Stay in the Know.

• FTX wallet dumping 😰

• Bitcoin Maxis to embrace NFT world ❓

• AI focused crypto tokens are exhibiting massive growth frenzy 🔥

Hey readers, we've got a weekend special for you, packed with insights. Time to get that smart money!

Market outlook 🫡

Price action has been fairly steady over the past 7 days for the crypto market, and Bitcoin, with some altcoins having explosive moments especially AI focused tokens.

However, after the release of news from the SEC in which the result of their settlement with the crypto exchange Kraken was released, the market started to take a hit.

Below shows the data for the last 7 days for Bitcoin. As you can see, it was fairly conservative until after the news release on February 9th. Bitcoin found a weekly low of $21,773, which compared to the weekly high below of $23,678, that is quite a drop.

So why has this news negatively impacted price action?

Well, the settlement reached by the SEC and Kraken was the decision to fine Kraken $30M AND to shut down crypto staking within the U.S.

Yes, you read that correct. The SEC are clamping down on staking within the U.S claiming these transactions act as securities and are not allowed.

So not only will this impact Kraken, who felt the full force of the SEC, but it will impact every major exchange offering crypto staking within the U.S.

This kind of news is big and could have a damaging impact on the entire crypto market heading into the weekend.

Be extremely cautious as the market is expected to be more volatile than usual due to this.

Are FTX wallets preparing to dump millions of dollars worth of assets on the crypto market?

Alameda Research who were a cryptocurrency trading firm, filed for bankruptcy on November 11th 2022 after Alameda's sister cryptocurrency exchange (FTX), experienced a solvency crisis, forcing them also to file for chapter 11 bankruptcy.

Here is where it gets interesting 🕵️‍♂️

The 'bankrupt' Alameda has had active transactions on 7th Feb 2023 involving multiple wallets with a couple million dollars worth of FTX native exchange tokens (FTT) being transferred.

This is an interesting occurrence because before filing for bankruptcy back in November, Alameda Research withdrew over $200 million from a variety of different addresses.

A quick breakdown below 👇

The transaction movement of these wallets are concerning for the crypto community as substantial damage was caused to hundreds of thousands of investors who had assets on the FTX exchange before it collapsed - with many unable to withdraw or access their funds even to this day.

The below image shows the recent transactions from the 'Alameda wallet' in question and these can be seen via the Flooz platform here.

As you can see, the significant movements included: 1.17M FTT ($1.86M), 1.32K MIM ($1.52k), 4.4k XVS ($25.19k) and, 620.33 CVX ($3.59k).

Either way this is not a good sign for the short term future of crypto especially with the possibility of these assets being sold off in large volumes to cover debts related to Alameda Research. If you want to read more about this, check it out below 👇

What could this mean for the market?

Although a few million dollars worth isn't super concerning for the market, the main concern here is that Alameda had already discovered over $5 billion worth of liquid assets last month.

Combining this with their estimated $3 billion worth of debts owed, the fact that there is movement within their wallets could speculate that they are preparing for more future movements.

To put things into perspective, if they were to start selling off these liquid assets to reduce debts, the market could be hit hard. - This would however depend on what assets they offload and the volumes they do it in.

There is no timeframe or certainty of this, so keeping an eye open would be recommended.

Bitcoin Maxis to embrace NFT world?

Could this be the transformation for NFT community?

Typically Bitcoin and Non-Fungible Tokens (NFTs) have not gone hand in hand. The idea of them mixing together caused concerns; security and fees mainly. In fact, Bitcoin and NFTs are so out of touch that there have only been two successful attempts to integrate these together.

The first was the Rare Pepe collection launched by Counterparty in 2014 which you can read more about here. The second integration of this phenomenon was in 2017 but this time with stacks.

So why would Bitcoin Maxis move into the NFT world this time?

Firstly, there is no guarantee that this will happen. However, with the launch of Ordinals (the most recent NFT launch) in January this year, the reaction from the community was better than anticipated but still mixed reviews.

