Category: AI

CryptoanalystJavonMarkshasprovidedatimelineforwhentheShibaInupricewillreachitscurrentall-timehigh(ATH)of$0.00008.Thiscameastheanalystpredictedapricesurgeofover350%forthememecoin.

EthenaLabs,asyntheticdollarprotocolbuiltonEthereum,isunderscrutinyafterallegedlymisusing180millionENAtokensonacryptofarmingevent.Thepriceofatokenwentdownby6.01%.

SolanaPhantomWalletisdownagain.InanupdatesharedbytheprotocolonitsofficialXaccounttorevealthattheitisexperiencingan“uptimeincident.”TheSolana-basedwalletsaidsomeofitsservicesmaybetemporarilysuspendedatthemoment.

RenownedeconomistPeterSchiffhascomparedMichaelSaylor’sMicroStrategywithgoldminingcompanies.ThiscomesamidasurgeintheMSTRstock,whichisoncourseforitshighestclosesinceMarch2020.

AlchemyPayhasannounceditsplansforlaunchingAlchemyChain,anewLayer-1blockchain.Thisnewscameviathecompany’sofficialaccountonX.BuiltontheSolanaVirtualMachine(SVM)architecture,AlchemyChainaimstomeetthegrowingneedsofAlchemyPay’soperations.Itseekstorevolutionizehowcryptoandfiatpaymentsareintegrated. Unveilinglaunchplanfor#AlchemyChain,anultrascalableLayer-1blockchaindesignedtounitefiatandcryptoinafrictionlesspaymentsystem. ⚡High-scalabilityadoptsSVM🔒InnovativeTrustedPoAsecurity💸$ACH&fiatsupportedforgasfees⛓On-chainearningstofiat…pic.twitter.com/sCgdIhAelG —AlchemyPay|$ACH:Fiat-CryptoPaymentGateway(@AlchemyPay)October28,2024 AlchemyChainEnablesBlockchainandOff-ChainInteraction AlchemyChainisspeciallydevelopedtogiveaboosttopaymentstructure.Itmakestheinteractionbetweenblockchaintransactionsandoff-chainstoragepossible.Theideaistodevelopanenvironmentinwhichfiatandcryptocurrenciescanbeintegratedseamlessly. TheinfrastructureofAlchemyChainishighlyscalable.Itisespeciallydesignedforbusinessuseatacommercialscale.Thisdesignensurestheintegrationoftheon-chainandoff-chainactivitiescaneasilyoccurwhilemaintainingtheirfunctionalities.Itmakesforhightransactionvelocity,whichisbeneficialasAlchemyPay’suserbasegrowsinsize.TPoAisauniqueconsensusalgorithmintheblockchainsystem,whichisapartoftheblockchain.Thisincreasesthecredibilityandefficiencyofthetransactionverificationsprocess. Additionally,AlchemyChainwillintegrateoptimalLayer-2solutionsappliedtotheblockchainplatform.Thesesolutionshelptoimproveaccountmappingandthedatasynchronizationprocess.Thishelpstoeliminateredundancy,andthereforemakesscalabilityasefficientaspossible. AlchemyChainAimstoPromoteCryptocurrencyUse The$ACHtokenwillbetheutilitytokenofAlchemyChain.$ACHorfiatcurrencieswillbeallowedforpaymentofthegasfees.Thisfeaturemakesitpossibletoinstantlyconverton-chainearningstofiat,withouttheneedtosellBitcoin.Stablecoinrevenuemechanismwillalsobeimplementedtoprovideuserswiththepossibilitytoearnyields. Toassistthedevelopersandtheeco-projects,twokeyinstrumentswillbelaunchedontheAlchemyChain.Thetechnicalcomplexityoflaunchingmeme-basedprojectswillbereducedwiththehelpoftheMemeLaunchpad. Forthisreason,AlchemyPayplanstointegrateallofthesethingswithAlchemyChain.Thisprojectisagoodexampleofhowthiscompanyisfocusedontheuseofcryptocurrenciesintheperformanceoffinancialtransactions.Asablockchainplatform,AlchemyChainwantstoestablishitselfasameansofacceptingcryptopaymentsandpromotetheuseofcryptocurrencies. blockchainreporter.net

