Crypto Market Weekly Wrap-Up: A Glimpse into Market Dynamics

 

The Week in Crypto (January 9 – January 15, 2024)

 

Major Developments in the Crypto Space

This week brought forth significant events in the crypto world, with major US exchanges filing their final Bitcoin ETF applications, sparking anticipation across the industry. A forecast suggests crypto users may surpass $1 billion in 2024, backed by insights from Bitfinex analysis.

Bitcoin’s Milestones and Regulatory Landscape

Bitcoin’s 15th Birthday and Regulatory Moves

As Bitcoin celebrated its 15th birthday, it marked a remarkable surge with over 90,000 wallets worth $1 million or more – a 300% increase since the beginning of 2023. BlackRock’s expectation of Bitcoin ETF approval heightened market expectations. Simultaneously, a US court ordered a $2.7 billion settlement from Binance to CFTC.

Investments and Institutional Inflows

Crypto Investment Products and Inflows

Crypto investment products witnessed total inflows of $2.2 billion in 2023. Zerocap’s recent launch of the Bitcoin Discount Note, catering to wholesale investors, provided a unique opportunity for a discounted position in Bitcoin.

 

Global Perspectives on Crypto Assets

International Insights: China, Japan, and Global Investments

China’s central bank called for proper global regulation of crypto assets, emphasizing the need for a coordinated approach. Meanwhile, Ripple, Coinbase, and a16z invested $78 million in a pro-crypto political action committee (PAC) ahead of US elections. Additionally, Ethereum’s co-founder, Vitalik Buterin, unveiled the “game plan” for Ethereum in 2024.

Market Highlights and Predictions

Crucial Week for the Crypto Market

This week holds immense significance for the crypto industry as the eagerly awaited spot Bitcoin ETF faces an 83% chance of approval. BTC’s price volatility remains a focal point, impacting not only its gain but also influencing other major cryptocurrencies like Ethereum, SOL, ARB, and MATIC.

## Potential Impact on Ethereum and Market Dynamics

Ethereum’s Outlook and ETF Approval Implications

With the potential approval of a Bitcoin ETF, a regulatory precedent could emerge for other crypto-based ETFs. The spotlight on ETF issuers intensifies competition, raising Bitcoin’s visibility. For Ethereum, a correlational profile with BTC suggests a potential pump upon approval.

Market Analysis and Price Projections

ETH Price Analysis and Key Support Levels

ETH, currently trading around $2,200, faces a crucial support level formed in early December 2023. A Bitcoin ETF delay or denial could lead to corrections, while approval might pave the way toward $3,000.

In summary, a pivotal week lies ahead. The crypto community is advised to monitor volatility and leverage, ensuring a cautious approach amidst market dynamics. Stay tuned for real-time updates and insights.

 Who is Claire Silver?

 

Unveiling the Artistic Alchemy of Claire Silver

Claire Silver, the innovative digital artist at the intersection of traditional and AI art, embarks on a journey that transcends conventional boundaries. Let’s delve into the essence of Claire Silver’s artistic identity.

*A Blend of Analog and Digital Mastery*

As a millennial, Claire Silver’s childhood oscillated between the analog and the digital, shaping a unique artistic process. From oil and acrylic to digital mediums, she seamlessly integrates classical styles and mythos, creating art that feels simultaneously familiar and surreal.

*Themes of Transcendence and Inquiry*

Silver’s canvas explores profound themes—vulnerability, trauma, disability, social hierarchy, innocence, and divinity—anticipating their role in our transhumanist future. Her art acts as a mirror reflecting the complexities of the human experience in the age of AI.

*The Collaborative Dance with AI*

“I collaborate with AI to produce art that is transcendental,” expresses Silver. In her artistic tango with artificial intelligence, neither the artist nor AI takes precedence. It’s a symbiotic dance, yielding works that echo wordless truths.

The Pinnacle and Pitfall: Claire Silver’s Louvre Controversy

 

The Rollercoaster Ride of Claire Silver: Louvre, Hype, and Backlash

Claire Silver recently found herself on a tumultuous journey, from anticipation of a Louvre exhibit to public scrutiny. Let’s untangle the threads of this narrative.

*The Illusion of Louvre*

Approached by Paris Blockchain Week organizers, Silver believed her art would grace the Louvre’s galleries. A tweet and media coverage ensued, but it unraveled when the Louvre denied any such arrangement.

*Navigating the NFT Ecosystem*

Silver’s journey embodies the uncertainties of the NFT realm. The swift ascent of artists in this space is fueled by unyielding belief, often leading to unforeseen outcomes and occasional deception.

*Silver’s Ecosystem Impact*

In the aftermath, Silver remains a victim of the ecosystem she contributed to. The NFT community’s reliance on fervent belief, a precious resource, exposes artists to a capricious fate, oscillating between unprecedented success and unforeseen setbacks.

Claire Silver: A Maestro in the AI Art Movement

Decoding Claire Silver’s Artistic Brilliance and Global Recognition

Claire Silver’s ascent as a leading figure in the AI art movement is marked by her distinctive style and international acclaim. Let’s explore the facets of her artistic brilliance.

