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2023 has been a fantastic year for the cryptocurrency market while recovering from 2022’s bear market. Now, 2024 is just around the corner, with investors expecting a continuation of the bull market. With that in mind, Finbold turned to ChatGPT’s AI, looking for valuable insights on promising cryptocurrencies for the next year. Interestingly, we used the latest available model from OpenAI, GPT-4 Turbo. In particular, the NanoGPT chatbot allows for crypto payments per each prompt and generated output. At first, ChatGPT named Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) as the three promising cryptocurrencies for 2024. However, these are already among the top four projects by market capitalization, and we wanted the AI to go further. Therefore, here is what we asked in the second request: You are a financial analyst. Pick 1 promising crypto currency to invest in for the start of 2024 for three different investors’ profiles: Conservative, aggressive, and very aggressive. Focus ...

While Bitcoin and prominent altcoins like Ethereum have dominated headlines, several lesser-known tokens have quietly staged bullish technical setups. According to market analysts, these under-the-radar altcoins show strong potential for breakouts and upside in early 2024. Also read: How High Can Solana (SOL) Surge in January 2024? Reserve Rights Rallies Above Long-Term Resistance Reserve Rights (RSR), the native token of a decentralized stablecoin protocol, has surged over 162% against the U.S. dollar since breaking a multi-year downtrend resistance in October 2023. RSR managed to slice through the descending trendline that had suppressed prices since April 2021. This high-volume move propelled RSR to clock a new yearly high of $0.0053. Bulls still retain control, with the weekly Relative Strength Index (RSI) holding above 50. RSR appears poised to continue its uptrend towards the next target at $0.01. Source: Tradingview Status Gears Up After 900-Day Downtrend Break ...

Bitfinex predicts a booming crypto year in 2024, with a potential market valuation as high as $3.2 trillion. However, Bitfinex highlighted that the trajectory toward the multi-trillion dollar valuation is not straight. Bitcoin is expected to lead the charge, driven by a shift in sentiment from fear to greed and the influx of institutional investors. Bitfinex has published a  new forecast, arguing that the overall crypto market could clock a $3.2 trillion valuation next year. A significant factor contributing to this projection was the shifting sentiment about the future of Bitcoin. Bitfinex analyzed various metrics and indicators, noting that assessing their performance at comparable stages in the crypto market cycle proves insightful. It discovered that public sentiment towards crypto has moved from extreme fear to greed. The trading platform argued a significant likelihood of an extended period in the “extreme greed” sentiment into 2024.  ...

In a new controversial proposal , Vitalik Buterin suggests decreasing the number of PoS validators from nearly 1 million to just 8,192 to reduce complexity. In a new proposal released on Dec. 27, Ethereum (ETH) co-founder Vitalik Buterin has outlined a plan to dramatically simplify Ethereum’s proof-of-stake (PoS) system to reduce complexity and expand the design possibilities. The current PoS system attempts to support decentralization by allowing many validators — currently almost 900,000. However, Buterin argues that this creates significant complexity, sacrifices, and constraints while still not fully achieving the goal of accessibility for small-scale stakes due to the 32 ETH minimum requirement. Instead, Buterin proposes reducing the number of signatures per slot to just 8,192 from the current plan of over 1.7 million. This would enable major simplifications across Ethereum, make it much easier to transition to quantum resistance, and retain a cost for attacks between 1-2...

Ethereum Co-Founder Vitalik Buterin proposes a significant simplification of the Proof of Stake (PoS) consensus mechanism. The proposal aims to reduce the required signatures per slot to 8,192. Ethereum’s current decentralized nature accommodates 895,000 validators. In a recent proposal, Ethereum Co-Founder Vitalik Buterin has suggested a significant simplification of the Proof of Stake (PoS) consensus mechanism. The proposal aims to streamline the process by reducing the number of required signatures per slot to 8,192, raising questions about the potential centralization of the Ethereum network. Buterin Attempting Ethereum currently accommodates an extensive validator network, reaching 895,000 entities. Buterin’s proposal acknowledges the challenges posed by this approach, particularly the high number of signatures required per slot. It currently stands at approximately 28,000 today and is expected to rise to 1,790,000 post-Single Slot Finality...

XRPL’s inability to handle ordinals like Bitcoin’s network raises questions about its technical capacity. Network strain from XRPL’s inscription attempts exposes significant transaction speed and scalability discrepancies. The XRPL inscription issue offers an unplanned but revealing stress test, highlighting the need for network improvements. Recent discussions on X (formerly Twitter) have revealed that the XRP Ledger (XRPL) is technically incapable of supporting ordinals and their inscriptions. Richard Holland and Crypto Eri have criticized projects attempting to mint ordinals on the XRPL, labeling them impractical and spam. We now have more real-world live XRPL performance results after the past 24 hours. If you missed it The XRPL cannot support ordinals or their inscriptions. Projects that *mint* ordinals on the XRPL are nonsensical spam. – @RichardXRPL #50https://t.co/Wt8kSrdzr0 pic.twitter.com/M0KXZeQj4k — Crypto Eri 🪝Carp...

