OVERVIEW

Whoever Has The Crypto VooDoo Doll, Quit Hitting It 🎎 

It was looking like a nice, green Friday until about 1:00 pm EST when Bitcoin started a path from $70,721 to $68,421 in one hour. 😭 

Now, take a look at Coinglass’s liquidations data:

As of 3:30 pm EST, over the past four hours, $318 million in long positions were liquidated across the various crypto derivatives exchanges, compared to only $18 million in short positions. We guess the inevitable crypto breakout will have to wait another week…

Nevertheless, in today’s Litepaper, we’re looking at DWF Labs’ support of Floki and Cardano’s Charles Hoskinson fighting back against FUD.

Also on deck: Kraken is prepping for an IPO to be the second publically traded crypto exchange, and lastly, there is a story about hamsters. 📰

Before we dive in, here’s today’s crypto market heatmap:

And here’s a look at crypto’s total and altcoin market cap YTD:

FLOKI
DWF Labs Goes Deep Into Floki With $12 Million 💸 

DWF Labs, the digital asset market-making powerhouse, is plowing into Floki with a $12 million commitment to purchase $FLOKI tokens. 🐶 

According to Floki’s blog, part of the buy comes straight from the market, and the rest from Floki's treasury, signaling their unwavering support for this meme coin that’s got to make $DOGE feel a little flaccid.

DWF Labs' Bold Bet on Floki's Future

This isn’t DWF Labs' first ride with Floki; they pledged $10 million to the project a few months back. The latest $12 million injection will stiffen Floki's standing in the crypto world.

The $12 million coincides with the launch of key products this year, including the mainnet version of the Valhalla metaverse game and the Floki Trading Bot. They’re definitely not playing around; it’s a full-on thrust to the top.

The roadmap also includes the .Floki Decentralized Domain Name and Website Service, among other utility products, are all part of their grand plan to spread and penetrate multiple markets all at once. 🔫 

Floki & DWF Labs Are More Like FWBs Than Just BFFs

Since announcing their partnership in May 2023, DWF Labs has been instrumental in Floki's journey. They’ve facilitated crucial exchange listings, brokered partnerships with industry heavyweights, and consistently supported Floki's progress.

Friends with benefits indeed. There is no doubt that either Floki or DWF Labs will be pulling out of each other’s mutually beneficial relationship. Floki’s reach is huge, and DWF Labs has its hands in all the right places. A perfect match. 👩‍❤️‍💋‍👨 

CARDANO
Cardano’s Hoskinson Handlin’ The Hate 🔨 

Charles Hoskinson is fed up with the media's endless doom-and-gloom about Cardano ($ADA). He's called out the media’s "pathetic" coverage and revealed Cardano's real progress. 👊 

The Hosk Throws Down Hard Hittin Hammers

Hoskinson lambasted the media for their dismal portrayal of the blockchain, dismissing their claims as out of touch with reality. According to Hoskinson, Cardano’s fundamentals are strong, and the ecosystem is thriving with rapid growth in community DApps.

Hoskinson believes Cardano's value is underappreciated, despite its robust fundamentals. "Never in my career have I seen such a profound disconnect between reality and opinion with the cryptocurrency influencer and media perception of Cardano versus its actual fundamentals," he vented. 🌍

The End Is Nigh - But Not The End You Think

Cardano is gearing up for its most significant upgrade yet—the Chang Hard Fork. Scheduled for Q2, the fork will roll out in two phases, starting with deploying governance features and setting the stage for decentralized voting and governance actions. The second phase will fully transition CIP (Cardano Improvement Protocol) 1694, unlocking on-chain governance's full potential. 🌐

Hoskinson's vision is clear: Cardano is here to stay, solving real-world issues. Critics can keep doubting, but Cardano will continue pushing the boundaries of blockchain technology. 🌍