Welcome to The Daily Crypto Briefing, here are today's headlines! The cryptocurrency market has been bustling with activity as we head into the new week. Today, we're covering the surprising surge in Ghibli-themed memecoins following OpenAI's latest innovation, Bitcoin's price movement amid economic data releases, Ethereum's network upgrades, regulatory developments from Asia, and venture capital trends in the blockchain space. First up, Ghibli-themed memecoins are experiencing a remarkable rally after OpenAI's new image generation tool went viral for its ability to create Studio Ghibli-style artwork. The AI tool caught significant attention when tech luminaries Elon Musk and Sam Altman shared examples of its output on social media. This newfound attention has sparked investor interest in tokens that reference the beloved Japanese animation studio. Coins like TOTORO, SPIRITED, and GHIBLI have seen price increases ranging from 30% to 150% in just 24 hours, with trading volumes spiking across decentralized exchanges. This phenomenon highlights how quickly the memecoin market can respond to cultural trends and technological developments. However, analysts warn that such rapid price movements often indicate high volatility, and investors should approach these tokens with caution despite the current enthusiasm. Moving to mainstream cryptocurrencies, Bitcoin has been testing support levels around $67,000 as traders digest recent economic indicators. The release of employment data and inflation numbers has created a mixed sentiment in the market, with some investors taking profits while others see the current range as an opportunity to accumulate. Technical analysts point to the 50-day moving average as a crucial support level to watch in the coming days. Meanwhile, institutional interest continues to grow, with another Bitcoin ETF reporting substantial inflows last week, suggesting that long-term confidence remains strong despite short-term price fluctuations. On the Ethereum front, developers have announced progress on the upcoming network upgrade scheduled for Q3. This improvement aims to address transaction fees and further enhance scalability following last year's successful transition to proof-of-stake. The upgrade, codenamed "Surge," is expected to implement proto-danksharding, which could significantly increase the network's capacity to process transactions. ETH has shown resilience in its price action, maintaining above $3,200 despite broader market uncertainty, as investors appear optimistic about these technical improvements. In regulatory news, Singapore's monetary authority has released new guidelines for cryptocurrency businesses operating in the city-state. The framework clarifies compliance requirements while establishing a more accommodating environment for innovation compared to some neighboring jurisdictions. This development comes as Japan is also reviewing its crypto regulatory approach, potentially signaling a more coordinated regulatory stance in Asia. Industry participants have welcomed these moves as steps toward greater clarity and legitimacy for digital asset markets in the region. Lastly, venture capital investments in blockchain startups are showing signs of recovery after a challenging 2023. Q1 data indicates a 15% increase in funding compared to the previous quarter, with infrastructure and DeFi projects receiving the largest allocations. Several notable deals have been announced in the past week, including a $45 million Series B round for a cross-chain liquidity protocol. This renewed investor interest suggests growing confidence in the sector's long-term potential despite the challenges of the past year. As we wrap up today's briefing, it's clear that both technological innovation and regulatory developments continue to shape the cryptocurrency landscape. From the surprising impact of AI-generated art on memecoins to substantive progress in blockchain infrastructure, the ecosystem remains dynam