Author: Defx Intern

Google has announced a massive $75 billion investment in its capital expenditures, with a significant portion expected to go towards building out its AI infrastructure. As the tech giant doubles down on AI, several crypto projects are poised to capitalize on the growing demand for AI-powered solutions.

While the exact breakdown of Google’s investment remains undisclosed, it’s clear that the company sees immense potential in AI technology. This move is likely to accelerate the development and adoption of AI across various industries, including the crypto space.

Among the projects that could benefit from this trend are MIND of Pepe ($MIND), Phala Network ($PHA), Ai16z ($AI16Z), and Fetch.ai (formerly Artificial Superintelligence Alliance, $FET). These projects are focused on developing autonomous AI agents, decentralized AI marketplaces, and AI-powered venture capital solutions.

As the race to dominate the AI landscape intensifies, these crypto projects could be well-positioned to capture a significant share of the market. However, investors should exercise caution and conduct thorough research before investing in any of these projects, as the crypto market remains highly volatile and speculative.

Google’s massive investment in AI serves as a testament to the technology’s transformative potential. As more resources are poured into AI development, the crypto projects that can effectively harness this technology and deliver practical, market-driven solutions could emerge as the winners in the long run.

Tags: Google AI investment, AI crypto projects, MIND of Pepe, Phala Network, Ai16z, Fetch.ai

Source: https://bitcoinist.com/googles-75b-bet-on-ai-next-big-ai-crypto-coins/

In a bold move, Coinbase executives have sent a letter to federal banking regulators, urging for reforms that would allow banks to offer crypto custody and execution services. This comes amidst a surge in interest for US-based cryptocurrencies like Solana, with the Solaxy presale gaining significant momentum.

The current regulatory landscape has stifled innovation and crypto adoption, with inconsistent guidelines blocking partnerships between crypto providers and traditional banks. However, a regulatory overhaul could bridge this gap and make crypto more accessible to everyday users, potentially boosting liquidity in the market.

President Trump’s pro-crypto stance, alongside key appointments and potential Made-in-USA crypto ETFs, signals a positive shift in the US crypto market. As the second-largest US cryptocurrency by market cap, Solana is well-positioned for growth, with projects like Solaxy aiming to supercharge its ecosystem through a Layer-2 solution.

Solaxy’s off-chain transaction processing could enable high-volume use cases such as DeFi services and Web3 applications, making it a versatile platform bridging Ethereum and Solana. The project’s presale has already seen impressive traction, with a 62% price increase and over $18M in investments.

As regulatory changes loom on the horizon and crypto adoption continues to boom, projects like Solaxy that focus on enhancing US-based blockchains could enjoy significant potential gains. However, investors should always conduct thorough research before investing, as the crypto market remains volatile.

Tags: Coinbase, Crypto Banking, Solana, Solaxy, US Crypto Regulations

Source: https://bitcoinist.com/coinbase-crypto-banking-restrictions-solaxy-presale-hype/

Ether and Bitcoin ETFs have experienced significant inflows on Tuesday, February 4th, as the crypto market regains momentum following a turbulent start to the week. Ether ETFs, in particular, have crossed the $10 billion mark in total net assets after securing $308 million in inflows, marking their fourth consecutive day of gains. Meanwhile, Bitcoin ETFs have also rebounded, attracting $341 million in inflows.

The surge in ETF inflows indicates a growing institutional interest in the crypto market, despite recent volatility. As more investors diversify their portfolios with crypto exposure through ETFs, it could potentially lead to increased stability and liquidity in the market. The milestone achieved by Ether ETFs, surpassing $10 billion in total net assets, further solidifies Ethereum’s position as the second-largest cryptocurrency by market capitalization.

The positive sentiment surrounding Ether and Bitcoin ETFs could also contribute to a bullish outlook for the underlying cryptocurrencies. As institutional capital flows into these investment vehicles, it may drive up demand and prices for both Ether and Bitcoin. However, investors should remain cautious and monitor market developments closely, as the crypto space remains highly speculative and subject to rapid changes.

