Main Takeaways The Binance VIP Trader Program welcomes users who meet our requirements for Spot, Futures, or OTC trading volume, and daily BNB holding.Users eligible for the Binance VIP Trader Program enjoy a range of benefits reserved for Binance VIPs, such as tier-based fee discounts, personalized limits, special invitations, and more.Trader VIPs are eligible to join promotions and potentially win from significant prize pools.The Binance VIP Trader Program encapsulates Spot, Futures and OTC trading, and is open to users who meet a set of criteria based on their trading volumes and BNB holdings. These requirements ensure that our VIP Trader Program can maintain its exclusivity while providing beneficial services to our most active traders.How to Become a Trader VIP?To become a Trader VIP, users must meet Spot, Futures or OTC trading volume requirements in the last 30 days AND satisfy the minimum count of at least 25 BNB daily average holdings requirement. You can view the trading volume and BNB holding requirements for each VIP tier here.Spot tradersUsers must have a trading volume of 1,000,000 USD or more and hold at least 25 BNB on a daily average. Spot trading volume under the VIP Program includes Spot, Margin, and Binance Convert. Futures tradersUsers must have a trading volume of 15,000,000 USD or more and hold at least 25 BNB on a daily average. Futures trading volume under the VIP Program includes USDⓈ-M Futures and Coin-M Futures.OTC tradersFor OTC traders, users must have a trading volume of 200,000 USD or more and hold at least 25 BNB on a daily average. OTC volume under the VIP Program includes Binance OTC Spot Block Trading and Algo Orders.What Are the Benefits of Becoming a Trader VIP?Reduced transaction costs: As part of the VIP program, users gain access to a tiered fee structure offering discounted rates. The higher the VIP level, the more reduced the transaction fees. Holding BNB allows for additional savings. For the full list of VIP tiers and trading fees, please refer to our fees & transactions overview. Personalized trading parameters: We offer scalable trading constraints, including spot and futures rate limits, augmented API restrictions, withdrawals limit, sub-accounts, and more.Around-the-clock priority assistance: Enjoy priority support available 24/7, supplemented by tailored Key Account Coverage aligned with your VIP level.Loyalty rewards: Our VIP Loyalty Program encourages consistent engagement with exclusive VIP tier promotions.Exclusive event invitations and VIP swag: VIP members get special invitations to VIP-exclusive socials, industry happenings and promotional events.VIP Portal: Binance VIP’s One-Stop Shop Joining the Binance VIP Program also gives you access to the VIP Portal, an exclusive one-stop shop to streamline all your trading needs and manage your digital assets efficiently, with custom dashboards, advanced analytics, data & reporting, and more. You can also check your last 30-day trading volume and BNB holding balance from Trading Fees.When Will My Binance VIP Level Be Updated?Your VIP status will undergo an automatic update daily at 00:00 (UTC). In case of simultaneous enrollment in multiple VIP sub-programs, your VIP status will correspond to the highest level attained. Immediate access to VIP benefits is granted and you’ll see your refreshed VIP status displayed before 05:00 (UTC).How Is the Daily Average BNB Holding Balance Calculated?The Trader VIP sub-program requires your preceding day’s mean BNB holdings to hit the minimum count of at least 25 BNB (daily average from UTC 00:00 to 23:59). The Total Daily Average BNB Balance includes: Spot, Margin, Binance Crypto Loans Collateral, Sub-accounts, Simple Earn, BNB Vault, Futures Wallet, Binance Funding Wallet, Launchpool, and DeFi Staking Account balances. Binance computes your daily BNB balance using the previous day’s average BNB balance. As an example, depositing 25 BNB at 03:00 UTC on Feb 1, 2024, with 0 BNB initially present, will reflect an average BNB balance of 21.875 BNB on Feb 2, 2024. For more information, please refer to the FAQ.Not a Binance User Yet?If you don’t have a Binance account and/or have any further queries about the VIP Trader Program, we’re here to help. Please contact us via this form.Special OfferAs a welcome offer, the first 10 eligible Binance users who contact us via our contact form will receive a VIP tier upgrade valid for one month. Please add the promo code ‘BINANCEVIP1’ in the message body when submitting your details via the contact form. This offer is only available to non-VIP users on a first-come, first-served basis.For a more detailed walkthrough on how to become a Binance VIP, please refer to our dedicated FAQ.Further Reading[FAQ] How to Become a Binance VIPBinance Trading FeesBinance VIP & Institutional ServicesFollow Binance VIP on X at @BinanceVIP and LinkedInRisk Warning: Disclaimer: Digital asset prices are subject to high market risk and price volatility. The value of your investment may go down or up, and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance is not liable for any losses you may incur. Past performance is not a reliable predictor of future performance. You should only invest in products you are familiar with and where you understand the risks. You should carefully consider your investment experience, financial situation, investment objectives and risk tolerance and consult an independent financial adviser prior to making any investment. This material should not be construed as financial advice. For more information, see our Terms of Use and Risk Warning.

