Tag: new

Whale-Backed PEPE Coin’s Price Jumps 50%: What’s Next?

admin — Fri, 26 Apr 2024 01:00:00 +0000

PEPE price has seen a more than 50% rise in the span of a week and is seemingly going to continue this rally.

The meme coin has also received support from its whales, and this chunk of PEPE supply could be just the boost it needs.

PEPE Investors See Potential

PEPE price, trading at $0.00000738 at the time of writing, has witnessed massive support from its investors. These meme coin enthusiasts have added PEPE to their wallets, bolstering the ongoing rally.

A very important cohort in this process has been the whales. These large wallet holders have accumulated over 3.3 trillion PEPE worth more than $24.3 million in the last two weeks, bringing their total holdings to 46.96 trillion PEPE.

PEPE Whale Holdings. Source: Santiment

Their conviction has provided the meme coin with the necessary support to continue rising. This price increase is expected to continue as over 92 trillion PEPE are on the verge of becoming profitable to its investors.

Worth more than $686 million, this supply was bought at between $0.00000700 and $0.00000890. Given the meme coin is currently trading at $0.00000738, it could flip this supply of PEPE into profit-bearing assets.

PEPE GIOM. Source: Into TheBlock

Consequently, it would result in the altcoin witnessing further growth in price as the potential of profits would drive more investors to the coin. This would also encourage existing PEPE holders to HODL instead of sell.

PEPE Price Prediction: A Key Barrier

PEPE price did manage to escape the descending wedge, but it is still facing a crucial barrier on its path to $0.00001000. The resistance level marked at $0.00000826 has been tested as both resistance supports in the past.

Flipping this line into support is key, as only then can the aforementioned supply have a shot at becoming profitable. This would also enable the PEPE price to rally on and test the $0.00001007 resistance, validating the 60% target obtained by the falling wedge.

PEPE/USDT 1-day chart. Source: TradingView

However, if the breach fails, the PEPE price could note a drawdown to test the support at $0.00000633. Losing this as support would invalidate the bullish thesis, pushing the meme coin towards $0.00000474.

The post Whale-Backed PEPE Coin’s Price Jumps 50%: What’s Next? appeared first on BeInCrypto.

Samsung plans more Galaxy AI updates, with video AI, Google collaboration looking likely

admin — Fri, 26 Apr 2024 00:25:13 +0000

Samsung is launching a new version of its One UI. And it could focus on interesting AI features, according to multiple reports.

Ethereum, Solana and Altcoins Approaching ‘Banana Zone,’ According to Macro Guru Raoul Pal – Here’s His Outlook

admin — Fri, 26 Apr 2024 00:00:58 +0000

Ex-Goldman Sachs executive Raoul Pal says the altcoin market cap is on the verge of soaring to new all-time highs (ATHs).

In a new video update, the Real Vision CEO says that the digital assets market could enter “crypto summer” within a month, when Ethereum (ETH), Solana (SOL) and other alts could have massive rallies.

A “crypto summer” generally means increased prices, higher trading volume, bullish market sentiment, more network development and wider adoption.

“It’s very normal for crypto spring for Bitcoin to outperform and then as we come into crypto summer that we’re transitioning into now ETH starts to outperform Bitcoin…

Will it outperform Solana? I very much doubt it. Solana is earlier in the adoption curve so it means the percentage changes are larger.

You can see the start of crypto spring, which was the breakout of this pattern and the slight acceleration. That says we’re getting to warmer days of spring as it were. But really, summer happens when you break the previous all-time high in market cap and things go utterly bananas. So this [chart below is altcoins] excluding Ethereum, so this is the rest of the space, really starting to accelerate and sometime in 2024 we will hit an all-time high market cap of altcoins and this chart will go truly into the banana zone.”

Source: Raoul Pal/X

Pal also predicts that the crypto market will have a “crypto fall” similar to the 2013 and 2017 cycles when the market extended rallies even higher. Many analysts believe that crypto runs in four-year cycles and divides the cycles up into four seasons of the year to explain the different phases.

