Month: March 2023

ChatGPT Expands Crypto Toolkit with OpenAI Plugins

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• ChatGPT, an AI-powered language bot, has just released new plugins by OpenAI which opens up a vast array of third-party knowledge sources and databases, including the internet.
• This integration could prove to be a game-changer for investors and traders in the crypto industry.
• There are potential risks associated with this development such as reliability of the information accessed by the bot and the speed at which the market moves.

ChatGPT’s Expansion

ChatGPT, the AI-powered language bot that has taken the world by storm, has just added more firepower to its arsenal thanks to the release of new plugins by OpenAI. These plugins open up a vast array of third-party knowledge sources and databases, including the internet, thus expanding its already impressive functionality.

Impact on Crypto

The integration of these new plugins could prove to be a game-changer for investors and traders in the crypto industry. However, the impact of this integration on the crypto industry remains to be seen.

Benefits

The ability of ChatGPT to access the internet in real-time could have significant implications for investors and traders in the crypto industry, and for the market as a whole. With access to an ever-expanding pool of information, it can provide users with real-time insights into market trends and developments which allows them to make more informed and profitable decisions. In addition, it could enable ChatGPT to identify emerging trends before they become mainstream giving users an advantage over their competitors.

Risks

However, there are also potential risks associated with this development such as reliability of information accessed by chatbot that may not always be accurate or trustworthy leading to poor investment decisions; or making decisions based on outdated information due to fast paced nature of crypto trading leading to losses.

Plugin Details

OpenAI has announced that this plugin feature is still in its early alpha stage but will see further updates soon which would add even more sophistication into it functioning allowing users greater control over how they use it while being safe from any potential risks associated with using it online.

Whales Transfer $1B+ in USDT, Sparking Speculation on Reason Behind Move

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• The market intelligence platform Santiment recently reported a large transfer of Tether’s stablecoin USDT over the past years, with eight out of the massive transaction recorded exceeding a value of more than $1 billion.
• Whale’s massive transfers could be due to their concerns over the stability of USDC, a stablecoin issued by Circle who recently reported a $3 billion exposure to troubled Silicon Valley Bank.
• Bitcoin (BTC) was still seen moving in a bearish trend last week due to negative news such as Silvergate suspending services and KuCoin Lawsuit setting dangerous precedent for Ethereum.

What Are The Whales Up To Now?

According to a report from the market intelligence platform Santiment, a large transfer of Tether’s stablecoin USDT has soared over the past years, with eight out of the massive transaction recorded exceeding a value of more than $1 billion. While many have wondered about the reason behind the odd spike in the market despite a reason for a plummet, Santiment’s latest report revealed that this surge in the market could be due to whales’ massive transfers as out of these large transactions was seen to have taken place in the last ten days. Though many crypto enthusiasts have argued that these large transactions may have been used to move the market or as an exchange for Bitcoin (BTC), Santiment suggested instead that it was likely due to whales’ concerns over the stability of USDC, a stablecoin issued by Circle who recently reported a $3 billion exposure to troubled Silicon Valley Bank.

Circle’s Troubled Exposure & HSBC UK Acquisition

Related Reading: Silvergate Halts Crypto Payments After Suffering $1 Billion Loss Though Circle has announced the recovery of its $3 billion exposure, Silicon Valley is still experiencing financial run and on Monday, HSBC UK – ring-fenced subsidiary acquired Silicon Valley Bank UK for £1 ($1.21). Santiment noted that “bank collapse and USDC concerns” have made “big contributors” in the market move their “USDT off exchanges at rapid rate.”

Bitcoin (BTC) In A Week

As of last week, Bitcoin (BTC) was still seen moving in bearish trend as negative news intensified. Silvergate which offered industry payments network that allowed customers to exchange U.S dollars between crypto exchange accounts 24/7 matched liquidity needs suspended services and shut down while one KuCoin lawsuit set dangerous precedent for Ethereum.

What Could This Mean For Crypto Market?

The large transactions suggest investors taking precautionary measures against any upcoming risk towards USDC or other similar digital assets given instability in current banking systems but could also mean whale’s next move towards taking advantage if there is another bull run coming up soon. With increased volatility across crypto markets right now – speculators are left wondering what will come next!

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Successful Yuga Labs 12Fold Auction Nets $16.5M, Top Bid Over $161K

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• The Yuga Labs 12Fold Collection auction ended recently and was a huge success, netting $16.5 million in one day.
• It recorded 288 winning bids, with the highest bidder paying over $161,000 for one Bitcoin NFT.
• Yuga Labs promised to send out their Bitcoin NFTs to winners within 7 days.

Yuga Labs 12Fold Collection Auction a Huge Success

The recently concluded Yuga Labs 12Fold Collection auction was a huge success and netted $16.5 million in one day. The event kicked off on March 5 and based on the announcement, 288 bidders received 288 inscriptions from the 300 NFT-like images on Satoshi using Ordinals. Even though many people criticized the auction model, it still proved to be successful in the end.

Highest Bidder Pays Over $161K for One Bitcoin NFT

Yuga Labs announced their success through a Twitter post and congratulated all of the 288 winners while promising to send out their Bitcoin NFTs within 7 days. Additionally, all other bidders who lost were also assured that their BTCs would be returned back to their wallets within 24 hours. According to details provided on TwelveFold Collection site, Yuga Labs realized 735 BTC worth almost $16.5 million at market price with the highest bidder paying slightly more than 7BTC (amounting to about $161,000) for one Bitcoin NFT!

Excitement Among Winners

Winners of the auction were extremely excited to receive their NFTs and took to Twitter to announce it expressing excitement over having been successful in their bid! For example; one of such winners Carsonturner posted his excitement on Twitter as soon as he was declared winner of his bid!

Ordinals Protocol Adoption Likely To Increase

Thanks to this hugely successful first ever bitcoin NFT auction sale by Yuga Labs, adoption of Ordinals protocol is likely going to increase exponentially as they have successfully set a pace by leveraging number 1 crypto blockchain in this growing sector!

Criticisms About Auction Model

Though very successful in its own right; this auction did not sit well with many people due process involved which required sending BTCs directly into company wallet before any bids could be accepted or honored! Ethereum tumbled down significantly on charts after news went public about this controversial model followed by Yaga Lab’s . Casey Rodarmor , creator of Ordinals even had go so far as warning Yaga labs against following such process again or else he will wash his hands off project & influence others too do same !