Market Summary

Market Summary 17 May 2024

Bitcoin Price: US$ 65,257.47 (-1.39%) 
Ethereum Price: US$ 2,944.70 (-2.90%) 

The Depository Trust and Clearing Corporation (DTCC) and Chainlink have completed a pilot program with major U.S. banks to increase traditional finance fund tokenization, which could support future industry exploration and numerous downstream use cases. Following the DTCC’s report, Chainlink’s native token rose 12.5% and has gained over 130% in the last 12 months. Meanwhile, the French securities regulator, Autorité des Marchés Financiers (AMF), has reiterated a warning that Bybit, a crypto platform, is blacklisted in the country for operating illegally and offering digital asset services on behalf of third parties. Despite regulatory scrutiny, Bybit, one of the world’s largest crypto exchanges, has continued expanding its service globally. In another development, physicists at Harvard University have built what they believe is the world’s longest secure quantum communications network using 22 miles of existing fibre-optic cables, a breakthrough that could significantly impact the decentralized finance community by securing digital assets such as cryptocurrency against all forms of network-based attacks. 

Ethereum co-founder Vitalik Buterin has stated that OpenAI’s GPT-4 has passed the Turing test, a benchmark for determining if an AI can mimic human conversation convincingly. This assertion follows research from the University of California San Diego, where GPT-4 was mistaken for a human 56% of the time by around 500 test subjects. Meanwhile, crypto venture funding is surging amid a market rally, with firms like Aquarius launching a $600 million liquidity fund to support blockchain projects. April and March 2024 saw over $1 billion in crypto VC funding each month, reflecting renewed investor confidence. Additionally, Tether has partnered with The Open Network (TON) and the Oobit mobile app to facilitate USDT-to-fiat transactions, enhancing accessibility for unbanked populations. These developments signal significant advancements and growing investments in AI and cryptocurrency technologies. 

Over the past week, over 600 firms disclosed significant investments in spot Bitcoin ETFs, totalling $3.5 billion, according to SEC filings. Leading investors include Millennium Management with $1.9 billion and Schonfeld Strategic Advisors with $479 million. Despite initial high demand for spot Bitcoin ETFs launched in January, recent inflows have decreased. Concurrently, Binance developed an algorithm to combat address poisoning scams, identifying millions of spoofed addresses to protect users. This development follows a $68 million scam, highlighting the importance of enhanced security measures. Meanwhile, Vanguard’s incoming CEO Salim Ramji reaffirmed the firm’s stance against launching a Bitcoin ETF, emphasizing consistency with its investment philosophy, despite customer demand and competitor success in the crypto ETF market. Vanguard’s position contrasts with rivals like BlackRock, which has seen significant inflows into its Bitcoin ETF. 

Source: https://cointelegraph.com 

Disclaimer: The following summaries are provided for informational purposes only and are not intended to infringe upon any copyrights. All rights to the original content belong to their respective owners, and the summaries are intended to provide a brief overview of the content. If you are the owner of any of the content summarised here and have concerns about its use, please contact us to discuss the matter further. 

Search All Articles

Related Articles

1

Monday 11 November 2024

Market Summary
Bitcoin Price: US$ 80,397.23 (+4.79%)  Ethereum Price: US$ 3,183.21 (+1.82%) 
25

Friday, 8 November 2024

Market Summary
Bitcoin Price: US$ 75,915.04 (+0.46%)  Ethereum Price: US$ 2,895.47 (+6.38%) 
24

Thursday, 7 November 2024

Market Summary
Bitcoin Price: US$ 75,567.98 (+8.99%)  Ethereum Price: US$ 2,721.87 (+12.36%) 
23

Wednesday, 6 November 2024

Market Summary
Bitcoin Price: US$ 69,331.84 (+2.22%)  Ethereum Price: US$ 2,422.55 (+1.01%)