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Crypto Bulls Charge: Bitcoin & Ether Hold Strong as Ethena Tops $11.9B TVL and Pudgy Penguins Rev Up for F1

Crypto Bulls Charge: Bitcoin & Ether Hold Strong as Ethena Tops $11.9B TVL and Pudgy Penguins Rev Up for F1

Author:
Coindesk
Published:
2025-08-12 10:23:10
19
2

Markets Today: Bitcoin, Ether Hold Gains as Ethena Hits $11.9B TVL, Pudgy Penguins Race to F1

Crypto markets flex resilience as Bitcoin and Ether lock in gains—no surprise for assets that treat volatility like a rodeo. Meanwhile, Ethena’s vaults swell to a jaw-dropping $11.9B in TVL, proving yield farmers still have a higher risk tolerance than your average Wall Street degenerate.

Pudgy Penguins, the NFT mascots we didn’t know we needed, are now gunning for Formula 1. Because nothing screams 'institutional adoption' like cartoon avatars overtaking Monaco—while traditional finance still debates whether ETFs are 'too risky.'

Closing thought: If crypto’s wildest projects keep outpacing legacy finance’s innovation, maybe banks should start hiring meme artists instead of quants.

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