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Oracle to Invest Over $1 Billion in AI and Cloud Computing in Spain – Blockchain News

June 26, 2024 | Author: admin

Oracle has announced plans to invest more than $1 billion to establish a third cloud region in Madrid, Spain. This major investment aims to bolster AI skills development and provide enhanced cloud services to various industries, including the financial sector, according to Oracle.

The new public cloud region is expected to help Oracle customers and partners across all sectors in Spain migrate mission-critical workloads to Oracle Cloud Infrastructure (OCI). This migration will support compliance with regulations such as the Digital Operational Resilience Act (DORA) and the European Outsourcing Guidelines. Telefnica Espaa will serve as the host partner for this new cloud region.

Spanish government officials have welcomed Oracles investment. Jos Luis Escriv, Spains minister for digital transformation and public administration, stated, The opening of the third Oracle cloud region in Spain is excellent news for our country. The investment announced by Oracle provides a significant boost that will help Spanish enterprises and public sector organizations innovate with AI and continue advancing on the path of digital transformation.

Oracles upcoming cloud region in Madrid will enable organizations to modernize applications, innovate with data analytics, and leverage AI technologies. Oracle provides a comprehensive suite of over 100 cloud services, including Oracle Autonomous Database, MySQL HeatWave Database Service, Oracle Container Engine for Kubernetes, Oracle Cloud VMware Solution, OCI Generative AI service, and OCI AI Infrastructure.

Spanish enterprises and public sector organizations are rapidly embracing the cloud to gain access to the latest digital technologies such as AI, and the upcoming public cloud in Madrid will help them address data residency requirements as well as regulations in key sectors such as financial services, said Albert Triola, country leader, Oracle Spain. He added, With our plans to invest an additional $1 billion in Spain over the next 10 years, we are reaffirming our commitment to helping Spanish organizations of all sizes and industries accelerate their adoption of cloud technologies to boost business performance and resilience.

The new Madrid cloud region will provide customers and partners with low-latency access to cloud services, enhancing their ability to derive value from data. This includes high availability and disaster recovery capabilities, which are crucial for business continuity and compliance with EU data residency regulations.

Financial services organizations, in particular, will benefit from Oracles cloud capabilities. Oracle has developed specific practices to help these organizations meet regulatory requirements, such as DORA. The company has also created advisory guidelines to assist clients in evaluating OCI in the context of their regulatory needs.

OCIs architecture allows Oracle to deploy dedicated cloud regions with hyperscale services within customer data centers, enabling rapid expansion of public cloud regions as needed. This ensures consistent performance, service-level agreements (SLAs), and global pricing.

Major Spanish organizations have expressed support for Oracles new cloud region. Sergio Snchez, operations, network, and IT director at Telefnica Espaa, commented, Our partnership with Oracle has been paying off for decades. We have a stronger position in the market, combining the best capabilities of both companies.

Enrque Rodrguez, director of technology services at Banco Sabadell, said, We rely on Oracle to migrate our critical workloads to Oracle Cloud Infrastructure while complying with local regulatory requirements. The arrival of the third Oracle Cloud Region in Spain will open significant opportunities for us in terms of utilizing new technologies such as AI across different areas of our business.

Rafael Blesa, general manager of information systems at Naturgy, noted, The upcoming arrival of Oracles third cloud region in Spain is great news as it will allow us to migrate low-latency and critical infrastructure support systems to the cloud while improving their security and resilience.

Ravin Dhalani, CIO at MASORANGE, added, We are excited about Oracles upcoming third cloud region in Spain, which will help us advance our innovation on OCI.

Oracles distributed cloud offers a range of services, including:

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Oracle to Invest Over $1 Billion in AI and Cloud Computing in Spain - Blockchain News

New & Noteworthy: Fast, Flexible and Scalable Simulation In the Cloud – Digital Engineering 24/7 News

June 26, 2024 | Author: admin

With the widespread adoption of cloud computing across industries, many organizations have an increased need for purpose-built hardware focused on high-performance computing (HPC) requirements, as well as solutions for the challenges they face when using simulation in the cloud.