Cardano(ADA)priceiscurrentlyatapivotalpoint,andtechnicalindicatorsreflectmixedsignals.TheADXshowsaweakeningtrendstrength,whilelargeADAholdershavemaintainedstabilityintheirpositions. EMAlinesalsoindicateADAisatadecisionpoint,withkeysupportandresistancelevelsdefiningpotentialmovement.InvestorsshouldmonitorthesefactorstounderstandwhetherADAwillseeabullishbreakoutorcontinueconsolidating. ADACurrentTrendIsStillStrong TheADX(AverageDirectionalIndex)forADAcurrentlysitsat32.85,markingadecreasefromthepreviousvalueof37justadayago.ThisdropindicatesthatthestrengthofADA’sprevailingtrendhasweakenedslightly. WhileanADXabove25generallypointstoastrongtrend,therecentdeclinefrom37suggestsalossofmomentum,indicatingthatthecurrentdowntrendmaybelosingitsforce.However,it’sstillabovethekeythresholdof25,whichimpliesthatsomelevelofdirectionalstrengthisbeingmaintained. ADAADX.Source:TradingView Despitethedip,theADXlevelremainsinarangethatreflectsmoderatetrendstrength,thoughthedecreasewarnsofpotentialfading.IftheADXcontinuestodropfurther,itcouldsuggestthatADApriceismovingintoaphaseofconsolidationorapotentialreboundsincethecurrentdowntrendmaybelosingsteam. CardanoWhalesAreStillStable Thenumberofaddressesholdingbetween1millionand10millionADAhasremainedstableinrecentdays.FromOctober20toOctober28,thisnumbergrewslightlyfrom2,444to2,452. Thissuggeststhatmajorholders,or“whales,”havenotbeenmakingsignificantmovesrecently.ThismetricisimportantbecauseithighlightsthebehavioroflargemarketparticipantswhocansignificantlyimpactADA’sprice. ADAAddressesHoldingBetween1,000,000and10,000,000.Source:Santiment Whales’lackofnoticeablebuyingorsellingactivityimpliesthattheyareadoptinganeutralstance,neitherbullishnorbearish.Thiscanindicateaperiodofmarketindecision,wherewhalesarewaitingforclearersignalsbeforetakingaction. ADAPricePrediction:CanItGetBackto$0.41? Currently,thecoin’spriceisbelowlong-termEMAlines,suggestingthatADAremainsinadowntrend.IfthepricecanbreakabovethehigherEMAlevels,itcouldsignalapotentialbullishreversal,whilerejectionattheselevelsmayleadtofurtherconsolidation. ADAEMALinesandSupportandResistance.Source:TradingView Regardingsupportandresistancezones,immediateresistanceisindicatedaround$0.36,asshownbytheblueline.Ifthatoneisbroken,ADApricecouldriseto$0.41,apotential21%growth.ADAshowssupportat$0.31and$0.30,highlightedinred.IfthecurrentdowntrendcontinuesandADAtests$0.30,thiswouldmeanapotential10%pricecorrection. TheseareasarecrucialforADA’snextmove;asuccessfulbreakaboveresistancecouldopenthedoorforfurtherupside,whereasadropbelowsupportmaysignalincreasedbearishpressureandfurtherdownsiderisk. beincrypto.com

It\'shappenedagain.Bitcoin\'spricehasblastedbeyond$70,000forthefirsttimesinceJune. Thelargestcryptobymarketcapitalizationisup3%onthedayto$70,100,accordingtoCoinGeckodata. Theasset\'srisecomesasinvestorsagainturntothenewly-approvedexchange-tradedfunds(ETFs),providingapathforinstitutionalinvestors—previouslytoocautioustopurchasetheassetonexchanges—regulatedexposuretocrypto. Investorsthismonthhavethrownbillionsofdollarsatthenewinvestmentvehiclesfollowingahiatusearlierthisyear. Theproductshavebeenwildlypopular,takinginmorethan$20billionthisyear.BlackRock\'siSharesBitcoinTrusthasbeenthemostsuccessfulofthetenvehiclestodate. Bitcoinhitanewall-timehighof$73,737inMarch,justtwomonthsaftertheBitcoinETFswereapproved. TheassetthenstruggledfollowinggeopoliticaltensionsintheMiddleEastanduncertaintyoverwhattheU.S.FederalReservewoulddoregardinghistoricallyhighinterestrates. Butthecentralbankdecidedtoslashrateslastmonth,andinvestorshaveagaingainedanappetitefor“risk-on”assetslikeBitcoin(suchinvestmentsdobetterinalow-interestrateenvironmentbecauseitischeapertoborrowmoney.) It\'snotjustBitcointhat\'sontheup:Ethereum\'spricehasalsojumpedtodayandnowstandsat$tk. AndDogecoin,whichthisweekmadeacomebackfollowingcommentsfromtheworld\'srichestman,ElonMusk,isthebiggestwinneroverthepastday.Theasset,whoselogofeaturesaJapanesehuntingdog,isupmorethan13%to$0.16. EditedbySebastianSinclair decrypt.co

