Kategorie: Crypto Analysis

• OpenAI revealed a major update to its large language model this week with the launch of ChatGPT-4o
• Google confirmed the launch of Gemini for Workspace, integrating its AI model into Google’s enterprise suite
• Choise.ai launched an AI-powered layer 2 blockchain for enterprises

AI announcements have come thick and fast this week, with Google and OpenAI going head-to-head as both corporations launched major updates to their artificial intelligence offerings, while AI-powered crypto platform, Choise.ai, confirmed the launch of its layer 2 blockchain for enterprises. 

AI steals the show at I/O 2024

Artificial intelligence was quite literally the name of the game at I/O 2024 this week, Google’s annual tech conference where new and upcoming launches are showcased.

The search engine not only revealed the expansion of its rollout for Gemini for Workspace, but also showcased an enterprise-grade update to Gemini Advanced, which enables businesses to connect their Google Drive to Gemini in order to analyze data, populate spreadsheets and build charts. A new AI assistant project codenamed ‘Project Astra’ was also revealed. 

OpenAI stealing Google’s thunder?

Sam Altman’s OpenAI had its own launch event this week, apparently timed to coincide with Google’s I/O 2024 conference in a bid to steal the search giant’s thunder. 

OpenAI revealed the launch of its new AI model at this event, named ChatGPT-4o, which is much more powerful than previous AI models and will also be available to all users, both free and paid. 

Choise.ai finally confirms AI-powered L2 rumors

The rumors about Choise.ai working on its own blockchain, which have been circulating within the crypto community for several weeks, were also finally confirmed this week. The team has officially announced their new L2 platform, Entropy, designed to become “the ultimate B2B enterprise and business-ready layer for the future.” 

While comprehensive details on the technological aspects are yet to be disclosed, industry insiders are suggesting Choise.ai’s new Entropy blockchain will transcend conventional L2 solutions by incorporating AI technologies that can accelerate the widespread adoption of Web3 and blockchain. 

What we do know so far is that Choise.ai intends for Entropy to serve as the foundation of an AI-powered ecosystem for the settlement layer of the future, and will feature smart contract automatization for autonomous operations. 

Early indications also suggest Entropy will offer a number of innovations that are designed to democratize access to and adoption of L2 blockchain technologies, including a no-code environment that will lower the global barriers for anyone to build, implement and benefit from blockchain and AI, as well as a marketplace for AI models. 

“We are building more than just an L2 platform, we are creating an AI-powered ecosystem where AI agents can have the capability to write, optimize and execute smart contracts themselves. This has never been done and our solution will ensure that every transaction and operation is executed with unmatched precision and efficiency,” the Choise.ai team stated.

Choise.ai’s CHO token, which surged by over 500% in the wake of Choise.ai’s prior advancements, remains central to the company’s new innovations, suggesting the value of CHO could rise sharply again as crypto markets factor in the growth potential this new AI-driven L2 could provide.

Still holding my $CHO | @ChoiseAI bag.

Its been a solid performer recently with great price action, but still very far from ATH. Team recently announced holders will get up to 20% of Vault’s revenue.

Their focus shift to B2B with AI-based Web3 digital banking products, they’ve… pic.twitter.com/EvLJPjc2Bt

— Sjuul | AltCryptoGems (@AltCryptoGems) April 10, 2024

In fact, one crypto analyst is predicting a 223% jump in the value of the CHO token on the back of this new announcement.

The post As OpenAI and Google both reveal major AI updates, Choise.ai launches AI-powered L2 blockchain for enterprises appeared first on CoinJournal.

Key takeaways

• Bitcoin continues to struggle below $62k and could plunge lower in the short term.
• Bitbot has raised $3.3m so far, with only two stages of the presale left.

Bitcoin stays below $62k

Bitcoin has been struggling in recent weeks and could record further losses if the market condition persists. At press time, the price of Bitcoin stands at $61,254, down by than % in the last seven days.

The poor performance comes as the US Federal Reserve recently dashed hopes of cutting interest rates in the short term. Risk-averse assets like Bitcoin continue to underperform with the interest rate still high. 

What is Bitbot? 

Bitcoin’s boring price performance hasn’t affected other activities in the broader crypto market. Presales and airdrops continue to attract the attention of Degens and other industry participants. 

Bitbot is one of the projects that is raising capital from investors to address certain pain points in the market. It is a Web3 project that seeks to bring unique value propositions to traders in the cryptocurrency space. It is a Telegram trading bot that puts the power in the hands of the user. 

According to their whitepaper, the team describes Bitbot as a self-custodial trading bot that enables users to trade via their cold wallets on Telegram. The solution provides traders with an innovative way of trading and is leveraging Telegram’s position as a leading social media platform for crypto users. 