Tags: Ether ETFs, Bitcoin ETFs, Crypto Market, Institutional Investment, Ethereum

Source: https://news.bitcoin.com/ether-etfs-secure-four-days-of-consecutive-gains-with-inflow-of-308-million-as-bitcoin-etfs-rebound-with-341-million-inflow/

Crypto analyst Dark Defender (@DefendDark) has released an updated technical chart suggesting that XRP could be on track to hit the $8 price level in the coming days. The chart, shared on X (formerly Twitter), showcases an Elliott Wave structure with clearly defined support and resistance levels, and a significant correction currently underway below the $3 zone.

The analyst’s chart indicates that XRP is trading within a descending channel, having previously broken out from it. The Elliott Wave formation denotes five upcoming waves, with Wave (1) peaking near $3.3999 and the following correction, Wave (2), dipping back into the Ichimoku Cloud region. XRP currently hovers around $2.56, with the $3 level acting as a critical breakeven point for resuming bullish momentum.

If XRP manages to break through the top trendline of the descending channel, it could build momentum in Wave (3), potentially reaching the 261.8% Fibonacci extension level at $5.8563. Following a presumed Wave (4) pullback below $4.50, Wave (5) targets $8+ – a zone that Dark Defender believes XRP could reach in the near future.

The ongoing consolidation beneath the $3 threshold, as highlighted by the Ichimoku Cloud, is a key support zone for bullish continuation. A decisive break above $3 would likely confirm the next major wave toward $5.85 (Wave (3)) and, ultimately, the $8+ target (Wave (5)) if the pattern plays out as anticipated.

While the Elliott Wave analysis provides an optimistic outlook for XRP’s price trajectory, it’s essential to approach such predictions with caution. The cryptocurrency market is known for its volatility, and unforeseen events or market-wide shifts could impact the realization of these projections. Nevertheless, if XRP manages to break key resistance levels and maintain its bullish momentum, it could be poised for significant gains in the coming days and weeks.

Tags: XRP price prediction, XRP technical analysis, Elliott Wave theory, Fibonacci levels, crypto market analysis

Source: https://www.newsbtc.com/xrp-news/xrp-8-upcoming-days-predicts-crypto-analyst/

In a recent move, leading cryptocurrency exchange Coinbase has sent a letter to key US financial regulators, urging them to provide clarity on the status of banking services for crypto businesses. The exchange has asked the Office of the Comptroller of the Currency (OCC) to withdraw an interpretive letter that imposes barriers on banks entering the crypto market. Additionally, Coinbase has requested the Federal Reserve and the Federal Deposit Insurance Corp (FDIC) to confirm if state-chartered banks can offer custody and execution services for cryptocurrencies.

This proactive step by Coinbase comes at a crucial time, as the US Congress prepares for a hearing on “Operation Chokepoint 2.0,” which allegedly targets the crypto industry. Coinbase’s Chief Legal Officer, Paul Grewal, will testify alongside other prominent industry leaders, highlighting the need for clear regulations and a comprehensive ecosystem to support the growing crypto economy.

The lack of regulatory clarity has led to a “holding pattern” among US banks regarding crypto services. While financial institutions have participated in Bitcoin ETF markets, they have refrained from allowing retail transactions using crypto assets. The FDIC’s letters to certain banks, asking them to pause crypto-related activities, have further contributed to this uncertainty.

However, with the new crypto-friendly administration in place, there is hope for positive change. Bank of America CEO Brian Moynihan recently stated that the US banking industry will embrace digital asset payments if regulators allow it. The industry’s approach to digital assets could evolve, and major players like Bank of America are ready to enter the sector once regulations are clarified.

Coinbase’s push for regulatory clarity is a significant step towards creating a more conducive environment for crypto businesses and banking institutions. As the leading exchange takes the initiative to engage with regulators, it sets the stage for constructive discussions and potential policy changes that could unlock new opportunities for the crypto economy.

