Crypto News
Solana-Based DEX Raydium’s RAY is Still Too Hot To Handle: Godbole
Annualized perpetual funding rates in small cap tokens after bitcoin's (BTC) recent bullish pause has cooled jets in the broader market, shaking out over-leveraged positions and normalizing costs associated with betting on price rallies. One token, however, is still blazing hot: Solana-based decentralized exchange Raydium's native cryptocurrency, RAY.As the only coin with annualized perpetual funding rates still exceeding 160%, RAY stands out among the small, mid and large-cap tokens as the most overheated cryptocurrency, according to data from VeloData. The elevated rate suggests the market for RAY is overcrowded with long positions, with leverage skewed heavily toward the bullish side.In such conditions, even a slight dip in price can shake the confidence of over-leveraged bulls, especially late entrants, triggering a...
Memecoins Show Coinbase’s Base Blockchain Isn’t So Centralized, Founder Says
BANGKOK – Coinbase's Base blockchain launched in August 2023, and grew with the power of memecoins like BALD, a reference to CEO Brian Armstrong's bare scalp. But the protocol's creator says there's more to the story than silliness.“BALD caught us all by surprise. You know, this was before the public launch of Base. It was when it was just open for developers," Jesse Pollak said during an interview on the sidelines of Devcon in Bangkok. "I remember waking up on Saturday morning and being like, what is going on? It was not in our plan, and it happened.”BALD was a salient reminder before Base’s public launch that the crypto space can be unpredictable, and sometimes, rather than trying to control...
AI-Powered Wearable Device Restores Natural Speech for Stroke Patients
The “intelligent throat” system, created by an international team of researchers, combines advanced sensors and artificial intelligenceSource link
Data Analytics and AI Firm Raises $5 Billion, Has No Plans for an Imminent IPO
Databricks, a data and AI company, is reportedly raising $5 billion in its latest funding round, aiming for a total of $8 billion, which could be the largest this year. Prioritizing Growth Over IPO Databricks, a San Francisco-based data analytics and artificial intelligence (AI) company, is reportedly raising $5 billion in its latest funding round,Source link
Bitcoin Pumps Above $97K, Then Dumps, as Ether, XRP Surge 7%
Bitcoin zoomed above $97,000, bringing hopes of breaching the landmark $100,000 level on social media, before paring gains to nearly $95,500 in Asian morning hours on Thursday.BTC added 3.3% in the past 24 hours, data shows, ahead of a Thanksgiving weekend that has historically recorded sudden price dumps. Strength in BTC buoyed major tokens, with ether (ETH) outperforming with a 7% surge, XRP and BNB Chain rising 6%, and dogecoin (DOGE) adding more than 5%.A CoinDesk analysis on Wednesday pointed out rising activity on ETH-linked futures and on-chain movements, indicative of traders expecting volatility to the update on the second-largest crypto asset.Data shows a bump in revenue, fees, new wallets and on-chain volumes on Ethereum, with the past month showing...