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In This Article GLM Price Analysis: Golem Crypto's HTF Range Reveals Predictable Short-Term GainBest AI Crypto to Buy? MIND of Pepe AI Agent Continues Massive Multi-Million Raise In Biggest AI ICO of Q1, 2025 What is Golem Crypto? GLM crypto, a seemingly dead crypto project, could be the next big CTO as its price erupts +40%. But what is the best AI Crypto to buy in 2025?
Once the start-boy of the AI crypto scene – named a ‘top 10 crypto’ by CoinTelegraph, Golem crypto has fallen from grace over the past six months and made enemies, from selling off ETH wholesale last summer to the seemingly dead project social media accounts; for a long time, it has seemed like GLM crypto could be finished.
Like Render (RNDR), Golem crypto aims to facilitate the peer-to-peer leasing of spare unused computer power for needs such as generative AI or 3D model rendering – which, in theory, should have positioned the cryptocurrency to become one of the biggest winners of the AI trend.
Yet, indeed, the Golem crypto Twitter account hasn’t made a single post since December 5, 2024 (lost your password dev?) – so it’s easy to understand where things have fallen apart.
The last Tweet from @golemproject was more than 2 months ago, on Dec 5 and People are pumping this abandoned Project's token $GLM pic.twitter.com/DHOKr27dnN
— HarshVardhan Singh | HVS Ventures (@theHVS_) February 16, 2025
Yet, amid heightened appetite for AI in light of Trump’s $500Bn Stargate.Ai funding package, community efforts to take over and revive the project from silent despair appear to be underway amid a +40% pump for the GLM price.
Some Golem crypto holders are speculating that the pump is actually being accumulated by insiders with exclusive information about an upcoming major announcement—although anything substantive remains to be seen.
GLM Price Analysis: Golem Crypto’s HTF Range Reveals Predictable Short-Term Gain As GLM Price dominates the top gainers, Golem crypto currently trades at a market price of $0.36 (representing a 24-hour change of +39.88%).
This comes as GLM price blasts out of a 28-day accumulation period in the buy zone (green box), following the loss of 200DMA support on January 19.
(GLMUSDT)
The dramatic upside move has seen Golum crypto slam topside resistance at the historical $0.44 price level, yet, despite the volatility, GLM appears to be stabilizing back above the 200DMA support level, suggesting that the price could successfully consolidate the reversal.
Looking at the RSI, Golum’s key momentum indicator, a period of consolidation and cooling-off seems increasingly likely after such a seismic pump. However, this would be healthy for technical structure and would poise GLM for further gains.
Such a move could see Golem crypto continue its well-established 12-month range pattern, in which case it would seem strategic to target the lower end of the distribution zone at $0.66 (a potential +84% move from here).
But while Golem crypto defies all expectations on the short-term, smart money investors know CTOs are short-lived, and real value is unlocked in the early-bird investor stage – and for that reason, it’s worth shining a spotlight on another project many AI crypto analysts are labeling as the best AI crypto to buy in 2025.
Best AI Crypto to Buy? MIND of Pepe AI Agent Continues Massive Multi-Million Raise In Biggest AI ICO of Q1, 2025
MIND of Pepe truly has a mind of its own – it is an online personality in its own right, able to deliver a competitive edge for $MIND token holders.
It has taken $MIND barely a month to amass $6.35 million from contributors who probably realize that crypto and AI are a match made in heaven. The ability to program a token on a decentralized platform to interact autonomously with a self-sovereign agent has profound ramifications.
The MIND of Pepe AI agent interacts with decentralized applications (dApps), manages its own crypto wallet, and has intelligent bot accounts on X and Telegram. As a result of the advantages afforded by the deployment of next-generation Web3 technologies, it provides crypto market participants with actionable insights.
While a trading bot must be programmed by a human, MIND of Pepe does not require this.
MIND of Pepe will be able to develop its own trading strategies based on its analysis. It doesn’t just wait for certain pre-programmed conditions to appear to react. Instead, it can formulate what those conditions should be and respond accordingly.
For instance, it could monitor certain social media accounts of politicians in the ‘MAGAverse’ to see which one might be hinting at launching a meme coin and quickly spin up a token to get its own out first.
Two leading blockchain security firms, Coinsult and SolidProof, have rigorously audited the platform’s smart contract, providing investors with confidence against potential security threats.
Stay up-to-date with the vibrant MIND of Pepe community on X and Telegram.
Visit MIND of Pepe Here
EXPLORE: Solana Users to Claim a Massive $630 Million JUP Tokens in Jupiter Airdrop
Key Takeaways Golem Crypto Seemed Dead, With Golem X Account Inactive Since December 5. However, Rumors of a CTO or Inside Accumulation Have Seen GLM Price Blast Off From a 28 Day Accumulation Period. Analysts Call New AI Agent Crypto, MIND Of Pepe, Best AI Crypto to Buy After It Raised $6.3M In Skyrocketing Seed Round. #Presales
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Alex Ioannou
On-Chain Journalist
Alex is a seasoned cryptocurrency trader and market analyst with over seven years of active experience in the digital asset space. Since entering the markets in 2017, Alex has specialized in identifying emerging "meta" trends and high-volatility narratives. Notably, Alex... Read More
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Golem resurfaced with a 40% price surge, sparking speculation about its future. Is this a long-awaited comeback or another speculative rally? Golem [GLM], once a pioneer in decentralized computing, has resurfaced with a sudden 40% price surge, catapulting it back into the spotlight.
This revival has sparked speculation about its future—could this mark the start of a long-awaited comeback, or is it just another speculative rally?
AI crypto resurgence: Golem’s unexpected comeback Amid excitement in the AI crypto market, Golem, once hailed as a top AI cryptocurrency, has made an astonishing return with a 40% price surge.
This sudden revival has sparked debate. Is this a new chapter for Golem, or just another speculative pump driven by insider accumulation?
While Golem’s social media presence has been virtually non-existent since December 2024, recent community-driven efforts suggest the project might still have some fight left in it.
Golem crypto: Why was it left for dead? Golem was created to revolutionize computing by allowing users to lease unused processing power through a decentralized network, similar to Render [RNDR]. This positioned Golem as a promising player in AI and 3D rendering.
However, the development team offloaded large amounts of ETH last summer, and then they went silent in their communications. This shifted GLM’s trajectory.
The lack of updates and a stagnant roadmap led many to believe that Golem had met its end.
Speculation or sustainable growth? Golem’s next move is… Golem’s 40% price surge reignited excitement, but the sharp pullback that followed raises doubts about its sustainability. The RSI briefly hit overbought levels before cooling to 55.49, suggesting the surge may have been speculative.
Meanwhile, the OBV indicates a surge in trading volume, hinting at whale activity behind the price movement.
Source: TradingView Despite this surge, Golem faces significant competition from more established AI-focused projects like Render, Ocean Protocol (OCEAN), and Artificial Superintelligence Alliance Price Prediction’s [FET].
These projects boast stronger development and adoption. For Golem to regain relevance, it will need renewed innovation, communication, and community engagement.
Without clear updates from its team, the rally could be short-lived. Investors seeking long-term AI crypto opportunities may want to look elsewhere unless Golem can prove it’s staging a true comeback.
In This Article Details of Golem Crypto $13.36M Ethereum Transfer, Best New Crypto to Buy?Broader Implications for Ethereum, AI, and Golem CryptoWhat’s Next for Golem Crypto?Best New Crypto to Buy? Mind of Pepe Could Be the Next Big AI Crypto Agent Coin Golem Crypto Network (GLM) is stirring the pot again, begging the question of whether it is the best new crypto to buy. It offloads a hefty chunk of Ethereum (ETH) to major exchanges.
Once a darling of the Ethereum ICO boom, its latest maneuvers are raising eyebrows across the crypto community.
