Connect with us
  • tg

Cryptocurrency

U.S. considers tightening restrictions on AI chip exports

letizo News

Published

on

Officials in the United States are mulling over tighter controls on an export regulation that was created to minimize the availability of artificial intelligence (AI) chips to China. 

According to officials close to the source, the stricter regulations would include clamping down on the level of computing power chips can have that are able to be exported. The sources say an update to the rules could come by late July.

Such restrictions on the sale of powerful computing chips have caused alarm to some of the industry’s major players.

Colette Kress, the chief financial officer of Nvidia, one of the world’s leading chip makers, commented on June 28 at an investors conference that:

“..if implemented, [restrictions] would result in a permanent loss of opportunities for U.S. industry to compete and lead in one of the world’s largest markets…”

Kress said an implementation of such regulations would not “immediately impact” the company’s financial results. In late May, the AI chip boom caused Nvidia to momentarily hit $1 trillion in value.

Cointelegraph reached out to the U.S. Department of Commerce for further comment on its potential decision.

Related: AI has a ‘symbiotic relationship’ with blockchain: Animoca Brands CEO

Initially, the restrictions against AI chip sales in China were issued by the Biden administration in October 2022 with the intention to slow down the semiconductor industry.

The October ban cut off Chinese developers from access to some of the more advanced chips on the market, including Nvidia’s A100 chips and the latest version, the H100. These two chips are among the most sought-after for high-level AI development.

In May Nvidia reported its second-quarter revenue forecast to be 50% higher than market estimates, along with a 28% increase in company shares.

It was around the same time that the company released additional AI-powered tools including an AI supercomputer that it created to help aid developers to produce ChatGPT successors. 

Meanwhile, in China, local developers have been figuring out ways to skirt the impact of U.S. sanctions. Companies have been reported to be studying new methods to develop AI chips through the use of weaker semiconductors and combinations of chips currently available to them. 

Magazine: AI Eye: 25K traders bet on ChatGPT’s stock picks, AI sucks at dice throws, and more

Cryptocurrency

Bitcoin Stalls, Altcoins Move: This Week’s Top Gainers and Losers (Weekend Watch)

letizo News

Published

on

Although it went through some volatility in the past seven days, bitcoin’s price actually stands at the same spot as it did last Sunday.

Many altcoins have produced bigger moves, as ETH has bounced above $2,000 once again, while DOGE is close to breaking below $0.17.

BTC Stalls at $84K

As the chart on the bottom of this article will show, BTC’s price stood at $84,000 last Sunday before it headed south on Monday and later on Tuesday. The weekly bottom came at just over $81,000 at the time as traders were preparing for the conclusion of the FOMC meeting on Wednesday.

Once it became known that the Fed will not change the interest rates again, BTC faced some volatility but ultimately shot up to a multi-week peak of over $87,000 during Thursday morning’s Asian trading session.

However, this was short-lived, and the bears pushed the asset south later on Thursday and Friday. The biggest drop at the time came with a slide to $83,000. Nevertheless, BTC managed to defend that level and has returned to just over $84,000, as mentioned above. The weekend has been quite dull, with little to no movements.

Its market cap has remained still at $1.670 trillion, while its dominance over the alts has been reduced this week to 58.3%.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

ETH Above $2K

The market moves over the past day have been lacking, so we will focus on the weekly performances. Ethereum is actually up by over 4%, which has helped it jump past the coveted $2,000 mark. Tron and Toncoin have popped up as the top gainers from the larger-cap alts, surging by 9% and 6.5%, respectively.

UNI, APT, KBT, AAVE, GT, and HYPE lead the way from the mid-cap alts. In contrast, Pi Network’s PI token has plummeted by over 32% since last Sunday to $1.

Solana, Cardnao, and Dogecoin are also in the red from the larger-cap alts, with losses of up to 4%.

The total crypto market cap is essentially at the same spot as yesterday at $2.870 trillion on CG.

Cryptocurrency Market Overview. Source: QuantifyCrypto
Cryptocurrency Market Overview. Source: QuantifyCrypto
SPECIAL OFFER (Sponsored)
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.

Continue Reading

Cryptocurrency

Good News for Ripple (XRP) and Cardano (ADA) Investors: Details

letizo News

Published

on

TL;DR

  • Although both ADA and XRP are down on a weekly scale, their performance could reverse in the short term, as suggested by a popular metric that has flashed a buy signal.
  • Interestingly, the projects behind both assets have been linked in the past and are expected to announce a joint venture soon.

ada_v_xrp_cb

The metric in question, brought by popular crypto analyst Ali Martinez, is the TD Sequential, which showcases whether an asset has reached an exhaustion point in either direction.

For XRP, the indicator has flashed a buy signal on the 4-hour chart, which could suggest “the start of a short-term rebound,” said Martinez.

Ripple’s cross-border token experienced a sharp and brief uptick earlier this week when company CEO Brad Garlinghouse announced a victory in the legal case against the SEC. XRP went from $2.3 to $2.6 within an hour or so but failed to keep the momentum up and has retraced to under $2.4 now.

The same indicator posted a similar buy signal when it came down to ADA, according to the 4-hour chart, showing that a rebound could be on the horizon.

ADA has struggled in the past month or so, losing over 10% of its value and currently struggling to remain above $0.7. Previously, Martinez said the asset could skyrocket to $2, but it has to close above $1.2 on the daily chart, which seems like a distant dream now.

XRP and ADA have been linked on numerous occasions in the past several months. US President Trump mentioned them, alongside SOL, ETH, and BTC, in regard to the suggested strategic crypto reserve in the country.

Additionally, Charles Hoskinson and Ripple execs have been exchanging kind words since the US elections, hinting on multiple occasions about a potential collaboration between the two parties. However, nothing official has been made public yet.

SPECIAL OFFER (Sponsored)
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!

Continue Reading

Cryptocurrency

Ripple News Today

letizo News

Published

on

Woes of insider trading, some technical warnings for XRP’s price, amid a number of other interesting developments for Ripple – news that you can’t miss.

Was there XRP insider trading prior to CEO announement of SEC victory?

According to a recent research by Santiment, large XRP wallets inccreased their holdings by around 6.5% in the two months leading up to the announcement that the SEC had dropped its appeal against the company.

In addition to that, this period also saw a sixfold increase in unique wallet activity on the Ripple network, which contrasts wit user outflows on other blockchains.

However, it’s a stretch to say that there was insider trading, because the news was widely anticipated as some experts even said that it was priced in ever since Donald Trump won the elections in November last year.

Time to short XRP?

Some are of the opinion that the XRP token might as well be overvalued, given that a lot of the catalysts for a positive price move have already happened, begging the question if it’s time to short it.

Ripple essentially “won” the lawsuit against the US Securities and Exchange Commission, although they still have to pay a hefty fine and they’ve stated that they will be contesting that. However, the Commission won’t carry the motion further, which is good enough.

At the same time, hightened social media activity around XRP has prompted some analysts to believe that it might be a good opportunity for contrarian investors to consider shorting the cryptocurrency.

XRP price to drop by 50%?

Ali Martinez, a well-known crypto analyst with hundreds of thousnads of followers on X, recently posted a controversial take on the XRP price, predicting a substantial crash.

According to him, the recent pump and dump in XRP has essentially created a very popular technical pattern known as head-and-shoulders. If it plays out, this could result in a 50% dump in the asset’s price, driving it down toward $1.25.

SPECIAL OFFER (Sponsored)
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!

Continue Reading

Trending

©2021-2024 Letizo All Rights Reserved