TL;DR
Cryptocurrency trading, or the buying and selling of digital assets like Bitcoin and Ethereum, has emerged as a dynamic and potentially lucrative endeavor.For beginners, it’s essential to understand what makes cryptocurrency unique, familiarize yourself with common trading concepts such as order books, trading pairs, and order types, and become comfortable with technical analysis charts and tools.This comprehensive guide will teach beginners all this foundational knowledge and prepare you to embark on your crypto trading journey. 
What Is Cryptocurrency Trading?  
Cryptocurrency trading, or the buying and selling of digital assets like Bitcoin (BTC) and Ethereum (ETH), has emerged as a dynamic and potentially lucrative endeavor. As cryptocurrencies continue to captivate global interest and more institutional investors join the sector, cryptocurrency trading is gaining increasing popularity.
Cryptocurrency trading often aims to capitalize on price fluctuations. Traders aim to buy these cryptocurrencies when prices are low and sell when prices surge, effectively profiting from the market's volatility. This fast-paced landscape presents both opportunities and challenges for beginners.
For those intrigued by the prospect of engaging in cryptocurrency trading, a comprehensive understanding of the market's intricacies is paramount. This guide aims to equip beginners with the foundational knowledge necessary to navigate this potentially rewarding landscape.
What Are Cryptocurrencies? 
Cryptocurrencies have taken the financial world by storm, redefining how we perceive money and transactions. 
Cryptocurrencies, like Bitcoin and Ethereum, are digital currencies that employ an innovative technology known as blockchain to ensure their security and integrity.
Unlike regular money from banks, cryptocurrencies aren't controlled by any one big company or government. Instead, cryptocurrencies are like public digital record books that anyone around the world can see and keep a copy of. 
As a result, cryptocurrencies are global, secure, and transparent. You can generally send and receive these coins to anyone in the world, at a faster speed without extra fees or paperwork required by banks. 
People often say that cryptocurrencies are decentralized, which is another way of saying that they are not controlled by a centralized entity. Essentially, you own your own digital wallet that gives you more freedom and control over your money. 
How to Start Trading Cryptocurrency 
Getting started with cryptocurrency trading requires a thoughtful approach and careful preparation. 
Before diving into the world of cryptocurrency trading, it's crucial to invest time in learning. You can rely on Binance Academy’s educational courses to understand the basic trading concepts and specific cryptocurrencies you're interested in trading. 
Selecting a reliable cryptocurrency exchange is critical. A good guideline is to opt for an exchange with a proven long-term track record, an excellent reputation, strong security protocols, and responsive customer support.
For newcomers, beginning with a centralized exchange is recommended. As you gain more experience in cryptocurrency trading, you can explore decentralized exchanges at a later stage."
Once you've chosen an exchange, the next step is to create your account. This usually involves providing your email, setting a password, and agreeing to terms. Sometimes, exchanges require identity verification to comply with regulatory standards. You would need to submit a government-issued ID, proof of residence, and any other documents to complete setting up your account. 
A Beginner's Guide to Cryptocurrency Trading
After you create an account, you can deposit fiat currency into your account. Most centralized exchanges allow users to deposit fiat via bank transfers, bank wires, or other common money transfer methods. 
If you happen to own some crypto already, you can deposit it into your exchange account. Remember to always send your coins to the associated address: send Bitcoin to your Bitcoin address, ether to your Ethereum address, and so on. Sending crypto to the wrong addresses could result in losses.
Now you’re set up for trading crypto, let’s quickly go through a few essential trading concepts for beginners. 
1. Trading pairs 
There are two main types of trading pairs: crypto-to-crypto trading pairs and crypto-to-fiat trading pairs. 
Crypto-to-crypto trading pairs involve two different cryptocurrencies, such as the ETH/BTC trading pair. If the current value of one Ethereum (ETH) is 0.05 Bitcoin (BTC), this means you would need to exchange 0.05 BTC to acquire one ETH. The value of ETH is expressed in terms of BTC in this pairing.
Crypto-to-fiat trading pairs involve a cryptocurrency and a traditional fiat currency, such as the BTC/USD trading pair.  If the current value of one Bitcoin (BTC) is $40,000 in US dollars (USD), this indicates that one Bitcoin is equivalent to $40,000. 
2. Order books 
