Day: November 21, 2024

Why We Need Decentralized AI

Decentralized AI presents a promising alternative to open and closed-sourced AI by leveraging blockchain technology and crypto-based incentives. In decentralized AI systems, no single entity controls the network; instead, ownership, access, and rewards are distributed among participants. This approach addresses the funding and coordination issues that plague open-source AI by introducing token economies that provide ongoing financial incentives to contributors. For example, decentralized networks like NEAR, Bittensor, Allora, Sentient, and Sahara aim to reward participants with native tokens for their contributions to training and improving AI models, creating a sustainable…

Floki burn rate rises as expert predicts a 92% surge

Floki price rallied to its highest level since June 8 after Coinbase, the largest crypto exchange in the United States, listed it and as the crypto bull run continued. Floki (FLOKI), one of the top meme coins, surged to $0.00028, marking a 172% increase from its lowest level in August. This rally occurred in a high-volume trading environment in both the futures and spot markets. Spot market volume reached $1.68 billion, a significant figure given Floki’s market cap of over $2.5 billion. Floki’s open interest in the futures market rose…

AI firm Genius Group boosts Bitcoin treasury with $14m purchase

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Genius Group’s shares were up 8.5% after the Singapore-based firm announced it had invested $14 million to expand its Bitcoin portfolio. Artificial intelligence firm Genius Group announced in a Nov. 21 press release that it had added an additional $4 million to its Bitcoin (BTC) purchases, bringing its total holdings to 153 BTC in its crypto treasury. The purchase follows Genius Group’s announcement on Nov. 12 of its commitment to a “Bitcoin-first” strategy, under which the firm intends to allocate 90% or more of its reserves to Bitcoin, with an…

Novogratz warns that there will be a bitcoin correction, says crypto is ‘levered to the gills’

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Bitcoin is poised to breakthrough the long-awaited $100,000 level after its postelection rally, but that doesn’t mean the leading cryptocurrency will go up in perpetuity, said Galaxy Digital CEO Michael Novogratz. Bitcoin was trading at about $97,000 on Thursday morning, after setting a new record high of $98,367.00, according to Coin Metrics. Novogratz said on ” Squawk Box ” that reaching the six-figure mark felt “inevitable” and that bitcoin could continue to rally from there, but a pullback will come eventually. “There’s a ton of leverage in the system right…

Bitcoin Breaks All-Time Price Highs: Long-Term Holders Stir as Institutional Demand Surges

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Bitcoin (BTC) continues to smash new lifetime price highs and long-term holders are starting to awake from slumber, according to Glassnode’s recent analysis. Institutional Investors Anchor Bitcoin’s Ascent as Analysts Warn of Profit-Driven Sell-Offs Glassnode and analysts Cryptovizart and Ukuria OC reported that this month’s surge was driven by capital inflows of $62.9 billion over […] Original

Mastercard’s Token Network Connects with JPMorgan’s Digital Asset Network, Kinexys, for Blockchain-Based FX

“By bringing together the power and connectivity of Mastercard’s MTN with Kinexys Digital Payments, we are unlocking greater speed and settlement capabilities for the entire value chain. We are excited about this integration and the new use cases it will bring to life, leveraging the strengths and innovations of both organizations,” said Raj Dhamodharan, executive vice president, Blockchain and Digital Assets at Mastercard in a statement. Source

Ethereum’s Ether (ETH), Uniswap (UNI), Chainlink Surge as Bitcoin (BTC) Price Nears $100K

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Bitcoin topped $98,000 heading into the U.S. morning, extending its breakout from an eight-month consolidation since crypto-friendly Donald Trump won the U.S. presidency. The largest crypto has advanced 4.5% over the past 24 hours, leaving the broad-market CoinDesk 20 Index behind. Some altcoins are quickly catching up to BTC’s gain, with ether (ETH), Chainlink (LINK) and Uniswap (UNI) surging 5% in the past hour. The $100,000-per-BTC mark is just a stone’s throw away and BTC futures on Deribit maturing next year are already trading above the threshold. Still, the round-number…