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Altseason Is the Reason: 7 Altcoins to Buy Before They Take Off – InvestorPlace

Now may truly be the time for investing in the best altcoins to buy. There is reason to believe that a so-called altseason will soon begin. Remember, altcoin refers to all other cryptocurrencies except Bitcoin (BTC-USD).

Altseason generally refers to a period of strength for all alternative assets. That strong period generally occurs after Bitcoin tops out and investors rotate back into more speculative altcoins. So, that begs the question: why might Bitcoin top out soon? For one, investors have seen BTC prices struggle to maintain the $70k mark.

BTC prices will likely rise again following the upcoming halving. After that, prices will likely turn out, prompting a new altseason. That said, lets take a look at seven altcoins poised to profit as that shift emerges.

Source: DUSAN ZIDAR / Shutterstock.com

Stratos (STOS-USD) is one of the more interesting altcoins for crypto investors. It is a project that benefits from The enthusiasm around artificial intelligence overall. That enthusiasm has propelled the stock market much higher over the past year. It is now spilling into cryptocurrency, and Stratos is a beneficiary.

Stratos is essentially a decentralized platform for databases, storage and computing. Those are the areas where investors have spent substantial money chasing AI gains in the stock market. Stratos offers the same opportunities but with the twist of decentralization.

The project was designed to overcome the scaling issues plaguing blockchain networks while maintaining the benefits. It remains attractive along with several other decentralized storage platform cryptos. Investors are interested in the offering, given that prices have doubled over the past few months. The confluence of AI and cryptocurrency is just beginning to yield returns for investors. Thus, Stratos and other altcoins in that niche will be the ones to watch moving forward.

Source: Pixabay

Dogecoin (DOGE-USD) is one of the best choices for investors up to any altseason. It is also the original meme coin and arguably the most stable cryptocurrency during periods of speculation.

Thats why I believe investors should consider Dogecoin at this time: It isnt going to crater spectacularly like other upstart meme coins often do. At the same time, Dogecoin also offers a chance for strong returns.

What else is good about Dogecoin is that it does very well, as Bitcoin has risen. Dogecoin is essentially a bastion of stability for speculators at any time.

There are also rumors that Elon Musk could integrate Dogecoin as a payment method at X. If Musk does integrate Dogecoin with the former Twitter, its value should certainly increase, given the increased utility. A relative lack of utility is one of the main criticisms of meme coins like Dogecoin. It certainly would be nice to see the project evolve into more than the joke it originally intended to be.

Source: Maxx-Studio / Shutterstock.com

Bittensor (TAO-USD) has become one of the hottest cryptocurrencies, and for good reason. It provides a lot of utility and gives it in the red-hot area of machine learning. In other words, it does something, and what it does is growing.

That trending area is machine learning. Investors are well aware of how important machine learning is too artificial intelligence. Those fields have sent stocks much higher, and that performance is now spilling into the cryptocurrency market.

Bittensor essentially enables collaborative training between disparate machine-learning models. It then rewards those projects TAO based on the utility they provide. Thus, Bittensor is a marketplace that assigns value to various machine learning models based on their ability. Demand for Bittensors services was high, sending prices from $50 to over $700 within the last few months. It has since corrected back down to $530.

It remains one of the most interesting projects in the machine-learning crypto space and clearly provides utility.

Source: Maurice NORBERT / Shutterstock.com

Render (RNDR-USD) is a cryptocurrency that has seized upon one of the most important trends in the market lately: excess resource distribution and allocation. Projects like Filecoin (FIL-USD) and Storj (STORJ-USD) are prime examples of that trend. What all of these projects have in common is a business offering predicated on the allocation of excess resources.

Filecoin and Storj are focused on excess memory and data storage. Conversely, Render utilizes the excess GPU capacity that we have on our devices. If we choose, we can sell that excess GPU capacity, which is in high demand In places like digital content creation.

Renders growth trajectory has been impressive. The project has multiplied in value several times since late 2023. An investor who staked the position in early September would have seen their capital multiplying value 10 times by mid-March. It has been corrected since then but should continue to be strong based on the utility it offers.

Source: Rcc_Btn / Shutterstock.com

Solana (SOL-USD) continues to emerge as the primary competitor to Ethereum (ETH-USD). Investors are well aware that its transaction speeds and fees are better than those offered by Ethereum. That has been the narrative surrounding Solana for the past several years.

The data regarding those specs continues to be impressive. Recently, it was revealed that 1 million transactions per second are possible on the network. Ethereum claims its TPS could run as high as 100,000 in the coming years, though current TPS rates are much lower and closer to 15.

