I’ve been recording a daily 5 minute crypto news update for the last few weeks. Today I asked GPT-4 to rewrite the show notes (which you can see here) into a “simple concise article”. Here’s what it gave me – color me impressed!
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Title: Crypto Daily Update: Onchain Billionaires, Ethereum’s Next Upgrade, Dune Dashboards, Market Structure, and Arthur Hayes
On Tuesday, April 25th, Bitcoin is trading at around $27,300, and Ethereum is at $1,800, both experiencing a 1% drop in the last 24 hours.
Blockworks recently published an article discussing “onchain billionaires” who own identifiable crypto wallets with assets worth more than $1 billion. Among them are Ethereum’s Vitalik Buterin, Ripple’s Jed McCaleb, TRON’s Justin Sun, and the mysterious Bitcoin inventor Satoshi Nakamoto.
Ethereum’s next upgrade, called Cancun-Deneb, was announced by the core developers. The upgrade will consist of two parts: Cancun as the execution layer and Deneb as the consensus layer. The most significant part of the upgrade is EIP 4844, dubbed proto danksharding, which will lower transaction costs for layer 2 solutions like Optimism and Arbitrum.
Dune dashboard data provided by 0xkofi reveals insights into rollup economics. Arbitrum has more than double Optimism’s total transaction fee revenues, with ZKSync coming in third. Arbitrum also posts twice the amount of transaction data and has had nearly seven times more builders deploying smart contracts this month compared to Optimism.
A tweet thread by Zero IKA covers basic market structures, including bullish, bearish, and neutral/ranging. Moving averages can be utilized to understand market shifts, such as 9-day or 200-day moving averages.
Q1 insights from Electric Capital highlight the growth of crypto developers. Notable takeaways include the presence of 7,000 full-time developers, a dip in the number of new developers and repositories, and high growth ecosystems such as Aztec Network, Metamask, and Hyperledger.
GOP Majority Whip Tom Emmer criticizes SEC Chair Gary Gensler in a tweet thread, accusing him of incompetence, abuse of power, and contradictory statements that create chaos in the market.
Ethereum is a unique triple-point asset, combining properties of capital assets, transformable assets, and store-of-value assets. This unprecedented combination creates a new investment and ownership paradigm.
Arthur Hayes shares his latest essay, “Exit Liquidity,” discussing the future of trade, the use of multiple currencies, and potential roles of gold and Bitcoin in the global economy.
(written by GPT-4; art by DALL-E)