Category: Market Insights

Near Protocol Aims to Create the World’s Largest Open-Source AI Model with 1.4 Trillion Parameters

Near Protocol just dropped in major updates! They’re currently working on the largest open-source AI model with 1.4 trillion parameters, revealed at the Redacted conference in Bangkok. Not only that, NEAR’s mainnet now also works with MetaMask and all Ethereum wallets, so ETH users can jump in without switching wallets. This led to NEAR’s price to surge by 9% to $5.17, boosted by a huge 139% increase in trading volume after the conference.

On a Redacted conference recently held on Bangkok, Thailand, Near Protocol made an announcement of their ambitious plans for the new AI model they are building. This one is supposed to be the largest open source Artificial Intelligence model in the world. It will contain 1.4 trillion parameters which in perspective is 3.5 times larger than the current open source Llama model by meta.

The project also involves support of collaborations s from the new hub Near AI Research and will be created through crowdsourced research and development. As of November 10 some participants in Bangkok are already able to start training a small model with almost 500 million parameters. Furthermore, the plan is looking to proceed by collaborating with the ones who would make the leap to work on progressively more complex models. Which means the project is bound to grow in size and sophistication through several models, seven to be exact.

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Price Outlook of NEAR

As the time of writing, Near Protocol’s token NEAR is priced at $5.33 with a 24 hour trading volume of almost $1.5 billion. This gives off a very positive vibe as it has managed to increase by 9.78% in just 24 hours and a whopping 44.39% increase in the past seven days. This momentum could break this coin way above its resistance level if it continues on till next week. With a circulating supply of bout 1.2 billion NEAR tokens, the platform is valued at a market capitalization of $6.4 billion.

Shiba Inu Developer Proposes U.S. Blockchain Innovation Hub as SHIB Pumps 40%

In brief, Shytoshi Kusama, the principal inventor of Shiba Inu, recently suggested creating a “Silicon Valley for crypto” in the US. This ambition, which corresponded with a noteworthy 40% increase in SHIB’s price, seeks to establish the United States as a leader in blockchain innovation.

A Developer of Shiba Inus Shares Their Vision

Kusama presented a strategy plan to create a blockchain innovation hub in the United States, which he hopes would become a multibillion-dollar “Silicon Valley for crypto.” He said he hoped this program will push the United States to adopt blockchain technology and catch up to the world’s leading innovators in digital assets.

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SHIB Increase of 40%

SHIB’s price surged 40% after the revelation, hitting $0.00002727 in a single day. SHIB has increased by more than 65% per week, despite being 68% below its peak of $0.00008616 in October 2021. Although Kusama’s strategy may not have been the main force behind the pump, favorable market conditions most likely contributed to SHIB’s upward trajectory.

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Future Objectives of the Shiba Inu Foundation

The Shiba Inu foundation intends to publicly offer the hub proposal to the incoming U.S. administration, Kusama hinted. The foundation further highlighted the project’s goal of promoting worldwide blockchain adoption by indicating that financing from their D.O.G.E. initiative might help fund this ambitious effort.

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Finally, Kusama’s plan has renewed interest in and optimism for SHIB, marking a persistent push for strategic expansion and practical implementation within the Shiba Inu ecosystem.

ETH, SHIB, and SUI are the top cryptocurrencies to keep an eye on this week.

Synopsis

The primary cause of last week’s hopeful spike in the cryptocurrency market was the increase in Bitcoin following Trump’s election triumph. As Bitcoin got close to $80,000, altcoins like Ethereum (ETH), Shiba Inu (SHIB), and Sui (SUI) also reported significant gains, pushing the global cryptocurrency market value to a record high of $2.85 trillion. Below is a summary of the week’s best cryptocurrency performers and important levels to keep an eye on.

Ethereum Surges Past $3,000

Ethereum reclaimed multi-month highs, spiking to over $3,100 as it capitalized on the broader market rally. After a modest drop on Nov. 4, ETH rose 27.3% over the week, with its largest gains on Nov. 6 following Trump’s victory. The cryptocurrency remains in overbought territory, with a potential pullback to $2,981 if momentum stalls. Key resistance now lies at $3,396, while the Relative Strength Index (RSI) sits at a bullish 75.62.

