US, EU and UK sign worlds first international AI treaty
The US, EU and UK have signed the worlds first legally binding international AI treaty, prioritizing human rights and accountability in AI regulation.
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The US, EU and UK have signed the worlds first legally binding international AI treaty, prioritizing human rights and accountability in AI regulation.
Crypto asset manager Grayscale has published an in-depth report outlining sectors poised for bullish growth in the final quarter of the year amid a notable recovery in the cryptocurrency market, particularly for major players such as Bitcoin (BTC) and various altcoins, which have reached price levels not seen in over two months. Grayscale Highlights Key Trends In Crypto In its Thursday report, Grayscale updated its Crypto Sectors Indexes, showcasing emerging themes within the digital asset industry. Key trends include the rise of decentralized artificial intelligence (AI) platforms, efforts to tokenize traditional assets, and the growing popularity of memecoins. Notably, Bitcoin and the cryptocurrency sector have outperformed other market segments in 2024, likely due to the successful launch of spot Bitcoin exchange-traded products (ETPs) in the US earlier this year and favorable macroeconomic conditions following the Federal Reserve’s (Fed) interest rate cut on 18 September. Related Reading: Altcoin Market Cap Surges Past 200-Day EMA: Is Altseason Finally Here? While gaining 13% this year, Ethereum has underperformed Bitcoin but still surpassed many other cryptocurrencies. Grayscale’s Crypto Sectors Market Index (CSMI) has seen a slight decline of about 1% year-to-date, with the Smart Contract Platforms Crypto Sector Index down approximately 11%, making Ethereums performance relatively stronger than its peers. Despite its challenges, the asset manager finds that Ethereum remains the Smart Contract Platforms sector leader, boasting the highest number of applications, developers, and fee revenue. Top 20 Cryptocurrencies For Upcoming Quarter In producing its quarterly Top 20 list of cryptocurrencies, Grayscale thoroughly analyzes hundreds of digital assets. This list represents a diversified selection of assets with high potential for the upcoming quarter. Among those highlighted by the firm are standout performers such as Sui (SUI), Bittensor (TAO), Optimism (OP), Helium (HNT), Celo (CELO) and the UMA Protocol (UMA). However, below is the full list with other assets beyond these to which Grayscale pays particular attention. Sui, a third-generation blockchain created by former Meta engineers, has made waves following a recent network upgrade that enhanced its transaction speed by 80%, surpassing Solanas capabilities. Optimism, an Ethereum Layer 2 solution, plays a critical role in scaling the Ethereum network. It has developed a framework called the Superchain, which is utilized by platforms like Coinbases Layer 2 BASE. Celo and UMA are capitalizing on unique trends, with Celo focusing on stablecoin use and payment solutions in developing regions, particularly in Africa. The platform recently surpassed Tron in stablecoin usage, while UMA serves as an oracle network for decentralized applications like Polymarket. Related Reading: MicroStrategys Bitcoin Bet Pays Off In Multiple Ways As Stock Surges 317% Helium’s inclusion in the Top 20 reflects Grayscale’s preference for category leaders with sustainable revenue models. The project has established itself as a leader in decentralized physical infrastructure networks (DePIN), growing its network to over one million hotspots and generating significant fee revenues. Bittensor, which focuses on the intersection of AI and crypto, has recently gained recognition within Grayscale’s framework due to improvements in market structure, offering a decentralized platform for AI innovation. In this quarters adjustments, Grayscale has rotated out several assets, including Render, Mantle, ThorChain, Pendle, Illuvium, and Raydium. While Grayscale sees value in these projects, the revised Top 20 list aims to offer more compelling risk-adjusted returns for investors in the coming months. At the time of writing, the biggest winner across all time frames in Grayscale’s top 20 list is Bittensor’s TAO token, which has seen gains of 86% over the fourteen-day time frame and a substantial 841% year-to-date, resulting in a current trading price of $536. Featured image from DALL-E, chart from TradingView.com
According to the Turbo coin price prediction, by the end of 2030, the TURBO crypto price is expected to reach a maximum of $0.1 (+1,500%).
The post Turbo Coin Price Prediction: Will TURBO Reach $1? first appeared on StealthEX.
NVIDIA launches AI Aerial to optimize wireless networks and deliver generative AI experiences, collaborating with key telecom players like T-Mobile, Ericsson, and Nokia. (Read More)
Tech companies release a joint letter requesting more time from the EU to comply with AI Act requirements, citing challenges due to the summer recess.
Since the advent of artificial intelligence, deep fake images, sophisticated phishing attacks, and fake news reports have multiplied.
Binance recently announced investments in decentralized artificial intelligence ecosystems Sahara AI and MyShell.
The strategy aims to fast-track AI development and adoption in Africa, driving innovation and growth in the continent.
Discover the latest in spreadsheet UX, generative UI, and collaborative UX for agents, as highlighted by LangChain Blog. (Read More)
A recent study revealed that China leads the world in AI usage and investment, while the U.S. remains the leader in fully implementing the technology.
OpenAIs support for these bills highlights a broader vision for AI that balances safety, accessibility and the potential for educational progress.
The European Unions AI Act takes effect on Aug. 1. It introduces significant regulations for artificial intelligence through phased implementation and key compliance obligations.
NVIDIA CEO Jensen Huang forecasts a future where AI assistants are ubiquitous, discussing the advancements in generative AI and accelerated computing at SIGGRAPH 2024. (Read More)
More bridges between Web3 and generative AI are being built as the luxury art auctioneer Christies and MoonPay unveil a new art experience at the eighth Art + Tech Summit in a unique gamified event.