Top crypto venture capitalists express optimism for 2024’s funding landscape. Bullish sentiments were on gaming and AI with web3 components, attracting investments. There are also expectations for new players in neobanks, DeFi, payment apps, and DEXs Crypto funding faced a challenging year in 2023, experiencing a sharp 68% decline to $10.6 billion compared to the previous year’s $33.2 billion. Despite this setback, in a recent interview with The Block, top crypto venture capitalists are expressing optimism about the funding landscape in 2024. Coinbase Ventures, a major player in the crypto exchange realm, remains “increasingly optimistic” about 2024. The firm anticipates global growth driven by regulatory clarity, maturing protocols, and innovation. Meanwhile, Galaxy Ventures, led by investor Mike Novogratz, stays vigilant yet committed to early-stage projects. General Partner Mike Giampapa acknowledges ongoing challenges, hinting a...

Considering the current market conditions, the quest to become a Chainlink millionaire demands a meticulous strategy and timely initiation. Amid the current market conditions, seizing the opportunity to acquire Chainlink today holds the promise of substantial gains. However, the question remains: how much LINK is needed to secure a million-dollar fortune? As of the latest market update, Chainlink is valued at $15.74. In addition, $541,087,495 worth of LINK was traded on exchanges within the past 24 hours. For aspiring LINK millionaires eyeing the $1 million mark for $50 per coin, the formula is clear: divide the desired target of $1,000,000 by the price of $50. This arithmetic translates to the acquisition of 20,000 LINK. Also read: How Much SHIB Do You Need to Become a Millionaire if it Hits $2? How much LINK do you need to become a millionaire if the price hits $50? To determine the current cost of this strategic investment, the quantity of LINK (20,000) is multiplied by t...

As 2023 is drawing towards its end, some assets in the cryptocurrency market are still increasing their prices while others are slowing down their gains from previous weeks, including Dogecoin (DOGE), leaving investors to wonder whether it would manage to rally to the coveted level at $1 in 2024. Indeed, Dogecoin started to improve its price in late November, steadily climbing from $0.073 to the psychologically important zone at $0.10 zone, at which it peaked several times in early December, only to slow down and consolidate at $0.093, where it is changing hands at press time on December 26. Dogecoin 30-day price chart. Source: Finbold Can DOGE surpass its ATH? That said, DOGE reach ed its all-time high (ATH) at $0.73 back on May 8, 2021, which means that the famous dog-themed meme cryptocurrency could get rather close to the $1 price mark again. However, reach ing $0.73 again would require an increase of 685%, or 975%, for the $1 level, albeit this is not impossible. As it happe...

A widely followed crypto analyst says that another rise of over 3x is in the cards for one red-hot altcoin that has already skyrocketed about 1,000% since the start of the year. In a new video update, the anonymous host of InvestAnswers tells his 461,000 YouTube subscribers that the smart contract platform Solana (SOL) could still see a significant price rise going forward. According to the strategist, he sees Solana’s dominance rising to 3% and the total market cap of crypto ascending to $5 trillion. SOL dominance is a metric that tracks how much of the total crypto market cap belongs to the Ethereum (ETH) rival. The analyst notes that Solana’s growing dominance combined with the rising total crypto market cap could mean that SOL may hit a price tag well above $300. “SOL dominance it’s already at like 2.4%, 2.5%. Could it hit 3%? Yes – if that’s the case, 3% of 5 trillion is $150 billion, which takes the price of Solana to $363. Well, I’m goin...

Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. At their inception, the power of cryptography and cryptocurrencies was their separation from centralized control that has fed inequality in our financial systems for millennia. Fast forward to 2023, and centralization has seen the downfall of some of the industry’s most prominent and brightest stars, from Changpeng Zhao exiting Binance, Sam Bankman-Fried and FTX saga, Terra’s Luna to BlockFi, the space has been stifled with corruption and egregious errors at the hands of a few, forever changing the web3 landscape. Un-governance is the key to the next cycle of decentralization and the only way to secure the future of cryptocurrencies and decentralized finance. You might also like: Decentralized finance is changing our everyday lives | Opinion So, what is un-governance?   At the heart of un-governance is the unwaverin...

Dec 23, 2023 at 06:19 // Price Author Coin Idol Ethereum (ETH) has held above the critical support level of $2,000 but is struggling to break through the $2,280 or $2,300 peak. Long-term analysis of the Ethereum price: bullish The largest altcoin has been trying to break above the $2,800 resistance in the last 48 hours. The recent price action saw Ether fall below the 21-day SMA to a low of $2,118, but the bulls bought the dips. Today, the price of the cryptocurrency surpassed the 21-day simple moving average. Ether will rise if the 21-day SMA support holds. ...