An order book is a real-time, dynamic list of buy and sell orders placed by traders on a cryptocurrency exchange. It provides a snapshot of the supply and demand for a specific cryptocurrency at different price levels. 
An order book is split into two main sections: the buy orders (bids) and the sell orders (asks). Buy orders list the orders from traders who want to buy the cryptocurrency at a certain price, organized from the highest bid price to the lowest. 
Sell orders display the orders from traders who want to sell the cryptocurrency at a particular price, organized from the lowest ask price to the highest.
3. Market orders 
A market order is the simplest type of order, in which you buy or sell crypto immediately at the best available price in the market. Let's say the current highest bid, or buy order, for one bitcoin is 35,000 dollars, while the lowest ask, or sell order, is 35,010 dollars in the order book. If you place a market order to buy bitcoins, your order would be matched with the lowest ask, which is 35,010 dollars. If you place a market order to sell bitcoin, your order would be matched with the highest bid at 35,000 dollars.
4. Limit orders 
A limit order is an order to buy or sell a crypto at a specific price or better. For example, if you want to buy one bitcoin for $35,000 or less, you can set a buy limit order at $35,000. If the price drops to $35,000 or less, your limit order will be executed and you'll purchase bitcoin at that price. But if the price never drops to $35,000, your order won't be executed.
How To Use Crypto Wallets
A cryptocurrency wallet is a digital tool that enables you to store, send, and receive digital assets. 
For beginners, a software wallet, often referred to as a hot wallet, is generally recommended. This type of wallet is user-friendly and easily accessible through desktop or mobile applications. It also offers a familiar and convenient user experience, and usually comes with customer support. 
You can use hot wallets from crypto exchanges or download popular ones in the market, such as MetaMask. A hot wallet offers numerous benefits compared to your exchange account, including being able to do peer-to-peer transactions (without relying on an exchange) and exploring various decentralized finance (DeFi) services. 
When using crypto wallets, it's essential to follow good security practices such as enabling two-factor authentication (2FA), using strong and unique passwords, and keeping backups of your recovery seed or private keys in a safe place. 
As you become more comfortable with cryptocurrency, you can explore cold wallets that offer a different set of advantages and limitations. 
Which Cryptocurrency You Should Buy?
As a beginner in the world of cryptocurrency trading, deciding which cryptocurrencies to buy can be daunting. Here are some tips. 
Most people start with well-known and established cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH). These have a proven track record and are less risky options for beginners. 
If you're considering exploring lesser-known cryptocurrencies, it's crucial to fully comprehend the associated risks, including the possibility of losing your entire investment. 
Keep in mind that in the world of investing, risks and potential returns often go hand in hand. Taking on higher risks might lead to greater potential returns, although it also raises the likelihood of losing your invested capital.
Starting small is good for beginners, as this allows you to learn and gain experience without risking too much capital. 
Lastly, a common mistake beginners should avoid is FOMO (Fear of Missing Out): Don’t rush into buying a cryptocurrency just because it's surging in price. 
Different Types of Cryptocurrency Trading
There are many crypto trading strategies that you can employ, each with its own set of risks and rewards. Let’s go through some of the most popular crypto trading approaches. 
Day trading
Day trading is a strategy that involves entering and exiting positions within the same day. Because cryptocurrency markets are open 24/7, day trading in cryptocurrency tends to refer to a trading style where the trader enters and exits positions within 24 hours.
In day trading, you’ll often rely on technical analysis to determine which assets to trade. Because profits in such a short period can be minimal, you may opt to trade across a wide range of assets to try and maximize your returns. That said, some might exclusively trade the same pair for years.
This style is a very active trading strategy. It can be highly profitable, but it carries with it a significant amount of risk. 
Swing trading
In swing trading, you’re still trying to profit off market trends, but the time horizon is longer – positions are typically held anywhere from a couple of days to a couple of months. 
Your goal will be to identify an asset that looks undervalued and is likely to increase in value. You would purchase this asset, then sell it when the price rises to generate a profit. Or you can try to find overvalued assets that are likely to decrease in value. Then, you could sell some of them at a high price, hoping to buy them back for a lower price.
