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Is the AI hype fading? It sure looked that way in crypto yesterday! Apple announced its new "Intelligence" AI suite backed by OpenAI - the type of news that usually sets off rallies in crypto. But major AI crypto projects experienced price dips instead. The crypto markets just...stayed silent and unimpressed. So, let's discuss this event in detail and all other big stories that happened in crypto in the past 24 hours. Here is a quick rundown of the top headlines: TLDR: |
- AI tokens declined despite Apple's AI reveal. Why did the hype fail to translate? 🤔
- Another bull market indicator emerges, but is it too good to be true? 🐂
- 'Crypto will decide the next US President,' claims Mark Cuban. What do the current polls suggest? 🗳️
- ETH ETF facing issues despite the recent approval. What's causing the delay? ⏱️
- Iggy Azalea's MOTHER token gets real-world utility. Which telecom company is going to support the token? 📱
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And with that, let's dive into the details behind each of today's top stories! |
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| | GLOBAL MARKET CAP | | $2.44T | | ▼3.32% (24h) | | | 24H MARKET VOLUME | | $81.72B | | ▲48.42% (24h) | | |
| | BITCOIN'S DOMINANCE | | 54.01% | | ▼0.05% (24h) | | | FEAR & GREED INDEX | | 60 | | Greed | | |
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 | Bitcoin | | | $67,010.42 | | ▼3.38% (24h) | |
|  | Ethereum | | | $3,537.71 | | ▼3.65% (24h) | |
|  | BNB | | | $606.17 | | ▼5.31% (24h) | |
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Data as of: 11 Jun 2024 11:20 UTC |
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AI Tokens Stuck Despite Apple's AI Reveal |
The tech world got excited when Apple announced its new suite of generative AI features powered by OpenAI at the Worldwide Developers Conference. But the crypto markets? A collective shrug for now. Despite Apple announcing "Intelligence" - many of the major AI tokens failed to see any real upside. Render, Fetch.ai, Bittensor, and others instead experienced a decline in prices. It's a somewhat surprising reaction given just how hyped the AI narrative was in 2023 (and in the beginning of 2024). One might expect positive Apple AI news would be a Kodak moment to spark some rally among related crypto projects. But the markets spoke (or didn't speak) for themselves this time around. So why did AI tokens fail to ride the hype? Read the full story! |
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We Have Another Bull Market Indicator! |
The recent price action is looking pretty bullish. Key data shows those who jumped on the BTC train more recently are sitting on some fresh gains. The realized price for Bitcoin's "short-term holders" (STHs) - those who have owned their coins for less than 155 days - has been climbing at a steady pace. We're talking a 1.5% increase over just the past week, according to reports. Now that may not sound like a massive move, but it reinforces the idea that recent market entrants are feeling confident due to BTC's upward trajectory over the last 18 months or so. But how is that possible if Bitcoin is down from its recent all-time high? Read the full story! |
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From Jenner to Azalea: The Rise of Celebrity Memecoins |
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| Today, CoinMarketCap dives into crypto's latest craze - celebrity memecoins. Last week saw the unsurprising return of one of the most nerve-inducing trends... |
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'Crypto Will Decide the Next US President' |
Mark Cuban is sounding the alarm - crypto may be a decisive issue in the upcoming 2024 US presidential race. The billionaire believes that candidates' stances on crypto could be a key differentiator for voters. According to him, the big question is whether President Biden will throw his weight behind the SEC's crypto-skeptic chair Gary Gensler or try to appeal more directly to pro-crypto voters. In Cuban's characteristically blunt assessment, Biden has to essentially "choose between Gensler or crypto voters or it could cost him the White House." According to the current polls, who has a higher chance of winning this election? Read the full story! |
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ETH ETF Is Still Facing Issues |
The excitement around U.S. ETH ETF approvals is losing some steam for now. Ethereum's price has dipped amid regulatory uncertainties and broader market jitters. Some major spot ETF filings from the likes of BlackRock and Fidelity are facing delays. The world's second-largest crypto has seen its price dip around 3.4% over the past 24 hours to the $3,560 range. So what's causing the delay if ETH ETFs have already received the approval? Read the full story! |
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| What Is Aperture Finance?
AI Powered Intents for DeFi |
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Iggy's MOTHER Token Has a Real-World Utility |
Yesterday, Iggy Azalea's MOTHER token saw a sharp increase in price with a utility announcement from the rapper herself. Iggy revealed that holders of her recently launched MOTHER token will soon be able to use it for real-world purchases like mobile phones and monthly cellular plans. The token is set to bridge the oft-mocked gap between memecoins and actual consumer services. Unsurprisingly, the announcement immediately pushed MOTHER up by over 30% in a matter of hours as buying pressure poured in. But what mobile phones can users purchase with these tokens? And which telecommunications service provider will accept these tokens? Read the full story! |
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| And that's a wrap. We will be back with more updates tomorrow! |
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