Published on mei 19, 2024, 12:43 am
Image source: Fox News
```json { "TLDR": "A trader made a massive $46 million profit by investing $3,000 in PEPE crypto, Ethereum co-founder Vitalik Buterin proposed a new gas model for transactions, Tornado Cash developer faced legal issues, and over 600 firms disclosed $3.5 billion worth of Bitcoin ETF investments. Sam Altman suggests using 'compute' resources as income streams. Top cryptocurrencies like BTC, ETH, and XRP maintained prices, while altcoins like FLOKI and LINK saw gains but ENA, WLD, RNDR experienced declines. The market showed various fluctuations and challenges with diverse outcomes highlighting the need for strategic decisions and informed investments." } ```
A shrewd trader struck gold, raking in an astonishing $46 million profit, representing a staggering 15,718-fold increase on his initial $3,000 investment. This unknown investor made a savvy move by acquiring 4.9 trillion PEPE for $3,000 back on April 15. Fast forward to the present day, and the same PEPE holdings are valued at over $56 million. The trader decided to cash in a portion of his profits by selling 1.41 trillion PEPE for $7.4 million while retaining a substantial 3.5 trillion PEPE stash currently valued at $38.9 million as per a May 15 post from Lookonchain.
The market capitalization of PEPE hit roughly $4.5 billion by May 15, securing its spot as the third-largest memecoin trailing behind Dogecoin (DOGE) and Shiba Inu (SHIB).
On another note in the cryptocurrency realm, Ethereum co-founder Vitalik Buterin has tabled Ethereum Improvement Protocol EIP-7706, suggesting the introduction of a novel gas model targeting transaction call data. The proposal revolves around instituting separate charges for transaction execution and data storage distinct from those related to computational tasks. By streamlining costs for data-intensive yet non-computationally demanding transactions, this initiative aims at setting unique charges specifically for call data irrespective of other expenses involved.
In recent unfortunate news, Alexey Pertsev, the mind behind cryptocurrency mixing protocol Tornado Cash, faced legal repercussions with accusations of money laundering pinned against him which could potentially set serious precedents for open-source code developers moving forward. Despite Tornado Cash operating as a noncustodial crypto mixing protocol where funds passing through it remain unheld or uncontrolled by it, Pertsev found himself sentenced to five years and four months imprisonment for allegedly laundering illicit assets worth a staggering $1.2 billion via the platform.
Transitioning to mainstream investment trends within the cryptocurrency space; over 600 firms disclosed significant investments in spot Bitcoin exchange-traded funds (ETFs) through their recent 13F filings with the United States Securities and Exchange Commission totaling approximately $3.5 billion worth of Bitcoin ETF ownership among professional investment entities such as Morgan Stanley, JPMorgan, Wells Fargo, UBS, BNP Paribas apart from hedge funds including Millennium Management and Schonfeld Strategic Advisors – holding the title as the largest BTC ETF investor with a massive sum of $1.9 billion invested.
Diving into visionary perspectives regarding universal basic income (UBI) presented by Sam Altman – CEO of OpenAI and chair at Tools For Humanity; propose an inventive method leveraging “compute” resources as potential income streams in light of technological advancements particularly AI’s evolution that could reshape socioeconomic landscapes envisioning alternate monetary income avenues accessible to all via computational resources allocation possibly revolutionizing conventional economic paradigms granting individuals options like personal use of allocated compute power provided by advanced AI systems like GPT-7 alongside avenues to sell or donate allocated resources towards noble causes such as cancer research.
Shifting focus to prominent cryptocurrencies’ weekly performance snapshot; Bitcoin (BTC) closing around $66,662 mark whilst Ether (ETH) steadied at approximately $3,081 alongside XRP hovering near $0.52 valuation contributing collectively towards an overall market cap pegged at approximately $2.41 trillion per CoinMarketCap collated data inclusive among top altcoin performers witnessed FLOKI leading gains by 24.25%, followed closely by Pepe rising admirably at 23.,52% paired alongside LINK climbing steadily by 15.,95%.
Conversely, encountering challenges during last week’s trading sessions were altcoins such as ENA witnessing sharp decline tallying -14.,47% loss followed by WLD dipping minimally with -.28% decline trailed further down by RNDR experiencing -9.,40% downturn in performance metrics contrasting overall sentiment marking diverse outcomes amid competitive altcoin markets showcasing spirited fluctuations unfolding throughout various crypto projects bound within dynamic industry landscapes witnessing standout performers amidst multiple underperformers beckoning closer analytical insights towards ongoing price performances complying with coin behaviors amidst vibrant market dynamics gleaning indicative patterns discerned across fluctuating value trajectories hinting prospects and risks intertwined within ever-evolving digital asset ecosystems steering toward diverse outcomes commencing weekly ebbs and flows stimulating thoughtful considerations underpinning varied investment strategies amidst volatile digital currency fluxes oriented surrounding assorted altcoin niches painting nuanced market portraits shaping investors’ outlooks crafting pathways resonating deeper discernment amidst competitive realms accentuating strategic decisions predicated upon well-informed stances grounded on market analytics directing diversified investments fostering prudent allocations navigating altcoin terrains enriched with emerging opportunities heralding insightful observations fostering knowledgeable engagements amplifying broader discourse encircling expanding crypto universes chaperoning stakeholders grasping intricacies enlivening transformative narratives drawing regulatory attention guiding industry’s maturation steering spheres toward resilient frameworks fortifying blossoming digital economies ushering forth renewed understandings mir
Original article posted by Fox News