Swing trading tends to be a more beginner-friendly strategy, mainly because it doesn’t come with the stress of fast-paced day trading. 
Position trading (trend trading)
Position trading is a long-term strategy. Traders purchase assets to hold for extended periods (generally measured in months). Their goal is to make a profit by selling those assets at a higher price in the future.
Position traders are concerned with trends that can be observed over extended periods – they’ll try to profit from the overall market direction. Swing traders, on the other hand, typically seek to predict “swings” in the market that don’t necessarily correlate with the broader trend.
Like swing trading, position trading is an ideal strategy for beginners. Once again, the long time horizon gives them ample opportunity to deliberate on their decisions.
Scalping
Of all of the trading strategies discussed so far, scalping takes place across the smallest time frames. Scalpers attempt to game small fluctuations in price, often entering and exiting positions within minutes (or even seconds). 
In most cases, they’ll use technical analysis to try and predict price movements and exploit bid-ask spreads or other inefficiencies to make a profit. Due to the short time frames, scalping usually has thin profit margins. Scalpers generally trade large amounts of assets in order to achieve sizable profits.  
Scalping is generally more suitable for experienced traders. For beginner traders who know what they’re doing, however, identifying the right patterns and taking advantage of short-term fluctuations can be highly profitable.
HODLing 
Long-term investors, also known as "HODLers," aim to benefit from the overall growth of the cryptocurrency market. They buy and hold cryptocurrencies for an extended period, often months or years. 
HODLing is ideal for those who believe in the long-term potential of specific cryptocurrencies such as Bitcoin or Ethereum and are willing to weather short-term price fluctuations. While this strategy requires patience, it may provide substantial returns over time. 
Technical Analysis and Chart Reading in Cryptocurrency Trading
Technical analysis is the art of interpreting price charts, recognizing patterns, and harnessing indicators to anticipate potential price movements. They are useful analytical tools that can greatly enhance your ability to make well-informed trading decisions.
1. What is a candlestick chart?
A candlestick chart is a graphical representation of the price of an asset for a given timeframe. It’s made up of candlesticks, each representing the same amount of time. 
For example, a 1-hour chart shows candlesticks that each represent a period of one hour. A 1-day chart shows candlesticks that each represent a period of one day, and so on.
Daily chart of Bitcoin. Each candlestick represents one day of trading.
A candlestick is made up of four data points: the Open, High, Low, and Close (also referred to as the OHLC values). The Open and Close are the first and last recorded price for the given timeframe, while the Low and High are the lowest and highest recorded price, respectively. 
2. What is a candlestick chart pattern?
A candlestick chart pattern is a visual representation of price movements in the form of candlesticks. It provides insights into the open, close, high, and low prices of a cryptocurrency or financial asset over a specific time period. 
A candlestick consists of two main parts: the body and the wicks (also known as shadows). The body represents the price range between the opening and closing prices of the trading session. 
If the closing price is higher than the opening price, the body is typically filled or colored in, often with green or white, to indicate a bullish session. Conversely, if the opening price is higher than the closing price, the body is empty or colored in red or black, signaling a bearish session.
The wicks, which extend from the top and bottom of the body, represent the price range between the highest and lowest prices reached during the trading session. The upper wick extends from the top of the body and indicates the session's highest price, while the lower wick extends from the bottom of the body and signifies the lowest price.
Candlestick charts offer valuable insights into market sentiment and price trends. Traders use patterns formed by multiple candlesticks to identify potential trend reversals or continuations. Common patterns include "Doji," "Hammer," "Shooting Star," and "Engulfing," each with its own implications for price movements.
3. What is a trend line?
Trend lines are a widely used tool by both traders and technical analysts. They are lines that connect certain data points on a chart. 
The main idea behind drawing trend lines is to visualize certain aspects of the price action. This way, traders can identify the overall trend and market structure.

