Page 2,912«..1020..2,9112,9122,9132,914..2,9202,930..»

New Evidence for Controversial Theory That the Electron Is Composed of Two Particles – SciTechDaily

Researchers at Princeton University conducted experiments on materials known as quantum spin liquids, finding evidence that the electrons in the quantum regime behave as if they are made up of two particles. Credit: Catherine Zandonella, Princeton University

Results from a Princeton-led experiment support a controversial theory that the electron is composed of two particles.

A new discovery led by Princeton University could upend our understanding of how electrons behave under extreme conditions in quantum materials. The finding provides experimental evidence that this familiar building block of matter behaves as if it is made of two particles: one particle that gives the electron its negative charge and another that supplies its magnet-like property, known as spin.

We think this is the first hard evidence of spin-charge separation, said Nai Phuan Ong, Princetons Eugene Higgins Professor of Physics and senior author on the paper published this week in the journal Nature Physics.

The experimental results fulfill a prediction made decades ago to explain one of the most mind-bending states of matter, the quantum spin liquid. In all materials, the spin of an electron can point either up or down. In the familiar magnet, all of the spins uniformly point in one direction throughout the sample when the temperature drops below a critical temperature.

However, in spin liquid materials, the spins are unable to establish a uniform pattern even when cooled very close to absolute zero. Instead, the spins are constantly changing in a tightly coordinated, entangled choreography. The result is one of the most entangled quantum states ever conceived, a state of great interest to researchers in the growing field of quantum computing.

The 3D color-plot, a composite of many experiments, shows how the thermal conductivity xx (vertical axis) varies as a function of the magnetic field B (horizontal axis) and the temperature T (axis into the page). The oscillations provide evidence for spinons. Credit: Peter Czajka, Princeton University

To describe this behavior mathematically, Nobel prize-winning Princeton physicist Philip Anderson (1923-2020), who first predicted the existence of spin liquids in 1973, proposed an explanation: in the quantum regime an electron may be regarded as composed of two particles, one bearing the electrons negative charge and the other containing its spin. Anderson called the spin-containing particle a spinon.

In this new study, the team searched for signs of the spinon in a spin liquid composed of ruthenium and chlorine atoms. At temperatures a fraction of a Kelvin above absolute zero (or roughly -452 degrees Fahrenheit) and in the presence of a high magnetic field, ruthenium chloride crystals enter the spin liquid state.

Graduate student Peter Czajka and Tong Gao, Ph.D. 2020, connected three highly sensitive thermometers to the crystal sitting in a bath maintained at temperatures close to absolute zero degrees Kelvin. They then applied the magnetic field and a small amount of heat to one crystal edge to measure its thermal conductivity, a quantity that expresses how well it conducts a heat current. If spinons were present, they should appear as an oscillating pattern in a graph of the thermal conductivity versus magnetic field.

The oscillating signal they were searching for was tiny just a few hundredths of a degree change so the measurements demanded an extraordinarily precise control of the sample temperature as well as careful calibrations of the thermometers in the strong magnetic field.

The team used the purest crystals available, ones grown at the U.S. Department of Energys Oak Ridge National Laboratory (ORNL) under the leadership of David Mandrus, materials science professor at the University of Tennessee-Knoxville, and Stephen Nagler, corporate research fellow in ORNLs Neutron Scattering Division. The ORNL team has extensively studied the quantum spin liquid properties of ruthenium chloride.

In a series of experiments conducted over nearly three years, Czajka and Gao detected temperature oscillations consistent with spinons with increasingly higher resolution, providing evidence that the electron is composed of two particles consistent with Andersons prediction.

People have been searching for this signature for four decades, Ong said, If this finding and the spinon interpretation are validated, it would significantly advance the field of quantum spin liquids.

Czajka and Gao spent last summer confirming the experiments while under COVID restrictions that required them to wear masks and maintain social distancing.

From the purely experimental side, Czajka said, it was exciting to see results that in effect break the rules that you learn in elementary physics classes.

Reference: Oscillations of the thermal conductivity in the spin-liquid state of -RuCl3 by Peter Czajka, Tong Gao, Max Hirschberger, Paula Lampen-Kelley, Arnab Banerjee, Jiaqiang Yan, David G. Mandrus, Stephen E. Nagler and N. P. Ong, 13 May 2021, Nature Physics.DOI: 10.1038/s41567-021-01243-x

The experiments were performed in collaboration with Max Hirschberger, Ph.D. 2017 now at the University of Tokyo, Arnab Banerjee at Purdue University and ORNL, David Mandrus and Paula Lempen-Kelley at the University of Tennessee-Knoxville and ORNL, and Jiaqiang Yan and Stephen E. Nagler at ORNL. Funding at Princeton was provided by the Gordon and Betty Moore Foundation, the U.S. Department of Energy and the National Science Foundation. The Gordon and Betty Moore Foundation also supported the crystal growth program at the University of Tennessee.

