launching its own automated market maker (AMM). This speculation has raised concerns over liquidity shifts within the Solana ecosystem, leading to increased investor attention toward the token.
Pump.fun is reportedly testing an AMM that, if implemented, could reduce the platform’s reliance on Raydium. The decentralized exchange currently facilitates trading for tokens launched on the Solana meme coin maker.
FRAX has also been a focal point in conversations, with debates surrounding tokenomics, governance, and inflation. Various proposals have been introduced regarding changes to the coin’s emissions, branding, and incentive mechanisms.
You may also like: Brutal Bitcoin Liquidation Cascade Imminent Below $59K, Warns Analyst Mining Profits Dry Up Across Bitcoin, DOGE, LTC, and BCH Saylor Should Stop Buying Bitcoin, Says CryptoQuant Ongoing discussions are centered on the token’s inflationary nature and relationship with FXTL and the potential impact these changes could have on its value and utility within the market.
Other Trending Cryptocurrencies on Santiment’s List The blockchain analytic firm also highlights Ethereum (ETH), Frax Shares (FXS), and Kendu Inu (KENDU) as trending digital assets. ETH has seen increased discussions following its association with GrokAI3.0, a new project focused on advancements in AI technology and its potential financial implications.
FXS, which is linked to FRAX, has also been widely mentioned, with many raising concerns about its potential dilution and implications for liquidity and value.
On its part, KENDU has gained attention as part of a growing community-driven approach to digital assets. According to Santiment, talks around it largely highlight the importance of strong group bonds and collective effort over speculative trading.
The token has been compared to cryptocurrencies like Shiba Inu (SHIB) and Dogecoin (DOGE), with enthusiasts emphasizing its long-term potential as the market evolves. Some believe it represents a shift toward community-focused investments rather than gambling and pump-and-dump schemes.
With EIP 1559 activated, Ether's economic model became similar to that of tech stocks, while Bitcoin (BTC) solidified its "store of value" status. That was a major mistake for Ethereum that damaged ETH, Frax and Everipedia founder says.
Ethereum's network utility fails to catalyze ETH priceEthereum (ETH), the largest smart contracts platform, remains "amazing" and is still on its way to becoming a major issuance layer in the world. At the same time, this inspiring tech journey has nothing to do with ETH price performance, Frax's Sam Kazemian shared on X.
This has been my thesis: Ethereum the network is amazing & going to be the major issuance ledger of the world. But very little, if any, of that value will be captured by the $ETH asset (due to ETH pivoting to a P/E DCF tech stock model). Empirical validation: https://t.co/91N2Sx8Qg6
— sam.frax (@samkazemian) April 10, 2025 As Ether (ETH) keeps disappointing its community, Kazemian sees the wrong narrative as a root cause of its underperformance. With periodical token burn events introduced by EIP 1559 activation on Aug. 5, 2021, ETH pivoted to the wrong utility model:
Biggest mistake was changing the social Overton window of EIP1559 burns as revenue/stock buybacks instead of 'ETH is digital gold/silver/oil like $BTC & some of the commodity gets used up every block as part of the design." Instead, it's now more tech stock instead of BTC-like.
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Also, he opined that, if an EIP 1559 analogue was implemented in Bitcoin (BTC), the "digital gold" narrative of BTC maxis would also be damaged.
As such, with its P/E DCF (price-to-earnings discounted cash flow) valuation model, the ETH cryptocurrency fails to benefit from the battle-tested utility of its underlying blockchain.
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As covered by U.Today previously, EIP 1559 with its fee burn events was the most radical upgrade of Ether tokenomics ever.
ETH/BTC routinely finds new low; is it over for Ether?Ethereum's (ETH) underperformance compared to major cryptocurrencies is in the spotlight for the global crypto community.
In his thread, Nic Puckrin, Coin Bureau founder and CEO, shared some reasons for this painful situation. He noticed that the average ETH owner bears paper losses right now.
Ethereum is having a rough year.