Ansys has long been a leader in providing access to its simulation suite in the cloud, and with its latest announcement has made it even easier to add cloud capabilities to their simulation toolbox. With the launch of Ansys Access on Microsoft Azure cloud, customers using their own Azure subscription with existing Ansys licenses can access scalable, secure, and cost-effective HPC simulations in the cloud. By tapping into Ansys proven suite of simulation tools via Azure, engineers can improve their ability to validate on-premises workloads that have been transferred to the cloud, eliminate the effort around deploying and testing new virtual machines, and more cost effectively configure cloud-based processes.

Ansys Access on Microsoft Azure provides pre-tested, configured, and updated Ansys that are aligned to a curated set of recommended VMs and HPC infrastructure. This simplifies implementation for IT departments, giving them better control over cost while also empowering engineers to unlock the benefits of the high-performance Azure VMs.

Because Microsoft Azure is an open platform, customers can also incorporate third-party applications into these workflows.

Supported Applications (2024 R1) for Ansys Access on Microsoft Azure include:

With Ansys Access on Microsoft Azure, simulation customers have access to more efficient effective cloud simulation capabilities, including:

Increased Control: Engineers can create and store VM configurations for on-demand deployment by end users, and more easily manage access to project spaces, cloud resources, and budgets on a single platform. In addition, the Microsoft Sustainability Manager allows users to track and minimize the environmental footprint of their systems, while providing access to more compute resources.

Reduced Costs: Unplanned costs can sink a cloud initiative. With Ansys on Azure, customers can leverage any existing Ansys licensing and their own cloud agreements with Microsoft, which helps keep cloud transition costs low. Azure charges are based on your existing agreement, while a small uplift is included on the Azure invoice for using Ansys Access on Microsoft Azure.

Enhanced Simulation Speed: The preconfigured Ansys applications are easy to deploy, and customers can leverage Ansys expertise in packaging and configuring VDI and HPC clusters.

Streamlined Deployment: Customers benefit from an Ansys-approved and benchmarked deployment specification on Microsoft Azure hardware, and are able to install third-party and in-house tools for end-to-end CAD/CAE workflows.

Cloud-based simulation can help engineers overcome the compute constraints they often face when running complex simulations on the desktop or in the data center. Ansys Access on Microsoft Azure not only provides on-demand access to computing power they need to accelerate their simulation workflows, it provides a fast, flexible way to make the transition to the cloud by leveraging their existing contracts and licenses.

To learn more about Ansys Access on Microsoft Azure, visit the webpage here, and access the links below.

Book a Live Demo

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New & Noteworthy: Fast, Flexible and Scalable Simulation In the Cloud - Digital Engineering 24/7 News

Teradata Collaborates with Google Cloud on Enterprise-Scale Trusted AI Offerings – Datanami

June 26, 2024 | Author: admin

SAN DIEGO, June 25, 2024 Teradata today announced that it will offer Teradata VantageCloud Lake on Google Cloud, featuring updates that are designed to leverage the strengths of both Teradata and Google Cloud to deliver Trusted AI with the expertise, scale, and technology that enterprises require.

Key components of VantageCloud Lake the most complete cloud analytics and data platform for AI are Teradatas ClearScape Analytics and a connected ecosystem that, for the Google Cloud edition, includes seamless integrations with Google Clouds robust AI technologies, Vertex AI platform, and Gemini models. The combination is expected to offer customers a modern data platform that excels in multiple types of AI, from scaling predictive AI initiatives to powering new generative AI use cases.

Despite its promise, many AI projects never make it into production and the ones that do require extensive time and resources. In addition, when AI is deployed across the enterprise, there is a greater risk of losing control and oversight of intellectual property (IP). As a result of these challenges, many organizations face a growing barrier to deriving value from AI and need the right technology and partners to cost-effectively scale AI with security, transparency, and performance.

Companies in every industry see significant business potential in AI and need modern cloud analytics, as well as a trusted data platform, to begin to realize AIs benefit, said Hillary Ashton, Chief Product Officer at Teradata. Our collaboration with Google Cloud reflects the deep commitment both companies have to helping organizations successfully and responsibly execute their business strategies using AI. VantageCloud Lake with Google Cloud, which comes with ClearScape Analytics and seamless integration of Google Clouds AI services, is designed to allow customers to tackle challenges, seize big opportunities, and drive massive value with trusted AI.

