Category: Crypto

TL;DR ChatGPT highlighted two cryptocurrencies as top meme coins that could perform well if Bitcoin reaches $100K, due to their strong community support and historical performance. Lesser-known memes like MAGA (TRUMP), Jeo Boden (BODEN), and Kamala Horris (KAMA) could also see gains, additionally influenced by the upcoming US Presidential elections. ChatGPT Picks These Memes Meme coins have been crypto’s rock stars during the latest bull cycle, with Shiba Inu (SHIB), Dogecoin (DOGE), and multiple Solana-based tokens recording substantial gains over the past several months. However, their progress has stalled recently…

United States President Joe Biden’s controversial veto to block Staff Accounting Bulletin 121 could be voted on by the House of Representatives next week. SAB 121 — a proposed rule mandating that SEC-reporting entities custodying cryptocurrencies to record those holdings on their balance sheets — is currently on the House’s “legislation that may be considered” list, according to a weekly schedule posted by House Majority Leader Steve Scalise. Voting to overturn or uphold presidential vetoes is a constitutional obligation for the House, so it must vote again. The votes could…

On July 5th, Bitcoin fell below $54,000, experiencing a decline of over 6% in the past 24 hours due to increasing bearish pressure. The market downturn intensified after Mt. Gox, an early cryptocurrency exchange that went bankrupt over a decade ago, started to repay its customers following a lengthy bankruptcy process. The latest downturn has rendered several Bitcoin mining machines unprofitable. According to the latest data from f2pool, only six mining machines remain profitable when Bitcoin’s price drops below $56,000. These machines include the Antminer models S21 Hyd, S21, A1466I,…

The partnership between Apple and OpenAI is off to a rocky start as ChatGPT users on macOS recently learned their conversations were being stored in plain-text files.  Apple has positioned itself as a company that prioritizes privacy in a market where many of its competitors reap a lion’s share of their profits by selling or repurposing user data. But, as demonstrated by data and electronics engineer Pedro José Pereira Vieito in a post on Meta’s Threads, somebody dropped the ball when it came to OpenAI’s third-party integration of ChatGPT on…

This week, we take a closer look at Ethereum, Ripple, Cardano, Dogecoin, and Polkadot. Ethereum (ETH) This week was brutal and Ethereum crashed by 16%. Most of the market is in red with double digits losses across the board, including for Bitcoin. The reasons for this drop could be tied to some major actors selling BTC like Germany or Mt. Gox. Either way, ETH’s price has been in a free fall and is now testing the support at $2,800. If this level will not hold, then the price may quickly…

Odds of United States President Joe Biden being reelected fell as low as 9% on decentralized predictions platform Polymarket as punters speculated whether Vice President Kamala Harris will replace Biden as the Democrat candidate. Biden’s odds have since briefly recovered slightly, now at 10% in Polymarket’s $226 million “Presidential Election Winner 2024” market. Former President and Republican candidate Donald Trump is the favorite with 61% odds, and Harris is in second place with 19% odds. Polymarket’s presidential election market. Source: Polymarket Share prices reflecting Biden’s odds on predictions platform PredictIt…

The US spot Bitcoin ETFs experienced a net outflow of $20.45 million on Wednesday. Interestingly, only two of them showed activity amid market uncertainty. Grayscale’s GBTC saw a $26.99 million exit, while Fidelity’s FBTC gained $6.55 million. The remaining nine funds, including BlackRock’s IBIT, Bitwise’s BITB, and VanEck’s HODL, reported no flows. US Bitcoin ETFs’ Market Momentum Wanes According to data compiled by SoSoValue, trading volume for these 11 funds reached around $800 million on July 3rd, down from $995 million the previous day. This represents a significant decrease from…

An ongoing lawsuit by the New York Times (NYT) against OpenAI took a strange twist on July 1 when the AI firm filed documents asking the court to order the venerable publisher to prove the originality of its articles by providing detailed source materials for each copyrighted work.  According to the NYT, OpenAI used its articles to train artificial intelligence (AI) models without asking for permission or offering compensation. OpenAI has maintained that its use of materials that it “scraped” from the internet is fair. OpenAI seeks discovery As first…

The Bitcoin network is showing some signs of miner capitulation. This stage is marked by miners ceasing operations or selling part of Bitcoin reserves. Interestingly, this process has been historically linked to a bottoming of Bitcoin prices, following which the asset is expected to resume a much-needed uptrend. Signs of Bitcoin Miner Capitulation Since the recent halving, the network hash rate has dropped by 7.7% from its peak on April 27. According to the latest report CryptoQuant, this decline suggests that less efficient miners have likely shut down their equipment…

According to experts at 10x Research, Bitcoin is poised to fall below $57,000 from over $60,000 on July 4. They suggest that this sharp decline may just be beginning, potentially dropping further to $50,000. Breaking the psychological $60,000 benchmark toward $50,000 marks a significant shift in market sentiment, which 10x Research attributes to buy flows drying up “while sell flows are accelerating.”  Markus Thielen, an analyst at 10x Research, suggests that the downward spiral was foreseeable, stating: “Our data from early June already hinted at an overbought market ripe for…