*Unique Artistic Process*

Silver’s art harmonizes the analog and digital, using tools like oil, acrylic, and various digital mediums. Her collaboration with AI, combining traditional and modern techniques, yields timeless yet avant-garde masterpieces.

*International Recognition*

With artwork in the Los Angeles County Museum of Art and auctions at Sotheby’s and Christie’s, Silver’s impact reverberates globally. Features in the New York Times, WIRED, Fortune, and NPR underscore her growing influence.

*Trailblazing NFT Sales*

Silver’s NFTs, including the best-selling “c l a i r e” on SuperRare, exemplify her market prowess. Notable collections like “Genesis” reflect her narrative-rich storytelling within the NFT space.

In Conclusion: Claire Silver’s Artistic Odyssey

 

Claire Silver emerges not only as an artist but as a symbol of the evolving art landscape. Bridging the gap between tradition and innovation, she captivates audiences worldwide. As her journey unfolds, Silver’s impact on the art world remains transcendent, pushing boundaries and questioning the very essence of artistic creation.

What Are Ordinals? A Deep Dive into Bitcoin’s New Frontier

 

Introduction

Bitcoin’s landscape is constantly evolving, and the latest buzz revolves around Ordinal Inscriptions, a novel development that has captivated the Bitcoin community. This article aims to provide a comprehensive understanding of what Ordinals are, their significance, and how they are making waves on Crypto Twitter.

Unveiling Ordinal Inscriptions

Ordinals, akin to NFTs, are digital assets inscribed on satoshis—the smallest unit of Bitcoin. This groundbreaking concept became possible with the introduction of the Taproot upgrade on November 14, 2021, marking a pivotal moment in Bitcoin’s journey.

The Genesis of Ordinals

Bitcoin developers have been on a quest to integrate non-fungible tokens (NFTs) into the blockchain for nearly a decade. From the inception of Counterparty in 2014, creators of the Rare Pepe NFT collection, to the advancements brought by Stacks in 2017, the journey toward Ordinals has been a journey of evolution. The Inscription process involves embedding data into the witness of a Bitcoin transaction, a concept introduced with the SegWit upgrade in 2017.

> “What the team came up with Ordinals is genius,” says Alex Miller, CEO of Hiro, emphasizing its alignment with the core principles of Bitcoin.

Crafting Ordinals: A Step-by-Step Guide

The creation of Ordinals involves a meticulous process. Users start by downloading Bitcoin Core and syncing their node to the blockchain. Subsequently, creating an Ordinals wallet and transferring satoshis to it becomes the next crucial step in this transformative journey.

Evolutionary Milestones: From SegWit to Taproot

The foundation for Ordinals was laid in 2017 with Segregated Witness (SegWit). This upgrade not only addressed bugs in Bitcoin Core but also paved the way for innovations such as Layer 2 payment channels like the Lightning Network. Despite causing a hard fork that resulted in rival blockchains like Bitcoin Cash and Bitcoin SV, SegWit set the stage for future developments.

With the introduction of Taproot, privacy and efficiency took center stage. Taproot leverages Schnorr signatures to enable parties in a transaction to collaborate seamlessly. This upgrade enhances privacy, making it challenging to identify transaction inputs on Bitcoin’s blockchain, while also reducing transaction costs.

> “In order for Bitcoin to be secure, blocks must be full. That is part of the coin security model,” explains Casey Rodarmor, an Ordinals developer.

Dispelling Misconceptions: Addressing Security Concerns

Despite claims of network abuse, developers assert that Ordinals are in harmony with Bitcoin’s security model. Taproot plays a crucial role in ensuring the security of the network, and the complexity of Ordinals is attributed to the intricacies of the Bitcoin blockchain.

In conclusion, Ordinals represent a paradigm shift in how we perceive and utilize Bitcoin. As developers continue to innovate, Ordinals open new frontiers, demonstrating the resilience and adaptability of the world’s leading cryptocurrency. Whether viewed as a groundbreaking evolution or a point of contention, Ordinals have undeniably become a significant chapter in Bitcoin’s ongoing narrative.

Mickey Mouse’s Copyright Journey: A Tale of Expired Legacy

 

The Mouse That Roared in the Public Domain

 

Steamboat Willie’s Surprising NFT Triumph

In a surprising turn of events, the earliest iteration of Mickey Mouse has entered the public domain, creating a seismic shift in the world of nonfungible tokens (NFTs). Disney, known for its fierce protection of iconic characters, lost control of the 1928 version of Mickey Mouse as its copyright expired on January 1.

NFT Frenzy: Steamboat Willie Rules OpenSea

Post-copyright expiration, Steamboat Willie-themed NFT collections dominate OpenSea’s charts. “Steamboat Willie Public Domain 2024” claims the top spot, with around $1.2 million in trading volume, reshaping the landscape of digital collectibles.

Beyond the Charts: Steamboat Willie’s Popularity Soars

Not only on the trending list, but the Steamboat Willie Public Domain 2024 collection also makes waves on OpenSea’s 24-hour top charts. The collection secures the sixth spot, rubbing shoulders with renowned collections like the Bored Ape Yacht Club and Pudgy Penguins.

