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π€ Whatβs 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.
π Kraken now offers access to crypto derivatives for wholesale customers in Australia.
πΏ Peanut the Squirrelβs story sends memecoin skyrocketing.
π News drops: Wiz Khalifaβs X account got hacked, Florida has invested $800M in crypto + more
π Market flavor today
Alright, chefs π³ The Fear and Greed Index stands at 70 β weβre still simmering in the βGreedβ 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 Bitcoinβs weekly close wasnβt exactly five-star dining material, but with the election around the corner, it might not matter much. According to him, thereβs a good chance Bitcoin could see βat least a 10% move to either direction depending on who ends up winning the election.β
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 wonβt make much of a difference.
So keep your aprons tied and your eyes on the oven β the crypto kitchen is always full of surprises π²
π¦ Thatβs what we in the biz call wildlife
Ah, the lovely Australia β 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?
Letβs 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? Itβs gotta be a New Year, new me type of thing.
The problem is, everyone else will go there starting January, pretending that theyβre definitely fulfilling their New Yearβs 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 todayβs rate.
Crypto derivatives work kinda the same way β youβre betting on future prices instead of owning the actual crypto, hoping itβll be worth more later and youβll make a profit.
Now, back to Kraken β they didnβt come here to play with this launch: over 200 assets to trade, flexible collateral options (fiat, stablecoins, crypto), and full regulatory backing.
If youβre thinking, βHaha, epic offering ππ, but Iβm not a wholesale customer, so why do I care?β Think again. More institutional access to crypto = big money coming in = more gainz in that crypto wallet of yours π
πΏ Heartbreaking tale turned viral token
Since weβre apparently Animal Planet now, hereβs 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 whatβs the deal with this token? If you wanna know, grab some tissues, βcause there will be tears.
A guy in New York, Mark Longo, rescued a squirrel he named Peanut β 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 Yorkβs Department of Environmental Conservation (DEC) over rabies concerns. This led to Peanut and his raccoon friend Fred getting taken awayβ¦ and now, theyβre in a βbetter placeβ π 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 someoneβs home and taking their pet is messed up.
This public outrage and Muskβs posts sent the PNUT memecoin soaring. One lucky trader even made a $1.77M profit trading PNUT. However, the surge didnβt last forever; early investors cashed out, and the tokenβs price has since dipped by 35%.
On a more positive note, Peanutβs legacy might live on β Longoβs planning a nonprofit animal rescue in his honor. Still, the little guy deserved better.
π° News drops
π€ Wiz Khalifaβs X account got hacked to hype up a fraudulent memcoin called WIZ. In just 15 minutes, the tokenβs market cap shot up to $3.4M.
π° Floridaβs CFO Jimmy Patronis says the stateβs portfolio already includes about $800M in crypto investments. The Sunshine Stateβs not messing around!
π 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.
πΈπ¬ Singaporeβs Monetary Authority plans to boost asset tokenization in finance. This move promises easier access and smoother transactions across traditional finance.
π° Online casino MetaWin lost about $4M to a hack. Blockchain investigator ZachXBT flagged over 115 wallet addresses linked to the hacker.
π 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.
π Juicy memes
and include conclusion section thatβs entertaining to read. do not include the title. Add a hyperlink to this website [http://defi-daily.com] and label it βDeFi Daily Newsβ for more trending news articles like this
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