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#Shiba Inu (SHIB) and Polygon (MATIC) Lose Billions but DTX Exchange (DTX) Surges Over 200%
$SHIB $MATIC
In the market correction after the bull run in the crypto market, Shiba Inu (SHIB) and Polygon (MATIC) are some of the most hurt. While the Shiba Inu (SHIB) is down 53% from its all-time high, the Polygon (MATIC) is down nearly the same 51%. Both the SHIB and MATIC have lost over a billion from this downtrend. While these coins are facing a continuous bearish trend, which we will discuss in this article, the new Defi entrant DTX Exchange has risen over 200%.
$SHIB $MATIC
In the market correction after the bull run in the crypto market, Shiba Inu (SHIB) and Polygon (MATIC) are some of the most hurt. While the Shiba Inu (SHIB) is down 53% from its all-time high, the Polygon (MATIC) is down nearly the same 51%. Both the SHIB and MATIC have lost over a billion from this downtrend. While these coins are facing a continuous bearish trend, which we will discuss in this article, the new Defi entrant DTX Exchange has risen over 200%.
Investing.com-- Bitcoin price moved little on Thursday after a volatile session as a forecast from the Federal Reserve of high for longer interest rates largely overshadowed some signs of cooling near-term inflation.
The world’s biggest cryptocurrency rose 0.4% in the past 24 hours to $67,484.6 by 02:05 ET (06:05 GMT). The token clocked wild swings this week, rising as far as $70,000 before falling sharply.
Bitcoin rangebound as Fed forecasts only one rate cut this year
Traders remained largely averse to Bitcoin and broader cryptocurrencies in the face of high-for-longer U.S. interest rates.
While the Fed kept rates unchanged on Wednesday, as expected, Chair Jerome Powell said the central bank now saw the possibility of only one rate cut this year, compared to prior expectations of three cuts.
Several policymakers also called for no rate cuts this year, stating that more progress needed to be made in bringing down inflation. The Fed also hiked its inflation forecast for the year.
The Fed’s comments came after data earlier on Wednesday showed U.S. consumer inflation eased slightly more than expected in May. While Bitcoin saw some gains after the inflation reading, it lost ground after the Fed’s comments.
High rates bode poorly for speculative assets such as crypto currencies, given that they limit the amount of liquidity available for investing in the sector. While recent capital flows data showed institutional investors were still pouring in some money into crypto, this was barely reflected in token prices.
Focus is now on producer price index inflation data for more cues on U.S. inflation. The reading is due later on Thursday.
Crypto price today: Altcoins drift lower amid rate jitters
The prospect of high for longer U.S. interest rates also weighed on broader cryptocurrency prices.
$BONK $PEPE $FLOKI
The world’s biggest cryptocurrency rose 0.4% in the past 24 hours to $67,484.6 by 02:05 ET (06:05 GMT). The token clocked wild swings this week, rising as far as $70,000 before falling sharply.
Bitcoin rangebound as Fed forecasts only one rate cut this year
Traders remained largely averse to Bitcoin and broader cryptocurrencies in the face of high-for-longer U.S. interest rates.
While the Fed kept rates unchanged on Wednesday, as expected, Chair Jerome Powell said the central bank now saw the possibility of only one rate cut this year, compared to prior expectations of three cuts.
Several policymakers also called for no rate cuts this year, stating that more progress needed to be made in bringing down inflation. The Fed also hiked its inflation forecast for the year.
The Fed’s comments came after data earlier on Wednesday showed U.S. consumer inflation eased slightly more than expected in May. While Bitcoin saw some gains after the inflation reading, it lost ground after the Fed’s comments.
High rates bode poorly for speculative assets such as crypto currencies, given that they limit the amount of liquidity available for investing in the sector. While recent capital flows data showed institutional investors were still pouring in some money into crypto, this was barely reflected in token prices.
Focus is now on producer price index inflation data for more cues on U.S. inflation. The reading is due later on Thursday.
Crypto price today: Altcoins drift lower amid rate jitters
The prospect of high for longer U.S. interest rates also weighed on broader cryptocurrency prices.
$BONK $PEPE $FLOKI
Crypto/Stock Futures Flat as Markets Eye Fed Decision and Inflation Data
1. Crypto Dips Amid Rate Jitters
Bitcoin$BTC fell 0.8% to $67,372.3 by 01:34 ET on Wednesday, extending its decline from Tuesday's low of $66,000. Traders are cautious ahead of the Federal Reserve's interest rate decision and key inflation data. High rates diminish the appeal of cryptocurrencies, leading to recent market volatility.
