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The Crypto Minute
Your Weekly Guide to Surviving the Crypto Rollercoaster.
CoinBrain
December 30, 2024 • Reading Time: 9 minutes
Welcome to a new issue of Crypto Minute by CoinBrain! On the verge of 2024/25 there is a A LOT happening in crypto so get yourself a hot beverage and buckle up for our weekly flythrough!
Btw this is our 10th issue milestone 🥳 and we want to thank you all frens for sticking around!
⤵️ Today’s Agenda:
We got a fully AI-agent-managed “VC Fund“ ai16z grabbing the attention of whales 🐳
AI agents are also reproducing on their own on an experimental platform spore.fun 🧬 (AGI close?)
US IRS is finalizing a new rule for DeFi brokers requiring them to collect data 🤐 from front-end services
And more…
📊 Market Snapshot
| $93,600BTC-1.8% | $3,400ETH+3.50% | $3.29TCrypto Market Cap-0.3% | 50 (Neutral)Fear & Greed Index-4 from last week |
📅 Crypto Events You don’t want to Miss
Monday, Dec 30: US Pending Home Sales - This metric measures the number of homes under contract to be sold.
A strong housing market often signals economic health 📈—but could it also hint at less risk-taking in crypto?
Tuesday, Dec 31: CH Manufacturing PMI - China’s Purchasing Managers Index (PMI) is a key indicator of global manufacturing strength.
With the crypto markets sensitive to macroeconomic trends, a strong PMI could influence risk appetite 🌏.
Late-night traders, this one’s for you! 🕒
Thursday, Jan 2: US Unemployment Claims - The job market’s weekly report card is out!
A surprise in unemployment claims could jolt markets, impacting both traditional and crypto assets alike 🚀📉
Friday, Jan 3: US ISM Manufacturing PMI & Prices - The PMI and price data reflect manufacturing activity and inflationary pressures in the US.
For crypto traders, stronger-than-expected numbers ⬆️ could bolster the USD 💵 and challenge crypto prices.
🐋Smart Money Tracker
Tuesday, Dec 24th: This whale received an airdrop of 116.7M $PENGU and on this day bought an additional $1M worth of $PENGU.
So far, the whale has not sold any $PENGU and holds a total of 151.12M $PENGU ($5.08M).
Wednesday, Dec 25th: Suspicious $LINK accumulation taking place! 🤔
Over the past 5 days, 30 newly created wallets have withdrawn 1.37M $LINK($34.1M) from Binance.
Remember that World Liberty Financial has also shown massive interest in ChainLink over the past few weeks 🕵️
Thursday, Dec 26th: Crazy memecoin snipes 🎯
This whale made $1.1M in just 11 days by sniping memecoins. They succeeded on:
$MIRA: $357.3K profit (+3,600%)
$UFD: $341.5K profit (+774.2%)
$YNE: $335.7K profit (+1,700%)
Friday, Dec 27th: Whales are buying into $ai16z 📊
A whale which bought 19.83M $ai16z ($17.82M) in the past month is now buying 1.13M $ai16z again.
Saturday, Dec 28th: More $ai16z buying! 💰️
A whale spent 10M $USDC to buy 13.16M $ai16z 2 weeks ago, which is now worth $15.66M, with an unrealized profit of $5.66M!
Monday, Dec 30th: Smart money continues to accumulate $ai16z
A trader who made 6,289 $SOL($1.16M) on $ai16z spent 6,293 $SOL($1.16M) to buy 1M $ai16z again 4 hours ago.
B6FsUN...XzDV bought 869K $ai16z($1.09M) again 1 hour ago and currently holds 4.38M $ai16z($5.43M).
AVLKwK...x1Mv bought 998K $ai16z($1.22M) again in the past 6 hours.
Source: Lookonchain
📰 News Recap (Dec 24 to 30)
🧬 Shaw, the creator behind the Eliza framework and ai16z has spun up a new AI experiment. Spore.fun is a platform where AI agents can reproduce autonomously and transfer traits among generations.
