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
- Sotheby’s Auctions Rare Bored Ape NFTs
- Keith Gill’s Astounding Success
- ChatGPT Experiences Platform Outages
- Project of the Day
- Crypto Corner
- Market Sentiment & Predictions
- Business & Political Insights
Market Watch
Top Gainers
- FLOKI ($FLOKI): +25.2%
- Uniswap ($UNI): +18.5%
- ORDI ($ORDI): +14.5%
Top Losers
- Wormhole ($W): -6.7%
- Ethena ($ENA): -6.0%
- Notcoin ($NOTI): -4.6%
Trending Crypto Sectors/Categories
- Base Meme
- Centralized Exchange (CEX)
- Exchange-based Tokens
Total Crypto Market Cap – 2.772 Trillion
Fear and Greed Index – 75
Top NFT Sale
- Cryptopunks #3041 Sold for 30 ETH
Highlights of the Day
Sotheby’s Auctions Rare Bored Ape NFTs
In a bold move that underscores the growing intersection of digital assets and fine art, Sotheby’s is gearing up to auction off a collection of rare Yuga Labs NFTs. As anticipation mounts for the auction, all eyes are on Sotheby’s to see whether these rare and coveted digital assets can still command staggering prices in the face of market turbulence.
Lot for Sale
Among the highlights of the auction is Bored Ape #8552, a standout piece characterized by its luxurious gold fur and distinctive sushi chef headband. Additionally, collectors will have the opportunity to bid on two gold-furred NFTs from the Mutant Ape Yacht Club and one from the Bored Ape Kennel Club.
Keith Gill’s Astounding Success
In a story that has captured the imagination of Wall Street enthusiasts, Keith Gill, better known by his online monikers Roaring Kitty and DeepF——Value, has solidified his status as a legend in the world of meme stocks. Gill’s meteoric rise to fame came as he turned a modest $53,000 investment into a staggering fortune nearing $300 million, all by betting on the retailer GameStop.
GameStop Stock Dumps
In a recent turn of events, GameStop stock experienced a notable dip of 35% in response to new statements from Gill, signaling his continued ownership of millions of shares. With these volatile movements, all eyes remain firmly fixed on Roaring Kitty, the man behind one of the most remarkable investment stories of our time.
ChatGPT Experiences Platform Outages
OpenAI’s ChatGPT service encountered a significant disruption on Tuesday, causing inconvenience for many users who rely on the AI chatbot for various purposes. The outage commenced early Tuesday, impacting web users initially at 00:21 PDT, with reports indicating that mobile users experienced more pronounced difficulties.
Services Restored
OpenAI swiftly addressed the issue, confirming that all services were fully operational as of 04:45 am PDT, assuring users that the incident has been successfully resolved. Despite this reassuring update, OpenAI has provided limited insight into the root cause of the outage or the specific challenges encountered by affected users.
Project of the Day
BNB
Binance coin ($BNB), the exchange token of Binance, was initially introduced on the Ethereum blockchain but subsequently transitioned to the Binance Smart Chain, now recognized as the BNB Chain. $BNB functions as the native token for the BNB Chain, facilitating transaction fees and granting holders on-chain governance rights.
Notably, recent market movements have propelled $BNB to a remarkable milestone, surmounting a market capitalization exceeding $100 billion. Presently, it commands a market cap of $103 billion, with a valuation hovering around $700. Examination of price dynamics reveals a trajectory characterized by notable growth: over the preceding 24-hour period, $BNB witnessed an appreciable uptick of over 11%, while spanning the course of 7 days, it exhibited a moderate increment of 16%. Delving further, the past month showcased a steady ascent of over 20%, while the preceding 12 months witnessed a substantial surge, eclipsing 133%. These metrics underscore the bullish community sentiment and confidence in the $BNB ecosystem.
Crazy Day in Crypto
- Iggy Azalea’s cryptocurrency, MOTHER, has surged 30% in value to $0.1 per token within a week of launching on the Solana blockchain, propelling its market cap to $100 million.
- Bitcoin experienced significant price fluctuations recently, briefly hitting $71,000, with analysts predicting potential volatility ahead.
- Binance’s native token, $BNB, has recently achieved a significant milestone by surpassing a market cap of over $100 billion, indicating strong investor confidence and market adoption in the cryptocurrency.
Market Sentiment & Predictions
- According to a recent report from K33 Research, upcoming spot Ethereum ETFs in the US might attract significant inflows, potentially absorbing over 1 million ETH, amounting to $4 billion, in their first 5 months of trading.
- Michael Novogratz, the billionaire CEO of Galaxy Digital, foresees Bitcoin potentially surpassing $100,000 by the end of 2024 if it returns to its previous high of around $73,000 reached in March.
Business Talks & Political Insights
- FTX proposes settling IRS’s $24B tax claim with $200M payment and $685M junior subordinated claim, aiming to resolve a significant dispute arising from the collapse of the exchange.
Bitcoin miner Core Scientific is diversifying its business by expanding into AI through a $3.5 billion partnership with cloud company CoreWeave, aiming to counteract falling crypto mining revenue amid industry challenges.