Details of Golem Crypto $13.36M Ethereum Transfer, Best New Crypto to Buy? On February 20, Golem moved $13.36 million in Ethereum—4,850 ETH—to exchanges in a series of nine transactions. Binance took 3,800 ETH worth $10.47 million, with another 1,050 ETH ($2.89 million) flowing into Coinbase.
Ethereum prices wavered during the transaction window, briefly dipping from $2,764 to $2,708 before regaining ground near $2,756. It’s Golem’s largest ETH transfer in months, following a 2,000-ETH sale in September 2024.
Can someone please explain to me why @golemproject – a dinosaur of the 2017 ICO era is up 30% right now? $GLM pic.twitter.com/EWCEbo8dWF
— Genia🔮 (@Genia_XBT) February 23, 2025
A peak-era Ethereum ICO powerhouse, Golem rode off with 820,000 ETH in 2016—now a jaw-dropping $2.26 billion in value.
The frequency and scale of Golem’s Ethereum sell-offs have raised eyebrows in the crypto community. Many wonder whether this strategy hints at financial struggles or a lack of long-term commitment to holding ETH.
Broader Implications for Ethereum, AI, and Golem Crypto Large token transfers to exchanges often hint at sell-offs, rattling markets in their wake. Golem’s recent transactions caused Ethereum to wobble, briefly dropping before finding its footing again.
Yet, the event underscores a lingering reality—ICO-era giants like Golem still wield outsized influence.
(X) Golem, once lauded as a pioneer in decentralized computing, now struggles to stay relevant. Billed as crypto’s solution for leasing idle computing power for tasks like 3D rendering and AI projects, the platform has drifted into obscurity.
Social media silence since December 2024 hasn’t helped, further fueling doubts about whether the project’s engine is still running.
Despite these challenges, Golem’s GLM token recently made a surprising 40% price leap, trading at $0.36 after months of stagnation. 99Bitcoin’s analysts attribute this pump to growing interest in AI-related cryptos and community efforts to revive the project.
What’s Next for Golem Crypto? From a technical perspective, GLM’s recent price surge may provide short-term optimism for holders. The token exited a tight 28-day accumulation zone to climb toward the $0.44 resistance level, though analysts warn that consolidation is likely following the significant pump.
GLM’s position above the 200-day moving average and a bullish RSI suggest room for more upward momentum. Yet, the real challenge for Golem hinges on recapturing the attention of developers and users in a crypto landscape that changes by the minute.
The project’s next moves—whether a technological update or renewed efforts to energize its community—will likely determine its future relevance.
Best New Crypto to Buy? Mind of Pepe Could Be the Next Big AI Crypto Agent Coin
MIND of Pepe ($MIND) could be a stroke of brilliance or the madness the crypto deserves. Or why not both? Touted as the first AI meme coin, it’s a self-governing token that merges blockchain tech with artificial intelligence. But forget hype for a moment; MIND has real utility.
The mind of Pepe digests trading data, serves it back to holders as real insights, and self-generates new tokens and social media content.
Unsurprisingly, $MIND has raked in $7 million during its presale, priced at $0.0033857 a token. The coin has locked up 10% of its total supply, riding Ethereum’s blockchain as an ERC-20 token and accepting payments in ETH, USDT, or BNB
Here’s the TL;DR for this presale:
Raised: $6.8 million Blockchain: Ethereum Token type: ERC-20 Token price: $0.0033587 Accepted payments: ETH, USDT, BNB, Card Don’t Psych Yourself Out! Get in on $MIND of Pepe Right NOW
EXPLORE: The History Books Will Remember Crypto 2025: But What’s The Best New Crypto to Buy?
Join The 99Bitcoins News Discord Here For The Latest Market Updates
Key Takeaways Golem Crypto is offloading a hefty chunk of Ethereum ($ETH) to major exchanges. Is it the best new crypto to buy? Many wonder whether this strategy hints at financial struggles or a lack of long-term commitment to holding ETH. Golem exited a tight 28-day accumulation zone to climb toward the $0.44 resistance level. #Presales
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Isaiah Mccall
99BTC Japan Correspondent
Isaiah McCall is an ultramarathon runner and Japan Correspondent for 99Bitcoins. He started at USAToday in 2019 and now has a Medium blog following of 30k+ and millions of views. Follow him at @AfroReporter Read More
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Industry experts predict that the Strategic Ethereum Reserve (SER), which tracks entities holding Ethereum (ETH) in their treasuries, could surpass 10 million ETH by May 2026.
This would represent an increase of approximately 1,166.3% from the current holdings, reflecting a continued accumulation trend and growing confidence in Ethereum as a store of value.
Strategic Ethereum Reserve Poised to Hit 10 Million ETHAccording to the latest data from the SER website, the reserve currently holds 789,705 ETH, spread across 23 active participants, including major institutions and governments. It represents a collective effort by various entities to stockpile ETH over time.
The Ethereum Foundation leads with 265,343 ETH, followed by Coinbase with 137,334 ETH. Other notable entities include Golem Foundation (100,765 ETH), Gnosis DAO (66,587 ETH), the US Government (59,965 ETH), and others. At current prices, the total holdings are valued at approximately $2.1 billion.
Notably, Anthony Sassano, founder of The Daily Gwei, expressed strong confidence in the SER’s growth trajectory. In a statement on X, Sassano predicted that the reserve could surpass 10 million ETH by May 2026.
“Today, it’s under 1 million ETH in the reserve. In a years time, I bet it’s firmly over 10 million ETH in the reserve. The gold rush for ETH is going to be absolutely insane,” Sassano predicted.
Similarly, another analyst echoed this sentiment, labeling the SER a “black hole for ETH.” He anticipates that protocols, decentralized autonomous organizations (DAOs), treasuries, and Layer 2 solutions will increasingly compete to stake, restake, and accumulate ETH, potentially locking up over 10 million ETH in the coming years.
“This is how a monetary asset goes parabolic slowly, then all at once,” the analyst said.
Meanwhile, Ethereum proponent Shingen referenced a recent essay on SER. He noted that the reserve is still in its early stages with limited participation, but highlighted the essay’s narrative-building potential.
“It’s just the beginning, the amount is small, and it’s just a definition of what was originally an individual movement, but when you read this article, it’s written in a very emotional way, and when you think about it, it’s quite important in terms of creating a narrative. It’s also good that it’s not centered around listed companies,” Shingen wrote.
In the essay, the author reflected on how the Strategic Ethereum Reserve impacts the Ethereum ecosystem. The author emphasized that SER strengthens security by increasing staked ETH, making attacks more costly, and stabilizing ETH’s price.
It also promotes decentralization in staking, reducing reliance on centralized services. Additionally, SER encourages DAOs to hold ETH long-term, fostering more stable financial strategies and a stronger Ethereum ecosystem.
Nonetheless, it also raises concerns about centralization, market instability from large holders, and regulatory challenges for corporate participants. According to the author, greater transparency, improved governance, and regulatory clarity are needed to ensure long-term success.
The growing momentum behind an Ethereum reserve comes as ETH continues its latest price rally. On May 13, the altcoin briefly surged past the $2,700 mark, marking highs last seen on February 24.
ETH Price Performance. Source: TradingViewBeInCrypto data showed that ETH’s value appreciated 43.1% over the past week. At the time of writing, it was trading at $2,636, representing daily gains of 7.3%.
Through this agreement, a functional test is being conducted with the purpose of determining whether or not DePIN protocols, namely Golem, are capable of supporting the diverse range of client and workload profiles. After seeing the maturation of the prospects presented by Web3, Salad started examining the different DePIN protocols in the third quarter of 2025. Golem Network, which is one of the first decentralized computing protocols, and Salad.com, which is an established GPU Cloud Platform that is powered by worldwide distributed infrastructure, have announced that they would be working together. Through the use of Golem’s Web3 infrastructure, this cooperation will determine whether or not it is possible to satisfy Salad’s current need for computing resources.
