Apparently, Pingu isn't the most loved Penguin 🙄

Good Morning with a crispy plate of jalebis,

and Welcome to Switch Daily! 🤗

The crypto market is finally moving on from its toxic ex. (aren’t we all?)

What’s on our plate today?

• Market pulse

• Someone bought a penguin for 400ETH

• Crisp crypto news

• Meme to go well with your morning chai

Market pulse 📈

The market is as flat your parathas 🥞

The broader crypto space looks flat for now, with a marginal 0.56% dip to its name. Even though the week has been a tad slow for the key crypto players, metaverse/ fan token Chiliz (CHZ) is looking strong with day-on-day gains of 12.42%— led by a 27% increase in trading volumes.

🐧Penguins sold for Lakhs, Pigeons next?

We heard someone bought a penguin for 400 ETH a.k.a ₹5,12,19,186.

What? GET OUT! 😬

Well, turns out it was not a real penguin and that rumor about high market demand for birds is not true…

So basically the profile photo (PFP) NFT collection, Pudgy Penguins experienced its highest sale in terms of ETH for the collection. This Monday, the rarest Pudgy Penguin — #6873 was sold on the secondary market on NFT marketplace, OpenSea for 400 ETH. Last year, the same NFT was bought for 225 WETH, when ETH was priced as high as around $3,500.

This penguin NFT project went through its fair share of action since its launch in 2021. The collection was released during the 2021 bull market when Ape-themed NFTs like BAYC were setting milestones.

During its initial days, Pudgy Penguins collection was widely accepted by the community and quickly sold out. Remember the 225 WETH sale we referred to earlier? These were the golden days (or white? Idk what penguins prefer?) for these birds when someone spent nearly $1 million on them.

Like Arjun Kapoor, Pudgy Penguins may have gotten a head start in the industry but some flops are just inevitable. Are’nt they?😅

Pudgy Penguins struggled to get community support because of its scammy founders.

But after the former founders were canceled because they were ew, Pudgy Penguins was sold to new leadership for nearly ₹20 crores this April, and we know its been doing pretty dope since.

What’s up, Buttercup? 🤓

🥳BTC transaction fee drops under $1

Amid the crypto winter, the world's most popular crypto still seems to enjoy the trust of investors. The average transaction fees on the Bitcoin blockchain fell below $1 for the first time in over two years. Read more.

🦹CryptoPunks floor price surpasses BAYC

“You are being a punk!” just became a compliment with the latest news of NFT collection, CryptoPunks’ floor price exceeding the dominant NFT project, BAYC floor price. Both are owned by yugalabs but BAYC had formerly maintained a superior streak for the longest time. Read more.

✉️Telegram founder moots new marketplace to sell usernames

Encrypted messaging app Telegram announced its plan to launch a marketplace that will utilize NFT-like smart contracts to auction popular usernames. Read more.

⚒️Top Ethereum mining pool to drop PoW

Ethermine, the world’s largest Ethereum mining pool, has decided to drop Ethereum Proof-of-Work (PoW) mining upon Ethereum’s transition to Proof-of-Stake (PoS) or the merge. Read more. 

Memewhile NFT artists…

Well, that's a wrap for today!

See you, tomorrow folks, 👋