Jul 3, 2024

In a major development for the cryptocurrency mining industry, Riot Platforms has announced a substantial increase in its hash rate, leading to a notable rise in Bitcoin production for June. The company reported a 50% jump in its deployed hash rate, which soared from 14.7 exahashes per second (EH/s) to an impressive 22 EH/s by the end of the month. This surge in computational power was a result of new miner installations at Riot's Corsicana facility and expanded capacity utilization at its Rockdale location.
Jason Les, CEO of Riot Platforms, hailed June as a "historic month" for the company. Les highlighted that the firm not only reached but exceeded its mid-year target, achieving a deployed hash rate of 21.4 EH/s ahead of schedule. This achievement was particularly significant as the majority of the new miners became operational in the closing days of June.


Riot's enhanced hash rate translated into the mining of 255 Bitcoin in June, a 20% increase compared to May. This output, valued at approximately $15.3 million based on current prices, has bolstered Riot’s total Bitcoin holdings to 9,334 BTC, equivalent to about $561.6 million. Unlike previous months, Riot decided to retain all of its newly mined Bitcoin, reflecting a strategic decision to strengthen its cryptocurrency reserves.
Despite this impressive growth, Riot's June Bitcoin production was down by 45% from the same period last year. This decline is attributed to the Bitcoin halving event on April 20, which reduced the block reward by half, directly impacting miners' earnings.
Riot Platforms has now positioned itself as the second-largest Bitcoin miner in the industry, overtaking competitors such as CleanSpark and Core Scientific, both of which have reported hash rates exceeding 20 EH/s. The only company ahead of Riot in hash rate is Marathon Digital, with a leading capacity of 31.5 EH/s.


Looking ahead, Riot is focused on further expanding its mining capabilities. The firm is on track to boost its self-mining hash rate capacity to 31.5 EH/s by the end of 2024. Riot also has ambitious plans to reach a staggering 100 EH/s by 2027, a target that hinges on its potential acquisition of additional MicroBT mining equipment.
The hash rate is a critical metric in the cryptocurrency mining world, representing the total combined computational power used to validate transactions on proof-of-work networks like Bitcoin. Riot's rapid expansion in this area underscores its commitment to remaining at the forefront of the Bitcoin mining sector.
As Riot continues to enhance its infrastructure and capabilities, the company is poised to play a pivotal role in the evolving landscape of cryptocurrency mining.
#BTC☀ #Market_Update #6thTrade #bitcoin☀️

Jul 3, 2024

According to the BLOCK , Compute Labs, a pioneering developer of GPU tokenization protocols on the Solana blockchain, has successfully secured $3 million in a pre-seed funding round. The round, which closed in April, was spearheaded by Protocol Labs, the creators behind Filecoin, and saw participation from a host of notable investors and industry leaders.
$FIL

Key Investors and Angel Backers
The funding round was a collaborative effort, with contributions from prominent entities such as Blockchain Coinvestors, OKX Ventures, CMS Holdings, HashKey Capital, Amber Group, and P2 Ventures (previously known as Polygon Ventures). In addition, angel investors including Sandeep Nailwal from Polygon, Illia Polosukhin of NEAR Protocol, and Austin Federa from the Solana Foundation, added their support.
Albert Z, founder and CEO of Compute Labs, shared that the pre-seed round exceeded expectations, being oversubscribed by twice the target amount. This success has positioned Compute Labs at a fully diluted token valuation of $30 million and set the stage for an ongoing seed round, which Z notes is attracting interest at a "significantly higher" valuation.
What is Compute Labs?
Compute Labs is on a mission to democratize access to high-performance computing power. The company is developing a tokenization protocol for real-world assets (RWAs) with a focus on compute power, leveraging GPUs and CPUs. Albert Z emphasizes the crucial role of compute in the digital age, describing it as "the currency of the future," especially with the rise of artificial intelligence (AI).
$NEAR