2. Futures Muted
U.S. stock futures were largely flat on Wednesday. By 03:38 ET, Dow futures were up 30 points (0.1%), while S&P 500 and Nasdaq 100 futures remained unchanged. The S&P 500 and Nasdaq Composite hit record highs on Tuesday, boosted by Apple shares.
3. Fed Decision Ahead
The Fed is expected to keep interest rates at 5.25%-5.5%. Attention will be on the Fed's "dot plot" projections for future rates and Chair Jerome Powell’s statement. Recent strong job data has decreased expectations of a rate cut in September.
4. CPI Looms Large
The May consumer price index (CPI) report, due shortly before the Fed meeting concludes, could influence the Fed's rate outlook. Analysts predict stable annual inflation but slight monthly deceleration.
5. Chinese Inflation Weaker
China’s consumer prices rose 0.3% year-on-year in May, below expectations. Producer prices fell 1.4% year-on-year, showing signs of industrial recovery.
6. Crude Prices Rise
Crude prices rose on optimism about global demand. U.S. crude futures increased 0.8% to $78.52 per barrel, while Brent climbed 0.6% to $82.41. Reduced U.S. oil inventories and positive demand forecasts from the EIA and OPEC contributed to the gains.
$ETH $BNB
#ETHETFsApproved
#IOprediction #altcoins
Fed J Powell speech
Bitcoin$BTC fell 0.8% to $67,372.3 by 01:34 ET on Wednesday, extending its decline from Tuesday's low of $66,000. Traders are cautious ahead of the Federal Reserve's interest rate decision and key inflation data. High rates diminish the appeal of cryptocurrencies, leading to recent market volatility.
2. Futures Muted
U.S. stock futures were largely flat on Wednesday. By 03:38 ET, Dow futures were up 30 points (0.1%), while S&P 500 and Nasdaq 100 futures remained unchanged. The S&P 500 and Nasdaq Composite hit record highs on Tuesday, boosted by Apple shares.
3. Fed Decision Ahead
The Fed is expected to keep interest rates at 5.25%-5.5%. Attention will be on the Fed's "dot plot" projections for future rates and Chair Jerome Powell’s statement. Recent strong job data has decreased expectations of a rate cut in September.
4. CPI Looms Large
The May consumer price index (CPI) report, due shortly before the Fed meeting concludes, could influence the Fed's rate outlook. Analysts predict stable annual inflation but slight monthly deceleration.
5. Chinese Inflation Weaker
China’s consumer prices rose 0.3% year-on-year in May, below expectations. Producer prices fell 1.4% year-on-year, showing signs of industrial recovery.
6. Crude Prices Rise
Crude prices rose on optimism about global demand. U.S. crude futures increased 0.8% to $78.52 per barrel, while Brent climbed 0.6% to $82.41. Reduced U.S. oil inventories and positive demand forecasts from the EIA and OPEC contributed to the gains.
$ETH $BNB
#ETHETFsApproved
#IOprediction #altcoins
Fed J Powell speech
Bitcoin Dips Amid Fed Rate Jitters
Bitcoin extended its decline on Wednesday, dropping 0.8% to $67,372.3 by 01:34 ET (05:34 GMT), after hitting a low of $66,000 on Tuesday. Anticipation of the Federal Reserve's meeting and key inflation data kept risk appetite muted.
**Volatile Sessions:** Bitcoin has seen wild swings, rising as high as $72,000 recently. High rates reduce the appeal of risk-driven assets like crypto, leading traders to shift towards safer assets like the dollar.
**Crypto Inflows:** Despite $2 billion worth of inflows into crypto investment products in early June, prices did not reflect this.
**Fed and Inflation:** The Fed is expected to keep rates unchanged, but may present a hawkish outlook due to persistent inflation and a strong labor market. Upcoming CPI data is expected to show inflation remained sticky in May.
**Altcoins Retreat:** Major altcoins fell on Wednesday. Ether dropped over 1% to $3,511.91, while ADA, XRP, and SOL fell between 1.2% and 2.5%. Meme tokens DOGE and SHIB declined by 1.5% and 2.4%, respectively, reflecting cooling sentiment in the sector.
$BTC $ETH $SOL
#FedRateDecisions #bitcoin #IOprediction #ETHETFsApproved
Bitcoin extended its decline on Wednesday, dropping 0.8% to $67,372.3 by 01:34 ET (05:34 GMT), after hitting a low of $66,000 on Tuesday. Anticipation of the Federal Reserve's meeting and key inflation data kept risk appetite muted.
**Volatile Sessions:** Bitcoin has seen wild swings, rising as high as $72,000 recently. High rates reduce the appeal of risk-driven assets like crypto, leading traders to shift towards safer assets like the dollar.
**Crypto Inflows:** Despite $2 billion worth of inflows into crypto investment products in early June, prices did not reflect this.