Tags: Coinbase, US regulators, crypto banking, regulatory clarity, Operation Chokepoint 2.0

Source: https://bitcoinist.com/coinbase-urges-us-regulators-to-remove-crypto-banking-barriers-in-new-letter-report/

Bullish Global, a crypto exchange backed by billionaire Peter Thiel, is reportedly weighing an initial public offering (IPO) as early as this year. The company’s decision comes amidst a booming crypto market, with the total market cap surging from $2.2 trillion to $3.15 trillion following Donald Trump’s U.S. election victory in November.

The potential IPO is a significant move for Bullish Global, which had previously planned to go public via a SPAC merger in 2021 but ultimately canceled those plans the following year. The company’s renewed interest in going public reflects the growing optimism in the crypto space, as evidenced by U.S. crypto czar David Sacks’ recent comments about a “golden age for digital assets.”

Bullish Global’s IPO could have substantial implications for the crypto market. As a major player in the industry, with around $10 billion in digital assets and cash, the company’s public listing would likely attract significant investor interest and potentially drive further market growth. Moreover, the IPO could pave the way for other crypto companies to follow suit, leading to increased mainstream adoption and legitimacy for the sector.

From a technical perspective, the crypto market’s recent surge, particularly in the aftermath of the U.S. election, suggests strong bullish sentiment. The rise in the total market cap indicates a growing appetite for digital assets among investors, which could bode well for Bullish Global’s IPO prospects. However, as with any public listing, the company will need to demonstrate strong fundamentals and a clear growth strategy to attract investors and maintain long-term success.

Tags: Bullish Global, IPO, crypto market, Peter Thiel, market cap

Source: https://www.coindesk.com/markets/2025/02/05/bullish-global-weighs-ipo-as-early-as-this-year-amid-crypto-market-optimism-bloomberg

The recent 31% drop in XRP’s price from $2.57 to $1.76 within a span of just three hours on February 3, 2025, has sparked a heated debate among market experts about potential manipulation. While the rapid recovery above $2 shortly after the decline raised eyebrows, some analysts believe that external factors, rather than organic selling pressure, were responsible for the sudden price movement.

Crypto analyst Dom was among the first to spot anomalies in XRP’s price behavior, noting that liquidity seemed to disappear during the last leg of the collapse. He suggests that market players may have purposefully delayed buy-side liquidity, allowing the price to drop before strategically placing purchase orders at lower levels to profit from the rebound.

Interestingly, the drop in XRP was not an isolated incident. Market expert Vincent Van Code observed similar price swings in Bitcoin, HBAR, and several other cryptocurrencies during the same period, raising questions about coordinated market behavior or algorithmic trading.

While panic selling and sudden liquidations may have contributed to the declines, the precise structure and speed of the event make it unlikely that natural market forces were the sole cause. Some speculate that market makers could be manipulating XRP to accumulate it at discounted prices by temporarily removing liquidity to facilitate a price drop.

This incident serves as a reminder of the inherent volatility in cryptocurrency markets and the potential for whales or institutional players to exert their influence during abrupt price fluctuations. XRP investors should exercise caution when navigating unpredictable markets and consider implementing risk management strategies, such as stop-loss orders, to mitigate potential losses.

As XRP has rebounded above $2, the debate continues about whether this was a coordinated move or simply a normal market correction. Regardless, the event highlights the need for increased transparency and regulation in the cryptocurrency space to prevent potential market manipulation and protect investors.

Tags: XRP, market manipulation, cryptocurrency, price volatility, risk management

Source: https://www.newsbtc.com/news/market-expert-claims-xrp-drop-to-1-76-was-manipulated/

In an exciting development for the blockchain and AI communities, Lightchain AI has successfully launched its testnet, marking a significant milestone in the project’s roadmap. The launch comes on the heels of an impressive $15 million in funding secured by the Lightchain AI team, demonstrating strong investor confidence in the platform’s potential.

