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Coinspeaker
Coinspeaker
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Coinspeaker Analysis of Litecoin (LTC) Dull Performance in Booming Crypto Market Litecoin (LTC), initially introduced as an alternative to Bitcoin, has experienced a slowdown in its adoption rate. Previously ranked among the top 10 cryptocurrencies worldwide, it has now fallen to the 20th position, according to CoinMarketCap. Additionally, its token performance since the beginning of the year has been concerning. While the majority of cryptocurrencies have recorded double-digit gains on a year-to-date basis, Litecoin has seen a loss of 6.23%. In terms of recent price movements, LTC has decreased by 2.67% on a weekly basis. Despite Bitcoin surpassing the significant $50K psychological threshold, Litecoin has not shown any notable signs of bullish momentum, even though it has historically had a strong correlation with BTC. Litecoin (LTC) Short-Term Price Analysis Examining Litecoin’s (LTC) price movements this month reveals that it has fluctuated within a specific range of $65-$75. The chart’s overall appearance suggests that LTC is currently at a crucial juncture, with the 0.786 Fibonacci level acting as a vital support line. A break below this level could lead to increased selling pressure for the cryptocurrency. This assumption is supported by technical indicators. The EMA-20 has experienced a negative crossover against both the EMA-50 and EMA-100, and appears vulnerable to the EMA-200 as well, potentially placing LTC in a pronounced bearish trend. The Relative Strength Index (RSI) standing at 32.35, has managed to avoid dipping into the oversold territory several times this month. However, a move into the oversold area could lead to further price corrections while simultaneously possibly marking the beginning of a new buying momentum with the anticipation of buying the asset at a relatively lower price. Litecoin (LTC) Long-Term Price Analysis The long-term price chart for Litecoin (LTC) shows that from the latter part of 2023, it has established a solid consolidation range between $60 and $80. Notably, the price has failed to break above this range, indicating that the token has experienced both profit-taking and price averaging from its investors. A concerning indicator is the narrowing of the Bollinger Bands, which last expanded in July 2023, suggesting a declining interest from investors in terms of volume. Additionally, since August 2023, the EMA-200 has consistently been above the price level, indicating that LTC has not aligned with the bullish momentum observed in the overall market conditions. In summary, for Litecoin (LTC) to enter a new price territory and avoid further declines, it must surpass the $80 price level. next Analysis of Litecoin (LTC) Dull Performance in Booming Crypto Market

4 days ago
Ui-Chain 超媒
Ui-Chain 超媒
followers

The S&P 500 Index rose 1.65% to 5064.12 points after opening on Thursday (February 22), setting a record high; the market was encouraged by the excellent performance of chip giant Nvidia. Nvidia shares soared more than 15% to a record high of $778.98. Currently, the Nasdaq is up more than 2.3%, the Dow Jones is up 0.70%, and the S&P 500 is up 1.6%. Due to strong sales of artificial intelligence chips, Nvidia's fourth-quarter revenue surged 265% year-on-year to US$22.1 billion, and net profit surged 769% year-on-year to US$12.29 billion. #strk #BTC $BTC