The current market restricts average investors from accessing enterprise-grade GPUs. Compute Labs aims to change that by allowing anyone to invest in compute power through its innovative protocol. The protocol will enable the purchase of high-performance GPUs, such as the NVIDIA H100, using GPU-NFTs (GNFTs). These GNFTs are unique tokens on Solana (SPL22) that combine fungible and non-fungible properties, providing both ownership and yield rights to the underlying GPU.
Upcoming Launches and Expansion Plans
Compute Labs is preparing for a significant milestone with the upcoming pre-sale of GNFTs scheduled for this month. This pre-sale will be followed by a public sale, opening up the market for broader participation.
The protocol itself is currently operational on the Solana testnet, with plans to go live on the Solana mainnet this month. Looking ahead, Compute Labs intends to launch its native token in the third or fourth quarter of the year. Beyond Solana, the company envisions expanding its protocol to other blockchains, including NEAR and Monad.
$SOL

Building the Future of Compute
Based in Los Angeles and Seattle, Compute Labs is a compact team of five, with plans to grow. The company is actively seeking new hires in engineering, marketing, and operations to support its ambitious growth and development goals.
Compute Labs also boasts support from NVIDIA through the NVIDIA Inception VC Alliance. This program offers Compute Labs various benefits, including cost savings, discounted GPU supplies, and direct engagement with NVIDIA’s business units and original equipment manufacturers. This partnership not only accelerates Compute Labs' go-to-market strategy but also aligns with NVIDIA's vision of fostering innovation in AI and high-performance computing.
With this strong foundation and visionary approach, Compute Labs is poised to make high-performance compute power accessible to all, potentially transforming how individuals and businesses leverage technology in the era of AI.
#IntroToCopytrading #US_Job_Market_Slowdown #MarketNews #Binance #6thTrade

$PEPE

The memecoin market is buzzing with speculation and optimism following a significant transaction involving PEPE tokens. In the past 24 hours, an influential PEPE whale has made a substantial withdrawal from Binance, sparking potential bullish sentiment around the token. Let’s delve into the details and explore why this move could present an exciting opportunity for investors.

The Whale's Massive Outflow
According to Whale Alert, a leading cryptocurrency transaction tracker, a noteworthy PEPE transfer occurred on the blockchain recently. The whale moved an astonishing 1,286,733,285,955 PEPE tokens, valued at over $14.7 million, from Binance to a self-custodial wallet.
Such large transactions typically signify significant market activity and can often lead to price movements. Here’s why this transfer is catching the attention of investors and analysts alike.
Understanding Whale Movements
Whales, the market’s biggest players, wield considerable influence due to their substantial holdings. Their actions can often be a precursor to broader market trends, making their moves worth closely monitoring. In this instance, the whale’s decision to withdraw a large amount of PEPE from Binance could be seen as a strategic move with potentially bullish implications.
$BONK

Exchange Outflows: A Bullish Signal?
Transfers from exchanges to personal wallets are known as exchange outflows. These movements often indicate that the holder intends to keep their assets for the long term, rather than selling them in the short term. Here’s why this is significant:
Investor Confidence:The whale’s transfer from Binance to a self-custodial wallet suggests a level of confidence in the future value of PEPE. When large holders opt to store their assets off exchanges, it usually signals a bullish outlook, indicating they expect the asset’s price to rise.Potential Supply Reduction:By moving a large quantity of PEPE off the exchange, the available supply for trading on Binance decreases. This reduction in supply can lead to increased demand pressure, potentially driving the price higher.Long-Term Holding Strategy:This move aligns with the typical behavior of whales who anticipate future price appreciation. Their strategy often involves holding substantial amounts for extended periods, waiting for favorable market conditions to capitalize on their investments.
PEPE’s Price Action and Future Prospects
Recently, PEPE experienced a slight dip, retreating to around $0.0000115 from a previous high of $0.0000121. Despite this minor setback, the recent whale activity could signal a forthcoming upward trend.
Given the whale's significant withdrawal, it’s plausible that we may see an increase in buying interest as other investors interpret this move as a vote of confidence in PEPE's potential.
$FLOKI

-6thTrade

The ENS token, the native currency of the Ethereum Name Service, is making headlines with its recent explosive performance in the crypto market. Over the past week, ENS has seen a remarkable 36% increase, capturing the attention of both seasoned investors and new entrants to the space. This surge is not just a fleeting moment but could signify a prolonged bullish trend for the token.
$ENS #infrastructure

