Altcoin
Here’s Why AI Coins NEAR, RNDR, & Others Are Rising Today
![](https://coin2049.io/wp-content/uploads/2024/06/Bullish-AI-Coins.jpg)
In an unprecedented development, AI coins have seized the spotlight today, June 20, defying the broader trend. Notably, Near Protocol (NEAR), Render Network (RNDR), Fetch.ai (FET), SingularityNET (AGIX), and other AI coins’ prices have soared remarkably in the past 24 hours, coinciding with a plethora of advancements across the AI industry. These advancements encompass numerous developments by industry prominencies, including xAI, Nvidia, and Pantera Capital.
Here’s a brief report on the recent AI-related developments that most likely triggered a price upswing in AI coins.
Nvidia, xAI, & Pantera Mark Monumental Strides In AI
It’s crucial to note that NEAR price surged by nearly 5% today, RNDR by 2%, while AGIX and FET saw a significant rally of 24%-28%. Other tokens like GRT, TAO, INJ, and THETA also made gains of 3%-6%. This surge in AI coin prices is in lockstep with the attention-grabbing AI developments by xAI- Elon Musk’s AI startup, Nvidia- the GPU and AI chip manufacturing giant, and Pantera Capital- a VC and hedge fund specializing in blockchain and crypto technology.
Pantera Capital Invests $200M in AI
Amidst the recent global AI boom, the leading hedge fund in the crypto sector announced to to invest a whopping $200 million in AI. This decision comes riding on the optimistic wave of a potential intersection between the AI and the crypto sectors in the coming years.
Musk’s xAI Forges Ahead
In the interim, xAI embarked upon a couple of AI-related developments. xAI’s generative AI model Grok is tapping into Midjourney AI for image creation purposes. Additionally, a recent statement by Dell Technologies CEO Michael Dell revealed that the firm is working with Nvidia to build an AI factory that powers xAI’s Grok.
In sync with the global race for AI, these developments have further echoed optimism across the sector.
Nvidia Market Value Tops All Others
Meanwhile, Nvidia has recently secured a ranking as the most valued company with a $3.33 trillion market cap. The AI chip manufacturing giant overtook Microsoft, in turn making its CEO Jensen Huang the 11th richest person across the globe.
Nvidia’s (NVDA) share price, a stock correlated to the AI coins sector, rested at $135.58, up 3.51% in pre-market hours.
These developments collectively, underscoring AI’s burgeoning adoption and growth, have propelled a price rally in coins leveraging this tech.
Also Read: VanEck Bitcoin ETF Debuts on Australian Stock Exchange ASX, Will It Get US-Like Response?
NEAR, RNDR, AGIX, & Others Rally
According to CoinMarketCap’s data, the market cap of AI & Big Data tokens saw a notable 5.28% increase in the past 24 hours.
NEAR price rallied 5.01% to trade at $5.31.
RNDR price jumped 2.65% to $8.10.
FET price rallied by a staggering 27.95% to trade at $1.66.
AGIX price surged 24.58% to reach $0.6715.
Also read: XRP Price Forecast: Whales Shift 52M Coins Amid Price Recovery
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Altcoin
Pepe Coin Correction Prompts Over 1 Tln PEPE Dump, Bull Run Over?
![](https://coin2049.io/wp-content/uploads/2024/05/PEPE-Meme-Coin.webp.webp)
In an unprecedented turn of events, Pepe coin has raised severe investor concerns by showing signs of a price correction today, July 5. Recent on-chain data indicated that over 1 trillion PEPE was dumped to exchanges amid a nearly 12% dip in the value of the frog-themed meme coin.
The emergence of these massive dumps amid a bearish crypto market has made market sentiments take a paradigm shift. Notably, speculations that Pepe coin has potentially topped have pushed traders and investors onto a hot seat, further aligning with the massive exchange dump.
So, let’s dive deeper into the current market stats of the third-largest meme coin by market and what it indicates for future price movements.
