Category: Cryptocurrency News

Cryptocurrency News and Public Mining Pools

Riot acquires 13% Bitfarms stake as CEO decries ‘poison pill‘ strategy

Bitfarms’ stock price on the Nasdaq has increased more than 56% in the last 30 days amid Riot Platforms’ attempt at a takeover.

FET, OCEAN, And AGIX Drop 8% After ASI Token Merger Delay

The Artificial Superintelligence Alliance (ASI) announced its token merger would be postponed to next month after presenting logistical and technical issues. The alliance was set to merge Fetch.AI (FET), SingularityNET (AGIX), and Ocean Protocol (OCEAN) into the ASI token on Thursday. As a result, the three AI tokens faced a 4% drop in the last 24 hours. Related Reading: Crypto Expert Reveals Top 7 AI Tokens For Massive 100x Growth – Don’t Miss Out! ASI Token Merger Postponed To July In March, Fetch.AI, SingularityNET, and Ocean Protocol, three leading AI blockchain projects, revealed their plan to merge into the ASI token. This move aims to develop a decentralized AI platform to foster technology advancements accessible to a wider audience. On Tuesday, the ASI alliance announced the delay of the token merger from June 13 to July 15, 2024. Per the announcement, the primary reasons for the rescheduling are “logistical requirements” and “technical independencies.” It was further explained that the ASI token merger involves managing complex integrations and attention to numerous moving parts. As a result, the delay was a “strategic decision” to ensure a smooth execution during the process and ensure all “stakeholders’ needs are adequately met.” Humayun Sheikh, Fetch.AI’s CEO, and ASI’s Chairman, reassured the community that the alliance’s vision remained unchanged despite the delay. This temporary delay does not impact the substantial progress we have made towards creating a decentralized superintelligence network. Our teams are actively working with centralized exchanges to finalize the remaining steps. We appreciate the continued support and patience of our community and stakeholders as we work through these final logistical steps. SingularityNET Foundation’s CEO, Ben Goertzel, explained that they are working on integrating the three companies’ AI and blockchain technology. Additionally, he stated his excitement for the upcoming milestone: The finalization of the 3-way tokenomic merger on July 15 will be a major milestone, and we anticipate a series of progressively more exciting milestones after that as we leverage our $ASI token-based network to move toward increasingly capable AI systems and in time actual superintelligence. FET, AGIX, And OCEAN Face 8% Drop After the announcement, the three AI tokens saw a negative price impact in the following hours. SingularutyNET’s AGIX token saw an 8.9% decline, from trading at $0.7035 to $0.6404 throughout Tuesday. In the early hours of Wednesday, the token recovered some ground from the retrace. AGIX traded at $0.6819, a 3.8% decrease from the day before. Similarly, Ocean Protocol’s OCEAN had an 8% drop after the news. The token’s price went from trading at $0.7156 to $0.6576 before recovering the $0.68 support level on Wednesday morning. At the time, AGIX faced a 4.4% decline in its price before the announcement of the delay. Meanwhile, FET saw the largest retrace of the three, with a 10.8% drop. The token fell from the $1.66 price range to $1.48. Later, the token recovered above the $1.62 level, a 3.1% decrease from Tuesday morning. Crypto analyst Altcoin Sherpa commented on FET’s performance. The price drop was a good reminder that “everything comes back down eventually; you just have to be patient.”  Moreover, Sherpa said the price range may be a good buy, but it was yet “TBD if it’s ‘the bottom.’” Related Reading: Dogwifhat To Tumble? Analyst Sets $1 Target For WIF However, the tokens have now recovered from the drop. As of this writing, FET is trading above the $1.7 price range. The surge represents a 6.7% increase in the last hour and a 4.4% recovery from its price 24 hours ago. Similarly, AGIX and OCEAN have seen a 5.7% and 5.5% surge in the last hour. This represents a 3.4% and 3% increase since the ASI token merger delay announcement. Featured Image from Unsplash.com, Chart from TradingView.com

McDonald’s metaverse in Singapore, South Korea classifies NFTs as virtual assets: Nifty Newsletter

NFT sales surge volumes across various platforms and blockchains, with Bitcoin-based digital collectibles leading the charge.