The price of Bitcoin touching a trend line multiple times, indicating an uptrend.
Some traders may only use trend lines to get a better understanding of the market structure. Others may use them to create actionable trade ideas based on how the trend lines interact with the price.
Trend lines can be applied to a chart showing virtually any time frame. However, as with any other market analysis tool, trend lines on higher time frames tend to be more reliable than trend lines on lower time frames. 
Another aspect to consider here is the strength of a trend line. The conventional definition of a trend line defines that it has to touch the price at least two or three times to become valid. Typically, the more times the price has touched (tested) a trend line, the more reliable it may be considered.
4. What are support and resistance?
Support means a level where the price finds a “floor.” In other words, a support level is an area of significant demand, where buyers step in and push the price up.
Resistance means a level where the price finds a “ceiling.” A resistance level is an area of significant supply, where sellers step in and push the price down.

Support level (red) is tested and broken, turning into resistance.
Technical indicators, such as trend lines, moving averages, Bollinger Bands, Ichimoku Clouds, and Fibonacci Retracement can also suggest potential support and resistance levels. 
Fundamental Analysis: Determining Intrinsic Value of Cryptocurrencies  
Fundamental analysis involves a deep dive into the intrinsic value of a cryptocurrency project, examining its technology, team, adoption potential, and overall viability. 
Generally, you should try to understand the underlying technology of a cryptocurrency project. Delve into its blockchain architecture, consensus mechanism, and scalability. A robust and innovative technology can indicate a project's ability to solve real-world problems and gain adoption.
You should also research the team behind the cryptocurrency project. Evaluate their expertise, experience, and track record. A talented and experienced team increases the likelihood of successful project execution.
A cryptocurrency’s tokenomics are of paramount importance, as they determine the cryptocurrency’s total supply, distribution, and its incentive mechanisms. These are factors that often have a direct impact on the cryptocurrency’s price movements. 
Fundamental analysts also look into the project's adoption potential in the real world. Factors such as partnerships, use cases, community engagement, and market demand could also influence prices. 
Fundamental analysis equips yourself with the tools to assess a cryptocurrency project's underlying value. This strategic approach enables you to navigate the complex cryptocurrency landscape with a long-term perspective, making trading decisions that align with a project's viability and potential.
Risk Management in Cryptocurrency Trading
Effective risk management is essential for your crypto trading success. 
Risk management refers to predicting and identifying the financial risks involved with your investments, and minimizing them by employing a set of strategies. 
There are numerous risks in cryptocurrency trading, including regulatory risk, market risk, operational risk, liquidity risk, and security risk. Fortunately, there are risk management strategies you can employ to help keep your risk exposure at a reasonable level. Let’s look at a few popular strategies.  
1. Diversification
Diversifying your portfolio is one of the most popular fundamental tools to reduce your overall investment risk. You can hold a variety of different coins and tokens, keep each position at an appropriate size and constantly rebalance the portfolio, so you won't be too heavily invested in any one asset. This can minimize the chance of oversized losses. 
2. Hedging 
You can also hedge your holdings, which means taking a position in a related asset that is expected to move in the opposite direction of the primary position. The purpose is to offset potential losses. 
If you own $10,000 worth of Bitcoin and want to hedge against a possible decrease in its price, you could buy a put option for a premium of $500 that gives you the right to sell bitcoin at $50,000 at a future date. If Bitcoin's price falls to $40,000, you can exercise your option and sell your bitcoin for $50,000, significantly reducing your losses. 
3. Use advanced order types 
You can utilize advanced order types to lock in profits or protect yourself from losses. For instance, stop-loss orders allow traders to limit losses when a trade goes wrong. Take-profit orders ensure that you lock in profits when a trade goes well. 
4. Follow the 1% rule
Another strategy you can follow is the 1% rule, where you don’t risk any amount more than 1% of your total capital on a single position. For instance, if you have $10,000 to invest and want to adhere to the 1% rule, you could buy $10,000 of Bitcoin and set a stop-loss order to sell at $9,900. This way, you would limit your losses to 1% of your total investment capital.
5. Have an exit strategy
It’s always a good idea to plan for the worst. So having an exit strategy is an essential way to manage your risks. It's easy for us to get caught up in a bull market and its euphoria, but having a plan to exit your position can help lock in gains. 
One way is to use limit orders to take profit or place a floor on maximum loss that you can stand. As a general rule of thumb, once you have your exit plan, you should stick to it. 
6. Do Your Own Research (DYOR) 
It's essential to emphasize the importance of "Do Your Own Research!" This principle is so vital within the crypto community that it's commonly referred to by its acronym, D-Y-O-R. Before investing in a token, coin, project, or other asset, you must do your due diligence. It's key that you assess essential information about an asset to fully understand its risks. If you want to invest in an ICO, ensure you read the white paper and understand the tokenomics, roadmap, and communities before you make the jump!
In summary, investing in crypto can be risky, but there are many ways you can manage those risks effectively. 

