Bitcoin Stabilizes Under $27K, ChatGPT CEO Advances Cryptocurrency Initiatives With $115M Fundraising: Weekly Summary

The cryptocurrency market experiences thrilling weeks, and then there are periods like the previous one. It seemed as though the last seven days were characterized by a continuous fluctuation for Bitcoin, oscillating between $26K and $27K without any clear trend.

The market is trading roughly at the same level as last week, currently valued at $1.17 billion according to data from CoinGecko. This stability follows minor shifts in major cryptocurrencies such as Ethereum, Binance Coin, XRP, Cardano, and others. In fact, Bitcoin’s market dominance remains nearly unchanged from the previous week, indicating that the market has stayed relatively balanced.

This is not to imply that noteworthy events did not occur elsewhere. Sam Altman, the CEO of OpenAI (the developers of ChatGPT), successfully completed a series C funding round amounting to $115 million for his cryptocurrency-oriented project named Worldcoin.

Indeed, it appears that high-resolution retina scans are on the horizon.

Additionally, Do Kwon, the notorious founder of the failed Terra ecosystem, was denied bail. This development is particularly intriguing as it follows initial reports suggesting that the Montenegrin government was ready to grant him bail set at over $400K. Ultimately, the bail was rejected, meaning he will continue to be held in the local detention facility.

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We have also engaged in several intriguing discussions with ChatGPT that you may find interesting. For example, we inquired about the potential impact on Bitcoin’s price during and after the upcoming halving in 2024, and the response was quite thought-provoking.

Overall, the past week did not yield much excitement, but it could very well be the calm before a significant shift. One thing is certain: the cryptocurrency markets tend to avoid prolonged dormancy, so a substantial movement may be imminent.

Market Data

Market Cap: $1,170B | 24H Vol: $34B | BTC Dominance: 44.3%

BTC: $26,807 (-0%) | ETH: $1,833 (+1.3%) | BNB: $307 (-0.7%)

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Bitcoin’s 13th Pizza Day: Reflecting on the Transaction that Changed Crypto History. Another year has gone by, and it is once again time to commemorate Bitcoin Pizza Day. We reflect on the transaction that fundamentally altered the course of crypto history.

$115M for Worldcoin Secured: ChatGPT, OpenAI CEO Closes Successful Fundraiser. Sam Altman, the CEO of OpenAI, has successfully finalized a $115 million funding round for his cryptocurrency-focused initiative known as Worldcoin. The creator of ChatGPT is now venturing into the cryptocurrency domain.

Terra Co-Founder Do Kwon Denied Bail By Montenegro Court. Do Kwon, the co-founder of the collapsed Terra blockchain, has been denied bail after initially receiving approval for release at approximately $430K. He will remain incarcerated in Montenegro.

ChatGPT Predicts What Will Happen With BTC’s Price During and After the 2024 Bitcoin Halving. We decided to consult ChatGPT regarding its perspective on Bitcoin’s price during the upcoming halving event in 2024. The response may surprise you.

MATIC Addresses on Polygon Explode to 2-Year Highs: Data. The growing adoption of proof-of-stake is evident in a significant shift within the industry. While Ethereum appears to dominate discussions, Polygon has experienced a surge in MATIC addresses, reaching a two-year peak.

Charts

This week, we provide a chart analysis of Ethereum, Ripple, Cardano, Tron, and Litecoin – click here for the complete price analysis.

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