Crypto Researcher Claims Meme Coins Are More Accessible And Equal Than NFT Collections
According to BlockBeats, Ryan Selkis, the founder of cryptocurrency research firm Messari, stated on March 9th that meme coins are more accessible and equal than NFT collections. He believes this is the reason why the scale of meme coins is 5-10 times larger than that of NFTs.
Selkis' statement highlights the growing popularity of meme coins in the cryptocurrency market. These digital assets, often based on popular internet memes, have gained traction among investors and traders due to their accessibility and affordability. In contrast, NFT collections, which consist of unique digital art pieces and collectibles, can be more exclusive and expensive, limiting their appeal to a smaller audience.
As the cryptocurrency market continues to evolve, the debate between the value and potential of meme coins and NFTs is likely to persist. However, Selkis' comments emphasize the importance of accessibility and equality in the digital asset space, which could influence the future development of both meme coins and NFTs.
Did Elon Musk Buy More Bitcoins? Here’s What Data Reveals
The post Did Elon Musk Buy More Bitcoins? Here’s What Data Reveals appeared first on Coinpedia Fintech News
Tesla’s Bitcoin wallet shows an increase from 9,720 BTC as reported in its last earnings report, to 11,509 BTC.
Reports from Arkham Intelligence suggest that Tesla Incorporation has acquired 1,000 Bitcoins since their last acquisition of BTC in 2021. However, Musk and Tesla have yet to comment on these speculations, as per Arkham Intelligence’s report.
Previously, Tesla surged its Bitcoin holdings in January 2021 with a purchase of $1.5 billion. Tesla reportedly held 9,720 BTC in 2023.
Tesla’s previous sale of BTC coincided with Bitcoin’s market movements.
Looking into the current situation, the crypto community is curious about Musk’s renewed interest in Bitcoin. Additionally, Elon Musk’s involvement in cryptocurrency extends to SpaceX, holding Bitcoin on its balance sheet.
Tesla’s Stock Decline Amidst Chinese EV Market Challenges
While in the U.S. we are seeing Tesla and SpaceX increasing their Bitcoin/crypto holdings, in the absolute east, Tesla is facing challenges.
In the Chinese EV market, Tesla has witnessed a more than 7% drop in its stock. Weak shipments from its Shanghai factory, with a 19% YoY decline in deliveries, indicate intensified competition and disruptions tied to the Lunar New Year holidays.
Bitcoin Price Fluctuations
Ever since Nov 2021, Bitcoin has once again reached its new all-time-high breaching the $69000 mark slightly. The Bitcoin price surge this week is believed to be driven by capital inflows ever since the ETF approvals, and its correlation with technology stocks.
CoinShares data indicates consistent capital inflows into Bitcoin-linked investment products. The imminent halving in Bitcoin production adds anticipation to market dynamics.
Tesla’s Bitcoin holdings and market activities show Musk showing a renewed interest in accumulating Bitcoin after it seems his much-loved dogecoin has failed to reach $1. All these developments taking place together represent the interconnectedness of Tesla’s stock performance, Bitcoin fluctuations, and broader market trends.
Worldcoin: How Will Elon Musk’s Lawsuit Against OpenAI Impact WLD Price?
Between Feb. 25 and March 7, WLD prices dipped 40% from its $9.50 all-time high after Elon Musk filed a lawsuit against Worldcoin’s parent firm.
Between bullish tailwinds from the NVIDIA-led Crypto AI renaissance and bearish headings from the legal battle between Elon Musk and OpenAI, Worldcoin price levers have been pulled in opposite directions since March 1.
On-chain data trends provide vital insights into how initial response among crypto whales and Worldcoin long-term investors could impact WLD short-term price action.
Worldcoin price initially dipped 40% after Elon Musk filed lawsuit
On March 1, Elon Musk filed a lawsuit against Worldcoin’s parent company, OpenAI, for breach of fiduciary duty and claims of unfair business practices. The news effectively truncated a historic February rally for the Worldcoin’s native WLD token.
Worldcoin (WLD) Price action before and after Elon Musk Lawsuit | February – March 7, 2024. Source: TradingView
WLD’s price soared 320% to an all-time high of $9.50 on Feb 25, which momentarily saw its market cap surpass the $1 billion mark. As news of Elon Musk’s lawsuit against OpenAI broke, it set off a panic yard sale, sending Worldcoin’s price spiraling 40% to a two-week low of $5.60 on March 5.
It has now been a week since Elon Musk’s lawsuit against OpenAI. The two major stakeholder blocs within any cryptocurrency network are long-term holders and whale investors. On-chain indicators show that both groups have taken on a bullish disposition on Worldcoin.
Crypto Whales continue investing in Worldcoin
With one eye on the crypto AI, rave partly triggered by NVIDIA’s record-breaking 2023 fourth-quarter earnings and growing adoption of the controversial iris scanning orbs, risk-seeking Worldcoin whales have refused to throw in the towel.
The Santiment chart below depicts real-time changes in whale wallets holding 1 million to 10 million WLD balances. It shows that the week following Elon Musk’s lawsuit filing, the whales acquired another 720,000 WLD tokens between March 2 and March 7.
