Things for Solana have been more of a mixed bag. SOL has dipped, but the network's DeFi ecosystem surpassed $2B for the first time since 2022.
Bitcoin and Ethereum were mostly flat on Tuesday morning while the Solana price sagged by 5% compared to yesterday.
Even while trading mostly flat, the price of Ethereum managed to very briefly inch past the $3,000 mark before falling back to $2,932.95 at the time of writing, according to CoinGecko data. It's down 0.4% from yesterday but has gained 11% since last week.

Meanwhile, Bitcoin seems to be taking a breather after looking like it was going to reach $53,000 yesterday. At the time of writing, Bitcoin is changing hands for $51,491.97—a 0.8% drop from the same time yesterday, according to CoinGecko data.
BTC has been enjoying a lot of attention and renewed enthusiasm because of all the action on spot Bitcoin ETFs in the U.S. Net flows for the funds have already surpassed $3 billion as of last week.

All that hype has been compounded by the upcoming Bitcoin halving, which traders are expecting will launch the world's oldest and biggest assets by market capitalization into a bull market.

Things for Solana have been more of a mixed bag.

The total value locked in DeFi projects on the network—launched in 2020 as a direct competitor for Ethereum—has topped $2 billion for the first time in a long time. But SOL, the native token of the ecosystem, has taken a beating on its price since yesterday.

At the time of writing, SOL is changing hands for $105.40—down 6.5% since yesterday and 3.2% lower than it was a week ago, according to CoinGecko.

CME Group Debuts Bitcoin, Ethereum Futures For Europe

With U.S. dollar-denominated funds surging, the derivatives marketplace pitches a euro-based version.
The CME Group will be launching euro-denominated micro Bitcoin and Ethereum futures next month, answering surging demand in the derivatives market.
The Chicago-based trading firm announced on Tuesday that it would launch the crypto futures for the European market due to the popularity of U.S. dollar-denominated counterparts.

The futures will launch on March 18, pending regulatory review.
CME Group is the world’s biggest derivative marketplace, made up of four exchanges.

Futures are a type of contract where an investor must buy or sell the underlying asset at a given price at a predetermined expiration date. “Micro futures” refer to slivers of the underlying asset. In this case, CME Group said they will be one-tenth of a Bitcoin (BTC) or Ethereum (ETH)—the two biggest digital coins which are currently priced at $51,538 and $2,940, respectively. Offering minimal fees and better liquidity, such products have been popular for traders for years, allowing them an alternative to spot crypto ETFs—at least before Bitcoin-based investment instruments became widely available in the U.S.

“Year-to-date, 24% of Bitcoin and Ether futures volume at CME Group has been transacted from the Europe, the Middle East and Africa region,” said Giovanni Vicioso, CME Group’s global head of cryptocurrency products, in the announcement. “We continue to develop additional tools for clients there to hedge their crypto portfolios and express or take a view on potential market moves.”
He added that the CME Group had “seen a four-fold increase in volume” in their U.S. dollar-denominated counterparts.

CME Group first launched BTC futures back in December 2017. Since then, it has launched ETH futures and micro futures for both digital assets. A CME Group executive in 2022 said that the market place was assessing the release of Solana (SOL) and Cardano (ADA) futures, too.

20 best upcoming crypto airdrops in 2024

Some of the best upcoming airdrops in crypto for 2024 include Pryzm, Kinetix, Berachain, LayerZero, and more.
Looking for an easy way to earn free crypto? Look no further; that’s what crypto airdrops are for. Think of it as a giveaway from crypto projects to users interacting with the project. It’s an absolute win-win for both users and hosting projects. The projects get to welcome new users, and in return, these users enjoy free digital assets by completing a few easy steps.