Price Explosion and Renewed Investor Interest
ENS is revolutionizing the way we interact with blockchain technology by translating complex, machine-readable wallet addresses into simple, human-readable domain names. This innovation has become increasingly vital as more people engage with decentralized applications (dApps) on the Ethereum network.
In the past day alone, ENS has climbed by over 2%, briefly surpassing the $33 mark and currently trading at $31.89, according to data from Coingecko. This upward momentum has placed ENS among the top gainers in the cryptocurrency market, drawing significant attention from investors.
The excitement extends beyond the spot markets into the derivatives sector. Open interest in ENS futures has soared to record highs, exceeding $160 million. This surge indicates a dramatic increase in investor participation and speculation, suggesting that the market anticipates further gains for ENS.
Moreover, the funding rate, which measures the cost of holding futures contracts, has shifted from negative to positive. This shift reflects a growing demand for long positions, where traders bet on price increases. A positive funding rate typically signals a pool of optimistic traders expecting continued price appreciation for ENS.

Technical Analysis: Bullish Signals
From a technical perspective, ENS is demonstrating strong bullish signals. After a period of mixed trends, the token experienced a significant rally on June 30th, pushing its price to a peak of $33.21. This momentum has been maintained, with the Relative Strength Index (RSI) nearing 70, indicating a robust uptrend.
While a high RSI can suggest overbought conditions, it also highlights substantial buying pressure and market enthusiasm. The consistent upward trajectory of ENS, coupled with the high RSI, underscores the token's potential for sustained growth.
Long-Term Prospects and Growth Potential

Several factors are fueling the current optimism around ENS. One of the most anticipated developments is the upcoming ENSv2 upgrade, which promises to enhance the system's efficiency and scalability. This upgrade is expected to bolster investor confidence and attract more users to the ENS ecosystem.
The growing adoption of dApps within the Ethereum network also plays a crucial role. As more applications rely on Ethereum, the demand for user-friendly domain names provided by ENS is likely to increase, driving further interest and investment in the token.
Additionally, ENS benefits from being deeply integrated into the Ethereum network, one of the most robust and widely used blockchains in the world. This foundational strength positions ENS well for future growth as the broader cryptocurrency and blockchain industries continue to expand.
Navigating Potential Risks
While the current outlook for ENS is optimistic, it's important to recognize potential risks. The cryptocurrency market is inherently volatile, and broader market conditions can impact individual tokens. However, the fundamentals supporting ENS – its unique utility, upcoming technical upgrades, and integration with Ethereum – provide a strong basis for continued optimism.
As the crypto landscape evolves, ENS's role in simplifying blockchain interactions and its alignment with the expanding Ethereum ecosystem suggest a promising future. Investors are watching closely, with many seeing ENS not just as a short-term winner but as a long-term asset poised for significant growth.
#US_Inflation_Easing_Alert #altcoins #6thTrade
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With the ENS token's impressive performance and strong fundamentals, the future looks bright. As the crypto community continues to embrace innovations that enhance usability and accessibility, ENS is well-positioned to thrive in this dynamic and rapidly growing market.
$LINK $RNDR

The cryptocurrency market saw a significant boost for Kaspa (KAS) this past week, with its price surging nearly 18%. This uptick comes in the wake of a strategic move by Marathon Digital (MARA), a major player in the Bitcoin mining sector, generating excitement and optimism among investors.
Marathon Digital Ventures Into Kaspa Mining
On June 26th, Marathon Digital, renowned for its substantial Bitcoin mining operations, revealed its foray into Kaspa mining. This decision signals a notable diversification in Marathon’s revenue streams, branching out from its traditional focus on Bitcoin.
$QKC

Kaspa, a proof-of-work cryptocurrency like Bitcoin, distinguishes itself with its advanced BlockDAG (Directed Acyclic Graph) technology. Unlike Bitcoin’s 10-minute block intervals, Kaspa's architecture allows for multiple blocks to be processed simultaneously, offering significantly faster transaction times. Marathon's recent mining activity has amassed nearly 94 million KAS, positioning the firm as a major participant in the Kaspa ecosystem.

