Why Memecoins are Exploding
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- 🟠 BTC nears USD high. Bitcoin surpassed its Euro-denominated all-time high on Monday, but all eyes are affixed on overcoming its previous USD high.
- 👽 $16M CryptoPunk sale. The NFT space is hoping for its own bull run; could the second-highest CryptoPunk sale ever kickstart it?
- 🐶 Memecoin surge. Could memecoins bring in serious retail excitement? Investors hope so, pumping up the prices of DOGE, SHIB, BONK, and PEPE in massive 24hr upward swings.
📊 March Memecoin Madness. Bitcoin price held steady at $62k throughout Saturday but resumed its ascension towards all-time highs on Sunday, gaining nearly 10% before topping out at $67.5k and leaving BTC within inches of uncharted price territory…
As the Risk Rally continues across broader crypto markets, signs of heavy retail participation are making themselves abundantly evident, with popular memecoins surging to life and posting triple-digit gains on the week!
| Prices as of 5pm ET | 24hr | 7d |
|
Crypto $2.48T | ↗ 4.8% | ↗ 18.7% |
|
BTC $67,297 | ↗ 7.1% | ↗ 23.2% |
|
ETH $3,576 | ↗ 2.8% | ↗ 12.2% |
Ethena has cemented itself as a major trending opportunity in crypto, but what are the risks?
Ethena Labs opened deposits into its synthetic dollar stablecoin to the public on February 19, injecting itself into the mind space of practically everyone on Crypto Twitter in the process.
Today, we’re discussing what Ethena does and dissecting the protocol’s risks to help you make an informed decision about whether aping this opportunity is the right play for you! 👇
SynFutures is Blast’s largest perps DEX with 140,000+ users. Backed by Pantera, Polychain, Standard Crypto, and more, V3 introduces oAMM, an onchain order book with a CLAMM. Stack Blast and SynFutures rewards while experiencing the most capital-efficient trading in DeFi derivatives.
Everyone has an opinion about Tether.
But what does Paolo think? Paolo Ardoino is the CEO of Tether, the $100 billion stablecoin company that owns more U.S. Treasuries than most countries.
We explore why Tether is winning and what really backs $USDT. We also cover the state of stablecoin regulation and market competitors.
It's Airdrop – and Memecoin – season!
Everyone is chasing memecoin profits at the ground floor. Pacmoon is aiming to fair-launch its "community coin" on the newly debuted Blast mainnet. We think there could be an opportunity, and we've added three quests for the memecoin to Airdrop Hunter.
Check them all out! 👇
Many Bankless Citizens who completed the Jito quests in our Airdrop Hunter app just earned five-figure airdrop paydays!
It's airdrop season, and plenty of other protocols are preparing to reward early users. Get on their lists. Start hunting!
Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.
Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here.