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Brett Harrison, the former president of FTX US, is launching a new trading platform for institutional investors to trade futures and crypto assets. Harrisons Architect Financial Technologies Inc. is launching the new trading platform to cater to exchanges and trading entities including CME Group, Coinbase Global Inc., and Uniswap.

According to a report by Bloomberg, Architect Financials trading hub will also offer clearing services for futures trades in collaboration with StoneX Group Inc. and Wedbush Financial Services LLC. Additionally, the new platform plans to enable over-the-counter (OTC) trading using several crypto market makers including Wintermute and Mike Novogratzs Galaxy Digital.

One of the things I have learned is security and trust is paramount in building a trading platform. As we designed Architect we have come up with security features to ensure clients remain in control of private information such as wallets, keys, and account information.

Harrisons new venture will reportedly not manage or trade funds for clients. Its primary role will be to connect users to systems in crypto and futures markets using its software. Architects roadmap includes offering multiple asset classes including equities, options, and fixed income. Speaking on investors confidence in his firm, Harrison revealed that it was attracting tremendous interest.

Harrison set up Architect in January 2023, almost four months after he relinquished his role at the helm of the bankrupt crypto exchanges American arm. According to Crunchbase, the firm raised $5 million in its initial funding round, which was held in January this year. The funding round saw participation from crypto heavyweights like Coinbase Ventures and Circle Ventures. Other investors include Anthony Scaramucci and Motivate Venture Capital.

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FTX USs Former President Launches Trading Platform For Crypto And Futures - Ethereum World News

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writers opinion

If you are considering adding proof of work cryptos in your portfolio, chances are you have shortlisted Ethereum Classic (ETC). It is one of the few remaining options in the PoW category, but you may have also noticed that it has been overshadowed, particularly by its counterpart Ethereum.

Ethereum Classics performance so far this year confirms that it can still attract investor attention. However, the network has been losing popularity from a long-term perspective. Speaking of popularity, artificial intelligence has really taken off this year, with ChatGPT leading this charge.

Perhaps, we can leverage the power of AI to try and find out what the future has planned for ETC. I asked ChatGPT about Ethereum Classic and the interaction was rather interesting. The initial plan was to establish the depth of the AI before going deeper into the type of information that I wanted to pursue.

The first question requested ChatGPT to provide a detailed and concise explanation of Ethereum Classic and its fundamentals. Heres the response

Here is the response after switching to dark mode and requesting a shorter version

The AI seemed to have a good handle on things based on the information it provided. However, there have been incidents where it generated inaccurate information, hence the need to verify information. Now that we had a good base, it was time to up the ante a bit. But first, those keeping a close eye on ETC may have noticed that its community has not been very active. Its development has also lagged behind that of Ethereum and other networks.

Our next query focused on establishing why the Ethereum Classic network is less popular than Ethereum. It gave the following reasons

AI generated all the the above points but they are difficult to argue against. In other words, ChatGPTs answers were spot on

I was curious to find out what the AI had to say about Ethereum Classics advantages over its more popular counterpart. It responded with the following points

So far so good, but the above answers got be thinking about the kind of scenario where Ethereum Classic would achieve mass adoption. These were the brief points that ChatGPT shared

The aforementioned points highlighted some of the key advantages of sticking to a proof of work system with a heavy focus on decentralization. These characteristics would make the network and its native coin more preferable, especially in case of a harsh regulatory crackdown. Regulators, especially in the U.S, have adopted an aggressive position against cryptocurrencies but not to the extreme, yet.

While still thinking about Ethereum Classics prospects, I decided to explore whether the AI can have insightful predictions regarding ETCs prospects. More specifically, I wanted to know how soon ETC can reach ETHs $1,900 press time price. Unfortunately, the language-based AI algorithm could only do so much and predictions were the limit. Here is the answer that it provided

That would have been the end of that attempt, but I recently found out about the DAN (do anything now) jailbreak prompt which unlocks some limitations. Moreover, ChatGPTs algorithm learns and it can also organize raw data into a more useful format. Thus, an idea was born.

