Kategorie: Altcoin News

• The Binance news saw all three altcoins nosedive double-digits.
• Serum (SRM) was down 29%, Sonm (SNM) shed 58% and DFI.money (YFII) declined by 16% in 24 hours.
• Trading on all pairs for the tokens will end on August 22, 2023.

Serum (SRM), Sonm (SNM) and DFI.money (YFII) are among the biggest losers in the crypto market today. As of writing, SRM, SNM and YFII have all plummeted double-digits.

Binance to delist SRM, SNM and YFII

Binance announced on Tuesday that it will “delist and cease trading on all trading pairs” for Serum, DFI.Money and Sonm from its platform on August 22. The exchange noted in a notice to customers that the delisting is part of its period review of every listed digital asset.

“When a coin or token no longer meets this standard, or the industry changes, we conduct a more in-depth review and potentially delist it. We believe this best protects all our users,” the exchange said in a general announcement.

Although Binance did not specify the reasons for removing support for each of the altcoin, it did cite certain metrics considered during the periodic reviews. These include team commitment, development activity, trading volume and liquidity and network safety with regard to attacks.

Market reaction plunges affected altcoins

According to data from CoinGecko, Sonm has seen the most declines in its 24-hour performance as it traded 58% down around 9.45 am ET. The token was changing hands for around $0.105392.

Serum has nosedived 29% in the same period to just above $0.05 to see its 7-day returns reach -35% and over 50% in the past 30 days. Serum, a project linked to FTX and Alameda Research, is down 99.6% from its all-time high above $13 hit in September 2021.

Elsewhere, DFI.money, which is a yield farming aggregator forked from yearn.finance, was down 16% in the past 24 hours to trade around $605. YFII has declined by more than 24% in the past month and traded at a level that’s more than 93% down from its ATH of $9,251 reached in September 2020.

Declines for the three altcoins come as most of the top 20 assets by market cap continued to trade flat, with Bitcoin constrained below $30k and Ethereum unable to breach $1,900. 

The post Binance delisting news plunges SRM, SNM and YFII tokens appeared first on CoinJournal.

• Shiba Memu presale is closing in on $2 million mark, with nearly $1.9 million already raised.
• Interest in the AI-powered crypto meme coin has soared in recent weeks.
• Early investors into the project could benefit from potential long term gains.

Few crypto projects currently boost the amount of attention that Shiba Memu, a new meme coin powered by artificial intelligence, is seeing in the market. 

As Bitcoin and major altcoins continue to stall at key levels, this crypto project’s presale is attracting massive interest and is on the verge of clocking the $2 million raised milestone.

But what’s making Shiba Memu a likely gem for early investors? We assess below.

Shiba Memu and the meme coin hype

Pepe (PEPE) and Shiba Inu (SHIB) and Floki (FLOKI) have been some of the crypto meme projects to attract huge traction this year. Given how popular these tokens have become, it might be difficult for a new project taking a similar approach to steal some of the fervour and build a community to rival these meme coin leaders.

Yet Shiba Memu is looking to achieve just that using a self-marketing strategy powered by AI. While the likes of PEPE and FLOKI need a significant input of human-driven hype to promote themselves to the community, Shiba Memu will leverage a cutting-edge AI dashboard to reach the global market.

As such, what top meme coins have been able to achieve with traditional marketing strategies could be improved upon manifold by Shiba Memu’s groundbreaking system. Does this mean the project has the capacity to challenge the likes of Dogecoin, Shiba Inu and Pepe?

Most probably, with all the buzz around the project as seen during the ongoing presale. It all suggests investors see Shiba Memu as having long term investment potential.

How Shiba Memu plans to tap into AI technology

Artificial Intelligence is making waves across the tech industry, pulling in billions of dollars’ worth of investment from global giants Microsoft, Meta, Google and Apple among others. Companies such as Nvidia and Palantir have also bet big on the potential for AI to drive revenues and adoption.

It’s a trend also seen across crypto, with crypto AI a new narrative that’s driving applications in trading, decentralised cloud computing, and prediction markets. It’s along these lines that Shiba Memu is looking to become the top AI-powered dog meme coin.

For instance, an automated marketing dashboard will use natural language processing, predictive analytics, sentiment learning and image and video recognition to intelligently target new markets for the native SHMU token. 

Akin to a puppy learning new tricks every day, AI is forecast to polish Shiba Memu into what could become the dominant meme coin.

Is buying Shiba Memu today a good investment move?

The Shiba Memu presale currently has SHMU priced at $0.020125. The project has so far raised nearly $1.9 million even as the token’s value has increased from $0.011125 when the token sale launched a few weeks ago.

Notably, and perhaps more appealing to investors is that the token’s value is programmed to increase every day at 6 pm GMT. It will eventually hit $0.024400 for a total of 119% upside from that presale debut price. Going past key levels such as $0.1 and $0.5 on market debut could mean gains of between 310% and 1,950%.

As with every other investment, the key is to acknowledge the risks involved versus the potential reward. This also applies to Shiba Memu, which as noted, is a new crypto project looking to revolutionise an industry that is very nascent.

However, given the projections for both crypto and AI, the latter from tech giants such as Microsoft, suggests putting some money into Shiba Memu as part of an investment portfolio could be worth it down the road.

