Meta shares dipped after a disappointing Q2 revenue outlook and plans to spend nearly $100 billion this year as it aims to “invest aggressively” in its AI products.
AI Safety for Smart Contracts Is AI Safety for the World
Akash Network’s Token Surges 50% on Upbit Listing
The decentralized cloud computing company also announced its ‘Akash summit’ on Monday, which will take place before Consensus.
Tether Reorganizes Into 4 Divisions as It Expands Beyond Stablecoins
The company has formed four divisions to reflect its broadening focus: Data, Finance, Power and Edu(cation).
Worldcoin, Sam Altman’s Crypto Project, Is Building a Layer-2 Chain
The human-focused blockchain network will be based on the OP Stack, a framework for building Ethereum-based layer-2 chains.
NEAR to Hire Artificial-Intelligence Engineers as Part of AI Roadmap
The company will begin its AI initiative in the next 3-6 months according to a document reviewed by CoinDesk.
Analyst Cites Favorable Market Trends That Could See Bitcoin Touch $300,000 This Cycle
Amid the renewed strength recently displayed by Bitcoin, Michael Van De Poppe, a recognized cryptocurrency analyst and trader has offered an intriguing prediction for BTC, highlighting that the crypto asset is likely to reach the $300,000 threshold in this bull cycle.
Bitcoin Price Targetted At Unprecedented Heights This Cycle
Over the past month, the price of Bitcoin has been consolidating and hasn’t been able to sustain its rise beyond its new peak of $73,000. However, things could soon be changing, as Michael Van De Poppe expects the coin to surge immensely in the short term.
His forecast coincides with anticipation around the upcoming Bitcoin Halving expected to take place in less than 12 days, fueling optimism within the crypto community.
According to the expert, the largest cryptocurrency asset by market cap is still experiencing significant resistance. Nonetheless, if Bitcoin manages to break out of this zone, the coin could witness a progression towards new all-time highs in the coming months.
Given that BTC achieved the $70,000 price level ahead of the halving event, Poppe believes that it is likely to surge to unprecedented levels, particularly topping out at $300,000 in this bull run.
The post read:
Bitcoin still facing crucial resistance. If this breaks, then we will be seeing a continuation towards new all-time highs. Bitcoin at $70,000 pre-halving. Likely $300,000 this cycle.
Poppe underscored that the price of Bitcoin returned to $70,000 level over the weekend. As a result, he has pointed out bullish indicators that are presently occurring in the crypto landscape.
The analyst also noted that the strength of the cryptocurrency markets has now exceeded our perceptions, and dips in altcoins represent opportunities for good entries. In addition, BTC’s price action demonstrates the potential to reach a new all-time high pre-halving, and the shift in favor of altcoins is on the horizon.
Altcoin Season Set To Kick Off In Weeks
Poppe is super bullish toward an ‘altcoin season’. However, it is important to note that altcoins’ value has frequently coincided with shifts in Bitcoin’s supremacy. But even though Bitcoin’s dominance is still at its peak prior to the halving, Poppe thinks these coins still have a lot of momentum.
He advocates that a new altcoin season will undoubtedly begin in the upcoming weeks. “We always have one, we have seen Meme coins, Solana (SOL) ecosystem, and AI,” he stated.
The expert’s statement suggests that the Solana ecosystem, AI projects, and meme coins in recent months have led the altcoin market. Thus, Michael Van De Poppe has contended that in the impending alt season, crypto initiatives that prioritize the tokenization of Real-World Assets (RWA), the Ethereum (ETH) ecosystem, and the Decentralized Physical Infrastructure Network (DePIN) are likely to be next, paving the way for alts this cycle.
At the time of writing, the altcoin’s overall market excluding Bitcoin and Ethereum was valued at $753.47 billion. This indicates a 2% increase in the market cap in the past 24 hours.
Crypto VC Firm Polychain Tops Up AI Platform Ritual’s $25M Funding Round With ‘Multimillion Dollar’ Investment
Blockchain firms are attempting to address concerns that Big Tech giants like Microsoft, Meta and Alphabet will build an artificial-intelligence oligarchy.
Crypto Has ‘Too Many Tokens’ and Mergers Are Coming
TK
The SEC’s Shot Across the Bow on ‘AI Washing’
Three Decentralized Platforms to Merge AI Tokens, Create AI Alliance
The three firms are seeking to create an AI collective to provide a decentralized alternative to existing projects that are controlled by Big Tech.
Tether to Establish AI Unit, Starts Recruitment Drive
The unit will focus on the development of open-source AI models and collaborate with other firms to integrate the models into products that could address real-world challenges.
FTX to Sell $884M of Anthropic Shares to Two Dozen Institutional Investors
The value of FTX’s FTT token surged 10% on the news.
Web 3 Startup Tensorplex Labs Raises $3M Seed Funding to Decentralize AI
Tensorplex said decentralization is an antidote to the risk of tech giants monopolizing artificial intelligence, making them prone to biases or censorship.
Bitcoin Virtual Machine Will Soon Let Users Create AI Models on Bitcoin Network
“We’ve figured out a way to put AI on-chain,” lead developer punk3700 told CoinDesk in an X message.
Story Protocol Works With Crypto-AI Firm Ritual To Train and Track Models On-Chain
Story Protocol will be used to “prove that outputs like text, image, and voice are generated by specific models” so that IP can be tracked, attributed, and compensated correctly.
Reddit Is Making a Deal With the AI Devil
The social media giant’s $60 million real-time data deal with Google is latest example of internet companies selling out their users who have nominally “consented” to share their personal information but have no control. Blockchains and ZK-proofs could help prevent corporate overreach, Nym CEO and privacy advocate Harry Halpin writes.
Near Protocol’s Token Almost Doubles in a Week, Ahead of Nvidia’s AI Conference
Layer-1 blockchain NEAR’s native token {{NEAR}} has experience doubled since March 5, with hype surrounding Nvidia’s upcoming annual conference driving AI-related tokens to the upside.
Robert Alice Made NFT History, Now He’s Writing About It
First Mover Americas: AI Tokens Reclaim the Spotlight
The latest price moves in bitcoin (BTC) and crypto markets in context for March 7, 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.