Plus: Logan Paul’s lawsuit is still not over
GM. Welcome to The Daily Quack, where we believe in decentralization, cold wallets, and bread.
👋 One of the biggest NFT marketplaces shuts down.
🤪 Crypto people jokin’ around.
🦆 Feather flashes: Logan Paul’s lawsuit against Coffeezilla continues, the Trumps are getting into Bitcoin mining + more
🦆 Pond check
Bitcoin hasn’t been doing much recently. Case in point: this past day, it’s been trading in the $81K – $85K range (which is like 25% lower than its January all-time high).
Bitfinex analysts pointed out that right now, whenever people try to push the price up, it gets stuck near $89K – a level that used to be the floor back in December 2024, but now has flipped into a ceiling.
And while panic selling has cooled off, breaking through that level won’t be easy – liquidity’s still tight, so it’ll likely take a strong catalyst to move things higher.
What’s slowing it down? Pretty much the same stuff we’ve been talking about for weeks: the hype around a Trump pump has faded.
Instead, we’re dealing with tariff uncertainty and worries that the US economy might be heading into a recession.
So yeah, not very live, laugh, love.
But even with all that mess, the big ducks are still buying:
Michael Saylor’s Strategy bought 22,048 BTC for $1.92B, at an average price of $86,969 per Bitcoin;
Metaplanet (which is basically the Japanese version of Strategy) raised 2B yen (around $13.3M) to buy more BTC;
MARA, a Bitcoin mining company, plans to sell up to $2B in stock so they can buy Bitcoin “from time to time”.
And they’re not the only ones stocking up – we’ve got some whale action goin’ on as well.
CryptoQuant contributor Mignolet noted that these guys tend to buy when everyone else is panicking and thinking the rally’s over.
That’s what they did in 2020. And it looks like they’re doing it again now.
So yeah, Bitcoin might look half-asleep – but behind the scenes, it’s anything but 👀
🦆 Quackcoins
Someone tossed breadcrumbs into the memecoin pond, and these bad boys went full rage 🦆
Data as of 07:25 AM EST.
Check out these memecoins and plenty more here.
If you’re still one of the last NFT soldiers out there – first of all, damn, respect. Second… this one might sting a bit.
X2Y2, one of the biggest NFT marketplaces (just behind Blur and OpenSea), is officially shutting down after a three-year run.
The site’s front-end will go offline starting April 30. The smart contracts will still be there, so trades technically can still happen… but if you don’t know how to code your way through it, good luck.
The project’s founder TP basically said: we know this sucks – especially for anyone still holding their X2Y2 tokens 👇
Yeah… ouchies.
And while it might be tough… this decision totally makes sense.
NFT trading volume has dropped 90% since 2021. And marketplaces like this need a lot of active users to survive.
Despite trying to compete with the bigger platforms, X2Y2 just couldn’t keep up.
That said, the team isn’t disappearing – they’re just shifting focus.
They’re pivoting to a new project in the crypto + AI sphere, tryna build an AI-powered tool that helps people earn yield in a fully permissionless way.
No timeline for that yet, though.
And if you were hoping this was some kind of April Fools’ joke – sorry. It was announced yesterday, so it’s legit…
Now you’re in the know. But think about your friends – they probably have no idea. I wonder who could fix that… 😃🫵
Spread the word and be the hero you know you are!
The crypto industry already lowkey feels like a joke half the time, but still, who doesn’t love some extra tomfoolery and shenanigans on April 1??
I surely do. So here are some cheeky crypto April Fools’ stunts from over the years:
1/ David Hoffman becomes a Solana maxi
Bankless co-host and Ethereum maxi David Hoffman announced he was jumping ship to Solana last year – joining the Foundation alongside Austin Federa and Solana co-founder Anatoly Yakovenko.
His fake job title was VP of Decentralization – a lil’ dig at Solana, which has been criticized for being more centralized than Ethereum.
2/ BunkerCoin
Solana’s Anatoly Yakovenko announced BunkerCoin, a token that ran on shortwave radio, used zkProofs and the Nakamoto longest-chain rule… basically, any buzzword you can think of, this token had it.
Glorious mess.
3/ The WTF stablecoin
Vitalik Buterin once “launched” a new ETH-backed stablecoin called World Trade Francs – or WTF, for short.
It was gonna be an ICO, and you’d need to use lizardcoins to buy in.
4/ Peter Schiff finally got it
The gold guy and crypto’s #1 hater himself, Peter Schiff, tweeted bullishly about Bitcoin.
Of course it was a joke.
(But, at the end of the day, the joke’s actually on him…)
So yeah, these were fun – but at this point, they kinda blend in with everyday life.
Cuz reality finds its way to clown us all year round! 🥳
🦆 Feather flashes
🐘 Logan Paul’s lawsuit against Coffeezilla is still on after a judge refused to dismiss it. Paul says Coffeezilla lied about him scamming people with his CryptoZoo project.
🎣 Coinbase users might’ve been phished out of $46M in the past two weeks. Scammers tricked people into sending crypto to fake addresses that looked like the real ones.
⛏ Hut 8 partnered with Eric Trump and Donald Trump Jr.’s company, American Data Centers, to form American Bitcoin. Hut 8 contributed most of its mining equipment in exchange for an 80% stake in the new venture, while American Data Centers holds the remaining 20%.
🤖 OpenAI plans to drop a new open-weight AI language model soon. Sam Altman says it’ll have strong reasoning skills, but they’re asking for dev feedback first to make it as useful as possible.
👿 North Korean crypto hacks are getting smarter and more organized. There are at least five different groups behind them.