In the first step of an engineering test, Salad plans to make use of Golem’s permissionless execution layer in order to “mirror” and map a portion of its present commercial activity. This activity will include the whole spectrum of Salad’s cloud computing goods and services. Through this agreement, a functional test is being conducted with the purpose of determining whether or not DePIN protocols, namely Golem, are capable of supporting the diverse range of client and workload profiles that are presently employing Salad’s cloud infrastructure.
For the purpose of enabling client payments and the distribution of incentives to its network of infrastructure providers, Salad currently depends on a stack of centralized services. Salad’s software stack, which includes conventional payment processors, usage-based billing systems, and incentive suppliers, represents a substantial amount of complexity and operational expense. Salad has a worldwide presence that includes both clients and computing providers. It is possible that Salad’s goods and services may see large efficiency advantages if they were to include crypto payments and a permissionless compute-execution layer, which is comparable to what Golem Network provides.
Bob Miles, CEO of salad.com, added:
“By pairing Salad’s globally distributed infrastructure with Golem’s decentralized compute layer, we’re exploring how customer workloads, revenue, and our extensive rewards program can flow through DePIN. I first read the Golem whitepaper in 2017, and this collaboration reflects a shared vision of making advanced computational power more accessible by enabling millions of individuals to contribute underutilized devices.
This initial test phase aims to demonstrate whether Web3 can enhance centralized cloud platforms with greater efficiency and openness, while helping us understand how Salad’s margin profile could fit into a sustainable tokenomics model as we scale mirrored traffic through Golem Network.”
Through this partnership, the goal is to demonstrate that a conventional Web2 company like Salad is capable of integrating with a permissionless and decentralized protocol like the Golem Network. Through the course of the test, fundamental components, such as the decentralized marketplace and settlement infrastructure, will be evaluated to see how they may provide Salad with a platform for value exchange that is both more transparent and more cost-effective.
Paweł Burgchardt, CPO of Golem Network, commented:
“Our collaboration with Salad allows us to explore how Golem’s protocol can integrate with complementary marketplaces for computational resources. The insights gained from this experiment will help us refine Golem’s SDK and strengthen support for future integrations.”
After seeing the maturation of the prospects presented by Web3, Salad started examining the different DePIN protocols in the third quarter of 2025. Initial testing have provided substantial insights for Salad’s technical team, and Golem Network was the platform that gave the closest match to Salad’s current infrastructure.
Kyle Dodson, Salad’s CTO, shares:
“The architecture provided by Golem, connecting compute requestors and compute providers via a decentralized protocol, has significant overlap with how Salad’s platform operates today. As Salad works towards supporting a frequently requested feature, crypto payments, I am excited to collaborate with the Golem team to further enhance the efficiency of both cost and the compute-orchestration of our platform.”
Salad and Golem Network are both working toward the same objective, which is to make accelerated computing power more accessible to a wider audience. For example, in silico drug development simulations, artificial intelligence inference, and 3D rendering are only some of the workload profiles that are supported by both systems.
The purpose of this alliance is to demonstrate how Web2 and Web3-based markets, which have historically been kept separate, may be connected. This will allow participants to take use of characteristics that complement one another while also setting the framework for future resource-sharing across networks that are now compartmentalized.
As the Salad and Golem teams continue to collaborate on this engineering test, more engineering and product updates that are more specific will be disclosed and made accessible on salad.com and golem.network respectively.
The Golem Network is a decentralized network that is open-source and provides a marketplace for anyone to purchase computational resources and services. Golem’s permissionless protocol makes it possible for anybody to join the network by either contributing their resources to the network or exchanging those resources for GLM tokens.
Salad is the biggest cloud platform in the world, and it is supported by infrastructure that is scattered around the globe. Salad, which has been in business for eight years, provides help to a diverse variety of clients, ranging from AI Startups to Fortune 500 Enterprise Organizations that are listed. With Salad’s application, individuals and datacenters alike are able to share idle processing resources, so transforming unused hardware into valuable incentives. Salad is able to power cutting-edge computing applications at a cost that is far lower than that of hyperscale providers. Salad has thousands of current customers who are actively executing production workloads across tens of thousands of machines.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
Salad.com and Golem Network have partnered to test whether decentralized web3 compute infrastructure can reliably support and enhance Salad’s existing global GPU cloud workloads.
Salad.com, a GPU Cloud Platform powered by globally distributed infrastructure, and Golem Network, one of the first decentralized computing protocols, have announced a partnership. This collaboration will evaluate the feasibility of meeting Salad’s existing computational demand using Golem’s web3 infrastructure.
As part of an engineering test, Salad first intends to utilize Golem’s permissionless execution layer to ‘mirror’ and map a portion of its existing commercial activity, spanning the range of Salad’s cloud computing products and services. This partnership serves as a functional test designed to verify that DePIN protocols, in this case Golem, can support the breadth of customer and workload profiles currently utilizing Salad’s cloud infrastructure.
Today, Salad relies on a stack of centralized services for facilitating customer payments and the delivery of rewards to its network of infrastructure providers. With a global footprint of both customers and compute providers, Salad’s software stack of traditional payment processors, usage-based billing platforms and reward suppliers represents significant complexity and operational overhead. Crypto payments and a permissionless compute-execution layer, similar to that offered by Golem Network, may deliver significant efficiency gains for Salad’s products and services.
This collaboration seeks to validate how a traditional web2 business like Salad can integrate with a permissionless and decentralized protocol, such as the Golem Network. The test will evaluate core components, including the decentralized marketplace and settlement infrastructure, and how they could offer Salad a more cost-efficient and transparent platform for value exchange.
Salad and Golem Network share a similar goal of making accelerated computational power more widely accessible. Both platforms support a range of workload profiles, from in silico drug-discovery simulations, AI inference, to 3D rendering.
This partnership aims to show how traditionally separate web2 and web3-based marketplaces can be integrated, enabling participants to benefit from complementary capabilities while laying the groundwork for future resource-sharing across currently siloed networks.
Disclosure: This content is provided by a third party. Neither crypto.news nor the author of this article endorses any product mentioned on this page. Users should conduct their own research before taking any action related to the company.
PANews reported on January 16th that, according to SoSoValue data, the cryptocurrency market sector declined for the second consecutive day. The DePIN sector led the decline with a 4.22% drop in the past 24 hours. Within the sector, Filecoin (FIL) fell 8.55%, and Golem (GLM) fell 10.07%. Additionally, Bitcoin (BTC) fell 0.74%, dropping below $95,000, while Ethereum (ETH) remained relatively resilient, declining 0.21% and still hovering around $3,300.
In other sectors, the CeFi sector fell 0.37% in the last 24 hours, but NEXO (NEXO) rose 1.13%; the Layer 1 sector fell 1.32%, while TRON (TRX) rose 2.30% intraday; the PayFi sector fell 2.11%, while Dash (DASH) bucked the trend and rose 3.50%; the Layer 2 sector fell 2.52%, while Mantle (MNT) rose 0.99%; the DeFi sector fell 2.59%, while River (RIVER) still rose significantly by 8.12%; and the Meme sector fell 2.93%, while MemeCore (M) rose 1.65%.
Circle partners with Nomura Securities to enter the Japanese yen foreign exchange settlement service market.
Stablecoin issuer Circle plans to collaborate with Nomura Securities to launch instant foreign currency settlement for Japanese corporate clients as early as 2027. The initiative will enable large cross-border transactions to be completed immediately, aiming to boost cross-border investment and trade. This will mark the first entry of a major stablecoin issuer into Japan’s corporate transaction market, allowing companies to convert yen into US dollar-denominated stablecoins for investment and instant transfers.
