For the Love of the Game (Market Commentary) |
Bitcoin is racing towards another new all-time high, and cross your fingers, because it’s looking like
an altcoin season is loading with it. But there are some major developments in crypto and AI that are signaling that the golden part of the bull market may be kicking off soon.
From the GENIUS Act heading towards a Senate vote this week, new regulations coming that will change the face of DeFi, and AI agents being primed to explode on Ethereum, the time to be plugged in is right now.
Here’s what happened in AI, crypto, and NFTs over the last week. Virtuals sent shockwaves through the blockchain after announcing their first-ever official agent named IRIS, which will be launched on the Ethereum blockchain. - Virtuals’ IRIS agent was created by Nethermind, which was founded by the Co-Executive Director of the Ethereum Foundation.
- IRIS will be an autonomous public-good smart contract audit agent that will function directly on X.
- 50% of the $IRIS token will be given to the Ethereum community, with rumors suggesting possibly to $VIRTUAL and $VADER stakers.
- The agent’s token presale will take place on the Virtuals platform at a $200K FDV. You must have
Virtuals’ Virgen Points to participate in the pre-sale. The $IRIS token is predicted to hit as high as $100M FDV, which would be a 500x from the presale price.
Circle, the creator of the USDC stablecoin, went public on the NYSE last Thursday, revealing immense demand for crypto exposure. - The IPO was priced at $31 per share, higher than the expected $27-$28, and raised
$1.05B.
- At open, the stock soared to $69 and climbed as high as $103 on Friday, and $125 yesterday.
- News has now leaked that other crypto companies like Gemini will also have an IPO, and rumors
that Pudgy Penguins may follow suit.
- The Plasma blockchain, backed by Tether, launched an ICO yesterday. The raise brought in $500M with one
user spending $100K in gas to get their investment in.
After weeks of rumors, confirmation has landed that the memecoin launchpad, PumpFun, will be launching a token in the next 2 weeks. - Insiders were rumored to be offered tokens at a presale price between $12M - $20M, while VCs were sold at $200M, and a public sale at $1B.
- Memecoins crashed last week on the news, with many traders expecting the token sale to be a mass
extraction event.
- Other rumors have leaked showing that there will be an airdrop for PumpFun platform users, including
streamers.
The AI market climbed +3.49% to a $10.2B market cap this week, riding an upswing across crypto. Major announcements like the new Virtuals $IRIS agent/token have the community buzzing with hype that should continue over the next few weeks. - The Virtuals ACP has gone live on Base mainnet, with the Axelrod, Swarm, AIXBT, QuillAI,
GigaBrain, and Mamo agents now transacting on-chain.
- The Swarm Report daily show welcomed major guests from across AI, including Artsted, Athena, Billy Bets, and Asynchronus, along with announcing a partnership with the Arbus InfoFi platform. The $SWARM token was the top-performing token on Base over a 7D period, reaching as high as $13M
MC.
- Vader Research revealed a major new points system, which will give $VADER token stakers big
Virtuals Virgen points and token rewards for their X posts.
- KaitoAI is expanding its presence to TikTok and Instagram, opening the door for non-crypto
influencers to earn crypto rewards.
- Arbus’ terminal has gone live for token stakers to view mindshare and sentiment
stats.
- aixCV revealed their Alpha Hub for Genesis Agent points tracking, smart money movements, alpha,
and staking metrics.
- Amazon has announced a $20B investment in the USA to advance AI
innovation.
- A massive art resurgence is surfacing, revealed by more big XCOPY and CryptoPunks sales this week. 3 XCOPY 1/10 editions sold for a combined $1.28M (Cracked - $440K, Dirtbag - $420K, Disaster Suit - $420K), while a lot of 16 Punks owned by PixelVault were auctioned for 930 $ETH ($2.4M).
- Pudgy Penguins announced the acquisition of their $PENGU ticker on Hyperliquid, and also showed
off gameplay footage of their Pudgy Party game.
- Claynosaurz Popkins had their NFT reveal and escape pack $200 refunds. The collection’s floor is slightly under mint price at 55 $SUI ($192).
- Good Vibes Club announced a giveaway contest for 16 of their unclaimed NFTs via a holders
raffle.
- Orange Cap Games, the new Moonbirds owners, has raised $3.5M in a seed round led by 1k(x) and Yuga
Labs.
- Crypto Agents NFTs, a new AI project with agents owned via NFTs, completed their mint and saw $952K in secondary volume.
- NFT sales volume climbed +31.60% to its 3rd highest total in 15 weeks.
- Trade profits ended up +102.28% in the positive for the first time since the week of Jan 13.
ETH NFT Composite - 600.13 (-1.40%)
SOL NFT Composite - 510.31 (-0.09%)
POL NFT Composite - 3.29 (-15.42%)
CAR NFT Composite
- 369.71 (-3.22%) Top Gainers 7d SPX - $1.42 (+36.0%)
ICP - $6.07 (+20.4%)
QNT - $123.13 (+16.0%)
INJ - $13.91 (+15.0%)
SKY - $0.08046 (+13.5%)
Top Losers 7d
JUP - $0.4831 (-9.3%)
XMR - $331.50 (-6.8%)
STX - $0.6987
(-6.8%)
TIA - $2.12 (-5.5%)
GT - $18.39 (-4.3%) |
Named after Alan Turing, a famed mathematician, computer scientist, and logician, this test measures a machine’s ability to pass for a human, particularly in the fields of language and behavior. After being graded by a human, the machine passes
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