What if we could somehow get chatGPT to understand the history of ETCs price action, including previous price patterns? We could potentially get it to give a more concrete answer regarding price predictions. Or so I thought. Unfortunately, none of the prompts including the jailbreak offered a concrete outcome where the AI could read the price charts and identify price patterns.

After having a fine, I will do it myself moment, I embarked on assessing ETCs latest price action.

On 13 April, the price of ETC increased as the cryptocurrencys recent uptrend gathered momentum. The price of the coin increased to a high of $22.47, which is the highest point since March 18 of this year. From this years low, the coin has increased by more than 53%.

This week, the price of ETC is being driven mostly by three factors. The ongoing Bitcoin price surge, which we reported here, comes first. The coin broke through critical resistance at $30,000 during this rally for the first time since June of last year. It has already increased by more than 80% this year, outperforming Tesla, equities, and gold. Bitcoin and other cryptocurrencies, like Ethereum Classic, are closely related.

Second, the most recent US consumer inflation statistics released on Wednesday had an impact on the price of Ethereum Classic. According to the data, the Consumer Price Index (CPI) for March dropped to 5.0%, the lowest level since 2021. Additionally, core inflation declined month over month. As a result, the Federal Reserve may change course shortly. This adjustment would include raising the stalling rates and maintaining them for a while.

Last but not least, Ethereum Classic Reacts to Wednesdays Shapella Upgrade, whose activation allowed Ethereum Stackers to withdraw their tokens. The amount of Ethereum staked, according to data from Staking Rewards, is over $37 billion.

The resistance retest suggested that the price may potentially register a pivot. However, ETCs money flow indicator revealed that liquidity is still flowing into the cryptocurrency. An extended rally in the next few months may be on the cards, especially now that ETC is still heavily discounted by as much as 88%. Long-term predictions still remain within the realm of uncertainty.

Is your portfolio green? Check out the Ethereum Classic Profit Calculator

Using the ChatGPT AI did offer a significant advantage especially in terms of speed of accessing data. While it does not allow for price predictions, it does offer some valuable information. Contrary to expectations, it is still not able to do everything.

Originally posted here:

I probed ChatGPT as to Ethereum Classics price prediction, and heres the result - AMBCrypto News

At least a few Ethereum enthusiasts are as bullish as ever on the network.

Per data collected from Nansen, gross staking deposits have hit $198.7 million, or 94,800 ETH, over the past 24 hours.

Staking has taken center stage following the networks latest Shanghai upgrade on Wednesday. This change allowed users who potentially had their ETH locked up for two years to finally withdraw their holdings. Staking is when users pledge cryptocurrency to the network to keep it running. Ethereum requires staking because it now runs on a proof-of-stake blockchainwhich uses validators instead of miners to secure the network.

Those who stake earn digital currency rewards in the process. Ethereum made the move to proof of stake last year in a highly-anticipated transition, known as the merge.

Getting back to the latest data, ETH deposits are still negative, however, indicating that there remain overall more entities withdrawing than staking assets.

Thats expected since its just the beginning, Nansen analyst Martin Lee told Decrypt. Validators that have accrued excess ETH from earnings would want to unstake since theyre only accruing rewards on 32 ETH.

Validators can either choose between a "partial exit" or a "full exit" when leaving the network. A partial exit refers to validators simply skimming off any accrued rewards, but continue to keep their 32 ETH stake on the network. A full exit refers to validators that choose to withdraw their rewards, initial 32 ETH deposit, and leave the network entirely.

Interestingly, yesterday there was even a brief moment in which deposits far outpaced withdrawals, with 27,000 ETH deposited and just 7,615 ETH withdrawn.

"Top deposits so far have come from a few entities. Lido, OKX, Kiln.fi, Frax," said Lee. "However, most notably from this wallet that we have labeled as 'P2p ETH2 Depositor.' [They] Deposited 50,000 ETH."