Read the original:
New Evidence for Controversial Theory That the Electron Is Composed of Two Particles - SciTechDaily

Read More..

IBM Think 2021 kicks off with AI innovations and some interesting quantum news – The Next Web

IBM today kicked off its annual THINK conference with a hefty dose of AI news and some tantalizing tidbits about the companys current quantum computing endeavors.

Weve got the skinny, but theres a lot to get through so strap in and get comfy.

AutoSQL and Cloud Pak for Data: IBMs touting a breakthrough in cloud-based database management. Basically, where businesses serve up answers to customer queries using cloud-managed AI databases, this will significantly speed things up.

According to IBM, the new system gives answers to distributed queries as much as 8x faster than previously and at nearly half the cost of other compared data warehouses.

Per an IBM press release:

With the launch of AutoSQL, IBM Cloud Pak for Data now includes the highest-performing cloud data warehouse on the market (based on our benchmarking study) that can run seamlessly across any hybrid multi-cloud environment including private clouds, on-premises and any public cloud.

Quick take: Its tempting to call this a bit hyperbolic, but IBMs brought receipts in the form of internal benchmarking. Anything that speeds up customer-facing AI is a boon for businesses and the people who use their products. Get more info here.

Watson Orchestrate: The no code AI paradigm is picking up steam and this is a great example of how that can be useful. Orchestrate is an AI system designed to augment workflows for individuals.

According to IBM, its meant to be interactive and easy to use:

Requiring no IT skills to use, Watson Orchestrate enables professionals to initiate work in a very human way, using collaboration tools such as Slack and email in natural language. It also connects to popular business applications like Salesforce, SAP and Workday.

Quick take: I hate virtual assistants because theyre virtually useless. But this is integrated, not an externaltalking bot, so it looks like something that could legitimately accelerate workflows for people who tend to have a lot going on. Theres more info available here on IBMs website.

Maximo Mobile: IBM recently launched this new mobile asset management platform for workers tied to infrastructure-scale jobs such as electric company employees or maintenance crews who work on bridges and roads.

Quick take: Ever wonder why it takes so long for the power to come back on after something goes wrong? According to that video, when it comes to the people who maintain large assets, fix our powerlines, and operate refineries, as much as 15-20% of a technicians time can be spent on paperwork.

Thats ridiculous!

Maximo Mobile is IBMs solution to the data and asset management issues these large-scale operations face in the field.

Mono2Micro: A common problem for businesses is figuring out how to get legacy applications into new-fangled AI systems.

Per IBM:

Mono2Micro uses AI developed by IBM Research to analyze large enterprise applications and provide recommendations on how to best adapt them for the move to cloud.

Quick take: This is simple, but brilliant. Basically, when it comes to integrating legacy AI applications into hybrid-cloud environments, the only option used to be manually changing the code. Now, with Mono2Micro, that process can be automated. This could make it more cost-effective to port your old apps than it is to build something new from the ground up. Check out more info here.

IBM also announced several new initiatives and more information on its $1 billion investment in its partner ecosystem, but most of these announcements were news wed heard before.

[Read:3 new technologies ecommerce brands can use to connect better with customers]

Where things got real interesting is when IBM announced a new quantum computing breakthrough.

Qiskit software boosts: IBM today announced a 120X increase in quantum circuit processing speed thanks to IBMs hyrbid-cloud solution.

Instead of storing data on the physical quantum computer and thus necessitating more complex architecture and power requirements IBMs keeping things hybrid by enabling high-speed cloud-based data transfer via its Qiskit runtime.

Per IBM:

By introducing Qiskit Runtime, IBM is enabling quantum systems to run complex calculations such as chemical modeling and financial risk analysis in hours, instead of several weeks. To show the power of the software, IBM recently demonstrated how the lithium hydride molecule (LiH) could be modeled on a quantum device in nine hours, when previously it took 45 days.

Quick take: If were ever going to have a useful quantum computer, we need to scale the experimental builds were currently working with. IBMs new Quiskit Runtime service offloads a portion of the process to the cloud so the quantum part of the computer can do what it does unfettered.

