The Correlation between the GPU giant's stock and BTC is down from last year.
Bitcoin's price has rebounded nearly 10% from weekend lows, with traditional markets supporting the case for continued move higher.
Compute Labs’ tokens offer fractionalized ownership of industrial-grade NVIDIA H200 GPUs, which would retail at around $30,000 for a single unit.
The company reported a 69% increase in revenue in the first quarter compared to a year ago.
Injective (INJ) could be preparing for another retest of the $10 resistance as its price attempts to confirm a key support level. Some analysts suggest that the cryptocurrency could be preparing for a breakout and a massive bullish reversal. Related Reading: SUI Breakout To $4 Imminent? Analyst Says A Correction To This Level Could Come First Injective Eyes $10 Retest Over the past month, Injective has surged around 43% from its 18-month low registered on April 7. During last month’s recovery, the cryptocurrency pumped from the $6.34 low to the $10 barrier, hitting a six-week high of $10.63 before retracing. INJ has been in a downtrend since hitting its Q4 high of $35.26, retracing nearly 75% in the last six months. Analyst Crypto Rand noted that the token has attempted to break out of the downtrend but has faced strong resistance around the $9.5-$10 range. Following its recent jump, Injective got rejected from this range, with some market watchers suggesting that it could retest the $9-$9.20 levels as support before the next breakout attempt. Amid the weekend retrace, INJ’s price has touched these levels, trading between the $9.00-$9.40 and briefly falling to $8.90 before bouncing. After the 4.8% drop, the cryptocurrency is attempting to confirm this level as support, which could help Injective gain strength for another push above the key zone and toward the $11-$12 resistance. Crypto Rand noted that a breakout of the “$10 range would trigger the bullish reversal,” which could also propel the token toward the $14 barrier, lost in early March. Notably, this level has been a key horizontal level since the November post-election pump, serving as a crucial support and resistance. INJ Ready For A Breakout? Meanwhile, analyst Sjuul from AltCryptoGems highlighted a massive, inverse Head and Shoulders pattern on INJ’s chart, noting that investors should pay attention as “this is one of the strongest reversal patterns.” This formation is a bullish reversal chart that suggests a potential shift from a downtrend to an uptrend. According to the chart, the cryptocurrency has formed this setup over the past two months, with the neckline sitting around the $10.30 resistance level. A breakout from the neckline could trigger a significant surge toward the $14 mark. Analyst Lennaert affirmed that INJ “feels like an absolute steal” at its current range, as he considers that the cryptocurrency is likely not going lower than the 2023 key support at around $5.5. The analyst suggested that if momentum flips to altcoins, INJ’s price “will be back at the highs in no time,” adding that it has “one of the strongest fundamentals of all projects out there.” Related Reading: $25 Million Pledge From Ripple Set To Benefit Teachers And Students Across The US Notably, the project announced that “For the first time ever, all of the Magnificent 7 stocks are live on-chain via Injective” to “redefine Wall Street and finance forever.” According to the May 6 statement, Apple’s APPL, Microsoft’s MSFT, Amazon’s AMZN, Nvidia’s NVDA, Meta’s META, Google’s GOOGL, and Tesla’s TSLA are now “fully tradable 24/7 through Injective’s iAsset framework and the decentralized exchange Helix. As of this writing, INJ trades at $9.25, a 27.2% increase in the monthly timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
Pundi AI, a data infrastructure platform that integrates artificial intelligence with blockchain technology, has joined the NVIDIA Inception program, according to an April 29 statement shared with CryptoSlate. The initiative, designed to support cutting-edge AI startups, will offer Pundi AI access to advanced tools, training, and market support. According to the statement, Pundi AI provides […]
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A last-minute halt on a crypto announcement underscores how Nvidia still excludes blockchain projects from its flagship programs, despite continued outreach from the sector.
El Salvador is taking a significant step toward establishing itself as a regional hub for artificial intelligence (AI). On April 21, the country’s Bitcoin Office announced that the Central American country had signed a letter of intent (LOI) with leading AI firm NVIDIA to develop sovereign AI capabilities. The agreement will pave the way for […]
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Plus: Ethereum developers privacy debate reignites, Optimum raises funds in seed round, Noble’s new ‘AppLayer’
Analysts expect occasional market dips to occur until tariff tensions ease. Coin Bureau's founder said a slight bitcoin dip may be "healthy."
Nvidia shares plummeted 8% after the U.S. banned its H20 chip sales to China, impacting equities and the crypto market.
These could be protective plays, one observer said, referring to the activity in the NVDA put options.
Nvidia will build Blackwell chips in Arizona and AI supercomputers in Texas to meet surging AI demand.
Despite a 26% drop from all-time highs, bitcoin holds steady compared to leading tech stocks, signaling increasing maturity.
The vehicle, which was created in September of last year, aims to raise $30 billion in funding.
Since President Trump won the U.S. election in November, the S&P 500 has dropped 2%, while bitcoin has gained 20%.
