In the run-up to Nvidia's Q2 results, AI tokens have seen massive weekly rises
After FET surged over 60%, a number of AI tokens took the lead in the cryptocurrency market with significant gains.
A good barometer of the state of the AI industry worldwide would be Nvidia's bottom line.
Profits per share for the second quarter are projected at $0.65, with sales of $28.7 billion.
With the market anticipating Nvidia's (NVDA) Q2 results on August 28, a number of AI tokens, such as FET, RENDER, and NEAR Protocol (NEAR), have seen substantial increases.
If Nvidia reports good profits, these AI coins can see more appreciation.
Ahead of Wednesday's expected release of Nvidia's Q2 results, artificial intelligence (AI) tokens were among the market's biggest gainers last week.
Leading the industry with gains of more than 61% in the 7-day period is Artificial Superintelligence Alliance (FET). RENDER's 36% gain puts them somewhat behind.
Additionally, there were significant increases of 21%, 14%, 19%, and 26% for NEAR Protocol (NEAR), Internet Computer (ICP), Bittensor (TAO), The Graph (GRT), and Akash Network (AKT), respectively.
The majority of these coins are down in value right now, but that might all change if Nvidia reports good Q2 results. On the other hand, short-term investors may choose to book gains if Q2 results fall short of forecasts, which might turn them pessimistic. Whenever NVDA made a big gain or released a nice update, AI tokens would often rally.
After the company's meteoric climb to trillion-dollar status, many investors look to it as a barometer for the health of the worldwide AI business, particularly crypto AI tokens. Experts in the market anticipate that Nvidia will post Q2 revenues of about $28.7 billion, a YoY rise of 112%, and adjusted EPS of around $0.65, a YoY gain of 139%.
#ai #Nvidia #CryptoMarketMoves $NEAR
{spot}(NEARUSDT)
MYRO Update â Big Move Incoming đš
MYRO has entered an ascending triangle pattern after its latest (massive) drop. So, just as a refresher, between the end of July and the beginning of August, MYRO lost almost 60%.
Typically, an ascending triangle pattern is considered a bullish pattern. That means we should see a break to the upside at some point, followed by a sharp price increase.
If this happens, we could see the price again attacking 0.14-0.15.
So, again, watching the trend line is essential. Never enter too early and without confirmation!!
$MYRO
âCrypto Adoption Index 2024,â created by Henley & Partners, ranked countries according to their tax and regulatory approach to crypto.
1st â đžđŹSingapore has supportive banking system, significant investment, comprehensive regulations such as the Payment Services Act, regulatory sandboxes, and alignment with global standards.
2nd â đđ°Hong Kong has cultivated an environment that promotes the growth of the crypto industry through significant public interest, high business acceptance in the financial and tech sectors, and advanced digital infrastructure.
3rd â đŠđȘUAE has substantial portion of the population owning crypto, matched by strong government support and a thriving start-up scene. This low-tax jurisdiction offers an attractive environment for crypto businesses, further bolstered by a highly digitalized and wealthy population.
4th â đșđžUS has 15% of its population owning crypto, supported by strong infrastructure, including a high density of crypto ATMs, crypto-friendly banks, and an increasing number of businesses accepting cryptocurrency.
5th â đŹđ§UK has moderate public interest and growing bank integration, particularly among challenger banks. The country is highly digitalized, and virtually all citizens have banking access.
đ Bitcoin Rollercoaster! đą
Yesterday, Bitcoin briefly soared past $65,000, only to face a sharp rejection, tumbling down over $2,000 and now sits below $63,000. Despite this dip, BTC enthusiasts have reasons to stay optimistic! đ
Last week, BTC mostly hovered below $60,000 until Friday brought two game-changing events. Fed Chair Jerome Powell hinted at upcoming interest rate cuts, and RFK's exit from the 2024 presidential race with an endorsement for pro-crypto Donald Trump sent BTC skyrocketing by over $4,000!
However, after a quiet weekend, BTC's momentum was halted at $65,100 on Monday. Despite the drop, BTC's dominance remains strong at nearly 54%, even as the overall crypto market cap dipped by $20 billion to $1.240 trillion.