Itll be a while before we see exactly what this means, but its reason for optimism in a field that already looks pretty bright. You can learn more here.

Greetings Humanoids! Did you know we have a newsletter all about AI? You can subscribe to itright here.

Go here to see the original:
IBM Think 2021 kicks off with AI innovations and some interesting quantum news - The Next Web

Read More..

IBM Think 2021- All In On Hybrid Cloud And AI – Forbes

IBM CEO Arvind Krishna

IBM is in the middle of a company transformation. With CEO Arvind Krishna and President Jim Whitehurst at the helm for a year, the company is going all-in on the cloud with its Red Hat and other investments and getting in a better posture for growth and focus with its recent Kyndryl spin-out. At the same time, the company continues to create leading edge research output in hardware, software and the cloud and creating some very innovative products simultaneously.

IBM made many announcements prior to THINK. The company announced the worlds first 2nm nanosheet device here, check out an interview I had with IBM Cloud leader Howard Boville here, see Z mainframe as a service here, check out Steve McDowells analysis of Spectrum Fusion here, and see Paul Smith Goodsons coverage of Qiskit Metal for quantum computing here.

This week, I attended the IBM Think 2021 event which is the premier hybrid cloud and AI event for IBM as well as the companys annual flagship event for customers and partners. Last year, the Think event had almost 120,000 people attend the event from all over the globe for the second year in a row, the event has gone virtual with some on-demand options. Think consisted of three different times or airings so that the globe can experience the event in different time zones. IBM made several key announcements here and lets take a closer look at what CEO Arvind Krishna had to say in his keynote.

CEO Arvind Krishna sets the stage

The annual THINK conference kicked off with some great news and announcements on hybrid cloud, AI, and quantum computing. First, Arvind Krishna, IBM Chairman and CEO, kicked off his keynote talking about how the pandemic has caused a great deal of disruption but that, in turn, digital transformation accelerated. Arvind stated, everywhere you look, the forces of digital technology are turning our economies on its head. As the world recovers, there is no going back. Well reflect on this past year as the moment when the world entered the digital century in full force. While I have heard many other tech CEOs talk about this on-stage, you need to realize that with IBM at the heart of most of banking, healthcare, transportation, and retail industries, they will have seen a unique view.

With digital transformation in full force, collaboration, security, and modernization are more critical than ever. I believe IBM is all in for hybrid cloud and AI in its mission to modernize systems and businesses. These innovations show IBM's goal of helping its customers and partners accelerate its digital transformation, automate time-consuming work, and make collaboration easier. According to a report developed by IBM last year, 43% of IT professionals say its company has accelerated its rollout of AI, and half are evaluating.

Arvind introduced many guests on stage to share some significant partnerships with Siemens, CVS Health, and Salesforce. President and COO of Salesforce, Bret Taylor, touted that a few big things are to come out of this year of disruption: real urgency and speed, breaking down silos, and the importance of creating a single unified experience. The great partnership examples from the keynote show the importance of modernizing technology in a digital transformation era.Karen Lynch, President and CEO of CVS Health, tells how hybrid cloud and AI have impacted the future of healthcare - technology will be the backbone of how consumers interface with the healthcare system, the health care system will change dramatically. And I think the partnership that we have, we will be the leader.

I appreciated the increased depth of conversations Arvind had with his clients as these are many times just content-less CEO fly-bys. It would have been even better had a few more products been name-dropped. I get that this is a CEO to CEO/President conversations, but IBM needs people to love its products, too.

Product Announcements

IBM made five key announcements.

IBM announced a breakthrough capability in Cloud Pak for data that uses AI to get answers to queries 8x faster and at half the cost of competitors (IBM). AutoSQL integration can help eliminate the high cost of moving data while using AI-driven predictions. This new tool should help with the automation of data and run across any hybrid multi-cloud environment. IBM describes AutoSQL as a universal query engine and many have described it as IBMs take on the data lake which means that data may reside in Cloud Pak for Datas own data lake.

IBM also announced Watson Orchestrate, a new AI capability. According to the IBM newsroom and pre-briefs, Watson Orchestrate uses AI to improve and maintain context-based off on prior interactions. IBM developed this tool to help business professionals with productivity in its work environments working to solve a big pain point that arose for business owners amidst the pandemic. Watson Orchestrate claims to help professionals reclaim 50% of its time to focus on strategic work. The tool uses AI to sequence the prepackaged skills that are needed to perform a task for sales, HR, or operational functions. It is compatible with Slack Technologies, Salesforce, SAP SE, and Workday. Watson Orchestrate also allows regular professionals to have access to big pools of data that many companies have.