**Fed and Inflation:** The Fed is expected to keep rates unchanged, but may present a hawkish outlook due to persistent inflation and a strong labor market. Upcoming CPI data is expected to show inflation remained sticky in May.
**Altcoins Retreat:** Major altcoins fell on Wednesday. Ether dropped over 1% to $3,511.91, while ADA, XRP, and SOL fell between 1.2% and 2.5%. Meme tokens DOGE and SHIB declined by 1.5% and 2.4%, respectively, reflecting cooling sentiment in the sector.
$BTC $ETH $SOL
#FedRateDecisions #bitcoin #IOprediction #ETHETFsApproved
Why Alts Bleeding 🩸🩸?
Reason BTC.D is PUMPING
BTC Dominance Moving in Rising Channel Pattern on Weekly Timeframe
Currently Moving in Range Between 53% to 56%
Now Moving Towards 56% Range High as a Result Dip will Continue until it's rejected from 56%
And if Able to Broke 56% then Next Resistance level 58 to 59% Area
#BTC☀ $BTC $ETH $SOL
Reason BTC.D is PUMPING
BTC Dominance Moving in Rising Channel Pattern on Weekly Timeframe
Currently Moving in Range Between 53% to 56%
Now Moving Towards 56% Range High as a Result Dip will Continue until it's rejected from 56%
And if Able to Broke 56% then Next Resistance level 58 to 59% Area
#BTC☀ $BTC $ETH $SOL
Binance To Delist Major Altcoins In June:
Binance:
In the latest development, Binance has announced to delist and cease the trading of significant altcoins OmiseGO (OMG), Waves (WAVES), Wrapped NXM (WNXM), and NEM (XEM) set to take effect on June 17th, 2024. The move comes amidst Binance’s ongoing quality assurance processes to ensure that only the most reliable and secure assets are available on the platform. Several criteria for delisting included the activity level of the altcoin’s development team, trading volume, liquidity, network stability, security, adherence to due diligence, and community communication
$WAVES $OMG $WNXM
Binance:
In the latest development, Binance has announced to delist and cease the trading of significant altcoins OmiseGO (OMG), Waves (WAVES), Wrapped NXM (WNXM), and NEM (XEM) set to take effect on June 17th, 2024. The move comes amidst Binance’s ongoing quality assurance processes to ensure that only the most reliable and secure assets are available on the platform. Several criteria for delisting included the activity level of the altcoin’s development team, trading volume, liquidity, network stability, security, adherence to due diligence, and community communication
$WAVES $OMG $WNXM
### Record-Breaking Heatwaves: Climate Crisis and Business Impacts
In recent years, record-breaking heatwaves have highlighted the urgency of addressing climate change. From the UK's first-ever 40°C+ temperatures in July 2022 to a scorching 52°C in northwest China in 2023, these extreme events have far-reaching consequences.
#### Impact on Business
1. **Supply Chain Disruptions**: Extreme heat can disrupt supply chains, affecting the production and distribution of goods and services. Heat-related damage to infrastructure and transportation systems can lead to delays and increased costs.
2. **Healthcare Costs**: High temperatures pose health risks to employees, leading to increased absenteeism and healthcare costs for businesses. Heat-related illnesses can reduce productivity and impact the overall workforce well-being.
3. **Energy Consumption**: Businesses may experience higher energy costs during heatwaves due to increased cooling demands. This can strain budgets and reduce profitability, especially for industries reliant on energy-intensive processes.
4. **Agricultural Losses**: Heatwaves can devastate agricultural production, leading to crop failures and reduced yields. This affects food supply chains and can lead to price fluctuations, impacting businesses across sectors.
5. **Infrastructure Damage**: Heatwaves can damage infrastructure such as buildings, roads, and utilities, requiring costly repairs and maintenance. Businesses may face disruptions in operations and face financial losses due to infrastructure damage.
#### Urgent Need for Climate Action
Addressing climate change is critical to mitigate the impacts of heatwaves on businesses and communities. Transitioning to sustainable practices, reducing greenhouse gas emissions, and investing in climate resilience measures are essential steps.
#BusinessStrategy #Megadrop #altcoins
In recent years, record-breaking heatwaves have highlighted the urgency of addressing climate change. From the UK's first-ever 40°C+ temperatures in July 2022 to a scorching 52°C in northwest China in 2023, these extreme events have far-reaching consequences.
#### Impact on Business
1. **Supply Chain Disruptions**: Extreme heat can disrupt supply chains, affecting the production and distribution of goods and services. Heat-related damage to infrastructure and transportation systems can lead to delays and increased costs.