It seems clear that Solana is proving itself to be much more capable than Ethereum. Ethereum does not seem capable of increasing its transaction speed despite claims to the contrary. Those transaction rates cost Solana a lot of money, and the door remains wide open for it to continue growing. Ethereum may be in the same spot in a few years, and Solana could realistically usurp its position.

Source: solvertv / Shutterstock.com

Myro (MYRO-USD) is a Solana-based meme coin and an appropriate cryptocurrency to discuss. Solana-based projects are going to continue to be strong. I think that to be true, as primarily discussed above, Solana has much better specs than Ethereum, which is the primary alternative.

Myro is essentially an alternative to Dogecoin. The projects are similar in that they both leverage dogs in their branding. However, Dogecoin leverages the Ethereum network, whereas Myro leverages Solanas.

Evidence continues that Solana may become the better layer one protocol in the long run. Ethereum established a dominant position but continues to be played by speed, efficiency and price issues, which could eventually lead to Solana overtaking Ethereum. That would benefit meme coins/altcoins that leverage its network, including Myro. Thats one of the best reasons to consider investing in the relatively unknown cryptocurrency.

Source: shutterstock.com/ChrisStock82

Pepe (PEPE-USD) is another meme coin full of takeoff potential. The highly visible meme coin took off in 2023 and continues to be extremely inexpensive. Thats part of the reason to believe in its continued potential: At $0.0000066, Pepe is so cheap investors can scoop up a lot of it for very little. It also has so many zeros after the decimal point that rapid gains become achievable.

In that regard, its a lot like Shiba Inu (SHIB-USD) was a few years ago. Its also similar to Shiba Inu in that it really has no utility or value in the real world. Its a speculative vehicle by which traders attempt to capture rapid, sometimes impressive returns.

Pepe also has controversy behind it. The character has been associated with multiple movements, whether the creator likes it or not. The point here is that controversy draws attention, and that attention can galvanize investment.

On the date of publication, Alex Sirois did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Alex Sirois is a freelance contributor to InvestorPlace whose personal stock investing style is focused on long-term, buy-and-hold, wealth-building stock picks. Having worked in several industries from e-commerce to translation to education and utilizing his MBA from George Washington University, he brings a diverse set of skills through which he filters his writing.

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ARB and MATIC holders pursue better gains on Milei Moneda presale – crypto.news

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Amid declines in Arbitrum and Polygon signaling market concerns, Milei Moneda stands out with promising governance, NFT access, and a huge launch ROI.

As the cryptocurrency market experiences turbulence, two major tokens, Arbitrum (ARB) and Polygon (MATIC), have faced significant challenges. Amid this struggle, a new player, Milei Moneda (MEDA), has entered the arena, emerging as a haven for investors.

March 2024 saw a flurry of token unlocks, with Arbitrum (ARB) taking the lead. According to various reports, Arbitrum unleashed $2.212 billion worth of ARB tokens, representing a staggering 87.20% of the altcoins total circulating supply.

This significant ARB token unlock was followed by a downtrend in its altcoin price performance. In March, Arbitrum (ARB) saw over a 30% price decline, raising concerns about its future trajectory.

This troubling trend has cast a shadow over Arbitrums (ARB) performance, pushing investors to other promising tokens. Meanwhile, based on the significant number of ARB tokens currently in the market, market analysts predict a continuous downtrend for the altcoin.

Like Arbitrum, Polygon has also seen its share of troubles. Despite recent developments, such as the Napoli upgrade, aimed at bolstering Polygons consensus mechanisms, the ecosystem continues to struggle.

In the past 30 days, MATIC has witnessed over a 30% decline in its price, leaving 51% of investors in losses. Polygons Total Value Locked has also declined, dropping to $1 billion. This stark decline from the highs seen in 2021 points to reduced investor activity and participation in the ecosystem.

Polygons dwindling TVL raises concerns about its ecosystem health and reliability, with worries emerging about its ability to attract and retain liquidity providers. At this rate, price projections show MATIC bears holding control in the coming weeks.

As top altcoins ARB and MATIC, struggle, investors have found solace in Milei Moneda, a fresh meme coin making waves in the crypto sphere. Drawing inspiration from Argentinas President, Javier Milei, this meme coin has quickly gained recognition and popularity.

Operating as more than a cryptocurrency, Milei Moneda provides investors with a sense of community engagement and governance rights. The projects native token, MEDA, is the key to membership, granting access to exclusive benefits such as access to NFTs, staking rewards, and monthly giveaways.

MEDAs presale is currently in progress, offering investors the chance to acquire tokens at a price of $0.0125 in Stage 2. This presents an enticing opportunity for early investors, with plans to launch MEDA on Uniswap at $0.020 per token. With the launch date set for May 21, investors are flocking in, booking their spots for a 60% ROI.