IBM announced the launch of Maximo Mobile, a mobile asset management solution that is a part of the IBM Maximo Application Suite for intelligent mobile EAMIBM developed this solution to aid field technicians and equip them with an AI tool to solve complex problems in remote locations. Maximo Mobile allows the customer to keep track of their assets regardless of location or network connectivity. IBM has been helping companies move sustainability forward by providing technicians with more sustainable maintenance. Maximo completely changes the way that field technicians work by equipping them with the best information and knowledge to solve problems more efficiently. IBM gives a great real life technician example on their website, often, when major assets break down, a technician must travel back and forth to the site to research solutions and analyze data before making any repairs. Slowing them down even more many of the assets that they help maintain are also located in places that are difficult to reach and potentially dangerous, like gas or electrical transmission lines, offshore wind turbines or scaffolding on buildings and bridges (IBM). Maximo mobile allows the technician to access a more powerful solution, including the ability to remotely collaborate with experts and diagnose problems and identify the likeliest fixes.

Fourth, IBM announced a preview of Project Codenet, a largescale opensource dataset comprised of 14 million code samples, 500 million lines of code and 55 programming languages to help with AIs understand of translating code (IBM). Codenet focuses on solving problems of code translation, similarity, and constraints. According to astudy from the University of Cambridges Judge Business School, programmers spend 50.1% of their work time not programming; half of the rest of their time is spent debugging. And the total estimated cost of debugging is $312 billion per year per Venture Beat. This AI code suggestion helps to cut development costs while allowing them to focus on more creative tasks.

Lastly, IBM announced a new quantum computing breakthrough. Qiskit Runtime Software Boosts have a 120X increase in quantum circuit processing speed that works with IBMs hybrid cloud solutions (IBM). This software allows customers to run complicated calculations and modeling in a matter of hours vs. weeks. If you want to learn more, one of my analysts, Paul Smith-Goodson, wrote a great article on IBM's descriptive quantum roadmap here.

IBM made many announcements prior to THINK. The company announced the worlds first 2nm nanosheet device here, check out an interview I had with IBM Cloud leader Howard Boville here, see Z mainframe as a service here, check out Steve McDowells analysis of Spectrum Fusion here, and see Paul Smith Goodsons coverage of Qiskit Metal for quantum computing here.

Wrapping up

In summary, IBM made clear that it is all in on the hybrid cloud and enterprise AI. It made some significant new announcements that give an optimistic outlook on a year that has not been so. Many of IBM's product announcements have many commonalities in the problems that it aims to solve. Cloud Pak, Watson Orchestrate, Maximo Mobile, CodeNet, and Qiskit Runtime Software boost all work to streamline processes, aid productivity, cut costs, and modernize the business. All in all I am enthusiastically optimistic to see how these products play out in the next few months. IBM appears to be transforming in front of my eyes and its exciting.

Note: Moor Insights & Strategy writers and editors may have contributed to this article.

Moor Insights & Strategy, like all research and analyst firms, provides or has provided paid research, analysis, advising, or consulting to many high-tech companies in the industry, including 8x8, Advanced Micro Devices, Amazon, Applied Micro, ARM, Aruba Networks, AT&T, AWS, A-10 Strategies,Bitfusion, Blaize, Box, Broadcom, Calix, Cisco Systems, Clear Software, Cloudera,Clumio, Cognitive Systems, CompuCom, Dell, Dell EMC, Dell Technologies, Diablo Technologies, Digital Optics,Dreamchain, Echelon, Ericsson, Extreme Networks, Flex, Foxconn, Frame (now VMware), Fujitsu, Gen Z Consortium, Glue Networks, GlobalFoundries, Google (Nest-Revolve), Google Cloud, HP Inc., Hewlett Packard Enterprise, Honeywell, Huawei Technologies, IBM, Ion VR,Inseego, Infosys, Intel, Interdigital, Jabil Circuit, Konica Minolta, Lattice Semiconductor, Lenovo, Linux Foundation,MapBox, Marvell,Mavenir, Marseille Inc, Mayfair Equity, Meraki (Cisco),Mesophere, Microsoft, Mojo Networks, National Instruments, NetApp, Nightwatch, NOKIA (Alcatel-Lucent), Nortek,Novumind, NVIDIA, Nuvia, ON Semiconductor, ONUG, OpenStack Foundation, Oracle, Poly, Panasas,Peraso, Pexip, Pixelworks, Plume Design, Poly,Portworx, Pure Storage, Qualcomm, Rackspace, Rambus,RayvoltE-Bikes, Red Hat,Residio, Samsung Electronics, SAP, SAS, Scale Computing, Schneider Electric, Silver Peak, SONY,Springpath, Spirent, Splunk, Sprint, Stratus Technologies, Symantec, Synaptics, Syniverse, Synopsys, Tanium, TE Connectivity,TensTorrent,TobiiTechnology, T-Mobile, Twitter, Unity Technologies, UiPath, Verizon Communications,Vidyo, VMware, Wave Computing,Wellsmith, Xilinx, Zebra,Zededa, and Zoho which may be cited in blogs and research.

