We bring you the latest in the Web3 and AI industry, structured in bite-sized news that you can read in a minute!
Here’s what’s happening in Web3 and AI in 1 minute.
Web3
Bitcoin Exchange Inflows and Outflows Decline
1️⃣ Bitcoin exchange inflows and miner outflows have dropped significantly since November 2024, indicating reduced selling pressure in the market. Bitfinex expects Bitcoin to trade between $95,000 and $110,000 in January.
Coinbase Expands Derivatives in Europe
2️⃣ Coinbase has obtained a licence enabling it to offer derivatives products across Europe. This was achieved through the acquisition of the Cyprus unit of European brokerage Bux. With this licence, Coinbase can offer its services to other EU countries.
Phantom Denies Token Airdrop Rumours
3️⃣ Crypto wallet Phantom has denied speculation that it will launch a token airdrop alongside its new social discovery feature. Some in the crypto community believed users would earn tokens, but Phantom confirmed it has no plans to do so.
Dogecoin Rises 21% Amid Whale Accumulation
4️⃣ Dogecoin has surged 21% over the past week, outperforming other memecoins such as Shiba Inu, Pepe, and Bonk. This rally comes as whales have acquired over 1 billion DOGE, and the head of research at Galaxy Digital predicts DOGE could reach $1 in 2025.
Elon Musk Faces Backlash Over Algorithm Change
5️⃣ Elon Musk has come under criticism after announcing plans to adjust the algorithm of X to prioritise content that is educational and informative over other types of posts. Musk stated that the changes aim to address too much negativity on the platform.
Decentralised Futures Exchanges See Growth
6️⃣ Decentralised exchanges are steadily gaining market share from centralised crypto exchanges, with the total trading volume on decentralised futures exchanges growing by an average of 26.5% monthly in 2024.
Pudgy Penguins’ PENGU Token Jumps 13%
7️⃣ The PENGU token rose by 13% on 5 January, making it one of the top performers in the crypto market. Since its launch on 17 December, the token has surged 250%. However, sales of Pudgy Penguins NFTs have dropped by 52% over the past week.
Trump Calls for Bitcoin Mining to Stay in the US
8️⃣ President-elect Trump has expressed a desire for all future Bitcoin mining to occur within the United States. Experts, however, have told Decrypt that such a goal would be extremely challenging, if not impossible, to achieve.
Artificial Intelligence (AI)
AI Agents and Corporations Compared
1️⃣ Bitwise CEO Hunter Horsley has likened the rise of AI agents to the emergence of corporations in the 19th century. He pointed out that both entities can enter contracts, employ workers, own property, and exist beyond human lifespans.
Blockchain’s Potential to Enhance AI in 2025
2️⃣ The CEO of ChainOpera argues that blockchain technology could resolve issues surrounding data privacy and empower developers and users in the AI industry. He advocates for a decentralised approach where users are rewarded for contributing data.
AI Makes Major Advances in 2024, AGI on the Horizon
3️⃣ AI made significant strides in 2024, inching closer to artificial general intelligence (AGI). Generative AI tools such as ChatGPT gained widespread recognition, and AI researchers were awarded the Nobel Prize in Physics for their work on neural networks.
Cryptocurrency Whale Profits $11.5M from AI Token
4️⃣ A crypto whale earned over $11.5 million in profit within 19 days by investing in VIRTUAL, an AI agent launch platform. The investor purchased 4.25 million tokens for $10 million, and the value of their holdings has since risen to $21.5 million.
Dragonfly Partner Predicts Fading AI Agent Hype
5️⃣ The managing partner at Dragonfly foresees the AI agent craze continuing into 2025 but eventually losing steam. He believes the current hype surrounding these chatbots, often linked to memecoins, will wane as they become more commonplace.
Grayscale Highlights AI and Solana Opportunities
6️⃣ Grayscale Investments has identified AI platforms and Solana-based DeFi applications as key areas to watch in Q1 2025. The asset manager credits a favourable regulatory climate in the U.S., advances in decentralised AI, and the growth of the Solana ecosystem for driving these trends.