Valued at the current price of $7.20 per token at press time on March 7, the newly acquired tokens are worth approximately $5.2 million. This shows that rather than exit, the whales have capitalized on the price dip to scoop up more tokens in anticipation of more significant future gains as the project develops.
Investors with a high-risk appetite often gravitate towards distressed coins, or crypto projects embroiled in regulatory or legal contests, in hopes of a big payday if the lawsuit yields a positive outcome.
This whale cohort holds over 521.9 million WLD, representing 5.2% of Worldcoin’s 10 billion total circulation supply. On-chain buy/sell trends have historically been positively correlated to WLD price movements. If whales keep buying, WLD could avoid a dramatic price downswing as the lawsuit unfolds.
Worldcoin long-term investors are standing firm
Furthermore, another critical on-chain indicator shows that Worldcoin long-term holders are refraining from selling their tokens amid the legal crisis.
Santiment’s age consumed metric tracks long-term investors’ trading activity by multiplying the number of recently-traded coins by the number of days since they were last moved.
Age-consumed figures rise when long-term investors and project insiders are on a selling spree, with many previously long-held coins on the move.
But interestingly, the on-chain trends observed on the Worldcoin network this week show that WLD Age Consumed has been in decline since Elon Musk’s lawsuit.
Worldcoin (WLD) Age Consumed vs. Price | Source: Santiment
Specifically, the 7.5 million coin days consumed on March 7 represents an 83% drop-off from the initial spike recorded on March 2. This metric shows that the Worldcoin long-term investors continue to show diamond hands despite the swirling controversy in the past week.
When it occurs during a period of heightened market fear, uncertainty, and doubt it could boost other investors’ confidence.
How will Worldcoin price react to Elon Musk’s lawsuit?
The early bullish reactions from Whales and long-term investors suggest they will likely prop up WLD prices in the near term. By continuing to HODL amid intense bearish headwinds from the legal battle between Elon Musk and OpenAI, these key stakeholders convey confidence in the long-term prospects and value of Worldcoin.
Unsurprisingly, rather than head into a downward spiral as initially feared, WLD price has now rebounded from its weekly low of $5.60 on March 5 to reclaim $7.20 territory at press time on March 7.
This rare bullish conviction may stem from belief in the project’s fundamentals or a strategy to front-run massive gains if OpenAI experiences its own Ripple (XRP) breakout moment with a legal victory over Elon Musk.
If the current dynamics persist as the lawsuit lingers, Worldcoin price could defy the odds and enter another leg-up towards $10.
AI concepts (NEAR,RNDR,NMT,FET,WLD) ,Is there another pump happening?What is the role of Nvidia GTC?
Nvidia GTC (GPU Technology Conference) is scheduled from 18-21 of march2024. As NVIDIA Corporation (NVDA) is an American semiconductor company and a leading global manufacturer of high-end graphics processing units (GPUs).Agenda of the conference is to bring IT professionals, developers,engineers, researchers and Investors together to be involved/indulged in common growth plots of AI, machine learning, computer graphics, data science and autonomous machines.NVIDIA founder Jensen Huang will also be participating in the conference. Conference seems to look formal untill specific crypto founders announced to attend the same,this caused as an caytalist and crypto AI concepts token queued up in gainers. Let's have an glance of tokens directly effected by this circulating news: NEAR (Protocol co-founder Illia Polosukhin is scheduled to attend and speak at the GTC24. The event will take place featuring a keynote speech and panel discussion on the topic of 'Transforming AI'.) according to trusted resources.Fetch.ai (FET)Render (RNDR)Worldcoin (WLD)SingularityNET (AGIX)Akash Network (AKT) Market can't wait untill conference will be held and satisfactory decisions would be pendown.Just the certain news heated crypto market and traders get involved in. According to my analysis AI is always important to defying a token status as hit or shit. Fast blockchians, protocols always need fast and correct processing and storage and this can only be done by AI. So AI technology is a future world of crypto and no one can deny it.Every single news circulating in market regarding AI would impact AI concepts token directly, most probably this could be about positive updates that would leads to price growth of certain token.I conclued by entitling 2024 "gradual year of AI". #TrendingTopic #NEAR #RNDR #fet.ai #wld
Worldcoin: How Will Elon Musk’s Lawsuit Against OpenAI Impact WLD Price?
Between Feb. 25 and March 7, WLD prices dipped 40% from its $9.50 all-time high after Elon Musk filed a lawsuit against Worldcoin’s parent firm.
Between bullish tailwinds from the NVIDIA-led Crypto AI renaissance and bearish headings from the legal battle between Elon Musk and OpenAI, Worldcoin price levers have been pulled in opposite directions since March 1.
On-chain data trends provide vital insights into how initial response among crypto whales and Worldcoin long-term investors could impact WLD short-term price action.
Worldcoin price initially dipped 40% after Elon Musk filed lawsuit
On March 1, Elon Musk filed a lawsuit against Worldcoin’s parent company, OpenAI, for breach of fiduciary duty and claims of unfair business practices. The news effectively truncated a historic February rally for the Worldcoin’s native WLD token.