Bitbot users will enjoy certain features available only to institutional investors, making it easier for traders to grow their trading portfolios.

Bitbot’s tech targets retail traders

Bitbot is rolling out tech solutions that could help retail traders excel in the cryptocurrency market. According to their whitepaper, Bitbot will leverage the Knightsafe to offer a self-custody solution. This solution helps in mitigating the typical risks associated with Telegram trading.

Furthermore, the integration of anti-MEV and anti-rug solutions will help users protect their assets. These solutions would ensure traders protect their data and assets from bots artificially pumping transaction costs and block scam projects.

With more than $3.3 million raised so far, some of the presale funds will be channeled towards integrating Ultra-flexible wallet management fuelled by non-custodial API technology. 

Finally, Bitbot will also enable the Cop Trading feature, allowing novice traders to copy the trades of the strongest-performing wallets based on on-chain activities.

Bitbot’s presale tops $3.3m

The Bitbot presale is currently in its tenth stage and is drawing closer to its end. So far, the project has raised $3,337,931 of the required $3,546,000 in this current stage. According to the team, there are only two presale stages left.

The $BITBOT token is going for $0.0180 in the current presale round and will increase to $0.0189 once the next round commences. 

The whitepaper indicated that the Bitbot development team will hold 20% of the total token supply and use it to fund ongoing development. An additional 14% is allocated to marketing & CEX listings while 3% is allocated to exchange liquidity provision.

Click here to read more about Bitbot’s upcoming presale. 

Should you buy the Bitbot token now? 

There are only two stages left in this presale, which means the opportunity to invest early in this project is slipping away. Bitbot’s presale continues to attract more investors despite the choppy market conditions.

Bitbot is looking to gain massive adoption in the market by offering unique technologies that would allow traders to improve their trading activities. Its native token could be a big winner in the coming months and years with the right level of adoption.

The post Bitcoin still struggling around $61k: Will it dip lower? appeared first on CoinJournal.

Popular cryptocurrencies are on edge as investors wait for their upcoming token unlocks that will lead to more dilution. Arbitrum’s ARB token was trading at $1 on Sunday, down by over 58% from its highest point in 2023, and is near its lowest swing since December 1st last year. 

Top token unlocks ahead

AEVO, a newly launched token, has also tumbled to about $1.20, its lowest level on record. It has crashed by more than 68% from its highest level this year. 

Render Token (RNDR), on the other hand, has defied gravity as other cryptocurrencies slip. It jumped to a high of $11.5, its highest swing since March 27th. It has soared by over 75% from its lowest level in April, helped by the rising demand for artificial intelligence (AI) assets. It is also nearing its highest level this year.

These cryptocurrencies will be in the spotlight this week as investors focus on their upcoming token unlocks. A token unlock is a situation where more coins are released to the market as part of their tokenomics. These unlocks lead to substantial dilution by introducing tokens to the market.

Data by TokenUnlocks shows that AEVO will release over 827K tokens on May 15th, a substantial amount since AEVO has 110 million tokens in circulation. If the figure is correct, it means that the network will have substantial oversupply.

Arbitrum, the biggest layer-2 network in the market, will have its token unlock event on May 16th. It will release over 92.6 million tokens, a substantial figure since It has over 2.6 billion tokens in circulation.

Render, a platform that offers decentralized GPU, will have its token unlock on Friday. It will release over 8.4 million tokens equivalent to 0.20% of its supply. 

The other popular networks that will have token unlocks soon are Aptos (APT), Pendle, ApeCoin, Manta, and Oasis Network.

BitBot token sale going on

Meanwhile, BitBot, an upcoming blockchain platform, is doing well as its token sale gains momentum.

Data shown on its website shows that it has raised over $3.3 million from global investors. This figure makes it one of the most popular tokens in the market. It has now entered its 13th stage, meaning that the token sale is nearing its end. The final part of the sale will be the 15th stage.

BitBot is a platform that seeks to become the leading player in the crypto trading industry. It will provide a Telegram bot that will help thousands or millions of people make money day trading these assets.

BitBot will be a unique Telegram bot for three main reasons. First, in addition to the normal technical analysis, it will have unique artificial intelligence features that are expected to boost its accuracy. 

Second, the network will be non-custodial, meaning that it will not have access to user data and funds. Third, it will be powered by $BITBOT, a crypto token that will have more features like revenue sharing and governance features. You can buy the $BITBOT token here.

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In the wake of the Bitcoin halving on April 19, the price of BTC has failed to maintain its upward trajectory, but the network has continued to generate headlines and transactions in equal measure. Much of this activity has been thanks to Bitcoin Runes, the protocol created by Ordinals imagineer Casey Rodarmor which went live post-halving.

