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Artificial intelligence coins are in critical corners: Beware of Wednesday
The rise in artificial intelligence coins continues before the balance sheet of Nvidia, which will be announced on Wednesday, which is the most talked about company in chip production and sales in the world recently. While many coins in this category have increased by more than 20% in the last week; NEAR, Render, AGIX, Fet and TAO stand out.
Nvidia, which joined the "Magnificent 7" with a market value of more than 3 trillion dollars, also became a determining factor for the course of both cryptocurrency and American stock markets. It was seen that Nvidia's earnings report was better than expected prevented the markets from getting worse.
And on Wednesday, Nvidia's Q2 2024 earnings report will be officially released. Expectations are for company revenue to increase by around 99% compared to the same period last year... Nvidia share value, which has increased by 160% since the beginning of the year, has increased by more than 3000% in the last 5 years.
The positive direction of the expectations in Nvidia also positively affected the coins of the cryptocurrency world touching the field of artificial intelligence. Although the small decline in Bitcoin in the last 24 hours negatively affects altcoins, it is seen that the last 1-week rises have reached serious levels in artificial intelligence coins.
Looking at the largest artificial intelligence-oriented coins in terms of market value, in the last week;
FET %62
OCEAN %61
AGIX 58%
RENDER 42%
NEAR %26
TAO 23%
GRT rose 22%.
If Nvidia also recorded at least 100% growth this quarter, it will be the 5th quarter in a row, where the company has 3-digit growth.
The high arrival of Nvidia figures could further increase the U.S. stock markets as well as artificial intelligence coins.
$FET
{spot}(FETUSDT)
$NEAR
{spot}(NEARUSDT)
$RENDER
{spot}(RENDERUSDT)
#laraxen #LaraxenFamily #Laraxenteam
WEEKLY MARKET OUTLOOK:đđ
âą Mon: Durable Goods Orders; $PDD Earnings
âą Tues: Consumer Confidence; $S Earnings
âą Wed: Fedâs Waller Speech; $NVDA $CRWD $CRM $ANF $FL $KSS Earnings
âą Thurs: Jobless Claims, Q2 GDP, Pending Home Sales; $ULTA $LULU $BBY $DG $DELL Earnings â ïž
âą Fri: PCE Inflation, Consumer Sentimentâ ïž
-On Friday in the U.S., all three major indexes rose after Powellâs comments, with the Dow Jones Industrial Average up 1.14%, while the Nasdaq Composite advanced 1.47%. The S&P 500 gained 1.15%.đ
- A gauge of global stocks traded near its record high Monday as the prospect of Federal Reserve interest rate cuts on the horizon stoked sentiment.
- The Fedâs dovish tilt also lifted the yen against the dollar, as Asian-domiciled funds added to existing short positions on the greenback.
- Powellâs keenly awaited Jackson Hole speech constitutes a turning point in the Fedâs two-year battle to slow inflation, and means officials are likely to cut the benchmark interest rate from its highest in more than two decades.
- While the worldâs largest economy is showing signs of cooling â warranting a pivot â thereâs no sign yet of an outright contraction.
-âThe time has come for policy to adjust,â the central bank leader said at Jackson Hole, Wyoming. âThe direction of travel is clear, and the timing and pace of rate cuts will depend on incoming data, the evolving outlook, and the balance of risks.â
#trading #NewsAboutCrypto #TradingShot #CryptoNewss #BTCâ $BTC
Pavel Durov is currently detained in Paris, France, for a preliminary investigation. Although he has not officially been charged, his detention is set for 96 hours, after which a judge must determine his status.
Here's more insight into the legality of his detention.
â« Garde Ă vue (Article 63 to 77)
French law allows detainment of 24 hours even without formal charges with possibility of extension for up to 144 hours.
â« Warrant of Arrest
Issued by the OFMIN under the National Directorate of the Judicial Police (DNPJ), under the umbrella of the French Ministry of Justice. The warrant is only valid if Durov sets foot in France.
â« Citizenship
Durov was gifted a French citizenship possibly under the "distinguished foreigner" process in 2021-2022, subjecting him to French law.
â« Moments Before the Arrest
The Telegram founder's jet flew from Baku, Azerbaijan, and landed at the French airport around 7:30-8:00 PM local time. Local reports say he knew he was wanted but chose to land anyway. Others suggest either French authorities directed his flight to land in its territory despite an attempt to fly south or that the jet lacked fuel to leave.
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Russia's Central Bank Moves Towards Legalizing Crypto for Qualified Investors
The Bank of Russia is considering allowing a specific group of qualified investors to trade cryptocurrencies as part of its plans to explore cross-border crypto transactions. The central bank is discussing legislative changes to create a new category of "particularly qualified investors" who would be permitted to buy and sell digital currencies.
In an interview with the Russian newspaper Izvestia, Alexey Guznov, the state secretary and deputy governor of the Bank of Russia, mentioned that while this move is under consideration, all potential risks need to be thoroughly assessed before implementation. The central bank is also open to the use of stablecoins for international trade, provided they meet certain criteria.
In addition to these developments, Russia is reportedly exploring the establishment of at least two domestic crypto exchanges. These exchanges might use the existing infrastructure of stock exchanges in Moscow and Saint Petersburg, with a focus on developing stablecoins, including those tied to the Chinese yuan and a basket of BRICS currencies.
Polygon Foundation Whale Moves $MATIC to #Binance đŠđł
A wallet linked to the #Polygon Foundation has been steadily transferring MATIC tokens to Binance. đ In the past five days alone, they've moved 15.49 million #MATIC , worth over $8 million.