With ETHBTC hitting fresh 5-year lows, the data tells an uncomfortable story.
Will the bleed continue?
Here's what's really going on 👇
— Nic (@nicrypto) April 11, 2025 Ethereum (ETH) has lost its narrative battle to Bitcoin (BTC). Other L1s are eating its lunch when it comes to smart contracts deployment. Even Ether-based L2s siphon liquidity and damage ETH's value.
Institutional money — based on spot ETF performance in the U.S. — clearly chose Bitcoin (BTC) over Ethereum (ETH). Also, it is highly unlikely to benefit from monetary injections globally.
That's why more blood might be ahead for the ETH/BTC pair.
Today, on April 12 in early morning hours, ETH/BTC hit another bottom at 0.18666. It means that 1 Bitcoin (BTC) is now equal to 53.5 Ethers. This is the lowest rate for ETH/BTC since early 2020, data says.
In a positive development for the crypto community, the individual responsible for the GMX exploit accepted the platform’s bounty and returned over $40 million worth of assets stolen from the project.
Crypto Hacker Takes $42 Million From GMX On Friday, the recent GMX V1 exploit ended on a happy note after the individual responsible for the incident turned into a white-hat hacker. Perpetual and spot crypto exchange GMX lost over $40 million on Wednesday when an attacker exploited a vulnerability in the protocol’s first version on Arbitrum.
According to online reports, GMX V1’s vault contract had a vulnerability that allowed the attacker to manipulate the GLP token price through the system’s calculations.
Blockchain security firm SlowMist explained that “The root cause of this attack stems from GMX v1’s design flaw, where short position operations immediately update the global short average prices (globalShortAveragePrices), which directly impacts the calculation of Assets Under Management (AUM), thereby allowing manipulation of GLP token pricing.”
Through a reentrancy attack, they successfully established massive short positions to manipulate the global average prices, artificially inflating GLP prices within a single transaction and profiting through redemption operations.
As a result, approximately $42 million worth of assets, including Legacy Frax Dollar (FRAX), wrapped bitcoin (WBTC), wrapped ETH (WETH), and other tokens, were transferred from the GLP pool to an unknown wallet.
The perpetual crypto exchange halted GMX V1’s trading and GLP’s minting and redeeming on both Arbitrum and Avalanche to prevent another attack and protect users’ funds. However, they clarified that the exploit was limited to GMX’s V1 and its GLP pool. GMX V2, its markets, or liquidity pools, and the GMX token were not affected and remained safe.
White-Hat Claims $5 Million Bounty Following the incident, GMX sent a message on-chain and on X offering a $5 million white-hat bounty to the attacker, claiming that their abilities were “evident to anyone looking into the exploit transactions.”
GMX’s team noted that returning the funds within the next 48 hours and accepting the bounty would allow the hacker to “spend the funds freely,” instead of taking additional risks to access them. They also vowed not to pursue any legal action and to assist the exploiter in providing proof of source for the funds if it is ever required.
Today, the exploiter responded in an on-chain message, accepting the bounty and starting the return process. As Lookonchain reported, they initially returned $10.49 million worth of FRAX on Friday morning.
GMX exploiter accepts white-hat bounty. Source: Lookonchain on X Meanwhile, another $32 million worth of assets had been swapped into 11,700 ETH, which are now valued at $35 million after the King of Altcoins’ price jumped to the $2,990 mark.
In the following hours, the hacker returned 10,000 ETH, worth $30 million, keeping only 1,700 ETH, valued at $5.2 million, as the bounty.
GMX later confirmed that the funds have now been safely returned and thanked the white-hat hacker for their actions, ultimately giving a positive turn to the incident.
Lastly, they informed users that “contributors are working on a proposed distribution plan for presentation to the GMX DAO and will share more information shortly.”
GMX token trades at $13.24 in the one-week chart. Source: GMXUSDT on TradingView Featured Image from Unsplash.com, Chart from TradingView.com