3 days ago
Coinstages
Coinstages
followers

XRP has garnered significant attention in recent months. Following the recent crypto market resurgence caused by Bitcoin’s recent surge, many traders hold onto the hope that XRP will finally reclaim its past glories. However, despite these positive indicators, XRP has underperformed, falling 3.68% over the past 24 hours to $0.542. While the broader crypto market witnessed a surge, XRP is lagging. In 2024 alone, the digital token has even dipped by almost 14%. Many investors are still bullish despite the appalling performance, with one Bitcoin investor recently picking up $500,000 worth of XRP. Faced with this mixed bag of signals, We sought insights from PricePredictions, a platform utilizing AI-driven machine learning algorithms to forecast cryptocurrency prices. The analysis focused on XRP’s potential performance over the next 10 days. AI Hints at Short-Term Climb According to PricePredictions’ algorithms, XRP might finally inch upward in the coming days. The prediction model suggests an increase to $0.553549 by March 1, 2024. Furthermore, the AI anticipates this uptrend to continue into mid-March, with XRP potentially reaching $0.570682, representing a 5.29% increase within 30 days from its current price. However, a closer look at technical indicators based on XRP’s recent performance paints a contrasting picture. The token’s short-term outlook leans towards selling. It should be noted that Oscillators and moving averages predominantly signal a sell recommendation, particularly based on the last 24 hours of trading. This discrepancy between AI predictions and technical indicators underlines the uncertainties associated with cryptocurrency price movements. While AI algorithms analyze vast amounts of historical data and market trends, they cannot account for unforeseen events or sudden shifts in investor sentiment, both of which can significantly impact prices. Other factors could also impact XRP in the short term. The most significant of these is the ongoing legal battle between Ripple and the SEC. This lawsuit has hampered XRP’s price and adoption in the U.S. since it began in December 2020, and unforeseen outcomes could significantly affect XRP. Beyond the legal battle, broader market forces also play a crucial role. The overall health of the cryptocurrency market, particularly Bitcoin’s performance, can significantly impact XRP’s price movement. Ultimately, predicting XRP’s long-term price trajectory remains a challenging endeavor. However, a Ripple executive has revealed that the company prioritizes utility and adoption over short-term price movements, showing that the company has bigger plans for the digital asset. ⚠️Disclaimer This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader. #xrpbullish

3 days ago
chole
chole
followers

Let’s talk about SOL: I originally thought it would fall below 100 dollars today, so I decided to start adding to my position in SOL. Unfortunately, it has not fallen below yet. It seems that I will continue to manage my finances and wait for opportunities to re-enter. I still have no chance to buy another SOL under 100. The SOL ecological adjustment has almost been completed, and there are no new benefits. I think it has basically fallen to the point. It is also possible that the market will bottom out, and it may be below 100. This high probability depends on the performance of BTC. Do you think the $100 SOL will be like a leek, or a new starting point? Anyway, most of the people around me are very fond of SOL prices in Thailand. There is no reason why I prefer SOL. Maybe buying SOL is my destiny. What do you think?

3 days ago
Crypto News
Crypto News
Study Suggests Emoji Sentiment Correlates with Crypto Market Performance
5 days ago
TraderM
TraderM
followers

In fact, there is no need to look at the fundamentals of a copycat that is not a big pie. Give me a chestnut. For example, if you want to watch, you need to be careful that wld is overvalued - wld's recent gains come from sora's release - sora is a product of openai - wld has nothing to do with openai - Sam Altman is the cofounder of wld. He is not the actual operator. He may only be an investor or an honorary founder. It's side-hustle. It can probably be understood that Bill Gates opened a ramen restaurant when he was CEO of Microsoft. The cash register computer of a ramen restaurant may not even use Windows. After the release of win10, everyone thought that Microsoft was very powerful, so they all wanted to join Bill Gates' ramen restaurant to open a chain store? WLD is currently a poverty alleviation coin that gives free money to people in the non-crypto market in exchange for biometric information. On the contrary, the projects of FET and AGIX are still of some practical use, but with the existence of OpenAI and Google, they only run on the blockchain, and technological innovation needs to be questioned. So wld is actually a fan coin wrapped in an AI shell, and the project itself has no way to make money. The identity verification system will not be of much use in the short term. The possibility of success in charging based on real person digital IDs in the future is also questionable. As a digital ID card, it does not even need AI to operate. It may run an AI model iris duplication check in its orb ball, but in fact, it can also be used with an ordinary database, but the difference is in speed. It is not convincing to have users exceed 1 million, because it is currently the same as the "receive red envelopes based on the steps you walk" app on the mobile phones of uncles and aunts in China. The cost of this performance (manpower, store opening, public relations) was initially paid by investors, and has been paid for by the appreciation of wld currency ever since. Therefore, if you want to investigate the profitability of the project, many coins cannot be looked at. Because most projects are a story, some activities, and some road shows, profits come from token transactions. This post is just to remind everyone to try to use these altcoins as foreign exchange. And we make breakthroughs, patterns, and short-term price actions to make profits. Except for news about real money, consider it all as speculation. You don't even need to watch the news. Because the future trend is almost always hidden in the candle chart. Don't expect to analyze cryptocurrencies the same way you analyze stocks. You can use market supply and demand logic analysis, such as halving, unlocking, selling, new investment, user volume, tvl.But if you use a comprehensive fundamental analysis, you will find that in addition to gold-like things like Big Pie, there are also platform coins like Erpie and Sol. Others are meme coins.

