WAIT WHAT? Blink and the week’s gone so quicker than a meme coin pump! Don’t break a sweat—HODL FM has all the action that you might’ve missed neatly packed in the Digest.

Which Cryptocurrencies are the Top Gainers and Losers of the Week?

Which crypto gained the most this week?

• Shiba Inu (SHIB): Shiba Inu topped the crypto charts of the week with a 35% increase in price over the last seven days from $0.00001448 to the press time $00001938.
• SEI (SEI): SEI, the token of high-speed blockchain SEI rose the charts this week with a 30.55% gain which saw it pump from $0.3524 to the current price of $0.4645.
• Wormhole (W): Wormhole, a multichain decentralized blockchain that powers interoperability had its native token W top the weekly gainers with a 30.40% increase in price from $0.2452 to the current $0.3201.

Which crypto lost the most this week?

• Monero (XMR): Privacy coin Monero lost the most this week shedding 9.25% of its value, falling from $178 to the press time price of $161. 
• Kaspa  (KAS): Kaspa was the third biggest loser of the week after registering a 3.15% drop over the last seven days,  falling from $0.1708 to the current price of $0.1649.
• Nervos Network (CKB): Peer-to-peer crypto ecosystem blockchain Nervos Network had its utility cryptocurrency drop by 1.55% over the last week. CKB dropped from $0.01715 to $0.1691.

It was such a green week for the crypto markets that very few cryptocurrencies lost any value compared to their last week’s value. Monero, Kaspa and Nervos Network were the only to suffer losses.

Despite the small percentage loss, the crypto still made it to the worst performing coins of the week, which indicates how good the markets have been in recent days.

Molmo's Open-sourcing AI to Rival Big Tech

Seattle’s very own AI do-gooders, the Allen Institute for AI (Ai2), just dropped Molmo, a snazzy new family of multimodal AI models that’s basically here to challenge proprietary AI businesses among the big tech names like OpenAI.

Molmo has one goal and that’s to show the universe that not  all world-dominating tech has to come with a price tag. 

As the name (multimodal) suggests, Molmo AI will handle different data formats ranging from text, audio, video, images and even sensory data.

In a demonstration of how the AI works, a video showcased Molmo’s capabilities around tackling personalized day-to-day tasks such as making delivery orders and organizing handwritten data.

Even though Molmo has decided to open-source its technology, that doesn’t mean you're getting something low-quality. 

Molmo-7B-O is the most open 7-billion-parameter model out there, while Molmo-7B-D is more of a demo version.  At the high end, Molmo-72B is the most advanced model in the family but might require a premium sticker price.

Early tests show that even the smaller 7-billion-parameter models work just as well as some of the bigger, proprietary models from other companies. This not only makes Molmo accessible to the average developer but is a great pathway to speed up innovation across artificial intelligence. 

South Korean foundation to recover funds from defunct crypto exchanges

South Korean crypt users who’ve lost funds through  defunct exchanges will get asset recovery help  from a new organization called the Digital Asset User Protection Foundation. 

The Financial Services Commission (FSC) for South Korea gave the green light to this project, after reviewing a proposal from the Digital Asset Exchange Joint Consultative Group (DAXA).

The FSC reported that out of 22 cryptocurrency exchanges in South Korea, 10 have shut down, and 3 more have paused operations. This has raised concerns about how users will get their funds back from these non-operational exchanges.

Another worry is the safety of customers' funds, as the private keys to users' crypto wallets are stored with these exchanges.

The Digital Asset User Protection Foundation will work hand in hand with the exchanges to transfer users' funds and virtual assets to a select  bank which will hold users' cash, and one of the still-operating crypto exchanges will handle and manage their virtual assets. 

Once everything is in place, the foundation will reach out to users to guide them through the process of getting their funds back.

Stablecoin Will Draw Institutions to Crypto

Stablecoins are set to boost institutional adoption in Asia, "even if regulators aren't thrilled about it," Chainalysis co-founder and CEO Michael Gronager told a panel during an interview at Token2049 in Singapore. 

While more people in Asia are jumping into crypto compared to other regions, the U.S. still holds the most influence in the industry. Stablecoins, which are crypto tokens tied to real-world assets like the dollar or gold, play a key role in the crypto trading system. 

Since their value is stable (or supposed to be), they can be used both as a store of value and a way to make transactions.

Michael Gronager mentioned that despite their simplicity, stablecoins are one of the biggest trends in crypto currently.  He also noted that stablecoins account for two-thirds of all transaction volume on blockchains.

Gronager stated that last year, one or two banks in Japan had expressed interest in launching a U.S. dollar-backed stablecoin within a year, but it has not materialized yet. He added that after recent discussions in Japan, there are now 10 banks looking to launch such stablecoins.

Memes of the Week

Kamala Harris wants the US to ‘remain dominant’ in blockchain

Presidential hopeful and sitting U.S Vice president Kamala Harris is all about keeping the U.S. on top when it comes to crypto and tech, if her recent speech at Pittsburg is anything to go by. 

She said she wants America to stay a leader in blockchain, AI, and all those other fancy future-tech industries. 

More: Trump To Make U.S World Crypto Capital With Musk On Board

In her Sept. 25 speech at The Economic Club of Pittsburgh, she emphasized, “We’re going to invest in biomanufacturing and aerospace, keep crushing it in AI, quantum computing, blockchain, and other emerging tech, and, of course, we’ll expand our lead in clean energy innovation and manufacturing.

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