.. âWhy did the Chinese app Deepseek's R1 cause an earthquake? đ Investors woke up on Monday to the success of a relatively small Chinese player in the world of artificial intelligence. According to "Fortune" magazine, investors were terrified by a model that was allegedly trained on a small budget, outperformed GPT-4O, Llama 3.3-70B, and Alibaba's QWEN2.5-72B, and also came from a country that is supposedly behind the United States in artificial intelligence capabilities.. So why did the Chinese app cause an earthquake in the world of artificial intelligence? đ Deepseek's R1 application took two months to develop and less than $ 6 million to build, with old chips. đ In contrast, OpenAI, the creator of ChatGPT, was founded 10 years ago, and raised $ 6.6 billion in capital. đ Companies like OpenAI and Anthropic spend more than $100 million on computing power, relying on massive data centers filled with $40,000 GPUs. đ Hangzhou-based DeepSeek was born out of a Chinese hedge fund with $1.4 billion in assets under management as of 2019, according to the South China Morning Post. The fund spun off DeepSeek in 2023, making it an AI startup developing models and building AI products, with a small team of fewer than 200 people. đ OpenAI, by contrast, has about 4,500 employees. Source: Yahoo Finance + Fortune
The collapse of the cryptocurrency market today can be attributed to a combination of economic factors and breaking news. Investors' fears were heightened ahead of the U.S. Federal Reserve's (FOMC) meeting, with expectations of interest rate hikes making speculative assets like cryptocurrencies less attractive. Additionally, news about a new Chinese AI app competing with ChatGPT raised concerns about the value of U.S. stocks, which in turn affected stock markets worldwide, spilling over to the crypto market. Major cryptocurrencies like Bitcoin, Ethereum, and Ripple experienced significant drops at the start of trading today.$BTC
Todayâs cryptocurrency market crash is due to a combination of economic factors and news. Prices were affected by investor concerns ahead of the US Federal Reserve (FOMC) meeting, with expectations of higher interest rates making speculative assets like cryptocurrencies less attractive. Additionally, news of a Chinese AI app competing with ChatGPT raised concerns about the value of US stocks, which translated into declines in the stock market that affected cryptocurrencies. Currencies like Bitcoin, Ethereum and Ripple also saw significant declines as trading began today.
Solana (SOL) has emerged as a high-performance blockchain, known for its speed and scalability. It uses a Proof-of-Stake (PoS) consensus with an additional Proof-of-History (PoH) algorithm, enabling up to 50,000 transactions per second. This positions Solana as a strong competitor to Ethereum, especially in decentralized finance (DeFi) and non-fungible tokens (NFTs). Analysts from various sources predict significant growth potential for SOL, with VanEck suggesting a base case price of $335 by 2030, while Bitwise projects a range from $2,319 to $6,637. Recent market sentiment is buoyed by the anticipation of Solana ETFs, which could bring in billions in new investments. However, investors should be wary of regulatory uncertainties and network stability issues that have occasionally plagued Solana. Despite these challenges, SOL's technological edge and community support make it an intriguing investment for those looking at long-term gains.
đ° #ETH is Top 2 by Market Cap đ° #BNB is Top 5 by Market Cap đ° #SOL is Top 6 by Market Cap
ETH is re-accumulating at the Middle Zone (Imo it's awesome levels for the mid-term flip) #BNB fixation above Major Resistance (a bit late but still good levels to buy the retest) #SOL is just now breaking its Major Horizontal Resistance (it's just the right time to enter)
These projects are just like proven horses! They won't disappointđđ
#EOS has broken out of its descending channel with support at $0.4000-$0.445đŞ. For the rally to gain momentum, EOS needs to clear the resistance at $0.5500. Watch closely for potential upward moves in the #CryptoMarketđ.