Kategorie: Crypto Markets

Key takeaways

• MCADE is up by more than 13% over the last seven days and is now trading above $0.024.

• The rally comes as the crypto market recovers thanks to the debt ceiling agreement over the weekend. 

The cryptocurrency market has underperformed for the best part of May. Bitcoin, the world’s leading cryptocurrency by market cap, is down by nearly 5% since the start of the month.

However, the market has had relief this week, with Bitcoin up by more than 3% over the past few days. MCADE, the native coin of the Metacade ecosystem, is also up by more than 6% in the last seven days.

The imminent debt relief vote in the United States has seen the sentiment in the market become positive.

US debt ceiling vote set for tomorrow

An agreement was reached between President Biden and the House leadership on the United States debt ceiling over the weekend. The House leadership has agreed to suspend the federal government’s $31.4 trillion debt ceiling.

While the deal was struck between McCarthy and Bide, it still has to pass through Congress later this week. The vote is expected to take place tomorrow, May 31st, before the United States runs out of money to pay its debts on June 1st.

Bitcoin and others rally following the debt ceiling deal

The cryptocurrency market was in a bearish mode earlier this month as investors continued to fear that a deal would not be agreed. 

The deal brought optimism to the market as it indicated that the United States would not default on its debt. A US default could result in a recession, and that could see the cryptocurrency market and other financial markets record massive losses. 

Bitcoin and other cryptocurrencies have performed well since the deal was announced over the weekend. Bitcoin touched a low of $25,800 last week but has since renounced and moved past the $28k level on Monday. At press time, the price of Bitcoin stands at $27,710, up by less than 1% over the last 24 hours.

MCADE rallies by 13% in the last seven days

MCADE, the native token of the Metacade ecosystem, has performed well over the past few days. The token has added 13% to its value over the last seven days, outperforming the broader cryptocurrency market.

Metacade is currently trading at $0.0248 per coin and is close to the $0.034 all-time high price it set a month ago. 

MCADE could rally higher in the near term if the fundamentals of the broader cryptocurrency market continue to improve. In addition to being listed on popular exchanges, including Uniswap, MEXC, and BitMart, the Metacade team is preparing to launch the Metacade Lite in two days. 

Metacade Lite is set to offer users the first experience of the app UX. It will offer users a selection of both Web2 and Web3 games. Users will have an idea about the GameFi ecosystem Metacade is building. 

Metacade continues to pride itself as a unique GameFi project that seeks to grant its users exciting gaming adventures. With its plan to transition into a DAO in 2024, MCADE could record massive gains as the Metacade project gains adoption. 

Is Metacade a good investment?

MCADE has outperformed the broader cryptocurrency market over the last seven days, adding more than 13% to its value during that period.

With this sentiment improving, the crypto market could record more gains, and MCADE could be one of the biggest winners. 

MCADE has been performing well since the presale event was concluded, where the development team raised $16 million. 

For investors, Metacade could be an exciting project as the development team continues to work to launch its GameFi platform. The team is also working hard to get MCADE listed on numerous cryptocurrency exchanges. 

With such plans in place, MCADE could be on track to record gains over the next few months and years. Metacade is still very much in its development phase and could prove to be an excellent investment for early investors. 

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• Nvidia’s march to a $1 trillion market cap has been helped by the AI boom.
• The company joins Apple, Microsoft, Alphabet, Amazon and Saudi Aramco in this exclusive club.
• Crypto AI tokens like Render, SingularityNET, Fetch.ai and Akash Network have also surged amid the AI hype.

Nvidia Corp (NVDA) joined an elite club of U.S. companies sporting a $1 trillion market value on Tuesday, as investors piled into the chipmaker that has quickly become one of the biggest winners of the AI boom.

The growing positive forecasts around AI are also cascading into the ecosystems of leading artificial intelligence-powered cryptocurrencies. Many of these rose on Tuesday.

Akash Network (AKT), which provides an open and P2P marketplace for cloud resources, saw the native token rise nearly 20%.

Dynex (DNX) , a neuromorphic supercomputer, rose 35%. Meanwhile, top AI tokens that have soared in recent weeks amid the broader market hype including Render (RNDR), SingularityNET (AGIX) and Fetch.ai (FET) all gained more than 5%.

Nvidia’s march to $1 trillion market cap

Nvidia, for a long time the leading maker of video game graphics cards, has seen its valuation more than double in the past six months. The company’s fortunes in the market have spiked amid the huge demand for generative AI tools takes the world by storm.

Now the company is looking to establish itself in the exclusive club of just five, four being US companies, valued at $1 trillion or more. Market analyst Holger Zschaepitz pointed this out in a tweet.

As of May 2023, this club is led by Apple, which currently has a market cap of over $2.8 trillion.  Microsoft Corp is valued at $2.47 trillion, Alphabet at $1.57 trillion and Amazon at $1.24 trillion. The non-US company in this category is oil giant Saudi Aramco. 

Tesla, Meta, and PetroChina, a Chinese oil giant, previously hit this milestone.

The post Nvidia’s $1 trillion valuation sees crypto AI tokens surge appeared first on CoinJournal.

Key takeaways

• AltSignals has raised more than $840k in its presale.

• The ASI token is going for $0.015 during the presale and could rally higher once it lists on exchanges. 

The cryptocurrency market has been performing well since the start of the week. The prices of most coins and tokens are trading in the green zone. Indicating that the market sentiments have improved. 