ClearScape Analytics and Vertex AI platforms

ClearScape Analytics the most powerful engine for deploying end-to-end AI/ML pipelines and its open API integrates with Google Clouds fully-managed, unified AI development platform, Vertex AI, providing the ability to train and predict models against data in VantageCloud Lake. Together, the solutions provide the ability for customers to execute complex analytics and AI/ML on massive data sets and incorporate preferred data science tools. This enables customers to drive profitable growth from their AI/ML investments as they deploy sophisticated models into production faster and with trust.

Generative AI with ClearScape Analytics and Gemini Models

Most companies are already experimenting with how generative AI can drive value and business outcomes. Gemini models, Google Clouds unique multimodal large language model (LLM), can understand virtually any input: text, audio, images, video, and code. ClearScape Analytics open API integrates with the embedding API in Gemini models to store resulting vectors in VantageCloud Lake, providing a highly performant vector store for the LLM to join with production data in VantageCloud Lake. With this joint solution, organizations can power innovative new generative AI use cases and enrich customer experiences.

Our expanded partnership with Teradata brings the power of Google Clouds generative AI to Teradata VantageCloud Lake, empowering our joint customers to unlock new levels of innovation and efficiency, said Stephen Orban, VP, migrations, ISVs, and Marketplace at Google Cloud. By seamlessly integrating Googles cutting-edge AI technologies with Teradatas data platform, we are enabling businesses to harness the full potential of their data and drive transformative outcomes with trusted AI.

For example, the Teradata Customer Complaint Analyzer uses Gemini models to provide a richer and more comprehensive view of customer complaints. This joint solution can automatically categorize, analyze, and identify insights from text- and audio-based customer complaints more efficiently than traditional methods, which only analyze text. By analyzing call center audio recordings in addition to text, organizations can better understand customer sentiment, identify trends more accurately, and ultimately develop actionable insights that can improve customer loyalty and drive business value.

This is just one of many use cases that Teradata and Google Cloud support and represents a common need that is an easy starting point for many organizations to build generative AI into their business applications.

VantageCloud Lake on Google Cloud

Underpinning all of this innovation is the extension of Teradatas cloud-native VantageCloud Lake solution to Google Cloud. With this new offering, organizations can deliver trusted data thats seamlessly integrated and harmonized across an organization. This provides a reliable, well-governed, and cost-effective foundation to minimize data prep time and accelerate time-to-value for AI initiatives at scale.

Availability

Teradata VantageCloud Lake on Google Cloud is now generally available. ClearScape Analytics integration with Vertex AI platform is now generally available, and the solutions enhancements with Gemini models will be available for private preview in the first half of 2025.

About Teradata

Teradata believes that people thrive when empowered with trusted information. We offer the most complete cloud analytics and data platform for AI. By delivering harmonized data and trusted AI, we enable more confident decision-making, unlock faster innovation, and drive the impactful business results organizations need most.

Source: Teradata

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Teradata Collaborates with Google Cloud on Enterprise-Scale Trusted AI Offerings - Datanami

Integrated cloud and AI: Accelerating digital transformations – SiliconANGLE News

June 26, 2024 | Author: admin

With the combined forces of cloud computing and artificial intelligence revolutionizing digital transformations, tech giants such as Microsoft Corp. and Hewlett Packard Enterprise Co. are now focusing on integrated cloud and AI solutions to enhance enterprise infrastructure. This collaboration aims to accelerate transformation journeys by fully unlocking the power of data, providing businesses with cohesive and data-heavy solutions that bring unprecedented agility and insight.

Microsofts Dion Ubert talks with theCUBE about integrated cloud and AI solutions.

We at Microsoft came up with a new strategy, what we call the adaptive cloud. And adaptive cloud is a cloud that adapts to the circumstances of our customers to run Azure anywhere and everywhere with our primary and secondary workloads, said Dion Ubert (pictured), global adaptive cloud and AI sales director at Microsoft. Thats a huge difference in the market compared to those other solutions out there. And so when you think about this, we really co-engineered together with HPE and platform that really brings the cloud to the customer instead of the customer to the cloud with this strategy.

Ubert spoke with theCUBE ResearchsDave Vellante and Rebecca Knight at HPE Discover, during an exclusive broadcast on theCUBE, SiliconANGLE Medias livestreaming studio. They discussed how HPE and Microsoft are bringing the cloud to customers, the importance of hybrid cloud and revolutionizing edge computing. (* Disclosure below.)