2. **Healthcare Costs**: High temperatures pose health risks to employees, leading to increased absenteeism and healthcare costs for businesses. Heat-related illnesses can reduce productivity and impact the overall workforce well-being.
3. **Energy Consumption**: Businesses may experience higher energy costs during heatwaves due to increased cooling demands. This can strain budgets and reduce profitability, especially for industries reliant on energy-intensive processes.
4. **Agricultural Losses**: Heatwaves can devastate agricultural production, leading to crop failures and reduced yields. This affects food supply chains and can lead to price fluctuations, impacting businesses across sectors.
5. **Infrastructure Damage**: Heatwaves can damage infrastructure such as buildings, roads, and utilities, requiring costly repairs and maintenance. Businesses may face disruptions in operations and face financial losses due to infrastructure damage.
#### Urgent Need for Climate Action
Addressing climate change is critical to mitigate the impacts of heatwaves on businesses and communities. Transitioning to sustainable practices, reducing greenhouse gas emissions, and investing in climate resilience measures are essential steps.
#BusinessStrategy #Megadrop #altcoins
Elon Musk buys 100 thousand chips for 40 thousand dollars! Here's why
Elon Musk can't stop. This time, Musk is purchasing 100 thousand chips for his new artificial intelligence initiative xAI. Musk announced that he raised $6 billion in funding for xAI, which he founded last summer. So, what will this huge budget be used for? Let's examine this exciting news in detail.
Elon Musk is buying 100 thousand Nvidia-branded chips for his artificial intelligence company xAI
This $6 billion raised will be used to bring xAI company's first products to market, create advanced infrastructure, and accelerate research and development of future technologies. So far, xAI has introduced a chatbot called Grok, which it developed as a rival to OpenAI's #ChatGPT . Grok is currently only available to X Premium subscribers.
This funding round included giant investors such as Andreessen Horowitz, Sequoia Capital, and Saudi Arabian Prince Al Waleed bin Talal. Last year, xAI announced it was seeking equity investment of up to $1 billion. However, a few months ago, The Financial Times reported that xAI was seeking $6 billion, and Musk denied the report at the time. Now we see that $6 billion has actually been collected.
Developing artificial intelligence is not cheap. Nvidia's upcoming Blackwell B200 AI graphics cards range from $30,000 to $40,000 each. According to a report last week, xAI will require 100,000 of #Nvidia's existing H100 chips to power the upgraded version of its #Grok AI chatbot. #Musk told investors they plan to launch the new data center in the fall of 2025.
The race for #AI chips, talent and technology has never been this competitive. Major technology giants such as Google, Apple, Amazon, Microsoft and Meta spend billions of dollars on artificial intelligence projects. Microsoft has formed a multibillion-dollar partnership with OpenAI. OpenAI CEO Sam Altman is seeking trillions of dollars to revamp the global chip industry. Musk, on the other hand, is suing OpenAI, claiming that it has deviated from its mission to benefit humanity.
$XAI
Elon Musk can't stop. This time, Musk is purchasing 100 thousand chips for his new artificial intelligence initiative xAI. Musk announced that he raised $6 billion in funding for xAI, which he founded last summer. So, what will this huge budget be used for? Let's examine this exciting news in detail.
Elon Musk is buying 100 thousand Nvidia-branded chips for his artificial intelligence company xAI
This $6 billion raised will be used to bring xAI company's first products to market, create advanced infrastructure, and accelerate research and development of future technologies. So far, xAI has introduced a chatbot called Grok, which it developed as a rival to OpenAI's #ChatGPT . Grok is currently only available to X Premium subscribers.
This funding round included giant investors such as Andreessen Horowitz, Sequoia Capital, and Saudi Arabian Prince Al Waleed bin Talal. Last year, xAI announced it was seeking equity investment of up to $1 billion. However, a few months ago, The Financial Times reported that xAI was seeking $6 billion, and Musk denied the report at the time. Now we see that $6 billion has actually been collected.
Developing artificial intelligence is not cheap. Nvidia's upcoming Blackwell B200 AI graphics cards range from $30,000 to $40,000 each. According to a report last week, xAI will require 100,000 of #Nvidia's existing H100 chips to power the upgraded version of its #Grok AI chatbot. #Musk told investors they plan to launch the new data center in the fall of 2025.
The race for #AI chips, talent and technology has never been this competitive. Major technology giants such as Google, Apple, Amazon, Microsoft and Meta spend billions of dollars on artificial intelligence projects. Microsoft has formed a multibillion-dollar partnership with OpenAI. OpenAI CEO Sam Altman is seeking trillions of dollars to revamp the global chip industry. Musk, on the other hand, is suing OpenAI, claiming that it has deviated from its mission to benefit humanity.
$XAI
