Paldo: Trader Turns ₱44K to ₱195M in Moo Deng Memecoin Bet | Key Points | Sept. 27, 2024
In today's daily recap: a trader just became a millionaire. But is it luck or insider trading?
GM. Welcome back to BitPinas Key Points: easily digestible news in concise formats for easy reading. In today’s daily recap: a trader just became a millionaire. But is it luck or insider trading?
Here are the latest crypto news stories in the last 24 hours.
Market Analysis and Updates 📈
Here are the crypto highlights of the day:
Crypto Price Update
Bitcoin (BTC): $65,619.79, up 2.9% over the last 24 hours.
Ethereum (ETH): $2,667.05, up 1.6% over the last 24 hours.
Solana (SOL): $158.25, up 4.5% vs the previous day.
Trending Coins Update
Moo Deng: $0.2017, up 76.9% vs the previous day.
zkLink: $0.1691, up 69.5% over the last 24 hours.
Ice Open Network: $0.0087, down 2.1% vs the previous day.
For the daily price update, check out our post on Facebook.
Feature News: Solana Memecoin Moo Deng Surges, Makes Millionaire
An anonymous trader, known by the Solana wallet address “Db3P,” turned a 6 SOL ($800) investment into $3.5 million in Moo Deng, a meme coin inspired by a viral pygmy hippo in Thailand.
The trader bought Moo Deng four hours after its launch, sparking accusations on Twitter of insider trading or ties to the coin’s team, Decrypt and Arkham reported.
Here’s when Arkham covered the account when it turned that $800 to $400,000:
Moo Deng is currently trading at $0.2017, up 76.9% vs the previous day, with a market cap of $194 million.
The coin’s rise mirrors the viral fame of a two-month-old pygmy hippo named Moo Deng from Thailand’s Khao Kheow Open Zoo.
The coin has no inherent utility, leading to speculation that the market could collapse if Db3P cashes out.
(Read more: Can Meme Coin Investors Be Millionaires In Just 7 Days?)
Philippine Crypto News 🇵🇭
BitPinas article: YGG and Parallel TCG are hosting a $100,000 prize tournament at the YGG Play Summit in Manila from November 19-23, 2024
BitPinas article: House seeks to tax foreign crypto exchanges.
Coins.ph shared its new app features and user interface.
Paytaca announced it has onboarded a new merchant partner in HongKong—BFF Burger.
Noteworthy 🌟
Key updates and announcements from around the crypto and blockchain world:
Kraken acquired Dutch crypto broker Coin Meester BV to bolster its European expansion ahead of the Markets in Crypto-Assets Regulation.
Truflation, backed by Coinbase Ventures, was hacked for approximately $5 million, with the project reporting abnormal activity and a malware attack.
Crypto-friendly New York City Mayor Eric Adams has been indicted on federal corruption charges.
Educational Corner 🎓
Filipino-led! Check out Vana, an AI and blockchain platform.
The platform empowers individuals to control and monetize their personal data, promotes ethical data ownership and enhances the development of culturally aware AI technologies.
Regulation Watch 📜
Stay informed about the latest regulatory updates and what they mean for you:
Gemini’s Chris Tierno, stressed the importance of collaborating with regulators to enhance growth and attract institutional players in the crypto sector.
The Wallet in Telegram app is temporarily blocked for UK users as it restructures to become a registered crypto asset provider under FCA regulations.
Kamala Harris pledged the U.S. will lead in blockchain and emerging technologies, supporting innovation while protecting consumers in her economic plan.
Community Spotlight 🔦
Meet Art Abal: He is Filipino innovator and entrepreneur, known for his work in the field of blockchain and artificial intelligence (AI).
He is a co-founder of Vana, a startup dedicated to empowering individuals to manage their data using blockchain technology.
Abal, originally from Iligan, is a lawyer with Australian-Filipino heritage and studied innovation and public policy at Harvard.
More Web3 and AI News 💡
Discover the latest in web3 and AI innovation.
Citrea launched its public testnet on Bitcoin’s Testnet4, allowing EVM developers to create dApps using Bitcoin’s blockspace while preserving its self-sovereignty.
Centrifuge partnered with Chronicle to integrate RWA Oracle into its platform, enhancing financial transparency for the Anemoy Liquid Treasury Fund.
Web3 Gaming Section 🎮
The future of web3 is gaming, and here are the latest news.
An unidentified co-founder of Hamster Kombat has allegedly launched a new game called Hamster Cash, a hard fork aimed at addressing complaints about unfair airdrop allocations in the original game.
Elderglade launched a new AI-driven mobile game in the web3 space, allowing players to earn real-world rewards.
Ragnarok: Monster World soft launches, introducing a seasonal gameplay structure with Pre-Seasons for testing and Regular Seasons with competitive leaderboards.
Event Announcements 📅
Don’t Miss Out: Upcoming events, webinars, and meetups in the crypto space!
Paghilom Exhibit at Luzon Art Fair: October 3-6, 2024
Blockchain Campus Conference 2024: October 10, 2024
Future Forward: Tech Career Fest: October 10, 2024
Future Proof Tech Summit 2024: October 10-11, 2024
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