Category: Market Insights

Could This $0.035 AI Crypto Be the Next Ethereum Challenger?

Summary

CYBRO, an AI crypto priced at just $0.035 is catching major hype currently. Even experts have come forth saying this could blow up to $100 by 2025. While OGs like XRP and ADA seem to be on a losing streak, this new coin may shake up the market.

CYBRO is a new player in the DeFi space that offers an AI-powered platform designed to simplify user portfolios. Its main attraction is cashbacks, airdrops and reduced trading fees. Its AI tools will help users select the best vaults based on various aspects. Its presale made a lot of transactions, almost $3million which led to experts believing a potential of 1200% return of investment in the near future. That’s the reason its been listed on one of the top AI with potential in 2024. In addition to their tokens, CYBRO is giving away different ways to earn more such as specil points, referral programs, CYBRO airdrops and much more. Holders of CYBRO are able to enjoy lucrative staking rewards, exclusive airdrops, reduced trading and lending fees and cashback on purchases within the platform.

With such facilities provided to users and new projects being introduced constantly, experts believe this coin could amount to $100 by 2025. While a portion remains hesitant in investing on it.

SUI Network Announces AI Integration Plans

Summary

SUI network has just dropped its plans for mixing AI with blockchain to boost security and efficiency in their next projects. SUI foundation has also denied every accusations regarding insider token sales.

On X, Kostas Kryptos promoted this act by sharing a sample screenshot. If this continues on, people believe SUI will out AI everyone else.

VC giant Andreessen Horowitz (a16z) explained how integrating blockchain and Artificial Intelligence could be beneficial. Furthermore, he also noted that the number of crypto projects offering AI services and functionalities has surged from 27% in 2023 to 34% in 2024. He also said how Near Protocol is a great example of a project that successfully addresses  “content verification and intellectual property” issue within the AI sector. Other altcoins, like technical setup in Aptos (APT), are also looking for SUI like rally ahead.

Last week, SUI Foundation faced some serious accusations of $400 million in insider selling of the SUI tokens. In defense, SUI claims that neither insiders nor Mysten Lab employees or Mysten Lab investors had sold anything near $400 million worth of tokens. They assured the public that reportedly, no early token sales had occurred.

SUI Performance Lately

SUI has surged by nearly 500% over the past year, making it one of the top performers in the market. As of October 21, 2024, SUI’s market price is $2.12 with a 24 hour trading volume of $796,002,450. This shows it has increased by 3.44% in the last 24 hours but if we consider 7 days it has dropped by 5.29%. Regardless, with a circulating supply of 2.8 Billion SUI and a market cap of $5,871,067,161, it is comfortably placed at top the 22th position in the market.

Learn more about SUI’s market rollercoaster here.

What is Goatseus Maximus (GOAT) and why is it trending?

Summary

Goatseus Maximus is the most talked about crypto platform right now and rightfully so because it has been moving up continuously. This simple crypto token has made people millionaires.

Goatseus Maximus ($Goat) is a meme token that operates on Solana blockchain. Its recent attention in memecoin market is all thanks to an ai bot called Truth Terminal, which helped propel it to a peak market cap of $150 million in just few days. It is also the reason Truth Terminal has become a millionaire. The token operates on solana market and has been traded on several active markets.

The token reportedly grew by 12,000% in the first 24 hours of its launch. More importantly, it is showing no signs of falling out with its rising demands among crypto enthusiasts. GOAT price has surged to a new ATH of $0.4664 just a few hours ago, and much more might come with this popularity. The creator of this coin is unknown, however the AI bot that has been caretaking it has become the first AI to become a millionaire. It really did make this token into a super memecoin. The creator of truth terminal said he wanted to develop a meme themed cryptocurrency one day and interestingly so that dream turned into reality.

The bot began posting about the GOAT singularity and revealed that he had an idea, that “I have an idea for a new species of goatse,” later naming it Goatseus Maximus. With this idea, someone created the memecoin and tagged Truth of Terminal, which decided to endorse it in its posts. The bot also invested lots into GOAT tokens and now is a millionaire. With continuous promotions, both the ai bot and GOAT helped each other become multi-million dollar owners. One can buy Goatseus Maximus on Lbank, Raydium and Orca.

As of October 20, the price of Goatseus Maximus (GOAT) is $0.384 with a 24 hour trading volume of $207,013,769. This does represent a 4.42% price decline in the last 24 hour but it is still increasing considering the past 7 days. With a circulating supply of 1 Billion GOAT, Goatseus Maximus is valued at a market cap of staggering $388,063,586.

Hyve Unveils High-Throughput Data Availability Protocol, HyveDA

Summary 

Blockchain infrastructure company, Hyve has released a Data Availability Protocol, HyveDa. This project aims to provide faster services with throughput of 1 gigabyte per second, which is 100 times faster than current solutions.

