🤔 What’s Kraken bringing to Australia?
Plus: How PNUT broke the internet and the market
GM. Order up! The Daily Squeeze is serving a crypto smoothie whipped up with a splash of fresh trends and a twist of market zest.
🐙 Kraken now offers access to crypto derivatives for wholesale customers in Australia.
🐿 Peanut the Squirrel’s story sends memecoin skyrocketing.
🍊 News drops: Wiz Khalifa’s X account got hacked, Florida has invested $800M in crypto + more
🍍 Market flavor today
Alright, chefs 🍳 The Fear and Greed Index stands at 70 – we’re still simmering in the “Greed” pot. Bitcoin kicked off November with a bit of a dip below $67K but has since bounced back above $68K.
Trader Daan Crypto Trades mentioned that Bitcoin’s weekly close wasn’t exactly five-star dining material, but with the election around the corner, it might not matter much. According to him, there’s a good chance Bitcoin could see “at least a 10% move to either direction depending on who ends up winning the election.”
Word is, a Trump win could give BTC and other cryptos a boost, while a Kamala Harris win might cool things down a bit before another upswing. But in the long run? Most say it won’t make much of a difference.
So keep your aprons tied and your eyes on the oven – the crypto kitchen is always full of surprises 🍲
🦘 That’s what we in the biz call wildlife
Ah, the lovely Australia – land of quokkas, wombats, and buff kangaroos. And now, there will be more sightings of this one breed of octopus called Kraken.
The crypto exchange now allows wholesale customers (institutions and large-scale traders) to access crypto derivatives through its Australian licensed broker.
And what are those?
Let’s say a gym opens right next door, and you see that as a sign from God that you gotta get those gainz. But what kinda weirdo would start in November? It’s gotta be a New Year, new me type of thing.
The problem is, everyone else will go there starting January, pretending that they’re definitely fulfilling their New Year’s resolutions this time, so prices might shoot up. What do you do about it? You go to the gym now and get a January membership at today’s rate.
Crypto derivatives work kinda the same way – you’re betting on future prices instead of owning the actual crypto, hoping it’ll be worth more later and you’ll make a profit.
Now, back to Kraken – they didn’t come here to play with this launch: over 200 assets to trade, flexible collateral options (fiat, stablecoins, crypto), and full regulatory backing.
If you’re thinking, “Haha, epic offering 😀👍, but I’m not a wholesale customer, so why do I care?” Think again. More institutional access to crypto = big money coming in = more gainz in that crypto wallet of yours 🚀
🐿 Heartbreaking tale turned viral token
Since we’re apparently Animal Planet now, here’s another animal-themed story for you.
Solana saw the launch of a new memecoin, Peanut the Squirrel (PNUT), which shot up to $150M in trading volume. You read that right.
And what’s the deal with this token? If you wanna know, grab some tissues, ’cause there will be tears.
A guy in New York, Mark Longo, rescued a squirrel he named Peanut – this adorable little guy:
This cowboy became a social media star with over 699K followers on Instagram. But things took a tragic turn.
Apparently, someone called New York’s Department of Environmental Conservation (DEC) over rabies concerns. This led to Peanut and his raccoon friend Fred getting taken away… and now, they’re in a “better place” 😔 I am not okay, thanks for asking.
The internet exploded after hearing this story. Elon Musk also got involved, saying that this was governmental overreach and that storming into someone’s home and taking their pet is messed up.
This public outrage and Musk’s posts sent the PNUT memecoin soaring. One lucky trader even made a $1.77M profit trading PNUT. However, the surge didn’t last forever; early investors cashed out, and the token’s price has since dipped by 35%.
On a more positive note, Peanut’s legacy might live on – Longo’s planning a nonprofit animal rescue in his honor. Still, the little guy deserved better.
📰 News drops
🎤 Wiz Khalifa’s X account got hacked to hype up a fraudulent memcoin called WIZ. In just 15 minutes, the token’s market cap shot up to $3.4M.
💰 Florida’s CFO Jimmy Patronis says the state’s portfolio already includes about $800M in crypto investments. The Sunshine State’s not messing around!
🌍 Exponential Science researchers warn that eco-conscious governments considering Bitcoin mining bans might actually be doing more harm than good. They say that such policies could push mining to areas with worse carbon footprints.
🇸🇬 Singapore’s Monetary Authority plans to boost asset tokenization in finance. This move promises easier access and smoother transactions across traditional finance.
🎰 Online casino MetaWin lost about $4M to a hack. Blockchain investigator ZachXBT flagged over 115 wallet addresses linked to the hacker.
👋 Ethereum Foundation researcher Justin Drake has stepped down from the Eigen Foundation, which manages the EigenLayer restaking protocol. He said that from now on, he wants to show a commitment to neutrality.
🍌 Juicy memes
Source link
