AI
Arbitrum One as the first layer-2 to reached $20 bilion in TVL
Published
1 month agoon
By
adminArbitrum, a cryptocurrency network, has announced on its official account that its layer-2 platform has reached $20 billion in total value locked (TVL).
Arbitrum on X’s post on Dec. 03 claimed that the first layer-2 platform could reach $20 billion in total value locked (TVL) or increase up to double-digit, which specifically rises 14.2%.
“Arbitrum One has just become the first L2 to hit $20 billion in TVL. We did this by inovating together, with the stage 2 horizon and ecosystem growth happening in all verticals, the sky’s the limit for how far we can scale. Accelerate,”
Arbitrum mentioned on the post.
According to L2Beat data, Arbitrum One achieved $20 billion in TVL with $6.64 in canonical, $5.32 billion in external, and $8.12 billion in native. This milestone also leaves the competitors behind, including Base with $12.4 billion, OP Mainnet with $8.56 billion, and Blast with $1.55 billion.
Arbitrum (ARB) is the highest native minted value on this platform, with around $4.3 billion, followed by USD Coin (USDC), with a value of $2.2 billion.
Stage 2 of Arbitrum One is still ongoing, and some issues need to be fixed: fraud-proof submission, upgrade unrelated to on-chain, and the security council’s action, which is not confined to on-chain.
Arbitrum boosting AI growth
Arbitrum Foundation also actively promotes the artificial intelligence (AI) industry; one of the support initiatives is a $1 million grant to Arbitrum Network. The Trailblazer AI Grant is an initiative for developers and creators who are dedicated to building AI agents on Ethereum layer-2.
This artificial intelligence also helps bring thousands of applications to Arbitrum and gives the opportunity to explore projects ranging from non-fungible tokens (NFT) to ERC20 tokens. Projects that are eligible in the process will receive $10,000 as a reward.
Besides that, this initiative to bring artificial intelligence to the Arbitrum would unlock the potential of layer 2.
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AI
‘Hype Cycle’ To Last Another Four Months for This Altcoin Sector, According to Real Vision Analyst Jamie Coutts
Published
8 hours agoon
January 7, 2025By
adminReal Vision’s chief digital assets analyst Jamie Coutts says that a nascent but soaring crypto sector could continue its upward trend for a few more months.
Coutts tells his 32,100 followers on the social media platform X that he thinks crypto artificial intelligence (AI) agents will continue to perform well in the coming months.
Crypto AI agents are protocols built to autonomously perform tasks on behalf of users such as interacting with blockchains and decentralized finance (DeFi) platforms, trading and managing portfolios.
Says Coutts,
“The last big crypto hype cycle was from November 2020 to May 2021, around six months. Subsectors like DeFi, NFTs (non-fungible tokens) around six-12 months.
Interest in AI agents in crypto took off in November 2024. Based on history, this trend is expected to last at least another four months, but probably longer.
AI agents are not like the others – they unlock potential for every established and new use case.”
The Real Vision analyst, however, says that crypto AI agents could face a severe correction after reaching the cycle top.
“There will be many scams (tread carefully/position size), and as with every hype cycle, the dump will be massive, but I suspect this move still has a way to go.”
According to the cryptocurrency data aggregator CoinGecko, some of the AI-focused crypto projects that rank among the top 100 digital assets by market cap include Artificial Superintelligence Alliance (FET), Virtuals Protocol (VIRTUAL) and ai16z (AI16Z).
Artificial Superintelligence Alliance is a me ging of various decentralized AI platforms whose goal is to speed up the advancement of decentralized Artificial General Intelligence (AGI) and Artificial Superintelligence (ASI).
Virtuals Protocol is a platform that aims to enable the co-ownership of AI agents.
Meanwhile, the ai16z crypto project is designed to leverage AI-driven insights to direct investments in blockchain projects.
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AI
ReadyGamer announced as Virtual Protocol rides wave of investor confidence
Published
18 hours agoon
January 7, 2025By
adminVirtual Protocol’s price surge highlights growing interest in decentralized gaming, as ReadyGamer promises to merge AI, blockchain, and autonomous worlds into the gaming landscape.
Having experienced a major pump in the last few days, Virtual Protocol (VIRTUAL) continues to garner attention, reflecting increased investor confidence in the token and its ecosystem. The introduction of ReadyGamer, a joint venture with Sovrun that intends to incorporate AI, blockchain, and autonomous worlds into Web3 gaming, further underscores the growing market interest in VIRTUAL.
VIRTUAL has increased by 5.55% over the last day, and it is now trading at $3.88. Its 24-hour trading volume has reached $408.28 million, and its market capitalization has increased to almost $3.88 billion. This upward trend predates the ReadyGamer announcement, driven by rising expectations of Virtual Protocol’s ability to transform digital interactions and gaming ecosystems.
The ReadyGamer project seeks to provide a cutting-edge gaming platform by leveraging Virtual Protocol’s GAME architecture. The initiative combines dynamic AI systems, blockchain-secured transactions, and autonomous virtual environments to empower gamers with greater control and participation. Sovrun, with its expertise in decentralized systems, complements Virtual Protocol’s technology, positioning the two companies to tap into the growing demand for player-driven and immersive ecosystems.
Sovrun, formerly BreederDAO, brings deep expertise in blockchain gaming and on-chain ecosystems. The company specializes in fostering virtual economies and enabling players and creators to build autonomous worlds. Its collaboration with Virtual Protocol strengthens the foundation for innovation in decentralized gaming.
While VIRTUAL‘s price spike has captured attention, industry experts suggest ReadyGamer’s long-term potential could overshadow the current market momentum which is yet to be seen.
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AI
Northern Data (NB2) Is Well Positioned to Take Advantage of the AI Boom: Canaccord
Published
5 days agoon
January 2, 2025By
adminInfrastructure providers, such as Northern Data (NB2), are well positioned to benefit from the growing demand from artificial intelligence (AI) and high-performance computing (HPC) firms, broker Canaccord Genuity said in a report Thursday initiating coverage of the stock.
Canaccord assumed coverage of the shares with a buy rating and a 60 euro ($62) price target. The stock was trading 2.4% higher at 45.65 euros at publication time.
Companies like Northern Data are “building the railroad for the AI gold rush,” analysts led by Kingsley Crane said. The company’s Taiga Cloud business has come online at the “forefront of what is shaping up to be a generational opportunity.”
The broker noted that Northern Data, which is 52% owned by stablecoin issuer Tether, has already announced it was exploring options to sell its Peak Mining business.
A potential divestiture would give Northern Data cash to invest in GPUs and data-center facilities, and would “meaningfully improve the company’s growth runway beyond FY25,” the report said.
The shares still offer potential upside despite the 74% rally in the last three months, Canaccord said, adding that “investor appetite is evident.”
Read more: Bitcoin Miner Northern Data Moves to Dismiss Ex-Employees’ Whistleblower Suit
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