Prepare for take-off! Ethereum’s Layer 2 networks are witnessing an insane fee boom, with a whopping $16.2 million in mainnet publishing fees registered in May. This is not just any increase – we’re talking a meteoric 500% surge from the figures we saw in January. This signifies not just the growing popularity of L2 networks, but also the massive potential for profit in this arena. MATIC is one of these enjoying a 500% profit boom and down -40% in price is making it enticing for crypto investors.
You must have spent the past few months living in a cave if you have not heard of ChatGPT! Well, the latest happenings have seen NVIDIA (NVDA) continued its bullish run-on Friday after impressive earnings and forecasted figures for 2023 and seems set to jump on the ChatGPT bandwagon. During a conference, NVIDIA announced an AI supercomputer platform called DGX GH200 that will help tech companies create successors for ChatGPT. Microsoft, Meta and Google are expected to be among the first users to adopt this.
Not to be outdone, Solana Foundation has launched a revolutionary ChatGPT plugin, empowering users to seamlessly buy and list NFTs, transfer tokens, and interpret data on the Solana network. The plugin implementation showcases the transformative potential of AI in blockchain technology and just proves to investors that AI is growing as fast as crypto as a tech to start getting interested in and into. As really, this is just the beginning.
In other news, the pioneering Web 3.0 project Stably has launched the first BRC-20 stablecoin – Stably USD – on the Bitcoin network. Stably currently posts a respectable $110k market cap but at this price, it could be a dark horse to watch out for in the crypto world.
As for the general economy, it was revealed last week that Washington is looking to suspend the $31.4 trillion federal debt ceiling until January 2025. This would be in exchange for caps on spending and cuts in government programmes. This deal will now go to Congress for a vote, but a handful of hard-right Republican lawmakers have said they will oppose it.
This news prompted investors to continue the bullish breakout on Friday and if this goes through Congress without any challenges, we could see bullish momentum for the next few days.