Moreover, earlier investors who bought MEDA at $0.010 will realize a 100% ROI, with 10x gains once Milei Moneda launches the token on exchanges.

To learn more, visit the Milei Moneda website or reach out on Telegram.

Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.

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Elon Musk: AI will be smarter than any human around the end of next year – Ars Technica

Enlarge / Elon Musk, owner of Tesla and the X (formerly Twitter) platform on January 22, 2024.

On Monday, Tesla CEO Elon Musk predicted the imminent rise in AI superintelligence during a live interview streamed on the social media platform X. "My guess is we'll have AI smarter than any one human probably around the end of next year," Musk said in his conversation with hedge fund manager Nicolai Tangen.

Just prior to that, Tangen had asked Musk, "What's your take on where we are in the AI race just now?" Musk told Tangen that AI "is the fastest advancing technology I've seen of any kind, and I've seen a lot of technology." He described computers dedicated to AI increasing in capability by "a factor of 10 every year, if not every six to nine months."

Musk made the prediction with an asterisk, saying that shortages of AI chips and high AI power demands could limit AI's capability until those issues are resolved. Last year, it was chip-constrained, Musk told Tangen. People could not get enough Nvidia chips. This year, its transitioning to a voltage transformer supply. In a year or two, its just electricity supply.

But not everyone is convinced that Musk's crystal ball is free of cracks. Grady Booch, a frequent critic of AI hype on social media who is perhaps best known for his work in software architecture, told Ars in an interview, "Keep in mind that Mr. Musk has a profoundly bad record at predicting anything associated with AI; back in 2016, he promised his cars would ship with FSD safety level 5, and here we are, closing on an a decade later, still waiting."

Creating artificial intelligence at least as smart as a human (frequently called "AGI" for artificial general intelligence) is often seen as inevitable among AI proponents, but there's no broad consensus on exactly when that milestone will be reachedor on the exact definition of AGI, for that matter.

"If you define AGI as smarter than the smartest human, I think it's probably next year, within two years," Musk added in the interview with Tangen while discussing AGI timelines.

Even with uncertainties about AGI, that hasn't kept companies from trying. ChatGPT creator OpenAI, which launched with Musk as a co-founder in 2015, lists developing AGI as its main goal. Musk has not been directly associated with OpenAI for years (unless you count a recent lawsuit against the company), but last year, he took aim at the business of large language models by forming a new company called xAI. Its main product, Grok, functions similarly to ChatGPT and is integrated into the X social media platform.

Booch gives credit to Musk's business successes but casts doubt on his forecasting ability. "Albeit a brilliant if not rapacious businessman, Mr. Musk vastly overestimates both the history as well as the present of AI while simultaneously diminishing the exquisite uniqueness of human intelligence," says Booch. "So in short, his prediction isto put it in scientific termsbatshit crazy."

So when will we get AI that's smarter than a human? Booch says there's no real way to know at the moment. "I reject the framing of any question that asks when AI will surpass humans in intelligence because it is a question filled with ambiguous terms and considerable emotional and historic baggage," he says. "We are a long, long way from understanding the design that would lead us there."

We also asked Hugging Face AI researcher Dr. Margaret Mitchell to weigh in on Musk's prediction. "Intelligence ... is not a single value where you can make these direct comparisons and have them mean something," she told us in an interview. "There will likely never be agreement on comparisons between human and machine intelligence."

But even with that uncertainty, she feels there is one aspect of AI she can more reliably predict: "I do agree that neural network models will reach a point where men in positions of power and influence, particularly ones with investments in AI, will declare that AI is smarter than humans. By end of next year, sure. That doesn't sound far off base to me."

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Telegram-linked Toncoin flips Cardano to become 9th-largest cryptocurrency – Cointelegraph

Toncoin (TON) flipped Cardanos ADA (ADA) token to become the ninth-largest cryptocurrency by market capitalization on April 9. Can Toncoin continue its parabolic rise?

Following a 13% daily price increase, TON rose to $6.65 as of 1:45 pm UTC to reach a $23 billion market capitalization, overtaking the ADAs $22 billion market cap, according to CoinMarketCap data.

The rally comes a day after TON Society developers set aside $5 million in Toncoin to incentivize users to verify their identity using palm-scanning technology. The project aims to enable digital identity verification for Telegram users over the next five years and will distribute 1 million TON to users participating in the proof-of-personhood program.

The increased interest in TON helped it outperform ADA. TONs price has surged over 135% during the past month, while ADAs price has fallen 15%.

