Author: NBTC

Today, enjoy the 0xResearch newsletter on Blockworks.co. Tomorrow, get the news delivered directly to your inbox. Subscribe to the 0xResearch newsletter. Something really weird has been going on at the intersection of crypto and AI involving the GOAT memecoin. Here’s a chronology of what’s played out: March 19, 2024: Andy Ayrey is the founder of the digital consultancy Constellate, and a self-described “trafficker of existential hope.” Ayrey launches the side project “Infinite Backrooms,” where he pits two Claude 3 Opus AI models conversing with one another about the nature of existence. Claude’s large language models by Anthropic are widely considered…

The CEO of CryptoQuant has highlighted significant changes in the buying pressure surrounding Bitcoin, suggesting a notable shift in market dynamics. He emphasized that the buy walls for Bitcoin across various exchanges are now robust enough to counter the previously prevailing sell walls, marking a critical development in market volatility and buying interest that fuels the current rally. Contents 1 What Factors Influence Bitcoin’s Price Stability? 2 How Do Macroeconomic Factors Impact Cryptocurrencies? What Factors Influence Bitcoin’s Price Stability? The CEO’s insights reveal that the balance between buy and sell walls has drastically evolved. An analysis of market data from…

OpenSea users are wondering about a possible token launch after a vague post on the company’s X account. Community opinion is divided on whether such a launch would help build interest or become a final rugpull. Trade volumes at the NFT marketplace have slowed to a crawl, and it might face an SEC legal battle. OpenSea Token Launch: Misguided or Fraudulent? Today, NFT marketplace OpenSea posted, “so… how long have you been using OpenSea?” on its official X account. Replies from the community immediately began speculating that this may lead to a token launch. The marketplace hit a 3-year low…

The Coinbase 50 Index, a key measure of the largest digital assets, has expanded. While Bitcoin and Ethereum still dominate the index, new additions include altcoins Axie Infinity (AXS), Blur (BLUR), JasmyCoin (JASMY), Kusama (KSM), and MultiversX (EGLD), that have joined the rally. This expansion highlights the growing interest in a wider range of assets, providing investors with more exposure to diverse crypto projects. The updated index reflects current market trends. Bitcoin and Ethereum Still Dominate According to Colin Wu, a Chinese reporter, Bitcoin (BTC) remains the highest-weighted asset in the Coinbase 50 Index, holding a 47.50% weight. Ethereum (ETH)…

The TON blockchain, which was once a top decentralized ecosystem, has recently witnessed a substantial dip in the daily active consumers. As per the data provided by IntoTheBlock, the daily active consumers of The Open Network have reached 1.58M with a sheer slump from the peak of 5M users, indicating volatility, particularly due to the major events and hype. The analytics platform disclosed this development on its official X account. The TON network currently has 1.58 million daily active users, down from its peak of over 5 millionThe chart below shows a history of sharp increases, driven by major events…

Bitcoin price started a fresh rally above the $64,500 resistance zone. BTC is now consolidating and might struggle to surpass the $66,400 resistance. Bitcoin is up over 5% and now faces hurdles near the $66,400 zone. The price is trading above $64,500 and the 100 hourly Simple moving average. There is a short-term bullish trend line forming with support at $65,400 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could rally further if there is a close above the $66,400 resistance zone. Bitcoin Price Surges Over 5% Bitcoin price formed a base and started…

A heavyweight from the once-hot NFT era is now getting into the cryptocurrency issuance game. Pudgy Penguins launched three years ago as a set of 8,888 NFTs depicting colorful and comical birds. Now, the team behind the project tells CoinDesk that they will release a token called PENGU this year on the Solana blockchain. Nearly a quarter — 23.5% — of the 88 billion PENGU tokens will be reserved for owners of the project’s NFT collections like Pudgy Penguins, Lil Pudgys, Pudgy Rods and more. A further 22.02% will be available to the Solana and Ethereum communities, while 12.32% are…

Robinhood Markets Inc (NASDAQ: HOOD) climbed to a multi-year high as Bitcoin soared past the closely watched $100,000 level on Thursday. The last time its shares traded above $40 was in late 2021. Investors are primarily responding to the monster rally in BTC this morning – but a massive year-to-date gain of about 250% in HOOD reflects their broader confidence in the company’s ability to expand and grow its profits at a fast clip. Bitcoin is delivering a significant boost to other crypto stocks like MicroStrategy and Coinbase as well on Thursday. Bitcoin could double to $200,000 next year Despite…

As the cryptocurrency market evolves, Ethereum (ETH) has continued to face growing challenges.Despite its leadership in decentralized finance (DeFi) and smart contracts, Ethereum has experienced several controversies, particularly around scalability and network upgrades. Consequently, these issues are starting to weigh on ETH’s appeal to investors, causing the pioneer smart-contract network to lose significant market share over the past two bull cycles As of October 2024, Bitcoin’s (BTC) market cap had surged to $1.35 trillion, with Ethereum lagging far behind at $317 billion, reflecting a widening $1.04 trillion gap between the two. Furthermore, Ethereum’s dominance has declined by 38% since November…

Bitcoin has recently begun to see a major recovery in its price, reclaiming the $66,000 mark earlier today. This sudden positivity in price performance has prompted debates on whether retail investors and newcomers have returned to the market. Although there has so far been speculation about increased retail participation, a detailed analysis reveals a more nuanced picture. A Closer Look At Retail Participation According to a CryptoQuant analyst, BinhDang, in a recent post on the CryptoQuant QuickTake platform, the trends among smaller retail groups show growth and stagnation in different areas, reflecting a complicated dynamic in the current market cycle.…