On Monday, NVIDIA had the largest single-day market cap loss in history, erasing $465 billion in market cap.
The selloff could provide traders an attractive entry opportunity in higher-beta altcoins such as Solana's SOL, which endured a double-digit pullback, one analyst said.
On Jan. 21, OpenAI announced the Stargate initiative, a groundbreaking project to develop advanced AI infrastructure in the United States. Stargate initiative According to the firm, the project is planning an estimated $500 billion investment over four years, and the organization intends to allocate $100 billion upfront to accelerate its goals. The project focuses on […]
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MicroStrategy has the highest 30-day implied volatility of any magnificent seven stocks.
Nvidia boss Jensen Huang unveiled the chipmaker’s latest AI supercomputer, which it plans to start selling in May for $3,000.
AI tokens are struggling to perform despite bullish sentiment around AI stocks in traditional markets.
Amid a year of high points, challenges remain. How will AI developers deal with a looming data shortage, for instance?
Ripple’s XRP has been the subject of recent media attention, and for good reason. The cryptocurrency has experienced a significant increase in 2024, with a gain of over 258% since the start of the year. XRP’s price had risen significantly from its low of $0.22 in early 2021 to approximately $2.30 as of mid-December. XRP has now surpassed stablecoin Tether (USDT) to become the third-largest cryptocurrency by market capitalization, a testament to its extraordinary growth. Related Reading: XRP Historic Moment Coming In 2025? This Crypto Exchange Believes So Linda Jones, a well-known wealth mentor, has just lately delivered her most current newsletter, which has generated a great deal of excitement among members of the international crypto community. The Beginning Of A New Technology Cycle Jones underscores that we are at the inception of a new technological cycle. She contends that digital assets are poised to revolutionize asset tokenization and money, much like the internet transformed communication. An excerpt from my weekly newsletter today: Digital assets should outperform tech stocks like the Magnificent 7 (Apple, Alphabet, Google, Tesla, Meta, Amazon and Nvidia) by possibly as much as 10x, in my opinion. Why? There are seven reasons I can think of: 1. We are early… — Linda P. Jones (@LindaPJones) December 19, 2024 Investors who are prepared to adopt this emergent asset class may capitalize on substantial growth prospects as a result of this transformation. Jones emphasizes that digital assets have historically been the most successful asset class, with Bitcoin experiencing nearly 30,000% increase over the past decade and XRP following closely behind with a 35,000% increase during the same period. Unexploited Market Potential The current low adoption rate of digital assets is one of Jones’s most compelling arguments. She observes that only 5% of individuals worldwide have invested in cryptocurrencies, indicating a vast untapped market that is awaiting development. Retail investors are currently better positioned than institutional players since they cannot fully enter the market because of regulatory barriers. However, Jones expects that institutional capital will soon flood the market in response to the expected regulations on crypto and stablecoins by early 2025. The recent proposal by US President-elect Donald Trump to exempt capital gains on digital assets situated in the United States from taxation serves to bolster this optimism. This policy has the potential to substantially increase the potential of American projects such as XRP and Cardano (ADA) by redirecting investments toward them if it is implemented. Related Reading: Can Ethereum Break $3,500 Before End Of 2024? Analyst Weighs In A Favorable Political Environment Political change is also favoring digital assets. Jones notes David Sacks’ appointment as Crypto and AI czar, citing his pro-crypto stance as PayPal COO. This leadership change shows a commitment to promoting cryptocurrencies. $XRP gonna make history next year — Bitstamp (@Bitstamp) December 20, 2024 Moreover, Congress has lately grown much more pro-crypto, creating an environment fit for regulatory clarity and expansion. As XRP and other digital assets gather pace in front of changing rules and more investor trust, Jones expects 2025 to be a decisive year for them. Other business leaders share her feelings; they believe that XRP may become historical in this year. Featured image from DALL-E, chart from TradingView
An American global chipmaker lost its bid to stop a 2018 class action lawsuit against it after the higher court dismissed its appeal. Nvidia lost its legal battle to dismiss a cryptocurrency fraud case filed by shareholders after the US Supreme Court ruled that it would no longer entertain the appeal of the chipmaker. Related Reading: […]
Nvidia has lost a Supreme Court challenge to try stop an investor-led lawsuit that says it understated its GPU sales to crypto miners.
ETH price lost the $4,000 level as Bitcoin and altcoins corrected. Is this a standard correction or is something else at play?
MicroStrategy stock has soared 94% in 2024, fueled by Bitcoin’s rally above $97,000, with $15 billion in unrealized gains.
The world’s most valuable company is focusing on AI systems or agents designed to exhibit autonomous decision-making.
Nvidia, a leading American software company, reclaims the title of the world’s most valuable company by market capitalization, topping tech giant Apple. The company’s shares jumped by 2.5% during Tuesday’s trading hours, pushing its market valuation to roughly $3.44 trillion, topping Apple’s $3.37 trillion. Related Reading: No Comeback: Binance Founder CZ Says He’s Not Returning […]