Sponsored by

Get Smarter About Crypto

₿itcoin reached $70,195. -0.75%

♢Ethereum reached $3,549. -0.61%

What we will talk about today...

🤖 Tether Dives into AI with Open-Source Focus.

🚨 Bitcoin’s Q1 Surge: Signs of Exhaustion?

💰 Munchables Hack: Rogue Developer Returns $62 Million.

🐋 Dogecoin Whales Stir Up the Market.

Tether Dives into AI with Open-Source Focus

Cryptocurrency pioneer, Tether, is stepping into the AI world. It aims to democratize AI development and establish open-source models in this growing field.

📈 Innovating AI Development

Tether is working on open-source alternatives to current multimodal AI models. It aims to bridge the gap between closed and open-source solutions by tapping into global collective intelligence.

🌍 Solving Real-World Problems with AI

Tether is integrating AI into practical products to address real-world challenges. This initiative is part of its commitment to contribute to the broader AI ecosystem.

🚀 Building an AI Team

Tether is recruiting top talent for its new AI division. The goal is to assemble a diverse team to drive innovation and push AI development boundaries.

🗣️ CEO’s Vision for the Future

Tether’s CEO, Paolo Ardoino, highlighted AI’s potential to shape humanity’s future. He emphasized Tether’s dedication to progress and innovation, citing investments in companies like Northern Data and Nvidia.

🌟 Promoting AI Innovation and Collaboration

Tether invites individuals from diverse backgrounds to join its mission of democratizing AI development. It aims to foster a culture of innovation, collaboration, and inclusivity to unlock AI’s full potential and drive global change.

Stay up-to-date with AI.

The Rundown is the world’s fastest-growing AI newsletter, with over 500,000+ readers staying up-to-date with the latest AI news and learning how to apply it.

Our research team spends all day learning what’s new in AI, then distills the most important developments into one free email every morning.

Sign up with one click.

Bitcoin’s Q1 Surge: Signs of Exhaustion?

Bitcoin (BTC) is nearing $70,251, marking a nearly 65% gain in Q1 2024. However, there are signs of “exhaustion” due to the rapid pace of the bull market. Despite this, QCP Capital remains “very bullish” for Q2.

🐂 Bullish Q2 Amid Warning Signs

QCP Capital sees potential for significant growth in Q2 but warns of challenges. Factors such as continued demand for BTC spot ETFs and potential ETH spot ETF approval fuel optimism. However, the rapid Q1 rally raises concerns about exhaustion and over-leverage among traders.

⚠️ Balanced Approach Amid Declining Sentiment

QCP Capital advises caution due to declining sentiment around altcoins, especially Ether (ETH), and high funding rates across exchanges. They recommend readiness to capitalize on market dips while maintaining a bullish view.

📉 Historical Context of Record-Breaking Momentum

Bitcoin’s year-to-date gains of 65.4% highlight the record-breaking momentum in Q1 2024, rivaling Q1 2023’s performance. The potential for a seventh consecutive green monthly candle, a rare occurrence, underscores the ongoing bullish sentiment.

🌐 Navigating Market Complexity with Prudence

As Bitcoin and crypto markets face rapid growth and increasing investor interest, vigilance and prudence are crucial. While optimism for continued growth persists, the need to mitigate risks associated with exhaustion and over-leverage emphasizes the importance of a balanced and cautious approach to trading and investment strategies.

💰 Munchables Hack: Rogue Developer Returns $62 Million, No Ransom Demanded

Munchables, a Web3 gaming platform, recently experienced a security breach. A former developer exploited the system and stole over 17,400 ethereum coins. However, the stolen funds were returned voluntarily without any ransom demand.

🔒 Security Measures and Reward Distribution

Munchables took immediate action upon detecting the breach, including blocking transactions related to the compromised assets. The team reassured users that their funds were secure and that the distribution of all Blast-related rewards would continue without interruption.

⚠️ Developer Vigilance and Cooperation

Initial reports suggested a serious breach with a rogue developer gaining high-level access to the Munchables system. There were concerns about possible external involvement. However, the situation was quickly resolved when the former developer cooperated and shared the private keys necessary for recovering the stolen funds.

🛡️ Successful Recovery, No Ransom

In an unexpected turn of events, the former developer voluntarily returned all the stolen funds without demanding any ransom. This allowed Munchables to retrieve all the lost funds successfully.

🔑 Community Support and Enhanced Security

The incident highlighted the importance of robust security measures. A user associated with Blast emphasized learning from the incident and enhancing security protocols. The user also pledged support to the Munchables team in returning the funds safely to the affected users.

🤝 Resilience and Collaboration in the Crypto Community

The quick resolution of the Munchables incident demonstrates the resilience and collaborative spirit within the crypto community. It serves as a valuable lesson, emphasizing the need for proactive security measures and swift response mechanisms to protect user funds and maintain trust in Web3 ecosystems.

Stay up-to-date with AI.

The Rundown is the world’s fastest-growing AI newsletter, with over 500,000+ readers staying up-to-date with the latest AI news and learning how to apply it.

Our research team spends all day learning what’s new in AI, then distills the most important developments into one free email every morning.

Sign up with one click.

Dogecoin Whales Stir Up the Market

As Bitcoin (BTC) slows down, Dogecoin (DOGE) is gaining momentum, delighting the DOGE community. Amidst this surge, crypto whales are making significant moves.

🌊 Whales on the Move

Data from Whalealert shows unidentified wallets moving about 1.68 billion Dogecoins (around $396 million) across exchanges in the last 24 hours. The largest transaction involved nearly 300 million DOGE (about $66.5 million).

A significant portion of these transactions involved the Robinhood crypto exchange. Around 492 million DOGE was transferred from Robinhood to unknown wallets, valued at over $107 million, indicating whale accumulation.

However, about 800 million Dogecoins flowed into Robinhood from unknown wallets, totaling $176 million. This suggests some whales might be selling their holdings during DOGE’s price rally.

🐋 Whale Tactics

One whale moved 50 million DOGE (worth $10.6 million) to the Coinbase exchange, showing a strategic move to diversify across different platforms.

🚀 Meme Coin Mania

DOGE has surged by over 8% in the past 24 hours and 32% over the past week, outperforming Bitcoin’s 5% increase. With an average price of $0.21, DOGE’s trading volume has increased by 17% to reach $5.8 billion, making it the top meme crypto with a market cap of $30.6 billion.

Data from Coinglass shows a 32.89% increase in open interest for DOGE, now totaling $2.17 billion. This interest is mainly on major crypto trading platforms like Binance, Bybit, and BingX.

DOGE’s price and trading volume momentum is partly driven by rumors of its potential integration into X (formerly Twitter) for crypto payments, fueling the meme coin mania.

CAN YOU PREDICT THE PRICE?

HOW DID WE DO? 🤷

Stay tuned for more twists and turns in the crypto world & Happy Investing🚀💎