Crypto investors should prepare for the impending winter as the inevitable correction looms. Brace yourself for more turbulent days ahead until the arrival of Bitcoin Halving, which is anticipated to lead to a bounce and potentially new all-time highs. @NEAR Protocol @Bitcoin @Binance
đ The Bitcoin halving is just around the corner, with only 7 days left! đĽ This event, happening approximately every four years, reduces the reward for mining new blocks in half. As we approach this significant milestone, the crypto community is buzzing with anticipation. But what could this mean for the crypto market?
1. Supply and Demand Dynamics: With the reduction in the rate of new Bitcoin being produced, there's a decrease in the supply. Historically, this has often led to an increase in
Core Inflation Rate YoY ahead of FOMC Minutes Release: What It Means for Crypto?
Today marks a significant day for both traditional and crypto markets as investors eagerly await two key events: the release of the FOMC minutes and the announcement of the Core Inflation Rate Year-on-Year (YoY).
The FOMC minutes offer insights into the Federal Reserve's recent discussions and decisions, providing crucial clues about future monetary policy directions. Meanwhile, all eyes are on the Core Inflation Rate YoY, with the previous figure standing at 3.2% and the forecast at 3.4%.
The implications of these events for the crypto market are multifaceted. Firstly, any hints of a shift in the Fed's monetary policy stance, such as discussions about tapering or raising interest rates, could impact investor sentiment across all asset classes, including cryptocurrencies.
Secondly, a higher-than-expected Core Inflation Rate YoY could fuel concerns about rising prices and potentially lead to increased demand for inflation-hedging assets like Bitcoin and other cryptocurrencies, which are often viewed as a store of value in times of economic uncertainty.
Conversely, if the Core Inflation Rate YoY comes in lower than expected, it may temporarily alleviate inflation fears, leading investors to reevaluate their portfolio allocations, including their exposure to cryptocurrencies.
Overall, the interplay between the FOMC minutes and the Core Inflation Rate YoY will likely shape market sentiment and influence trading decisions in the crypto space. Investors should closely monitor these developments and be prepared to adapt their strategies accordingly in response to any market-moving news.
NEAR Foundation Launches Infrastructure Committee With $4 Million Budget
According to Foresight News, the NEAR Foundation has launched an Infrastructure Committee with a budget of $4 million. The committee has already funded five key infrastructure proposals. These include the implementation of Jutsu IDE infrastructure, which is an AI development environment, and FASTNEAR infrastructure services, which involve new RPC nodes and custom endpoints.
The committee has also supported the Aurora Web 3.0 wallet support services, the establishment of a financial application for the management committee's use, and an audit of Ledger integration. The NEAR Foundation's initiative aims to bolster the development and implementation of these key infrastructures, thereby enhancing the overall functionality and efficiency of the system.
NEAR Protocol Co-Founder Advocates for Web3 and AI Integration at 2024 Hong Kong Web3 Carnival
According to Foresight News, Illia Polosukhin, co-founder of NEAR Protocol, spoke at the '2024 Hong Kong Web3 Carnival', advocating for the integration of Web3 and AI as a solution to the current closed-source language models. He pointed out that most AI models are closed-source, leading to a lack of transparency about the data used for training, which poses potential risks.
There is a need for open-source models, but several obstacles exist, such as regulatory restrictions on data access and insufficient financial incentives following open-sourcing. Polosukhin suggested that AI language models need to establish direct contact with users. The optimal solution, he proposed, is to use cryptography and on-chain reputation to address these issues, enabling the creation of competitive models within the Web3 framework.
â¤ď¸ These missions teach users the most basic tools for safely storing cryptocurrency and earning passively from it. If you stop staking, your progress resets. đŞ
Fed Holds Interest Rates Steady: Crypto Market Bounces Back
In a much-anticipated move, the Federal Reserve announced today that it will maintain its benchmark interest rate at 5.5%, unchanged from the previous decision. This decision comes amid growing concerns about inflation and economic uncertainty. The announcement had an immediate impact on the financial markets, with stocks initially showing a mixed reaction. However, the crypto market, in particular, responded positively to the news, experiencing a notable bounce following the Fed's decision. The
đ˘ Attention Crypto Traders! đđ Big news on the horizon: the Federal Reserve is set to announce its interest rate decision later today at 2 PM. đ What does this mean for the crypto market? Let's dive in! đ Dump Alert: If the Fed decides to raise interest rates, it could lead to a bearish sentiment in the crypto market. Higher interest rates tend to strengthen the dollar, making it more attractive to investors compared to riskier assets like cryptocurrencies. This could trigger a sell-off in
What has led to the significant surge in NEAR's value?
Here's the latest update regarding the company:
Fragmented user experiences make dapps in Web3 less widely used. By using Chain Abstraction to address this issue, @NEAR_Protocol simplifies usability for billions of users to onboard. Come investigate the strategy of NEAR Protocol for more diverse decentralized Internet!
The idea of removing blockchain technology from the user interface is known as chain abstraction. Chain Abstraction improves Web3 usability & accessibility by allowing users t
Yesterday, the crypto market experienced a pullback of 11.64%, equivalent to $316 billion of the total market value, and managed to bounce back by 6.39%. The crypto fear and greed index still remains above 80, indicating that investors' sentiment is extremely greedy despite the recent turmoil. This only shows that the bulls are still managing to overtake the bears in the coming days and weeks until the anticipated event occurs - the Bitcoin Halving.
The market needs to retrace to test the supports generated after the five-week continuous pump of the market. Traders must be very careful in placing their stop-loss orders now, as hedge fund traders want them to be liquidated.
With 5 weeks of continuous upside in the market, @NEAR Protocol now faces a slight correction and possibly more downside in the coming days. Will it hold the 6.0 support line, or will it go deeper as the Bitcoin halving approaches? Given that the previous halving chart shows a massive correction before the bull run starts and continues to a new all-time high.