The rally comes thanks to the debt ceiling agreement in the United States. With Bitcoin and other cryptocurrencies performing well so far, it would be intriguing to look at the price prospects of tokens in presale like AltSignals.

AltSignals recently crossed a new threshold in its funding effort. The development team has raised more than $800,000 so far and could achieve its objective soon. With that possibility in mind, investors would be watching the project and see how its price would perform in the near term. 

AltSignals token set to hit the desired milestone soon

Artificial intelligence (AI) is all the rave this year. Following the launch of ChatGPT and other AI products, more companies are leveraging AI to optimise their activities.

The cryptocurrency market is not left behind. AltSignals is one of the projects that is set to allow traders to leverage AI to boost their trading activities. 

AltSignals is developing a suite of AI products designed for cryptocurrency traders. To achieve its goal, the development team has set a $1 million presale target. So far, AltSignals has raised $847,035 in its presale and is close to hitting its target. This means that it has raised 78% of its required funding. 

ASI, the native token of the AltSignals ecosystem, is trading at $0.015 per token, making it very affordable to most investors. The token could probably experience a surge in price once the presale is over and it lists on decentralised and centralised crypto exchanges. 

What is AltSignals?

AltSignals is an exciting project that could prove to be beneficial to cryptocurrency traders. Its impact could surpass the crypto space and affect forex, stock, commodities, and indices traders. 

AltSignals is a trading platform that provides trading signals for cryptocurrencies, forex, indices, stocks, and commodities. 

The team will use the funds it raised to develop ActualizeAI, a solution that could make it easier for people to trade cryptocurrencies and a few other asset classes. 

According to its whitepaper, ActualizeAI will be fully automated and work 24/7, just like the cryptocurrency market. The solution could make it easier for traders to pinpoint e entry points in the market, execute more accurate trades, and take advantage of proper risk management strategies. 

Holders of the ASI token would be granted access to the numerous services offered by AltSignals. The AI integrated within AltSignals’ will take advantage of other technologies like natural language processing, machine learning, regression, and predictive modeling to improve its services. 

AltSignals will also include other exciting features like an AI members club, trading tournaments, community governance, and more. Following the end of the presale, ASI is expected to launch on exchanges like Uniswap. 

The development team will also work on expanding the team, securing OTC partnerships, and introducing the sentiment analysis engine. 

Visit the official AltSignals website to learn more about their presale.

AltSignals (ASI) price prediction

ASI is still in its presale stage, which means it is hard to accurately predict its price movement. At the moment, ASI is going for $0.015 in its presale.

However, based on history, ASI’s price could experience a price pump once the presale concludes. 

One of the major factors behind a surge in the price of cryptocurrencies is when they list on crypto exchanges. ASI would be listed on Uniswap and a host of other crypto exchanges once the pre-sale is over. This could see ASI’s price record a massive surge. 

Another reason to predict a surge in ASI’s price is the fundamentals of the broader crypto market. Since the start of the year, Bitcoin and other leading cryptocurrencies have rallied by at least 50%. 

The crypto market is still down by more than 50% from the all-time high recorded in 2021. This implies that there is still room for recovery. ASI launching during this period could see it record massive gains as the broader crypto industry continues to recover from the bear market. 

A third reason could be the utility of AltSignals. Cryptocurrency trading is a multi-billion dollar industry. There are thousands of traders in the cryptocurrency space, and a tool like AltSignals could gain wide adoption amongst the traders.

If AltSignals gains wide adoption, ASI could see its price explode in value over the next few months and years.

Is now a good time to buy AltSignals?

AltSignals is in its presale stage, and this could be an excellent time to invest in the project. If the team delivers on its promises, AltSignals could become a major project in the cryptocurrency trading space. 

ASI could become a big winner in the crypto space if the broader cryptocurrency market continues its recovery and rally to a new all-time high. 

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• IOTA price rose as high as $0.22 as Bitcoin retested $28k for the first time in weeks.
• Ethereum price also rose on Tuesday, breaking above $1.9k as sentiment on US debt ceiling deal buoyed markets.
• IOTA price is out of a descending triangle but needs to hold above $0.20 to maintain the upside advantage.

IOTA price rose as high as $0.22 on Tuesday as sentiment flipped positive for the Tangle token. 

As of writing, the IOTA/USD pair was trading around $0.21 about 5% up in the past 24 hours and over 20% up in the past month. Indeed, IOTA’s gains over the past day had seen the token tap a one-month high, with the last time it traded above $0.22 being in mid-April.

IOTA gains as Bitcoin tests $28k

The gains for IOTA coincided with an uptick for Bitcoin price, with BTC surging to above $28k for the first time in nearly three weeks. The upside for the bellwether cryptocurrency happened amid a flip in investor sentiment across the broader market as the US struck a deal to raise its debt ceiling and avoid default.

Ethereum notched gains to above $1,900 and XRP broke above $0.50 as the community eyed the outcome of the Ripple vs. SEC case.

IOTA price outlook: What next for IOTA/USD?

The technical perspective for IOTA price shows a consecutive four-day bounce on the daily time frame. IOTA/USD has broken out of a descending triangle that had price restricted below $0.20.

But as can be seen on the chart below, the RSI has pierced the overbought line and indicates the potential for a retest of the trendline. 

While the MACD is positive and indicates momentum remains with the buyers, failure to turn $0.20 into support could welcome bears to target $0.17.

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