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- š¤ Insider Trading on Moonbirds Acquisition?
š¤ Insider Trading on Moonbirds Acquisition?
Plus: Record of $2.5B Inflows while OpenAI's Sora Release Causes AI Tokens to Surge
āļø GM
Est. read time: 4 minutes
We reported last week that Moonbirds saw crazy price action out of nowhereā¦ and just one day later it was announced that Yuga acquired Moonbirds š¤
Letās digest:
1. Insider Trading? Moonbirds Sales Surge eBfore Yuga Acquisition Announcement
2. Record of $2.5B Inflows as a Result of Interest for Bitcoin ETFs
3. OpenAIās Sora Launch Causes Price Action in AI Tokens
š MARKETS
NFT Market Flash

Market Flash
š° TODAYāS TOP STORY
Insider Trading? Moonbirds Sales Surge before Yuga Acquisition Announcement

Yuga X Moonbirds
Yuga Labs, creator of Bored Ape Yacht Club, acquired Proof XYZ and Moonbirds on Friday, stating that the acquisition is to get closer to their goal of being the āfront door of Web3.ā
In the days leading up to Yuga Labs' acquisition of Proof and the Moonbirds NFT collection, significant increases in sales volume and asset prices have sparked speculation regarding potential insider trading.
CryptoSlam revealed that before February 14, Moonbirds NFTs experienced daily sales volumes consistently below $100,000 throughout the month.
However, sales volume surged to approximately $460,000 on February 14, nearly five times the previous day's total, followed by $333,000 in sales on February 15.
The trend continued with sales reaching around $3.1 million post-announcement.
The floor price of Moonbirds saw an increase from $2,680 to $5,000 in the days leading up to the announcement, with a peak over $6,000 following the news.
This unexpected surge in trading activity and prices before the official announcement has raised eyebrows with degens in the community.
Cirrus commented on the situation, suggesting that certain traders might have acted on confidential information to profit from the acquisition news.
Found Nancy Pelosis NFT wallet
80 Moonbirds, 71 Moonbird Mythics, 28 Oddities, and 13 Mythic eggs bought in the last 7 days
Sitting on a couple hundred thousand in profit after the Yuga news
ā Cirrus (@CirrusNFT)
8:38 PM ā¢ Feb 16, 2024

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š ETFs
Record $2.5B Inflows into Crypto Funds as a Result of Spot Bitcoin ETF Interest

Bitcoin ETF
Funds managed by leading asset managers, including BlackRock, Bitwise, Fidelity, Grayscale, ProShares, and 21Shares, experienced unprecedented inflows totaling $2.5 billion globally.
This surge in investment has propelled year-to-date inflows to digital asset products to $5.2 billion.
The influx of capital has elevated assets under management to $67 billion, reaching a peak not seen since the bull market in 2021.
The United States dominated the inflow landscape, accounting for 99% of the total weekly inflows, signaling a growing investor appetite for U.S. spot Bitcoin ETFs.
Interestingly, there was also an uptick in investments into short-bitcoin products, indicating a nuanced market approach.

Via CoinShares
Ethereum led altcoin-based funds, with $21.1 million in inflows, followed by Avalanche, Chainlink, and Polygon.
Conversely, Solana funds faced $1.6 million in outflows, attributed to recent network issues impacting investor confidence.
Additionally, blockchain equity ETF investors opted to secure profits, resulting in $167 million in outflows, reminding everyone of the volatility in the crypto markets.
š¦ REGULATION
OpenAIās Sora Launch Causes Surge in AI Tokens

Open AIās Sora
Artificial Intelligence (AI)-related tokens experienced a notable surge over the weekend, following OpenAI's introduction of Sora, a text-to-video generator.
According to CoinGecko, AI sector tokens increased by an average of 7.7% in the past 24 hours.
Ocean Protocol's OCEAN and Fetch.AI's FET saw increases exceeding 10%, while the broader CoinDesk 20 Index (CD20) rose by 2.68%.
Worldcoin's WLD experienced the most significant growth among AI tokens, with a 30% increase, setting a new record high at $7.
The connection between Worldcoin and OpenAI CEO Sam Altman has led traders to view WLD as a proxy for OpenAI's potential growth.
Ethereum co-founder Vitalik Buterin highlighted AI's potential in auditing smart contracts, which contributed to gains in lesser-known tokens like 0x0 and TokenFiās TOKEN, each climbing as much as 15%.
One application of AI that I am excited about is AI-assisted formal verification of code and bug finding.
Right now ethereum's biggest technical risk probably is bugs in code, and anything that could significantly change the game on that would be amazing.
ā vitalik.eth (@VitalikButerin)
12:10 AM ā¢ Feb 19, 2024
PwC has projected that AI could contribute up to $15.7 trillion to the global economy by 2030, underscoring the potential of AI.
As AI and Web3 continue to evolve, the role of AI tokens and their potential impact remain key areas of interest.
Non-fungible News
Gaming: PIXEL Debuts to $44M Market Cap as Ronin Gamers Get Airdrop Tokens
NFTs: Autoglyphās Set Acquired for $14.6M in Largest NFT Sales Since 2022
Crypto: Coinbase Reports First Quarterly Profit Since Q4 2021
š” INSIGHT
Chromie Squiggle Loans are Due
There's around 200 underwater Chromie Squiggles loans that come due over the next few months
A majority of these were 1 year loans given at 6-7E when the floor was around 10E
The good news is that SquiggleDAO is the biggest lender on these and in the past has used them as aā¦ twitter.com/i/web/status/1ā¦
ā Cirrus (@CirrusNFT)
5:08 PM ā¢ Feb 19, 2024
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