Where would we be without some FUD ❤️‍🩹

It also appears there are some loophole opportunities being taken, this time in the form of 'Bitcoin Punks' which are exact copies of the famous 'Crypto Punks' collection being added to the Bitcoin blockchain.

Dan is a long term Bitcoin user and this tweet would indicate that he is not against the idea of the Ordinal NFT launch on the Bitcoin blockchain. Although what is even more interesting is that he says "Hal Finney would like Bitcoin NFTs." Which is where you may be thinking, who the hell is Hal Finney?

Hal Finney who died in 2014, was one of many people who was believed to be Satoshi Nakamoto (An alias); the creator of Bitcoin.

So Dan's tweet is a big statement as it provides an image of an email sent by Hal himself on his thoughts about crypto trading cards, which when linked to today's crypto world, would be in the form of NFTs.

Our conclusion on the Ordinals NFTs? 🤔

The fact there are increasing Ordinal inscriptions is a huge positive, but there is more to it than that.

Stats via Dune

The above data shows the significant increase in Ordinal inscriptions from January 10th up until morning of February 9th. The representations are daily mints (Red) and cumulative mints (Blue) which have hit highs of 12k daily mints and 33k cumulative mints! That is a BIG jump from the previous month 👀

There is a unique aspect to these NFTs as they are not your typical NFT. The Ordinals collection are written directly on Satoshis on the Bitcoin blockchain, without the need for a side-chain or extra token.

The above image shows the Ordinal Shrooms NFT collection which was released this month.

Another noteworthy point is that Ordinal inscriptions do not have smart contracts integrated into their NFTs as the Bitcoin blockchain is not capable. Now while this may cause concern for value, it could in fact be the complete opposite.

The incapability may increase the value of these NFTs for that very reason. And yes, I know that may sound confusing, but considering Bitcoins limitations and perceived 'store of value' as a result, we could see the same with these NFTs.

To conclude, the launch of Ordinals could spark increased interest and debate around NFTs and the Bitcoin community and overtime could drive significant traction for the NFT world. After all, the crypto space is ever-changing and embracing new additions and this could be another area of expansion, which is a positive indeed.

AI focused crypto tokens are exhibiting massive growth due to trend 📈

I'm sure you have heard of ChatGPT, and if you haven't, you should go and check it out as it is taking the world by storm. Here is an example of it in use.

We prompted ChatGPT, with the question "Why is AI trending in the crypto world right now?" and below was its response 😮‍💨

Pretty awesome if you ask us!

This leads us into the next wave trend within the crypto world, Artificial Intelligence (AI).

2023 has started off fairly positive for the crypto world, with Bitcoin moving from $16,500 at the start of the year, up to currently around $22,000 - $23,000 and in term helping move many altcoins up with it.

Although recently one trend that is seeing significant growth are AI tokens. Platforms like Alethea's Artificial Liquid Intelligence (ALI), fetch.ai (FET), and SingularityNET (AGIX) have experienced impressive gains, with some tokens soaring as high as 220%.

Fetch.ai (FET) in particular since the start of the year has moved from $0.09 to a high of $0.59... That is some incredible movement and nearly a 7x within 2 months! Just a glimpse of what AI tokens are capable of in the current climate.

Why are AI crypto tokens trending?

These tokens, which are built on blockchain technology and use artificial intelligence in various ways, are seeing massive growth and are gaining a lot of attention from investors

Are you looking to scoop up some trending AI tokens? NiFTy has you covered ↓

What's all the fuss about? One reason for this growth is the increasing use of AI in various industries, from finance to healthcare to retail. This has led to a growing demand for AI-based solutions, and AI crypto tokens offer a new way for investors to get in on this trend.

In addition to their practical applications, many AI crypto tokens also offer unique investment opportunities. For example, some tokens use AI to automatically manage a portfolio of other cryptocurrencies, allowing for hands-off, algorithmic trading. Others use AI to offer predictive analysis and insights into market trends, giving investors a new way to stay ahead of the curve.

Overall, the growth of AI crypto tokens is a clear indication of the growing demand for AI-based solutions and the potential for investment in this space.