Best Upcoming airdrops
The table below shows an in-depth list of upcoming airdrops to watch out for in 2024. Pryzm Zone airdrop
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Own blockchain
Layer-1 chain
Hard
Confirmed
Kinetix Finance airdrop
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Kava
Perps exchange
Medium
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Bluefin airdrop
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ClayStack airdrop
Read More
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Eth staking/restaking
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HomeCrypto NewsMarketGoogle Bard and ChatGPT Predict VeChain Price After Bitcoin Halving
Google Bard and ChatGPT Predict VeChain Price After Bitcoin Halving
DATE:

FEBRUARY 20, 2024
WRITTEN BY:

SAM WISDOM RAPHAEL
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Vechain VET
Vechain VET
AI chatbots Google Bard (Gemini) and ChatGPT have made some bullish predictions for VeChain (VET) price in the aftermath of the upcoming Bitcoin halving.

The Bitcoin halving is expected to occur in April, with multiple forecasts projecting the crypto asset to hit lofty price targets. Some analysts like Gert van Lagen also expect BTC to record massive price surges even before the halving.

According to Gert van Lagen, Bitcoin is capable of clinching a $200,000 price pre-halving. Should this materialize, the crypto asset could witness a more substantial price growth after the halving. Last month, PlanB leveraged his S2F model to predict a BTC price of $532,000 after the halving.

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If Bitcoin hits any of these targets, the resulting impact on the broader crypto market would be massive. This would trigger a substantial price run, affecting altcoins such as VeChain (VET). However, it is difficult to assess the extent of such a price rally.

As a result, we sought insights from AI algorithms, presenting a query to Google’s Gemini chatbot (formerly Bard) and OpenAI’s ChatGPT. We asked these AI chatbots what they think VET’s price could be following the Bitcoin halving.

ChatGPT and Google Bard Predict VET Price
ChatGPT’s response to the question was rather direct, following a jailbreak prompt. The chatbot expects VeChain to surge to $0.15 after the Bitcoin halving event. For context, VET currently trades for $0.0449, requiring a 234% increase to clinch the $0.15 target.

According to ChatGPT, VeChain’s ability to surge to this price target would depend on several factors, including a rise in investor confidence and historical patterns that see the broader cryptocurrency market skyrocket alongside BTC.

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ChatGPT Predict VET Price After Bitcoin Halving
ChatGPT Predict VET Price After Bitcoin Halving
While ChatGPT delivered a direct answer, Google Bard was more elaborate in its response. Bard suggested several factors to consider when forecasting VeChain’s price growth after the Bitcoin halving. These factors include the overall market sentiment, VeChain’s fundamentals, and past performances.

The AI chatbot presented three different scenarios for varying price targets. The first scenario considers a moderate rise in Bitcoin’s price and positive market sentiments. In this case, Bard predicts VET to rise to a range of $0.08 to $0.12.

In the second scenario, Bard considers a massive rise in Bitcoin’s price and a “euphoric” market sentiment following the Bitcoin halving. The chatbot expects VeChain to surge to the $0.15 to $0.20 price range in this scenario, with the lower spectrum aligning with ChatGPT’s forecast.

Google Bard Predict VET Price After Bitcoin Halving
Google Bard Predict VET Price After Bitcoin Halving
For the last scenario, Google Bard evaluated VeChain’s price based on a limited impact of the Bitcoin halving, envisioning a suppressed Bitcoin price and a neutral sentiment in the market. For this case, Bard believes VET would only hit between $0.05 and $0.07.

It bears mentioning that none of these price targets breach VeChain’s previous all-time high value of $0.27, which it attained in April 2021, a year after the last Bitcoin halving. Meanwhile, Bard cautioned that the price targets remain speculative and should not be considered investment advice.

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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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Author

Sam Wisdom Raphael
Sam Wisdom Raphael
Sam Wisdom Raphael is a seasoned crypto news writer and journalist with 5 years of experience covering blockchain, DeFi, and crypto developments. Sam's active presence in the crypto community complements his deep understanding of the crypto space, allowing him to craft comprehensible price analysis reports and tackle technical blockchain concepts.
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