Kaspa’s Advantages and Marathon’s Strategic Insight
Marathon Digital’s expansion into Kaspa mining is driven by both technological and financial incentives. Kaspa’s faster transaction processing is not only a technological breakthrough but also presents a lucrative opportunity for miners. Marathon's extensive investment in specialized Kaspa ASICs (Application-Specific Integrated Circuits) last year underscores this potential, with projections suggesting profit margins as high as 90% under favorable conditions.
Adam Swick, Marathon’s Chief Growth Officer, highlighted the strategic importance of this move, stating:
> “By mining Kaspa, we’re establishing a revenue stream separate from Bitcoin, one that directly aligns with our expertise in digital asset computing.”
Swick emphasized Marathon's robust infrastructure, strong hardware partnerships, and solid financial foundation as key factors positioning the company to capitalize on Kaspa’s high-margin opportunities.
$SOL

Investor Confidence and Market Dynamics
Marathon Digital’s entry into Kaspa mining has significantly boosted investor confidence. The resulting price surge for KAS indicates strong market optimism and hints at potential for further growth. With a current market cap of $4.3 billion and trading at $0.1799, Kaspa is nearing its all-time high, and increased trading volume suggests it might be on the cusp of a new price discovery phase.
Looking Ahead: Opportunities and Challenges
While the recent developments for Kaspa are promising, the cryptocurrency market remains unpredictable. Kaspa’s future will depend on several factors, including broader adoption, ongoing developer engagement, and overall market sentiment.
Marathon Digital’s strategic shift into Kaspa mining could mark the beginning of a new chapter for both the cryptocurrency and the company. If Kaspa continues to leverage its technological advantages and attracts further attention from major players in the industry, it could solidify its position in the top echelons of the crypto market.
$LEVER

Marathon Digital's move into Kaspa mining has injected fresh momentum into the KAS token, driving its price closer to historical highs. With Kaspa's unique technology and potential for high profitability, it stands out as an intriguing prospect in the cryptocurrency landscape. Investors and market watchers will be keenly observing how Kaspa navigates this newfound interest and the broader dynamics of the crypto market.
#MarketSentimentToday #CryptoTradingGuide #ChartAnalysis #6thTrade #Binance

$ADA

Last month’s general market decline has significantly impacted Cardano’s #adausdt price, which is now trading at $0.37 after witnessing an 18% drop over the past 30 days. On-chain data reveals that this price dip has prompted some of Cardano’s biggest holders to scale back their trading activities.
Cardano Whales Seek to Reduce Exposure
Cardano's ADAUSDT has experienced a notable decrease in large transaction volume over the past month. Specifically, the daily count of ADA transactions worth between $1 million and $10 million has dropped by 33%. Similarly, transactions valued at $10 million or more have seen a 24% decline over the same period.
A reduction in large transaction volume indicates a significant decrease in big trades for the asset, often reflecting a shift in investor sentiment from positive to negative. This reluctance to trade may be due to various factors, with changing market sentiment being the most significant.

Weighted Sentiment Confirms Negative Outlook
An assessment of ADA’s weighted sentiment—a metric tracking the positive and negative mentions of an asset on social media—confirms the bearish outlook. At press time, the weighted sentiment value stands at -0.58, indicating a general feeling of negativity among those discussing the asset. A negative weighted sentiment typically precedes a continued decline in an asset’s value, as investors hesitate to trade, leading to decreased demand and subsequent price drops.
Technical Indicators Signal Further Decline
On a daily chart, several key technical indicators highlight the decline in ADA's demand among market participants. The Relative Strength Index (RSI), which measures an asset’s overbought and oversold conditions, has fallen below the neutral line of 50, currently sitting at 34.12. This value indicates that ADA is approaching oversold territory, with selling pressure outweighing buying activity.

Additionally, the Directional Movement Index (DMI) shows increased selling activity since June 12, with the positive index (blue) resting below the negative index (red). This setup signals a bearish market, confirming significant selling pressure.
ADA Price Prediction: Further Losses or Potential Rebound?
If the sell-offs continue, ADA’s value may dip to $0.35. However, a shift in sentiment from negative to positive could spark increased buying pressure, potentially driving the price up to $0.41.