Zooming out further, TONs price increased 183% year-to-date, while ADA price fell 1.30%.

TON launched a $115 million community incentive program on March 20, with $38 million for token mining and user incentives, $22 million for airdrops, $15 million for The League developer ecosystem, and $40 million for liquidity pool boosts. The program aims to drive more user adoption.

In contrast with Toncoin, ADA saw little interest this year, as investor attention was focused on the United States Bitcoin exchange-traded funds (ETFs) and other major blockchain upgrades, such as Ethereums Dencun upgrade.

Related: With 10 days to the halving, analysts predict $150K Bitcoin top

Toncoins price action has been drastically outperforming Dogecoin (DOGE). TON rose 130% during the past month, while DOGE only gained 14.8%. Year-to-date, TON is up 177%, while DOGE is up 108%, according to TradingView.

While Dogecoins price action is purely based on speculation-driven demand, Toncoins utility within the Telegram messaging app can lead directly to its price appreciation with increasing user uptake.

On the downside, Toncoins token distribution could raise concerns among retail investors. According to CoinCarp data, over 60% of Toncoin is held by the 10 largest holders, while 93% of the supply is held by the 100 richest holders.

Related: Telegram Mini Apps are Trojan horse for mass blockchain adoption TON investments director

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

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Cryptocurrency: 3 Coins You Should Buy For The Bull Run – Watcher Guru

As the cryptocurrency market gears up for another potential bull run, investors and traders are eagerly seeking the next big opportunities to maximize their returns.

With numerous digital assets vying for attention, it can be challenging to identify the coins with the most promising prospects. In this article, we will explore three cryptocurrencies that have the potential to deliver impressive gains during the upcoming bull run: Solana (SOL), Cardano (ADA), and Dogwifhat (WIF).

Also read: Can Solana Hit $300 After Bitcoin Halving?

Solana, a high-performance blockchain platform, has been making significant strides in the crypto space by scaling with the demands of decentralized applications (dApps) and decentralized finance (DeFi). With its unique consensus mechanism and ability to process thousands of transactions per second, Solana has attracted a growing number of developers and projects to its ecosystem.

Currently trading at $182.53, SOL has experienced a 1.52% increase in the last 24 hours, indicating positive market sentiment. Solanas unique features and expanding ecosystem make it a promising investment opportunity for the upcoming bull run.

Also read: Shiba Inu Forecasted To Hit $0.0002: Heres When

Cardano, a third-generation blockchain platform, has garnered attention for its scientific approach to development and its focus on sustainability, scalability, and interoperability. With a strong emphasis on peer-reviewed research and formal verification, Cardano aims to address the challenges faced by previous blockchain networks.

ADA, the native token of the Cardano platform, is currently trading at $0.6083, with a 3.13% increase in the last 24 hours. As Cardano continues to roll out new features and upgrades, such as smart contract functionality and layer 2 scaling solutions, the demand for ADA is expected to rise.

Also read: Cryptocurrency: 3 Trending AI Coins To Buy For Gains

Dogwifhat, a relatively new entrant in the meme coin space, has quickly gained traction among investors and traders looking for the next big opportunity. With its unique branding, community-driven approach, and growing popularity on social media platforms, WIF has the potential to deliver impressive returns during the upcoming bull run.

Currently trading at $4.17, WIF has witnessed a remarkable 17.45% increase in the last 24 hours, showcasing the strong market interest in this emerging meme coin. As the bull run unfolds and investors seek out high-potential cryptocurrencies, Dogwifhats unique value proposition and viral marketing strategies could propel it to new heights.

While Solana, Cardano, and Dogwifhat present exciting opportunities for investors during the upcoming bull run, it is crucial to remember that the cryptocurrency market is highly volatile and subject to rapid changes in sentiment and market conditions.

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Unsolved mystery: How much power is crypto using? – E&E News by POLITICO

As concerns grow about what a flood of new computers, data centers and artificial intelligence operations means for the electric grid, one industry remains a massive question mark: cryptocurrency.

The U.S. Energy Information Administration estimates that mining for bitcoin and other digital currencies accounts for 0.6 to 2.3 percent of the nations electricity use. But that figure is just an approximation based on worldwide data collected by Cambridge University and publicly available information about 52 crypto mining sites.

A bid to have the agency a nonpartisan data arm of the Department of Energy collect more detailed information on how crypto miners use electricity was stymied by a lawsuit and wont be revived until after a public review. That means regulators, legislators and even power providers dont have detailed data about how an industry that has exploded in just a decade could affect the grid in the future.

