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Meta CEO Mark Zuckerberg: They are trying to create God In a recent interview, Mark Zuckerberg expressed his strong belief in the importance of open-source AI and criticized rivals trying to produce the only true AI. Zuckerberg criticized closed AI platforms, arguing that the best experiences come from unlocking the potential of diverse individuals and allowing them to explore different approaches. He also discussed Meta's plans to create AI avatars on Instagram and the development of screenless smart glasses. The highlights of Mark Zuckerberg's interview on YouTube are as follows: Zuckerberg argues that open-source AI is democratizing technology. He criticizes his rivals for trying to create 'the only true artificial intelligence' and likens it to 'creating God'. Meta focuses on developing a variety of AI tools and technologies, including #AI avatars and smart glasses. Zuckerberg's statements show that negotiations with Apple regarding artificial intelligence integration have failed.
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Bitcoin Poised for Rally as US PCE Inflation Cools, Potential Fed Rate Cut in September. The latest report from the US Bureau of Economic Analysis shows a slowdown in the personal consumption expenditures (PCE) inflation rate; This rate decreased from 2.7% to 2.6%. Similarly, annual core PCE inflation decreased from 2.8% to 2.6%, in line with market expectations. This cooling inflation trend is being watched closely as it forms the basis for the Federal Reserve's potential interest rate decisions. Financial analysts are discussing the possibility of the Federal Reserve cutting interest rates by 25 basis points in September. Fed official Mary Daly acknowledged that cooling inflation data offered positive signs, but emphasized that the Fed's job is not yet done and took a cautiously optimistic approach. However, major financial institutions such as JPMorgan, Goldman Sachs and Morgan Stanley predict that these inflation trends will lead to interest rate cuts later in the year. Altcoins such as #Bitcoin , #Ethereum and #Solana experienced a significant sell-off with the last options expiry. However, positive inflation data brought some relief to the cryptocurrency market; Bitcoin has managed to hold its ground, avoiding major sell-offs as traders digest the potential for more favorable monetary policies. Prominent analysts such as Michael van de Poppe predict that Bitcoin will continue to consolidate in the near term. They note that altcoins have a higher return potential compared to Bitcoin, but an early altcoin season is unlikely at this stage. Additionally, Rekt Capital's analysis suggests that Bitcoin is just above a key threshold and could potentially break out of the Bull Flag formation by the daily close.
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Ripple (XRP) and PEPE Post 100 Percent Gain in Key Metric, Early Sign of Major Altcoin Bull Run? Ripple (XRP) and Pepe Coin (PEPE) have recorded a significant 100% increase in key metrics, sparking speculation about an upcoming altcoin bull run. While investors turned their attention to these altcoins, RCO Finance (RCOF) attracted attention with its maximum gain potential in the predicted bull run. In this overview, we will examine the market performance of these well-established altcoins and how you can benefit from the projected gains of RCO Finance (RCOF). RCO Finance (RCOF) has positioned itself to capitalize on the projected altcoin bull run to record unprecedented growth. This strategic market positioning is the result of the project's crypto trading platform, a powerful Robo Advisor, and an ongoing pre-sale to attract millions in funding. Built on the Ethereum blockchain, RCO Finance (RCOF) has provided crypto investors with the ability to maximize their potential profits with these three key offerings. The crypto trading platform is a fully automated, user-friendly platform that offers over 120,000 tradable assets with leverages up to 1000x. The trading volume of Pepe Coin (PEPE) also increased from $400.48 million to $680.81 million, with a price increase of 19.42% in the last 24 hours. The overall market sentiment is bullish, with market analysts predicting it could trade as high as $0.00001535 before the end of the week. This impressive market performance follows a bearish wave in the broader memecoin market this month, which led to double-digit losses in several memecoins, with Pepe Coin (PEPE) falling 45% below its all-time high. Moreover, PEPE gained a 734% advantage last year, outperforming 96% of the top 100 cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH). Given this strong market position, speculation is increasing on its potential to trigger a significant bullish reversal in the broader memecoin market.
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92 Million Ripple (XRP) Withdrawn from Binance. According to Whale Alert's latest tweets, there have been four major XRP transfers in the last 24 hours, with approximately 160 million XRP coins changing hands. These large transactions were highlighted by the price of XRP, the seventh-largest cryptocurrency, rising slightly by 3 percent overnight. Popular blockchain detective Whale Alert has identified four significant crypto transactions carrying large chunks of XRP. Two of these transactions were withdrawals made by the Binance exchange: 43,894,329 XRP equaled approximately $20,860,666 and 48,270,270 XRP equaled approximately $23,055,620. Both transfers were made to anonymous blockchain addresses. According to Whale Alert, the first transaction occurred approximately 22 hours ago, and the second occurred five hours ago. Bithomp XRP explorer revealed that both XRP transfers were made to crypto wallets connected to Binance. This likely indicates internal transfers by Binance for the purpose of redistributing XRP assets. Apart from this, the crypto tracker noted that 32,710,000 XRP was moved to Bitso, the largest exchange in Latin America, and 31,185,000 XRP was moved to Bitstamp. These transactions involved fiat equivalents of $15,466,399 and $14,742,502, respectively. The other two XRP transfers were made from wallets connected to Ripple. Bitstamp and Bitso are among the crypto exchanges that cooperate with Ripple in the international payments system. This system was formerly known as On-Demand Liquidity and was recently renamed Ripple Payments. Currently, Ripple is working on its own stablecoin backed by the US dollar. Ripple, which wants to take part in the $150 billion stablecoin market, wants to get a share of this cake.
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Long-Term Bitcoin (BTC) Holders Sold $10 Billion in BTC These sales indicate a significant change in market dynamics. Historically, long-term holders tend to hold onto their holdings during market fluctuations, contributing to the overall stability of the #BTC price. However, these owners' decision to liquidate such a large portion of their assets marks an emotional shift. In June, these sales slowed down and long-term holders sold an additional 40,000 BTC. Although this figure is significantly lower than May's sales volume, it still shows an ongoing liquidation trend among long-term investors. The cumulative effect of these sales contributed to the overall downward trend in the market. It has had a significant impact on the price of Bitcoin, with Bitcoin price dropping by 10.03% in the last 30 days. This reflects the market's reaction to increasing selling pressure. Currently, Bitcoin is trading at $61,343, a noticeable decline from its previous levels. There may be various factors that influence long-term holders to liquidate their BTC. Given Bitcoin's significant appreciation over the past few years, long-term holders may be reaping the benefits. Many of these investors purchased #BTC at significantly lower prices, and current levels present an attractive opportunity to profit. Broader economic trends such as interest rate changes, inflation concerns and geopolitical events can also influence investor behavior. Long-term conservatives may be reallocating their portfolios in response to these macroeconomic changes. However, the sustained selling wave by long-term holders raises questions about the future trajectory of #Bitcoin price.
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