You can read more about why AI crypto tokens are trending, and how they are outperforming Bitcoin below 👇

If you are interested in checking out some AI tokens, here are a few that are trending right now and can be found on the Flooz platform!

• Fetch.ai (FET) - Discover here

• The Graph (GRT) - Discover here

• SingularityNET (AGIX) - Discover here

Weekly Market Snapshot Update 📊

Total Crypto Market Cap (7 days)

Here's a snapshot of the Total Crypto Market Cap from the last 7 days (February 9th, just before the SEC news). It shows steady movement between the range high of $1.105T and low of $1.050T.

Below is a snapshot of the Total Crypto Market Cap (February 10th, after the SEC news)

Here you can see that the range high stays the same at $1.105T but the low changes to $1.012T, which is a $38B and 1 day difference to the above chart.

Top 10 Gainers (7 days)

Here's a snapshot of the top 10 gainers for the past 7 days (February 9th, just before the SEC news). SingularityNET (AGIX) tops the list with a 114.76% gain and a 24h volume of $377,633,099.

SingularityNet (AGIX) topping the table here is up 114.76% but how does that compare to its All Time High (ATH) and All Time Low (ATL)?

The ATH for AGIX sits at $0.950230 formed back in January 2018, which from current price is around 60% lower than it is at now.

Whereas the ATL is significantly different, sitting at $0.00747159, which is a MASSIVE 4944% away from where it is currently. Now that is a climb, although this ATL was back in March 2020, which surprisingly is 2 years after the ATH.

Top 10 Losers (7 days)

Here's a snapshot of the top 10 losers for the past 7 days (February 9th, just before the SEC news). Aptos (APT) tops the list with a 20.81% loss and a 24h volume of $703,011,233

How does APT compare to its ATH and ATL from current price?

Well, the ATH for APT is $19.92 which compared to the current price is roughly a 33% difference and this was formed on January 26th 2023, only 14 days ago!

As for the ATL for APT, this is set at $3.08 which is around 332% lower than the current price. This ATL was set on 29th December 2022, showing an impressive 332% increase in just 2 months!

Quick market summary 🌤

The market has been moving fairly consistently over the past 7 days as evidenced in the total market cap charts above. Bitcoin has been ranging between $22,000 and $24,000 during the past 7 days prior to the SEC news. However after, the low range was down to around $21,600.

Although some altcoins have been flying even with little movement at times for Bitcoin and could be as a result of the fluctuating bitcoin dominance recently.

AI tokens are taking the market by storm currently as they are the hype of the moment as seen in this weeks newsletter and evidenced in the top gainers table, where the top 2 gainers; AGIX and GRT are heavily AI focused tokens.

Will AI continue to trend? Well, AI is certainly becoming more popular within all industries, so there is no reason for its use case to slow down, however, as a trend within the crypto world, it will have to slow down eventually, so be cautious with your investments related to AI.

Now, that doesn't mean to cash out and not invest, but more seemingly to keep an eye on these trends and your investments.

The market has definitely taken a hit from the SEC and Kraken news related to staking, so as always be cautious and follow the market closely as higher volatility than normal is expected as a result.

Flooz News Room 🤌

3️⃣ insightful threads to top up your knowledge!

After the SEC and crypto exchange Kraken agreed on a settlement, the market has reacted, and it has definitely taken a hit, with a new weekly low of around $21,600 was hit.

These are some interesting stats around that for the past 24 hours. Especially the 24H Long liquidations 👀

Here's the breakdown of what is going on by the SEC themselves 👇

This is a reminder that the crypto world is always changing and adapting, so be prepared as you never know what will happen next.

Things may look bad, but there are always positives.

Here is Brad Garlinghouse the CEO of Ripple Labs, speaking about the positives that the crypto space is heading towards , especially related to global regulatory developments!

Build your crypto portfolio today 📲

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Written by Lewis, AKA Flooz Detective 🕵️

Authors of All Things Flooz newsletter own cryptocurrencies and stocks.

Stay sharp 🧐

Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions.