Did the ENTIRE world just come back to memecoins…
And decide the PENGUIN was the thing they wanted to top blast!?
From 20mil to 90mil in under 24 hours.
I genuinely don’t understand WHY!?
What makes this penguin so special!?
It literally looks like it’s walking away to vanish forever!?

Twitter

Author | Jeff Park (Chief Information Officer, Bitwise)
Compiled by Odaily Odaily(@OdailyChina)
Translator | Dingdang (@XiaMiPP)
Editor's Note: On February 5th, the cryptocurrency market experienced another sharp drop, with over $2.6 billion liquidated in 24 hours. Bitcoin briefly plummeted to $60,000, but the market seems to lack a clear consensus on the causes of this decline. Jeff Park, CIO of Bitwise, offers a new analytical framework from the perspective of options and hedging mechanisms. [...]

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