Monat: Juli 2023

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Best AI cryptocurrencies to invest in: Shiba Memu, SingularityNET

  • Artificial intelligence is the biggest theme in the market this year.

  • Most companies have unveiled their artificial intelligence plans.

  • Shiba Memu and SingularityNET are some of the best AI coins.

Artificial Intelligence (AI) has become the fastest-growing technology in the world. In the corporate scene, companies like Nvidia, Microsoft, and C3.ai have seen their stocks surge this year. Nvidia, a GPU manufacturer, has seen its market cap surge to over $1 trillion.

Many companies have unveiled their AI plans. Microsoft has launched a suite of AI tools, including Copilot. On Tuesday, the company revealed pricing of these products, with a monthly subscription of Copilot going for $30. Google has launched Bard while Elon Musk has launched xAI. In this article, we will look at the best AI cryptocurrencies to buy.

Shiba Memu (SHMU)

Shiba Memu is a new cryptocurrency that has a lot of potential. Currently in presale, the developers have raised almost $1 million in less than three weeks. This makes it one of the fastest-growing cryptocurrencies this year.

Shiba Memu, as you can see in this white paper, is a cryptocurrency that is at the intersection of two trends: artificial intelligence and meme coins. As the name suggests, the token as inspired by Shiba Inu, the second-biggest meme coin in the world. 

Shiba Memu will have some AI tools. For one, it will be the first crypto platform to use AI to market itself. In this, the network will learn new marketing strategies, create its own press releases, and promote itself across all popular social networks. The goal is to create a platform that is self-reliant and transparent in the market.

All this content will be shown in the intuitive Shiba Memu dashboard. This dashboard will show the performance of its content and identify key trends.

There are three main reasons why Shiba Memu’s token will do well. First, as mentioned, it is in the two popular industries this year. Second, the token has the momentum it needs to become the next big thing. In this, it has raised over $977k within a few days. Finally, it could jump because of the macro element since America’s inflation is falling.

You can buy the Shiba Meme token here.

SingularityNET (AGIX)

SingularityNET is another AI-focused cryptocurrency to buy. AGIX, its ecosystem token, is one of the top-performing cryptocurrencies this year, having gained by over 500%. 

SingularityNET is a Cardano–based blockchain that is creating a platform for decentralized artificial intelligence. Its ecosystem is made up of projects that are changing the industry in a large scale.

For example, there is Rejuve.ai, a platform that is focused on longevity research. It has built a decentralized network of researchers, clinicians, and data contributors. 

Other parts of the network’s ecosystem are Awakening Health, SingularityDAO, Cogito, and Nunet. Cogito is building a new class of digital assets known as tracercoins that leverage risk-weighted reserves and AI-powered stabilization.

SingularityNET is a good AI coin to invest for two main reasons. First, unlike many other cryptocurrencies, it has a real ecosystem that is growing. Second, the token has a proven track record of performance. 

The post Best AI cryptocurrencies to invest in: Shiba Memu, SingularityNET appeared first on CoinJournal.

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Actor Ben McKenzie says crypto is like a ‘Ponzi scheme’

  • McKenzie says cryptocurrencies resemble an MLM scheme.
  • He calls for the need to better regulate and license this market.
  • Bitcoin is currently up a whopping 80% versus the start of 2023.

An 80% year-to-date rally in Bitcoin is not enough to substantiate the legitimacy of cryptocurrencies for actor Ben McKenzie.

McKenzie dubs crypto an MLM scheme

McKenzie does not see cryptocurrencies as financial assets per se.

He views them more as a “story” that can be pushed out of existence if people stopped believing in them. On CNBC’s “Squawk Box”, the actor who played James Gordon in “Gotham” said:

Crypto resembles a Ponzi scheme or multi-level marketing scheme. In MLMs, 99% of people lose and 1.0% benefit. In crypto, it’d be exchange owners, VC firms, people that issue the coins.

Still, the U.S. Securities & Exchange Commission has recently received several applications including from BlackRock Inc for a Spot Bitcoin ETF that signal institutional interest in BTC.

McKenzie says regulation will help

Last month, the regulator sued both Binance and Coinbase Global Inc for violating U.S. securities laws.

According to Ben McKenzie, greater regulation and more sophisticated licensing could indeed help turn crypto into a proper financial market.

You’re talking about an unregulated, unlicensed market run through shell corps in Caribbean. Crypto has benefitted from gray area between how we classify securities and commodities.

The veteran actor is even more bearish on cryptocurrencies other than Bitcoin as the latter is at least limited in terms of supply. Also on Tuesday, Professor Carol Alexander of Sussex University said BTC could hit $50,000 by the end of 2023.

The post Actor Ben McKenzie says crypto is like a ‘Ponzi scheme’ appeared first on CoinJournal.

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Shinhan Bank, SCB TechX pilot cross-border stablecoin payments on the Hedera

  • Shinhan Bank and Siam Commercial Bank’s SCB TechX recorded real-time, low-cost remittances.
  • The pilot on the Hedera network involved cross-border stablecoin payments using South Korean won (KRW), the Thai Baht (THB), and the New Taiwan dollar (NTD).

Shinhan Bank and Siam Commercial Bank’s SCB TechX have reportedly completed a proof-of-concept (PoC) pilot for stablecoin remittances on the Hedera network.

This was the second PoC test on Hedera’s distributed ledger network after the initial program launched in 2021 and which involved Standard Bank. In this latest pilot, the company sought to check on the efficiency, cost and settlement speed of cross-border payments.