Colossal Exchange Dumps Ignite Bearish Sentiments
According to the on-chain data offered by ‘The Data Nerd,’ a transaction tracker, $1.02 trillion PEPE was collectively dumped to a crypto exchange by two whales today.
The whale address 0xf22 deposited 435 billion PEPE, worth $3.86 million, to Binance, one of the leading CEXs. If sold at the current price, the whale will suffer a loss of $1.21 million.
Simultaneously, the market maker Wintermute deposited and sold a whopping 593.6 billion PEPE for $4.61 million. This massive selloff has presented Pepe coin with increased selling pressure.
Collectively, these massive transfers to exchanges have stirred a whirlpool of bearish market sentiments, underscoring loss in the market’s confidence surrounding the asset’s future potential.
Meanwhile, Pepe coin continued to trade dominantly in the red territory.
Also Read: Justin Sun Faces $66M Loss As Ethereum Records 10% Fall, Here’s Why
PEPE Price Plummets
At press time, PEPE’s price saw a 12.03% dip in value to $0.000008304. It’s 24-hour bottoms and tops are $0.000007724 and $0.00000963, respectively. The weekly crash, a fall of nearly 33%, saw PEPE regaining a zero in its value after shedding it amid this year’s bull cycle. This momentum has pushed the token to take a bearish stage.
It’s worth mentioning that while this price drop aligns with the broader market trend, Pepe coin has surged unprecedently amid this year’s bull cycle, defying broader market trends and sentiments. This could mean that Pepe coin’s long-due correction has finally taken place.
However, CoinGape Media spotlighted PEPE’s nearest resistance point at $0.000009, hinting that a potential market recovery could witness PEPE scaling this level, paving the road for further gains.
Collectively, the abovementioned data hints at uncertain market sentiments over the future price action of the frog-themed meme coin.
Also, the RSI rested around 31, hinting that further downside pressure might propel an entry into the oversold territory. Should this happen, chances are Pepe coin could witness a potential price rebound.
Nonetheless, crypto market participants extensively eye the token for further price shifts, given the volatility of the crypto realm.
Also Read: Coinbase, MicroStrategy & Bitcoin Miners Stocks Extend Losses Ahead US Job Data
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Altcoin
Whale Continues XRP Selling Streak, $0.42 Becomes Major Resistance Level
![](https://coin2049.io/wp-content/uploads/2024/05/xrp222.jpg)
In the background of the crypto market’s bearish movement today, a renowned XRP whale has continued selling significant amounts of XRP. Notably, on-chain insights by Whale Alert reveal nearly 71 million coins dumped to exchanges over the past day, setting off discussions surrounding XRP’s future price action across the crypto industry.
XRP price currently takes the heat of the broader crypto market trend, slipping as low as the $0.39 price level. So, let’s gauge in on the market statistics for Ripple-backed asset.
On-Chain Data Flags Whale Dumps
According to data by Whale Alert, 70.9 million XRP, worth $31.29 million, was shifted to two exchanges in a couple of transactions. As per the data, the whale address, …Rzn, was recorded as shifting the abovementioned amount.
…Rzn shifted 35.8 million coins, worth $15.80 million, to Bitso, a Mexico City-based CEX. Simultaneously, it transferred 35.1 million coins, worth $15.49 million, to Bitstamp, a Luxembourg city-based CEX.
These dumps have presented XRP with increased selling pressure amid a bearish market, causing further downside pressure on the asset. Intriguingly, CoinGape Media earlier reported that the same whale address has been repeatedly dumping XRP into the Bitstamp & Bitso crypto exchanges. Aligning with this, a negative market sentiment sparked by the whale dump engulfs XRP.
Meanwhile, despite Ripple rolling out upgrades for the network and strengthening its case against the U.S. SEC, the native token, XRP, has continued its sluggish movement.
Also Read: Leading Telecom Company Taiwan Mobile Gets Crypto Exchange License
XRP Price Correction?
At press time, the XRP price chart showed a 10.15% dip in value to trade at $0.4056. Its 24-hour lows and highs were $0.3977 and $0.4532, respectively.
