ChatGPT’s manufactured memecoin turbo surges by 2,000% in just 3 months
The market capitalization of Turbo, a ChatGPT memecoin generated, is now over $600,000,000.
Rhett Mannkind, creator of TURBO and , used GPT-4 for the coin , with a budget as low as $69. Mankind is not involved in the creation of memecoin.
“Everything I have done has been to just try and make it decentralized.” Mankind wrote that I am not in charge. “I think the beauty in this is where it came from.” It kind of blew because I wasn’t running the show.
Mankind wrote the tokenomics, whitepaper and smart contract code for Turbo Community using AI.
Turbo’s Surge
In the last three months, the Turbo meme coin’s market capitalization has risen by over $600,000,000. This is the fastest growth spurt a meme coin has seen in a short time. This growth spurt occurs at a moment when the crypto community is becoming more interested in AI-based project.
AI-powered platforms use advanced algorithms to predict the market and create autonomous agent network. GPT-4, an AI tool that enhances smart contract development and ensures increased efficiency in blockchain applications, is a great example of how GPT-4 can be used. The Turbo ecosystem was a demonstration of the AI’s usefulness.
Coinmarketcap reports that the coin’s price has risen by over 550% within the past seven days. It is currently at $0.008492.
The token can be found on more than 30 crypto exchanges including Okx Bitpanda and Bitget.
After ETF approval, Ethereum vehicles bring in $36m
The U.S. SEC’s approval of the Ethereum ETF improved investor sentiment towards crypto’s second largest asset, leading to two-month-high net inflows.
According to a CoinShares May 28 report, Ethereum ( and ETH investment products) recorded $36 Million inflows for the first week since March. The increase in net flows comes after the U.S. Securities and Exchange Commission approved 19b-4 form, signaling approval for proposed rule-changes allowing national exchanges list spot ETH.
The news of the approval led to a 30 percent increase in Ethereum’s market cap over the past week. It is now at $450 billion and its tokens are nearing $4,000 each. After 10 weeks of bearish sentiment, this sruge was a sign of a shift in the market’s attitude.
CoShares analysts believe the recent price surge is likely a reaction to the approval of the ETF. However, the future direction of the trend remains uncertain as actual trading in the ETH ETF will not begin for several weeks.
Ethereum investment surges with the broader market
Inflows of ETH vehicles coincided with a streak of three weeks for digital asset investments products. Investors invested $1.05 billion across several crypto funds last week.
The majority of investments went into U.S. Bitcoin ETFs ( BTC). BlackRock’s iShares Fund, with $719 millions, was the largest contributor to $1.03 billion in weekly inflows.
The improved investor demand for these crypto-investment channels has pushed the cumulative year-to date flows to a record high of $14.9 Billion.