Closing Thoughts 
Congratulations on completing this comprehensive guide to cryptocurrency trading for beginners! You should be better prepared to begin your crypto trading journey, equipped with essential knowledge and tools to navigate this exciting landscape.
As you venture into the realm of cryptocurrency trading, remember that learning is an ongoing process. Markets can be unpredictable, and cryptocurrency markets are particularly volatile. With continued learning, however, you are well on your way to become a better crypto trader with each practical trading experience you gain. 
Always prioritize research, education, and risk management in your trading journey. Stay informed about the latest developments in the crypto space, continue refining your skills, and adapt your strategies as needed. 

Disclaimer and Risk Warning: This content is presented to you on an “as is” basis for general information and educational purposes only, without representation or warranty of any kind. It should not be construed as financial, legal or other professional advice, nor is it intended to recommend the purchase of any specific product or service. You should seek your own advice from appropriate professional advisors. Where the article is contributed by a third party contributor, please note that those views expressed belong to the third party contributor, and do not necessarily reflect those of Binance Academy. Please read our full disclaimer here for further details. Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance Academy is not liable for any losses you may incur. This material should not be construed as financial, legal or other professional advice. For more information, see our Terms of Use and Risk Warning.

Chinese Bitcoin miners are moving to Ethiopia because it has low energy costs and good laws, which is beneficial for the business as a whole.A new center for their activities has emerged on the Horn of Africa: Ethiopia, where Chinese Bitcoin miners have set their sights. This change in focus is a response to tighter restrictions and higher power prices in other regions of the globe. Ethiopia has recently emerged as an appealing location because of its cheap energy prices and more friendly government policies.Ethiopia is attractive for more than just its cheap electricity; the government is warming up to the cryptocurrency business by being receptive to Bitcoin mining, even if trading cryptocurrencies is illegal in the country. Chinese participation in the $4.8 billion dam project highlights the country’s promise as a center for crypto-mining operations that provide cheap electricity.A total of 21 Bitcoin miners, the majority of whom are Chinese, have struck arrangements with Ethiopia’s state power monopoly, thanks to the country’s cheap energy. Ethiopia presents a unique opportunity for companies seeking to preserve their competitive advantage in Bitcoin mining, especially when considered against the background of worldwide issues confronting the sector, such as power shortages and environmental concerns.But there are dangers associated with the move towards Ethiopia. When the energy demands of Bitcoin miners start to outstrip local requirements, public dissatisfaction and governmental crackdowns ensue, as seen in Iran and Kazakhstan nations that were first accepting of mining may swiftly reverse their attitude. The growth of Bitcoin mining is a sensitive topic in Ethiopia since roughly half of the population does not have access to energy.Chinese Bitcoin miners, fleeing economic and political upheaval in other regions, have flocked to the Grand Ethiopian Renaissance Dam, the biggest dam in Africa. It is evident that the nation is becoming more prominent in the cryptocurrency mining business since there are shipping containers nearby that are full of high-performance computer equipment.

We are over a month into 2024 and the crypto market has already set its sights on higher gains. With a market capitalization of over $1.3 trillion, the sector has been making rapid strides and has attracted many institutional buyers.

The reasons behind the sector’s uptrend include the excitement around spot Bitcoin exchange-traded funds (ETFs). These financial products boost regulated access to cryptocurrencies like Bitcoin without requiring one to hold the token. 

In January 2024, US regulators approved the launch of 11 funds after much deliberation on the legal aspects of BTC ETFs. As expected, the ETFs took the market by storm and posted record investor inflows.

Another reason that analysts believe has led to the surge of the crypto market is the rising interest in AI-led top crypto coins. The AI blockchain market is pegged to grow to over $980 million by 2030 and can open up several opportunities for innovators. The convergence of AI and blockchain helps cryptocurrencies offer enhanced transparency and speed of transactions. 

If you look at the current market trends, AI-centric altcoins like InQubeta (QUBE), Render Network (RNDR), Injective (INJ), SingularityNet (AGIX) and Fetch.ai (FET) are among the top performers.

1. InQubeta: Helping AI startups with Funding and Marketing

InQubeta has been designed as a fuss-free crowdfunding service that takes worries off startups’ plates and enables them to focus on innovation. Its native cryptocurrency, the QUBE token, is the mode of payment and the governance token. 

The token has left the crypto community impressed with its presale success. Its cryptocurrency ICO has so far raised over $8.9 million.

The number of QUBE tokens is capped at 1.5 billion and 65% of this supply is meant for public sales. The remaining is plowed back into the platform to pay for marketing, legal fees, maintaining liquidity, and rewards. 