13 minutes ago
Institutions' Preview: Overview of US May Core PCE Price Index Monthly Rate
The US May core Personal Consumption Expenditures (PCE) Price Index monthly rate will be released tonight at 20:30 (UTC+8). Below are the forecasts from multiple institutions: Sumitomo Mitsui Banking Corporation: 0.2%; Royal Bank of Canada: 0.2%; JPMorgan Chase: 0.3%; Goldman Sachs Group: 0.3%; Bank of Montreal: 0.3%; Moody's Corporation: 0.3%; Standard Chartered: 0.3%; UniCredit: 0.3%; ING Group: 0.3%; HSBC Holdings: 0.3%; BNP Paribas: 0.4%; Wells Fargo: 0.4%; Capital Economics: 0.4%; Citigroup: 0.4%; Deutsche Bank: 0.4%; Nomura Securities: 0.4%; Pantheon Macroeconomics: 0.4%; Société Générale: 0.4%; Scotiabank: 0.4%; Morgan Stanley: 0.4%
13 minutes ago
DA Davidson Raises Micron’s Price Target to $2,000, Retains Buy Rating
U.S. investment bank DA Davidson released a research note stating that Micron Technology has entered a new phase with one of the best performance visibility in the semiconductor industry, a stark contrast to its past standing in the sector. Driven by another quarter of results that handily exceeded expectations and positive forward guidance, Micron’s stock price surged sharply. These signals indicate that the current memory chip boom cycle is far from over. While the company is ramping up capacity investments (with capital expenditure (CAPEX) projected to hit $10 billion in the fourth quarter of fiscal 2026, which will bring additional supply), management expects the memory market to remain tight on supply and demand at least through 2027. Against this backdrop, DA Davidson reiterated its "Buy" rating on Micron and raised its price target from $1,500 to $2,000, equivalent to a 20x price-to-earnings (P/E) ratio based on the company’s 2026 calendar year expected earnings per share (EPS).
13 minutes ago
Morgan Stanley raises Micron's price target to $1,200, maintains 'Overweight' rating.
Morgan Stanley released a report raising Micron Technology (MU.O)’s price target from $1,050 to $1,200, while maintaining an "Overweight" rating. The investment bank lifted its fiscal 2027 earnings per share (EPS) forecast for the chipmaker by roughly 40% to $168, and upgraded its free cash flow (FCF) projection from $104 billion to $140 billion. Aligning with Micron’s management, the bank holds that AI will push DRAM demand to consistently outpace supply significantly after 2027. Micron’s last fiscal quarter results matched this trend, with both its quarterly performance and outlook showing notable upside potential.
13 minutes ago
US officials: Israel has withdrawn troops from parts of the buffer zone in southern Lebanon.
A U.S. State Department official said Israel has withdrawn from parts of the buffer zone in southern Lebanon, describing the move as a "goodwill gesture" toward the Lebanese government.
13 minutes ago
CBRS trades below IPO price post-earnings: Erases all gains six weeks after listing, two smart money firms net $5.8 million from first-day IPO shorts.
According to Hyperinsight monitoring, Cerebras (CBRS), the AI chip firm previously dubbed "Nvidia’s strongest challenger", saw its stock price fall in stages after reporting its first quarterly results since going public, as negative guidance overshadowed better-than-expected performance. The stock has dropped roughly 22% since the earnings release and officially broke below its IPO price today. On-chain whales are overall bearish. CBRS trades at $184 on the Hyperliquid platform, down 7.7% in 24 hours. Large-scale short positions (million-dollar level) total around $11.62 million, 2.39 times the long positions ($4.87 million). Two major short positions were placed precisely at high levels as early as the IPO day or even before the IPO: - Whale 0xe0ff: Shorted at $284.51 on May 14 with a 3x leveraged position of $6.13 million, generating an unrealized profit of $3.24 million (+104%); - Whale 0x9996: Shorted at $275.92 on May 11 with a 5x leveraged position of $5.48 million, generating an unrealized profit of $2.64 million (+162%). It is learned that both addresses currently hold short positions in both CBRS and SPCX, and have recorded substantial unrealized profits, preferring to place short positions at high levels before or on the day of major stock listings. With the realization of negative earnings news in this round, the combined unrealized profit of the two positions is around $5.88 million. Currently, the average entry price of CBRS short whales is around $275, and the current price is over 30% lower than that. The nearest short liquidation line is at $200.13, about 7% away from the current price.
Circle partners with Nomura Securities to enter the Japanese yen foreign exchange settlement service market.
Stablecoin issuer Circle plans to collaborate with Nomura Securities to launch instant foreign currency settlement for Japanese corporate clients as early as 2027. The initiative will enable large cross-border transactions to be completed immediately, aiming to boost cross-border investment and trade. This will mark the first entry of a major stablecoin issuer into Japan’s corporate transaction market, allowing companies to convert yen into US dollar-denominated stablecoins for investment and instant transfers.
13 minutes ago
Institutions' Preview: Overview of US May Core PCE Price Index Monthly Rate
The US May core Personal Consumption Expenditures (PCE) Price Index monthly rate will be released tonight at 20:30 (UTC+8). Below are the forecasts from multiple institutions: Sumitomo Mitsui Banking Corporation: 0.2%; Royal Bank of Canada: 0.2%; JPMorgan Chase: 0.3%; Goldman Sachs Group: 0.3%; Bank of Montreal: 0.3%; Moody's Corporation: 0.3%; Standard Chartered: 0.3%; UniCredit: 0.3%; ING Group: 0.3%; HSBC Holdings: 0.3%; BNP Paribas: 0.4%; Wells Fargo: 0.4%; Capital Economics: 0.4%; Citigroup: 0.4%; Deutsche Bank: 0.4%; Nomura Securities: 0.4%; Pantheon Macroeconomics: 0.4%; Société Générale: 0.4%; Scotiabank: 0.4%; Morgan Stanley: 0.4%
13 minutes ago
DA Davidson Raises Micron’s Price Target to $2,000, Retains Buy Rating
U.S. investment bank DA Davidson released a research note stating that Micron Technology has entered a new phase with one of the best performance visibility in the semiconductor industry, a stark contrast to its past standing in the sector. Driven by another quarter of results that handily exceeded expectations and positive forward guidance, Micron’s stock price surged sharply. These signals indicate that the current memory chip boom cycle is far from over. While the company is ramping up capacity investments (with capital expenditure (CAPEX) projected to hit $10 billion in the fourth quarter of fiscal 2026, which will bring additional supply), management expects the memory market to remain tight on supply and demand at least through 2027. Against this backdrop, DA Davidson reiterated its "Buy" rating on Micron and raised its price target from $1,500 to $2,000, equivalent to a 20x price-to-earnings (P/E) ratio based on the company’s 2026 calendar year expected earnings per share (EPS).
13 minutes ago
Morgan Stanley raises Micron's price target to $1,200, maintains 'Overweight' rating.
Morgan Stanley released a report raising Micron Technology (MU.O)’s price target from $1,050 to $1,200, while maintaining an "Overweight" rating. The investment bank lifted its fiscal 2027 earnings per share (EPS) forecast for the chipmaker by roughly 40% to $168, and upgraded its free cash flow (FCF) projection from $104 billion to $140 billion. Aligning with Micron’s management, the bank holds that AI will push DRAM demand to consistently outpace supply significantly after 2027. Micron’s last fiscal quarter results matched this trend, with both its quarterly performance and outlook showing notable upside potential.
13 minutes ago
US officials: Israel has withdrawn troops from parts of the buffer zone in southern Lebanon.