With data stacks at companies more cohesive than ever, many leaders are wondering how to take this data and fit it into their hybrid cloud infrastructures. Microsoft Fabric, an end-to-end analytics data platform, is one answer to this question.

You can pull that through now with Arc-enabled services to run it on top of HPE hardware and utilizing the local data to be analyzed and create an end-to-end from cloud to action, from Azure to cloud point of view on what your data is saying, what are the key trends are in that space, Ubert said.

Microsoft and HPE are continuing to innovate together, focusing on edge computing as a promising landscape for the future. Both see this area as fertile ground for significant advancements.

We are bringing all kinds of form factors together that run on our software. Thats part of our adaptive cloud where we adapt to the circumstances of our customers to run Azure anywhere and everywhere because we believe that the world is hybrid, Ubert said.

Heres the complete video interview, part of SiliconANGLEs and theCUBE Researchs coverage of HPE Discover:

(* Disclosure: TheCUBE is a paid media partner for HPE Discover. Neither Hewlett Packard Enterprise Co. and Intel Corp., the primary sponsors of theCUBEs event coverage, nor other sponsors have editorial control over content on theCUBE or SiliconANGLE.)

THANK YOU

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Integrated cloud and AI: Accelerating digital transformations - SiliconANGLE News

Leading Colocation Services Company Achieves 13% Increase in New Customer Growth for Private Cloud Hosting in … – PR Web

June 26, 2024 | Author: admin

"We are thrilled to see such significant private cloud growth in the first half of 2024 and are excited to continue our momentum in the second half of the year." - Shannon Hulbert, Opus Interactive CEO

"COVID was a paradigm shift for cloud computing that saw most enterprises push workloads into public cloud services. What we're seeing now is the next evolution in cloud where enterprises are migrating some of those workloads to achieve improved security, cost, or performance. Hybrid and multi cloud strategies are the new norm. No everything belongs in public cloud. Some needs to be in private cloud, some on prem, and some colocated. It depends on a variety of factors," said Shannon Hulbert, CEO of Opus Interactive. " We are thrilled to see such significant private cloud growth in the first half of 2024 and are excited to continue our momentum in the second half of the year. Our new partnerships with JSA and expansion into Broadcom Advantage will enable us to provide even more value to our customers and further solidify our position as a leader in the hybrid cloud space."

Opus Interactive's cloud and colocaton solutions enable businesses to seamlessly integrate and manage their workloads across multiple cloud providers and types, including private cloud offerings and public cloud (AWS, Azure, and Google Cloud). With a focus on security, compliance, and cost optimization, Opus Interactive's solutions are designed to meet the unique needs of each business.

About Opus Interactive

Opus Interactive helps customers reduce costs and optimize resources with tailored cloud hosting and colocation solutions. Our mission is to build trusted results that pave the way for sustainable IT and the next generation of technology builders.

Founded in 1996, Opus Interactive has earned a reputation for delivering hosting solutions that meet enterprise requirements for compliance, performance, security, and cost. Through strategic partnerships with industry-leaders and a relentless commitment to customer satisfaction, the woman-owned cloud provider offers:

Opus is a Premier Member and Broadcom VMware Whitelist Provider within the Advantage Program. An accredited member of the International Managed Services Provider Alliance with PCI-DSS, HIPAA, ISO 27001, and SSAE 18 SOC 2 compliance, the WBENC certified company operates from Tier III+ data centers located in Hillsboro, Portland, Dallas, and Northern Virginia with partner expansion availability in over 30 regions within the United States.

Proudly supporting: Sustainable IT, STEM, Women in Tech, and Digital Inclusion.

For more information, please visit opusinteractive.com

Media Contact

Charles Case, Opus Interactive, 1 5033814977, [emailprotected], opusinteractive.com

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SOURCE Opus Interactive

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Leading Colocation Services Company Achieves 13% Increase in New Customer Growth for Private Cloud Hosting in ... - PR Web

Expert Shares Strategy to Turn $1,000 into $1M and Retire Early – The Crypto Basic

June 26, 2024 | Author: admin

The crypto analyst from the Altcoin Daily channel recently revealed a retire early, which proposes turning a mere $1,000 into a million-dollar fortune.

