The crypto market has been on a rollercoaster lately. With the unpredictability of price swings, meme coin developments (like the Trump unlock), and the ever-evolving world of airdrops, it’s been an exciting yet volatile ride. As we navigate through these turbulent times, it’s important to stay updated on major events and trends, including the latest airdrop opportunities that could offer significant rewards. Let’s dive into some of the key stories shaping the crypto world today.
1) Trump Unlock Coming for $320M
U.S. President Donald Trump’s memecoin, TRUMP, is about to undergo a significant token unlock. This event, scheduled for next week, will release $320 million worth of tokens, roughly 20% of the circulating supply.
This unlock could cause additional turbulence for the thousands of investors who, in January, lost a collective $2 billion after purchasing the token. Since its launch, TRUMP has lost 83% of its value, now trading at $8.03, down from its initial price.
Typically, token unlocks are bearish events. They release a massive supply of tokens into the market without offering incentives to boost demand. While some investors might price in the upcoming release, it often leads to prices dropping to new lows in anticipation. If Trump and his team decide to sell their unlocked tokens, the impact could be devastating. With only a small market depth of 2%, a $320 million sell-off could lead to a steep price collapse.
As meme coins continue to lose favor, especially those launched under suspicious circumstances, the entire memecoin market cap has fallen drastically from $119 billion in December to just $45 billion today.
2) Airdrop Claim & Updates
Keeping track of airdrops is vital for anyone farming crypto rewards. It’s easy to miss out if you’re not paying attention. Here are some notable updates:
- KERNEL Airdrop: The claim is now live! Follow the official tweet to participate. Tokens are tradable on Blofin and Bybit.
- Virtual Protocol: This project has been listed on Binance, and there’s an active airdrop to claim. Head to AirdropAlert for more details.
Airdrops remain one of the best ways to earn free tokens, but always make sure to stay updated so you don’t miss out on an opportunity.
Read the cool story on how AirdropAlert started 8 years ago, and boosted the whole airdrop industry
3) CryptoPunk NFT Sells for 4000 ETH
The world of NFTs has seen its highs and lows, and recently, a CryptoPunk NFT that was once purchased for $16 million sold for a loss of over $10 million. This sale highlights the waning popularity of NFTs among investors.
The wallet behind CryptoPunk #3100, a rare “alien” punk, sold it for 4,000 ETH, which was about 500 ETH less than the previous sale. Despite this, the price remains high compared to the current floor price of CryptoPunks, which is around 42 ETH ($65,000). The NFT market, once full of hype and speculation, has started to see many holders cashing out at a loss as the bubble continues to deflate.
Related: Man faces jail time after tax fraud case with CryptoPunks.
4) Coinbase Caught in $15M Rug Pull Scandal on Base
In a surprising turn of events, Coinbase found itself embroiled in a $15 million rug pull scandal. The incident occurred when a memecoin called “Base is for everyone” was launched unexpectedly on the Zora platform. The token surged to a $17 million market cap in less than an hour, only to collapse by 90% shortly after.
Coinbase denied any involvement in the controversial launch, but the community raised concerns about the blurred lines between Web3 projects and financial meme tools. The rapid price crash following the token’s brief rise to fame is a classic example of the pump-and-dump scheme that often plagues memecoin markets.
More meme related news with Raydium launching Launchlab.
It’s not the only “rug” that happened this week. Recently, Mantra ($OM) crashed 90% in a day.
5) Canada Launches Spot Solana ETFs
Canada has made a significant step forward in the crypto industry by launching the first spot Solana ETFs in North America. This move provides investors with direct exposure to the price movements of SOL, the world’s sixth-largest cryptocurrency by market capitalization.
This follows Canada’s leadership in launching spot bitcoin and ether ETFs in 2021, making it the first country to offer such products. As the U.S. waits for approval from the SEC to launch similar products, Canada continues to break new ground in the world of cryptocurrency investing.
6) Scottish School to Accept Bitcoin for Fees
In a groundbreaking development, Lomond School, a prestigious Scottish boarding school, announced it will accept Bitcoin as payment for tuition fees. This move comes after requests from parents who wanted to pay with cryptocurrency. Although the school will convert Bitcoin into UK pounds to mitigate currency risk, this is a major step forward in the adoption of Bitcoin for everyday transactions.
This makes Lomond School the first private school in the UK to accept Bitcoin for tuition payments, aligning with its ethos of independent thinking and innovation. The school aims to ensure that all transactions are secure and compliant with UK financial regulations.
7) Gold Hits New All-Time Highs
Gold continues to shine as a safe haven, with its price hitting a new all-time high of $3,358 earlier this week. Although the price corrected slightly to $3,290, the precious metal remains strong. Trade talks between the U.S., Japan, and Mexico have offered some relief to global economic fears, but tensions with China continue to provide underlying support for gold prices.
The rise of gold, alongside ongoing geopolitical tensions, signals that investors are turning to tangible assets in uncertain times. It remains to be seen whether this upward trend will continue in the long term.
You can trade tokenized gold tokens and claim a bonus on Bybit. It’s for new and exciting users; for more details, here.
Final Thoughts:
The crypto market remains as unpredictable as ever, with volatility shaping everything from memecoins to NFTs. As we’ve seen with the Trump unlock, rug pulls, and the latest airdrops, the landscape is constantly changing. Investors need to stay alert and informed to avoid getting caught in the turbulence, whether it’s missing out on airdrop claims or being on the wrong side of a market crash.
As always, keep an eye on market updates, and don’t forget to check out the latest airdrop opportunities. Stay informed and stay ahead in this ever-evolving world of digital assets!
If you enjoyed this blog, you may want to check our other crypto news updates.
As always, don’t forget to claim your bonus below on Bybit. See you next time!
