GeckoPulse: Another Day Another Gold Season

Tokenized Metals Heat Up Once More!

While the overall crypto sector might be looking a little tepid, gold and other metals are making another run. 

Bitcoin is currently in its ‘digital gold’ phase, remaining steady throughout the $88K to $89K range in the past week, and is currently on the uptrend since last weekend.

ETH is still hovering around the $3K range, trading just above $3,030 as of the time of writing.

On the other hand, precious metals are trending once again, with tokenized versions seeing an increase in trading activity.

In line with its underlying asset, PAXG has risen by 1.6% from $4,350 to $4,425 earlier today, with daily trading volume nearly tripling from $43M to $122M.

KAG, which is backed by 1 troy ounce of silver, is up 7.8% in the past 7 days, reaching an all time high of $69.60 earlier today.

Over on the RWA perp DEX Ostium, open interest on commodities has increased by 17.9% from $97.1M to $114.5M since the start of December.

Now Part of the Family

The Museum of Modern Art (MoMA) in New York has received 8 CryptoPunks and 8 Chromie Squiggles as part of its permanent collection.

The CryptoPunks NFTs were not purchased but donated by several notable contributors and collectors, including Cozomo, Nick Tomaino, and Larva Labs.

The Squiggles NFTs were also provided by several key donors, such as SquiggleDAO and ‘gmoney’.

All of the donated pieces can be found on the MoMA website.

In the past week, the floor price of CryptoPunks has fallen by 17.4% from 29.8 ETH (~$92,450) to 27 ETH (~$76,360).

In Other News

Cynthia Lummis’s Final Term. US Senator Cynthia Lummis, a long time crypto advocate has announced that she will not seek reelection when her term expires next year.

$50M Poisoning. An anonymous whale has just lost $50M to an address poisoning attack. The attacker mimicked the victim’s $50 test transaction using a similar looking address, which caused the victim to unknowingly send $50M to the attacker’s address. Users should avoid obtaining your own transaction addresses from transaction histories to avoid this scam tactic.

“UNIfication” Close to Completion. Uniswap’s fee switch proposal is close to completion, with 99% in favor. The approval will see a portion of trading fees to burn UNI tokens, and would address the long debate on returning value to UNI holders.

Lighter Airdrop Incoming?! Lighter, a popular perp DEX, has opened an airdrop form on their platform, allowing users to register their addresses by December 26. The announcement suggests the incoming launch of Lighter’s token, which also recently went live for pre-trading on Hyperliquid.