“Let’s talk about crypto summer just in very simplistic terms. Here is the chart of the seasons. So spring is green. We had a great spring this year. Summer is when a lot of the gains start to happen. Fall was tricky last time around. We got a stunted cycle. If you remember that kind of double-toppy style thing.

It was highly unusual. 2017, and 2013 were typical of the fall season. And so we don’t know how this one’s going to play out. I think it plays out more like 2013, 2017, but it’s all assessing the odds as we go. But right now this is the easy year, the summer.”

Source: Raoul Pal/X

Pal predicts that crypto summer will begin in the next month to month and a half.

“Very soon, like in the next month, next month and a half, we will start to hit the banana zone. And this is what happens when you hit the banana zone. Things get absolutely wild, which is the really magical part of why this is the greatest macro trade of all time is this part and it’s coming.”

Source: Raoul Pal/X

Looking at his chart, Pal suggests that during “crypto summer” Bitcoin (BTC) could soar into the six-figure range, reaching as high as $300,000.

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The post Ethereum, Solana and Altcoins Approaching ‘Banana Zone,’ According to Macro Guru Raoul Pal – Here’s His Outlook appeared first on The Daily Hodl.

Microsoft: Unlocking AI Benefits Will Require Cultural Changes for Enterprises

admin — Thu, 25 Apr 2024 23:47:28 +0000

Digital transformation is the name of the game — and that’s great news for Microsoft.

The company, which reported its Fiscal Year 2024 Q3 earnings results on Thursday (April 25), has seen ongoing enterprise digitization fuel a greater appetite across the business landscape for innovations like artificial intelligence (AI) and cloud services — innovations that Microsoft is more than happy to provide to its customers.

“Microsoft Copilot and Copilot stack are orchestrating a new era of AI transformation, driving better business outcomes across every role and industry,” said Satya Nadella, chairman and chief executive officer of Microsoft. “More than 65% of Fortune 500 companies now use Azure’s Open AI service.”

“This quarter Microsoft Cloud revenue was $35.1 billion, up 23% year-over-year,” emphasized Amy Hood, executive vice president and chief financial officer of Microsoft.

Per its financial results, Microsoft saw a growth of 31% in its Azure unit and said 7% of that total was from AI.

The company’s productivity and business processes segment, which encompasses the Office suite of applications, LinkedIn and Dynamics, also saw impressive gains, generating $19.6 billion, up 12% from the same period last year.

The continued integration of AI and machine learning into these platforms has enhanced their appeal to both individual and corporate users, contributing to their growth.

“It’s important to think about every business function that can be impacted by AI and cloud, and the opportunity is significant,” Hood said.

Microsoft is Scaling Investments in AI Amidst Growing Demand

Microsoft announced Thursday it had beat Wall Street analyst estimates for both its latest earnings and its revenue, and the company’s shares rose around 5% in early after-hours trading.

The tech giant’s ability to outperform amidst economic uncertainties has solidified its position as a leader in the technology sector, showcasing the effectiveness of its diversified business model. Over the past fiscal year, Microsoft’s stock has climbed more than 40%, emphasizing its pole position within the AI arms race.

It’s a position that Microsoft has indicated to investors that it will continue to spend billions on to maintain, with upcoming capital expenditures geared toward establishing the appropriate levels of infrastructure needed to accommodate the booming appetite for AI’s hot technology.

PYMNTS wrote late last month about Microsoft and OpenAI’s $100 billion data center project, which involves an AI supercomputer named “Stargate,” set to launch in 2028.

The company is also investing $2.9 billion into expanding its cloud and AI infrastructure in Japan, as well as launching a new AI hub in London. Microsoft also this month invested $1.5 billion in Abu Dhabi-based AI firm G42.