Bitcoin (BTC) transaction fees have increased in the last weeks, recently crossing yearly highs . On December 6, a Bitcoin transaction fee surpassed the average global daily income of $26.66. Essentially, fees might rise when the network reaches saturation, which is relatively low on Bitcoin due to its protocol design. Users outbid each other to have their transaction s confirmed first, and these dynamics increase the average or minimum network fees. In particular, the average Bitcoin transaction fee reached a new yearly high at $37.43 on December 17. Finbold retrieved this historical data from BitInfoCharts on December 21, with the average fee at $31.61 per transaction .  Previously, Bitcoin fees peaked at $31.14 on May 8 for a single day, immediately retracing back to $3.7. However, this time is different as the average transaction fee has consistently risen and kept its higher levels. Bitcoin average transaction fee, historical chart. Source: BitInfoCharts Bitcoin avera...

Chainlink Labs has unveiled prize winners in six categories, each focused on solving a specific task in the Web3 ecosystem. In a blog announcement on Dec. 20, the developer of the Chainlink decentralized oracle network said it had granted the main $25,000 prize to Unwallet.me, a seedless and gasless multi-chain crypto wallet. The product leverages the so-called account abstraction mechanism to create seedless wallets, allowing them to connect to different blockchain networks in a single domain name. Unwallet.me supports cryptocurrencies across various distributed ledgers, denominated in fiat, with the help of Chainlink Price Feeds oracles. “Constellation was our best, most successful hackathon to date, both in terms of quality and quantity.” Harry Papacharissiou, developer advocate manager at Chainlink Labs. You might also like: Chainlink debuts price feed oracles on Polygon zkEVM In the “DeFi and Payments” category, Chainlink awarded the first...

Tether has blocked six new wallets on the Ethereum network, likely due to being linked to the Russia Finiko ponzi scheme .  According to blockchain intelligence firm ChainArgos, the wallets might have made suspicious transfers to Finiko-linked addresses. However, no other noticeable suspicious transactions were observed from these addresses. 1/4 @Tether_to just blacklisted 6 new wallets: On Ethereum: – 0x691169914a13465bd9528292f8fbdd0301354941 – 0x6d82a3743261e0ac77116f4cf153338bec3c69c6 – 0x016a2046689fc94eec7d23545693bc7b81dbabd1 – 0x873e288d432d1e8dd93defa63406fd9a80580491 -… — ChainArgos (@ChainArgos) December 20, 2023 You might also like: Coinbase CEO considers anti-crypto bills as ‘bad political strategy’ Finiko was a pyramid scheme launched in Russia in 2018, which saw victims lose up to $95 million. Last year, Interpol arrested the scam leader, Edvard Sabirov, in the UAE. However, several other members of the scam are still a...

Victoria, Seychelles, December 20th, 2023, Chainwire Bitget, the world’s leading cryptocurrency exchange and Web3 company, is thrilled to announce the exclusive initial listing of OVAL3 (“OVL3”), the world’s first Rugby Web3 game token. This marks another milestone in Bitget’s commitment to bringing unique and groundbreaking projects to its platform. OVL3 stands at the intersection of sports and digital entertainment, offering enthusiasts a revolutionary gaming experience. It introduces players to a new dimension of collecting, playing, and winning official digital cards within an immersive Rugby gaming ecosystem. OVL3 is a pioneering endeavor into the future of fantasy rugby. Utilizing Web3 technology, OVL3 provides both a free version for enthusiasts and a Web3 version with NFT elements for those seeking a more immersive experience. Players can craft their fantasy rugby teams, incorporating real players whose on-field performances...

A prominent digital asset venture capitalist is warning that Bitcoin (BTC) could soon fall below a key support level. Chris Burniske, the founder of Placeholder Capital, tells his 269,900 followers on the social media platform X that if Bitcoin decides to take a breather, it will likely dip below $40,000. “If we reset and go for full consolidation, then BTC breaking beneath $40,000 is a foregone conclusion; it’s more what we do in the mid-to-low $30,000s that’s an open question – and no, I won’t ‘trade’ this, I’m still just an accumulator if and when prices get tasty again.” Pseudonymous crypto analyst Inmortal is also suggesting Bitcoin will dip below $40,000. He believes that if Bitcoin corrects, the crypto king will find support at the $37,700 level before bouncing. “I like $37,700. Trendline + monthy open confluence.” Source: Inmortal/X Bitcoin is trading for $43,080 at time of writing, up 5.36% in the last 24 hours. Burniske also ...

Metaplex announced the launch of Metaplex Inscriptions and Engravings on X yesterday. Metaplex inscriptions allow people to store an asset’s metadata and media fully on Solana. Over the past 24 hours, the price of SOL rose by over 2%, which left it trading hands at $74.46. Metaplex, a leading digital asset protocol on Solana (SOL), took to X yesterday to announce the launch of Metaplex Inscriptions and Engravings. This new product will change the way NFT data is stored on the blockchain. 1/ Introducing Metaplex Inscriptions and Engravings, a new standard for fully on-chain and immutable digital assets on Solana 🦾 — Metaplex 🦾 (@metaplex) December 18, 2023 Currently, most NFTs on Solana have their media stored on external services like Arweave, IPFS, and S3. In other words, an NFT’s image or metadata is technically not stored “on Solana”, and is therefore dependent on another system completely. Now, Metaplex inscriptions allow people to stor...