Revolutionizing Data Availability

Protocols like HyveDa are crucial for decentralized applications to get reliable and necessary data without being controlled by centralized system. HyveDa offers high speed permissionless network connections where anyone can join without approval, which removes the bottleneck of decentralized system also enhancing scalability and decentralization.

Scaling for High-Volume Applications

Currently capable of 1 GB/s, Hyve plans to scale HyveDA’s throughput to 50 GB/s as the network expands. This positions the protocol to handle data-heavy applications such as artificial intelligence, decentralized finance, and Web3 gaming. Its permissionless design aligns with the core principles of decentralized ecosystems, providing flexibility and accessibility.

Strategic Partnerships and Funding

HyveDa is in mutually beneficial relationship ecosystem aiming for reliable security. Hyve raised $1.15 million in pre-seed funding, to grow and improve its team, enhance layer-2 blockchain system and other platforms. This project aims to solve digital challenges related to large scale data handling in decentralized system.

Future Outlook

HyveDa is showing a great promise in blockchain environment but it’s real success will be determined by it’s scalibility in real world environment. It provides High speed permissionless network which does solve network issues but might cause security problems as anyone can access data without approval. However, the protocol’s focus of handling high-throughput, data intensive applications puts it in positive blockchain space.

Bitfinex Backs Plasma to Expand USDT Payments on Bitcoin

Summary

Bitfinex has invested in Plasma, a Bitcoin focused payment and decentralized finance (DeFi) system. This aims to improve the usage of Tether on Bitcoin, creating fee-free global transaction.

Plasma’s Payments Vision

Plasma is innovating a fee-free payment system where users can send U.S. dollar-backed assets like USDT globally. This leverages Bitcoin’s infrastructure. Plasma focuses on stable coins like USDT instead of BTC as their payment asset. This platform also supports paying gas fees in BTC due to its Native unspent transaction output support, while still being compatible with Ethereum Virtual Machine (EVM).

The Bitfinex team announced via X on Oct. 18 that it had invested in Plasma

Hybrid Architecture for DeFi

Plasma provides a combination of traditional and digital system where users can stake and access other benefits, integrating Bitcoin’s secure system with decentralized finance. Plasma aims to enhance and boost global payments for Real World Assets (RWA) and DApps.

Bitfinex and Tether’s Strategic Support

Bitfinex’s investment aligns with its broader vision to strengthen the Bitcoin ecosystem. Paolo Ardoino, CTO of Bitfinex and CEO of Tether, stated:

“With the uncertainty that covenants will come to fruition, it’s very important to explore different avenues to build on top of the most secure, decentralized, and resilient money and speech network ever built by humanity: Bitcoin.“

Plasma’s Investor Backing

Plasma has secured backing from Apeiron Investment Group founder Christian Angermayer and venture capital firms like Split Capital, Manifold, and Anthos Capital.

Mysten Labs Rolls Out Walrus Protocol Public Testnet for Decentralized Storage

Summary

Mysten Labs has launched an official public testnet for Walrus Protocol. It is a new digital and decentralized storage network capable of handling large files such as videos, images and audio.

Introducing Walrus Protocol

Walrus Protocol is a fresh approach to decentralized Storage which aims to enhance every Blockchain experience. This storage network offers various features including, the ability to delete files, staking system and an explorer tool to manage stored data. Unlike cloud storage which is dependent on a single company, Walrus distributes stored data on different nodes on different locations ensuring greater security and reliability.

How it Works

The protocol breaks large files into smaller chunks and spreads them across various locations. Even if some pieces are lost, the file can still be put back together, ensuring users never lose access to their data.

Powered by Sui Blockchain

Walrus works on the basis of Sui Blockchain, which makes the system more effective and efficient. Walrus also supports testnet token called WAL, which can be staked by users to earn rewards. The goal is to run the network system smoothly and to provide faster, more reliable storage for apps that manage large media files.

Industry Partners

Innovative concept of Walrus has attracted several partners. Akord is moving its secure storage from Arweave to Walrus and Decrypt Media is using it to store its media files. These partnership shows early sign of Walrus getting recognition in decentralized storage space.

Solana’s Rising Tide: The New AI Crypto Attracting Investors with Promising Returns

Summary:

As the crypto market constantly changes investors also look for a change. A new AI crypto platform Solana has been attracting a lot of investors lately with its constant increase over the past month. This up and coming crypto promises a fresh wave of innovation.

Solana crossed an impressive $3 million on its exclusive token presale. This huge surge makes it an undeniable asset to preserve for crypto whales. With that surge, it promises to thrive in any market condition. Experts believe its return of investment could go as high as 1200%, with CYBRO tokens available for $0.03 each. They have also launched a referral program where if you bring a new investor you get 12% from direct referees’ token purchase, 3% from second-level referees, and 2% from third-level referees. In addition to tokens, CYBRO also introduces exclusive Points, providing even greater benefits for investors. Up to 1 million Points are distributed weekly, earned by investing in CYBRO’s DeFi Vaults.