3 days ago
看不懂的sol
看不懂的sol
followers

A few days ago, someone called SOL to go to 500 dollars, and now they are calling SOL to go to 20 dollars. I started playing at $13 and saw a peak of $260, a bottom of $10, and another climb to over $120. This process, although controversial, is also full of unlimited opportunities. My preference for SOL stems from my dissatisfaction with the complex development model of Ethereum. Just as repairing an old website is far less efficient than building a brand new one, SOL's chain technology, although it is still in the testing stage, its ability to rise repeatedly from the trough shows its extraordinary vitality. Avoid chasing coins that are already in the spotlight. I know that victory does not lie in the momentary peak, but in rising again from the trough. I have firm faith in SOL's future bull market performance.

3 days ago
Bitcoinworld
Bitcoinworld
followers

To become a successful investor, you must evaluate the performance of cryptocurrencies before investing in them. This article will look into three leading crypto assets – Cardano (ADA), The Graph (GRT), and Algotech (ALGT). While ADA and GRT are long-standing cryptos, ALGT is a newly launched project. However, the growth rate of Algotech (ALGT) has stolen all the limelight. Its ongoing presale has attracted a large number of small and big investors.   Cardano (ADA) Reaches New NFT Milestone Cardano (ADA) has grown significantly in the non-fungible tokens (NFTs) space. As per the data from CryptoSlam, the NFT sales on the Cardano (ADA) network have increased by 100% in the past week. The data showed that Cardano’s (ADA) NFT sales volume was more than $1.6 million. The total value locked (TVL) of Cardano (ADA) has also surpassed $400 million. Therefore, Cardano’s (ADA) rank, by TVL, has jumped from 34th to 13th. Thus, the price of Cardano (ADA) has moved northward. On the monthly price chart, Cardano (ADA) is up by 18%. Consequently, the current trading price of Cardano (ADA) is $0.58.   The Graph (GRT) Surges After Quarterly Report The last week brought a staggering 46% increase in the price of The Graph (GRT). Consequently, the trading price of The Graph (GRT) currently stands at $0.27. The Graph (GRT) has witnessed this rise after its recently published Q4 2023 report. The Graph’s latest report shows several new updates in the GRT ecosystem. As per data, The Graph (GRT) has recorded a 65% QoQ rise in transaction volume. Besides, The Graph (GRT) has also made efforts to simplify billing and payments to enable a Free Query Plan for free monthly queries. Moreover, to streamline the creation of technical plans and grant proposals, The Graph (GRT) has launched the Technical Advisory Board.   Algotech (ALGT) Presale Strikes Big The practice of algorithmic trading is dominating global trade. A report’s findings have suggested that the market size of automated algo trading can grow at a CAGR of 10.6% by 2032. Thus, a new blockchain project, Algotech (ALGT), has launched a novel trading platform. This algo-based trading platform will come with smart technologies like machine learning and artificial intelligence. Thus, Algotech (ALGT) aims to analyze a multitude of data to identify the perfect investment options for traders. It will list multiple trading pairs as well, by partnering with leading cryptocurrency exchanges. Algotech (ALGT) also provides arbitrage services. This enables its users to benefit from the price differences between diverse crypto exchanges. Moreover, users can copy the successful trade strategies of professional and expert traders. Thus, Algotech (ALGT) also promotes social trading. Due to these growth opportunities, investors are rallying behind the presale of Algotech. ALGT will be the native token of the platform. Notably, the presale Algotech (ALGT) token owners can win multiple giveaways. The platform will give gifts like Apple Watches, iPads, VIP tickets to a blockchain event in Dubai, and many more. The token owners will also get governance rights on the platform. The ALGT presale has already recorded a sale of over 15 million tokens within days of its launch. Moreover, it has secured more than $612,000. At press time, you can lock an ALGT token for just $0.04. Meanwhile, experts have predicted that Algotech’s (ALGT) value can go up by 275% to reach $0.15 before the end of the presale phase. Learn more: Visit Algotech Presale Join The Algotech Community The post Cardano (ADA), The Graph (GRT) Network Upgrade; Algotech (ALGT) Presale Is The Best Crypto In 2024 appeared first on BitcoinWorld.

