Happy Friday,
It was a calm day for crypto.
Bitcoin bounced around $52,000. Ethereum inched to $2,790. Solana stumbled to $109, and Polygon popped to $0.9393.
Here are the main stories we’ll cover in today’s issue…
LivePeer popped +69% as OpenAI’s generative text-to-video swept across social.
Sui secured more assets from Ethereum than all other blockchains combined.
Coinbase created an NFT commemorating its earnings release.
Bitcoin mining metrics marched to new highs, and the Board Ape Yacht Club creator acquired Moonbirds.
Here are the most active crypto streams on Stocktwits since Friday, sorted by message volume.
| Bitcoin (BTC) | $51,995 | +0.58% |
| Dogecoin (DOGE) | $0.08553 | +0.35% |
| LCX (LCX) | $0.2764 | -0.06% |
| Shiba Inu (SHIB) | $0.000009809 | -1.20% |
| XRP (XRP) | $0.5647 | -0.12% |
| Internet Computer (ICP) | $13.00 | -2.79% |
| Arcblock (XRP) | $1.18 | -0.40% |
| Solana (SOL) | $109.40 | -2.98% |
| Sperax (SPA) | $0.01083 | +8.62% |
| Chainlink (LINK) | $19.49 | -1.87% |
Livepeer ($LPT.X), a video infrastructure network for live and on-demand streaming, surged +69% and ticked its highest price since August 2022.
The rapid rise may be attributed to the release of OpenAI’s Sora, a generative AI text-to-video model.
Videos of Sora swept across social, and LivePeer stoked the flame. The company retweeted OpenAI’s release, commenting,
“Today, OpenAI revealed their research progress on the Sora generative video AI model, with some impressive demonstrations.
This helps show the world how powerful generative video can be, and progress on open models is moving faster than ever. But generating these videos requires massive GPU computing power and can be expensive.
As part of Livepeer’s AI Video initiative, the community is working to bring these capabilities to the Livepeer network in the coming months, creating affordable and open access points to developers, creators, and users looking to do inspiring things with generative video.”
Here’s a look at the big green candle.
DeFi
🤝 ETH to SUI
According to Wormhole, a cross-chain bridge for wrapped tokens and NFTs, more than $310M in assets migrated from Ethereum to the Sui ecosystem. The funds sent to Sui exceeded all other blockchains combined.
Since Sui’s inception 9-months ago, the layer-1 blockchain has already surpassed $580M in Total Value Locked and amassed a $2B market cap.
Join the conversation on the Stocktwits $SUI.X stream here.
Coinbase created a “COIN Earnings” NFT collection to accompany its quarterly earnings report and shared,
“Coinbase earnings results are now onchain. Mint these NFTs every quarter to commemorate each milestone in our ongoing effort to bring economic freedom to the world.
NFTs in this collection are open mints and have no intended monetary value.”
Below is the Q42023 NFT infographic. COIN enthusiasts may mint the token here.
Bitcoin’s mining difficulty registered an all-time high of 81.73T. The mining difficulty measures how hard it is to solve the mathematical problems to mine a block. Analysts estimate the mining difficulty could exceed 100T before the upcoming halving in late April.
Bitcoin’s hash rate has also run — up and to the right. This metric refers to the total computational power provided by bitcoin miners.
The strength in mining difficulty and rising hash rate is evidence of bitcoin’s fast-growing ecosystem.
Board Ape Yacht Club creator Yuga Labs acquired Proof, creator of the Moonbirds NFT collection.
The company said it will merge Moonbirds into its gamefied metaverse, the Otherside.
Daniel Alegre, Yuga Labs CEO, commented on the acquisition,
“As a company committed to championing art, culture, and community on the blockchain, we’re excited to have PROOF join the Yuga ecosystem.”
The details of the deal were undisclosed.
Bullets
Bullets From The Day:
🤺 Attacks on Bitcoin and Ethereum are economically unfeasible. A recent research paper reported that the theoretical costs to successfully attack Bitcoin or Ethereum far outweigh the benefits.
💰 Bitwise’s bitcoin ETF $BITB breaks $1B. Bitwise became the 5th US spot bitcoin ETF to surpass 10-figures.
🏦 Genesis to Sell $1.6B GBTC. A US bankruptcy judge granted Genesis permission to sell stakes in $GBTC, $ETHE, and $ETCG in order to repay its creditors.
📉 Crypto money laundering retreats. Cryptocurrency laundered in 2023 was ~30% less than the prior year.
Links
Links That Don’t Suck:
📺 Watch OpenAI’s Sora Make Lifelike Videos Just From Text and Descriptions
🖼️ From Anatomy to Auction Houses: Grant Riven Yun’s $2 Million Art and Medicine Journey
🕹️ Solana’s GameStop Meme Coin Plummets 70%—But GME Isn’t Dead Yet
💻 Uniswap V4 launch, featuring ‘hooks,’ tentatively set for Q3
🌲 ‘This AI Model Will Be The Voice of Nature’ Refik Anadol on his Exhibition at Serpentine Galleries
Say Hello
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