In a recent analysis, the Altcoin Daily host warned that BlackRocks Larry Fink and key figures in the U.S. political scene, like Donald Trump, are about to pump crypto markets higher than ever before. He asserted that current participants are in a position to amass generational wealth as a result.

First, he drew attention to the incoming phase of the currently successful Bitcoin spot ETFs market. According to the latest records, the U.S. Bitcoin spot ETF market has seen a cumulative inflow of $14.56 billion after 112 trading days.

Meanwhile, the Altcoin Daily analyst and Brian Dixon, CEO of Off the Chain Capital, believe the best is yet to come. They argued that the buying pressure of BTC by ETFs is just about to heighten.

In an interview with CNBC, Dixon argued that much larger allocations to Bitcoin spot ETFs are on the horizon. He explained that large investors like sovereign wealth funds, endowments, pension plans, and foundations are still in the process of conducting due diligence.

He noted that these investors must complete their research, move through investment mandates and committees, and educate their clients before making allocations. Accordingly, Dixon expects the most significant inflows into Bitcoin spot ETFs to surface towards the end of this year and early next year.

On the political side, U.S. presidential candidates Donald Trump, Joe Biden, and Robert F. Kennedy Jr. are courting the crypto community, which now boasts over 50 million Americans.

Moreover, even traditionally anti-crypto Democrats are becoming more supportive of crypto, further underscoring its increasing relevance in politics. Trump, in particular, has expressed a strong desire even to build a Crypto Army.

To stress the significance of the current situation, Dixon highlighted that Bitcoin has historically followed its cycles regardless of the election, generating significant performance gains.

He emphasized that this pattern has occurred independently of election cycles. Dixon noted that the addition of ETFs further amplifies the performance potential for this cycle as ETFs provide an easier onramp for people to gain exposure to Bitcoin.

Regarding the growing negative sentiment in the market, Dixon stressed that market dips should not deter investors. The industry pundit pointed out that Bitcoin experiences several 20-30% drops during bull markets before reaching new highs.

This pattern was observed in 2017 and 2021 and is already in play in 2024. As a result, he highlighted that volatility is necessary for the market to allow for more significant price movements on the upside.

Commenting on this, the Altcoin Daily presenter posited that once Bitcoin clears $100,000, altcoins will go crazy, leading to opportunities for generational wealth.

Accordingly, he emphasized that now is the time to get involved in the crypto market. He urged investing in altcoins before Bitcoin embarks on a rally towards $500,000 by next year, as depicted in his presentation.

Notably, altcoins are known for outperforming Bitcoin. A hypothetical surge of Bitcoin to $500,000a gain of over 7x from its current valuecould set altcoin investors up for even greater returns, especially with meme coins renowned for their potential 100x gains.

For example, during the 2021 bull run, Shiba Inu soared by over 884,000%, while Bitcoin only surged 720%.

Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basics opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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Expert Shares Strategy to Turn $1,000 into $1M and Retire Early - The Crypto Basic

Crypto sees over $300 million in liquidations as Bitcoin, altcoins plummet – crypto.news

June 26, 2024 | Author: admin

Bitcoin price broke below $61,000 on Monday as bearish pressure intensified, and the market has seen over $320 million in total liquidations in 24 hours as a result.

With bulls unable to hold key price levels as BTC traded lower, todays dip sees buyers staring at a potential dip to the psychologically important $60,000 level.

The bloodbath is also visible across the altcoin market as Ethereum failed to hold above the $3,300 level. Meanwhile, Solana, BNB and XRP all shed significant chunks of recent gains. Uniswap and Maker, down 12% and 9% in the past 24 hours, are the biggest losers among the top 50 coins by market.

As Bitcoin slumped past $62,000 on Monday, total liquidations across the crypto market moved past $300 million.

With BTC below $61k and looking likely to extend losses, the annihilation of leveraged longs increased to over $324 million. More than $286 million are long positions, while $36 million are shorts.

According to data from Coinglass, nearly $132 million of the liquidations are for Bitcoin.

Longs account for the vast majority of the rekt traders at nearly $122 million in 24 hours while liquidated short positions account for about $9.9 million. Per the market data, over $95 million of the liquidated longs have come in the past 12 hours.

