Advertisement

Loading...

🤖Investors Pile Into Surging AI Tokens

the-defiant

GM Defiers!

AI tokens are among the top performing web3 sector of the past four months. The sector’s combined capitalization has ballooned nearly 800% since mid-October.

In other news, MakerDAO hiked its DAI stability fees by more than 140% after facing nine-figure outflows from its reserves, retail investors have returned to crypto amid the rocketing digital asset rally, and Injective launched a virtual machine facilitating smart contract interoperability between Ethereum, Solana, and Cosmos.

Plus, a proposal paving the way for Uniswap to distribute fee revenue to tokenholders was again rejected by the project’s governance.

✍️ In today’s newsletter:

  • AI token market cap up 800% in four months
  • MakerDAO jacks DAI fees by 9x
  • Web traffic trends show retail crypto interest rebound
  • Injective launches inEVM
  • Latest Uniswap fee-switch proposal shot down

🙏Sponsored

📈 Markets in the last 24 hrs:

TickerValue24h
Bitcoin$68,470-0.06 %
Ethereum$3,842 -1.88 %
Gold 1st Future$2,179 0.95 %
S&P 5005123.69 -0.65 %
Arch Web33.32 3.25 %
Learn more about Arch Indices ,[object Object]%

🎬 WATCH

Check out our interview with Jordi Alexander, the founder of Selini Capital, to get his tips on navigating the web3 markets. Also watch our podcast with Guy Young, the founder Ethena Labs, to learn about its controversial high-yield stablecoin USDe.

⬆️ AI Tokens Outperform As Crypto Markets Continue To Post New Highs

the-defiant

AI tokens are on fire, with the sector’s market cap rallying 800% since Oct. 20. The four largest AI tokens have all gained more than 400% over the same period, with the segment recently being buoyed by OpenAI unveiling Sora, its text-to-video model.

💵 MakerDAO Hikes Fees More Than 140% To Prevent ‘DAI Demand Shock’

MakerDAO has more than doubled the stability fees for DAI mints in a bid to slow a recent spate of massive outflows from the protocol. The DAI Savings Rate has also been tripled from 5% to 15% in a bid to encourage DAI holding.

💰 Retail Investors Are Cautiously Returning To Crypto

Web traffic trends suggest many retail traders have returned after the bear market subsided, with research showing that the number of visitors to exchanges and crypto data aggregators jumping 45% and 66% respectively. Google search traffic also shows an uptick in mainstream crypto interest, while Coinbase is climbing up app rankings.

SPONSORED POST

the-defiant

SynFutures is seeing massive gains following its recent V3 launch. The trending DeFi project has attracted over 250,000 registrations, reaching $90 million in 24-hour trading volume just days after deploying on Blast mainnet.

The traction is attributed to SynFutures releasing an innovative new AMM model, oAMM, which combines a concentrated liquidity AMM with an onchain order book for higher capital efficiency. SynFutures also launched its new points program, Oyster Odyssey (OO), following confirmation of its plan to launch a token. In addition to earning points on OO, users can gain Blast and Blast Gold points for interacting with SynFutures V3, tripling the airdrop rewards potential and potentially driving increased speculation and growth.

Start trading on SynFutures V3.

READ MORE: SynFutures Launches Orderbook AMM and Points Program Ahead of Token Launch

🪐 Injective Launches inEVM Compatible with Solana and Cosmos

Injective has launched inEVM, a Layer 2 rollup and virtual machine offering interoperability for Ethereum developers across the Cosmos and Solana networks. The move comes as an increasing number of developers are looking to achieve cross-chain interoperability without relying on bridges.

🦄 Uniswap Governance Shoots Down Fee Switch Proposal, Again

Uniswap governance has voted against making changes to the protocol’s fee mechanism that would pave the way for the project to distribute revenue to UNI tokenholders. The vote was shot down with almost 60% of votes opposing the measure, following previous fee-switch proposals that were unsuccessful.

🌍 ELSEWHERE

  • Bitcoin Miners Are Devouring Energy at a Record Pace During the Crypto Runup (Bloomberg)
  • Bitcoin CME Futures' Open Interest Reaches Record High of $10B (CoinDesk)
  • London Stock Exchange to start accepting bitcoin, ether ETN applications in Q2 (The Block)

🔥 TRENDING