According to details shared in a press release, the banks achieved real-time foreign exchange settlement across three currencies – the South Korean won (KRW), the Thai Baht (THB), and the New Taiwan dollar (NTD).

 Shinhan Bank’s Chief of Blockchain division Byunghee Kim said in a statement:

“The successful completion of this second PoC marks an important step forward in our efforts to make cross-border payments faster, cheaper, and more accessible to people around the world… With this next phase of PoC, we are pleased to have demonstrated how the use of Hedera’s EVM-compatible technology helps eliminate intermediaries, reduce costs, and speed up the remittance process.”

EVM-compatibility for the PoC means the system will be open to any EVM-based stablecoin issuers, with this likely to also see more banks and other financial institutions tap into its potential as the cross-border payments ecosystem expands.

The post Shinhan Bank, SCB TechX pilot cross-border stablecoin payments on the Hedera appeared first on CoinJournal.

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United States SEC officially accepts Valkyrie Spot Bitcoin ETF application

  • The US SEC has been receiving Bitcoin ETF resubmissions after it rejected previous applications for inadequacy.
  • Valkyrie Bitcoin Fund was the last company to submit a Bitcoin ETF application to the SEC.
  • The SEC has accepted several other BTC ETFs after the respective companies amended and resubmitted.

The US Securities and Exchange Commission (SEC) has officially accepted the Valkyrie Spot Bitcoin ETF application, marking a momentous step towards embracing BTC ETFs.

Besides marking a turning point for the entire crypto industry, SEC’s move suggests a potential turning point for widespread crypto adoption in the biggest economy in the world. If approved, the Valkyrie Spot Bitcoin ETF will be the first of its kind, providing investors with exposure to Bitcoin without requiring them to hold any physical cryptocurrency.

Crypto industry preparing for Bitcoin ETFs

The SEC accepted Valkyrie’s amended BTC ETF application after rejecting previous Bitcoin ETF applications noting that they were inadequate. The public has 21 days to comment after the Federal Register notice is published after which the public input will be reviewed.

Eric Balchunas, a senior ETF analyst at Bloomberg, immediately took to Twitter to spread the word after the US SEC approved Valkyrie’s application to register a spot Bitcoin ETF. Valkyrie was the very last company to apply for approval of spot Bitcoin ETFs in the flurry of companies that did. He added that the “BRRR” ticker was chosen by the Valkyrie Bitcoin ETF for its Nasdaq debut.

Other Bitcoin ETF applications that have been accepted by the SEC include applications made by Fidelity Investments, WisdomTree, VanEck, Invesco, and ARK 21Shares. This clearly shows that the SEC is considering the applications.

Approving the Bitcoin ETFs would be a major victory for the cryptocurrency industry in addition to the recent Ripple Labs win against the SEC.

The post United States SEC officially accepts Valkyrie Spot Bitcoin ETF application appeared first on CoinJournal.

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Ripple invests in $54M round for AI-metaverse firm Futureverse

  • Ripple invested in the $54 million series A round for Futureverse. 
  • 10T Holdings led the funding round, which Futureverse says will go into scaling AI and metaverse technologies.
  • Ripple has integrated Futureverse blockchain The Root Network and will see use of XRP as gas token.

Futureverse, a company leveraging artificial intelligence (AI) and metaverse technology to advance growth in the gaming industry, has closed a $54 million series A funding round.

The round was led by 10T Holdings, a leading late stage growth equity fund, and attracted the participation of Ripple. Futureverse plans to deploy the funds towards initiatives targeted at scaling AI and metaverse technologies.

Per today’s announcement, the company plans to tap into the partnership with 10T and Ripple “to take the metaverse from an abstract idea to a practical, accessible, and interactive destination.”

Futureverse’s AI-metaverse ecosystem

Futureverse has plans to become the world’s largest metaverse AI technology provider, layer 1 architect and creative studio. According to the company, this goal includes creating tools that support an open, scalable and interoperable infrastructure.

It is a goal that has seen it quietly roll up 11 startups into one ecosystem that’s currently among the largest collaborative ecosystems for the metaverse. Some of these companies include AI-protocol Altered State Machine, creative studio Non-Fungible Labs, decentralized communications protocol Sylo, and digital asset payments SDK Centrapay.

As part of the push to form a leading metaverse community, including for AI gaming powered by digital collectibles, Futureverse recently partnered with FIFA to launch an AI-powered consumer game dubbed AI League. 

The company also has a partnership with Muhammad Ali Enterprises in a deal set to see them launch “Muhammad Ali – The Next Legends”,  which will become the first-ever AI-powered boxing game.

Partnership with The Root Network and Ripple

As well as other key collaborations, Futureverse is looking to tap into the benefits of blockchain technology via the integration of its The Root Network and Ripple’s XRPL. 

The Root Network is a blockchain and suite of protocols offering ready-made runtimes. Developers will be able to tap into this platform to build next-generation metaverse apps and games, the company noted.

The integration with XRPL allows for XRP to be used as a gas token and the XLS-20 NFT standard, the two companies said in a statement. And in a comment, Monica Long, president of Ripple, said:

“We are excited to continue to support the Futureverse vision and celebrate the Root Network’s integration with the XRP Ledger. While we’re at the earliest stages of what a project like this — and really the larger concept of the metaverse — can achieve, we at Ripple are thrilled to contribute to the foundational infrastructure layer and provide real utility to the end users of the open metaverse.”

The post Ripple invests in $54M round for AI-metaverse firm Futureverse appeared first on CoinJournal.