The company is introducing two AI-powered generative models. The first, Emu Video, which leverages Meta’s previous Emu model, is capable of generating video clips based on text and image inputs. While the second model, Emu Edit, is focused on image manipulation, promising more precision in image editing.Continue Reading on Cointelegraph More
Earlier today, BTC experienced a significant pullback post Wall Street open, falling to $36,470 with a daily loss exceeding $1,000. This pattern echoed previous weekly events where Bitcoin struggled to maintain new highs, resulting in long liquidations. Today’s market saw $21 million in BTC longs liquidated, a notable decrease from the $120 million liquidated on Monday.Despite the current pullback and liquidations, some market analysts like CrediBULL Crypto view this as an opportunity for accumulation, suggesting there might be a retest of the local bottom at $34,600. In the last 24 hours, CoinGlass reported market liquidations totaling $217.79 million from over 77,200 traders, with Bitcoin accounting for $61.42 million of this amount.The broader cryptocurrency market has mirrored Bitcoin’s downturn. Ethereum (ETH) fell 4.2% to $1,962.13 despite positive sentiment earlier in the week following news of BlackRock (NYSE:BLK) iShares Ethereum Trust’s application with the SEC. Other major altcoins including Solana (SOL), Cardano (ADA), and XRP also experienced price declines.Market observers are closely watching for further developments on the U.S.’s first Bitcoin spot price ETF. Material Indicators suggested that another attempt at reaching the $38k – $40k range is plausible despite concerns over a potential market correction. Any news on the ETF could act as a catalyst for Bitcoin’s price direction.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More
Menon highlighted the volatility and failure of cryptocurrencies as a form of digital money during his address at the festival. He proposed several alternatives that could serve as more reliable and efficient financial instruments. Among these were privately issued digital currencies, central bank digital currencies (CBDCs), tokenized bank liabilities, and particularly stablecoins. He pointed out wholesale CBDCs and tokenized bank liabilities as promising options for atomic settlement—a method that ensures transactions are completed only when all parts of an exchange are fulfilled.The MAS director detailed Singapore’s strategic initiatives aimed at improving cross-border payments, facilitating seamless transactions with digital assets, and creating a trusted data ecosystem to support sustainable finance and the transition to net-zero emissions. Menon called for international cooperation to help shape a forward-looking financial landscape.In a related development, MAS is spearheading Project Guardian in collaboration with industry partners. This project focuses on advancing the tokenization of various financial assets such as foreign exchange, bonds, and funds. The initiative aims to enhance global liquidity and promote financial interoperability.Meanwhile, Germany’s Commerzbank (ETR:CBKG) has achieved a significant milestone in cryptocurrency adoption by securing a crypto asset custody license under the German Banking Act. This move is indicative of a growing trend among European banks responding to increasing customer demand for digital assets.The contrasting approaches of Singapore’s cautious endorsement of specific digital finance tools and Germany’s embrace of cryptocurrency services illustrate the varied strategies global financial institutions are adopting in navigating the evolving landscape of digital finance.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More
The initiative, which saw Dogecoin’s price jump 5.27% within 24 hours and 2.13% over the past week, is fueled by a crowdfunding campaign that began back in 2015. This collective effort underscores the growing influence and enthusiasm surrounding cryptocurrencies.Astrobotic had previously hinted at Dogecoin’s lunar ambitions in a tweet on May 8, 2021, when they discovered a Dogecoin during the Moonboxes integration with their Peregrine lunar lander. Today’s announcement brings that vision full circle, marking a significant milestone for both Dogecoin and crowdfunding in general.The DHL Moonbox mission aims to symbolize not only a triumph for Dogecoin but also the potential of community-led initiatives to achieve what was once considered impossible. This event is set to capture the imagination of the cryptocurrency world and may pave the way for future innovative partnerships between space exploration and digital currencies.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More
Ferrari (NYSE:RACE) has been aware of the growing demand from clients for alternative payment solutions and decided to support dealers in meeting these clients’ requests, the representative said, adding:Continue Reading on Cointelegraph More
A whale, known to have narrowly avoided the FTX/Alameda crash by timely withdrawing ETH from the exchange, executed a sale of 6,099 ETH for 12 million USDC at a price of $1,964 per ETH, pocketing approximately $14.3 million. This transaction, occurring just fourhours ago, has raised questions among the trading community: is this whale’s trading pattern worth emulating?Reviewing the whale’s historical activity since December 2022 reveals a series of 22 buy and sell actions, suggesting a strategic approach to trading. However, it is crucial to note that the whale does not consistently buy at the lowest and sell at the peak prices. Instead, they exhibit a pattern that sometimes involves buying and selling in quick succession, regardless of significant price fluctuations, indicating a complex that may factor in more than just immediate market prices.This behavior indicates a level of risk-taking and a nontraditional strategy that may leverage market sentiment, news or other indicators not immediately apparent to the average trader. The whale’s approach, while lucrative in some instances, also comes with its own set of risks, as rapid trading amid volatile price movements can lead to unpredictable outcomes.The community is often tempted to mirror the trades of these whales under the assumption that they have access to privileged information or superior market insights. However, the unpredictable nature of these “weird moves” suggests that copying such trading patterns without a deep understanding of the whale’s strategy could be precarious.The Ethereum market remains vibrant and fluid, with significant trades by whales adding to the complexity of market dynamics.This article was originally published on U.Today More
Speaking exclusively to Cointelegraph, Starknet product manager and blockchain researcher Ilia Volokh outlined the firm’s intent to address certain centralized elements of its protocol aimed at defending against censorship and making its system more robust.Continue Reading on Cointelegraph More
The journey to this ATH began with Bitcoin’s surge to its first significant milestone of 479,551.90 TRY (USD1 = TRY28.6844) on April 30, 2021. However, by mid-July 2021, the value dipped to 269,146 TRY, reflecting a temporary recovery of the Turkish Lira against Bitcoin. Since December 2, 2022, when Bitcoin was valued at 315,013.22 TRY, the BTC/TRY pair has experienced substantial growth, culminating in today’s record value. This represents a cumulative growth of an astonishing 116,185.22%.Turkey’s current inflation rate stands at a staggering 61.36%, starkly contrasting with the U.S.’s rate of 3.2%. The dire economic situation has prompted many Turks to turn to Bitcoin as an inflation hedge—a trend that is further supported by MicroStrategy’s consistent accumulations of BTC. Although originally designed by Satoshi Nakamoto as a value transfer mechanism, Bitcoin has increasingly become a popular investment asset for those looking to protect their wealth from inflationary pressures.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More
