TLDR: BTC & ETH is up. Bitcoin dominance is growing. The hot coin we look at this week is JKL.

Latest & Greatest 📰

Before we dive into both current and new airdrops, make sure to check the latest and greatest news across crypto:

BTC & ETH Market Update 📈

Crypto is down this week, with BTC being up 9.5% and ETH up 6.4%:

Bitcoin dominance has been growing over the week, starting at around 49.3%, topping at 50.3% and ending the week around 49.9%. Capital often starts to flow into ETH and other altcoins as the price is increasing for more risk-on assets as well, causing a lower Bitcoin dominance as we have started to see over the course of multiple weeks.

It’s going to be interesting to see whether this trend will continue in the short term, as capital in crypto tends to flow initially to BTC and then further out on the risk-curve, starting with altcoins like ETH and then into mid- or low-cap coins.

The Bitcoin halving is coming up in April 2024. If history is any guidance we will continue to see BTC dominance climb up until after Bitcoin halving, whereafter people start to look for higher return moving further on the risk curve entering altcoins. This typically starts with ETH, and then on to mid- and low cap coins. Other coins being moved into are typically “ETH killers” like SOL, AVAX and other other L1s. Yet ETH is still the king amongst altcoins, as price action this week also shows.

With BTC dominance increasing and the ETH price increasing less than BTC, the BTC/ETH ratio is trending upwards to 19.83 ETH per BTC, underlining that BTC continues to be king in crypto, but alts like ETH are gaining momentum.

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Hot Coin: JKL 🔥

In this week’s newsletter we dive into Jackal Protocol’s token with the ticker: $JKL.

The price action and volume is has been growing consistently, and doesn’t seem to stop any time soon:

What is the project about?

There are many decentralized file storage protocols on Ethereum, but Jackal is the only one available on the Cosmos ecosystem, with all the benefits coming from using the Cosmos tech stack.

DeStorage is a critical piece of puzzle to Decentralized AI (DeAI), and as new AI application are released, we believe this narrative will be growing faster than many other segment of the market. Important criteria would be fast access and transfer speed of large amount of data, which often get categorized as Hot storage. Filecoin, and AWS Glacier would qualify more as Cold storage to store data long term but with slower transfer speed.

Jackal cost of storage is currently $8/month for 1T, so unfortunately that's pretty high compared to Filecoin, but that's for Hot storage instead of Cold storage. Compared to other hot storage solution on AWS that cost about $35 per month per 1T.

As well, when it comes to AI, model reproducibility and versioning is ideal in order to be able to compare. Jackal's bucket storage makes this possible.

Currently it has a $32M marketcap in circulation with a fully diluted market cap of $62M. This is the first bull cycle for Jackal, and Filecoin was able to reach $462B FDV at the peak of it's first bull run in 2021 and $115B in circulation, so Jackal as plenty of room to grow and is better aligned with the AI narrative.

Why is the project exciting now?

There are three main reasons why we feature this project in this week’s newsletter:

• Addressable market

• Better resource utilisation

• Better tech

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