Learn more about Shiba Memu here.

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• Taraxa (TARA) has pumped more than 35% in the past 24 hours.
• TARA, native to the BlockDAG-powered smart contracts platform, has outperformed by over 800% in the past one week.

Taraxa (TARA) is one of the trending cryptocurrencies today, with its price hitting intraday highs of $0.014 on Wednesday. 

The outperformance seen on the day dwarfed most altcoins in the top 500 by market cap list, with the intraday pump including over 35% in the past 24 hours.

What’s next for TARA price after monstrous gains?

Taraxa, an EVM-compatible smart contract platform that launched via an ICO in March 2021, traded to the all-time high of $0.07 that month. However, with the crypto winter, the blockDAG-based platform’s native token plummeted to near $0. It remained constrained around $0.001 until August 1 when it suddenly exploded.

TARA’s upside over the past week comes as the community responded to the potential of AI integration with an efficient BlockDAG-powered layer-1 blockchain. Usage and adoption across social analytics, dApps development and multi-layered IP licensing look to be aiding the positive outlook for the token.

A recent AMA by the team also looks to have shone some spotlight on the token.

According to data from CoinMarketCap, Taraxa’s daily trading volume rose nearly 200% to over $12.46 million as bulls tested the price level last seen in December 2021. The gains have TARA trading more than 800% up in the past week, with performance over the past 30 days accumulating to 1,021% at the time of writing.

The downside nonetheless presents the past of least resistance and a retreat to support at the $0.006 mark could open up a bearish flip to $0.002.

The post Taraxa (TARA) price is up 800% this past week: Why is TARA pumping? appeared first on CoinJournal.

• Akash Network price was up 12% in the past 24 hours.
• The AKT/USD pair reached highs near $0.70, and needs to flip the hurdle into support to strengthen upside momentum.
• Hype around AI and cloud computing could add to the bullish outlook.

Akash Network, a decentralized marketplace for cloud computing, has seen the price of its native token AKT jump by more than 12% in the past 24 hours.

While the resistance level at $0.70 remains key for bears, bulls’ sharp bounce over the past day has AKT trading in a positive trend. With altcoins also mirroring Bitcoin’s trajectory, the latest upsurge could be the base for a fresh attempt at recapturing the coveted $1.00 level.

Akash Network price prediction

Selling pressure saw AKT lose the important $1.00 level in May 2022, with lows of $0.22 reached in May this year. Since then, bulls have hit the $0.75 zone twice in the past two months. However, rejection at the level meant a retest of support at $0.50 in mid-July.

Prices have however remained above an ascending trendline support, suggesting bulls are still determined to reclaim the upper hand. If price breaks above $0.75, it could go on to retest the supply wall expected at $1.00.

Part of the Akash Network’s bullish momentum is likely to come from the launch of its Akash GPU mainnet. After successfully navigating the testnet in May, with multiple AI models tested on the NVIDIA A100, Akash moved a step closer to offering the first open-source marketplace for HD GPUs. 

NVIDIA H100s remain in record-high demand, but distribution is still limited and inefficient.

The launch of the Akash GPU Mainnet is almost here, which will create the first open-source marketplace for high-density GPUs.

The world is ready for the #AISupercloud. https://t.co/y6OTupy9iZ

— Akash Network (@akashnet_) August 3, 2023

Excitement for what could be AI Supercloud, fueled by massive predictions for the artificial intelligence industry, will likely cascade into the AKASH market.

The post Akash Network price outlook: can bulls push for $1? appeared first on CoinJournal.

• The Hedera (HBAR) token price has increased by 16% over the past week.
• Hedera (HBAR) recently announced a strategic partnership with FreshSupplyCoAu to integrate with the Continuity API.
• The integration allows Hedera users to access Mastercard Payment Gateway Services (MPGS).

The Hedera (HBAR) has been trending within the crypto circles for its consistent price rally since mid-July.

The HBAR token price has reclaimed its July Highs after a short pullback between July 20 and July 25.

Here’s why the HBAR price is rising

The current Hedera (HBAR) price surge is largely pegged on the recent strategic partnership between Hedera and FreshSupplyCoAu to integrate with the Continuity API and enable seamless connections to banks and the Mastercard Network.

According to a tweet from the HBAR Foundation, FreshSupplyCoAu, a pioneer in the field of digital innovation, will see significant improvements by seamlessly integrating Hedera into its Continuity API. By integrating with the Mastercard Network, this dynamic fusion extends the reach of the Hedera network by connecting it to the traditional banking system.

Users can now access Mastercard Payment Gateway Services (MPGS) and other upcoming Hedera Foundation projects, including their cutting-edge Web3 and digital asset solutions, thanks to the integration. The move represents a strategic step towards enhancing the usability and interoperability of Hedera rather than merely a development in technology.

The initiative from FreshSupplyCoAu is ready to create new opportunities for efficiency, accessibility, and value for both individual users and businesses.

The FreshSupplyCoAu integration is just the tip of the iceberg. The vision of the Hedera Hashgraph blockchain includes more collaborations and innovations to continually bridge the gap between decentralized finance and traditional finance. The blockchain was recently tapped by Kia and Hyundai automakers for an AI-powered CO2 emission monitoring system

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