Paldo: Trader Turns ₱44K to ₱195M in Moo Deng Memecoin Bet | Key Points | Sept. 27, 2024
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.
Table of Contents
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
Stay Connected:
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- Join our Telegram group for real-time discussions!
We’d love to hear from you! Reply with your thoughts or questions.
This article is published on BitPinas: Paldo: Trader Turns ₱44K to ₱195M in Moo Deng Memecoin Bet | Key Points | Sept. 27, 2024
