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Happy Tuesday, Zingernation! Bitcoin ETFs just keep on buying (over $500 million yesterday) but price is still stuck below $67K - Why?

Today, we look at key factors to watch for the Ethereum ETF trading launch, how AI can help unlock the potential of web3 and more.

Plus, our partner helps you find local solutions for staffing needs.

MARKET SNAPSHOT

TOP STORY

Top Trader Flags Key Factors To Watch For The Ethereum ETF Trading Launch

Briefly: Trader Evanss6 pointed out two key differences between the launch of Ethereum ETFs and Bitcoin ETFs—seasonality and Grayscale’s Ethereum Trust ETHE.

So Basically: ETHE represents a lower percentage of the ETH in circulation than the Grayscale Bitcoin Trust ETF GBTC did for BTC.

So Then: That means outflow could be more muted and coupled with low trading volumes on Coinbase, could mean Ethereum ETFs have a good start.

So What: Some expect as low as 0-7% compared to Bitcoin ETFs, and others predict substantial new inflows and reallocation flows from Bitcoin ETF buyers.

Read the entire scoop here.

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FIVE ZINGERS

Slurping: Bitcoin ETFs keep hammering the buy button and took in another $526 million in net inflows, but price remains stuck below $67,000.

Portfolio: A top trader revealed his meme coin portfolio after many requests and shared his five picks that contain the “Dogecoin of this cycle.”

Key Levels: Bitcoin will hit $100,000 eventually but not before some more consolidation, a trader said and shared his key levels on the way to $100K.

Moving: A Mt. Gox wallet moved some funds again and markets got a bit spooked, despite rumors that Bitcoin may become a strategic reserve asset.

Dark Elon: Elon Musk changed his profile picture to a ‘Dark MAGA’ avatar and sent an eponymous memecoin flying, creating six-figure gains in the process.

FINTECH FOCUS

EXCLUSIVE: How AI Can Unlock The True Potential Of Web3

Briefly: The integration of AI within the Web3 ecosystem is taking a significant leap forward, according to Nick Havryliak, CEO and co-founder of data provenance protocol Assisterr.

What Happened: Havryliak told Benzinga in an exclusive interview on Tuesday about the importance of creating a decentralized AI infrastructure to democratize the benefits of AI advancements.

What Else: “Introducing AI assistants capable of deploying dApps on users’ behalf will democratize access to the Web3 space, fostering diverse and creative use-cases,” Havryliak said.

Why It Matters: Cryptocurrency plays a crucial role in the AI ecosystem, serving as an ideal payment rail for AI.

Read the full scoop here.

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