Theres just not a lot of transparency, said Ben Hertz-Shargel, the global head of grid edge at consulting firm Wood Mackenzie who focuses on topics such as demand flexibility and a decentralized power system. You can look at the companies that are publicly traded, and theyll discuss plans with estimates of megawatts [consumed]. But actual demand may be very different, so you only have partial clues.

Conditions on the U.S. grid may become increasingly tight. A December 2023 report from the consulting group Grid Strategies found that the forecast for electricity demand over the next five years nearly doubled over the past year, thanks to commitments for new industrial sites, data centers, extreme weather, and the electrification of homes and cars.

The EIA estimates that U.S. electricity demand could increase as much as 15 percent by 2050, numbers that Energy Secretary Jennifer Granholm has said literally keep her up at night.

Crypto companies acquire virtual coins by solving a series of computational puzzles, a mining process that requires computers to run for hours on end. Because electricity is essentially the only expense and the price of a digital coin is the source of revenue, the industrys electricity use is typically dependent on bitcoin prices.

Right now, thats a bull market. The price of bitcoin, the largest cryptocurrency, has increased nearly 2.5 times since the end of September. That could grow after the Securities and Exchange Commission approved 11 bitcoin funds for trading on U.S. markets, which makes the assets more accessible.

According to the University of Cambridges Centre for Alternative Finance which models bitcoin electricity consumption based on factors like prices, mining equipment and energy efficiency power demand for crypto mining has also risen over six months, from an estimated 14,000 megawatts daily at the end of September to more than 19,000 MW last week.

That means utilities could see a massive load shift based on economic factors, not weather or population growth.

A February 2023 BloombergNEF report examining the main power market in Texas concluded that peak energy prices could increase by 30 to 80 percent based on the influx of cryptocurrency mining. Power prices, the report found, will be a function of new bitcoin mining facilities.

That variability a load that could shift based on market prices, not on more predictable factors like weather or population growth has led to increasing calls for transparency. Eight Democratic lawmakers, including Sen. Elizabeth Warren of Massachusetts, wrote in a February 2023 letter to DOE and EPA that a mandatory disclosure regime is critical. That letter predated the EIAs survey request.

Every day is urgent, said Mandy DeRoche, a deputy managing attorney of the clean energy program at the environmental group Earthjustice. The incentives for mining are getting so much higher. Between the price of bitcoin and extreme weather, the combination is a danger to our grid and a danger to externalizing costs on other ratepayers and on the environment.

But even some in the industry say more transparency around electricity is necessary and could help miners play a key role in protecting the grid. Cryptocurrency miners can soak up excess electricity and can ramp down quickly to reduce demand at times when the grid is at risk.

We want to supply some of this information, especially about how the industry can curtail and actually benefit grid reliability, said Tom Mapes, president of the Digital Energy Council, which advocates for cryptocurrency mining. Theres an opportunity for us to show how we can be flexible.

The EIAs request seemed simple: Have 82 mining companies report the electricity used at their 150 mining facilities, as well as the electricity sources they rely on.

It was made in January under an emergency order approved by the White House, with EIA Administrator Joe DeCarolis saying the industrys rapid growth and existing strain on the grid created heightened uncertainty for power markets.

The industry, however, protested. A lawsuit filed by the nonprofit Texas Blockchain Council and Riot Platforms, a large mining company, said the agency had not properly sought public comment and wouldnt commit to protecting proprietary information. They charged that the legally defective survey would pose a risk to their operations.

Thats in line with comments Riot made in a February filing to the Securities and Exchange Commission, where the company warned that bitcoin mining will be a focus for potential increased regulation in the near- and long-term.

The company added that it was possible the planned EIA survey or similar data collection would be used to generate negative reports regarding the Bitcoin mining industrys use of power and other resources, which could spur additional negative public sentiment and adverse legislative and regulatory action against us or the Bitcoin mining industry as a whole.

An agreement with the companies resulted in EIAs move to pull the emergency survey and committing to seek public comment before launching another survey. EIA spokesperson Chris Higginbotham said last month that there was no update on the timing of the survey.

Other grid watchdogs are also closely watching how cryptocurrency grows. In its 2023 Long-Term Reliability Assessment, the North American Electricity Reliability Corp. wrote that the unique characteristics of cryptocurrency mining mean that potential growth can have a significant effect on demand and resource projections as well as system operations.

The watchdog organization said it had not previously covered cryptocurrency in its long-term projections but that the industry could impact load forecasting methods because of its flexibility.

Wood Mackenzies Hertz-Shargel also said it would be important to know how mines work on an hourly basis in response to fluctuating power prices or other factors that regulators may not have considered. Spikes at certain times of day, for example, could mean utilities have to plan different power sources or anticipate systemwide peaks at unusual times.