3 days ago
Coinstages
Coinstages
followers

Cardano achieves its highest weekly close since May 2021, signaling potential long-term bullish cycle.Despite bullish indicators, caution advised due to bearish divergence on weekly RSI. Cardano (ADA) has been on a notable upward trajectory since September 2023, capturing the attention of cryptocurrency investors and analysts alike. The culmination of this rise was marked by a significant milestone in December when ADA reached a new yearly high of $0.68. This rally was not just a short-term surge but a movement that positioned ADA for its highest weekly close since May 2021, signaling a potential long-term bullish cycle for the digital currency. Despite the optimistic trend, ADA faced challenges in surpassing the $0.58 horizontal resistance area. The presence of six consecutive long upper wicks indicated substantial selling pressure at this level, casting doubts on the sustainability of the upward movement. However, ADA’s resilience was evident as it eventually secured a weekly close above this critical resistance area, setting a new benchmark for its performance since May 2022. The Bearish and Bullish Indicators: A Tale of Two Timeframes The weekly Relative Strength Index (RSI), a momentum indicator crucial for evaluating market conditions, presents a contrasting view. Despite ADA’s price achievements, the RSI has exhibited bearish divergence, often a precursor to potential downward movements. This divergence suggests that caution is warranted, even in the face of recent price gains. Conversely, the daily timeframe paints a more bullish picture, buoyed by positive price action, wave count, and RSI readings. ADA’s ability to break out from a descending resistance trend line and reclaim the $0.58 resistance area is a testament to its growing strength. An RSI movement above 50 further legitimizes the bullish sentiment surrounding ADA’s market behavior. To explore more thoroughly the bullish potential for Cardano, you can watch this YouTube video. Community Sentiment and Market Predictions The cryptocurrency community’s response to ADA’s performance has been overwhelmingly positive. Zach Humphries’s decision to accumulate ADA over several years, along with a poll by WhaleFUD suggesting that 48% of respondents believe ADA could surpass Ethereum in market capitalization, underscores the optimistic outlook for Cardano. Furthermore, Cardano’s founder, Charles Hoskinson, engaged with the community through a surprise AMA, fueling excitement and speculation about ADA’s future. Technical analysis, supported by the Elliott Wave theory, indicates that ADA is in the fifth and final wave of its upward movement. This analysis suggests a potential top of the increase at $0.83, representing a 40% gain from the current price level. However, investors are cautioned that a close below $0.58 could trigger a significant drop to the $0.50 support level, highlighting the volatile nature of the cryptocurrency market. At the time of writing, the price of ADA had fallen 0.64% in the last 24 hours, fell to price of $0.5959. But, this represents an increase of 3.33% over the past 7 days. ⚠️Disclaimer This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader. #cardano #ADA

3 days ago
CryptoMaestroking
CryptoMaestroking
followers

🚨🚨Why are Dogecoin, Shiba Inu and Mem tokens not increasing? Analysts announced!🔥🔥 After refusing by Elon Musk, he does not give the Owen SHIB coin These meme pieces are going to die again, let me shed some light on these pieces While the largest cryptocurrencies, Bitcoin and Ethereum, attracted investors' attention with their performance, memcoins such as Dogecoin (DOGE) and Shiba Inu (SHIB) were unable to show the expected performance. Assessing this situation at this point, Nansen analysts claimed that memecoins had underperformed because investors focused on market leaders Bitcoin and Ethereum. Speaking to The Block, Nansen analysts said it underperformed against rising BTC, ETH, and altcoins during the same period. Memecoins are currently extremely illiquid and volatile, with investor interest focused on BTC and ETH. “Aside from Memcoins, much of the cryptocurrency market is still struggling with low liquidity. Click the Follow button, dear readers If you are generous enough to tip for this item it would be appreciated, thank you 🙏🏻 and much gratitude in advance 🫶 #Elonmusk #Write2Earn #Shibainu #TrendingTopic

