Fetch.ai revs up AI development with $100m infrastructure boost

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Fetch.ai revs up AI development with $100m infrastructure boost

Fetch.ai, a blockchain project focused on artificial intelligence, announced a significant investment in its infrastructure. The $100 million initiative, called Fetch Compute, aims to bolster the capabilities of developers and users within the Fetch.ai ecosystem.

Fetch Compute will provide developers with enhanced tools, greater computing power, and improved training resources for AI projects. Additionally, the program will offer GPU credits to users. These credits can be earned by staking Fetch.ai’s native token, FET, and can then be used to pay for access to the platform’s graphical processing units.

Fetch.ai believes this investment will accelerate innovation within its ecosystem. By giving users greater access to computational resources and rewards for participating, Fetch.ai hopes to foster the development of groundbreaking AI projects. This news comes on the heels of a surge in AI-related tokens, likely fueled by Nvidia’s impressive Q4 2024 earnings report. Fetch.ai’s token, FET, has seen a price increase of over 230% since the report.

perfect storm pushes Bitcoin and gold to record highs

On March 5th, both Bitcoin and gold reached record highs for the first time in the same day since Bitcoin’s launch in 2009. This synchronized surge has some analysts questioning the traditional role of fiat currencies.

Bitcoin broke above $69,200 for the first time ever, following gold’s achievement of a new all-time high of $2,130 just a few hours earlier. This event has been interpreted by some as a sign of weakening faith in fiat currencies, as both Bitcoin and gold are often seen as hedges against inflation and economic uncertainty.

Experts offer various explanations for the simultaneous rally. Some believe it’s driven by the expectation of future interest rate cuts aimed at managing national debt burdens. Others point to a combination of factors, including high inflation, geopolitical tensions, and the ongoing demand for alternative assets.

Within the Bitcoin community, the excitement is fueled by the upcoming halving event, which is expected to further limit supply and potentially drive prices even higher. The recent launch of Bitcoin ETFs in the US is also seen as a contributing factor.

forget the halving, US ETFs could push Bitcoin to six figures this year

Bitcoin’s recent price surge might signal a shift in investor behavior. On-chain data suggests a year-long accumulation phase may be ending, with holders of Bitcoin in “accumulation addresses” starting to sell. These addresses typically hold onto Bitcoin without spending and have seen a 2.6% decrease in holdings since February.

However, analysts believe this is not necessarily a bearish sign. Historically, these accumulators tend to hold for long periods before selling at the beginning of a major price increase. While the number of coins in these addresses is down, the overall accumulation trend since mid-2018 remains strong, contrasting with a sharp decline before that period.

This changing dynamic, coupled with the launch of US Bitcoin ETFs in January, is leading some to believe a new era for Bitcoin is upon us. The consistent buying pressure from ETFs is a novel development, and some analysts like Timothy Peterson of Cane Island Alternative Advisors predict this could push Bitcoin to $100,000 by October 2024.

Binance.US in clash with SEC over customer asset info in ongoing probe

The US arm of crypto giant Binance, Binance.US, is locked in a battle with the Securities and Exchange Commission over access to information. The SEC accuses Binance.US of being slow to respond to inquiries regarding customer asset custody and other areas of interest in its ongoing investigation.

In a March 5th joint status report filed with a Washington D.C. District Court, the SEC claims Binance.US has been “unable or unwilling” to answer key questions. The SEC wants information on how Binance.US handles customer assets, particularly if employees from its non-US counterpart have access. They believe Binance.US hasn’t provided enough evidence to disprove this access. Binance.US vehemently denies these claims, asserting they’ve fully complied with the SEC’s requests, including providing thousands of documents and facilitating inspections of customer asset storage.

This is just the latest development in a larger legal saga between Binance and US regulators. The SEC sued Binance, Binance.US, and founder Changpeng Zhao last June for allegedly offering unregistered securities and mishandling customer assets. In November, Binance settled with the Department of Justice on separate money laundering and terrorism financing charges. CZ is also facing criminal charges related to money laundering and awaits sentencing in April.

trailing stop loss and trailing take profit orders

The crypto market, while exciting, can be unpredictable. To navigate the ups and downs and maximize your profits, you need the right tools. Trailing Stop Loss and Trailing Take Profit orders are two powerful weapons in your trading arsenal 🗡

• Trailing Stop Loss acts like a safety net 🕸

You set an initial stop price, a percentage below your buy price. As the market rises in your favor, the TSL automatically adjusts upwards, locking in profits. If the market reverses 👉 the TSL triggers a sell order at the adjusted price, limiting your losses.

• Trailing Take Profit works similarly, but in reverse ◀️

You set a target profit percentage above your buy price. As the market moves up, the TTP adjusts, ensuring you capture those gains. If the market dips 👉 the TTP remains at its highest point, protecting your profits.

📚 Want to learn more about trailing stop loss and take profit orders, including how to set them up? Check out our guide for a deeper dive!

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top crypto meme of the week

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