Investors are closely monitoring these indicators to gauge the next move, with market sentiment playing a crucial role in ADA's price trajectory. As the market continues to evolve, the coming weeks will be critical in determining whether ADA can rebound or if further losses are on the horizon.
$CFX $SOL


#CryptoTradingGuide #6thTrade #layer1layer2 #ChartAnalysis

Groundbreaking Merger in the AI Community: Fetch.ai, Ocean Protocol, and SingularityNET Unite into ASI Token
The artificial intelligence (AI) sector is abuzz with excitement as Fetch.ai (FET), Ocean Protocol (OCEAN), and SingularityNET (AGIXUSD) announce a revolutionary merger. This monumental event, set to begin on July 1, 2024, promises to reshape the landscape of AI-driven blockchain technology, bringing together three powerhouse tokens into a unified entity: the Artificial Superintelligence Alliance (ASI).

The Merger Process: A Detailed Breakdown
Fetch.ai revealed the ambitious merger plan on its official X account, stating that the integration will unfold in multiple phases to ensure a seamless transition. The initial phase will witness the merging of AGIX and OCEAN tokens into FET, which will then transition into the ASI token. During this period, FET trading will continue without interruption, ensuring stability and continuity for traders and investors on major platforms like CoinMarketCap and CoinGecko.
Phase I: Setting the Foundation
The first phase of this merger focuses on integrating exchanges and data aggregators, laying a robust foundation for the rebranding process. According to Fetch.ai, this stage will be approached with meticulous care to avoid any hasty moves that might disrupt the market. The rebranding efforts will commence on July 1, with project names and logos updated to reflect the new identity. Concurrently, AGIX and OCEAN tokens will be delisted from exchanges, and the migration platform will launch on Singularity DAO's decentralized applications (dApps).
Phase II: Deploying ASI and Onboarding the Community
Phase II will concentrate on deploying the ASI token and onboarding the community. Self-custody holders will be prioritized during this phase, ensuring that ASI tokens are launched across various blockchain networks. New migration contracts will be introduced to facilitate the transition from FET to ASI, with conversion rates set as follows:
- 1 AGIX = 0.433350 ASI
- 1 OCEAN = 0.433226 ASI
- 1 FET = 1 ASI
A User-Centric Approach
The ASI Alliance is dedicated to ensuring a user-friendly migration process. The team has committed to keeping the migration contracts open for years, giving users ample time to convert their tokens. This approach is particularly beneficial for individuals with funds locked in staking or other programs, providing them with the flexibility to manually convert their tokens to ASI without facing any rush.
Implications for the AI and Blockchain Communities
This merger signifies a bold step towards unifying some of the most innovative AI and blockchain projects. Fetch.ai’s focus on autonomous agents, Ocean Protocol’s data-sharing capabilities, and SingularityNET’s decentralized AI marketplace are set to combine their strengths under the ASI banner. This integration is expected to foster enhanced collaboration, streamline operations, and accelerate the development of cutting-edge AI solutions.
The AI community eagerly awaits the impact of this merger, which promises to unlock new potentials and drive forward the evolution of artificial intelligence and blockchain technology. As the countdown to July 1 begins, stakeholders and enthusiasts alike are poised to witness a transformative moment in the AI landscape.
#AI #MarketNews #Binance #CryptoPCEWatch #6thTrade

$OMNI

The OMNI/USDT trading pair has been exhibiting intriguing signs of a potential breakout, indicating a promising opportunity for traders. With the price currently hovering around $14.12 and showing signs of consolidating a bullish momentum could be on the horizon if certain key levels are breached. Let's delve into the technical analysis to understand why this setup looks optimistic.