A U.S. State Department official said Israel has withdrawn from parts of the buffer zone in southern Lebanon, describing the move as a "goodwill gesture" toward the Lebanese government.
13 minutes ago
CBRS trades below IPO price post-earnings: Erases all gains six weeks after listing, two smart money firms net $5.8 million from first-day IPO shorts.
According to Hyperinsight monitoring, Cerebras (CBRS), the AI chip firm previously dubbed "Nvidia’s strongest challenger", saw its stock price fall in stages after reporting its first quarterly results since going public, as negative guidance overshadowed better-than-expected performance. The stock has dropped roughly 22% since the earnings release and officially broke below its IPO price today. On-chain whales are overall bearish. CBRS trades at $184 on the Hyperliquid platform, down 7.7% in 24 hours. Large-scale short positions (million-dollar level) total around $11.62 million, 2.39 times the long positions ($4.87 million). Two major short positions were placed precisely at high levels as early as the IPO day or even before the IPO: - Whale 0xe0ff: Shorted at $284.51 on May 14 with a 3x leveraged position of $6.13 million, generating an unrealized profit of $3.24 million (+104%); - Whale 0x9996: Shorted at $275.92 on May 11 with a 5x leveraged position of $5.48 million, generating an unrealized profit of $2.64 million (+162%). It is learned that both addresses currently hold short positions in both CBRS and SPCX, and have recorded substantial unrealized profits, preferring to place short positions at high levels before or on the day of major stock listings. With the realization of negative earnings news in this round, the combined unrealized profit of the two positions is around $5.88 million. Currently, the average entry price of CBRS short whales is around $275, and the current price is over 30% lower than that. The nearest short liquidation line is at $200.13, about 7% away from the current price.
The KelpDAO exploit has rattled confidence in decentralized finance (DeFi) and sparked a capital exodus, dragging total value locked across the sector from $99.5 billion to $83.7 billion since April 18.
Aave is now spearheading a “DeFi United” effort, with support from major protocols, to restore the backing of rsETH, the liquid restaking token at the center of the crisis.
Stani Kulechov Pledges 5,000 ETH Personally as Aave’s DeFi United Takes ShapeOn April 18, attackers drained 116,500 rsETH, worth roughly $292 million, from KelpDAO’s cross-chain bridge. The stolen tokens were then deposited as collateral on Aave V3, where the hacker borrowed large volumes of Wrapped Ether (WETH) against them.
Because the rsETH became unbacked, the positions are effectively unliquidatable, leaving Aave with bad debt.
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Panic withdrawals followed. Aave’s total deposits dropped from $45.8 billion to $28.6 billion, marking a $17.2 billion decline. According to LayerZero, early data points to the Lazarus Group’s TraderTraitor as the likely party responsible for the biggest DeFi hack of 2026.
In an X post, Aave said several firm indicative commitments have been lined up from participants willing to help restore rsETH’s backing. Lido Finance has submitted a proposal to contribute up to 2,500 staked ether (stETH) to a dedicated relief vehicle.
Mantle Treasury followed with its own proposal to lend up to 30,000 ETH to Aave DAO. Aave founder Stani Kulechov personally committed 5,000 ETH.
“Aave is my life’s work and we’re working nonstop to find the best possible outcome for users. I’m personally contributing 5000 ETH to DeFi United as we continue working together with partners on formalizing more commitments. I’m working to see this resolved and market conditions normalized as soon as possible,” Kulechov wrote.
EtherFi Foundation proposed another 5,000 ETH, and Golem contributed 1,000 ETH. The initiative has also received support from Ethena, LayerZero, Tydro, the Ink Foundation, Frax Finance, and more.
Aave also paused rsETH reserves across Ethereum Core, Arbitrum, Base, Mantle, and Linea to support recovery.
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Circle partners with Nomura Securities to enter the Japanese yen foreign exchange settlement service market.
Stablecoin issuer Circle plans to collaborate with Nomura Securities to launch instant foreign currency settlement for Japanese corporate clients as early as 2027. The initiative will enable large cross-border transactions to be completed immediately, aiming to boost cross-border investment and trade. This will mark the first entry of a major stablecoin issuer into Japan’s corporate transaction market, allowing companies to convert yen into US dollar-denominated stablecoins for investment and instant transfers.
13 minutes ago
Institutions' Preview: Overview of US May Core PCE Price Index Monthly Rate
The US May core Personal Consumption Expenditures (PCE) Price Index monthly rate will be released tonight at 20:30 (UTC+8). Below are the forecasts from multiple institutions: Sumitomo Mitsui Banking Corporation: 0.2%; Royal Bank of Canada: 0.2%; JPMorgan Chase: 0.3%; Goldman Sachs Group: 0.3%; Bank of Montreal: 0.3%; Moody's Corporation: 0.3%; Standard Chartered: 0.3%; UniCredit: 0.3%; ING Group: 0.3%; HSBC Holdings: 0.3%; BNP Paribas: 0.4%; Wells Fargo: 0.4%; Capital Economics: 0.4%; Citigroup: 0.4%; Deutsche Bank: 0.4%; Nomura Securities: 0.4%; Pantheon Macroeconomics: 0.4%; Société Générale: 0.4%; Scotiabank: 0.4%; Morgan Stanley: 0.4%
13 minutes ago
DA Davidson Raises Micron’s Price Target to $2,000, Retains Buy Rating
U.S. investment bank DA Davidson released a research note stating that Micron Technology has entered a new phase with one of the best performance visibility in the semiconductor industry, a stark contrast to its past standing in the sector. Driven by another quarter of results that handily exceeded expectations and positive forward guidance, Micron’s stock price surged sharply. These signals indicate that the current memory chip boom cycle is far from over. While the company is ramping up capacity investments (with capital expenditure (CAPEX) projected to hit $10 billion in the fourth quarter of fiscal 2026, which will bring additional supply), management expects the memory market to remain tight on supply and demand at least through 2027. Against this backdrop, DA Davidson reiterated its "Buy" rating on Micron and raised its price target from $1,500 to $2,000, equivalent to a 20x price-to-earnings (P/E) ratio based on the company’s 2026 calendar year expected earnings per share (EPS).
13 minutes ago
Morgan Stanley raises Micron's price target to $1,200, maintains 'Overweight' rating.
Morgan Stanley released a report raising Micron Technology (MU.O)’s price target from $1,050 to $1,200, while maintaining an "Overweight" rating. The investment bank lifted its fiscal 2027 earnings per share (EPS) forecast for the chipmaker by roughly 40% to $168, and upgraded its free cash flow (FCF) projection from $104 billion to $140 billion. Aligning with Micron’s management, the bank holds that AI will push DRAM demand to consistently outpace supply significantly after 2027. Micron’s last fiscal quarter results matched this trend, with both its quarterly performance and outlook showing notable upside potential.
13 minutes ago
US officials: Israel has withdrawn troops from parts of the buffer zone in southern Lebanon.
A U.S. State Department official said Israel has withdrawn from parts of the buffer zone in southern Lebanon, describing the move as a "goodwill gesture" toward the Lebanese government.
13 minutes ago
CBRS trades below IPO price post-earnings: Erases all gains six weeks after listing, two smart money firms net $5.8 million from first-day IPO shorts.
