It has been a busy day in terms of news, so let us catch you up on the latest and greatest.
Today’s Agenda:
- Market Watch
- Highlights of the Day
- Artificial Super Intelligence (ASI) Alliance
- SAGA Launches Airdrop Campaign
- $DRIFT Airdrop
- Project of the Day
- Crypto Corner
- Market Sentiment
- Business and Political Insights
Market Watch
Top Gainers
- Celestia ($TIA): +9.6%
- Fantom ($FTM): 6.6%
- Maker ($MKR): +5.6%
Top Losers
- NEO ($NEO): -4.9%
- Stacks ($STX): -4.8%
- Core ($CORE): -3.1%
Trending Crypto Sectors/Categories
- Modular Blockchain
- Data Availability
- DWF Labs Portfolio
Total Crypto Market Cap – 2.424 Trillion
Fear and Greed Index – 67
Top NFT Sale
- CryptoPunks #4473 Sold for 75 ETH
Highlights of the Day
Artificial Super Intelligence (ASI) Alliance
Fetch.ai, a prominent player in decentralized artificial intelligence (AI), has recently gained approval for its merger with SingularityNET and Ocean Protocol, heralding the birth of the Artificial Super Intelligence (ASI) Alliance. This strategic move combines the strengths of the three entities, aiming to revolutionize the AI landscape.
Voting Results
The voting results for the token merger have been overwhelmingly positive, indicating widespread support from stakeholders. Key highlights include the transformation of the $FET token into $ASI, with a total supply of 2.63 trillion tokens. Additionally, $AGIX and $OCEAN tokens will migrate to $ASI at respective ratios of 0.433350 and 0.433226, consolidating the assets under the new alliance.
SAGA Launches Airdrop Campaign
SAGA, the innovative Layer-1 blockchain protocol, has made waves in the Web3 space with its recent mainnet launch and listing on Binance. Now, in a move to engage its community and celebrate its success, SAGA has unveiled the largest airdrop campaign to date.
Airdrop Details
Partnering with over 100 projects and games across various blockchain networks, SAGA aims to reward its loyal stakers with bundles of tokens and NFTs. These airdrops, organized into themed “vaults,” promise an array of exciting prizes and showcase the vast potential of the Web3 gaming community.
$DRIFT Airdrop
Drift, the decentralized exchange on the Solana network, is taking a major step towards full decentralization with the launch of its governance token, $DRIFT. Alongside this move comes an ambitious airdrop of 100 million $DRIFT tokens to its community and active users. This initiative aims to shift towards a community-driven governance model, empowering token holders to influence critical operational decisions.
$DRIFT Airdrop Details
Out of the 100 million tokens allocated for the airdrop, 180,000 Drift users will receive tokens based on their platform activity. Drift has conducted multiple snapshots over the past three years and analyzed activity comprehensively to determine eligibility for the token distribution.
Project of the Day
Fantom
Fantom ($FTM), founded in 2018, distinguishes itself with its innovative Directed Acyclic Graph (DAG) technology. This approach allows for parallel transaction processing, resulting in significantly faster transaction speeds compared to traditional blockchains.
The DAG structure not only enables rapid transactions but also ensures scalability as the Fantom network expands. This scalability is crucial for meeting the increasing demand for decentralized applications (dApps) and infrastructure on the Fantom platform.
Regarding price movements, $FTM currently boasts a market cap surpassing $1.9 billion, with its price hovering around $0.7. Analyzing market trends, the price of $FTM shows a positive correlation with the top 10 coins by market cap. Notably, $FTM crossed the $1 threshold in March for the first time since May 2022, signaling heightened buying activity. However, following a multi-year peak of $1.20, the price underwent a correction of approximately 45%. Presently, $FTM’s price remains near its support/resistance level, indicating uncertainty regarding its future price trajectory.
Crazy Day in Crypto
- The Bitcoin halving is just around the corner, expected to take place in less than three days on April 19th at 17:24 UTC.
- Polkadot’s community suggests an $8.8 million sponsorship with Lionel Messi’s Inter Miami Football Club for the 2024 and 2025 seasons, aiming to enhance global visibility through sports marketing initiatives.
Market Sentiment
- The recent Ethereum price drop has raised concerns, compounded by uncertainty regarding a spot Ether ETF approval in May, while a bearish sentiment in derivatives markets suggests potential price corrections below $2,900.
- The CEO of Crypto.com predicts a “buy-the-rumor, sell-the-news” pattern for the upcoming Bitcoin halving, anticipating initial selling pressure but long-term positive effects on Bitcoin’s price.
- The S&P 500’s dip below its 50-day moving average could signal trouble for Bitcoin and the cryptocurrency market, as their correlation implies cautious crypto trading after stock declines and a possible Bitcoin rise with stock market gains.
- Anthony Scaramucci predicts that Bitcoin will transform into a store of value by 2026, once it attracts a user base of at least one billion.
- Peter Schiff argues that Bitcoin is in a “stealth bear market,” citing its 27% decline relative to gold from its peak over the past 2.5 years.
Business Talks & Political Insights
- Federal Reserve Chair Jerome Powell stated that the U.S. economy has yet to make sufficient progress in reaching the central bank’s 2% inflation target, suggesting that the current level of restrictive monetary policy is expected to persist until inflation approaches the goal.
- The Arkansas Senate has introduced legislation proposing fees for Bitcoin miners, categorized by energy usage levels reflecting a broader global trend of governments increasing regulations on crypto mining due to concerns over energy consumption and environmental impact.
Binance.US has appointed Martin Grant to its board of directors, who previously served as the chief compliance and ethics officer at the Federal Reserve Bank of New York for 17 years.