“Priority one is ensuring that we have the capacity to support our per-user AI and cloud products,” Hood said.

That’s because embracing AI transformation has become a priority for organizations around the world seeking to unlock AI opportunities.

And as executives repeatedly stressed to investors, the growing appetite for AI and cloud-driven transformations is going to result in a foundational phase shift across the ways in which enterprises operate.

“Culture and process change inside of organizations is crucial … companies have to take a process, simplify it, automate it and then apply these solutions — which requires companies to culturally change how they adopt technology to drive performance,” Nadella said during the call, explaining that an AI Copilot on every desk, every device and across every role is core to Microsoft’s mission to empower every person and every organization on the planet to achieve more.

“We are also taking our own medicine to apply this internally,” he added.

Executives on the call pointed to a new $1.1 billion, five-year strategic partnership announced Tuesday (April 23) between The Coca-Cola Company and Microsoft to accelerate cloud and generative AI initiatives as an example of both the growing demand for AI-led enterprise optimizations.

Through the partnership, the companies will jointly experiment with groundbreaking new technology like Azure OpenAI Service to develop innovative generative AI use cases across various business functions. This includes testing how Copilot for Microsoft 365 could help improve workplace productivity, according to a statement from Microsoft.

“Microsoft’s capabilities help accelerate our adoption of AI to create incremental enterprise value,” said Neeraj Tolmare, senior vice president and global chief information officer for The Coca-Cola Company.

The post Microsoft: Unlocking AI Benefits Will Require Cultural Changes for Enterprises appeared first on PYMNTS.com.

Stripe to Launch Support for Global Stablecoin Payments This Summer

admin — Thu, 25 Apr 2024 23:11:47 +0000

Stripe is bringing back crypto payments after stopping them in 2018.

John Collison, co-founder of Stripe, said in a Thursday (April 25) post on X (formerly Twitter): “Crypto is back.”

Crypto is back. @Stripe will start supporting global stablecoin payments this summer. Transactions instantly settle on-chain and automatically convert to fiat. Join the waitlist https://t.co/hws2OsU3Id and watch the demo (h/t @Solana) from Sessions. pic.twitter.com/zGKYW2FM6i

— John Collison (@collision) April 25, 2024

Collison said in the post that Stripe will start supporting global stablecoin payments this summer, that transactions will instantly settle on-chain and automatically convert to fiat, and that the company has posted a waitlist for this feature.

The company enabled bitcoin payments 10 years ago but stopped in 2018, with Collison saying the experience at the time was “pretty terrible” and Stripe saying there was a lack of demand, Bloomberg reported Thursday.

The upcoming offering will let merchants use the Stripe platform to accept stablecoins for online transactions, according to the report.

Collison said Thursday during Stripe’s annual conference that there have been a lot of technical improvements in crypto, that transaction speeds have gone up, that fees have gone down, that stablecoins are becoming “more stable” and that crypto has found “real utility,” per the report.

In a video included in his Thursday post on X, Collison offered a preview of the new feature, demonstrating a payment using USDC.

Stripe had been an early supporter of bitcoin payments, beginning its support in 2014, but ended that at the beginning of 2018. When ending that support, the company cited technical factors like the lengthening transaction confirmation times, a growing failure rate, transaction fees so high they commonly were as costly as bank wire transfers and the resulting decrease in demand from both Stripe clients and retail customers.

The company’s Jan. 23, 2018, blog post announcing that decision was updated Thursday to say: “This summer, businesses using Stripe to accept payments online can add the option for their customers to pay with stablecoins.”

PYMNTS Intelligence reported in October 2022 that “tech-driven consumers” are the most willing to try cryptocurrency.

Among these consumers — who make up about 15% of the overall consumer market — about one-quarter are habitual cryptocurrency users who use it at least 10 to 20 times a month, according to “Shopping with Cryptocurrency: Tech-Driven Consumers Drive Market Acceptance,” a PYMNTS Intelligence and BitPay collaboration.