Intriguingly, in a post by the crypto market analyst Dark Defender today, it was brought to attention that the $0.39 price level serves as POC (Point of Control). This is where most trades have taken place since 2014, making it a vital support as of the current trajectory.
Whereas, after consolidating over the past week, the crypto tanked forming resistance at $0.42. The RSI was moving along 22, signaled an oversold territory for the asset. This could mean a potential price rebound ahead as the market recovers.
Also, pro-XRP lawyer Bill Morgan took to X today, spotlighting his XRP purchase with a strategic buy-the-dip sentiment. This has added to optimism on a price rebound ahead.
Also Read: German Govt Moves 500 Bitcoin, Another BTC Dump Imminent?
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Altcoin
Over 18000 Bitcoin Options to Expire, Real Panic Selloff Isn’t Even Here Yet
![](https://coin2049.io/wp-content/uploads/2024/07/Crypto-Market-Crash2-1.jpg)
Bitcoin bears took control over bulls as investors panicked to sell BTC holdings amid Mt. Gox, US government and German government moves Bitcoin. BTC price has hit a low of $53,400, a fall to February levels. Bitcoin and Ethereum options expiry today to put further pressure on the crypto market as on-chain data indicate the real panic hasn’t started yet.
Bitcoin and Ethereum Set to Expire Today
The crypto market crash saw the global crypto market cap tumble by more than 13% in 48 hours, causing investors to over 250 billion.
Over 18,300 BTC options of notional value $1 billion are set to expire on Deribit, with a put-call ratio of 0.65. The max pain is at $61,500, sliding from $63,500 as Bitcoin remains under selling pressure. BTC price fell below $55k support and risks falling to $52k support if it fails to rebound.
Notably, the put/call ratio in the last 24 hours is 0.88 as put bets rose significantly in the crypto market crash. The 24-hour put volume is above 19,552 and the 24-hour call volume is near 22,088. Also, Historical Volatility and BTC Volatility Index (DVOL) witnessed a sharp 10% rise surge. This indicates options traders have turned highly bearish on Bitcoin.
Meanwhile, 163,170 ETH options of notional value $472 million are set to expire. The put-call ratio is 0.35 and the max pain price is $3,350, indicating massive losses for traders as ETH price fell below $2,890. In the last 24 hours, the put volume has increased to 98,643 and call volume remained higher at 126,788. The put-call ratio is 0.78.
![Ethereum Options Expiry](https://coingape.com/wp-content/uploads/2024/07/deribit-metrics-8-1224x612.png)
![Ethereum Options Expiry](https://coingape.com/wp-content/uploads/2024/07/deribit-metrics-8-1224x612.png)
$700 Million Liquidated From Crypto Market
According to a CryptoQuant verified on-chain analyst, the real panic hasn’t even started yet. He predicts it will start when orange bars appear on BTC Daily Realized Profit Loss Ratio 30DMA metric. “In the current situation, 47K doesn’t look as terrible as it did three weeks ago when we were at 70K,” he added.
The crypto market saw over $700 million in crypto liquidations, as per Coinglass data. Over 235k traders were liquidated, with the largest single liquidation order on crypto exchange Binance valued at $18.48 million as someone sold ETH.
The crypto market bleeds as over $600 million in long positions and $100 million in short positions were liquidated over the last 24 hours. Along with top altcoins, major liquidations were observed in PEPE, PEOPLE, ORDI, WLD, LTC, FIL, ADA, BCH, and others.
![Crypto Market Liquidations](https://coingape.com/wp-content/uploads/2024/07/screenshot-www.coinglass.com-2024.07.05-10_19_52-1224x335.jpg)
![Crypto Market Liquidations](https://coingape.com/wp-content/uploads/2024/07/screenshot-www.coinglass.com-2024.07.05-10_19_52-1224x335.jpg)
Beleaguered crypto exchange Mt. Gox has started $10 billion in BTC and BCH repayments, as per an official announcement on July 5. According to Arkham, Mt. Gox moved 47.229k BTC worth $2.97 billion today.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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