Crypto users are excited about the possibility of automating trades with cutting-edge GPT-4 API-based technologies like BabyAGI and AutoGPT. However, due to the volume of data and GPT’s propensity for hallucinations, applications created using the API are only suitable for single-session use. Every time a user queries the system, they start over. Applications like AutoGPT and BabyAGI, created by some astute programmers, take advantage of GPT’s capacity to generate code and connect to external sources. These applications could form the basis of a multi-agent, set-it-and-forget-it AI system that can manage a crypto portfolio from top to bottom with prompts in plain language. Despite the fact that neither application was specifically created with the cryptocurrency market in mind, several efforts have been spotted to adopt one or both for autonomous trading. News Sorce

Following this week’s Shapella upgrade, on-chain analysts expect there to be only a slight sell-off of Ethereum. After the upgrade, according to Glassnode, only a very small portion of the staked Ethereum will be sold, with only 100,000 ETH of the total accumulated rewards being withdrawn and sold. The effect on Ethereum prices will be acceptable, even in the worst case scenario. According to Glassnode, centralised exchanges and liquid staking platforms account for more than two-thirds of all ETH staked. The largest player at the moment is Lido, which has 5.9 million ETH staked and a roughly third-share. The realised price of all deposits is currently $2,136, and approximately half of all Ethereum staked was profitable. Additionally, the upgrade permits both partial and full withdrawals. Early stakers have been accruing rewards for more than two years, so they may be significant. Glassnode forecasted the withdrawal of 45,098 ETH from the Beacon Chain between April 12 and April 14, but the way the process is set up would prevent any significant impact on ETH prices. At the time of writing, ETH was trading for $1,868 after falling by 3% on the day. News Sorce

For the first time since June 2022, Bitcoin broke above the $30,000 mark, marking a historic milestone. Banxa, a fintech company based in Vancouver, has Richard Mico as its U.S. CEO and top legal officer. He relates this increase to projections of a slowdown in economic growth and a resulting relaxing of monetary policy by the Federal Reserve. Samson Mow, a seasoned professional who was once CSO of Blockstream and the Chief Architect of El Salvador’s Volcano Bitcoin Bond, commented on Bitcoin’s resiliency, and Coinbase Co-Founder and CEO Brian Armstrong tweeted that his company has plans to include Bitcoin’s Lightning Network. News Sorce

Since early Tuesday AM Asia, almost $145 million in short positions against bitcoin prices have been closed, with 87% of all futures deals being short bets against a rise in prices. The greatest single liquidation order, a bitcoin/tether exchange worth $11 million, was recorded by Huobi. When an exchange forcibly terminates a trader’s leveraged position as a result of a partial or complete loss of the trader’s initial margin, this is referred to as liquidation. Recent gains in bitcoin can be ascribed to the economy’s deterioration, which may encourage investors to acquire a decentralized asset. According to Alex Adelman, CEO of the bitcoin rewards app Lolli, investors are moving their money into bitcoin in order to increase their wealth. News Sorce

The top 10 non-stablecoin cryptocurrencies, including Ether, rallied on Tuesday morning during trading in Asia, with Bitcoin crossing the US$30,000 threshold and reaching its highest level in about 11 months. U.S. stocks ended the day with a mixed performance as investors wait for a slew of economic reports this week to see which way the Federal Reserve will move interest rates. Following a decline for the majority of last year, the price of bitcoin has risen to its highest level since June 10, 2022, and has increased by 80% so far this year. Last Thursday, the Solana Foundation launched “state compression” to lower the cost of NFTs’ on-chain storage. In the previous day, the market capitalization of all cryptocurrencies increased by 3.40% to US$1.23 trillion, while overall trading volume rose 40.50% to US$41.68 billion. In the 24 hours leading up to 9:00 a.m. in Hong Kong, the Forkast 500 NFT index moved up 0.17% to 3,941.20, but it fell 2.41% for the week. After the long weekend holiday, NFT trade is essentially flat, with more attention being paid to the gains in cryptocurrencies. The range of U.S. interest rates is currently 4.75% to 5%, which is the highest level since June 2006. News Sorce

Economic expert and best-selling author Harry Dent has issued a warning that the biggest crash of our lifetime is likely to occur between now and mid-June. He forecasts that the S&P 500 will decrease by up to 86%, the Nasdaq by up to 92%, and that Bitcoin would decline by 95% to 96% from its November 2021 high. The Nasdaq fell 38% in October of last year, despite his frequent warnings about the greatest disaster. According to Dent, the latest meltdown resulted from central banks making war against recession. The economy still has to get rid of bad loans and dead enterprises notwithstanding enormous money printing. He emphasized that the Federal Reserve will be powerless to halt the third wave because of the enormous debts and overvaluations left over from the biggest financial asset bubble in history, which they have yet to address. Dent suggested that the Federal Reserve has to “tighten strong” because it has overstimulated the economy. He asserted that what initially appears to be a correction will actually be a crash, down 86% on the S&P 500, more akin to 1929 to 1932. He added that timing the market is crucial because the third wave of the third wave is anticipated to arrive between now and mid-June. News Sorce

According to data from Bitriver, Russia has for the first time moved up to second place globally in terms of the total power capacity used to produce digital currency. This is as a result of Kazakhstan’s mining activity being reduced as a result of electrical shortages brought on by China’s crackdown on the sector. The U.S. leads the world in hashrate, but the decline in mining profitability, rising electricity prices, and elimination of tax incentives are slowing the expansion of the American market. With 800,000 ASIC miners and a combined power rating of 2.5 GW, data from the Russian Association of Cryptoeconomics, Artificial Intelligence and Blockchain (Racib) indicates that the energy capacity of Russia’s cryptocurrency mining industry may be considerably greater. According to research released in August, between 2017 and 2022, a five-year period, Russian miners’ electricity use grew 20 times. However, given the absence of restrictions, its future is still uncertain. News Sorce