MatthewSigel,headofdigitalassetsresearchatVanEck,hasprojectedthatBitcoincouldreachavalueof$3millionby2050.Inhisanalysis,hepredictedthatBitcoinwouldbecomeareserveasset,ownedbycentralbankswitha2%sharetostrengthentheglobaleconomicsystem. DuringhisrecentinterviewonCNBC,Sigelrevealedthathispricetargetisbasedonaconservativemodel.AccordingtoSigel’sprojection,therateofgrowthislikelytobe16%peryearoverthenextfewdecades.HebelievesthatthisgrowthpathisplausibleduetothepositionofBitcoinasaninflation-proofasset,whichmaycomeintoitsownastheworldeconomychanges. “Thatsoundsextreme,”Sigelsaid,“butthat’sa16%compoundannualgrowthrateforacoupleofdecades…sointothemillionsoverthemediumtermisahighconvictioncall.” Sigelnotedthattraditionally,Bitcoinhasalwaysdonerelativelywellduringperiodsofheightenedmarketvolatility,includingtheelectoralprocess.Similarly,theperformanceofBitcoinin2020alsodemonstratedlowvolatilitybeforetheelectionandthenariseinvalue.Ifthepatternistobefollowed,SigelanticipatesasignificantnewwaveofbuyersinthedaysaftertheelectionasthepriceofBitcoinrises. \"Thisisaverybullishsetupforbitcoinintotheelection.Wesawtheexactsamepatternin2020wherebitcoinlaggedwithlowvolatilityandthenonceawinnerwasannounced,wehadahighvolrallyasnewbuyerscomeintothismarket,\"says@matthew_sigelof@vaneck_us.pic.twitter.com/EcIzPAGAq0 —SquawkBox(@SquawkCNBC)October28,2024 BRICSexpansioncouldcatalyzeglobalBitcoinadoption WhenanalyzingtheglobalpositioningofBitcoin,Sigelpointedoutthelimitednumberofcoinswhichis21million,afactorthatmanypeoplebelievemakesitagoodstoreofvalueagainstcurrencydepreciation.SigelnotedthatwiththerecentadditionofArgentina,UAE,andEthiopiatotheBRICScountries,therewasagrowinginterestinBitcoinasadollarsubstituteinemergingmarkets. MembercountriesoftheBRICShavebeenlookingforwaystotrade,withBitcoincomingupasanoption.Forinstance,RussiaisusingitssovereignwealthfundtoinvestinregionalprojectsthatcanincludeBitcoinminingandAIinfrastructureandisplanningtouseBitcoinforsomepartofthetradesettlements. Sigelfurtherstated,“SothereistremendousurgencyoutsideoftheUStofindawaytocircumventtheirresponsiblefiscalpolicythatwe’vebeenrunninghereintheUS.” MatthewSigel@matthew_sigelon#Bitcoinandtheelectionsetupon@CBSNews –MoodydowngradetoAAafterelectioncatalyst–BricsmovingaheadwithBitcoinpic.twitter.com/xoqGRFMXPh —MartyParty(@martypartymusic)October28,2024 SigelalsoservedawordofcautiontotheUnitedStates,notingthatifthecountryfailstoembracethesedynamics,thenitmayrisklosinginfluenceintheglobalfinancialsystem.InthecasewheretheBRICScountriesaretosolidifytheusageofBitcoinasareserveasset,theU.S.mayexperienceastrategicthreatinthelongterm. InresponsetoaquestiononthepossiblefuturepriceofBitcoin,Sigelremainedhopeful,citinghistoricalrallydata.TheleastrallyfromthebottomtothepeakforBitcoinwasabout2000%.Evena1,000%gainwouldbringBitcoin’spricetonearly$180,000.Hebelievesthepost-electionenvironmentcouldbethebiggestdriverforBitcoininthenearfuture,andthecryptocurrencymaysurgetohighsof$200,000inthefuturecycles. cryptopolitan.com