InQubeta supports its ecosystem growth with facilities like staking which ensures rich rewards for token holders and increases liquidity. If a crypto user stakes a token, the owner will earn passive income for as long as the asset stays locked in the liquidity pool. InQubeta gives out staking rewards from a staking pool that’s funded by tax collections.

InQubeta is among the good cryptos to buy because of how it keeps your returns from plunging even in volatile markets. The QUBE token is built on a deflationary model which reduces the asset’s supply under adverse conditions like inflation. 

With high demand chasing a low supply, the asset prices don’t fluctuate and stay stable. The mechanism drives up the value of cryptocurrency even as other asset categories might be trading in the red. 

If the supply rises during such times, it’s reduced again with the token burn mechanism which destroys extra tokens. The mechanism is also used for reining in internal inflation which commonly occurs when higher tax proceeds can push the supply higher. 

To avoid internal inflation, 1% of the tax collections from every transaction is burned. The rest is used for rewards, marketing campaigns, and liquidity pools.  

All decisions regarding the protocol or new additions to it are made by community members who are given special voting privileges. Before a protocol upgrade or a suggested change is implemented, it’s put to a vote. Here, token holders use their voting rights to keep irrelevant changes away. 

The startups approaching InQubeta for fundraising are carefully selected through a screening process. The mechanism helps in checking how well a startup is aligned with the platform’s vision. 

These startups connect with investors through an NFT portal which even allows fractional investment. The NFTs traded at the marketplace are tokenized versions of startups’ projects and their rewards and are bought with QUBE tokens.

Once an enterprise has secured funding for an AI project, it can explore services on InQubeta to scale its business. If they would like to learn more about the AI industry and its challenges, they can interact with veterans from the field using the platform’s guidance support. Startups can find mentors to guide them along their growth journey and learn from their insights.

The platform also has a service to guide entrepreneurs in legal and financial-related problems. By consulting a group of experienced advisors, they can navigate their way through such challenges and get their business back on track.

There’s help available for startups struggling with brand outreach as well. They can grow their network by interacting with professionals from varied fields while spreading the word about their projects. By leveraging InQubeta’s social media presence, startups can let more people know how they are driving impact with AI.

Join InQubeta Presale

2. Render Network’s RNDR usage rises in Q4

The Render Network is a decentralized platform connecting artists with rendered 3D media. Its native token RNDR is used for paying for GPU rendering services. It empowers artists to scale their GPU rendering network. 

This allows the artists to meet the rising demand for advanced GPU nodes globally. The platform also facilitates network scalability so that 3D rendering services can be widely accessible.

The platform hit the headlines after it unlocked a new achievement in terms of RNDR usage which soared in the fourth quarter of 2023. In Q4, 1,074,045 units of RNDR tokens were used – almost twice that of Q3’s 549,750 units. The surge was led by Apple Vision Pro and Sphere which highlight how Render Network can be used for immersive rendering jobs. 

In terms of year-on-year growth, the platform rendered 943,036 more images in the fourth quarter of 2023 than in the same period in 2022. In Q4 of 2023 and 2022, the Render Network had rendered 3,026,317 and 2,083,781 frames, respectively.

3. Injective-powered Exotic Markets goes live on mainnet

Injective is a Layer 1 blockchain that facilitates the deployment of DeFi-centric dApps. Its native token INJ is used for all transactions. These transactions are also confirmed instantly by the Tendermint proof-of-stake protocol. 

The dApps powered by Injective are secured by a network of validator nodes spread globally. There are a range of features available for customizing dAPPs. These features include liquidity support and plug-and-play modules like an on-chain derivatives order book. 

Injective regularly features on developers’ top picks due its interoperability. Developers can transfer Web 3.0 data and assets between blockchains for any Injective-based dApp. All such dApps can access Layer 1 networks for seamless communication. 

Injective’s journey as a top crypto to invest in was facilitated by its zest for exploring new opportunities. Its recent initiatives included the mainnet launch of Exotic Markets, an option and derivatives infrastructure powered by Injective blockchain.

Injective remains a hot bet for experts who have predicted that it might witness a price breakout rally soon. 

4. Singularity.Net to co-host ‘Beneficial AGI Summit 2024’ in Panama City

Singularity.Net is among the best altcoins available in the market today and it helps in creating and monetizing AI-based services. Some of its popular features include an AI publisher and marketplace. Here, developers can use algorithms to create, edit, manage, and sell their AI services. 