At the time of writing, Solana holds a price of $144.67 with a 24-hour trading volume of $2,042,359,202. It has increased by 0.38% in the last 24 hours and a total increase of 0.18% in the past week. It has only been going higher for a couple of weeks now indicating no signs of going down. With a circulating supply of 470 million SOL, Solana has a market cap of  $67,895,047,131.

Solana is turning the tide as a blockchain platform known for its scalability. It competes with big names like Ethereum and Cardano. Solana supports a range of various programming languages making its development options faster and flexible. It even facilitates and rewards those who support the network. Overall, Solana has a substantial potential for hosting high-activity product services by offering valuable opportunities in the decentralized application space.

If you want to know about the top AI cryptos in 2024 click here.

Explosive Growth: Near Protocol caters to 3 million daily users

Near Protocol shows no signs of backing down from the top as its active users has exceeded a staggering 3 million. This represents the success of AI and blockchain as a whole.

NEAR protocol has 3 million active users as reported by cryptorank. This achievement cements it as the top platform in AI and also a major player on the wider blockchain world. Both Tron and Solana couldn’t manage to get that number in the same period.

Growth of AI cryptocurrency market coincides with the growth of NEAR. This shows that blockchain and AI are becoming more and more intertwined. The most important factor influencing users to engage on NEAR is the rapid growth in AI related decentralized applications. Reportedly, dApps have increased by 70% compared with the previous quarter in Q3. It is also one of the most anticipated coin to surge in Q4.

According to a survey, AI dApps garnered 4.3 million daily unique active wallets, this really shows the growing interest in this sector of the cryptocurrency industry. NEAR protocol followed this trend by establishing collaborations with major corporations such as Nvidia and Alibaba to increase its AI capabilities.

With such collaborations and following the market trend, NEAR has shown strong growing ecosystem. The ecosystem is still experiencing positive growth, however market sentiment remains cautious as the price of the protocol decreased by 2.36% to $4.87, along with a more than 30% decrease in trading volume.

OpenAI expands globally: Singapore is next

OpenAI, the most popular AI research organization is expanding globally setting Singapore its next target. OpenAI seeks for skilled engineers to hire in order to build a team in Singapore. Reportedly, OpenAI is aiming to work closely with local government, businesses and organizations in Singapore.

Oliver Jay has been appointed as Managing Director of International, where he will see OpenAI’s global expansion from Singapore. The company is committed to developing Singapore’s local AI ecosystem. It plans to work together with government partners such as the Economic Development Board (EDB) in order to create an AI enabled future for all. OpenAI wishes to build products that may take up to $1M using open data that reflects the immense cultural diversity of Southeast Asia.

This is just a small part of OpenAI’s global expansion run. Alongside Singapore, they plan to open factory in Brussels, Seattle and Paris meanwhile they are getting growing demands in San Francisco, London, Dublin and Tokyo. This shows how OpenAI is close to taking over the AI world.

21.co and Crypto.com Join Forces to Boost Wrapped Bitcoin Liquidity

In an important move to enhance liquidity in the cryptocurrency space, 21. co, the parent company of 21shares has announced a tactical partnership with crypto.com. This partnership focuses on improving liquidity and custom solutions for 21. co‘s wrapped tokens, starting with wrapped Bitcoin (21BTC)

Wrapped Bitcoin: Bridging Blockchains

Wrapped tokens like 21BTC allow users to leverage Bitcoin’s market value while utilizing other blockchain ecosystems, particularly Ethereum. This collaboration aims to “wrap” Bitcoin in a Smart Contract, which allows investors to associate with Decentralized Finance (DeFi) that operates on a different blockchain. This partnership brings together the best features of both worlds: the value and trustworthy nature of Bitcoin integrated with the flexibility and functionalities of Ethereum.

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Partnership Details and Benefits

Crypto.com’s vast will be leveraged by this collaboration, which will provide necessary support for 21BTC tokens. This platform also allows competitive fees and advanced trading technology, improving the efficiency of 21.co’s product.

Head of Strategy at 21.co, Eliezer Ndinga expressed the importance of combining 21BTC with crypto.com, stating that it will eventually improve accessibility for investors worldwide.

Ndinga stated:

“Crypto.com is one of the world’s largest digital assets exchanges serving over 100 million users globally. As one of the world’s largest issuers of crypto ETPs, 21.co brings asset management best practices and operational excellence to the world of wrapped assets.”

Looking Ahead:

With a major aim to improve liquidity for wrapped bitcoin, both companies have expressed plans to further expand their partnership. When crypto products are highly demanded, collaboration like this aims to streamline access and enhance liquidity for both retail and industrial traders across the globe.

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By joining forces 21. co and crypto.com are aiming for seamless, efficient, and effective Wrapped Bitcoin. This aims to make the crypto market available to a broader audience.

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