AltSignals Blog

The International Monetary Fund (IMF) voices apprehensions over Pakistan’s choice to allocate 2,000 megawatts of electricity for Bitcoin mining and AI data centers. This decision is part of Pakistan’s broader strategy to incorporate digital assets into its economy and has created complexities in ongoing financial talks. The IMF seeks clarification over legal aspects and power allocations, considering the country’s ongoing energy crisis and fiscal pressures.

Canary Capital files for a Staked Cronos exchange-traded fund with the US Securities and Exchange Commission, enabling investors to interact with Cronos crypto without direct ownership. The fund will track CRO’s price, stake a portion of its holdings, and calculate its net asset value daily. Managed by Foris DAX Trust Company, the ETF won’t use leverage, derivatives, or loan its assets. Prior collaborations with Canary Capital Group and 21Shares are also highlighted.

A groundbreaking tool by open-source intelligence service Lolarchiver can now generate detailed profiles on YouTube commenters based purely on their activity. This AI-powered tool makes digital profiling effortless, providing insights into a user’s geographical location and possible political or cultural preferences. However, concern arises as it may breach YouTube’s terms of service and potentially international data protection laws. The tool’s emergence underlines the increasing ease with which personal markers can be turned into comprehensive profiles, often without a user’s knowledge or permission.

Pi Network is experiencing a significant price drop, trading at $0.6894, with a weekly loss of 15%. Despite a surge of almost 200% at the start of May, the crypto coin couldn’t keep momentum as it declined steeply. Moving averages show that the trend for Pi Network is bearish with selling pressure. However, the newly launched Pi Network Ventures fund focuses on projects in e-commerce, fintech, gaming, and artificial intelligence, aiming to create long-term value.

A crypto trader lost over $500,000 following a series of large trades on the deUSD/USDT Curve pool, sparking criticism of onchain oracles like Chainlink, who allegedly fell victim to market manipulation. The volatility in the deUSD price triggered a liquidation on the Euler platform. Industry voices suggest a better pricing system to handle illiquid pools and increase price stability. Despite the backlash, Chainlink remains the largest oracle in operation securing around $45 billion in assets across various chains.

Bitcoin’s price slumped 2.7% to $105,000 in the past 24 hours due to decreased investor demand. The falling price triggered $210 million worth of long BTC liquidations. The bearish divergence from the RSI suggests a reduction in bullish momentum. There’s also concern about a possible slowdown in large investor acquisition. The upcoming US-China trade talks have also contributed to the drop in Bitcoin’s value. High outflows from spot Bitcoin ETFs suggest a shift in institutional investors’ interest, adding more pressure on the market.

Bitcoin profit-taking is contributing to the bullish market says research firm Santiment, as coins spend less time in wallets, indicating sustained market activity. Despite hodlers cashing in on their investments, the firm remains optimistic about the market outlook and the continued upside for Bitcoin. The analysis indicates that such behavior is beneficial for maintaining a healthy rally, and signals an active market phase not just driven by short-term speculation.

Cysic launches ComputeFi, a revolutionary platform utilizing tokenization to bring users access to high-end computing power. The model addresses the current affordability issue of powerful GPUs by tokenizing computing hardware such as GPUs, ZK chips, and mining rigs, enabling an accessible, affordable, and democratic computing power distribution. Key applications include cryptocurrency mining, rewarding users without requiring them to manage or operate the hardware directly.

Hyperliquids HYPE token shows a stunning performance with a nearly 60% rally, driven by BTC’s new all-time high and the CFTC commissioner’s positive views on perpetual futures trading. The surge has led to an all-time high in total value locked on its native Layer 1 blockchain. Learn more about the events driving HYPE’s rise and its impact on the crypto market.