BTC price is hovering above $24.1K after the mixed FOMC meeting minutes

Bitcoin plunges more than its rally above $24.1 thousand after the minutes of the FOMC meeting

Cryptocurrency markets moved but weren’t shaken, falling slightly on Thursday, and some rose but remained in the red after the US Central Bank’s Federal Open Market Committee (FOMC) released minutes that weren’t encouraging.

Bitcoin recently traded at $24,164, down 1% over the past 24 hours. The largest cryptocurrency by market cap fell near $23,600 in the immediate aftermath of the Federal Open Market Committee’s report, which pointed to slowing growth — a boon for investors hoping for more dovish monetary policy from the Federal Reserve — but also data that indicated inflation and recession prospects. Hairpin remains. Real, please cash hawk.

“Everyone is wary of what is going to happen during this year,” Jake Boyle, CTO of crypto brokerage Caleb and Brown, said on CoinDesk TV. “At this point, the position seems to be becoming more conservative on the grounds that 25 basis points is less impactful than 50, but it’s crucial to all remember that it’s still going up, which means there’s clearly no solution.”

Boyle added, “Combined with the regulatory uncertainty that the cryptocurrency space seems to have these days, it would be fair for us to assume that there will be more volatility and unexpected announcements over the course of this year.”

Ether was last trading at $1,641, down 1.1% from Tuesday, at the same time. However, CoinDesk analyst Glenn Williams noted that BTC and ETH have been diverging on a different front, with investors sending bitcoin to exchanges and removing ether from them. The moves indicated a bearish trend for bitcoin and an upward trend for ether, a departure from the usual correlation. Separately, on Tuesday, Layer 2 scaling system Arbitrum overtook Ethereum in daily transactions, adding to Arbitrum’s dominance as the leading Layer 2 pool.

Other major cryptocurrencies were mixed with some slightly higher but others in the green, although APT, the token of the tier one Aptos platform, recently rose more than 6%.

Stocks fell amid the same fears of inflation and recession that have blighted markets over the past few days with the S&P 500, which has a heavy technical component, dropping 0.2%, a fourth consecutive daily decline, and the tech-focused Nasdaq and Dow Jones. The industry average (DJIA) also fell slightly.

Crypto news has ranged from optimistic to reminiscent of nearly 15 months of blandness and monotony. Investment banking giant JPMorgan said in a research report that cryptocurrency exchange Coinbase is well positioned to deliver a significant year-over-year improvement in EBITDA. But a legal filing by the US Federal Trade Commissions said the agency has launched an investigation into bankrupt cryptocurrency lender Voyager Digital and its executives for deceptive marketing of cryptocurrency.

In an email to CoinDesk, Anthony Georgiadisone of the founders Pastel Networka decentralized blockchain for non-fungible tokens, cryptocurrencies, and Web3 technology, optimistically wrote that “the slightly better-than-expected earnings reported by Coinbase may indicate that we have moved into the final innings of the crypto winter.”

“There has clearly been more interest in the digital asset market in recent months, as evidenced by a rally that surprised a lot of observers. Part of this has to do with market psychology — everyone was incredibly pessimistic the trade was supposed to be bullish. Coinbase also managed of increasing its overall market share on the back of the fallout from large crypto markets like FTX.”

Georgiadis was particularly bullish on the prospects for cryptocurrencies in Asia: “There is a lot of speculation that buyers in Asia are starting to downsize cryptocurrency by increasing amounts. As a result, the strength in the digital asset market may very well continue for the foreseeable future. Even if The Fed remains hawkish for months to come, what is happening in other parts of the world on monetary easing may be enough to offset what is happening in the US.

But he added cautiously that “there could be a significant pullback in bitcoin and cryptocurrencies,” even if “there appears to be fodder for a sustained rally.”

Hundreds of Fake ChatGPT Tokens Attracting Crypto Investors; The majority is issued on the BNB chain

This story first appeared on CoinDesk Feb 21.

Nefarious market participants are attempting to cash in on the ongoing ChatGPT craze in tech circles by issuing fake tokens branded after an AI chatbot despite having no official affiliation with the tool.

Hundreds of these tokens have been issued in the past few weeks. Of this, 132 different tokens were issued on BNB Chain, 25 tokens on Ethereum, and 10 separate tokens on other blockchains such as Solana, Arbitrum, OKChain, and Cronos.

These fake versions come on the heels of software giant Microsoft’s move to integrate OpenAI’s chatbots for search services into Microsoft’s web browsers.

While OpenAI is the creator of ChatGPT, Microsoft’s chatbot is a custom tool and It is said to be an improvement via publicly available ChatGPT.

However, scammers do not miss the opportunity to monetize the hype. Several “BingChatGPT”s have been released, which are full of liquidity and are seeing thousands of dollars in trading volumes – despite the red flags.

“PeckShield detected dozens of newly generated #BingChatGPT tokens, of which 3 appear to be #honeypots & 2 have high selling tax,” security firm PeckShield said in a tweet on Monday.

“2 of them have already dropped more than -99%. Deployer 0xb583 has already created dozens of tokens using a pump and dump scheme,” PeckShield added, pointing to the wallet address of the nefarious issuer of these tokens.

In cryptocurrencies, a hot spot is a smart contract that pretends to leak its funds to an arbitrary user, on the condition that the user sends additional funds to it.

On the other hand, sales tax refers to the intentional amount obtained through an illegal smart contract when selling an associated token – it is usually above 50%, which means that a user who sells a $100 token receives only $50, with the amount The remaining “taxable” goes to the developer of this smart contact.

At the time of this writing on Tuesday, there are more than 170 ChatGPT-branded tokens issued on decentralized exchanges such as Uniswap and PancakeSwap, Data from DEXTools offers.

the The most popular It has a market capitalization of over $250 million, with over 300 unique owners and $600,000 in liquidity and is issued on Ethereum. a Separate BNB chain issuance It has $246,000 in liquidity and a market value of $24 million.

The trading volumes on these fake – and in some cases fraud – tokens are a glimpse into the cryptocurrency dream that is alive and well.

Coinbase reported fourth-quarter earnings after Tuesday, beating expectations, but usage continues to decline. Pastel founder Anthony Georgiadis shared an analysis of the cryptocurrency markets. Additionally, ConsenSys Director of Global Regulatory Affairs Bill Hughes shared his views on the future of cryptocurrency regulation in the United States. And Marcelo Mari, CEO of SingularityDAO, investigates the far reaches as Web3 and AI collide in CoinDesk’s “BUIDL WEEK.”