Thats different from data centers or certain industrial users, which typically run 24 hours a day on end and arent in a position to turn up or down based on grid demands. Many data centers are also backed by large technology companies that have their own internal climate goals and have the financing to link their operations to new renewable energy projects.

Crypto companies, which are newer and whose profitability fluctuates based on the currency, typically dont have the same heft as those tech giants to establish their own renewable power and are left to pull electricity from the grid.

The EIA does survey data centers as part of the Commercial Buildings Energy Consumption Survey, which was last conducted in 2018. Although the data collection allowed EIA to assess how it could publish data center estimates, that survey did not separate out data center use as a separate building type because of a small sample size and low cooperation rate, Higginbotham said.

Accessing crypto data typically means going through filings for companies that are publicly traded or relying on voluntary disclosures. Elliot David, head of climate strategy and partnerships for the Sustainable Bitcoin Protocol, is also working to have miners communicate their energy use and rely more on renewable power where available.

The level of transparency really varies, said David. Its hard to contextualize energy consumption sometimes because theres a whole chain of energy and digital asset structure that needs to be factored in.

Despite the Texas Blockchain Associations role in fighting the EIA survey, the Lone Star State may actually have the most insight into the industry. A 2023 law requires cryptocurrency miners above a certain size to register with the state and disclose their anticipated load to the Electric Reliability Council of Texas (ERCOT), the grid operator for most of the state.

Texas Blockchain Council President Lee Bratcher said in an email that ERCOT can view nuanced and minute by minute energy consumption data for bitcoin miners in Texas. This is essential for grid operations and bitcoin miners are proud to be the most flexible load on the grid.

ERCOT has a large flexible load taskforce to track their impact on the grid and work on ways to better integrate them into the grid.

In a statement, ERCOT said that the grid operator is looking at variables including outside factors tied to global economics that impact the supply and demand curve and in turn the overall cost of electricity and cost to the consumer.

Instances where mines unexpectedly disconnect or display inconsistent behavior during resource scarcity events could represent risks to grid reliability.

Some groups supportive of the EIA survey say the agency was off base in the haste with which it sought the data. The agency said the quick rise in bitcoin and the threat of grid stress during cold weather made it imperative.

Mapes of the Digital Energy Council, who formerly worked at DOE, said he could see that some members might feel unfairly singled out by the rushed process and that it is important to not just cherry-pick certain data points.

The fact that the Biden administration has proposed a 30 percent tax on the electricity used by cryptocurrency miners, including in its most recent budget request, adds to the concerns that the industry could be unfairly targeted.

Groups had also raised concerns about the EIA collecting information on machine types, locations of data centers and energy contracts.

Instead, Mapes said, the industry could tell a compelling story about its unique role in grid planning. Mines can support renewable energy, he said, by soaking up energy that might otherwise be curtailed or by locating with large new energy developments. And by ramping up and down, he said, the projects can help ensure stability on the grid.

A responsible partner could even sacrifice mining at a time when prices are high to accommodate a request to cut back on load, according to Mapes.

Depending on the utility and service area, miners may also be compensated for reducing their load.

Isaac Holyoak, chief communications officer for the Nevada-based cryptocurrency firm CleanSpark, said the company emphasizes open communication with utilities and power providers. CleanSpark, he said, targets communities that have excess energy and then seeks contracts that allow utilities to call on them to curtail it during times of need.

Those instances, he said, are generally infrequent, often representing just a few hours during a year.

Transparency is the most important thing, Holyoak said. Our customers are the utilities. We want a mutually beneficial relationship so we both get something out of it.

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Millennials and Gen Z are as likely to own cryptocurrency as they are real estate – PR Newswire

New Policygenius survey shows younger Americans are also more likely to try viral "hacks" and turn to social media for financial advice

NEW YORK, April 9, 2024 /PRNewswire/ -- When it comes to wealth, younger Americans specifically millennials and Gen Z have some catching up to do, especially considering adult members of these generations own just 74 cents for every $1 of wealth that baby boomers owned at the same age.

New data released todayshows that together Gen Z (ages 18-26) and millennials (ages 27-42) are almost equally likely to own cryptocurrency (21%) as they are to own real estate (20%). They are also more likely to try financial "hacks," often popularized on social media. In fact, 62% of the members of these younger generations have tried at least one of the six financial hacks we asked about in the survey, with the "no spend challenge" the most popular with Gen Z (21%) and almost two in 10 millennials (19%) having tried extreme couponing. Only 36% of Gen X (ages 43-58) and baby boomers (ages 59-77) have tried any of the financial hacks maximizing credit card rewards was the most popular hack for these generations (21% and 19% respectively).

