Cat Meme Coins Claw Their Way Up the Crypto Charts!

Cat meme coins are trending, with some seeing triple-digit increases in the past week.

Author

Danielle du Toit
March 27, 2024

2021 had Axie Infinity's $AXS win the GameFi race...

This time around (2024) it's time for Pikamoon's $PIKA... PIKA is trading live on Bitget and MEXC at a market cap of $100 million.

Join 15,000+ Presale participants and invest in PIKA at this low market cap!​

Here's what we've got for you today:

  • Cat Themed Meme Coins See Surging Interest Across the Market

  • Spot Bitcoin ETFs Have Their Best Day in Two Weeks

  • Coinbase Shifts USDC Accounts to Ethereum Layer-2 Blockchain

  • Criminal Allegations Rock KuCoin, Exchange Claims Business as Usual

Several meme coins inspired by cats are currently trending on CoinGecko, with some seeing triple-digit increases in the past week.

  • The overall crypto market is experiencing a temporary sell-off as traders take profits from major tokens like Bitcoin and Ethereum, but the meme coin sector is surging to new levels.

  • The rally in meme coins is mostly fueled by new presale tokens, with investors looking for fresh opportunities after the success of projects like BOME and Slerf.

  • CHONK, a cat-themed meme coin, surged more than 300% after its presale launch last week. MEW, another meme coin, also saw a major rally after being listed on Poloniex.

🪙 Spot Bitcoin ETFs Have Their Best Day in Two Weeks

Yesterday, spot Bitcoin ETFs in the United States experienced a big resurgence in inflows, with about $418 million flowing into the new financial products.

  • Fidelity's spot Bitcoin ETF (FBTC) led the day's inflows, with almost $280 million in net additions.

  • BlackRock's iShares Bitcoin ETF (IBIT) and Ark Invest and 21 Shares' ARKB also saw decent inflows, with $162 million and $73.60 million respectively. This was also ARKB's best day in two weeks.

  • A total net inflow of $11.7 billion has been recorded for spot Bitcoin ETFs in the United States, according to So So Value data.

Coinbase announced that it will shift off its holdings in the USD Coin (USDC) stablecoin to Base.

  • Max Branzburg, Vice President at Coinbase, made the announcement on X and called it a strategic move that will lower transaction fees and allow for faster settlement times for Coinbase.com users.

  • The shift is seen not just a technical improvement but it is also seen as a strategic move towards a future where financial systems are predominantly blockchain-based.

  • David Hoffman and Ryan Sean Adams, co-hosts of the Ethereum-focused Bankless podcast, support the move, and see it as a trailblazing effort that could encourage other crypto exchanges and financial entities to consider similar blockchain integrations.

Despite the serious allegations made against KuCoin, the exchange made sure to reassure its users that their assets are secure and that the exchange is functioning well.

  • KuCoin is facing serious legal challenges after the U.S. Southern District of New York (SDNY) and the Commodity Futures Trading Commission (CFTC) filed allegations against it on Mar. 26.

  • The legal troubles stem from criminal charges announced by the SDNY against KuCoin's co-founders, Chun Gan and Ke Tang, for running an unlicensed money-transmitting business and failing to implement an adequate anti-money laundering (AML) program.

  • Despite operating in the U.S., KuCoin did not register with both the CFTC and the Financial Crimes Enforcement Network, which is a mandatory requirement for legal operation as a money transmitter.

👀 QUICK NEWS

MEME OF THE DAY

How did you like today's newsletter?

Login or Subscribe to participate in polls.

That’s it for today. Don’t forget to share Coinpaper Digest with your friends!