Meebits NFT IP Sold as New Owner Unveils Rewards and Sparks Market Surge

'Ahead of Their Time': Meebits Ethereum NFT IP Sold as New Owner Reveals Bits Rewards

Yuga Labs, the creator of the Bored Ape Yacht Club, has sold the Meebits intellectual property (IP) to The Meebit Company (MeebCo), a new firm supported by crypto venture fund 1confirmation. Meebits, originally launched by Larva Labs in 2021, are tokenized metaverse avatars. The new owner, led by CEO Sergio “Sergito” Silva, plans to oversee the development of the 20,000 Ethereum NFT avatars and has introduced a rewards system called Bits to encourage community participation. According to Decrypt, Yuga Labs will retain a stake in MeebCo, though the terms of the deal remain undisclosed. Meebits, which initially sold for $8,750 worth of ETH in 2021, now trade for under $2,000 following a 69% price spike after the acquisition announcement.

Ethereum Developers Lock April 8 for Pectra Mainnet Upgrade

Ethereum developers have finalized the timeline for the Pectra mainnet upgrade, targeting April 8, 2025, following successful test runs on the Holesky and Sepolia testnets. The upgrade introduces eleven Ethereum Improvement Proposals (EIPs) aimed at enhancing user experience, validator operations, and data availability. According to TronWeekly, the upgrade will also transform traditional wallets into smart accounts, improving security and transaction efficiency. Developers are preparing for the deployment of Pectra contracts and ensuring compatibility across testnets, with discussions ongoing about future upgrades like Fusaka and Glamsterdam.

Millennium Management Discloses $2.6B Bitcoin ETF and $182M Ethereum ETF Holdings

Hedge fund giant Millennium Management has revealed holdings of $2.6 billion in Bitcoin ETFs and $182.1 million in Ethereum ETFs, as per its latest SEC filing. The firm’s largest Bitcoin ETF position is with BlackRock’s IBIT, valued at over $844 million, followed by Fidelity’s fund at $806 million. Crypto Briefing reports that this disclosure highlights a growing trend of institutional investment in digital assets, with other entities like Abu Dhabi’s sovereign wealth fund and Goldman Sachs also increasing their Bitcoin ETF holdings.

Ethereum Gears Up for Pectra Upgrade Amid Market Optimism

Ethereum’s Pectra upgrade is set to bring transformative changes, including smart accounts and improved validator protocols. CoinTrust reports that the upgrade has fueled market optimism, with Ethereum’s price rising 3% to $2,817. Validators have increased the gas limit to 36 million to reduce transaction costs, though daily transaction volumes remain at 1.34 million. Analysts predict Ethereum could reach $4,000 by June 2025, with the upgrade expected to enhance scalability and security.

SafeMoon to Launch Memecoin on Solana After Burning Most of SFM Supply

SafeMoon, acquired by VGX after its 2023 bankruptcy, plans to launch a new memecoin on Solana on February 15, 2025. CoinDesk reports that the team has burned 2.2 trillion SFM tokens across Ethereum, Polygon, and Binance Smart Chain networks. SFM holders will be able to swap their tokens for the new memecoin, with hopes of increasing liquidity and exchange listings. SafeMoon, once valued at $17 billion, now has a market cap of $41 million following fraud allegations against its former executives.

TRUMP Solana Meme Coin Spikes 40% as XRP and Dogecoin Jump

President Donald Trump’s official Solana meme coin, TRUMP, surged 40% in the last 24 hours, reaching $23, according to Decrypt. The token’s trading volume spiked to $5.5 billion, making it the biggest gainer among the top 100 cryptocurrencies. Other coins like XRP and Dogecoin also saw significant increases, with XRP rising 13% to $2.79 and Dogecoin climbing 8% to $0.28. Bitcoin and Ethereum also posted modest gains, trading at $98,440 and $2,759, respectively.

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