New survey shows younger Americans specifically millennials and Gen Z have some financial catching up to do.

The 2024 Policygenius Financial Planning Survey found that the feelings different generations have about their finances vary greatly as well, with around three-quarters of baby boomers (78%) saying they feel at least somewhat proud of their finances, compared to 70% of millennials and 64% of Gen Z.

The survey also found that:

"Younger generations store their wealth differently than their Gen X and boomer counterparts, including novel investments like cryptocurrency. This could show a bigger willingness to take risks with their money, but it could also reflect obstacles they can't control, like the growing housing shortage," Myles Ma, Certified Personal Finance Counselor at Policygenius, said. "Buying a house may be out of reach at the moment for many, but taking big financial risks isn't necessarily going to help. More time-tested options stocks, bonds, life insurance will serve you better in the long run, especially if something happens to you and your loved ones need the financial coverage for their living expenses, like paying a mortgage or college tuition."

Policygenius commissioned YouGov to poll 4,063 Americans age 18 or older. The survey was carried out online from Oct. 16 through Oct. 19, 2023. The results have been weighted to be representative of all U.S. adults. The average margin of error was +/- 2%.

About PolicygeniusPolicygenius, a Zinnia company, is a one-stop insurance platform that makes it easy to compare and buy policies, get unbiased expert advice, and manage an insurance portfolio in one seamless digital experience. Alongside the intuitive enterprise technology solutions and insights offered by parent company Zinnia, an Eldridge business, Policygenius is helping create better end-to-end insurance experiences for shoppers, advisors, and insurers alike and enabling more people to protect their financial futures along the way.

For more information:Brooke Niemeyer Director of Media Relations [emailprotected]

SOURCE Policygenius

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Exploring Cryptocurrency Trading in the Eurozone: What’s Happening and What’s Next – Modern Diplomacy

Cryptocurrencies are getting a lot of attention in the Eurozone lately. People are curious about why money is flowing into these digital currencies and what it means for trading. In this article, well take a closer look at why more money is coming in, how people are trading cryptocurrencies, the challenges they face, and what the future might hold.

Lots of money is pouring into cryptocurrency markets in the Eurozone. Why? Well, rules about cryptocurrencies are becoming clearer, economies are changing, and people worldwide are becoming more interested in digital money. This all adds up to more money being invested in cryptocurrencies.

Margin trading is akin to taking out a loan to invest in cryptocurrencies. This approach can potentially boost your profits, as it allows you to trade with more money than you actually have. However, its crucial to grasp that this amplified potential for gains also comes with increased risk. If the market moves against your position, you could end up losing more than your initial investment. Therefore, its essential to thoroughly understand the risks associated with margin trading before diving in.

Bitcoinist offers a comprehensive list of top crypto exchanges with margin trading services. Whether youre a seasoned trader or just starting out, these platforms provide the tools and resources you need to engage in margin trading with confidence. Dont miss out on the opportunity to maximize your trading potential with margin trading.

Trading cryptocurrencies in the Eurozone is fast-paced. People are buying and selling different digital currencies on many different websites. This creates a lot of action in the market, with prices going up and down quickly. Understanding how this trading works is key for anyone getting involved.

But its not all smooth sailing. There are some big challenges. Rules about cryptocurrencies are still uncertain, which makes it hard for investors to feel safe. Plus, there are worries about security, like hackers stealing digital coins. These challenges can make investing in cryptocurrencies risky.

Rules about cryptocurrencies vary from country to country in the Eurozone. Some places have clear rules, while others are still figuring things out. Clear rules could make people feel more confident about investing in cryptocurrencies.

Despite the challenges, the future looks bright. Big companies are starting to get interested in cryptocurrencies, and technology keeps getting better. This could mean more chances for everyone who wants to get involved.

1. What is margin trading, and how does it impact cryptocurrency markets?

Margin trading lets you borrow money to invest in cryptocurrencies, which can help you make more money, but it also means you could lose more if things go wrong.

2. What are some key factors driving capital inflows into Eurozone cryptocurrency markets?

Clearer rules, changing economies, and more interest in digital money are bringing more money into Eurozone cryptocurrency markets.

3. What are the main challenges facing Eurozone cryptocurrency markets?

Uncertain rules, worries about security, and concerns about fair trading are some of the main challenges facing Eurozone cryptocurrency markets.

4. What are the prospects for future growth in Eurozone cryptocurrency markets?

The future looks promising, with big companies getting interested in cryptocurrencies and technology improving. This could mean more chances for people who want to invest in cryptocurrencies.