BTC reclaims $69K, derivatives signal additional upside

Bitcoin futures and options markets indicate that the prevailing sentiment remains bullish.

Bitcoin: Trump wants the USA to seize the remaining BTC

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Wu-Tang Clan ‘nothing to F with’ but does PleasrDAO have Shkreli case?

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Bitcoin holds steady after Fed cites ‘modest’ progress toward 2% inflation objective

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How much does self-custody cold storage cost? It doesn’t have to cost an arm and a leg. But extra security is worth spending money on, especially if you are holding bigger bags.

1- Paper wallet. Cost: typically under $5 This is the cheapest option, but also the least practical, gives you the least protection against disasters, and has the least security features. It's also more for one time use, because you can't make constant transactions without increasing your risk and exposure. Good for: small holdings, short term/mid…
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Anthony Pompliano Sold His Ethereum for Solana During the 2024 Bull Market

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Bullish News: Top Analyst Forecasts Altcoin Bottom Today, Market Poised For Upswing – Here’s Why

In a recent social media post, renowned crypto analyst Michael Van de Poppe shared his predictions regarding the potential bottoming out of the altcoin market.  Van de Poppe emphasized the significance of key economic data and the upcoming interest rate decisions from the Federal Open Market Committee (FOMC), highlighting their potential impact on the crypto market. Altcoin Rally Ahead? CPI Data Points To Bullish Outlook Consumer Price Index (CPI) data revealed that US inflation had fallen to 3.3%, lower than expectations, which he deemed bullish news for the altcoin market. The CPI data holds particular importance as it influences the Federal Reserve’s decision on interest rate cuts. Related Reading: Ex-Ripple Director Explains XRP Price Slide Amid Good News Van de Poppe explained that if the CPI data came in above expectations, it would have led to a stronger US dollar and higher yields. In such a scenario, the chances of a near-term rate cut would have diminished, leading to a decline in risky assets. Conversely, a lower-than-expected CPI reading paves the way for a positive market reaction, as is the case today. The FOMC’s interest rate decisions were identified as the second significant event of the day. Following the European Central Bank’s recent rate cut, there is speculation that the US might consider similar measures.  Van de Poppe emphasized the importance of Federal Reserve Chairman Jerome Powell’s speech, as it could provide valuable insights into future monetary policy, potentially influencing market sentiments. Trading With Caution The altcoin and crypto markets experienced notable corrections last week, led by Ethereum (ETH), the largest altcoin in the market, with a price drop of over 5%, with a historical negative correlation observed during FOMC meetings and CPI releases.  However, Van de Poppe suggested that a repricing upwards could be anticipated, potentially leading Bitcoin to approach its all-time high of $73,700 in the coming weeks if the FOMC adopts a dovish stance. However, caution was advised, as price action can be deceptive. In the event of an unchanged rate decision, initial downward market responses might occur, with the true impact unfolding later.  Related Reading: Bitcoin Price Prediction: Major Analysts Say BTC Is Headed For 6-Digit ATH Another market expert, Adrian Zduńczyk, offered his perspective, highlighting the tendency for prices to retrace to previous levels with little effect on volatility following FOMC decisions. While traders often anticipate news releases and follow patterns, he cautioned against trading against the Federal Reserve’s monetary policy decisions. As the altcoin market awaits the outcome of key economic data and FOMC decisions, analysts monitor these factors closely, anticipating a potential reversal and subsequent market upswing. With the Ethereum ETF seeking trading in the coming weeks, the summer months promise renewed market momentum and a potential challenge to all-time highs. ETH is currently trading at $3,618, experiencing a significant surge of 4.1% in the past few hours, coinciding with positive CPI data and heightened expectations of favorable news from the US Federal Reserve.  Featured image from DALL-E, chart from TradingView.com