The token launch ensures participants that their campaign efforts will be rewarded.
Coatue Management invested $150 million in the Bitcoin miner Hut 8 Corp due to its capability to power generative AI applications with its high-performance computing.
Pocket FM teams up with ElevenLabs to transform written stories into audio with AI, achieving high production efficiency and inclusivity. (Read More)
Travis Kling, Founder and Chief Investment Officer of Ikigai Asset Management, shared his insights on the current state of Bitcoin and the broader cryptocurrency ecosystem, which he described as following: “Bitcoin is ~10% off of ATHs and the timeline appears to be on the verge of cannibalism.” In a series of detailed posts on X, Kling dissected the complex interplay of macroeconomic factors, ETF flows, and internal market dynamics that are shaping the cryptocurrency markets. Why Is Bitcoin Trading Flat? Kling began his analysis by addressing Bitcoins performance relative to the broader macroeconomic environment. Despite the NASDAQ surging 16% since April 19, following a low induced by market trepidations about rate cuts, Bitcoin has notably underperformed, remaining relatively flat. Kling pointed out, “BTC is trading pretty crappy relative to macro.” This underperformance is particularly striking given that during this period, the US equity markets have repeatedly set new all-time highs, while Bitcoin has stagnated. Related Reading: Bitcoin Month-Long Rally Comes To An End: Price Plunges Below $65,000 Whats Next For BTC? A significant part of Kling’s analysis focused on the dynamics of US spot Bitcoin ETFs. Starting May 13, the market witnessed 19 consecutive days of robust ETF inflows, totaling approximately $4 billion. Surprisingly, these substantial inflows only resulted in a 17% increase in Bitcoins price, which Kling argues is underwhelming. He noted, “Its true BTC was +17% over this period, but why not more? Why not meaningfully higher highs?” This question points to underlying issues in market structure or investor sentiment that might be damping the expected bullish response to inflow surges. Moreover, recent ETF outflows have coincided with a 7% drop in Bitcoin’s price over a similar period, further complicating the narrative around ETF impacts. Kling suggests that while ETF inflows and outflows are significant, they might not fully capture the underlying market dynamics, indicating a complex interplay of arbitrage opportunities and market sentiment. “I think one thing we can say with confidence is that the ETFs have a lot of arb flow in them. Just look at the 13Fs. There’s NAV arb and then that gets laid off into futures and spot and then there’s the same basis trade that’s always been present in this market,” Kling wrote. He also speculated about external factors affecting Bitcoin’s price, such as potential government sales of Bitcoin confiscated during the Silk Road operation. Although he admits lacking concrete proof, Kling aligns his hypothesis with the timing of certain market movements and known government actions. Additionally, he highlighted the influence of Ethereum on Bitcoin’s market dynamics, particularly during a week of significant activity around an Ethereum ETF, which saw the largest weekly ETH to BTC volume on record since a previous peak. What To Expect From Ether And Altcoins? Despite Ethereum’s influence on Bitcoin, ETH itself faces challenges. The anticipation surrounding spot Ethereum ETFs has not translated into sustained positive price action. Ethereum remains 30% below its all-time high, with upcoming ETFs potentially being a critical factor. Kling posits, “If [Ethereum ETF inflows] are strong, ETH likely rips hard. If theyre weak, ETH may sell off.” The uncertainty about the strength of these inflows and their market impact reflects broader market anxieties. Related Reading: Hard To Be Too Scared Of Bitcoin Price Action, Says Analyst. Heres Why The broader altcoin market is also suffering, with many tokens significantly off their highs and struggling to find a footing. Klings remarks about the altcoin sector are particularly stark: “The airdrop meta has been dying a slow death for months. Alts are overwhelmed with token unlocks from holders that are up many multiples and will hammer a nonexistent bid.” This scenario illustrates the difficulties facing smaller altcoins as they navigate a market dominated by major players like Bitcoin and Ethereum. In conclusion, Klings comprehensive analysis suggests a cryptocurrency market at a critical juncture, facing internal competition and macroeconomic mismatches that could define its trajectory in the coming months. “So overall that’s what has the timeline acting like prices are 75% lower than they are right now. BTC is probably heading higher this year. ETH is probably somewhere between fine and gangbusters this year, based on ETH ETF inflows. But the gap between BTC/ETH and everything else is wide and likely going to get wider this year. If crypto can muster up even a modicum of a legit narrative that can drive real inflows into Alts, it can all change in a hurry. But the current slate of ‘narratives’ is unlikely to get that done,” Kling concluded. At press time, BTC traded at $65,138. Featured image from YouTube / What Bitcoin Did, chart from TradingView.com
Solana-based altcoins and artificial intelligence (AI)-based coins have seen a surge in investment and price appreciation in recent months. Among the notable winners is io.nets native token IO, which surged above the $5 mark and saw a substantial 50% increase within hours of a major listing announcement. What Drives Investor Interest In io.net? The worlds [...]
The post Major Listing Propels This Solana AI-Based Token To New Peaks Beyond $5: Is it Time To Buy? appeared first on Crypto Breaking News.
The fusion of artificial intelligence (AI) and blockchain technology has captivated the crypto market, propelling the introduction of new tokens and their subsequent listings on prominent exchanges like Binance. Interestingly, Binance recently published an updated article exploring the synergy between blockchain and AI, underscoring the potential of combining these two technologies. Crypto analysts known as [...]
The post Crypto Expert Reveals Top 7 AI Tokens For Massive 100x Growth Dont Miss Out! appeared first on Crypto Breaking News.
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