Bitcoin Bitcoin +0.31% Prices surged on Wednesday after the Federal Reserve cut interest rates by 50 basis points.The Federal Open Market Committee (FOMC) cut the benchmark federal funds rate to a lower range of 4.75% to 5.00%, as many economists and traders had expected.“Recent indicators suggest that economic activity continues to expand at a robust pace. Job gains have slowed and the unemployment rate has risen but remains low. Inflation has moved further toward the Committee’s 2 percent objective but remains somewhat elevated,” the central bank said in a statement. “The Committee has grown increasingly confident that inflation is moving…
Author: Crypto Flexs
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Layer 1 smart contract platform SUI Network (SUI) is surging after announcing plans to support stablecoin USDC. Circle, the USDC issuer and payments platform, announced in a new blog post that in addition to adding USDC to the network, it will also be adding support for the Cross-Chain Transfer Protocol (CCTP), which will enable interoperability with other major blockchains. “SUI allows developers to build apps for a variety of use cases, including DeFi, gaming, DePIN, and e-commerce. With the launch of native USDC, developers can build on the industry’s largest regulated dollar-backed stablecoin. CCTP also allows developers to build cross-chain…
Bitget and Foresight Ventures announced a $30 million investment in The Open Network. These companies will purchase TON tokens and support GameFi and tap-to-earn projects. Cryptocurrency exchange Bitget and web3 investment firm Foresight Ventures have announced a $30 million strategic investment in the TON blockchain. In a September 18 announcement, the two companies said the investment would be made through the acquisition of Toncoin (TON) tokens. The partnership also seeks to accelerate the growth of The Open Network’s GameFi and Tap to Earn ecosystems. TON Ecosystem Growth Bitget and Foresight Ventures will also invest in new trends across the TON…
Jessie A Ellis 18 Sep 2024 13:57 According to the NVIDIA blog, SonicJobs used AI agents to increase job completion rates from 5% to 26%. SonicJobs, part of NVIDIA’s Inception program for startups, is revolutionizing the job search experience by leveraging advanced AI agents. According to the NVIDIA Blog, the company has significantly increased its job search completion rate, increasing it from just 5% to an impressive 26%. AI Agents Improve Job Application Rates In a recent episode of NVIDIA’s AI Podcast, host Noah Kravitz interviewed SonicJobs co-founder and CEO Mikhil Raja. Raja explained…
Bitcoin (BTC) was down at the opening of Wall Street on September 18 as the cryptocurrency market anticipated the Federal Reserve’s interest rate decision.BTC/USD 1-hour chart. Source: TradingViewBitcoin Short Liquidation Expected in FOMC CountdownAccording to data from Cointelegraph Markets Pro and TradingView, the price of BTC fell 1% as the U.S. trading session began.Traders were expecting a “big day” in the markets as the Federal Open Market Committee (FOMC) meeting and subsequent speeches and press conferences dominated the spotlight.“Price is just below key resistance levels. Slow day expected until the ±1 hour before FOMC,” popular trader Jelle wrote in part…
that Ethereum NetworkBlockchain Network, one of the leading blockchain solutions, has once again taken a hit over the past few days with the average staker profit dropping sharply. This indicates a decrease in interest and engagement from users or stakers. Ethereum Stakers Face Declining Profits On the negative side, the average yield on Ethereum staking has fallen sharply, hitting new lows as network activity has slowed significantly. EthereumParticipants in the proof-of-stake mechanism have seen their rewards decrease as demand on the network has decreased and transactions have decreased, which has had a significant impact on staking returns. Kyle Doops, a…
contributor Posted: September 18, 2024 Demand for ETH has weakened as funds have flowed out of Ethereum ETFs, indicating less investor interest. Open interest has plummeted, but major traders are long, suggesting there may be changes ahead. Ethereum (ETH) ETFs have been experiencing sustained outflows recently, despite previous high expectations that the ETF would drive demand. Many analysts have observed this phenomenon, and some believe that this could be the reason why ETH has been weak. Woo Blockchain reported that net outflows from Ethereum spot ETFs peaked at $15.114 million on September 17. Next, Ethereum ETF data showed that most…
According to one analyst, Chicago Mercantile Exchange (CME) Bitcoin futures traders increased short positions ahead of Wednesday’s Federal Reserve rate announcement, suggesting they are taking a cautious stance in the market.The Federal Open Market Committee (FOMC) is expected to release its latest rate decision at 2 p.m. ET on Wednesday, and rate traders are currently expecting a 50 basis point cut in the benchmark rate, the first in four years.K33 analyst David Zimmerman noted that CME traders have increased their short positions over the past two days. “Active CME market participants have increased their exposure by 5,500 bitcoin over the…
Peter Zhang 18 Sep 2024 14:33 Runway partners with Lionsgate to develop AI models that enhance filmmaking and explore innovative content creation opportunities. According to runwayml.com, Runway and Lionsgate have announced a groundbreaking partnership that aims to revolutionize the filmmaking industry using artificial intelligence (AI). Developing innovative AI models The collaboration will focus on developing and training new AI models tailored to Lionsgate’s extensive proprietary catalog. The initiative is designed to help Lionsgate Studios, filmmakers, directors and other creative professionals improve their work by creating cinematic video content. They can then refine their videos…
Solana started the year as one of the most promising blockchains, but reports of inflated transaction volumes, high bot activity, and hundreds of millions of dollars paid out each month to network validators have become some of the industry’s most debated topics. Magazine decided to sort out the myths from the facts. Some of the claims are partly true, while others are misleading. Claim: Solana’s inflation rate is too high Some industry watchers criticize the network for its high inflation rate, often quoting Messari’s statistic that the circulating supply of SOL has risen 13.4% over the past year. Growth of…