The new overlords? 🤖 Those were some powerful words. In his testimony to the US Congress yesterday, the chairman of the Fed, Jerome Powell, made some brief mentions about artificial intelligence (AI).
Citing a particular focus on the industry as well as AI having the 'capacity to augment and replace labor', his statements seemed to paint the technology in a positive light.
Unsurprisingly, crypto traders immediately picked up the news, pushing the price of AI tokens to daily highs. Popular large-cap picks such as RNDR and FET have risen by 39.2 % and 43.2%, respectively. However, Powell's words might not be the only reason for AI's resurgence, as Nvidia's GTC AI conference is slated to begin in a little more than a week, and all eyes will be there. With that in mind, NEAR has also joined in the recent AI pump, surging by 32.3% from $4.21 to $5.57 as of today, largely thanks to the fact that its founder, Illia Polosukhin will be sharing the stage at the conference with Nvidia's CEO, Jensen Huang.
Editor's Take:
The GTC AI conference will start on March 18th and last three days. Though it might be too early to say, we may see some 'buy the rumor, sell the news' action here. However, we may also hear of new and exciting breakthroughs during the conference, which may cause particular niches within the AI sector to outperform or underperform. | | | "Decentralization" is a common term to hear in the cryptoverse. But what does it mean, really? | | | Spoderman, but more political 🕸️ | | Although the memecoin sector has settled down for now, there's no shortage of new meme tokens being created.
The latest trend in the memecoin space? Funnily drawn images of celebrities and politicians. Mostly based on Solana, these tokens feature a publicly-known figure drawn in the style of the iconic 'Spoderman' meme, and they have quickly become popular among the memecoin community.
Since their respective launches, tokens such as 'Jeo Boden' and 'Danold Tromp' have risen by over 174,900% and 59,900%. Many traders on X have claimed to make a fortune from these tokens, with one particular crypto degen turning $260 to $42,000 over the course of two days. As expected, the success of this new style of memecoin has spawned plenty of forks featuring other high-profile individuals such as Andrew Tate, Barrack Obama, and, of course, Michael Saylor. | | | Vertex is a DeFi platform that features spot, perpetual, and integrated money markets, powered by a hybrid order book-AMM design. Check out this article to explore its key features and how it works. | | | | What are Bitcoin Layer 2s, and how are they helping to scale the Bitcoin network? Read on to discover 7 Bitcoin Layer 2s to check out. | | | In Other News... Free cards! Coinbase is giving out free in-game items and currency for ETH NFT card game Parallel, which launched to the public in open beta last week.
Bitcoin Ordinals Project Runestone hosts an auction ahead of airdrop. The Runestone, the largest ordinal inscription by block size, has a current bid of 0.26 BTC, or $17K on the Ord City marketplace.
Enjoy the W! Cross-chain protocol Wormhole has announced more details about the upcoming launch and airdrop for its W governance token.
Imagine the Smell. Binance announced the launch of a perfume, meant to attract females to crypto, but the stunt backfired, as it was denounced as sexist.
Spain bans Worldcoin. The Worldcoin team claimed that the Spanish authority was "circumventing established procedures" to temporarily suspend the project.
BlockFi reaches $875M settlement with FTX. This will help the bankrupt lender to distribute funds back to its customers if approved.
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