Read the original post:
IBM Think 2021- All In On Hybrid Cloud And AI - Forbes

Read More..

Altcoin Season’s Outer Limits: Ether Outpacing Bitcoin Further Than in 2017 – CoinDesk – CoinDesk

Cryptocurrency markets tend to vacillate between bitcoin-led regimes and altcoin-led regimes. In this view of the category, bitcoin is the original currency and everything else, including ethereum, is an alternative, based on the same principles but with tweaks or additions.

The altcoin-led regimes are called alt seasons. Ethers rapid rise since the start of the year (it passed $4,000 over the weekend) has put 2021 so far firmly into alt season, following a the fourth quarter of last year that was led by bitcoin. Timing shifts in momentum between cycles such as these is important for investors seeking to maximize their returns in a crypto bull market.

The chart above looks at bitcoin vs. ether returns across bull and bear market regimes. Bitcoin is still the benchmark for all cryptocurrencies (for now anyway), and so we use its price to define the start and end of bull and bear markets.

The methodology is simple: A shift into a bull or bear market is defined as a bitcoin price change of 20% or greater, followed by at least 90 days during which the price does not return to its level before the change. It gives us a way to definitively, with a little patience, say what the market regime of bitcoin is and by extension the entire cryptocurrency category. Methodologies like this are in line with the kind of work were doing at CoinDesk Indexes.

As you can see from the chart, as of May 2, the current cycle wasnt out of line with past patterns. It still isnt. ETH at $4,000 puts returns for ETH at around 340% since its mid-March 2020 bottom. Thats still within the pattern for an alt-season bull market, set in 2017. But at $4,000 ETH and $55,000 BTC, the gap between ether and bitcoin puts 2021 crypto markets at the edge of any altcoin season precedent. (To get insights like this in your inbox every Monday, sign up for CoinDesk Indexes weekly newsletter, The Hard Fork.)

One problem with this chart is its measuring ether returns over bitcoin market cycles. Thats fine for now, because ether may be gaining, but bitcoin is still the benchmark. But if the alt-season gap between ether and bitcoin widens further, were likely to begin to see an erosion of bitcoins viability as a market benchmark.

A more fundamental trend is the change in bitcoin dominance, which weve noted before. Bitcoin dominance is the ratio of bitcoins market cap to the sum market cap of all cryptocurrencies. Ethers moves this week have pushed it below 45%, testing lows set in 2018.

The long-term decline in bitcoin dominance is a one-step-forward, two-steps-back kind of dance across bull and bear markets: In bear markets, a flight out of altcoins into the relative safety of bitcoin; in bull markets, an embrace of added risk that swells the altcoin share of the market.

If the trend continues, eventually well be looking for broader data sources as benchmarks for the market the CoinDesk Digital Large Cap Index, for example. That would push crypto more in line with equity markets. Consider that if Apple, the largest stock in the S&P 500 Index, were as dominant as bitcoin, it would be a $16 trillion company.

Read more from the original source:
Altcoin Season's Outer Limits: Ether Outpacing Bitcoin Further Than in 2017 - CoinDesk - CoinDesk

Read More..

South Korean Banking Association Concerned Over Surge of the Altcoin Trading Frenzy Altcoins Bitcoin News – Bitcoin News

A banking association in South Korea recently added weight to regulatory discussions across the country, raising concerns about the high altcoin trading volume. The Korea Federation of Banks (KFB) requested its members to audit trading volumes through their crypto exchanges customers altcoin activity.

According to The Korea Herald, the KFB is concerned about potential risks that South Korean banks could be exposed in front of high altcoin trading volumes, as they offer their services to domestic virtual currency exchanges.

The warning comes in the wake of a significant surge of the transaction volumes to around 95% in altcoins, said the media outlet.

An official from the Korea Federation of Banks commented on the matter:

One of the criteria that we recommend is the safety of digital assets, and that can be measured by the number of digital coins on an exchange. If an exchange deals with too many digital assets, it takes on more risks.