RLUSDtestingonXRPLedgerintensifies,withhigherthresholdstotrackonlymajormarketmovements,enhancingdataclarity. TheXRPLedger’sscalableplatformisshowcasingitspotentialasastablecoinfoundationthroughRLUSD’songoingperformancetests. AdjustedtrackingfiltersforRLUSDallowdeveloperstofocusonsignificantactivity,revealingvaluableinsightsintotokenstability. ThedigitalassetRLUSDcontinuestoundergoactivetestingontheXRPLedger,showcasingtheplatform’scapabilitiesinhandlingreal-time,token-basedtransactions.Asforstabilitytokens,thereisapopularstablecoin,RLUSD,whichispeggedtothevalueoftheU.S.dollar:LargemovementsofRLUSDaretrackedusingthetrackingmechanismdevelopedtomonitorsignificantchangesforthesetokenizedassets. #RLUSDisstillactivelytestedontheXRPLedger,ijustputslightlyhigherthresholdlimitsforpostsonthetrackersonotallsmallmovementsappear.pic.twitter.com/YMJ51qvtB1 —Vet🏴‍☠️(@Vet_X0)October28,2024 Thistracker,though,hasbeenfine-tunedtoexcludethemarginalmovementsoftherate,andconcentrateonthesignificantmovementsofthesaidrateinstead.Thiswaytheonlyactivityisshownlettingbothdevelopersandusershaveabetterunderstandingofthetokenatworkonthenetwork. HighThresholdsforTrackingEnhancesDataQuality Topreventthetrackerfrombeingoverloadedbylow-levelchanges,developershaveadjustedupwardthethresholdlevels.SuchadjustmentsofferasmoothpictureoftheoperationsofRLUSDwherehugemarketfluctuationsandfrequentminorchangescanbeobserved. DevelopershopetofurnishmoreimportantinformationtotheusersandanalystswhomonitortheperformanceofRLUSDontheXRPLedger.Thismethodalsominimizesnoisewherebyobserversgettolearnthetoken’sprogressandstabilityduringthetestphaseineasierunderstanding. ExploringtheXRPLedger’sRoleinDigitalAssetInnovation TheXRPLedgerhashighscalabilityandeffectiveness,whichenablesittoholdnumerousdigitalcurrenciesaswellasdecentralizedapplications.JusthostingRLUSD,theXRPLedgerprovesthecapabilityofitsinfrastructureforthestablecoinbusinessfunction,whichiswidelydevelopingwithinthedigitalfinancesphere.ThisplatformandthetestingofRLUSDcouldprovidecluesonhowTLscancontinuetomanagesuchtransactionsaswellasotherstabledigitalcurrenciesusingtheXRPLedgerinfutureapplicationsofsupportingfinancialtechnology. Atthesametime,whilethetestingisbeingconducted,analystsarepayingattentiontotheresultsoftheRLUSD.Itisexpectedinthelightoftheevolvingdevelopmentofbitcoin,itcouldofferastabledigitalcurrencyaffiliatedtotheU.Sdollar.ThehigherthresholdlimitsmaypersisttoapplyfilteringonsmallmovementsandremainrelevantinmonitoringcriticalpointsthatdetermineRLUSD’sperformance. cryptonewsland.com

Aninvestortransformedamodestinvestmentof$3,500intoastaggering$3.2millionwithinjust48hours.Thetransaction,carriedoutusingthecryptocurrencySolana($SOL),involvedthepurchaseof47.54million$ai16ztokens. Thisguyturned$3.5Kinto$3.2Minjust2days,a914xreturn! 2daysago,hespentonly20$SOL($3.5K)tobuy47.54M$ai16zandheldontoit,nowworth$3.2M!#ai16zhttps://t.co/XebdxcWRPopic.twitter.com/rHT4QjOnUS —Lookonchain(@lookonchain)October27,2024 Twodaysago,theinvestorutilized20SOL,equivalentto$3,500atthetime—toacquirethe$ai16ztokens.Thesetokens,relativelyunknowninthecrowdedcryptocurrencylandscape,havesurgedinvalue,bringingthetotalworthoftheinvestmenttoapproximately$3.2milliontoday.Accordingtothestats,thisrepresentsaphenomenal914timesreturnontheinitialinvestment. MarketResponseandFutureOutlook Thesuddenandremarkableriseinthevalueof$ai16zhascapturedtheattentionofmarketanalystsandinvestorsalike,raisingquestionsaboutthesustainabilityofsuchgainsandthevolatilityassociatedwithnewtokens.Thecryptocurrencymarket,knownforitsrapidfluctuations,providesbothopportunitiesandrisks,asdemonstratedbythisextraordinaryevent. Asthemarketcontinuestoevolve,thestoryofthisinvestor’ssuccesswilllikelyencourageotherstolookforsimilaropportunities,whilealsoremindingthemoftheinherentrisksinvolvedincryptocurrencyinvestments. blockchainreporter.net