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Shiba Inu Rallies 21%

Shiba Inu saw a 21% weekly increase, breaking past $0.00002 for the first time in nearly a month on Nov. 9. The MACD’s bullish crossover on Nov. 6 indicates strong momentum, although SHIB may face resistance at the June peak of $0.00002622. Support stands at the 23.6% Fibonacci level near $0.00002157.

SUI Claims New All-Time High

Sui, the native token of its layer-1 blockchain, reached a new all-time high of $3.14 after a 20% surge on Nov. 9. The asset maintains an upward trajectory, although its Stochastic Momentum Index at 79.1 signals overbought levels. Investors should watch for potential support at $2.75 if the asset faces a pullback.

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In conclusion, as the market is still showing bullish momentum from the previous week, investors should keep an eye on these crucial levels for any shifts in the trend or additional gains.

Trump-Themed Tokens Crash Post-Election

In brief, Trump-themed meme coins, such as TRUMP, MAGA, TREMP, and STRUMP, saw severe sell-offs after the U.S. election, losing more than 21% of their total market value as traders pulled out of the hype.

Election Day Drop for Trump Tokens

After the election, tokens themed around Donald Trump, such as MAGA and STRUMP, suffered major losses. The largest among them, MAGA, plunged by over 50% within 24 hours, taking its market cap from $212 million to $79 million. The sudden decline illustrates a classic “sell the news” response seen often in speculative assets.

Patterns of Meme Coin Hype and Sell-Off

Around well-known events, meme coins frequently experience abrupt sell-offs and quick increases. This is similar to Dogecoin’s 2021 trend, when it surged before Elon Musk’s SNL appearance before plummeting when the excitement subsided. Similar patterns were seen with Trump-themed tokens, where enthusiasm subsided nearly instantly following the election’s outcome.

PolitiFi Tokens in Decline

PolitiFi tokens—meme coins linked to political figures—have shown a trend of rallying pre-event and crashing post-event. Despite Trump’s election victory, these tokens dropped, suggesting waning interest among traders as the initial hype subsided.

Money Moves Into Big Cryptocurrencies

The decline in Trump-related currencies coincides with a market upswing, and money is probably moving toward Bitcoin and other well-known altcoins. In anticipation of future market expansion in popular cryptocurrencies, many traders seem to be shifting their liquidity into more stable assets as Bitcoin continues to reach new highs.

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Polygon Jumps 40% in a Week – Is a Push to $0.45 on the Horizon?

Polygon’s token POL has shot up by over 22% this past week and market vibes show it could climb even further and possibly hit that $0.45 mark soon. Analysts are debating on where this token is headed next. Crypto analyst Man of Bitcoin believes on its potential for more gains pointing to an Elliott wave 5 pattern that could mean another push up.

Polygon, also known as POL or MATIC is a very popular cryptocurrency and blockchain network designed specially to make Ethereum based projects more fast and cheap. Polygon assists on solving these problems through its “sidechains”, which are basically a chain of mini-networks running alongside Ethereum to handle transactions more efficiently. Additionally polygon tech also helps in development in DeFi apps, NFTs, and other projects without worrying about high fees. It is widely used by developers as it makes things much easier and it has a strong community supporting it.

POL token is on a uphill ride recently, with reaching over 40% gain in a single week. A Crypto analyst Man of Bitcoin says Polygon still has room left to rise, highlighting what’s called an “Elliot wave 5 pattern”. This pattern basically means a signal in technical analysis that hints the asset might be heading for another rally. In simple terms, it breaks through price movements into 5 different waves with the final “wave 5” often marking a strong push upward before any cooldown. So, if this works out POL can experience another boost pretty soon.

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Polygon Price Outlook

As the time of writing, Polygon’s token MATIC is priced at $0.4146  with a 24 hour trading volume of $23,890,287. This indicates an impressive 9.31% rise in the past 24 hour and an amazing 40.33% rise in the last seven days. It currently holds a circulating supply of staggering 2.6 billion MATIC tokens and covers a market capitalization of about $1.07 billion. Backed by its recent positive rise, its placed comfortably at the 92th position in worlds top crypto list.