3 days ago
HARAR THE LIVING MUSEUM
HARAR THE LIVING MUSEUM
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Asallamu Aleykum All Muslim Brother and sister Happy Juma JUMA MUBAREK FOR ALL MUSLIM HOW TO MAKE 100$ DAILY FROM BINANCE????📢🎉🤔⁉️ ATTENTION 📢 here's a breakdown of a potential strategy to aim for making $100 a day through crypto trading on Binance: 📢THE STRATEGY: 1. Research and Identify Volatile Pairs: Focus on trading pairs that frequently experience daily fluctuations of 10-20%. 2. Daily Investment: Consider investing an amount you're comfortable with. For example, let's say you invest $1000 in a chosen pair. 3. Track Daily Movement: If your selected pair rises by 10%, that would mean a $100 gain for that day. 4. Repeat the Process: The goal is to aim for this 10% gain consistently across different trading days. 5. Rinse and Repeat: By repeating this strategy daily, the aim is to consistently achieve $100 profits per day. However, it's important to note a few things: Market Volatility: Cryptocurrency markets are highly volatile and unpredictable. Even though some pairs might have shown trends, there's no guarantee they will perform similarly in the future. Risk Management: Trading involves risks. It's crucial to only invest what you can afford to lose and consider setting stop-loss orders to limit potential losses. Research and Education: Continuously educate yourself about the market trends, news, and technical analysis to make informed decisions. No Guarantees: There's no foolproof strategy in trading. Always be cautious, and don't invest solely based on past performance. This strategy seems straightforward, but it requires diligence, patience, and a thorough understanding of the market. Additionally, it's important to diversify and not put all your funds into a single pair to manage risk. Remember, success in trading cryptocurrencies comes with significant risks, and it's crucial to approach it with careful consideration and a risk management strategy in place. Your tip helps to use better tools to make better research and find the best and safest investments for all ecosystems. Share some love in the Tip button 👇

3 days ago
Damian Nappo U1N7
Damian Nappo U1N7
followers

 Damian nappo 2:14 PM・Feb 23, 2024 Bullish Follow $SPELL Latest update🟤 🟡Abracadabra (SPELL) Price Analysis: 🔵Current Price: $0.00063 Market Cap: $63.15 million Recent Performance: 🏟strongly bullis 🟢Price Predictions:🟤 Several prediction websites offer varying forecasts for SPELL, ranging from $0.0005 to $0.001 by the end of 2024. These predictions should be taken with a grain of salt, as the cryptocurrency market is highly unpredictable. 🚨Down 5.22% in the last 24 hours 🚨Up 0.79% in the last 7 days 🚨Down 26.50% in the last year Down 92.93% from its all-time high of $0.0088 🛑Technical Analysis: The 14-day RSI is at 64.03, indicating potential overbought territory. The 50-day and 200-day SMA are both around $0.0005, suggesting possible resistance levels. Short-term technical indicators are mixed, with some suggesting a pullback and others hinting at continued upward movement. 🛑Fundamental Analysis: Abracadabra is a unique DeFi protocol with innovative features like leveraged yield farming and flexible collateral options. The MIM stablecoin has proven relatively stable despite market volatility. The recent security breach might have dampened investor confidence. The overall DeFi market sentiment is still recovering from the 2022 crash. 🟢Overall: SPELL has experienced significant volatility in recent months. While the project has promising fundamentals, short-term price movements are uncertain. Careful research and consideration of your risk tolerance is crucial before investing in SPELL. $SOL $SOL

