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⌐◪-◪ → The Flappening is coming!

Pudgy Penguins NFTs have soared past $100K in anticipation of the upcoming PENGU token airdrop on Solana. Earlier this week, Pudgies flipped Bored Apes, solidifying their position as the second most valuable NFT collection after CryptoPunks. For context, here are the top NFT collections by market cap:

1. CryptoPunks → $1.6B

2. Pudgy Penguins → $931M

3. BAYC → $759M

4. Azuki → $364M

5. Autoglyphs → $261M

While Pudgies would need a 1.72x to flip Punks in market cap due to their smaller supply (8,888 vs. 10,000 Punks), they only need a 1.5x to flip Punks in terms of floor price (26.5 vs. 39.5 ETH respectively).

This could be a monumental moment for NFTs if Pudgies dethrone Punks, a feat briefly achieved by BAYC during the last bull run. The real question is can they sustain this momentum after the highly anticipated PENGU airdrop, or will that be when the bubble pops?

Regardless, shoutout to Luca Netz and the Pudgy Penguins team for crushing it and best of luck on the PENGU token launch! Which by the way, is already trading ~$4.5B FDV pre-market on Whales Market.

⌐◪-◪ → ETFs now hold 2.5% of Bitcoin.

Spot Bitcoin ETFs have surpassed 500,000 BTC in cumulative inflows, absorbing roughly 2.5% of Bitcoin’s circulating supply since January — continuing to solidify their position as the fastest-growing ETFs in history.

To put this in perspective, ETFs have been buying 4,500 BTC per day in recent weeks, compared to MicroStrategy’s 3,000 BTC daily purchases. Meanwhile, only 450 new BTC are mined daily, creating a massive supply-demand imbalance. The remaining Bitcoin is being transferred from weak hands to strong hands.

This institutional appetite for Bitcoin is unprecedented. With supply tightening and demand accelerating, what do you think happens next? Speculate with us at Specs.Chat.

⌐◪-◪ → BlackRock is a Bitcoin bull.

BlackRock, the world’s largest asset manager with $11.5 trillion in AUM, has set a Bitcoin allocation benchmark of 1-2% for diversified investment portfolios. This is their first public recommendation of a specific BTC allocation, likely due to increasing client demand.

According to BlackRock, a 1-2% allocation provides a similar risk profile to investing in the "Magnificent Seven" tech stocks within a standard 60/40 portfolio. Bitcoin is increasingly viewed as a viable diversification tool.

For context, if global portfolios allocated 2% to Bitcoin, it would represent up to $6 trillion in potential investment. The Bitcoin standard is becoming more tangible as institutional adoption accelerates.

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