Overall, more than 85,440 traders have been liquidated in the past 24 hours. The largest single liquidation order within this period as of 12:30 pm ET on June 24 occurred on Binance a $15.36 million burn on the BTC/USDT pair.

On June 24, the trustee of the bankrupt crypto exchange Mt. Gox announced that the long-awaited repayments for creditors will start in July. With over $9 billion in BTC with the defunct exchange and earmarked for distribution, investor reaction to the news was swift and biting.

Bitcoin price tumbled more than 5% after the news, breaking past support levels as fears of a potential sell-off pressure struck the market. The downward pressure also comes amid recent selling by a wallet linked to the German government.

Earlier this year, German police seized close to 50,000 BTC worth around $2.1 billion at the time.

Bitcoins gains over the past months meant the total value of the coins reached over $3 billion. But data from Arkham Intelligence shows the wallet has recently sold off a significant number of BTC, likely contributing to the selling.

Miners have also sold quite a chunk, with IntoTheBlock data showing about 30,000 BTC sold post-halving.

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Crypto sees over $300 million in liquidations as Bitcoin, altcoins plummet - crypto.news

Coinbase Lists LayerZero Altcoin, Expert Reveals The Next Coin To Debut On The Exchange – The Cryptonomist

June 26, 2024 | Author: admin

These 3 Altcoins Under $0.1: ETFSwap (ETFS), Shiba Inu (SHIB), and Pepe (PEPE) Frontrun Institutional Investors – DailyCoin

June 26, 2024 | Author: admin

Altcoins like ETFSwap (ETFS), as well as Shiba Inu (Inu), and Pepe (PEPE) have a huge potential.

The ETFSwap (ETFS) is an innovative DeFi project that provides access to tokenized real-world assets and ETFs on the blockchain. The platform redefines ETF trading and allows users to leverage its expertise.

As demand increases value, ETFSwap (ETFS) obtains exceptional features of the platform, such as the 247 market coverage that allows the freedom to open and close trading positions at any time, with risk management and robust security measures.

You will also find AI-powered tools such as ETF Screener and ETF Tracker, which will capably analyze the best-performing ETFs worth trading based on historical data.

The alcoins price is $0.1831 at this stage, as the next stage of presale is already pegged at $0.0384.

Shiba Inu (SHIB) is a major choice among promising altcoins currently under $0.1 but seeing increased adoption. As a meme coin Shiba Inu (SHIB) enjoys the hype from fans and the support of influencers to keep it relevant among crypto enthusiasts.

However, the Shiba Inu (SHIB) altcoin leverages the Ethereum (ETH) blockchain to give it increased scalability.Currently the price of Shiba Inu (SHIB) is 0.0000177 which is a 0.17% surge in the past 24 hours.

The Pepe (PEPE) price is continuously surging because of the continuous activity, making it a major contender among altcoins. The meme coin was impressive in May of this year. The feat helped PEPE take its place among the top 20 altcoins based on market cap.

Despite being low-valued, PEPE is minting millions of dollars for its investors. From its beginning a year ago, PEPE has become the most preferred altcoin in the meme coin category.

PEPE received some support recently as Coinbase, a leading global CEX, recently commenced trading PEPE perpetual futures contracts on its platform.

ETFSwap (ETFS), Shiba Inu (SHIB) and Pepe (PEPE) are 3 hidden gem altcoins.

For more information about the ETFS presale: Visit ETFSwap Presale Join The ETFSwap Community

This article contains a press release from an external source. The opinions and information presented may differ from those of DailyCoin. Readers are encouraged to independently verify the details and consult with experts before acting on any information provided. Please note that our Terms and Conditions, Privacy Policy, and Risk Warning have been recently updated.

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These 3 Altcoins Under $0.1: ETFSwap (ETFS), Shiba Inu (SHIB), and Pepe (PEPE) Frontrun Institutional Investors - DailyCoin

Altcoin surge incoming: BTC dominance takes sharp dive in 24 hours – Finbold – Finance in Bold

June 26, 2024 | Author: admin

Bitcoin (BTC) dominance has experienced a significant 2% drop in the last 24 hours, sparking renewed interest and optimism among altcoin investors. This dramatic shift comes on the heels of a sharp sell-off earlier this week, raising questions about the onset of a new altcoin season.