3 days ago
Crypto Breaking
Crypto Breaking
followers

Like many other crypto projects, the native token of the Polygon network, MATIC, was launched with some portion of the supply vested for the team over a period of time. In the case of Polygon, the vesting was for five years, and since 2019, there have been periodic token unlocks. However, the unlocks, which have often been a deterrent for investors, are now over, as the last batch was just released to the team. Polygon Last Unlock Goes To Team On Wednesday, February 21, the Polygon Foundation received the very last portion of their vested tokens from the vesting contract. In total, 273,304,816 million MATIC tokens valued at $260 million were released to the Foundation’s wallet. This unlock marks the very last unlock that the Foundation will receive, meaning that almost all of the available supply of MATIC is now in circulation. The latest unclog brings the circulating supply of the cryptocurrency to 9,618,318,574 out of its 10,000,000,000 maximum supply. As a result of this, the market cap of Polygon is sitting just above $9.14 billion with a fully diluted valuation (FDV) of approximately $5 billion. The entirety of the MATIC supply has been unlocked, which means that there will be no more tokens being brought into circulation. This is a huge milestone for the project, whose investors have waited years for the vested tokens to finally run out. Polygon trending below $1 | Source: MATICUSDT on Tradingview.com How Will This Affect The MATIC Price? The fact that the entirety of the MATIC supply is now in circulation is bullish for the digital asset, especially in the long term. Inflation is a factor that tends to drive investors away and keep them from holding their coins due to the fear of more tokens coming into circulation, causing supply to exceed demand. Now that the entirety of the supply is now in circulation, it gives the MATIC price a chance to enter into price discovery. However, there is still some concern about when the Polygon Foundation might start selling their coins as the entirety of the unlocked tokens still sit in the Foundation’s wallet. If they do decide to sell, though, it is likely that the foundation would do so through OTC (over-the-counter) deals to minimize the impact of such a sale on the token price. As a result, the MATIC price might not suffer much. At the time of writing, the MATIC token is trading at $0.95 with a 24-hour increase of 1.11%. Although its performance has been far from encouraging, the token is sitting only 67% below its 2021 all-time high of $2.92. Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk. Source: NewsBTC.com The post The Polygon Vesting Contract Is Officially Empty, Will This Send MATIC Price To $3? appeared first on Crypto Breaking News.

3 days ago
Anilsingta
Anilsingta
followers

🚨🚨Why Are Dogecoin, Shiba Inu and Mem Tokens Not Rising? Analysts Announced!🔥🔥 After denied by Elon musk he does not Owen SHIB coin These memes coins going to die further let me put some light on these coins While the largest cryptocurrencies, Bitcoin and Ethereum, attracted the attention of investors with their performances, memcoins such as Dogecoin (DOGE) and Shiba Inu (SHIB) could not exhibit the expected performance. Evaluating this situation at this point, Nansen analysts claimed that memecoins underperformed because investors focused on market leaders Bitcoin and Ethereum. Speaking to The Block, Nansen analysts stated that it underperformed compared to BTC, ETH and rising altcoins in the same period. Memecoins are currently extremely illiquid and volatile, with investor interest focused on BTC and ETH. “Aside from Memcoins, much of the cryptocurrency market is still struggling with poor liquidity. Hit follow boton lovely readers If you generous enough to Tip for this article would be appreciated thanks 🙏🏻 and big gratitude in advance 🫶 #Elonmusk #Write2Earn #Shibainu #TrendingTopic

3 days ago
Van00sa
Van00sa
followers

🚨🚨🚨 Urgent Update Alert 🚨🚨🚨 Concerned about STRK's recent performance? Is it a questionable investment? The short answer is no. Here is what happened: Upon launch, $STRK price soared to $7 followed by a heavy dump to $1.7, now hovering slightly above. During this period, $BTC also plummeted from $53k to $50,625. Given Bitcoin's dominant 53% share in the crypto market, $STRK mirrored its downward movement, triggering panic selling and driving prices lower. A rebound is expected. You can expect to see the price increase as alt coins start to rally again. It's ripe for both futures and spot trading. Given the low price, now would be a good time to consider spot buying if this is a coin you have considered to add. $STRK 's downturn was a stroke of bad luck, which can be seen as an opportunity for new buyers. Given current market conditions, we should expect to see a new rally in the coming days. Buy STARK - Vanessa Sierra

