Cryptocurrency

Cryptocurrency Market Downturn Amid AI and Big Data Tokens

Thursday. October 3 at 6:00 PM

1 min. read

The cryptocurrency market saw a significant drop in value as AI and big data-related tokens lost $4.69 billion in market capitalization over three days. Starting at $38.82 billion on Sept. 30, the market decreased to $34.13 billion by Oct. 3, casting doubt on the expected 'UPtober' trend. Despite October typically being a positive month for traders, this year has been dubbed 'Octo-bear' instead. Leading tokens like Near Protocol, Bitensor, and Internet Computer experienced notable declines. This downward trend also impacted tokens like Render and Artificial Superintelligence Alliance. While the broader crypto market has been affected by geopolitical issues and regulatory challenges, AI tokens have still shown improvement compared to July. Although there is optimism for BTC in the long term, short-term volatility may be expected in October.

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High-Profile Inmates at Metropolitan Detention Center

Saturday. December 21 at 12:00 PM

Luigi Mangione, the alleged murderer of UnitedHealth Group CEO Brian Thompson, has been transferred to the Metropolitan Detention Center in Brooklyn, where he joins crypto criminal Sam Bankman-Fried. Bankman-Fried, the ex-FTX boss serving a 25-year sentence for his involvement in his company's collapse, is not the only notable inmate at the facility. Superstar music producer Sean 'Diddy' Combs is also being held there on racketeering conspiracy and sex trafficking charges. Combs shared a space with Bankman-Fried and even used one of his lawyers. FTX, once a major player in the crypto space, went bankrupt in November 2022 due to criminal mismanagement by Bankman-Fried and his team. Mangione, charged with murder in Thompson's killing, was apprehended in Pennsylvania after a manhunt. Prosecutors allege that Mangione targeted Thompson due to his disdain for the U.S. healthcare industry.

Cryptocurrency

CoinDesk Editors Fired Amid Controversy

Saturday. December 21 at 10:00 AM

CoinDesk, a subsidiary of Bullish, terminated three senior editors due to cost-cutting and restructuring reasons. The publication's independence came into question after an article on Tron founder Justin Sun was removed for allegedly spreading misinformation. In an interview with Fortune, the fired editors expressed their dismissal. The controversy stemmed from an article critiquing Sun's extravagant purchase of a banana art piece and his legal issues with the SEC. The removal of the article without notice raised concerns about editorial independence. The decision led to further resignations, with critics speculating about the influence of Tron's sponsorship on CoinDesk. Despite CEO Sara Stratoberdha emphasizing the layoffs' necessity for productivity, doubts remain about the publication's credibility as a crypto industry watchdog. The incident highlights the challenges faced by editors in maintaining journalistic integrity in a rapidly evolving industry.

Cryptocurrency

Ripple's $5 Million Donation to Trump Inauguration Fund

Saturday. December 21 at 7:00 AM

Ripple has pledged $5 million worth of XRP to support the inauguration celebrations for President-elect Donald Trump and Vice President-elect J.D. Vance in January. Other crypto firms, such as Coinbase, Kraken, and Ondo Finance, have also made significant donations to the inauguration fund. Coinbase and Kraken each contributed $1 million to the Trump-Vance Inaugural Committee, while Ondo Finance donated $1 million as well. The donations come with perks, including exclusive event tickets over the inauguration weekend. Ripple CEO Brad Garlinghouse also donated $25 million to a pro-crypto super PAC. The cryptocurrency industry's efforts to engage with the incoming administration have led to key appointments, such as David Sacks being named the first AI and Crypto Czar. These developments indicate the industry's potential to influence decisions during Trump's presidency.

Cryptocurrency

Analysis of Hyperliquid (HYPE) Price Surge

Friday. December 20 at 9:00 PM

Hyperliquid (HYPE) price has increased by 37% in the past week due to a significant airdrop. Momentum indicators like RSI and BBTrend suggest a continued uptrend with potential for further growth, although at a slower pace. If the bullish trend persists, HYPE could reach new highs around $28.95 and possibly $30 or $35. Conversely, a weakening trend could lead to a correction, with strong support at $15. HYPE's RSI has improved to 55.8, indicating a recovery in momentum. The current RSI level, although not overbought, shows a shift towards a more bullish sentiment. BBTrend remains positive at 28.4, indicating ongoing bullish momentum, albeit at a slower rate. A breakout above $28.95 could lead to further gains, while a downturn may result in a 42% correction to $15. This analysis serves as information only and not financial advice.

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