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Crypto Alpha, 4 June 2024

Crypto Alpha, 4 June 2024

Daily Alpha on All Things Crypto, Web3 and Blockchain

June 04, 2024

TL;DR

Arweave's founder announced breakthroughs in AI with the AO super-parallel computer.
Bank of Japan's Governor said no to a central bank digital currency with negative rates.
Spot Bitcoin ETFs are 26% of BlackRock’s and 56% of Fidelity’s 2024 inflows.
Hong Kong's spot Bitcoin ETF had a net inflow of about $31 million yesterday.
200 Bitcoins, worth $13.87 million, moved after 11 years of dormancy.
Hong Kong's Pandu Blockchain ETF includes Nvidia and other tech stocks.

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Alpha of the Day

Arweave’s AI Breakthrough: Enter the AO Super-Parallel Computer

In a move that sounds straight out of a sci-fi novel, Arweave's founder has announced some major breakthroughs in AI technology using their new AO super-parallel computer. Imagine an army of tiny robots all working together to solve complex problems faster than you can say "machine learning." This bad boy promises to turbocharge AI capabilities, making yesterday’s cutting-edge tech look like a Game Boy Color. So, if you’re into the future of tech, buckle up, because things are about to get real interesting—and probably a little bit scary.

dYdX Chain v5.0: Upgrade Approved, Excitement Unleashed

The dYdX community has given a unanimous thumbs-up to upgrade their protocol software to v5.0. Think of it as the digital equivalent of upgrading from a rusty old tricycle to a sleek, turbocharged sports car. With this upgrade, users can expect faster transactions, better security, and overall smoother sailing in the crypto ocean. It’s like getting the newest iPhone, but for your blockchain needs—because who doesn’t love shiny new tech toys?

U.S. Bitcoin Spot ETF Scores $105 Million in Inflows

In a move that screams "we believe in crypto," the U.S. Bitcoin spot ETF saw net inflows topping $105 million yesterday. It’s like everyone suddenly decided to RSVP "yes" to the Bitcoin party. With this kind of cash flow, Bitcoin is the rockstar of the financial world, attracting fans and skeptics alike. So, grab your virtual popcorn and watch as the crypto rollercoaster continues its thrilling ride.

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Bank of Japan’s Governor: No Negative Interest Rates for Digital Currency

In a refreshing twist of sanity, the Governor of the Bank of Japan has declared they won’t be issuing a central bank digital currency with negative interest rates. Picture him as a stern but fair teacher saying, "No, you cannot eat candy for breakfast." This means the digital yen, if it ever happens, won't be some wacky experiment in paying people to take loans. Sensible? Yes. Exciting? Maybe not. But hey, sometimes boring is good.

Bitcoin ETFs: BlackRock and Fidelity’s New Cash Cows

Bitcoin ETFs are like the latest must-have gadget, making up 26% of BlackRock’s and a whopping 56% of Fidelity’s 2024 inflows. It's like these financial giants just discovered the iPhone and can’t stop selling them. Investors are clearly on board, seeing these ETFs as their golden ticket to the Willy Wonka world of crypto profits. So, expect more Bitcoin buzz and even more dramatic headlines.

Roaring Kitty vs. ETrade: The Battle Begins

Roaring Kitty, the internet's favorite stock market superhero, might be facing a ban from trading on ETrade. According to the Wall Street Journal, our feline friend could be getting his paws clipped. This is like telling Batman he can't use the Batmobile. Fans are waiting with bated breath to see if the claws come out in this latest twist of the GameStop saga.

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Hong Kong’s Bitcoin ETF Rakes in $31 Million

Hong Kong’s spot Bitcoin ETF saw a net inflow of about $31 million yesterday, making it rain in the crypto world. It’s like everyone decided to bet on Bitcoin while having their morning dim sum. This inflow signals strong confidence in the digital currency, making Hong Kong a hotbed of crypto excitement. Get your chopsticks ready, because the crypto feast is on.

The Great Bitcoin Awakening: 200 BTC Moved After 11 Years

In a plot twist worthy of a blockbuster movie, 200 Bitcoins, valued at around $13.87 million, moved after being dormant for over 11 years. It’s like finding a treasure chest buried in your backyard. The crypto world is abuzz with speculation—who’s behind this ancient stash, and what will they do next? Stay tuned as this digital mystery unfolds.

Pandu Blockchain ETF Bets on Tech Giants

The Hong Kong-listed Pandu Blockchain ETF just revealed it’s holding Nvidia and other tech stocks, making it the nerdy cousin of traditional ETFs. Imagine a basket of stocks that’s as geeky as it gets, loaded with the power players of the tech world. Investors looking for a slice of the future are eyeing this ETF like it’s the next Marvel blockbuster. If you’re into tech and crypto, this might just be your perfect match.

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Daily #Crypto Alpha | June 4 2024
• #Arweave's founder announced key breakthroughs in AI technology with the AO super-parallel computer.
• The community approved the upgrade of #dYdX Chain protocol software to v5.0.
• The U.S. Bitcoin spot ETF had net inflows… x.com/i/web/status/1…
— WAGMI | Crypto, DeFi & Web3 News (@wagmiglobal_)
6:18 AM • Jun 4, 2024

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