Over the past few weeks, a lot has happened in the cryptocurrency world, including the BTC ordinal frenzy, a rise in ADA transaction volumes, and Solana’s most recent ChatGPT integration. These three events and more were covered by Altcoin Buzz’s most recent market analysis.
Huge amounts of enthusiasm around the introduction of ordinals to the Bitcoin (BTC) community. As a result, Altcoin Buzz noted that the monthly buying and selling volume for these NFTs housed on BTC was more than that of NFTs hosted on Solana. This placed the total amount of transactions with BTC ordinals as the second largest, only behind transactions involving NFTs stored on Ethereum.
Along with the significant NFT trading volume on the Bitcoin community, BRC-20 tokens also crossed a significant threshold. The total market capitalization of these tokens had surpassed $1 billion at the beginning of the month. According to Altcoin Buzz, there has since been a modest fall in the combined market worth of BRC-20 tokens, bringing the total down to $477 million.
Recently, Solana (SOL) has also made news of becoming the first Layer-1 community to integrate with ChatGPT plugins. According to reports, this connection reportedly enables a variety of capabilities, including buying NFTs, carrying out token transfers, reviewing transactions, studying account information from the public, and looking for NTF collections by flooring prices.
Following this integration, Solana introduced a rolling funding programme to support several initiatives focusing on the secure integration of AI with existing and future Solana products. According to Altcoin Buzz, the award has already amassed 50 functionalities.
On-chain indicators for Cardano (ADA) indicate that traders are optimistic about the Ethereum competitor in the interim. According to the most recent data from IntoTheBlock, ADA transactions have increased by more than 200% since the year’s beginning. Additionally, it’s anticipated that more than $200 billion in ADA is traded every day.
Whales are also working hard to accumulate ADA. The amount of web traffic from ADA whales has increased 15% during the last two weeks.
After that, Altcoin Buzz discussed Binance, the primary cryptocurrency exchange, in their most recent video. Recently, the exchange platform was out of the spotlight because of Reuters’ allegations that the company was combining company money with consumers’ assets.
In response to the accusations, Binance stated that they have always kept separate ledgers for company and client cash. Furthermore, they stated that the money mentioned in Reuters’ assertions belongs to the company and was obtained via the sale of Binance USD.
Finally, the American transformation Officially launching its wallets as a service for the general public is Coinbase. With this service, consumers will be able to reactivate their wallets using just their login and password since each wallet will leverage Coinbase’s Multi-party Computation technology. Consequently, the need for a seed phrase is eliminated.