3 days ago
Cryptopolitan
Cryptopolitan
followers

The artificial intelligence (AI) market experienced a significant surge in crypto tokens and traditional stocks, buoyed by Nvidia’s impressive earnings report and a broader market correction. This surge, evident over the past month, saw several AI-based tokens and stocks record substantial gains despite market volatility. AI tokens rally AI-based crypto tokens witnessed notable gains on February 21st, with popular tokens such as Render (RNDR), The Graph (GRT), Fetch.ai (FET), and SingularityNet (AGIX) posting double-digit increases.  Notably, Render surged over 17% in 24 hours, while The Graph saw an 18% increase. This positive momentum follows a period where the market cap of AI tokens more than doubled within a month, reaching $17.8 billion. Nvidia’s influence The surge in AI tokens can be attributed to Nvidia’s exceptional fourth-quarter earnings report, surpassing market expectations. With revenues totaling $22.1 billion, Nvidia exceeded Wall Street’s projected $20.4 billion, driven significantly by a fivefold increase in AI data center revenue in January compared to the previous year.  Nvidia CEO Jensen Huang credited this success to the heightened global demand for generative AI, solidifying Nvidia’s position with a market capitalization of $1.67 trillion, surpassing Tesla as the world’s most traded stock. The positive performance of Nvidia’s AI businesses reverberated across the AI crypto market, leading to new highs for several AI-focused stocks. Taiwan Semiconductor Manufacturing Company (TSMC), a key supplier for Nvidia, experienced a 2.05% surge in morning trading on February 21st.  Similarly, Super Micro Computer, a server component supplier, witnessed an 11.42% increase in after-hours trading on February 20th. Dutch chip equipment manufacturer ASML also rose by 2.7% in after-hours trading. OpenAI’s contribution The bullish sentiment towards AI tokens was further bolstered by OpenAI’s recent announcement of its text-to-video tool, Sora, on February 15th. This development catalyzed the highest weekly trade volume for AI tokens in a year, underscoring the growing interest and confidence in AI-related technologies.

3 days ago
Cryptopolitan
Cryptopolitan
followers

Binance Coin (BNB), the native token of the Binance cryptocurrency exchange, has experienced a remarkable surge of over 7% within the past 24 hours. This surge in price comes in the wake of an announcement made by Binance regarding the burning of significant amounts of BUSD and TUSD B-tokens, with corresponding releases of tokens used as collateral on their respective native networks. Binance Burn Announcement Sparks BNB,  Market Movement The sudden increase in the price of BNB, which is intricately tied to the performance of the Binance platform, has caught the attention of investors and analysts alike. This surge, exceeding 7%, stands out amidst the broader cryptocurrency market, with BNB outperforming the top 10 cryptocurrencies by rising approximately 10% over the past week. Speculation Surrounds BNB’s Price Surge While the rise in BNB price correlates with Binance’s burn announcement, it’s notable that this particular burn did not involve BNB tokens. This has led to speculation within the cryptocurrency community regarding the factors driving the recent surge in BNB prices. Today, #Binance will burn a significant number of $BUSD and $TUSD B-tokens.The equivalent amount of tokens used as collateral on their native networks will then be released. — Binance (@binance) February 22, 2024 Despite the absence of direct involvement of BNB tokens in the burn, the announcement appears to have positively influenced investor sentiment towards the Binance ecosystem. BNB’s bullish momentum and market position BNB’s recent price surge builds upon a trend that commenced, following the formation of a bullish golden cross on its charts. This bullish pattern, where the short-term moving average (50-day) crosses over the long-term moving average (200-day), signaled a positive uptrend for BNB. Subsequently, the token has experienced steady growth, punctuated by periods of consolidation, and most recently, a breakout above the $338 mark in mid-February. Current status and market capitalization BNB has surged by 4.63% within the past 24 hours, reaching a value of $381. This recent price movement has propelled BNB’s market capitalization to $57.11 billion, solidifying its position as the fourth-largest cryptocurrency by market capitalization. Notably, BNB has witnessed a year-to-date increase of 24%, reflecting strong investor confidence and market demand for the token.

