ENS Selects Linea for Namechain Layer-2 Development
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GM. While the broader crypto market corrected 5-10% over the last day, Ripple’s XRP, Crypto.com’s CRO, and Bitget’s BGN tokens managed gains of 5%, 8%, and 10%, respectively.
The biggest standout, however, is Pudgy Penguins’ PENGU token, which debuted with a staggering $2 billion market cap. Meanwhile, ENS dipped despite announcing its integration with Linea.
Here’s the breakdown of these and other top stories. 👇
ENS Selects Linea for Namechain Layer-2 Development
ENS Labs, the team behind Ethereum Name Service (ENS), announced a partnership with the Linea Association to build Namechain, a Layer 2 solution powered by Linea’s zero-knowledge rollup (zkEVM).
Linea’s zkEVM was chosen over other Layer-2 options for its fast finality, low latency, and scalability, key to ENS’s need for quick, cost-effective updates to its “Web3 phone book.” Unlike optimistic rollups, which rely on a seven-day dispute period, zkEVMs provide near-instant cryptographic proofs while maintaining Ethereum compatibility.
With over 2.5 million ENS names registered onchain, Namechain will reduce costs and enhance performance as ENS scales to meet growing adoption. Launch is set for late 2025.
Pudgy Penguins Launches PENGU Token on Solana
Pudgy Penguins has launched its PENGU token on the Solana blockchain, with claims open for 88 days before unclaimed tokens are burned. The total supply of PENGU is set at 88,888,888,888. Holders of Pudgy Penguins, Lil Pudgys, Rogs, and soulbound tokens (SBTs) are eligible to claim tokens starting Dec. 17.
The claims process requires users to connect both Solana and Ethereum wallets, ensuring seamless cross-chain integration. Trading on major exchanges, including Binance, Bybit, and OKX, will soon follow. Pudgy Toys owners, whose physical products include claimable tokens, will gain access once Igloo’s Abstract Chain Layer 2 goes live.
French MP Calls for BTC Strategic Reserve, Rejects Digital Euro
Sarah Knafo, a French Member of Parliament has proposed establishing a Bitcoin strategic reserve for Europe to hedge against inflation and poor fiscal decisions. During remarks in Brussels, she criticized the European Central Bank’s (ECB) digital euro initiative, warning of a “dystopian” scenario where governments control transactions and penalize citizens for controversial views.
Knafo echoed US President-elect Donald Trump’s similar proposal for a Bitcoin reserve and stressed that Europe should “bet on freedom.” While her political party holds limited influence in the European Parliament, the speech reflects increasing global interest in state-backed Bitcoin treasury amid shifting regulatory attitudes.
Tether Invests in StablR to Drive Stablecoin Adoption in Europe
Tether has announced an investment in StablR, a European stablecoin provider, as part of its tactical expansion into the region ahead of the EU’s Markets in Crypto-Assets (MiCA) regulations coming into effect. StablR offers fully MiCAR-compliant EURR and USDR stablecoins, backed by full reserves and issued on Ethereum and Solana chains.
By integrating with Tether’s Hadron platform, which allows for real world asset tokenization, StablR seeks to raise liquidity and expand its offerings across major blockchains. Tether CEO Paolo Ardoino highlighted the investment as a commitment to fostering a compliant, transparent, and interoperable stablecoins in Europe.
Data of the Day
Ethereum whale wallet holdings have hit an all-time high, with 104 wallets holding more than 100,000 ETH each, collectively representing 57% of the total Ether supply, according to on-chain analytics platform Santiment. These wallets account for approximately $333 billion in ETH value.
Meanwhile, smaller wallets holding less than 100 ETH have dropped to a near four-year low of 9.19%. Analysts interpret this as a bullish long-term indicator, provided whales continue accumulating. Ethereum’s price recently reclaimed the $4,000 level and is expected by to surpass its ATH in early 2025.
More Breaking News
- Trump met with Crypto.com CEO Kris Marszalek to discuss policies impacting crypto, the same day Crypto.com dropped its SEC lawsuit.
- Monad Foundation was launched to support the development and adoption of the EVM-compatible Monad Layer 1 blockchain ahead of its mainnet launch.
- Stablecoin platform BVNK raised $50 million in Series B funding, led by Haun Ventures, to expand operations in the US.
- The SEC issued a Wells Notice to NFT crypto gaming project CyberKongz, signaling potential enforcement action for alleged securities violations.
- The US Treasury shut down a North Korean crypto money laundering network, while Nigeria’s EFCC arrested 792 people in a crypto romance scam hub.
- ZachXBT revealed that $5.4 million in crypto was stolen from over 40 victims in a hack linked to the 2022 LastPass security breach.
- The SEC approved Exodus Movement to list on NYSE American, allowing the Bitcoin crypto wallet company to begin trading under its existing ticker on Dec. 18.
For the latest updates on digital asset markets, follow us on X @Datawalletcom.
Written by
Jed Barker
Editor-in-Chief
Jed, a digital asset analyst since 2015, founded Datawallet to simplify crypto and decentralized finance. His background includes research roles in leading publications and a venture firm, reflecting his commitment to making complex financial concepts accessible.