This wallet still holds a significant amount of MATIC, with 13 million tokens currently staked. đ
Important Note: Remember that on September 4, there will be a 1:1 migration from MATIC to #POL . đ This means that the number of tokens will increase, but the value per token will decrease. đ
What do you think is behind this whale's activity? Are they selling to take profits, or is there something else going on? Let's discuss! DYOR! #WhaleAlert
Source: SpotOnChain
WIF Looking Good â Can We Get 2.25?
WIF was one of the biggest gainers last week, adding almost 40%. Based on the chart, it is likely we'll see a continuation of the uptrend.
Here's why:
âą WIF faced resistance at the psychological $2 mark. Actually, it's not surprising after the intense climb.
âą Afterward, WIF entered a descending channel you could interpret as a bull flag.
âą Typically, a descending channel after a pump is considered a continuation pattern. Accordingly, we should see a breakout to the top at some point.
If this breakout happens, the price should quickly rise toward the level of 2.25 (calculated based on the previous pole flag).
Therefore, you should pay close attention to the upper trendline.
$WIF #Dogwithhat
#Bitcoin sideways price action is bearish?
Before each big move, BTC has typically consolidated within a range.
In the past, these consolidations have lasted anywhere from 8 to 30 weeks.
Right now, we're 25 weeks into the current consolidation phase.
While it's impossible to say how long this will last, one thing is clear- we're still in a bull run.
If this pattern repeats, the breakout could be explosive.
Dogecoin To Rise as High as $10, Hereâs When
Analyst Predicts DOGEâs Path to $10
Dogecoin (DOGE) investors have been growing wary of the meme coinâs current price rut. While most assets recorded a triple-digit surge throughout the past year, DOGE saw an uptick of just 72%.
The asset was trading at $0.1085 at press time, with a 1.74% drop over the past 24 hours. Despite this, investors were given hope after an analyst outlined DOGEâs path to $10.
According to an analyst by Ăima James Potts, DOGE is on its way to the top. Recent changes in the tokenâs price suggest that DOGE is approaching the bottom.
The crossing of particular technical indicators has traditionally predicted the start of a price spike in the following weeks.
In the present cycle, this pattern is anticipated to recur, possibly as early as the first week of September.
Looking Back At Dogecoinâs Older Patterns
The expert has also seen a cyclical trend in Dogecoinâs price hikes. The meme coin has seen significant price increases every three years. In the first cycle, the price of DOGE increased 1.5 times from the beginning of 2016.
The price was 2.5 times higher at the end of the second cycle, which was in 2020. If this pattern continues, the analyst projects that the meme coin will close in 2024 at almost $0.31, a 3.5-fold increase from its initial price of $0.09051.
Future Projections for Dogecoin
âBased on historical patterns, DOGECOIN could experience some of its most substantial price increases in 2025. Similar to previous cycles, I anticipate a significant surge in the fourth year (2025). In the first cycle (2017), Dogecoin saw a 9000% increase, and in the second (2021), it rose by 18,000%. If this trend continues, we may witness an equally impressive, if not larger, price appreciation in the third cycle.â
While reaching $10 isnât easy for the asset, Changelly revealed that DOGE will take time to reach this milestone. The meme coin will achieve this level only in 2040.
#doge⥠#TelegramCEO #CryptoMarketMoves #BTCâ #BlackRockETHOptions
đ **Crypto News Flash: Understanding Token Generation Events (TGEs)!** đ
- **What is a TGE?**
A Token Generation Event (TGE) is when a project's digital tokens become available for purchase, allowing early investors to support the project from the start. These tokens are often utility tokens used for transaction fees or unlocking features on a blockchain platform.
- **Market Impact:**
The initial token supply during a TGE can influence prices. Well-managed supplies keep prices stable, while oversupply can cause drops. Gradual release of tokens to team and advisors ensures long-term project commitment.
- **TGE vs. ICO:**
- **ICO:** Early-stage fundraising before project completion.
- **TGE:** Token release for trading and use, indicating project maturity.
- **Advantages:**
TGEs promote decentralization, build strong communities, and ensure regulatory compliance. They distribute tokens widely, fostering innovation and long-term success.
- **Upcoming TGEs 2024:**
- **Orderly Network (ORDER):** August 26
- **Bondex (BDXN):** September
đŹ **What are your thoughts on TGEs vs. ICOs? Share in the comments!** đŹ
Today's update on $ETH
The price is still encountering resistance at $2,800, currently trading at $2,735.58. A minor correction is expected, followed by a potential break above this level, with my initial target of $3,000 still in play. A successful breakout could propel #ETHđ„đ„đ„đ„ to new highs, with further upside potential beyond $3,000.
#Crypto #Alts Conventional Technical Analysis Wisdom Suggests That Markets Rarely Move In Straight Lines, Instead Exhibiting Complex Patterns Like Higher Highs And Higher Lows (Uptrend), Lower Highs And Lower Lows (Downtrend), Consolidations (Sideways Movement), And Breakouts (Sudden Price Movements). Your Observation About The Altcoin Market Cap Chart Is Insightful, Noting The Consolidation From April To October Last Year Led To A Breakout And Significant Gains. Similarly, The Current Descending Broadening Wedge Pattern Is Comparable To A Bullish Pennant, Indicating A Potential Breakout Soon. If Successful, This Breakout Could Propel The Entire Altcoin Market Towards New All-Time Highs.