New AI crypto assistant

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🤖 CoinMarketCap Unveils an AI Crypto Analyst

CoinMarketCap has introduced a new AI tool designed to function as a crypto analyst for users.

This development is credited to ChatGPT's latest upgrade, allowing it to access the internet and source real-time information. Previously, ChatGPT could only access data up to September 2021. The AI tool can now instantly answer complex questions using CoinMarketCap's real-time crypto data through chat prompts. It can provide insights on inter-crypto connections, Bitcoin's optimal performance days, and the impact of global events on cryptocurrency trends.

🐳 Different Behaviors of BTC and ETH Whales

Recent market analysis has shown contrasting behaviors between Bitcoin and Ethereum whales.

BTC whales maintain their holdings, demonstrating their trust in the cryptocurrency. In contrast, ETH whales are selling off significant portions of their holdings. Amidst this trend, a prediction by analyst Benjamin Cowen suggests a 40% decline in Ethereum's value against Bitcoin. The prediction is based on the current decline in the ETH/BTC ratio and its potential repercussions.

📊 Alameda's Shocking $38 Billion USDT Redemption Revealed

Coinbase director Conor Grogan has highlighted that Alameda Research redeemed over $38 billion of USDT tokens in 2021.

This figure seems inconsistent with their assets under management. Meanwhile, Caroline Ellison, former CEO of Alameda Research and ex-girlfriend of Bankman-Fried, has testified in court, alleging Bankman-Fried's involvement in criminal activities related to the cryptocurrency exchange FTX. This testimony could significantly influence the trial's outcome against the FTX co-founder, shedding light on alleged wrongdoings and possibly impacting the broader cryptocurrency industry.

🚨 Is the Real Estate-Backed Crypto Stable?

Real USD (USDR), a real estate-backed stablecoin on the Polygon platform, experienced a dramatic 50% drop in value within hours on Wednesday.

The sudden redemption of all DAI from the USDR treasury triggered panic selling, leading to a significant devaluation of the stablecoin. Tangible DAO, the team managing the project, emphasized that while there's a liquidity issue, the real estate and digital assets backing the stablecoin remain intact. Presently, the USDR is trading at $0.53. Notably, earlier in the month, crypto trader Valentin Mihov cautioned about USDR's potential vulnerabilities.

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