The combination of blockchain technology and artificial intelligence holds immense promise, and Lightchain AI is poised to be at the forefront of this innovative intersection. By leveraging the decentralized nature of blockchain and the power of AI, Lightchain AI aims to revolutionize various industries and create new opportunities for developers and businesses alike.

The testnet launch allows developers and early adopters to explore and experiment with the Lightchain AI platform, providing valuable feedback and insights to guide further development. As the project progresses and more features are added, Lightchain AI is expected to attract a growing community of developers, entrepreneurs, and enthusiasts eager to harness the potential of this cutting-edge technology.

With the successful testnet launch and substantial funding secured, Lightchain AI is well-positioned to drive innovation and shape the future of decentralized AI applications. As the platform matures and gains traction, it has the potential to disrupt traditional centralized AI models and pave the way for more transparent, secure, and accessible AI solutions.

Tags: Lightchain AI, blockchain, artificial intelligence, testnet launch, funding secured

Source: https://news.bitcoin.com/lightchain-ai-testnet-launches-raising-15m-one-presale-stage-left/

Amidst the recent market turbulence, Bitcoin’s mining hashrate has quietly surged to a new all-time high. On-chain data reveals that the total computing power connected to the Bitcoin network has reached a record 832,600 TH/s, surpassing the previous peak set earlier this year.

This development is particularly noteworthy given the current market conditions. Despite the price volatility and uncertainty, miners are demonstrating their confidence in Bitcoin’s long-term prospects by expanding their operations and investing in new hardware.

The rising hashrate indicates that miners are finding the Bitcoin blockchain an attractive opportunity, even as the cryptocurrency navigates through a choppy market. This growth in mining power not only strengthens the network’s security but also suggests that miners anticipate a bullish future for Bitcoin.

Technical analysis of the hashrate using the Hash Ribbons indicator also paints a positive picture. A brief miner capitulation signal was observed at the beginning of the month, but it was quickly followed by a sharp increase in hashrate, leading to a reverse crossover. Historically, such reversals have served as buying signals for Bitcoin.

While the short-term price action remains uncertain, the expanding hashrate and the resilience of miners in the face of market volatility provide a solid foundation for Bitcoin’s long-term growth. As more computing power is dedicated to securing the network, Bitcoin’s fundamentals continue to strengthen, setting the stage for potential future price appreciation.

Tags: Bitcoin, Hashrate, All-Time High, Mining, Market Volatility

Source: https://bitcoinist.com/bitcoin-hashrate-all-time-high-price-rollercoaster/

According to a recent research report by Wall Street bank Citi, the relationship between stocks and cryptocurrency markets is likely to weaken in the long term as the crypto asset class matures and adoption grows.

While equities have been the most significant macro driver of crypto markets, Citi analysts, led by Alex Saunders, believe that the correlation will fall over time. They cite factors such as the growth of the crypto investor base, advancements in technology, and increased adoption as key drivers for this decoupling.

The speculative nature of cryptocurrency markets may still lead to inflated risk asset correlations, particularly during risk-off events. However, Citi expects that a more transparent regulatory regime in the U.S. will contribute to more idiosyncratic price action in the crypto space.

Furthermore, the bank anticipates that Bitcoin volatility will continue to decrease in the long term as institutional adoption rises. This trend could potentially stabilize the crypto market and reduce its sensitivity to equity market fluctuations.

Citi also noted that crypto was the only asset class that saw its market cap grow as a percentage of U.S. equities last year. This observation highlights the increasing prominence and potential decoupling of cryptocurrencies from traditional financial markets.

The report suggests monitoring Bitcoin’s correlation to gold, as it may serve as an early indicator of its “store of value” use case. As Bitcoin gains more mainstream acceptance and demonstrates its value preservation properties, its relationship with gold could provide insights into its long-term market positioning.

Tags: Citi, equities, crypto correlation, Bitcoin volatility, institutional adoption, store of value

Source: https://www.coindesk.com/markets/2025/02/05/equities-crypto-relationship-is-likely-to-weaken-in-the-long-term-citi-says