Runes have been responsible for $135M in miner fees in the wake of the halving, proving their ability to subsidize reduced block rewards moving forwards. While it remains to be seen whether the robust interest in Runes can be maintained, the signs are promising so far. One figure who’s predicting a bright future for Bitcoin Runes is Alvin Kan. The Bitget Wallet COO has been following the sector closely due to its integration into the wallet’s dapp browser.

Making Sense of Runes

Runes were designed to support fungible tokens on Bitcoin without clogging up the network. They’re a more efficient and natively integrated solution than BRC20, which has been the dominant fungible token standard up until now. Runes have the potential to do for tokens on Bitcoin what Ordinals did for NFTs.

Unlike other Bitcoin token standards, Rune uses the same UTXO model as BTC itself. This results in more efficient transaction ordering and UTXO management. As a result, bitcoiners can enjoy experimenting with memecoins and other tokens without congesting the network in the process.

Bitget Wallet has long been a supporter of Bitcoin innovation, having been quick to endorse Ordinals and BRC20s. It’s one of the first wallets to have integrated Runes, allowing users of the non-custodial wallet to buy and sell Runes assets using the built-in dapp browser.

According to COO Alvin Kan, there are several reasons why Runes have proven so popular straight out the gate, racking up 300 BTC in trading volume within the protocol’s first 24 hours. He points to Runes’ status as the leading Bitcoin tokenization protocol, prompting a string of platforms and wallets to quickly roll out support. The fact that many Runes projects have airdropped tokens to existing Ordinals holders has also helped onboard bitcoiners in their droves.

Putting a Price on Bitcoin Fees

While the uptick in network activity has been good for miners, who’ve pocketed tens of millions of dollars in additional fees, users have been obliged to pay over the odds to have transactions processed. Alvin notes that fees spiked to as high as 2,000 sats/byte as Runes interest reached fever pitch. The activity was particularly intense due to developers competing to mint inscriptions in the first block published following the halving. Nevertheless, the Bitget Wallet COO believes that these teething problems can be overcome as fees subside and developers take full advantage of Runes’ ability to deliver efficient UTXO usage.

“​​I’m confident of the future of the Runes Protocol,” said Alvin. “This is just the beginning of a global phenomenon that will surely be a prominent sector in web3 for innovation.”

The post Bitget Wallet COO Alvin Kan Is Confident Bitcoin Runes Are Here to Stay appeared first on CoinJournal.

A sense of fear is creeping up in the cryptocurrency market as investors focused on the upcoming Federal Reserve decision. The closely-watched crypto fear and greed index has crashed from the extreme greed zone of over 80 to the neutral phase of 58. 

This price action happened as the price of Bitcoin remained in a tight range between $70,000 and $60,000 and other altcoins like Solana, Avalanche (AVAX), and Cronos (CRO) have all plunged hard recently. Still, there are some positive signs, with BitBot raising over $3 million in its token sale.

Federal Reserve decision ahead

Bitcoin and other altcoins have retreated sharply ahead of this week’s interest rate decision. Economists expect that the bank will continue with its hawkish tone in this meeting since inflation has remained stubbornly high.

Data released this month revealed that the headline Consumer Price Index (CPI) rose to 3.5% in March while core CPI jumped to 3.8%. A separate report released last week showed that the Personal Consumption Expenditure (PCE) rose to 2.5% while core PCE jumped to 2.8%.

These numbers mean that inflation has remained stubbornly high and is above the Federal Reserve’s target of 2.0%. There are signs that inflation will remain higher for longer now that the price of crude oil and industrial metals continued rising.

Further, the prices of key services like rent and insurance have continued to rise in the past few months. Therefore, there is a likelihood that the Federal Reserve will point to higher rates for longer. 

In most cases, risky assets like Bitcoin, Solana, and Avalanche tend to retreat when the Fed has embraced a hawkish tone. For one, such tone, when other central banks are thinking of cutting interest rates, will push to a higher US dollar. 

BitBot token sale continues

Meanwhile, BitBot has continued its token sale, raising over $3 million, signaling that there is strong demand for newer coins. 

BitBot is a platform that seeks to disrupt the trading and investing industry. It is building a trading bot that will help traders profitably execute trades. BitBot’s technology is based on technical analysis and artificial intelligence (AI).

The bot will be distributed in Telegram, an app that is used by more than 900 million users a month. This is a big industry that is growing at a fast pace as it has helped to facilitate over $19 billion in trades. These trades have led to over $100 million in revenues for their developers.

BitBot aims to solve some of the top challenges in the trading bot market. In the first place, the developers aim to make it more profitable than other bots in the market by using artificial intelligence and other technologies. 

It also aims to be faster than other bots by leveraging its custom RPC node and institutional infrastructure. The network also ensures strong security features by being non-custodial. You can buy the BitBot token here.

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