Squid Game Token Goes Through the Roof 📈

The surge in Squid Game's price has caused some problems. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ [CoinMarketCap Earn]( Market Activity Total Market Cap $2.61T (+1.14%) 24 Hour Volume $145.642 (-18.16%) Notable Movers[(AXS) $141.30]( (+12.76%) Notable Movers (DeFi)[(BAT) $0.8255]( (+24.06%) Bitcoin Dominance 44.15%[(-0.50%)]( Bitcoin Price[(BTC) $61,086.16 +0.29%)]( Ethereum Price[(ETH) $4,334.38 (+4.84%)]( Cardano[(ADA) $2,00 (-0.09%)]( Why a CryptoPunk Didn’t Sell for $532 Million As you will read in our news recap below, a CryptoPunk did not sell for half a billion dollars yesterday. Rather, a DeFi [flash loan]( (when money is borrowed and paid back in the same transaction) "bought" this CryptoPunk for $532 million — but the money ended up back with the same sender, and the bid on the Punk was never technically accepted. In any other financial sector, this would probably fall under the category of wash trading — someone trying to send money around to and from themselves in order to artificially inflate volume. In this case, it’s likely (probably) a strange marketing ploy — the buyer is saying "look at me! I know how to do crazy DeFi loans and I also have a helluva lot of Ethereum! Buy my CryptoPunk!" The marketing idea is supported by the fact that this CryptoPunk is now [on sale]( for…$1 billion! (Or 250,000 ETH). Considering that the largest NFT sale to date was Beeple’s NFT collage for $69.3 million, I have my doubts over whether this female, wild white haired, black lipsticked CryptoPunk will find a buyer. SPONSORED AD Buy $100+ of Crypto, Get $50 of Bitcoin Trusted by millions of users across 200 countries. For a limited time, buy $100+ of crypto on your first purchase and get $50 of bitcoin. What are you waiting for? [Buy Crypto]( Trusted by millions of users across 200 countries. For a limited time, buy $100+ of crypto on your first purchase and get $50 of bitcoin. What are you waiting for? [Buy Crypto]( Today’s Top Stories 📰 Check out [CoinMarketCap Alexandria]( for tech deep dives, analysis, daily news and easy-to-understand guides on how crypto works! [Today’s Top Stories ]( ETH Touches New All-Time High! 💥 Ether touched all-time highs early on Friday amid a slew of bullish indicators. The world's second-largest cryptocurrency raced to $4,400 — a $34 improvement on the previous record set last week. It reflects a remarkable rebound for ETH, which started October at just $3,000. The surge, which means Ether is outperforming Bitcoin on a 24-hour timeframe, follows a successful upgrade to the Ethereum network. [Here's why the Altair upgrade matters.]( Squid Game Token Rallies 33,600% 👀 A play-to-earn token inspired by the hit Netflix show Squid Game has experienced a dizzying rise since launching earlier this week. SQUID was worth one cent on Tuesday — but in the space of three days, it has surged 33,600% to hit $3.37. The token will allow players to take part in six online games, all with the goal of winning prize money. But SQUID's surge may make the game's entry fees unaffordable… and some traders are having problems. [Find out why.]( Facebook's New Name Revealed 🚨 Facebook has a brand-new name. Last night, the company announced that it will now be known as Meta — reflecting plans to focus on virtual reality and the metaverse. The classic thumbs-up sign is gone too, and at its headquarters, you'll now find a blue infinity loop. Mark Zuckerberg stressed that the names of its apps and social networks — including Facebook, Instagram and WhatsApp — won't be changed. [What is the metaverse?]( Did a CryptoPunk REALLY Sell for $532M?! 😱 There was feverish excitement on Crypto Twitter when an alert suggested that a CryptoPunk had sold for a whopping $532 million. But delving into the blockchain records shows that not everything is as it seems. Larva Labs said someone bought the punk from themselves with borrowed money — repaying it in the same transaction. In other words, this was a flash loan — rather than a sign of a new buying frenzy targeting CryptoPunks. [Our story.]( Thanks for reading! Have a great day — more news tomorrow! 👋 [Read More]( [App Store]( [Google Play]( [Facebook]( [Twitter]( [Instagram]( [Telegram]( © 2021 CoinMarketCap [Update Settings]( | [Unsubscribe]( [coinmarketcap.com]( CoinMarketCap OpCo LLC, 8 The Green, STE 6703, Dover, Delaware 19901, United States