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Good Morning, Switchers 🌞
👋Welcome to Switch Daily.
🌨️December is in. It’s getting wintry in patches, both in and out of crypto. The markets — off-shore and on-shore — aren’t exactly filled with joy either. And while most of us are all set to start afresh in 2023, crypto 2022 might just have a few more cards to unfold or tweets to unfurl. Potato, Potahto!
Here is why we think so:
6-7 December 2022 saw representatives of two blockchain behemoths — Polygon and Solana — get to proverbial mud-slinging on Twitter. Mert Mumtaz, Co-Founder of Helius Labs, started the chain of statements, projecting Polygon as a VC fund monger. Sandeep Nailwal— Polygon Co-Founder — responded, saying that the tweet felt absurd coming from an ecosystem that’s (in) famous for its instability.
Enough dilly-dallying. Check out the entire Twitter squabble here.💥💥
And while two massive ecosystems were going at each other, other chains with fewer participants were like:
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Here’s what we’ve got for you today:
Market pulse
The Crypto-AI chat
Breaking news
Meme of the day
Market pulse 📈
The market is up like the insomniac 😳
It seems the crypto market took our condescending tone from yesterday a bit too seriously. It’s early Friday, and the market is already up 2.42% and not showing any intention of slowing down.
Key crypto assets BTC and ETH are pushing the “green” narrative by being up 2.46% and 4.42%, respectively. Among the top gainers, the community-driven Threshold Network is leading the way with a 16.95% uptick, day on day. Fetch.ai (FET) continues its streak, currently sitting on a 13.39% upmove since yesterday.
On-shore crypto index CRE8 is also trading in the green, up 1.65% at the time of writing.
Crypto gets chatty with AI 💬
Are you obsessed with crypto? And do you think AI is the future, well, of everything? If yes, you might have already heard about OpenAI’s ChatGPT — a conversational AI that has been making all the news this week. 🗞️
Today, in this edition of Switch Daily, Crypto intersects with AI as we ask ChatGPT elementary questions, putting on the early crypto investor hat. And yes, the questions run into thousands, but for now, we just ask two. ✌️
ChatGPT, for now, is the closest thing to Human-like Artificial Intelligence, at least for the crypto community. When asked, it thinks and responds. Some answers are debatable. But if you are a crypto noob, enthusiast, trader, or a curious Switch Daily reader, ChatGPT might just be “Coffee to your Mornings.” ☕
Helps sort the right cryptos
Imagine you have recently come across a term called the “metaverse.” And now, you are looking for a reference point that would allow you to pick from the best metaverse projects and cryptos. Well, ChatGPT can help:
Here is an AI prompt we used:
What are the best decentralized metaverse projects?
Here is the response:
See how it circled in on the likes of Decentraland, Axie Infinity, and The Sandbox, albeit with generic explanations. This might just be a good starting point if you are new to crypto and still exploring.👍
Helps build a better understanding of a use case
Confused about DeFi or decentralized storage. With ChatGPT, you can use the right prompt to find the right answers.
Here is us asking ChatGPT to explain Decentralized storage like a 10-year-old while suggesting a few projects:
The definition of “Decentralized Storage” was on point. And the choice of projects — Filecoin and Storj 👌. Damn, ChatGPT just excelled at this answer!
From intent to persona, ChatGPT is making it easier to understand crypto by customizing the way you want to consume content. This gives it an edge over Google, especially for the DYOR (Do-Your-Own-Research) part.
Yet, some loopholes remain. It still requires hugely specific prompts. So we will still need people who ask the right questions. Sigh! 😌
It still cannot read the market, catch the latest events as the data feed is up till 2021, or return the technical analysis of key crypto assets. For that, you will always need the Switch Daily by your side. 😉
🤝 Nevertheless, the Crypto-AI marriage is off to a fine start! 🤝
Consider this: Each of us might soon have a personal Jarvis. How cool would that be!
Here is the link to ChatGPT. Try it out and thank us later:
User tip: Aim for static topics, as dynamic and real-time updates aren’t in yet.
What’s breaking the crypto internet today? 🔥
Osmosis, the largest decentralized exchange of the Cosmos chain has launched a new trading exchange solely for stablecoins. Termed Stableswap, this protocol allows traders to swap stablecoins easily. The new DEX-based trading exchange plans to compete with Ethereum’s go-to stablecoin exchange — the Curve. Osmosis has plans to support multiple stablecoins — both popular and new.
Beta testers will be the first ones to experience Starbucks NFTs, which doubles down as a loyalty program. During the initial September 2022 announcement, Starbucks mentioned that owning these NFTs will give users access to immersive coffee-specific experiences — including artist collaborations and merchandise. Polygon is the choice of ecosystem for powering the Starbucks NFT program.
The Ethereum developer community is looking at a March 2023 release of the staked Ether. As planned, this network upgrade, or rather a hard fork, will be termed Shanghai. The developers started working on the upgrade code in November, which was obvious with the launch of the Shandong testnet. Post Shanghai, 2023 might see another Ethereum hard fork with a focus on improving scaling via sharding.
Meme of the day!
Thank You,
See you tomorrow, folks. 👋
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