Over $122 million in leveraged long Bitcoin positions were liquidated as BTCs price dropped below $61,000, raising the risk of potentially falling below the critical $60,000 threshold.

The BTC Liquidation Heatmap, shared by Credible Crypto on X (formerly Twitter), highlights the largest amount of long liquidations in a single day since April. Negative funding rates imply traders are paying to hold short positions, indicating bearish sentiment.

Despite high open interest, many long positions have already been liquidated, potentially reducing future selling pressure. This massive liquidation and price decline directly contributed to the drop in BTC dominance, suggesting a reallocation of capital into altcoins.

Prominent analyst Dami Defi shared insights indicating a sharp decline in BTC dominance, suggesting that altcoins are gaining market share.

Historically, a drop in BTC dominance often leads to a surge in altcoin prices. The Total 3 Index, which measures the total market capitalization of all cryptocurrencies, excluding Bitcoin and Ethereum (ETH), remains stable at crucial support levels, supporting the argument that the altcoin market is poised for a resurgence.

Analysts also noted that the BTC dominance drop signals a liquidity flow into altcoins, echoing similar patterns from past market cycles. The holding of local support by the Total 3 Index further supports the notion of a potential altcoin season.

In the wake of the recent Bitcoin price correction, which saw BTC dip below $59,000 before rebounding to $61,500, altcoins have shown remarkable resilience. Over the weekend, altcoins have shown significant activity despite Bitcoins disappointing performance.

While BTC and Ethereum traded in the red, altcoins like Solana (SOL), Toncoin (TON), Dogecoin (DOGE), and Cardano (ADA) have posted impressive gains, erasing their losses from the previous week.

Prominent crypto analyst Michael van de Poppe observed a familiar pattern where altcoins typically follow Bitcoins downward trend but then bounce back once BTC bottoms out.

His analysis shows that Bitcoin pairs often exhibit signs of bottoming before USDT pairs, suggesting that current movements in altcoin prices against Bitcoin may indicate an imminent reversal. His analysis highlights the recent strong bounce in Bitcoin from its range lows, with altcoins performing even better since that level.

The ongoing developments related to the Mt. Gox Bitcoin repayments have also added to market volatility. Anticipation of these repayments has contributed to fluctuations in BTC prices, indirectly affecting altcoin performance.

With altcoins showing strength and market indicators pointing towards a potential trend reversal, investors are closely watching for signs of an impending altcoin season.

The Altcoin Season Index, a metric used to gauge the relative performance of altcoins against Bitcoin, currently sits at a low of 22 out of 100. This reading indicates that we are still in a Bitcoin Season, but the market conditions are showing early signs of a potential shift.

While there are promising signs of an upcoming altseason, the cryptocurrency market remains inherently unpredictable. Investors should remain vigilant and stay informed about market trends and changes.

It is crucial to thoroughly investigate and analyze altcoin projects when building investment positions to maximize potential gains while effectively managing risks.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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Altcoin surge incoming: BTC dominance takes sharp dive in 24 hours - Finbold - Finance in Bold

Cloud Hosting

Oracle to Invest Over $1 Billion in AI and Cloud Computing in Spain – Blockchain News

New & Noteworthy: Fast, Flexible and Scalable Simulation In the Cloud – Digital Engineering 24/7 News

Teradata Collaborates with Google Cloud on Enterprise-Scale Trusted AI Offerings – Datanami

Integrated cloud and AI: Accelerating digital transformations – SiliconANGLE News

Leading Colocation Services Company Achieves 13% Increase in New Customer Growth for Private Cloud Hosting in … – PR Web

Expert Shares Strategy to Turn $1,000 into $1M and Retire Early – The Crypto Basic

Crypto sees over $300 million in liquidations as Bitcoin, altcoins plummet – crypto.news

Coinbase Lists LayerZero Altcoin, Expert Reveals The Next Coin To Debut On The Exchange – The Cryptonomist

These 3 Altcoins Under $0.1: ETFSwap (ETFS), Shiba Inu (SHIB), and Pepe (PEPE) Frontrun Institutional Investors – DailyCoin

Altcoin surge incoming: BTC dominance takes sharp dive in 24 hours – Finbold – Finance in Bold

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