During 24 hours last Saturday, bitcoin (BTC) volume levels were only 4.26% on the domestic exchange Upbit.

That said, the banking association asks local banks to strengthen existing rules on overseeing suspicious transactions through the cryptocurrency exchanges and report them, according to the revised Act on Reporting and Using Specified Financial Transaction Information.

Overall, the plethora of crypto regulation news in South Korea keeps making the headlines, as the ruling mentioned above is underway.

In fact, the chairman of South Koreas top financial regulator, the Financial Services Commission (FSC), Eun Sung-soo, recently warned that all of the digital asset exchanges in the country could be shut down. But his harsh rhetoric on the industry has not been well received among the domestic crypto community.

As Bitcoin.com News reported on April 28, 2021, South Koreas presidential website is now being filed with thousands of petitions from furious people aged 20-39, seeking Euns resignation.

As of press time, South Korea has about 200 virtual currency exchanges.

What do you think about the warning issued by the South Korean banking association? Let us know in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

More here:
South Korean Banking Association Concerned Over Surge of the Altcoin Trading Frenzy Altcoins Bitcoin News - Bitcoin News

Read More..

EOS and YFI lead altcoins higher as Bitcoin and Ether bounce from swing lows – Cointelegraph

The markets were mixed on May 11 as Bitcoin (BTC) recovered from Monday's drop to $53,000 by bouncing to $56,862 but the digital asset is still finding resistance at the $57,000 level.

Ether (ETH) also worked its way back above $4,100 but according to Cointelegraph analyst Marcel Pechman, the bullish sentiment for Etherseen in recent weeks has begun to fadeas traders question whether new all-time highs will be sustainable in the short term.

Data from Cointelegraph Markets and TradingView shows that Bitcoin bulls defended a late-night sell-off on May 10 that briefly dropped the price of BTC below $54,000 before dip buyers gobbled up sell orders and lifted the price back above $56,000.

blue-chipWhile the blue chip cryptocurrencies have been stuck in a sideways market, canine-themed meme coins including Shiba Inu (SHIB) and Dogelon Mars (ELON) have followed Dogecoins (DOGE) lead and seen their prices explode for triple-digit gains.

Bitcoins range-bound trading between $50,000 and $60,000 in recent weeks can partially be attributed to the rising price of Ether, which has caught the attention of institutional investors looking for exposure to more than just BTC. The growing demand for Ether can clearly be seen in the price action of the ETH/BTC pair.

According to David Lifchitz, managing partner and chief investment officer at ExoAlpha, Ether's recent all-time high was in part due to a continued rotation away from Bitcoin which helped push the price of Ether as high as $4,214 before suddenly puking down to $3,658 (-13% in an hour).

The downturn in the crypto market coincided with a selloff in the U.S. equity markets that hit the tech-heavy NASDAQ index especially hard. Lifchitz noted that Bitcoin and the other cryptocurrencies were eventually able to bounce back half of the loss from the high.

While the sell-off could be explained by some correlation trades leading to a quick profit-taking in cryptos, Lifchitz also pointed to the possibility of a more organized selloff where some traders took advantage of frothy market conditions.

Lifchitz said:

Lifchitz highlighted that just:

Further insight into the market moves over the past week was offered by Ben Lilly, co-founder and analyst at Jarvis Labs, who highlighted an increase in on-chain profit taking over the last week that had lots of capital turning over throughout altcoins.

Lilly said:

The overall altcoin market shook off the bearish moves seen in the larger-cap cryptocurrencies. EOS led the day with a 50% jump which took the price to $13.92 after Block.one announced that it had secured $10 billion in funding to launch an EOS-based cryptocurrency exchange named Bullish Global.

Yearn.finance (YFI) managed to break out of the trading range it had been stuck in to put on a 58% rally to a new record high above $80,000, while the price of Revain (REV) exploded 130% to reach a multi-year high at $0.049.

The overall cryptocurrency market cap now stands at $2.474 trillion and Bitcoins dominance rate is 42.8%.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Read the original here:
EOS and YFI lead altcoins higher as Bitcoin and Ether bounce from swing lows - Cointelegraph

Read More..

South Korea’s banking association alarmed by altcoin trading mania – Cointelegraph

The Korea Federation of Banks has raised alarm over the increase in altcoin trading volumes across crypto exchanges in the country.

According to a report by The Korea Herald on Monday, the banking association has asked member banks to conduct an audit on the altcoins being offered by their crypto exchange clients.

