Pudgy Penguins Announces Launch of PENGU Token on Solana

Daily Top Performer — Sushiswap (SUSHI)

The S&P 500 rose 0.96% last week, marking three weeks of gains, as investors await inflation data. Despite strong job growth in November, expectations for a Fed rate cut remain steady, with tech stocks like Tesla and Meta leading market gains. Coindesk Indices, an index measuring broader cryptocurrency market performance was down by 1.22%, with Bitcoin and Ether dropping by 1.99% and 1.54%, respectively in the past 24 hours.

Today's top performer is SUSHI, which surged 29.6% after the announcement of its 2025 plans to expand the ecosystem with new products and partnerships.

Sushiswap (SUSHI), launched in August 2020, is a decentralized finance protocol on Ethereum, enabling users to trade cryptocurrencies via liquidity pools without a central authority. It operates like Uniswap and Balancer, with its native cryptocurrency, SUSHI, allowing holders to propose and vote on platform changes. Sushi's 2025 plans include launching Wara (Solana trading), Susa (N1 perps DEX), Kubo (delta-neutral perps), and Blade (LVR AMM). With governance reforms and expanded partnerships for the SushiSwap Aggregator, Sushi aims to grow beyond EVM ecosystems and lead in DeFi innovation.

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Talk of the Town

Pudgy Penguins announced the launch of its token PENGU, with a total supply of 88,888,888,888 tokens, set to debut on Solana. They warned users to avoid fake websites and tokens, emphasizing that all official information will be shared through their official channels. The launch of PENGU marks a significant step in Pudgy Penguins' ongoing role in driving crypto adoption.

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Bitcoin Spot ETF Flows

Between 02 and 06 December 2024, BTC Spot ETFs recorded a total net inflow of $2.73B, driven by $3.03B in non-GBTC inflows, while GBTC faced outflows of $303.5M. This continues the trend seen in cumulative data, where GBTC has outflows of $20.82B, contrasted with non-GBTC inflows of $54.23B, resulting in a total net inflow of $33.41B.

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Airdrop to Watch

Earn up to 30 Zircons by retweeting (20 Zircons) and liking (10 Zircons) Chainbase's AVS Mainnet Launch. Tasks are available until 13th December, with an airdrop expected within three weeks of the Q4 2024 mainnet launch. Complete tasks here.