In this report:
- Latest Crypto News: Solana Integrates with ChatGPT
- AI Trading: Blackrock's Aladdin - Trading System
- Top 100 Gainers (7-days): Render (RNDR) +18.4% (7d)
- Micro-Cap Gainers (30-days): Fief (FIEF) +689% (30d)
- Monthly Altcoin Pick: Altcoin Pick will be released in a few days
Latest Crypto News:
The crypto market has continued to move sideways throughout the week, with Bitcoin and Ethereum trading at similar prices from last week.
Here are the latest stories over the last week:
The World's Biggest AI Trading System
Blackrock, the biggest company in the world (you have likely never heard of) has over 9.74T dollars in assets under management. To put this into perspective (Market Watch estimates, there is currently around $40 trillion in circulation around the world), this means that BlackRock manages a quarter of the world’s money!
Blackrock Bets on AI Genie - Aladdin
How did Blackrock become the biggest company in the world? Its growth has largely been attributed to its AI trading software - Aladdin.
Aladdin (Asset, Liability, Debt, and Derivative Investment Network) is an Artificial intelligence trading system built by BlackRock Solutions and is believed to manage over $20 trillion in assets - becoming the world's most powerful risk management systems for some of the largest players in the investment management industry. To put this into perspective, this is equivalent to half of the money in the world.
Aside from the fact both Blackrock and its asset management software are not well known, yet is the largest company in the world with more assets under management than any other company, much of its success has been attributed to its algorithmic trading system - Aladdin.
Already, it is estimated that 70% of the overall trading volume in the U.S. equity market is generated through algorithmic trading. With the recent advancements in AI technology, it will just be a matter of time before the majority of all trades (stock and crypto markets) are performed by AI.
AI Crypto Trading is the Future - ChatGPT +500% Return
Meanwhile, the ChatGPT trading algorithm delivers 500% returns in the stock market. The future of trading is certainly heading in the direction of AI trading and as this market continues to develop, we continue to cover this segment of the market.
Within the crypto market, there are already a number of AI trading bots. So far, the best AI trading bot we have found has been Stoic.ai. This AI crypto trading bot claims to be able to be profitable in any market condition and is fully automated. Just set it up, define your risk profile and it takes care of the rest (currently only integrated on the Binance exchange).
As new AI trading bots hit the market, we will be reviewing them and letting you know our findings. If you know of an AI trading bot we should review, please leave your suggestion in the comments below.
For more on AI trading bots, check out: Top 6 AI Trading Bots for 2023
Crypto Market at a Glance (7D):
Crypto Fear & Greed Index:
Today's Crypto Fear and Greed index = Neutral -- Increased to 49 (from 48 last week).
Bitcoin & Ethereum Price Movement
Bitcoin has decreased 0.04% in the last week, currently trading at $26,815 (90-day high of $31,005). In the previous 90 days, Bitcoin has increased by 16.8%.
Ethereum has increased 1.4% in the last week, currently trading at $1,836 (90-day high of $2,137). In the previous 90 days, Ethereum has increased by 16.1%.
Global cryptocurrency market capitalization decreased slightly this week from $1.124T to $1.122T.
Top 100 Gainers - Last 7 Days
Over the last 7 days, the biggest gainers (within the top 100):
Render Token (RNDR) +18.4% - Ranked #43
This is the second week in a row, Render has made the top of this list. The Render Token, also known as the Render Network, is a service that provides decentralized GPU-based rendering solutions. It was founded by Jules Urbach, CEO of OTOY, in 2016 with a vision to democratize GPU cloud rendering.
The Render Network aims to revolutionize the digital creation process by allowing users to perform render jobs using the idle GPUs of others connected to the network. This is achieved using a system where "Node Operators" (those who have registered their idle GPUs on the Render Network) can accept jobs from "Creators" (users in need of rendering work).
These jobs are processed using OctaneRender, a GPU-accelerated, unbiased, physically correct renderer. The Render Network receives a small percentage of the Render Tokens (RNDR) paid out to facilitate the transaction and maintain the network.
Kava (KAVA) +11.41% - Ranked #68
Kava (KAVA) is a cryptocurrency and blockchain platform designed to enable decentralized finance (DeFi) applications. It is built on the Cosmos blockchain, a network of interconnected blockchains that allows for interoperability between different applications.
One of the key features of Kava is its ability to enable cross-chain transactions. It allows users to collateralize their digital assets, such as Bitcoin (BTC) and Ethereum (ETH), and generate stablecoins called "Hard Protocol" (HARD) tokens. These stablecoins can then be used for various DeFi applications, providing users with access to liquidity without having to sell their underlying assets.
Huobi Token (HT) +10.5% - Ranked #78
Huobi Token (HT) is the native cryptocurrency of the Huobi Global exchange, one of the largest cryptocurrency exchanges in the world. HT operates on the Ethereum blockchain and serves as a utility token within the Huobi ecosystem.
TRON (TRX) +8.45% - Ranked #11
Tron (TRX) is a cryptocurrency and blockchain platform that aims to decentralize the internet and create a global digital content entertainment ecosystem. It was founded by Justin Sun in 2017.
Tron's primary goal is to enable a decentralized infrastructure for content sharing and distribution, eliminating intermediaries and giving control back to content creators and consumers. The platform operates on a blockchain-based protocol that facilitates the creation, hosting, and sharing of digital content in a peer-to-peer manner.
Meme Coins Continue to Pump
While the rest of the market is moving sideways, meme coins continue with their growth streak. Here are some of the best-performing meme coins over the last 30 days
Best Meme Coin Research Tool
If you missed out on the Pepe craze and looking for the next freshly minted meme coins which are getting traction (it's how I originally found Pepe), or just want to get in early on a brand new project with great potential - Check out Moralis Money.
First, read our 100x Altcoin strategy article which discusses how to use this tool.
Biggest Micro-Cap Gainers in the last 30 days
Every week we review and analyze small and micro market cap cryptos looking for the next low-cap gem. These are the best-performing (quality) micro-cap projects over the last 30 days:
Best Performing Quality Micro Caps (Last 30 days):
- GFAL +212% - Web3 Gaming Platform (Micro-Cap)
- SAUBER +200% - Alfa Romeo Fan Token (Nano-Cap)
- OVR +140% - AR Metaverse (Micro-Cap)
- FORT +104% - AI Web3 ThreatDetection (Micro-Cap)
- OXO +88.9% - AI + Privacy on DeFi Platform (Micro-Cap)
Monthly Altcoin Pick:
We will be releasing our Altcoin Pick for May in a few days. If you would like access to this Altcoin Pick and future ones, please consider becoming a member. Altcoin picks are emailed to members as soon as they are published and this is the strategy we use for choosing them.
Our Altcoin Picks for the prior months can be found here.
If you would like to support this publication and have access to member benefits, such as our monthly Altcoin Pick, signup here.
Thanks and appreciation to all our members!
Until the next report,