The KFB is reportedly concerned about the potential risks of banks providing account services to exchanges overexposed to altcoins.

An official of the banking association quoted by The Korea Herald explained:

As previously reported by Cointelegraph, there has been a noticeable pivot by crypto traders in South Korea toward altcoins. This shift coincided with a corresponding dip in Bitcoin (BTC) trading activity that had characterized the earlier part of the year, even leading to the collapse of the Kimchi premium.

Three of South Koreas Big Four crypto exchanges Upbit, Coinone and Bithumb each list over 150 altcoins on their platforms. The KFBs recommendation comes as BTC trading on these exchanges accounted for less than 5%, far lower than the average across other major exchanges like Coinbase and Binance.

Indeed, as of the time of writing, only Coinone has Bitcoin trading activity occupying the top two positions in the last 24-hour period. Data from CoinMarketCap shows BTC trading on Upbit and Bithumb at 4.15% and 9.13%, respectively.

Under South Koreas real-name crypto trading paradigm, the onus is on banks to maintain strict oversight over their cryptocurrency exchange clients, hence the reason for the KFBs warning. The banking association also wants its members to be aware of the potential money laundering risks that could be associated with the current altcoin trading explosion.

South Koreas altcoin trading surge is yet another piece of evidence in support of the alt season market cycle narrative. Indeed, Bitcoin's market capitalization dominance continues to decline and is now at its lowest level since July 2018.

Several major altcoins have set new all-time highs, with Ether (ETH) breaking the $4,000 milestone to deliver over 450% in year-to-date gains.

Go here to read the rest:
South Korea's banking association alarmed by altcoin trading mania - Cointelegraph

Read More..

Another Meme Token Gains Traction in Altcoin Underground – BeInCrypto

Another meme token, but this time run by duo Lawrence Heaslip and Jacques Dutel, is beginning to make waves in the altcoin underground and is even stirring up some media attention in the heart of Silicon Valley.

The token was created with the intention of creating a fun, humorous community, where the market could not be manipulated by whales or rug pulls, all the while creating memes out of the founders faces.

At the time of writing the token has a 1M market cap and the duo says they have big plans moving forward and little time to get everything organized by the major push from the already rapidly growing community of What Do You Meme Token.

When visiting their website, you can find that their company is a registered limited liability company with the secretary of state of Mississippi.

They did say they are working quickly to release the new NFT platform with a forum board integration. This will allow users to buy and sell NFT memes and allow for a rewarding system into a sister token named BlackPapers.

While a lot of the meme tokens have no utility, the duo says they plan to implement a full-use case behind the token. This will revolutionize the meme token community along with the sister token BlackPapers, which will vet and license new meme tokens. Check out the latest YouTube video posted by the team.

DisclaimerAll the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

See the rest here:
Another Meme Token Gains Traction in Altcoin Underground - BeInCrypto

Read More..

Analyst on Cardano: if an altcoin cant do this theres no point in holding it – AMBCrypto News

One of the most trending altcoins, Cardanos recent demand surge has been well documented. For a coin that was silent during the previous year, it made strides on the price charts this year.

TA expert and analyst Benjamin Cowen recently appeared in a youtube interview to talk about this altcoins bullish narrative.

Cardanos ADA has been touted as the Ethereum killer but Benjamin Cowen portrayed the alt as a hedge against ETH instead. He spoke about what would drive traders to invest in alts. He stated:

If an altcoin cant outperform Bitcoin, then theres no point in holding it. Can ADA outperform it ADA outperforms Bitcoin in a bull market.

An unusual extreme optimism one would say considering ADAs present consolidation phase. However, looking at a broader frame, the coin was up over 3,000% in the last 12 months.

The seventh-largest coin was bound for more upswing according to the analyst, as he stated that the alt may even be skyrocketing to another 500% incline from its current price of $1.73. He added:

I think in the grand scheme of the market cycle, I think its going to go much higher than where it currently is. If I had to throw a ballpark number out there, I would say somewhere between like $5 to $10 is my guess.

He further conceded:

If Im wrong because it goes higher than $10, thats something I dont mind being wrong about.

Based on a prediction model from digitalcoin, the charts below indicate the growth potential thats in store for Cardano.

Cowen, however, was quick to warn about the possibilities of some very steep and harsh withdrawals throughout ADAs climb. He stated

I can also tell you too that if we go there, its going to be one crazy journey and were not going to go straight to those levels. Were probably going to have some major pullbacks along the way and the way we look at that is noting Ethereum had some pretty major pullbacks last cycle as well. I think it can go those levels, but its certainly not going to be an easy ride.