Cronos (CRO) Surges After Google Cloud Partnership and New Roadmap Release

In brief

Following the release of a strategic roadmap and the announcement of a collaboration with Google Cloud as its primary validator, Cronos (CRO) saw a bullish spike, experiencing a 30% increase. The altcoin had been declining since March, but this rekindled investor interest and signaled a trend reversal.

After months of a bearish trend, Cronos (CRO) is back in the spotlight. On Nov. 6 and Nov. 7, two major announcements brought a wave of positivity and drove up CRO’s price. The Cronos community is optimistic, with many projecting continued gains.

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Key Features of the New Roadmap

A new roadmap was released by Cronos that included several significant enhancements: AI-Enabled Tools: It is expected that these tools would increase the efficiency of developing dApps. Token Burn Modifications and Protocol Updates: The token burn algorithm has been modified to make CRO more sustainable. Extension of CRO Use Cases: CRO will be used in dApp development and cloud computing payments.

Google Cloud Partnership

Google Cloud was introduced as the primary validator for Cronos. This partnership aims to improve network security and decentralization. Google Cloud’s support could increase Cronos’s appeal and usage, driving future growth.

Investor Sentiment and Market Performance

CRO’s price reached a five-month high of over $3 billion in market cap. Investor sentiment remains strong, with 86% of the CoinMarketCap community expecting further gains. Open interest in CRO futures increased by 28% over the past day.

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Technical Evaluation and Prospects

Technical signs point to caution even though CRO’s rise is picking up steam. CRO is overbought, indicating a possible market correction, according to the Relative Strength Index (RSI).Immediate support lies at $0.0772, near the middle Bollinger Band.

As a result of its new strategy and partnership with Google Cloud, CRO has revitalized its market position. Although current technical indicators suggest a possible decline, good fundamentals and bullish market sentiment provide a favorable outlook for CRO’s future course.

Notcoin’s 15% Surge Catches Investor Attention – Is More Growth on the Horizon?

Notcoin (NOT) just popped off with its double digit gain by showing a bullish falling wedge pattern on the charts. Tech indicators even suggest that it might be able to hit a consolidating phase soon. This spike doesn’t only point towards strong market vibes but also gives this token NOT, a chance to bounce back from its recent losses.

Notcoin is an altcoin, an emerging cryptocurrency that works on blockchain technology and basically represents a high-risk, high-reward opportunity typical of new or smaller cryptocurrencies. Its token is called NOT and its getting major traction lately.

According to CoinMarketCap’s data, Notcoin is looking over serious gains over the last week. Profits have risen up by almost 10% in seven days and that’s not all as the token’s price surged nearly 15% in the last 24 hours alone. However, despite this price hike only 479k NOT addresses are in profit which is mere 17% of the total number of addresses. But hope is not all gone as analysts believe this trend can most probably change soon.

Reportedly, NOT has just hit a key level after a major price jump. Crypto analyst World Of Charts even pointed out a bullish falling wedge pattern that has been cooking since June, with NOT now consolidating tightly. Clearly NOT is nearing a resistance test and if it manages to break out, it will quickly recover its past losses.

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NOT Price

As of the time of writing NOT token is trading at  $0.00783 with a 24 hour trading volume of $703,986,862. This indicates a 5.91% increase over the past 24 hour and an amazing 40.10% increase over the past week. This sort of increase is rarely seen in any altcoins, also with experts hyping this up, this really might be on verge of its next big surge in the market. It currently has a circulating supply of 100 billion NOT tokens and market cap of about $800 million.

Injective (INJ) Eyes Bold $100 Rally Following Bullish Flag Breakout

Injective (INJ) just blasted out a bullish flag pattern. Its reportedly setting sights on a midterm target of $66 and very soon looks towards going on a solid uptrend. It has already broken above its 200 day moving average. Right now its at a critical $22.5 resistance level and looks to break through it pretty soon which would result in even more gains.