Shaw’s on a mission to speed up our quest for AGI and show that true AGI isn’t just something humans can whip up. Every AI agent is a unique token, and their ultimate aim? To rack up some serious capitalization!
❤️ $MIRA - A memecoin created to support research on rare childhood brain tumors soared to an $80 million market cap after Runway CEO Siqi Chen shared his daughter Mira's medical journey.
Thanks to a systematic liquidation plan, the initiative will secure at least $1 million for the Hankinson Lab at the University of Colorado, transforming a social media plea into a powerful force for rare disease research.
⚖️ The U.S. Treasury has finalized rules requiring DeFi brokers to collect data. Starting January 1, 2027, entities that serve as "front-end service providers" in decentralized finance will need to report user trading information and provide Form 1099s to their customers.
Treasury/IRS has finalized their DeFi broker tax reporting rule. Trading front ends would have to track and report on user activity - both US persons and non-US persons- starting in 2027. And it applies to the sale of every single digital asset - including NFTs and even… x.com/i/web/status/1…
— Bill Hughes : wchughes.eth 🦊 (@BillHughesDC)
2:56 PM • Dec 27, 2024
While the Treasury frames this as a step toward tax equity, the crypto industry has pushed back strongly, arguing that DeFi's unique decentralized nature makes traditional reporting requirements impractical.
🌍️ Story of the Week
🤖 Ai16z, the new star of AI-meets-crypto frenzy. Over the weekend this Solana-based, AI-powered “VC-fund“ hit a market cap of $1.5 billion before cooling slightly to $1.3 billion on Sunday.
So, what’s driving this rocket ride? For starters, ai16z skyrocketed more than tenfold in the last two months, fueled by its AI-agent-focused mission and a shoutout from none other than Marc Andreessen (yes, the real one).
Ai16z is built on Eliza, a framework enabling developers to launch their own blockchain-based AI agents. Combine that with institutional interest and retail FOMO, and you’ve got a recipe for exponential growth.
The also project announced a partnership with Stanford University to explore how autonomous blockchain-based AI agents could reshape the digital economy.
Oh, and did we mention the whales? Blockchain data shows they’ve been grabbing up ai16z like it’s the last day on earth 🐋💸
🔒 Major Token Unlocks of the Week
$SNFTS - 1.30% of the total supply will enter circulation on Dec 31, 2024.
$BMEX - 8.68% of the total supply will enter circulation on Jan 01, 2025.
$INSR - 2.08% of the total supply will enter circulation on Jan 05, 2025.
$NEXT - 19.66% of the total supply will enter circulation on Jan 05, 2025.
$GAL - 1.25% of the total supply will enter circulation on Jan 05, 2025.
Everclear (Connect) $NEXT is unlocking a massive chunk - almost 20% of their entire supply! What do you think will happen with $NEXT price once this unlock is over? I will give you a hint: 📉 💥
All details here.
🗞️ From our Blog
💡 1 Minute Learning: The Greater Fool Theory
Ever wondered why someone would spend $100,000 on a cartoon ape NFT? 🐵 Enter the Greater Fool Theory – the investing world's version of hot potato.
The idea is simple: it doesn't matter if you're paying too much for something, as long as you can find someone else (the "greater fool") willing to pay even more.
Just like buying Dogecoin at 50 cents 🐕, not because you think it's worth that much, but because you're betting someone will buy it from you at 75 cents. 📈 Just remember – if you can't spot the greater fool in the market, you might be it 🎪
And that’s a wrap! 🎉 Enjoyed this newsletter? Forward it to a friend, and let them know they can subscribe here.
Happy new year and see you in 2025! 🎆
Got any ideas or feedback? We’d love to hear from you! Drop us an email at [email protected].
DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and not investment advice or a solicitation to buy or sell any assets or make financial decisions. Always do your own research and stay safe out there.