According to Hyperinsight monitoring, Cerebras (CBRS), the AI chip firm previously dubbed "Nvidia’s strongest challenger", saw its stock price fall in stages after reporting its first quarterly results since going public, as negative guidance overshadowed better-than-expected performance. The stock has dropped roughly 22% since the earnings release and officially broke below its IPO price today. On-chain whales are overall bearish. CBRS trades at $184 on the Hyperliquid platform, down 7.7% in 24 hours. Large-scale short positions (million-dollar level) total around $11.62 million, 2.39 times the long positions ($4.87 million). Two major short positions were placed precisely at high levels as early as the IPO day or even before the IPO: - Whale 0xe0ff: Shorted at $284.51 on May 14 with a 3x leveraged position of $6.13 million, generating an unrealized profit of $3.24 million (+104%); - Whale 0x9996: Shorted at $275.92 on May 11 with a 5x leveraged position of $5.48 million, generating an unrealized profit of $2.64 million (+162%). It is learned that both addresses currently hold short positions in both CBRS and SPCX, and have recorded substantial unrealized profits, preferring to place short positions at high levels before or on the day of major stock listings. With the realization of negative earnings news in this round, the combined unrealized profit of the two positions is around $5.88 million. Currently, the average entry price of CBRS short whales is around $275, and the current price is over 30% lower than that. The nearest short liquidation line is at $200.13, about 7% away from the current price.
PANews reported on April 24th that, according to an announcement from the official KelpDAO X account, since April 18th, Kelp has been closely coordinating with Aave and its ecosystem partners to advance the recovery plan for rsETH holders. The initial shortfall was 163,200 ETH; Kelp has recovered 40,300 rsETH (approximately 43,000 ETH), and the Arbitrum Security Council has recovered 30,700 ETH, leaving a remaining shortfall of approximately 89,500 ETH. Confirmed public commitments include contributions of 43,500 ETH from Mantle, Aave founder Stani Kulechov, EtherFi, Lido, Golem, and others. Kelp stated that rsETH holders are the top priority and will continue to release updates.
Circle partners with Nomura Securities to enter the Japanese yen foreign exchange settlement service market.
Stablecoin issuer Circle plans to collaborate with Nomura Securities to launch instant foreign currency settlement for Japanese corporate clients as early as 2027. The initiative will enable large cross-border transactions to be completed immediately, aiming to boost cross-border investment and trade. This will mark the first entry of a major stablecoin issuer into Japan’s corporate transaction market, allowing companies to convert yen into US dollar-denominated stablecoins for investment and instant transfers.
13 minutes ago
Institutions' Preview: Overview of US May Core PCE Price Index Monthly Rate
The US May core Personal Consumption Expenditures (PCE) Price Index monthly rate will be released tonight at 20:30 (UTC+8). Below are the forecasts from multiple institutions: Sumitomo Mitsui Banking Corporation: 0.2%; Royal Bank of Canada: 0.2%; JPMorgan Chase: 0.3%; Goldman Sachs Group: 0.3%; Bank of Montreal: 0.3%; Moody's Corporation: 0.3%; Standard Chartered: 0.3%; UniCredit: 0.3%; ING Group: 0.3%; HSBC Holdings: 0.3%; BNP Paribas: 0.4%; Wells Fargo: 0.4%; Capital Economics: 0.4%; Citigroup: 0.4%; Deutsche Bank: 0.4%; Nomura Securities: 0.4%; Pantheon Macroeconomics: 0.4%; Société Générale: 0.4%; Scotiabank: 0.4%; Morgan Stanley: 0.4%
13 minutes ago
DA Davidson Raises Micron’s Price Target to $2,000, Retains Buy Rating
U.S. investment bank DA Davidson released a research note stating that Micron Technology has entered a new phase with one of the best performance visibility in the semiconductor industry, a stark contrast to its past standing in the sector. Driven by another quarter of results that handily exceeded expectations and positive forward guidance, Micron’s stock price surged sharply. These signals indicate that the current memory chip boom cycle is far from over. While the company is ramping up capacity investments (with capital expenditure (CAPEX) projected to hit $10 billion in the fourth quarter of fiscal 2026, which will bring additional supply), management expects the memory market to remain tight on supply and demand at least through 2027. Against this backdrop, DA Davidson reiterated its "Buy" rating on Micron and raised its price target from $1,500 to $2,000, equivalent to a 20x price-to-earnings (P/E) ratio based on the company’s 2026 calendar year expected earnings per share (EPS).
13 minutes ago
Morgan Stanley raises Micron's price target to $1,200, maintains 'Overweight' rating.
Morgan Stanley released a report raising Micron Technology (MU.O)’s price target from $1,050 to $1,200, while maintaining an "Overweight" rating. The investment bank lifted its fiscal 2027 earnings per share (EPS) forecast for the chipmaker by roughly 40% to $168, and upgraded its free cash flow (FCF) projection from $104 billion to $140 billion. Aligning with Micron’s management, the bank holds that AI will push DRAM demand to consistently outpace supply significantly after 2027. Micron’s last fiscal quarter results matched this trend, with both its quarterly performance and outlook showing notable upside potential.
13 minutes ago
US officials: Israel has withdrawn troops from parts of the buffer zone in southern Lebanon.
A U.S. State Department official said Israel has withdrawn from parts of the buffer zone in southern Lebanon, describing the move as a "goodwill gesture" toward the Lebanese government.
13 minutes ago
CBRS trades below IPO price post-earnings: Erases all gains six weeks after listing, two smart money firms net $5.8 million from first-day IPO shorts.
According to Hyperinsight monitoring, Cerebras (CBRS), the AI chip firm previously dubbed "Nvidia’s strongest challenger", saw its stock price fall in stages after reporting its first quarterly results since going public, as negative guidance overshadowed better-than-expected performance. The stock has dropped roughly 22% since the earnings release and officially broke below its IPO price today. On-chain whales are overall bearish. CBRS trades at $184 on the Hyperliquid platform, down 7.7% in 24 hours. Large-scale short positions (million-dollar level) total around $11.62 million, 2.39 times the long positions ($4.87 million). Two major short positions were placed precisely at high levels as early as the IPO day or even before the IPO: - Whale 0xe0ff: Shorted at $284.51 on May 14 with a 3x leveraged position of $6.13 million, generating an unrealized profit of $3.24 million (+104%); - Whale 0x9996: Shorted at $275.92 on May 11 with a 5x leveraged position of $5.48 million, generating an unrealized profit of $2.64 million (+162%). It is learned that both addresses currently hold short positions in both CBRS and SPCX, and have recorded substantial unrealized profits, preferring to place short positions at high levels before or on the day of major stock listings. With the realization of negative earnings news in this round, the combined unrealized profit of the two positions is around $5.88 million. Currently, the average entry price of CBRS short whales is around $275, and the current price is over 30% lower than that. The nearest short liquidation line is at $200.13, about 7% away from the current price.
PANews reported on May 20th, citing Cointelegraph, that the Tor Project, in partnership with Funding the Commons, launched a Web3 crowdfunding campaign to support 10 non-profit projects dedicated to privacy, anti-censorship, secure communications, and digital infrastructure for the public good. The campaign, launched on May 19th, accepts donations in Bitcoin, Ethereum, Zcash, Monero, and Golem. Using a quadratic funding model, the $115,000 matching fund pool is provided by Cake Wallet, Zcash community funding, Logos, and Octant, and will run until June 18th. David Casey, Project Director at Funding the Commons, stated that quadratic funding is one of the solutions Web3 offers for financing critical infrastructure. Isabela Fernandes, Executive Director of the Tor Project, stated that the campaign aims to support organizations building tools to resist censorship. A Freedom House report indicates that global internet freedom has declined for 15 consecutive years, and by 2025, internet shutdowns and systemic censorship will affect more than half of the world's population. The United States withdrew from the Free Online Coalition in January.
Crypto wallet and trading platform Abra recently enabled access to 17 Altcoins.Abra which is led by Bill Barhydt added native support to 17 altcoins including Digibyte (DGB), Dogecoin (DOGE), Dash (DASH), Basic Attention Token (BAT), Neo (NEO), 0x (ZEX), OmiseGo (OMG), Qtum (QTUM), Vertcoin (VTC), Zcash (ZEC), Golem (GNT), Stratis (STRAT), Augur (REP), Ethereum Classic (ETC), TRON (TRX), Lisk (LSK) and Status (SNT).