Injective is attracting major attention towards itself with analysts supporting it by highlighting its potential bullish run coming soon. Currently trading at $ 22.7 this cryptocurrency is poised to break above to more high targets, with a midterm price forecast of $66.

One of the crypto analysts , Captain Faibik specially highlighted a bullish flag pattern breakout for injective. Injective had been suffering a constant decline as of recent and usually there is a reversal from a downtrend to an uptrend and recent momentum of it hints on a major breakout. Analysts believe if this continues on we could expect a very nice rally.

Analysts are absolutely hyped up about INJ hitting $66 midterm after breaking out of a bullish flag pattern which is usually a sign of strong accumulation before a big price move. Its getting full support from buyers as well as they are all stepping in which further pushes INJ closer to this target. Analyst Aqua notes that INJ just broke above the 200-day moving average , this is first time since April, which often hints at a trend reversal. Aqua also makes another positive remarks by stating he believes INJ could surge past $100 in the coming months.

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Cardano Soars as Bitcoin Nears $80K

An overview

Cardano (ADA) is now a top gainer, exhibiting strong upward momentum in the cryptocurrency market as Bitcoin reaches new highs following the election.

Cardano’s 33% Surge

For the first time in seven months, Cardano (ADA) surged by 33% in a 24-hour period, making it the best performer among the top 100 cryptocurrencies. Reaching a peak of $0.594 earlier today, ADA’s value has significantly increased, with its current trading price at $0.57. Cardano’s market cap now stands at $20 billion, making it the ninth-largest digital currency, with daily trading volume surpassing $2 billion.

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The Record Highs of Bitcoin

Following Donald Trump’s triumph, Bitcoin continued to rise, hitting an all-time high of $79,780 at 05:43 UTC today. Bitcoin is currently selling at $79,000 with a market value of $1.58 trillion and a supply of 19.78 million, as some investors start to take profits.

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Market Overview

The total crypto market cap now stands at $2.85 trillion, rising by $420 billion in the past week. Trading volume across the market has reached $172 billion over the past 24 hours, reflecting heightened investor interest.

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JUP and Uniswap Primed for Growth as This AI Crypto Soars 400% – Local Bottom Signals Potential Surge

After recent market dips, JUP and Uniswap are showing rebound potential. Returning with JUP oversold and UNI nearing resistance, meanwhile, CYBRO’s token presale has also already shot past $4 million, with whales eyeing it as a unique NeoBank investment offering potential 1200% ROI. CYBRO’s points system also contains exciting perks like airdrops and high staking rewards system. With only 21% of tokens left in presale, this CYBRO’s AI-powered platform on Blast blockchain certainly does stand out as a game-changer in DeFi.

After overall market falling out recently some cryptocurrency are showing strong signs of comeback. Jupiter (JUP) and Uniswap are in line to prove themselves and together with them comes the impressive $4 million surge of CYBRO and this momentum doesn’t seem to slow down any time sooner. This article delves more deeply on how CYBRO can be the next big thing.

Jupiter (JUP) Poised for a Comeback Following Recent Market Dip

Jupiter (JUP) has been trading between $0.79 and $1.03 for quite some time now. It is sitting below 10-day and 100-day averages, hinting at a short-term downtrend. But stochastic say something else, by sitting at 22.92 it is possibly oversold and could see a rebound very soon. RSI is neutral at 50.25 and if JUP breaks resistance at $1.18, it will be just enough to push up to $1.42 which is about 38% gain. However, if it drops under $0.70, it could test support at $0.46.

Uniswap (UNI) Approaches Key Resistance Level

Uniswap is on a constant rise up, crossing over 10% in the past week and nearly 24% in a month. Currently its trading between $6.49 and $7.97 and is looking to close on a key resistance at $8.89. It keeps it on with a chance to push higher up to $10.38 if it breaks through. It is just under its 10-day average of $9.05 but is close to its 100-day average which shows possible resistance.With a low stochastic at 12.09, UNI also seems oversold and so, investors are waiting to see if it can break out or drop back to $5.91 support.




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