In summary, cryptocurrency trading is picking up speed in the Eurozone. Understanding the trends, challenges, and future possibilities can help investors make smart decisions in this exciting but sometimes risky market.

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Exploring Cryptocurrency Trading in the Eurozone: What's Happening and What's Next - Modern Diplomacy

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Binance Is Building ‘Robust Compliance Program,’ CEO Says – PYMNTS.com

Binances new CEO said the cryptocurrency exchange is a more mature company now.

Speaking with CNBC Tuesday (April 9),Richard Tengacknowledgedconcernsraised by theU.S. Department of Justice which fined Binance $4.3 billion last year over the companys better to ask for forgiveness than permission ethos.

In those very early stages of development Binance was operating in a certain fashion, Teng told CNBCs Arjun Kharpal at the Paris Blockchain Week crypto conference. But we have moved past that. As the company moves into greater maturity, we are looking at sustainability. The direction of travel now is very clear toward much more compliance, which is why were building up a very robust compliance program.

Binance agreed topay the finein November to settle a case brought by the federal government. Former Binance CEOChangpeng Zhaopleaded guilty to failing to establish proper money laundering controls and agreed to resign from the company. He is due to be sentenced in three weeks and could face up to 18 months inprison.

The plea deals marked the conclusion of a lengthy investigation into the worlds largest crypto exchange.

Prosecutors said that Binance under Zhao had prioritized Binances growth over compliance with U.S. law, CNBC reported.

U.S. authorities also accused Binance of permitting transactions between users in the U.S. and those in jurisdictions that were under American sanctions, per the report.

Meanwhile, Binance is contending with legal issues in other countries, such as Nigeria, where its head of financial crime compliance,Tigran Gambaryan, has been charged withtax evasionand money laundering.

Gambaryan, who is a U.S. citizen, has beendetained in Nigeriasince arriving in the country last month after the government said Binance was operating there illegally.

He was taken into custody along with another executive, Nadeem Anjarwalla, a British-Kenyan who is Binances regional manager for Africa. Anjarwallaescaped custodyand fled Nigeria in March. Binance has said Gambaryan was not responsible for any actions by the exchange, as he had no decision-making power in the company.

Both Gambaryan and Anjarwallasuedthe Nigerian government last month, accusing the countrys national security advisor, Nuhu Ribadu, and the Economic Financial Crimes Commission of violating their fundamental human rights. The executives have asked the Federal High Court to order the agencies to release them, return their passports and apologize publicly.

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Treasury Asks Congress for Stronger Crypto Sanction Powers – PYMNTS.com

The U.S. Treasury Departmentwants more tools to curb terror financing.

Deputy Secretary Adewale O. Adeyemois due to testify before the Senate Banking Committee Tuesday (April 9) and ask lawmakers for greater authority to block terrorist groups and state actors for using things like overseas cryptocurrency exchanges to fund their causes.

Our problem is that actors are increasingly finding ways to hide their identities and move resources using virtual currency, Adeyemo said intestimonyreleased ahead of the hearing.

These groups continually seek new ways to move their resources in light of the actions we are taking to cut them off from accessing the traditional financial system, he added.

Per the testimony, the last year has seen Irans Quds Force send crypto to militant groups Hamas and the Palestinian Islamic Jihad in Gaza. Adeyemo said the Treasury took action against networks that sent smallerdonations to Hamas.

The more effective our targeting has been, the more reason there is for these terrorist groups to look into virtual assets, Adeyemo said. And, to be clear, its not only terrorist groups, but state actors like theDPRK and Russiaas well.

The Treasury department wants Congress to greenlight a secondary sanctions tool aimed at overseas digital-asset providers involved in illicit finance.

While we have had some success in rooting out illicit finance in the digital asset ecosystem, we need to build an enforcement regime that is capable of preventing this activity as more terrorists, transnational criminals, and rogue states turn to digital assets, Adeymo said.

Last month, the Treasury Departments Office of Foreign Assets Control (OFAC) cited 13 Russia-linked FinTechs for allegedly using cryptocurrencyto avoid sanctions.

Russia is increasingly turning to alternative payment mechanisms to circumvent U.S. sanctions and continue to fund its war against Ukraine, Brian Nelson, under secretary of the U.S. Treasury for terrorism and financial intelligence, said at the time.

As the Kremlin seeks to leverage entities in the financial technology space, Treasury will continue to expose and disrupt the companies that seek to help sanctioned Russian financial institutions reconnect to the global financial system, he added.

Days later, Bloomberg News reported that authorities in the U.S. and Great Britain were investigating more than$20 billion in cryptocurrency transfersthat moved through an exchange based in Russia.

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