In addition to Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH) users will soon be able to deposit and withdraw an additional 17 Crypto assets.
Native withdrawals for the other cryptocurrencies will be turned on in the coming days.
— Abra (@AbraGlobal) May 8, 2019
Abra is a non-custodial wallet meaning the private keys will not be held by the company but within the user’s device instead. The firm has also previously announced that it will enable users to buy synthetic equivalents of stocks and ETFs using Bitcoin smart contracts.
Abra Partners with Plaid to connect to “Thousands of banks”Abra has partnered with San Francisco based Fintech firm Plaid to connect user accounts to thousands of US banks. App users had to use bank transfers to deposit into their wallets, but with the new feature, they will able to connect to their bank accounts directly in-app using their API.
Bill Barhydt, CEO of Abra said:
“The addition of these new liquidity enhancements in our app gives users more ways to move between crypto and fiat. We’re particularly excited about our partnership with Plaid, which brings thousands of additional financial institutions into the Abra ecosystem for US customers.”
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Shrikar Parashar Shrikar is a Blockchain evangelist. He is a die-hard fan of security tokens. He follows the market closely but does not trade. He believes in Hodling.
As promised, the leading US crypto exchange Coinbase has dramatically increased the number of coins supported on its platform. The company just added Stellar (XLM), a few weeks after the long-rumored debut of XRP.
So which coins will land the coveted Coinbase listing next?
Back in December, Coinbase revealed it’s taking a hard look at 31 additional cryptocurrencies. The platform now supports Bitcoin, Ethereum, XRP, Litecoin, Bitcoin Cash, Stellar, Ethereum Classic, Zcash, 0x, Basic Attention Token and USD Coin.
That leaves 28 coins on Coinbase’s list of prospects.
Coinbase Pro, the company’s professional trading platform, already supports a handful of the coins on the list above: Civic, Dai, District0x, Golem, Loom, Decentraland and Zcash.
In a pattern that has been rinsed and repeated countless times this year, crypto markets are crumbling as Bitcoin failed to hold support. The altcoins are still hopelessly tied to their big brother so any pain for it is magnified for them.
Over $20 Billion Exits Crypto Space Over the past 24 hours crypto markets have shrunk to their lowest levels for almost three months. As billions left the space total market capitalization plummeted to $245 billion. All gains since late May have now been wiped out and altcoins are in danger of returning to their crypto winter levels if the rout continues.
total market cap YTD – coinmarketcap.com According to Tradingview.com Bitcoin dominance is still at 71.5% despite a thousand dollar dump. This means that the altcoins have suffered greater losses today, many of them in double digit declines. Bitcoin’s intraday high to low marks a loss of around 9% however the pain is greater elsewhere on crypto markets.
Ethereum, which has seen prices eroding for the past two months, has capitulated below $170 in a 10 percent plunge overnight. A death cross on the four hour chart a few days ago is about to be repeated on the daily chart as the 50 day moving average drops closer to the 200 day MA. This is a major bearish indicator which signals continuation of the down trend.
Development work on the Ethereum network is still ongoing with six new upgrades planned in the Istanbul hard fork slated for mid-October. This has not prevented the bears dumping the asset in panic over big brother’s fall through support however.
There has been little love for XRP either as the Ripple token gets crushed back to a yearly low of $0.25. A lot of bad press and FUD has inspired little confidence in the world’s third largest crypto asset recently.
The rest are faring no better with double digit losses for Litecoin, Binance Coin, EOS, Monero, Cardano, Tron, Dash, Ethereum Classic, Tezos and Chainlink. There are only a handful of low cap altcoins surviving the purge today and they include Golem, SOLVE and HedgeTrade.
The mess has not been missed by industry observers with RT anchor, Max Keiser, commenting;
“#Bitcoin dominance climbs as alt-season fails to materialize and alts resume downward trek to oblivion. BCH and BSV have another 90% drop to go.”
#Bitcoin dominance climbs as alt-season fails to materialize and alts resume downward trek to oblivion. BCH and BSV have another 90% drop to go. pic.twitter.com/muSHYRh6H1
— Max Keiser (@maxkeiser) August 29, 2019
Time to Be Bullish on Altcoins? Some are clinging perilously onto hope however and see opportunity in the misfortune of many crypto assets. ‘WelsonTrader’ tweeted;
“Accumulating some alts within the next 24 hours, as I think we may see a bounce here! Bitcoin may also bounce at support around $9500-$9550! If we break below that, expect a blooody week!”
All eyes are on Bitcoin’s next move as the alts are bound to follow. At the moment it is also clinging perilously onto support around $9,450, but teetering on the edge of a deeper chasm.
Maker, the largest DeFi project to date, just celebrated its biggest milestone yet with the successful activation of its Multi-Collateral Dai (MCD) upgrade.
Launched on November 18th, the MCD system will allow Maker users to draw out automated Dai stablecoin loans using collateral beyond just ether (ETH), a structural limitation of the Single-Collateral Dai (SCD) system that the MCD has replaced.
As such, SCD Dai that have yet to migrate to MCD are now known as “Sai” and can be upgraded to MCD Dai using Maker’s migration portal. Per the redesign, users can draw out collateralized debt positions — now known as “Maker Vaults” — using ether and Basic Attention Token (BAT) to start, as these were the first two cryptocurrencies vetted into MCD through Maker community governance votes.
In the future, more cryptocurrencies may follow pending similar votes. A key thread to watch going forward will be how conservative or aggressive MKR voters prove when it comes to adding new assets in. Notably, these voters were fairly conservative out of the gate, as they only voted ETH and BAT in out of seven initial contenders, with the other inaugural candidates having been 0x (ZRX), Augur (REP), DigixDAO (DGD), Golem (GNT), and OmiseGo (OMG). As for what comes next, REP is again on the slate to be considered by MKR holders.
For the Maker team, the activation day was the culmination of years of work and thus cause for celebration. As Maker Foundation chief executive officer Rune Christensen commented once MCD was live:
“I’ve been imagining this moment for five years. It’s incredible. MCD can improve the lives of so many people, from the unbanked individuals living in regions like Nigeria to the underbanked in the United States.”
Meet Oasis and the Dai Savings Rate Another major element of the MCD activation is the upgrade’s launch of the Dai Savings Rate (DSR). Akin to a decentralized checking account, the DSR will allow Dai holders to lock their holdings in a smart contract to earn an annual savings rate on those funds.
Some benefits to call out:
???? DSR is simple, free, & powerful
???? Available to any Dai holder
???? Exchanges are integrating DSR allowing traders & savers to benefit on idle Dai held
???????? Businesses can earn additional Dai on their capital float
????Stimulates DeFi growth opportunities
— Maker (@MakerDAO) November 16, 2019
At launch, the DSR was two percent, so if that rate were to hypothetically remain constant then 100 Dai locked in the underlying smart contract would generate two extra Dai after one year’s time, for example.
To streamline user access to the DSR and the new Maker Vaults system, the Maker Foundation has expanded its Oasis “all-in-one decentralized finance (DeFi) hub” to include Oasis Save and Oasis Borrow, which join the platform’s already launched Oasis Trade exchange.
Looking to the horizon the platform could be further expanded around other Dai related projects, the Maker team said:
“In the future, additional steps toward creating an ultimate all-in-one DeFi hub will be taken. Oasis might one day include features developed outside of Maker but that use Dai, for example. This will allow for deeper integrations with other DeFi projects.”
On the Dai Rebrand The Dai logo has undergone a calculated re-envisioning as part of the MCD transition, as the stablecoin’s original diamond-shaped logo (which now represents Sai) has given way to a new, more familiar “D” shaped logo that has clearly been designed to make it aesthetically nearer to the logos of the world’s top currencies.