3 days ago
Coinpedia
Coinpedia
followers

The post Top Reasons Why AI-Based Altcoins Are Best Bet For 2024 – Here’s Why! appeared first on Coinpedia Fintech News The Artificial Intelligence tokens have displayed a significant uptrend this week, indicating a massive bullish sentiment for these tokens in the crypto industry. Further, eight tokens have secured a spot in the top ten gainers of the day, highlighting a positive price action for this category in the coming time. Despite a mixed sentiment in the crypto space, with top tokens recording constant fluctuations in their respective portfolios, the AI tokens have gained significant attention from the market with impressive short-term returns.  Investors are curious to dig out the prime reason “why are AI tokens pumping?” AI Tokens Surge Post News Of Sora! The category gained significant price action after the news of OpenAI released a new technology called Sora, which allows users to create hyper-realistic videos from text-based prompts. The samples which were released by the company, showed the limitless potential this application possesses in them. This new application has caused massive excitement among users, resulting in AI-based tokens experiencing significant inflow. Category Performance In The Upcoming Weeks! The top tokens from this category have added massive gains over the past week, with some tokens multiplying their valuation. The AI tokens are predicted to record a significant uptrend in the upcoming months, with major tokens possibly recording a new high. Tokens such as Fetch.ai, The Graph, and SingularityNET have added 68.32%, 58%, and 118.57% over the past week, making them the top potential tokens for the upcoming market rally. Conclusion: Overall, this category has displayed a significant price action over the past few weeks, indicating a massive inflow from investors. Further, the investors are concerned about the future price action of these tokens resulting in creating a FOMO-like situation in the market. NOTE: Investing in cryptocurrencies is highly risky as the market is highly volatile. Make sure to do your own research before investing in any digital asset and preferably keep a stop loss to minimize your losses during the times of a market dump.

3 days ago
Coinspeaker
Coinspeaker
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Coinspeaker Cardano’s DeFi Powerhouse Unveiled, ADA Price Is Down Indigo, the flagship decentralized application (DApp) on the Cardano blockchain, has teased its community with details of an imminent upgrade, dubbed “Indigo v2”. A New Era for Synthetic Assets on Cardano Indigo, at its core, is an autonomous synthetics protocol that allows users to gain on-chain exposure to real-world assets through the creation of synthetic assets, known as iAssets. These iAssets replicate the price movements of various tangible assets, enabling investors to capitalize on market fluctuations without the need to hold the underlying assets directly. The forthcoming v2 upgrade, highlighted through a sneak peek video, introduced the iAsset Redemption Margin Ratio (RMR), a novel feature designed to augment the protocol’s capabilities significantly. Cardano’s Decentralization and Market Performance Cardano’s ecosystem, bolstered by significant projects like Indigo, continues to exhibit remarkable growth and resilience. A recent metric from DefiLlama revealed a notable tick in the Total Valued Locked (TVL) on the Cardano network, reaching an impressive $391 million. Furthermore, its blockchain hosts 29 DeFi applications, while Indigo and Minswap drive the majority of its TVL. Furthermore, Cardano’s achievement of a significant decentralization milestone, being ranked as the second-most decentralized asset in the crypto industry, only behind Ethereum, marks a pivotal moment in its journey towards establishing a truly decentralized financial landscape. Renowned crypto researcher Justin Bonks gives this position through his decentralization index of cryptocurrencies. Cardano (ADA) Price Analysis Considering the recent price trends of Cardano (ADA), it formed a rising channel pattern this month. It managed to maintain bullish momentum for a significant time. However, in the last few days, it experienced a downturn, breaking out from the pattern and establishing a new support level of around $0.55. Despite this, ADA’s monthly returns stand at approximately 20%, though its year-to-date gains are modest, at just 0.20%. Technical indicators paint a bearish picture. This week, the Moving Average Convergence Divergence (MACD) saw a bearish crossover, accompanied by the emergence of red bars on its histogram, indicating increased selling pressure as levels dropped below the histogram. Similarly, the Directional Movement Index (DMI) reinforces this outlook, with the negative direction indicator (-DI) reflecting a rise to 23.64, significantly higher than the positive direction indicator (+DI) at 16.59, suggesting a dominance of selling volume. From a broader perspective, to enhance the adoption of its blockchain network, Cardano needs to introduce more protocols like Indigo. On the token performance front, ADA must prevent a further decline below the $0.55 support level to maintain its market standing. next Cardano’s DeFi Powerhouse Unveiled, ADA Price Is Down

3 days ago

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