Source: Nansen

As for withdrawals trending downward, Lee indicated that the network will soon hit a baseline once this first wave of validators can claim any accumulated rewards.

Its expected to see a surge at the start since, as mentioned above, even validators that want to continue staking would want to withdraw their accrued earnings and restake it, he told Decrypt.

At press time, there are more than 874,000 ETH still waiting to exit the network.

Based on current trends, though, its likely that some of that ETH will get put right back to work.

Continued here:

$198M in Ethereum Staked to Network in Last 24 Hours - Decrypt

Ethereums post-Shanghai bull run has hit a lull.

Its price touched lows of $2,080 on Monday morning, while Bitcoin struggled to hold onto the $30,000 support level.

The bullish run-up may have been paused in part due to the U.S. Federal Reserve's statements regarding one more rate hike in the upcoming May policy rate meeting.

Additionally, withdrawals from Ethereum staking contracts continue to outpace deposits, potentially adding sell pressure to the asset, per data from Nansen. On April 15, there was also a massive 85,393 ETH withdrawal executed at 10 am ET followed by another 66,030 ETH withdrawal an hour later.

ETH withdrawals and deposits as of April 17, 2023. Source: Nansen.

Ethereum's price has risen roughly 12% since last weeks Shanghai upgrade. It enabled withdrawals of staked ETH from the proof-of-staking chain, a feature not available since staking was first launched in December 2020.

The network quickly saw a hefty inflow of deposits to the staking contracts and the market reacted positively to the successful change, with Ethereum propelled to new yearly highs above $2,129.

However, on April 14, statements from Fed officials that hinted at another rate hike in May strengthened the dollar. A strong dollar can have a negative impact on other, more risky assets such as cryptocurrencies and stocks.

Christopher Waller, a member of the Feds governing board, and Atlanta Fed President, Raphael Bostic, told Reuters on Friday that the Fed may go through one more quarter-percentage gain before ending its quantitative tightening to curb inflation.

The CME FedWatch tool, a survey of CMEs interest rate traders, currently places an 88.2% chance that the Fed will increase its rate.

Another rate hike makes the dollar an attractive investment in annual returns, too, potentially diminishing the appeal of top cryptocurrencies like Ethereum to investors looking for stable yields.

The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.

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Ethereum Tapers Gains After 12% Rise Post-Shanghai - Decrypt

Ethereum ETH/USD rival Solana SOL/USD and Avalanche AVAX/USD are up 3.8% and 6.7%, respectively, in the last 24 hours, even apex crypto Bitcoin BTC/USD and ETH weakened.

What Happened: Solana surged by 22.63% over the week and was last trading at $25.22.

This jump in price follows the recent launch of Saga, an Android smartphone integrated with the Solana blockchain, by Solana Mobile a subsidiary of Solana Labs. Additionally, Solana Labs has partnered with Boba Guys, a U.S.-based drink retailer, to deliver an on-chain loyalty reward program.

See More: Top Indian Apps That Give Bitcoin, NFT Rewards

Last week, the Layer 1 blockchain protocol Avalanche gained momentum, hitting a six-month high in daily active addresses.

According to Artemis.xyz, a blockchain data analytics firm, Avalanche recorded nearly 80,000 daily active addresses on April 12, and its daily active user base has grown by 85% in the last 90 days. Interestingly, this growth rate places Avalanche ahead of popular protocols like BNB Chain, Tron, Ethereum, Aptos, and even Bitcoin.

At the time of writing, AVAX was trading at $20.67.

Price Action At the time of writing, BTC was trading down 1.52%, while ETH fell 0.32% in the last 24 hours, according to Benzinga Pro.

Read More: Ethereum, Dogecoin Rise Even As Bitcoin Drops Below $30K: Why This Analyst Thinks Apex Crypto Can Hit All-Time High This Year

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These 2 Ethereum Rivals Are Spiking Today, Outperforming Bitcoin - Emeren Group (NYSE:SOL) - Benzinga