🦎🚀 A sign of things to come! 📈

Tuesday, January 2, 2024

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A Great Start to the New Year!

Bitcoin briefly surpassed the $45,000 mark on New Year's Day, a level unseen since April 2022.

This echoes the tumultuous pattern of January that year, where the cryptocurrency's price fluctuated above this threshold multiple times amid occasional plunges to as low as $36,000.

This time around, the prolonged anticipation of SEC approval for a Bitcoin spot ETF seems to be a major driving force behind the recent surge.

In other news, NFT traders are using their bags to offset capital gains taxes, Vitalik has shared an updated 2024 roadmap for Ethereum, and another bridge suffers a security breach.

Read on!

Most Popular Narratives of 2023

AI, GameFi and meme coins were the most popular narratives this year, capturing 30% of interest.

4 blockchain ecosystems ranked among the top 15 crypto narratives: Solana, BRC-20, Ethereum & Avalanche.

24h Hot Searches Worldwide 🔥

Coq Inu (-17.1%)
FEG (+17.8%)
Tectum (-4.0%)
WiFi Map (+1.1%)
Sei (+24.2%)
Zano (+4.6%)
Wagmi (+93.9%)

What are the on-chain metrics saying? Check out the best free on-chain indicators for Bitcoin in this video!

Watch now!

Another Use Case For NFTs

Many NFT owners are grappling with the dilemma of handling their seemingly "worthless" JPEGs.

One potential resolution involves facing these losses directly and leveraging them as a means to reduce tax liabilities.

Established last year, a startup named Unsellable has adopted a strategy of acquiring illiquid NFTs from disenchanted holders at a mere penny per piece, enabling owners to claim tax deductions for these assets.

Decrypt

The Road is Clear

Vitalik Buterin, the founder of Ethereum, has recently shared an updated roadmap for the blockchain, outlining key priorities for the ecosystem in 2024.

These priorities include the Merge (a robust proof-of-stake consensus), the Surge (a goal of 100,000 transactions per second across Ethereum and its Layer-2 networks), the Scourge (mitigating risks around MEV and liquid pooling), the Verge (easier block verification), the Purge (simplifying the protocol), and the Splurge (everything else).

The Block

Going Out of Orbit

The Orbit Bridge, a cross-chain protocol, has seen unusual outflows of $81.5 million across various cryptocurrencies, hinting at a major hack.

Five distinct transactions transferred significant amounts, funneling $50 million in stablecoins, 231 wBTC (equivalent to roughly $10 million), and 9,500 ETH (approximately $21.5 million) to different fresh wallets.

The suspicious activity was initially flagged by X user Kgjr.

The Block

Buidl Your Own AI Crypto Chatbot

Fortunately with drag-and-drop editors, advanced coding skills are no longer required to create an AI crypto chatbot based on a language learning model (LLM).

In this low-code, beginner friendly tutorial, we'll cover how to easily develop and deploy your own AI crypto chatbot with Flowise, OpenAI and CoinGecko API!

Learn more

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