Worldcoin (WLD) Price action before and after Elon Musk Lawsuit | February – March 7, 2024. Source: TradingView
WLD’s price soared 320% to an all-time high of $9.50 on Feb 25, which momentarily saw its market cap surpass the $1 billion mark. As news of Elon Musk’s lawsuit against OpenAI broke, it set off a panic yard sale, sending Worldcoin’s price spiraling 40% to a two-week low of $5.60 on March 5.
It has now been a week since Elon Musk’s lawsuit against OpenAI. The two major stakeholder blocs within any cryptocurrency network are long-term holders and whale investors. On-chain indicators show that both groups have taken on a bullish disposition on Worldcoin.
Crypto Whales continue investing in Worldcoin
With one eye on the crypto AI, rave partly triggered by NVIDIA’s record-breaking 2023 fourth-quarter earnings and growing adoption of the controversial iris scanning orbs, risk-seeking Worldcoin whales have refused to throw in the towel.
The Santiment chart below depicts real-time changes in whale wallets holding 1 million to 10 million WLD balances. It shows that the week following Elon Musk’s lawsuit filing, the whales acquired another 720,000 WLD tokens between March 2 and March 7.
Valued at the current price of $7.20 per token at press time on March 7, the newly acquired tokens are worth approximately $5.2 million. This shows that rather than exit, the whales have capitalized on the price dip to scoop up more tokens in anticipation of more significant future gains as the project develops.
Investors with a high-risk appetite often gravitate towards distressed coins, or crypto projects embroiled in regulatory or legal contests, in hopes of a big payday if the lawsuit yields a positive outcome.
This whale cohort holds over 521.9 million WLD, representing 5.2% of Worldcoin’s 10 billion total circulation supply. On-chain buy/sell trends have historically been positively correlated to WLD price movements. If whales keep buying, WLD could avoid a dramatic price downswing as the lawsuit unfolds.
Worldcoin long-term investors are standing firm
Furthermore, another critical on-chain indicator shows that Worldcoin long-term holders are refraining from selling their tokens amid the legal crisis.
Santiment’s age consumed metric tracks long-term investors’ trading activity by multiplying the number of recently-traded coins by the number of days since they were last moved.
Age-consumed figures rise when long-term investors and project insiders are on a selling spree, with many previously long-held coins on the move.
But interestingly, the on-chain trends observed on the Worldcoin network this week show that WLD Age Consumed has been in decline since Elon Musk’s lawsuit.
Worldcoin (WLD) Age Consumed vs. Price | Source: Santiment
Specifically, the 7.5 million coin days consumed on March 7 represents an 83% drop-off from the initial spike recorded on March 2. This metric shows that the Worldcoin long-term investors continue to show diamond hands despite the swirling controversy in the past week.
When it occurs during a period of heightened market fear, uncertainty, and doubt it could boost other investors’ confidence.
How will Worldcoin price react to Elon Musk’s lawsuit?
The early bullish reactions from Whales and long-term investors suggest they will likely prop up WLD prices in the near term. By continuing to HODL amid intense bearish headwinds from the legal battle between Elon Musk and OpenAI, these key stakeholders convey confidence in the long-term prospects and value of Worldcoin.
Unsurprisingly, rather than head into a downward spiral as initially feared, WLD price has now rebounded from its weekly low of $5.60 on March 5 to reclaim $7.20 territory at press time on March 7.
This rare bullish conviction may stem from belief in the project’s fundamentals or a strategy to front-run massive gains if OpenAI experiences its own Ripple (XRP) breakout moment with a legal victory over Elon Musk.
If the current dynamics persist as the lawsuit lingers, Worldcoin price could defy the odds and enter another leg-up towards $10.
Binance Will Support the Ethereum (ETH) Network Upgrade & Hard Fork
Fellow Binancians, Starting at approximately 2024-03-13 13:25 (UTC), Binance will suspend the deposits and withdrawals of token(s) on the Ethereum (ETH), Arbitrum (ARB), Optimism (OP), zkSync Era, Base Protocol (BASE), Manta Network (MANTA), Starknet (STRK), Polygon (MATIC) and Metis (METIS) networks to support the Ethereum network upgrade and hard fork to ensure the best user experience. The network upgrade and hard fork will take place at epoch 269,568, or approximately at 2024-03-13 13:55 (UTC). Please note: The trading of token(s) on the aforementioned networks will not be impacted.Binance will handle all technical requirements involved for all users.Deposits and withdrawals for token(s) on the aforementioned networks will be reopened once the upgraded network is deemed to be stable. No further announcement will be posted.There may be discrepancies in the translated version of this original article in English. Please reference this original version for the latest or most accurate information where any discrepancies may arise. For more information, please refer to the announcement from the project team. Thank you for your support! Binance Team 2024-03-08 Note: This announcement was updated on 2024-03-12 to clarify that Binance will suspend the deposits and withdrawals of token(s) on Metis (METIS) network at approximately 2024-03-13 13:25 (UTC).