Mickey’s New Adventures in the Public Domain

From Animation to Horror: Steamboat Willie’s Dark Twist

The expiration of Steamboat Willie’s copyright unleashes a wave of creativity. Dubstep remixes, NFT creations, and even horror films like “Mickey’s Mouse Trap” and horror games like “Infestation 88” emerge, taking Mickey Mouse into uncharted, darker territories.

The Legal Maneuvers: Mickey’s Copyright Saga

Delve into the legal intricacies of Mickey’s copyright journey. Originally set to expire in 1984, Disney’s lobbying efforts extended protection until 2023. Unravel the story of the “Mickey Mouse Protection Act” and its impact on copyright laws.

Global Copyright Chess: Steamboat Willie’s Varied Fate

Explore the global landscape of copyright laws as Steamboat Willie’s fate diverges across jurisdictions. While the US embraces the public domain, some countries will protect the character until 2042. Uncover the complexities of using Steamboat Willie in different regions.

Navigating the Public Domain: What Can You Really Do?

Limitations Amid Freedom: Mickey’s Continued Protection

Despite Steamboat Willie’s entry into the public domain, Mickey Mouse in its modern form remains under copyright. Understand the nuances – from trademark protection to Disney’s vigilant stance – that shape the boundaries of creative freedom with the beloved character.

NFT Renaissance: Mickey’s New Digital Frontier

With Steamboat Willie’s NFT craze, witness the intersection of animation, art, and non-fungibility. Analyze how individual projects leverage the newfound freedom to reinvigorate the iconic character in the digital realm.

In the wake of Mickey Mouse’s historic copyright shift, the world watches as the beloved mouse embarks on new adventures, embracing the freedom and challenges that the public domain brings.

The Lost Robbies: Unveiling the Tale of Digital Art’s Missed Opportunity

 

Unleashing The Lost Robbies at Christies Tech Summit

 

A Cryptoart Odyssey in 2018

In a momentous event at the 2018 Christies Tech Summit, SuperRare, a pioneering name in cryptoart, introduced an avant-garde concept that would shape the future of digital art. Partnering with artist Robbie Barrat, they conceived “AI Generated Nude Portrait #7” as 300 individual frames, each tokenized and tucked into gift bags for the attendees.

The Lost Legacy Unfurls

Despite the groundbreaking nature of the gift, the traditional art world struggled to comprehend the significance of cryptoart in 2018. The attendees, unwittingly, held in their hands fragments of digital gold—The Lost Robbies. Only 12 out of the 300 tokens were ever claimed, leaving 288 tokens lost in the vast digital landscape.

Secondary Market Glimpse

While some recognized the value, others missed the chance. A recent secondary market sale saw one of the remaining tokens, Frame #153, changing hands for 16.5 ETH ($2,172). The Lost Robbies, once overlooked, are now becoming sought-after digital artifacts.

Christie’s Dilemma: Lost Robbies & AI Market Trends

The Christie’s Auction Conundrum

Fast forward to a Christie’s auction in July 2023, where AI-generated art took center stage. Notably, Robbie Barrat’s work, AI Generated Nude Portrait #7 Frame #190, failed to find a buyer, sparking discussions on the trajectory of the AI art market.

Navigating the Digital Art Market

Christie’s, navigating the Web3 space, faced challenges in adapting to the dynamic nature of NFT markets. The absence of buyer premiums, a staple in traditional art auctions, highlighted the evolving strategies needed in the cryptoart landscape.

Lost Robbies Resurface: A Quirky Twist

The lore of The Lost Robbies took an unexpected turn. Initially distributed as redeemable ETH gift cards, only 36 were claimed. As NFTs gained value, holders emerged, turning these cards into valuable NFTs. AI Generated Nude Portrait #7 Frame #190 found its way back into the spotlight, demonstrating the enduring allure of The Lost Robbies.

Robbie Barrat: A Visionary in Cryptoart

From Lost to Found: The Lost Robbies’ Redemption

Robbie Barrat’s journey from the unnoticed creator of The Lost Robbies to a figurehead in the cryptoart world showcases the resilience of artistic vision. His SuperRare profile, now spotlighting a low existing supply of 26 tokens, reflects the impact of The Lost Robbies on his artistic legacy.

The Record-Breaker: AI Generated Nude Portrait #1

Robbie’s groundbreaking work, AI Generated Nude Portrait #1, set a record with a staggering sale of 75 ETH ($13,265). His unique approach to AI art creation positions him as a leading figure in the cryptoart movement.

Conclusion: The Lost Robbies’ Enduring Significance

A Missed Opportunity etched in History

The story of The Lost Robbies, born at the intersection of traditional and digital art, symbolizes a missed opportunity in the annals of art history. As the NFT landscape evolves, these lost fragments continue to resurface, highlighting the profound impact of cryptoart visionaries like Robbie Barrat.

In a world where digital art’s value is questioned, The Lost Robbies stand as a testament to the ever-changing dynamics of the art market and the enduring value embedded in the creations of visionary artists.

Hot News Of The Week

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Azuki Rumored ANIME token, results in floor up 40%

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