$PENGU 🚨LATEST: Pudgy Penguins’ parent company shuts down its Abstract blockchain.
Abstract, the Ethereum Layer-2 launched by Pudgy Penguins parent company Igloo Inc., will shut down on December 15 after struggling to scale beyond consumer crypto.
The team says limited DeFi activity, thin liquidity, limited institutional adoption and a smaller budget made operating the chain unsustainable.
Users have until December 15 to bridge their assets off the network, with funds left behind becoming inaccessible.
BREAKING: The "AI Big 10" now accounts for a record 42% of US stock market cap.
This includes Magnificent 7 stocks as well as Broadcom, $AVGOB , AMD, $AMDB , and Micron, $MUB
This figure has more than doubled since the 2022 bear market low.
By comparison, during the 2000 Dot-Com Bubble, the Technology, Media & Telecom (TMT) sector peaked at 41%, while the Nifty Fifty peaked at 40% in the 1970s.
Furthermore, Japan’s equity market bubble in the 1980s peaked at 44%.
In the past, only railroad stocks have significantly exceeded this concentration, accounting for 63% of US market cap at their highest point in the 1900s.
IF YOU SOLD ZCASH ON THE BAD NEWS, REMEMBER THIS 👑
Four months ago, $ZEC suffered one of the worst pieces of news a crypto can get.
A critical bug was disclosed that could have allowed someone to create undetectable counterfeit ZEC inside its Orchard shielded pool. The market panicked, and Zcash crashed from around $630 to nearly $250.
Fast forward four months.
ZEC is now trading around $1,330. From roughly $250 to over $1,300 after what looked like catastrophic news.
Sometimes when the underlying thesis remains strong and the problem actually gets fixed, the worst headline becomes the biggest test of conviction.
Everyone remembers the crash. Look at what happened next.