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Lookonchain's data shows that a trader turned $113K into $3.4M by trading $DEGEN. The trader bridged 38 $ETH ($113K) to #Base on Feb 22 and spent 31.6 $ETH ($108K) to buy 85.36M $DEGEN on Mar 2. They sold 72.73M $DEGEN for 2.83M $USDC 15 hours ago, with 12.6M $DEGEN (worth $600K) remaining in their possession.

Lookonchain's data shows that a trader turned $113K into $3.4M by trading $DEGEN. The trader bridged 38 $ETH ($113K) to #Base on Feb 22 and spent 31.6 $ETH ($108K) to buy 85.36M $DEGEN on Mar 2. They sold 72.73M $DEGEN for 2.83M $USDC 15 hours ago, with 12.6M $DEGEN (worth $600K) remaining in their possession.

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Saudi Arabia's decision to end its long-standing petrodollar agreement with the United States marks a major shift in global financial dynamics. For over 50 years, the petrodollar system required oil to be sold exclusively in USD, but now Saudi Arabia is looking to diversify payment methods, including cryptocurrencies and other major currencies like the Euro, Yen, and Yuan. This strategic economic move aligns with Saudi Arabia's goal to reduce reliance on the US dollar. As part of Project mBridge, a China-led initiative exploring cross-border central bank digital currencies (CBDCs), Saudi Arabia is demonstrating its commitment to using digital currencies in international trade. This could accelerate the global trend of "de-dollarization" and impact the US dollar's dominance. Bitcoin and other cryptocurrencies stand to gain from this shift. Bitcoin's decentralized nature and limited supply make it appealing amid rising inflation and currency devaluation. Crypto experts suggest that the end of the petrodollar deal could lead to increased USD printing, spurring inflation and making Bitcoin a more attractive investment. The end of the US-Saudi petrodollar agreement, established in 1972, signifies a major change in economic norms. This shift towards multi-currency transactions could have broad implications for global financial markets. The Bank for International Settlements (BIS) has confirmed Saudi Arabia's active participation in Project mBridge and its efforts to diversify its economic partnerships
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