While altcoins like UNI and LINK saw significant losses, Bitcoin's resilience continues to shine. Keep your eyes on BTC, folks! đđȘ
$BTC $61,500 Level Is the Perfect Buy-the-Dip, Says Expert - CoinPedia Analytics
According to expert technical analysis, BTC looks bullish as it is trading above the 200 Exponential Moving Average (EMA) on a daily time frame and the recent breakout. When an asset trades above the 200 EMA, it indicates that the asset is in an uptrend.Â
The Bitcoin price has been consolidating within a tight range between $63,500 and $64,500 levels for the last 3 days. As of now, there are two possibilities: if BTC falls below the $63,500 level, it may experience a 2.5% price drop and may retest the breakout level. On the other hand, if BTC breaks the $64,500 level, there is a high possibility it could soar by 5% to the $67,500 level. However, buying BTC at the retest level could offer a lower entry price, a tighter stop-loss, and a higher probability of a successful breakout.Â
Due to the ongoing consolidation, BTCâs open interest has remained stable over the last 24 hours, according to the on-chain analytic firm CoinGlass. There seems to be no growing interest from traders and investors.
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DOGS/USDT pair has seen an explosive move, skyrocketing by 137.94% to 0.0012977 USDT. The price action shows a sharp spike from a low of 0.0005454 to a high of 0.0018000 USDT, followed by a slight pullback and consolidation around the current level.
Given the massive price jump, this could be a result of sudden buying pressure, possibly driven by news or speculation. However, with such a rapid rise, caution is advised as the price could experience significant volatility. Keep an eye on whether the price stabilizes or if thereâs a sharp correction, which often follows such parabolic moves.
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Earning Bitcoin (BTC) on Binance:
With cryptocurrency continuing to trend worldwide, Binance has emerged as a leading platform for earning and trading Bitcoin (BTC). Whether youâre new to the world of crypto or a seasoned investor, Binance offers several opportunities to earn BTC through its various features.
1. Staking and Savings:
Binance provides options like Flexible Savings and Locked Staking, where you can deposit your assets and earn interest over time. These methods allow you to passively grow your BTC holdings without actively trading.
2. Trading BTC:
Spot and Futures trading are the go-to methods for active traders. Binance offers a wide range of trading pairs and tools. By analyzing market trends, you can buy low and sell high to increase your BTC balance. Futures trading allows for leverage but also comes with higher risk.
3. Binance Earn Programs:
Binance has dedicated products like Launchpool and Liquid Swap that let you earn rewards in BTC and other tokens. For instance, in Launchpool, you can stake BNB or other tokens to farm new tokens that might include Bitcoin rewards.
4. BTC Farming:
Liquidity farming or Yield Farming is another trending method where you provide liquidity to specific pairs and earn fees and rewards in BTC or other crypto. Binanceâs Automated Market Maker (AMM) model allows you to earn from trading fees while holding Bitcoin.
5. Referral Programs:
By inviting friends to Binance, you can earn a percentage of their trading fees in BTC. This passive earning strategy rewards those who share the platform with their network.
Conclusion
Earning Bitcoin on Binance offers flexibility, from active trading to more passive options like staking or yield farming. Always remember to do your research and manage risk wisely, as crypto markets can be highly volatile.
$BTC
{future}(BTCUSDT)
CONGRATULATIONS! $DOGS IS A SUCCESS đ„
Huge props to those who cashed out early. After $NOTâs rise, many tried their luck with TON farming airdrops, but most didnât launch. $DOGS, however, has proven itself as the meme of the TON ecosystem
For those who cashed out from $DOGS
âą Take Profits - Invest in your knowledge and tools for future airdrops
âą Back Solid Projects - Put money into projects you've researched
Trading Strategy for $DOGS
âą Current Situation - $DOGS started on Binance with a $700M market cap im Expect a dip soon
âą Strategy - Wait for the dip to around $200M-$400M market cap and Buy and hold for a potential 3X pump, especially when Pavel Durov is released
AIRDROP FARMING INSIGHTS
Not every airdrop will hit big, but persistence pays off. Whether itâs $FROGS, $GOATS, or $CATS farming, keep trying
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Even if your $DOGS cashout isnât huge - JUST KEEP GOING đ€
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French authorities recently arrested Telegram co-founder Pavel Durov at an airport near Paris. His arrest is linked to a preliminary investigation involving allegations that Telegram allows various crimes due to insufficient moderation and lack of cooperation with law enforcement. French President Emmanuel Macron commented that while France values freedom of expression, regulating it within legal boundaries is essential to protect citizens.
