Crypto Daily Roundup 15 Dec: Market Takes a Breather After Sprint

CoinGabbar December 15, 2023

Cryptocurrencies that have gained the most in the previous 24 hours

TOP 5 Gainers Coins

Indices	LTP	Change (%)
Bonk	$0.00002891	104%
Helium	$7.51	31.39%
WOO Network	$0.3654	17.71%
Osmosis	$1.23	12.00%
Oasis Network	$0.09483	11.66%

Crypto News Key Highlights:

Solana's Saga phone sales surge over 10x amid a 1,100% spike in Bonk memecoin value, prompting airdrop recipients to seize an $877 opportunity. Co-founder Raj Gokal notes >10x increase in phone sales within 48 hours, while Anatoly Yakavenko contemplates raising Saga's price. Solana Mobile limits future orders to one per household after "millions of dollars worth" in sales within 48 hours. Saga's recent success contrasts with earlier concerns about lackluster performance.
Bitcoin rebounds to $43,000 after the US Fed announces three rate cuts for 2024 post-FOMC meeting. Bitcoin options data reveals 37,000 options set to expire, with a Put Call Ratio of 1.02 indicating a bearish sentiment. The Maxpain point is $42,000, suggesting potential for options expiring worthless. Despite market pullback, Bitcoin remains the focus in the options market. Inflows of $20 billion into Bitcoin and Ethereum occur post-FOMC meeting. The short-term BTC price projection is a fluctuation between $43,500 and $40,000, awaiting a breakout beyond the annual high at $44,800.
As 2024 approaches, Matrixport foresees a bullish outlook for Bitcoin and cryptocurrencies, confident in their rise irrespective of SEC's ETF decision. Matrixport cites potential rate cuts and a proprietary inflation model, predicting a significant rally, highlighting Bitcoin's role as an inflation hedge. The SEC's stance on ETFs is deemed irrelevant amidst optimistic factors.
Speculation arose about OpenAI's potential release of GPT-4.5 after a purported screenshot circulated on social media, describing advanced multi-model capabilities. CEO Sam Altman dismissed it as fake, with Abacus.AI CEO Bindu Reddy also expressing skepticism. Whether OpenAI plans GPT-4.5 or GPT-5 remains unclear, as GPT-4 was released in March 2023.
SEC Chair Gary Gensler hints at a potential shift in the regulator's approach to spot Bitcoin ETFs after a recent Grayscale court decision. With several pending applications, Gensler suggests a "new look" based on court rulings. Analysts anticipate a batch approval in early January for applicants like BlackRock and Fidelity.
Pope Francis issues a 3,412-word letter ahead of World Day of Peace, urging an international treaty to regulate AI and prevent a "technological dictatorship." He acknowledges AI benefits but warns of risks, including unemployment and AI-generated fake news. The Pope joins global voices expressing concerns about AI's impact.
SafeMoon's token (SFM) plunges 31% after the DeFi protocol files for Chapter 7 bankruptcy. The filing follows a recent SEC charge against SafeMoon and its executives for securities law violations. The token rebounds slightly but remains down 98.2% from its peak, with disgruntled former supporters expressing frustration on Reddit.
Venture capital firm Andreessen Horowitz (a16z) plans to influence pro-crypto and AI regulation by financially supporting like-minded politicians. Founder Ben Horowitz emphasizes the importance of backing candidates who support optimistic technology-enabled futures while opposing those who hinder technological progress. a16z has previously invested in various crypto startups.