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Top Projects with Market Capitalization under $250M 14 September 2023

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Disclaimer:

This article presents only personal opinions. It does not offer any financial advice. The information provided here is primarily for entertainment and educational purposes. Investing in cryptocurrencies can be risky. There is a risk of capital loss and returns are not guaranteed. We recommend conducting your own research before investing.

In a recent unexpected turn of events, the #ShibaInu team has demonstrated their market influence by conducting a large-scale burn of their SHIB tokens. This move resulted in a staggering increase of 779 thousand percent in the number of tokens burned.
Recent data from Shibburn, a website tracking activity within the Shiba Inu ecosystem, suggests that this step may represent the largest 24-hour token burn in the history of cryptocurrencies.

In the last day, a total of 8.62 billion #SHIB were burned in 6 transactions. For more details, visit the Shibburn website where you can find an overview of the total amount of SHIB burned, available supply, and more.
 This strategy led to the permanent removal of over 8 billion SHIB tokens from circulation by transferring them to inactive wallets. Token burning, a well-known practice in the Shiba Inu community, is perceived by many investors as a factor that can help increase the value of the token. Every investor has the opportunity to participate in this activity, thereby contributing to the reduction of the total availability of SHIB and potentially supporting its value.
 Shibburn reports that in the last 24 hours, 8.62 billion SHIB were burned, with the majority being eliminated in a single large transaction. During this event, 8.615 billion SHIB were transferred to a so-called "dead wallet,"effectively removing them from the market. Lucie, the marketing manager of Shiba Inu, attributed the success of this burning action to the project team, thus supporting the company's effort to influence the market value of SHIB.
 Shytoshi Kusama, the lead developer of the Shiba Inu project, recently announced further SHIB token burns that could remove SHIB worth over 1.2 million dollars from circulation. Kusama also pointed out the growing adoption of SHIB in the market, which could mean an increase in the frequency of burns throughout 2023. He emphasized the need for support from global leaders of the decentralized internet and community members to ensure that these burns have a meaningful impact.
 

 
Kusama shared on social media that preparations for further SHIB burns are underway and that events associated with the Shibarium transaction layer deserve attention. He also expressed anticipation for upcoming announcements next week.
 At the time of publishing this article, the value of SHIB was at 0.00001042 USD, representing an increase of 2.6% in the last 24 hours.
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 Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

The best chance to buy them was yesterday, the second best chance is today. It is better to hold some. You can always DCA more if price goes down!