Pavel Durov, born in the former Soviet Union, co-founded VKontakte and later Telegram in 2013, focusing on user privacy and encryption. Telegram has gained global popularity, boasting over 900 million users. However, its strong privacy features have also made it a platform for illegal activities, including drug trafficking, cyberstalking, and terrorism support, leading to scrutiny and legal action.
The French case against Telegram alleges the platformâs complicity in several crimes. Additionally, Durov reportedly did not cooperate with the investigation, prompting an arrest warrant. The case has sparked criticism, including from figures like Edward Snowden, who condemned the arrest as an assault on free speech. The incident reflects ongoing tensions between governments and tech companies over content regulation and privacy rights.
{future}(TONUSDT)
$BTC #Telegrem ram #PavelDurov urov #CryptoNewss
California's AI Bill Sparks Debate in Silicon Valley
California's proposed AI legislation, SB 1047, has ignited a heated debate among major tech players such as OpenAI, Google, and Microsoft. The bill aims to regulate AI models developed by companies investing over $100 million in the technology. If passed, it would mandate rigorous safety testing, third-party audits, and the implementation of a kill switch for potentially harmful AI models. The state attorney general would also have the authority to take legal action against developers if their AI causes severe harm.
Supporters, including state Senator Scott Wiener and AI expert Yoshua Bengio, argue that these measures are essential to prevent catastrophic events, such as the creation of biological weapons or significant economic damage. However, critics claim that the bill could stifle innovation and put California at a competitive disadvantage.
Elon Musk, a prominent advocate for AI regulation, has surprisingly endorsed the bill, contrasting with many of his Silicon Valley peers. Musk believes that controlling AI is necessary to protect the public, despite potential backlash.
The debate has created a rift in Silicon Valley, with companies like OpenAI and Google opposing the bill due to its vague requirements, which they argue could hinder research and development. On the other hand, supporters believe that regulation is crucial to prevent the misuse of AI technology and that California should lead the way in establishing strong safety standards.
The future of AI regulation in California remains uncertain as Governor Gavin Newsom has yet to signal his stance on the bill. If passed, SB 1047 could set a precedent for other states and potentially prompt federal action, positioning California at the forefront of AI regulation.
đ Breaking News: Celsius is making it rain crypto! đ§ïžđž
1/ Celsius has distributed over $2.53B to 251,000 creditors as part of its bankruptcy process. That's right, folks, the crypto lender is back in action and spreading the wealth! đ°
2/ But wait, there's more! Another 121,000 creditors are still waiting to claim their share. If you're one of them, don't snooze on this! â°
3/ The plan involves distributing liquid crypto, cash, and stock in MiningCo to 375,000 creditors across 165 countries. Talk about global reach! đ
4/ Got thoughts on this epic distribution? Drop your comments below and let's discuss! đŁïžđ
#DeFi #Web3 #CryptoNews
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The market operates independently, with no regard for predictions or analyses. As traders, we often fall into the trap of believing that our forecasts have power, but in truth, they are merely opinions in a sea of uncertainty. Relying solely on analysis and predictions is a recipe for consistent losses, as it ties us to our own biases and blinds us to what the market is actually doing.
If you find yourself frustrated when your predictions donât pan out, or if itâs difficult to admit you were wrong, then itâs likely youâre too focused on analysis. The key to successful trading isn't about knowing what the market will do next; itâs about adapting to what itâs currently doing. Shift your focus away from trying to predict the future and start paying attention to the present.
Profitable trading doesnât require you to catch the exact tops and bottoms or forecast every movement. Instead, learn to read the marketâs current state. What are the higher timeframes revealing? What direction is price action currently taking? Where is the nearest liquidity? The answers are all on the charts if youâre willing to look and listen.
Rather than being a forecaster, become an observer. Let go of expectations and engage with the market as it is, not as you wish it to be. This shift in mindset will not only improve your trading results but also help you approach the market with a clear and unbiased perspective.
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