Pudgy Penguins shut down rumors of an OpenSea buyout, calling the speculation unnecessary and pointing instead to growing brand partnerships.

Pudgy Penguins denies OpenSea acquisition rumors, focuses on partnerships

The overall crypto market shows signs of cooling, but several altcoins 
continue to rally. URANUS is in the lead with a notable 175% increase.

URANUS jumps 175%, NILA spikes double digits while market rally slows down

Sygnum’s Fabian Dori says the GENIUS Act brings the U.S. closer to global 
consensus on stablecoin regulation, paving the way for real-world use cases.

GENIUS Act to spark wave of ‘killer apps’ and new payment services: Sygnum

Ethereum is entering a powerful new chapter in its market cycle. After months 
of prolonged selling pressure and underperformance, ETH has staged a 
remarkable comeback, rallying over 175% since late April. This surge marks a 
turning point for the second-largest cryptocurrency, as it regains momentum 
and investor attention. Related Reading: $4B Increase In Bitcoin Open Interest 
Fueled By Whale Transfers To Exchanges – Details According to data from 
CryptoQuant, Ethereum Open Interest on CME Futures has now reached an all-time 
high—signaling heightened institutional activity and growing market 
engagement. This sharp increase in derivatives exposure often precedes further 
volatility, hinting that traders are positioning for larger moves ahead. While 
the overall trend remains bullish, with on-chain and derivatives data pointing 
toward continued strength, some analysts warn that the market may be 
approaching overbought conditions. Speculation is growing around a potential 
correction or spike in volatility as Ethereum approaches key psychological 
resistance zones. Still, with ETH reclaiming leadership over Bitcoin in recent 
weeks and altcoins beginning to move in tandem, many view this renewed 
momentum as the start of a broader altcoin cycle. Ethereum Leads The Way 
Ethereum is gaining significant momentum, both technically and fundamentally. 
According to crypto analyst Maartunn, ETH Open Interest on CME Futures has 
reached an all-time high of $7.85 billion. This spike in interest coincides 
with a pivotal moment for crypto regulation in the US. The recent passage of 
the GENIUS Act and the Clarity for Payment Stablecoins Act by Congress marks a 
turning point in legal clarity for digital assets. These legislative wins 
create a friendlier environment for Ethereum-based applications, particularly 
in DeFi, where many protocols had previously operated in legal uncertainty. 
With a more defined regulatory path, Ethereum stands to benefit as developers 
and capital increasingly move onshore. At the same time, Ethereum has shown 
notable strength against Bitcoin. ETH/BTC has been trending higher over the 
past few weeks, reinforcing the perception that ETH could lead the next leg of 
the market cycle. This shift is important—especially as investors rotate from 
Bitcoin into altcoins. Related Reading: Ethereum Whales Accumulate Over $4.1B 
In ETH In Two Weeks – Details Price Action Details Ethereum continues its 
bullish trend, currently trading near $3,753 after a breakout rally that began 
in late April. The 3-day chart reveals a significant price expansion above the 
key resistance level at $2,852, now acting as support. ETH is consolidating 
just below the $3,860 resistance, which marks the final barrier before the 
psychological $4,000 level—last tested in late 2021 and again in late 2023. 
All major moving averages—the 50, 100, and 200—are now trending upward and 
stacked in a bullish configuration. Price action is well above these levels, 
indicating strong market momentum. Volume has also surged during the rally, 
suggesting real conviction behind this move rather than speculative noise. 
Related Reading: TRON Drops Q2 Report: Revenue, USDT Dominance Lead Multi- 
Quarter Highs Despite the strength, ETH appears temporarily overextended and 
could enter a short-term consolidation phase. A retrace toward $3,500 or even 
a retest of the $2,850 zone would still be considered healthy in the context 
of a broader uptrend. That said, as long as ETH holds above $2,850, the 
bullish structure remains intact. Featured image from Dall-E, chart from 
TradingView

Ethereum CME Futures Open Interest Hits Record $7.85B – Is ETH Overheating?

Pudgy Penguins has denied rumors about buying OpenSea, and redirecting 
attention to the project&#8217;s major partnership strategy.

No OpenSea deal—Pudgy Penguins says it’s all about partnerships

Confusing NFTs with memecoins could have serious consequences for the national 
and cross-border tax implications of such digital asset investments.