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Are you interested in today's events in the cryptocurrency sector? We bring you the latest information on price trends, blockchain, DeFi, #NFT , Web3, and regulatory measures.
Tether Invests in Northern Data Miner with an AI Hint
Tether, backed by the largest stablecoin USDT with a market capitalization of 83 billion dollars, has made an undisclosed investment in the German #cryptocurrency mining company, Northern Data Group. This partnership has ties to artificial intelligence. Although Tether denied the report of a 420 million dollar investment, it did not specify the actual amount. This investment will not affect the reserves or customer funds of Tether.
 Northern Data Group announced the use of the funds for acquiring AI hardware. Specifically, the company Damoon, which Northern Data recently acquired, plans to purchase 10,000 NVIDIA H100 Tensor Core graphics processors for approximately 400 million EUR.
ChatGPT Creates Token for Ethereum
Developers from #Ethereum utilized ChatGPT to create their own ERC-20 token, named AstroPepeX, inspired by popular tokens on the Uniswap exchange. User CroissantETH detailed the process of integrating ChatGPT through OpenAI's API and creating the token with an estimated market capitalization of 3.5 million dollars.
Etherscan data reveals that AstroPepeX now has over 2,300 holders, and since its inception on September 20, more than 17,700 transactions have taken place. ChatGPT was also employed to deploy smart contracts on Ethereum after analyzing 10,000 of the most traded tokens on Uniswap.
After creating AstroPepeX, ChatGPT sent 65 billion APX tokens and 2 ETH to the decentralized exchange, Uniswap.
Appeals Court Denies Release Request of Former FTX CEO
 Sam Bankman-Fried, the former CEO of the cryptocurrency exchange FTX, faced disappointment as the United States Appeals Court for the Second Circuit rejected his request for early release from prison. A panel of three judges concluded that the arguments presented by his team in favor of the release were not sufficiently convincing:
On September 21st, judges John M. Walker Jr., Denny Chin, and William Nardini determined that the reasons put forth by Bankman-Fried and his legal team were insufficient. The records indicate that Judge Lewis Kaplan, overseeing the case, correctly identified Bankman-Fried's actions as witness tampering.
 A detailed analysis of the court decision revealed that the district court thoroughly evaluated all essential aspects, particularly Bankman-Fried's behavior, leading to the continuous tightening of his release conditions. While the court considered less restrictive measures, such as limiting his communication with the media, they concluded that such a solution would not be effective in the long term.
 A primary point of contention was Bankman-Fried's previous act of providing a New York Times reporter with the private diaries of Caroline Ellison, former CEO of Alameda Research. This act was interpreted as an attempt to intimidate witnesses. Additionally, Bankman-Fried's lawyers pointed out his limited access to the internet, which could have hindered his ability to adequately prepare for the upcoming legal proceedings.
 During the hearing on September 19th, both sides presented their arguments. The situation was pivotal for Sam, especially after Judge Kaplan, in August, revoked his $250 million bail, leading to his transfer to a prison in Brooklyn.
 Given that the appellate court's decision comes just before the planned trial on October 3rd, it's likely that Bankman-Fried will remain incarcerated until his criminal trial. Though another court proceeding is anticipated in March 2024, Bankman-Fried denies all charges and maintains his innocence.
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 Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

Former CEO of #Alameda Research, Caroline Ellison, has provided testimony regarding an alleged fraud, purportedly orchestrated by Sam Bankman-Fried, the founder of cryptocurrency exchange #FTX . In her testimony, she stated that she engaged in financial machinations to lower apparent risks on Alameda's balance sheet and that funds were transferred between Alameda and FTX for investments and other purposes.
Ellison and Bankman-Fried’s Relationship in Court
Ellison, at 28 years old, plays a pivotal role in the trial scrutinizing the financial practices of Alameda and FTX. Her closeness to Bankman-Fried, both on a personal and professional level, is seen as a critical element in the trial, especially considering the financial collapse of FTX in the previous year. Ellison has been cooperating with authorities since admitting to financial crimes that occurred during her tenure at Alameda.
 
Details on Financial Movements Between Alameda and FTX
Ellison discussed financial fund movements and loans between FTX and Alameda, specifically how funds were used to fulfill customer withdrawal demands and to invest in select areas and political donations, which Bankman-Fried regarded as a low-cost method to gain political influence.
 
Bankman-Fried and His Efforts to Secure Financing for Alameda
In one part of the testimony, it was clarified that Bankman-Fried exerted pressure to secure as large a volume of loans for the company as possible. Further, questions arose regarding why FTX's token, FTT, comprised a significant portion of assets on Alameda's balance sheet, and how this focus on FTT was motivated by an effort to maintain credit availability.

Ongoing Legal Battle and Further Testimonies
Tense moments and exchanges between legal teams and the judge have arisen during the trial. Bankman-Fried's defense team is expected to subject Ellison to a rigorous cross-examination, aiming to challenge her credibility. The trial is being closely watched by media, with interest in further developments in the case and additional testimonies that may come to light.
 Additional Details and Future Direction of the Case
Gary Wang followed Ellison in the testimony, also offering insight into the technical side of Alameda's operations. Further investigations focused on the alleged fraudulent activities and decision-making processes in both Alameda and FTX are expected in the case. Questions also arise regarding the role and responsibility of Bankman-Fried and other executives in these companies.

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