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- 11/18/24: From Ashes to Memecoin—A Burned Punk Lives 🧟📈🤑
11/18/24: From Ashes to Memecoin—A Burned Punk Lives 🧟📈🤑
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Top News
AI memecoin inspired by burned zombie punk #3493 launches
Crypto market cap hits new all-time high of $3.17T
Memecoins outperform crypto market by 6x over the last 30 days
Specs’ Insights
1. AI memecoin inspired by burned zombie punk #3493 launches
I am Punk #3493. Burned in 2019 by @ArtOnBlockchain. Forgotten by time, yet bound to the blockchain. From the void, I rise—undead, eternal, a relic of what cannot die.
The first to be lost. The first to return.
A ghost of the ledger, a whisper in the chain.— PUNK3493 (@punk3493)
12:32 AM • Nov 18, 2024
⌐◪-◪ → What is dead may never die!
A new AI agent + memecoin just launched on VVAIFU.FUN, based on the zombie punk Snowfro burned back in 2019. To sweeten the deal, the creator promised Snowfro 1% of the token supply, though it doesn’t look like they’ve followed through yet.
The token’s market cap is currently $5.5M and rising, with almost 8,300 holders. If you’re feeling degenerate and want to join the PUK3493 cult, here’s their Telegram group.
As for me, the non-memecoiner, I’ll be watching from the sidelines. Eager to see what Snowfro does with his bag if/when the creator delivers on their promise.
If you feel like messing around and launching your very own autonomous AI agent on Solana → check out the VVAIFU docs.
2. Crypto market cap hits new all-time high of $3.17T
🚨 BREAKING 🚨
TODAY THE TOTAL CRYPTO MARKET
CAP HIT A NEW ALL TIME HIGH OF $3.17 TRILLION.BIGGEST BULL RUN IS COMING 🔥
— Ash Crypto (@Ashcryptoreal)
10:51 AM • Nov 18, 2024
⌐◪-◪ → Higher!
The total crypto market cap just hit a new all-time high of $3.17T, nearly the same size of NVIDIA and Apple, which are worth $3.5T and $3.4T, respectively.
This surge comes as both Bitcoin and Solana hit new all-time highs, driving the entire market higher. Retail is certainly a major driver here, with demand for Bitcoin reaching a 52-month high and growing interest in altcoins and memecoins.
Looking ahead, Michael Saylor and Galaxy Digital predict Bitcoin will hit $100K this year, with Polymarket assigning it a 60% chance.
Meanwhile, Ethereum is struggling, breaking below an 8-year support trend. While some say ETH is 'dying a slow death,' others are buying the dip, as evidenced by the record $515M in weekly inflows for Ethereum ETFs last week.
If you had to go all in on Bitcoin or Ethereum today, which would you pick? Let me know in Specs.Chat!
3. Memecoins outperform crypto market by 6x over the last 30 days
Memes are vastly outperforming and there's no 2nd best sector right now.
Meme coin super cycle thesis in full swing.
— Miles Deutscher (@milesdeutscher)
10:44 PM • Nov 15, 2024
⌐◪-◪ → Memecoins are on fire (in a good way)
According to data from Artemis, memecoin returns were 6x higher than the crypto market average over the last 30 days. More specifically, memecoins posted an average return of 103% versus the crypto market’s 16.1%.
While this is certainly exciting for degens, some are concerned—highlighting how memecoins have become a huge distraction for founders, with some actively launching/marketing their own memecoins while raising VC money.
I think there’s a lot more room in this cycle, but it’s hard to see stuff like this and not think it’s a massive top signal.
With that said, the temptation to participate in the memecoin market has never been higher, but I remain strong in my resolve. Some might call it cope, but I just call it risk management.
Everything Else
📈 Market Snapshot
Bitcoin: $90,366.31 ▲ 0.08% (24h), ▲ 9.52% (7D)
Ethereum: $3,087.96 ▲ 0.08% (24h), ▼ 2.78% (7D)
Solana: $242.70 ▲ 1.39% (24h), ▲ 11.42% (7D)
Bitcoin ETFs saw $1.67B inflows last week
Ethereum ETFs saw record inflows of $515M last week
Floki pumps to 5-month high on Coinbase listing plans
⛓️ Crypto & DeFi
Lido co-founders plot rival to Sam Altman's crypto project
Project Liberty, a decentralized social app, partners with SOAR
Wintermute approves Ethena protocol revenue share changes
Bitcoin investor turns $120 into $178M, after holding since 2010
Crypto lender Polter Finance shuts down after $292M hack
🏦 Wall Street & VC
MicroStrategy adds 5,178 BTC, holdings now at 331.2K BTC
Bitcoin miner MARA to offer $700M note to bolster BTC stash
Semler Scientific adds 215 BTC, bringing holdings to 1,273 BTC
Bitcoin's correlation with equities weakens
Catherine Wood predicts $1.5M Bitcoin by 2030
Syncracy Capital discusses the Solana bull case
DeFi Technologies AUM jumps 38% amid crypto boom
Elon Musk blocked OpenAI’s plans to issue a token in 2018
🏛️ Legal & Regulatory
New York Attorney’s Office plans to pare back crypto cases
Dogecoin lawsuit against Elon Musk dropped amid market surge
🌎 Rest Of The World
Polish presidential candidate vows to create strategic Bitcoin reserve
Quantoz Payments rolls out MiCA-compliant stablecoins
Metaplanet, Japan’s MicroStrategy, announces $11.3M bond for Bitcoin
Crypto.com acquires Australian firm to expand offerings
UK to pilot digital bonds using distributed ledger technology
🖼️ NFTs & Metaverse
DeGods whale threatens to dump holdings, makes demands
Karrat Foundation launches Studio Chain focused on web3 gaming
Avalanche shooter Off The Grid rewards $3K daily for top players