Decentralized AI Advocacy at Davos Amidst Ethereum Mega Transfers

By: Eva Baxter

Advocates for the use of blockchain to govern artificial intelligence (AI) made their case at the Davos conference in light of the domination of Big Tech in the sector. Their proposal involves the incorporation of a blockchain layer in the next era of the internet, leading to decentralization of AI. This move proposes a way to counter the looming monopolization of AI by major Tech corporations.

In related news, an Ethereum whale made a significant transfer across various platforms aggregating to about $46.02 million in ETH tokens. The transactions involved initiation of withdrawals from major exchanges, Binance and Bitfinex, followed by engagement with Lido - a prominent liquid staking solution - and Aave, a well recognized Decentralized Finance (DeFi) platform. These actions, especially in the context of Ethereum's current market conditions, have sparked curiosity and speculation.

Over the last 24 hours, Ethereum's price dropped by 7.7% to $2,211, in tandem with a bearish trend across the entire crypto market. The Ethereum market dip has triggered liquidations for some traders. Meanwhile, Celsius, a crypto lending firm currently navigating financial challenges, has reportedly been moving large sums of Ethereum in between, further stirring up the market activities.

Given these developments, all eyes remain on the evolving dynamics of the blockchain and crypto markets, specifically the efforts towards decentralizing AI and the notable whirlwind created in the Ethereum market by large-scale transfers.