Key Technical Indicators and Analysis
Descending Trendline Breakout:
The chart shows a descending trendline that has been respected since mid-May. The price is currently testing this trendline, and a break above it would signal a potential reversal of the downtrend. This is a classic technical pattern where a breakout above the descending trendline often leads to a substantial upward movement.Strong Support Zone:
The yellow box on the chart highlights a strong support zone around the $13.50 to $14.00 range. This zone has been tested multiple times and has held strong, indicating significant buying interest at these levels. The consistent support here adds to the bullish sentiment as it forms a solid base for a potential upward move.SMA 200 as a Target:
The 200-period Simple Moving Average (SMA), often considered a critical long-term trend indicator, is positioned above the current price. A breakout above $15 would likely set the stage for a rally toward this SMA, which is currently around the $20 level. This represents a significant upside potential of approximately 30%.Price Action and Volume:
The recent price action shows a series of higher lows, suggesting accumulation and increasing buying pressure. Additionally, the volume has been supportive of the price movements, indicating genuine interest and participation by market players.Potential for Upward Momentum:
If the price manages to break above the $15 resistance level, it would confirm the bullish breakout. This move could trigger a surge in buying activity, propelling the price toward the next significant resistance level at $18 and eventually toward the SMA 200 around $20.
A Bullish Setup in the Making
The OMNI/USDT pair is showcasing a textbook bullish setup with a potential for a significant upside move. The combination of a descending trendline breakout, strong support zone, and the target of the SMA 200 creates an optimistic scenario for traders.
As always, it is crucial to monitor the key levels and price action closely. A sustained break above $15 would be a strong signal to consider entering long positions with a target towards $18 and $20 in the short to medium term. This setup offers a favorable risk-reward ratio, making it an attractive opportunity for traders looking to capitalize on the next bullish wave.

The information provided here is intended for informational purposes only and should not be construed as financial, investment, trading, or any other type of advice or recommendation. It is important to conduct your research and consider your financial situation before making any investment decisions $BB $TRX


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#layer1

#PEPE/USDT
The PEPE/USDT trading pair is showing highly encouraging signs of a potential bullish breakout, making this an ideal moment for investors to consider entering the market. As of June 26, 2024, the pair is trading at 0.00001243 USDT, down slightly by -3.27% on the day. However, the technical setup suggests that a significant upward move may be on the horizon. Let's dive into the details to understand why this setup is particularly promising.
Strong Support Zone
The chart highlights a robust support zone around the 0.00001000 USDT mark, indicated by the yellow box. This support level has been tested multiple times, demonstrating its reliability. The strong support zone provides a solid foundation for a potential upward move, minimizing downside risk.
Descending Channel Breakout
PEPE/USDT has been trading within a descending channel, but recent price action suggests a potential breakout. Breaking out of this channel is a classic bullish signal, indicating that the downward pressure is waning and buyers are gaining control. This breakout could mark the beginning of a new bullish phase.


200-Day Simple Moving Average (SMA)
The 200-day Simple Moving Average (SMA), a critical indicator for long-term trends, is currently acting as a dynamic support level. The price is above the 200 SMA, which is a positive sign. Historically, when the price is above the 200 SMA, it indicates a bullish trend. The current action suggests that PEPE/USDT is well-positioned to capitalize on this upward momentum.
Volume Analysis
The volume bars on the chart indicate healthy trading activity. Significant spikes in volume often correspond to strong price movements, suggesting high market interest and participation. This increased volume is a bullish sign, indicating that investors are actively buying into the potential upward trend.
Higher Lows and Price Structure
The price structure of PEPE/USDT is also encouraging. The recent higher lows compared to earlier levels in 2023 indicate that buyers are stepping in at higher price points. This pattern of higher lows is a key characteristic of an uptrend, further strengthening the bullish outlook.

Conclusion
The technical analysis of PEPE/USDT presents a compelling case for optimism and opportunity. With a robust support zone, a potential breakout from the descending channel, positive signals from the 200-day SMA, and encouraging volume analysis, the conditions are ripe for a significant upward move.
- Strong Support: The 0.00001000 USDT support level provides a solid base, minimizing downside risk.
- Bullish Breakout: The potential breakout from the descending channel signals a shift in momentum towards buyers.
- 200 SMA Support: The price is above the 200-day SMA, indicating a bullish trend.
- High Market Interest: Increased trading volume suggests strong investor interest and participation.
- Higher Lows: The formation of higher lows confirms the upward trend.
Investors looking for a promising opportunity in the cryptocurrency market should seriously consider entering the PEPE/USDT market now. The technical indicators point to a bullish future, making this an excellent time to capitalize on the potential gains.
$DOGE $SHIB


The information provided here is intended for informational purposes only and should not be construed as financial, investment, trading, or any other type of advice or recommendation. It is important to conduct your research and consider your financial situation before making any investment decisions
#BinanceTournament! #CryptoTradingGuide #ChartAnalysis #6thTrade