Sign Up For Our Newsletter

See the original post here:
Analyst on Cardano: if an altcoin cant do this theres no point in holding it - AMBCrypto News

Read More..

What is SafeMoon? Price, where to buy, news and more – Tom’s Guide

SafeMoon is one of the newest and fastest-growing cryptocurrencies, even in a market thats recently seen Bitcoin and Ethereum reach record-high values and even the tongue-in cheek Dogecoin growing by over 11,000%.

Even so, SafeMoon is a most unusual digital currency, as it imposes a penalty on anyone who tries to trade their coins (or tokens). Only a few weeks old, its sheer newness also might lead some potential crypto buyers to see it as an unknown quantity. So, heres everything you need to know about SafeMoon, and how you can buy the fledgling currency for yourself.

Editor's Note:This article does not constitute investment advice and you should remember that buying cryptocurrency, like any investment, involves risk. We'd suggest you never spend more than you can afford to lose.

SafeMoon is an altcoin: a blockchain-based digital currency broadly similar to Bitcoin, but with some clear distinctions as well. It launched in March 2021 and has already racked up over 1 million users.

SafeMoons unique feature is that it charges a 10% fee to anyone who sells their tokens; 5% of this fee is then redistributed to all other SafeMoon owners, essentially rewarding those who hang onto their tokens and disincentivizing selling.

One criticism of cryptocurrencies like Bitcoin is how theyve strayed from their original goal of providing a working, decentralized currency to simply become investable commodities; its not clear what, if anything, youll actually be able to buy with SafeMoon, but the selling fee is at least encouraging owners not to just buy and sell their tokens for now.

SafeMoon could also be seen as a more serious take on Dogecoin, the tongue-in-cheek altcoin with an unofficial rallying cry of To the moon SafeMoons slogan is Safely to the Moon.

Like Dogecoin, SafeMoon is worth a lot less than Bitcoin or Ethereum per-unit, but has been climbing in value. Coin Market Cap currently has each token at $0.00001, down on its peak of $0.000014 in late April, but a sharp increase from its $0.0000000010 launch value.

That's not enough for it to make it into the list of top cryptocurrency performers by market cap, but its already attracting attention from potential investors looking to get involved while SafeMoon is still cheap despite the selling fee.

And remember, most cryptocurrencies started off small. Dogecoin wasn't worth much more than that until the start of this year, but has since climbed by more than 10,000% to reach around $0.50 per coin.

Cryptocurrencies are often highly volatile, and on current evidence SafeMoon doesnt look to be much different: even as its value grows its still prone to big slides, one of which already occurred in April.

While thats par for the course with a lot of investments, SafeMoon has also been compared to a Ponzi scheme, as any profits you could make in future are based on someone paying more for the tokens than you did further down the line. The selling fee and redistribution model could also be said to encourage early adopters, who would then gain the most from subsequent sales.

Cryptocurrency investor and influencer Lark Davis warned against SafeMoon on Twitter, saying, Remember just because you make money off of a Ponzi does not change the fact that it is a Ponzi. Davis also compared SafeMoon to BitConnect, a cryptocurrency that shut down in 2018 after two U.S. state-level securities regulators publicly warned investors of its similarities to a Ponzi scheme.

WarOnRugs, an anti-scamming collective focused on cryptocurrency, has also criticised SafeMoons owners for locking away more than 50% of its own liquidity pool. The group claims this could result in a rug pull, a form of exit scam whereby liquidity is intentionally drained from a market, leaving traders unable to sell. SafeMoon CEO John Karony maintains that liquidity is held to make the currency more secure.

If youre willing to take the risk, then you can buy SafeMoon from one of four crypto exchanges: PancakeSwap, BitMart, WhiteBit and Bakery Swap. Its a more complex process than simply buying a currency like Bitcoin, though: you basically need to buy BinanceCoin, another cryptocurrency, then swap it for SafeMoon.

To use PancakeSwap, for instance, you first need to download the Trust Wallet app, then buy BinanceCoins (either BNB or BSC) and add them to the wallet. You then visit PancakeSwap through the Trust Wallet app, find the SafeMoon page and swap your Binance there.

A dedicated SafeMoon wallet is in the works, so hopefully this will simplify the process. Just remember that using cryptocurrencies as investments is risky at the best of times, and in the end its your own money on the line.

Today's best RTX 3060 Ti deals

View post:
What is SafeMoon? Price, where to buy, news and more - Tom's Guide

Read More..