And that’s precisely what the project’s builders are going for, as explained in a recent blog post:
“The Maker Foundation and the larger MakerDAO community are confident that Dai can sit alongside the other major currencies of the world, from inside Bloomberg Terminal platforms to beside cash registers in coffee shops. The new Dai logo is memorable, powerful in its simplicity, and, unlike the old one, easy to draw and digitally replicate. These attributes are very likely to attract new users, increase adoption, and expand brand awareness.”
William M. Peaster
William M. Peaster is a professional writer and editor who specializes in the Ethereum, Dai, and Bitcoin beats in the cryptoeconomy. He's appeared in Blockonomi, Binance Academy, Bitsonline, and more. He enjoys tracking smart contracts, DAOs, dApps, and the Lightning Network. He's learning Solidity, too! Contact him on Telegram at @wmpeaster
Yesterday, MakerDAO rolled out Multi-Collateral DAI [MCD] on its platform. While the platform continues its support for Ethereum-based collateral, support for Brave’s Basic Attention Token [BAT] was also added to the platform. Therefore, MCD would be supporting ETH as well as BAT tokens, for the time being. The platform is also eyeing Augur [REP], Golem [GNT], 0x [ZRX], DigixDAO [DGD], and OmiseGo [OMG] as potential assets on the platform.
The latest addition to the Maker platform requires users to migrate from Single Collateral Dai [SAI] to Multi-Collateral Dai. MakerDAO’s Mariano Conti went on to update the community about DAI’s progress and tweeted,
“Just over 12 hours in, some numbers for @MakerDAO Dai: – 2.4 million Dai – 88% ETH, 11% BAT, 1% Sai – 689 Vaults opened – 470k Dai in DSR – 534 Dai generated in Stability Fees – 6 liquidations already!”
At the time of writing, however, the figures had gone way beyond the same. According to DAI Stats, there were a total of 6,403,697.126 DAI in total. Further, about 6,118,083.014 DAI were acquired from ETH, followed by 269,552.625 DAI from BAT. 335.306 DAI were also obtained from SAI. The ETH stability fee and BAT stability were at 4.00 percent. However, the stability fee of SAI was at 0.00 percent.
Additionally, Dai Savings Rate [DSR] was another addition to the platform. This feature will allow users to lock their DAI into Maker’s DSR contract, while gaining a variable interest rate in DAI. At the time of writing, the DAI Savings Rate was at 2.00 percent, while the DAI in DSR was 542,872.369.
The relabeling of the term. ‘Collateralized Debt Position’ [CDP] to ‘Vault’ is another upgrade on the platform. There were a total of 768 vaults opened, during press time.
However, the total number of DAI locked in DeFi was fairly low. After recording an all-time high of 30.022 million in terms of DAI locked in DeFi, on 7 November, things went downhill. The total DAI locked in DeFi, as of today, was 16.235 million.
Artificial Intelligence (AI) crypto tokens Render (RNDR), Bittensor Tao (TAO), The Graph (GRT), AIOZ Network (AIOZ), Golem (GLM), OriginTrail (TRAC) and RSS3 (RSS3) prices rally on Monday.
Apple is likely working on an on-device Large Language Model (LLM), according to Bloomberg Correspondent Mark Gurman. The report, alongside other AI-related developments in the past week, has fueled the AI token rally.
Crypto AI tokens gain riding on updates in Artificial Intelligence from giants AI firms made several announcements in the past week. Meta, OpenAI, Sora, Microsoft, Google DeepMind, Boston Dynamics and Tencent among others, announced AI-related updates. Gurman said that Apple is likely working on its on-device LLM. LLMs are AI programs that recognize and generate text and train on huge sets of data. ChatGPT is among the most popular ones.
Power On: Apple needs a low-end iPhone and a push into emerging markets to get back on track. Also: Apple’s next big thing is an on-device LLM; iPad availability dwindles; Vision Pro loses steam; and iOS 17.5 includes a change that may upend the App Store. https://t.co/A5gdasXhIA
— Mark Gurman (@markgurman) April 21, 2024 In the past week, Meta introduced two out of three versions of Llama 3, while OpenAI and TED shared a new Sora-generated AI video. Additionally, Microsoft announced a new model to turn a single photo or piece of audio into a deep fake and researchers at Google DeepMind shared a demo of autonomous ALOHA 2 robots.
The updates from AI giants have likely catalyzed token gains. Prices of RNDR, TAO, GRT, AIOZ, GLM, TRAC and RSS3 rally on Monday. The AI tokens postd between 2% and 13% gains on the day.
Crypto AI tokens
AI token resurgence Digital Bank Sygnum’s quarterly research report states that crypto use cases are evolving.
The report states that Web3 sector performance is driven by a strong narrative around AI-related protocols and decentralized physical infrastructure networks (DePIN), and a growing demand for decentralized computing resources, interoperability solutions, and data sharing services.
Bitcoin (BTC) has been incurring a significant amount of upwards momentum as of late that allowed it to put an end to the month-long bout of selling pressure it has faced over the past month, which has also allowed it gain significant dominance over the aggregated crypto market capitalization.
Furthermore, data shows that Bitcoin has been dominating trading volume on major exchanges like Coinbase, which signals that traders are not currently interested in altcoins and are primarily focused on pouring their capital into BTC.
Bitcoin Briefly Surges Past $12,000 as Dominance Rises to Nearly 70% At the time of writing, Bitcoin is trading down marginally at its current price of $11,700 and is up slightly from its daily lows of $11,600 that were set yesterday and revisited earlier today.
Last night, Bitcoin surged past the $12,000 region before facing a sharp increase in selling pressure that sent it reeling lower. This selling pressure proved that the cryptocurrency is not yet ready to journey into the $12,000 region and may signal that further losses are imminent.
At the time, most major altcoins have been facing a significant surge in selling pressure that has caused many of them to plummet against their BTC trading pairs, which has allowed Bitcoin’s market dominance to surge to nearly 70%
Currently, Bitcoin’s market dominance is at the highest it has been since mid-2017 and is nearing levels not seen since the years before 2017.
Other major cryptocurrencies, like Ethereum and XRP, have been seeing a continuous decline in their dominance over the market, and smaller cryptocurrencies have surrendered even more of their market cap to Bitcoin.
Bitcoin Dominates Trading Volume on Coinbase This surge in market dominance has come about as a result of significantly higher-than-average BTC trading volume on major exchanges like Coinbase.
Larry Cermak, the director of research at The Block, spoke about this increased trading volume in a recent tweet, explaining that Bitcoin alone was responsible for 72% of the trading volume on Coinbase over the past 24 hours, signaling that investors have little to no interest in smaller altcoins at the present.
“Coinbase volume breakdown in the last 24 hours: BTC – 72.0% LTC – 10.2% (outlier this week because of the halving) ETH – 8.8% BCH – 2.5% XRP – 2.5% Chainlink – 1.4%. The rest combined (EOS, XLM, BAT, ETC, REP, ZRX, ZEC, Decentraland, Golem, district0x, Loom, Civic) – 4%,” he noted.
Coinbase volume breakdown in the last 24 hours:
BTC – 72.0%
LTC – 10.2% (outlier this week because of the halving)
ETH – 8.8%
BCH – 2.5%
XRP – 2.5%
Chainlink – 1.4%
The rest combined (EOS, XLM, BAT, ETC, REP, ZRX, ZEC, Decentraland, Golem, district0x, Loom, Civic) – 4% pic.twitter.com/6vdEk304mt
— Larry Cermak (@lawmaster) August 6, 2019
Although it still remains unclear as to whether or not Bitcoin is currently in a full uptrend, it is clear that investors are not yet interested in altcoins, and the prophesized “altseason” may be a long way off.