Another cutting-edge feature of the platform is the Domain-Specific language which is a self-organizing network comprising AI agents. Crypto users can outsource their work to these agents for a range of tasks like payments, exchanging data, and other AI functions. 

To avail of these services or any other transactional purpose, crypto users will have to use Singularity.Net’s native token AGIX.

The platform has been in the news due to the ‘Beneficial AGI Summit 2024’ that it will be co-hosting and is slated to be held from February 27 to March 1, 2024. Though the summit is being held in Panama City those interested can attend it virtually too. The summit will bring together different stakeholders from the AI sector to shed light on the emergence of beneficial AGI.

5. Students use Fetch.ai to create job hunting portal

Fetch.ai is among the new altcoins that are making AI-based tools more accessible for developers. Using the platform, developers can create scalable dApps and content creators can monetize their AI-based services. Its native token AGI comes in handy for settling all payments on the network. 

The open-source platform offers ‘AI Agents’ which can be leveraged to turn legacy systems into AI-ready ones. These AI agents are like modular building blocks for decentralized systems and can be programmed to perform certain tasks. The best part is that the switch will not involve any messing with the existing APIs. 

The platform was recently in the news after a group of students from the Indian Institute of Technology-Bombay (IIT-B) created a solution for job hunting using Fetch.AI. Called ‘Job Mitra’, the solution uses AI Agents to help find jobs tailored to a candidate’s skills. The solution is trained on 2,400 resumes and uses a K-nearest approach neighbor. The solution won the second prize at the institute’s TechFest. 

Conclusion

While building a portfolio, most crypto users are concerned about which crypto to buy today for the long term. It’s a valid concern that pushes them into doing a deep dive and evaluating their options. If you ask analysts, their top bets are AI-led altcoins like InQubeta, Render Network, Injective, SingularityNet, and Fetch.ai. 

These crypto projects represent the fast-paced world of AI and how it’s making inroads into the world of DeFi. 

If Injective and Fetch.ai are developer-friendly platforms for creating dApps, the RenderNetwork is catalyzing the decentralized GPU services market. There are other leading coins like InQubeta which is laying the foundation of the future of AI and is likely to be among the top ICOs of the year.

A section of market experts have also claimed that these tokens are in line for a breakout in the coming months.

While these cryptocurrencies hold a lot of promise, crypto users are advised to always research a token before making a purchase. By doing their due diligence, users can avoid potential risks associated with a token and make financially responsible decisions.

Visit InQubeta Presale 

The global financial markets enter into an eventfully packed week with high expectations of relief and rally. However, the digital assets market is also getting ready for a tough week ahead after dealing with the approval of the spot Bitcoin Exchange-Traded Fund (ETF).
What’s happening this week?The Federal Reserve is expected to leave interest rates unchanged during its meeting on January 30-31. Crypto market Investors will closely analyze statements and clues regarding the timing of potential rate cuts after a period of aggressive tightening.
The US Treasury’s quarterly refunding announcements will be another must watch event for the market. This will come in when funding totals are due on January 29 and maturity breakdowns on January 31. The concerns over US government debt issuance have always influenced market dynamics.
The US non-farm payrolls report for January will be released on Friday, February 2, 2024. Expectations are for the US to have created 162,000 new jobs in January. It is comparatively less than 216,000 in the previous month. This might hinder some market positions.
Corporate earnings reports from major companies will come out this week. It will include big organizations like Microsoft, Alphabet, Advanced Micro Devices (Tuesday), Boeing, Qualcomm (Wednesday), Apple, Amazon, Meta Platforms (Thursday), Exxon Mobil, and Chevron (Friday). Tech giants’ earnings will be particularly influential on the stock market.
Crypto market to surge?
According to experts, Investors will look for market reactions to central bank meetings, economic data releases, and corporate earnings. However, there is a consensus built for unchanged interest rates in the first Federal Reserve meeting of 2024.
It is important to note that anticipation of a decision in March reveals a shift in sentiment. There is a 47% probability suggesting a potential interest rate cut by 25 basis points.
Crypto and Bitcoin market participants will closely monitor interest rate decisions. It is expected that it can impact the markets. However, the March interest rate decision will become crucial as it aligns with the upcoming Bitcoin halving in April 2024. Any rate cut before the halving could influence Bitcoin prices.
Bitcoin recorded a major price drop after the approval of spot Bitcoin ETF in the US. BTC price dropped by more than 20% since the trading launch of these ETFs. Bitcoin is trading at an average price of $42,080, at the press time.
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