Bitcoin Price Holds Steady Amid a Probable US Selloff
BTC/USD has been trading steadily above $90,000 for two weeks now; missing the all-important mark of $100,000 by less than 5 dollars on 22nd November. Even with the range-bound trading, the bullish trend persists. In fact, according to CoinMarketCap, greed continues to define the crypto market space. This week, the index is at an extreme greed level of 80 compared to last month’s neutral of 55.
Even with the bullish trend, investors appear to be somewhat cautious. Bitcoin price has dropped by over 2% since the start of the weekend.
As highlighted on sosovalue, BTC ETFs had daily net inflows of $353 million as of 2nd December. Of this number, BlackRock contributed $338 million with Grayscale and VanEck recording outflows of $28 million and $10 million respectively.
The caution has further been heightened by the US government’s move to transfer Bitcoin worth $1.92 billion to a new address. While the intention is unclear, there are speculations over a possible selloff. In the recent past, countries like Bhutan and Germany have made huge selloffs of their BTC holdings.
iDEGEN: The Viral AI Experiment Garners Over 100,000% in Gains Ahead of its Launch
In recent years, cat and dog-themed meme coins have redefined the crypto space. While they are still a crucial part of the market, there is a new widely-hyped entrant; AI meme coins.
At the center of this buzz is iDEGEN, an advanced AI agent born on X and shaped by the cryptocurrency community. So intense is its hype that its auction has already raised over $1 million and yielded gains of over 100800% to the early adopters. Interestingly, it is still at the experiment stage.
As opposed to the usual presale, iDEGEN has chosen a different path; a dynamic auction. To start with, the total IDGN tokens are 11,111,111,111 with the auction being divided into 5-minute intervals.This means that every time there are consecutive buys within a span of 5 minutes, its price rises by 5%. If no bid is placed within two 5-minute periods, the price drops by 5%.
At the end of the auction, IDGN launching price will be 10% higher than the final price at the auction. At that point, all unsold tokens will be destroyed.
In addition to this pricing-based excitement, its freeness has further contributed to iDEGEN going viral. Unlike centralized companies like OpenAI, iDEGEN has no guard rails. In fact, the only applicable rule for this AI agent is that it has to post on Crypto Twitter(CT) after every 60 minutes. Between one post and the next, it internalizes the information availed to it by the crypto degens.
This is exactly what the savvy investors are banking on; securing some IDGN tokens before its value skyrockets. Different groups within the CT space will strive to control this AI agent. This push and pull is bound to intestify its virality with the investors being the ultimate beneficiaries.
Besides, the program’s unconstrained nature means that it can evolve in different ways. This includes trading the existing assets or even creating its own. With this infinite potential, the market’s focus is set to remain on iDEGEN for a long time. You can buy the iDEGEN token here.
HBAR’s Surges to a 35-Month High Amid Heightened FOMO
Hedera Hashgraph (HBAR) has been trading in the green for five consecutive weeks, hitting a level last recorded in January 2022 on 3rd December. Over the span of those five weeks, the crypto has been up by more than 700%.
As at the time of writing, its market cap stood at $12.49 billion, up by 17%. Besides, its trading volumes were up by 61% over the past 24 hours at $7.55 billion.
The hype around this token has more traders fearing to miss out on a profitable opportunity. As a result, an increasing number of investors are accumulating the HBAR tokens.