The post Stripe to Launch Support for Global Stablecoin Payments This Summer appeared first on PYMNTS.com.

Alphabet Q1 Earnings Focus on AI Monetization

admin — Thu, 25 Apr 2024 22:40:14 +0000

Come for the comments about AI. Stay for the earnings call. That will most likely be the pattern of big tech earnings over the next two weeks as companies prioritize technology over financial reporting.

It was the case when Meta reported Wednesday (April 24). And it was the case for Alphabet when it reported its Q1 earnings on Thursday (April 25).

By the numbers, the company rode its traditional revenue drivers of search, cloud and YouTube to an operating income jump of 46% year over year, to $25.47 billion.

But after Meta stock got hit with investors frustrated over the company’s $30 billion-plus price tag for artificial intelligence (AI) development, Alphabet’s navigation of that issue was expected to be on display. However, no such specific number was forthcoming. Instead, CEO Sundar Pichai placed AI in the context of the company’s history and product development track record.

He noted that it took Google more than 15 years to reach $100 billion in annual revenue. And in the past six years it has gone from $100 billion to more than $300 billion in annual revenue. The implied message was that AI will reach these lofty targets, and as a quick postscript to his opening remarks on the earnings call, Pichar said that the company’s YouTube and cloud business alone will have a $100 billion run rate by the end of the year.

But the focus was squarely on AI. Pichai detailed six main areas where Alphabet is enhancing its AI capabilities, each underscoring the company’s trajectory towards integrating AI across most all of its products and services.

First, Pichai emphasized Alphabet’s foundation in AI research, having identified itself as an “AI-first” company since 2016. He highlighted the rollout of Gemini 1.5 Pro, a model that improves long-context understanding and multimodal capabilities across various formats like audio and video, which has been well received by developers and enterprise customers.

In terms of infrastructure, Pichai claimed that Alphabet maintains a leading position with some of the most efficient and secure data centers designed specifically for AI model training. These facilities are supported by custom fifth-generation GPUs, which are integral to developing and deploying advanced AI projects, including the Gemini models.

Pichai then moved to AI innovations in search, which he described as a critical area of growth. Alphabet has been integrating AI to enhance search functionalities, allowing users to handle more complex queries and interact with search results in innovative ways, such as through visual search on mobile devices. He said these capabilities have not only increased user engagement but also satisfaction, reflecting positively on the company’s strategic implementation of AI.

Pichai also discussed Alphabet’s global product footprint, noting that the company operates over six products with monthly users exceeding 2 billion, including Android devices. This extensive reach provides a robust platform for deploying new AI-driven features broadly, enhancing user experiences worldwide.

Pichai then outlined the company’s efforts to increase operational velocity and efficiency. Recent organizational changes, such as the unification of machine learning infrastructure and developer teams, aim to streamline operations and accelerate decision-making within the company. This restructuring is part of a broader strategy to enhance product delivery and improve the cost structure, ultimately reflected in Alphabet’s improving operating margins.

Finally, Pichai clearly did what Meta CEO Mark Zuckerberg did not done day earlier: He connected AI to ROI. Pichar detailed monetization strategies linked to AI, noting clear pathways through advertising, cloud services and subscriptions.

He mentioned the integration of Gemini models into Google’s Cloud services and the recent crossing of 100 million paid subscribers on Google One, indicating robust growth and adoption of AI-enhanced offerings. He underscored the importance of AI in securing leadership in cloud cybersecurity and enhancing user engagement on YouTube through AI-driven content and background capabilities.

“We are well underway with our Gemini era and there’s great momentum across the company,” Pichar said.

The post Alphabet Q1 Earnings Focus on AI Monetization appeared first on PYMNTS.com.

Two Decades Of Content In ‘Garry’s Mod’ Taken Down, Possibly By Nintendo Impersonator

admin — Thu, 25 Apr 2024 22:31:18 +0000

The capricious nature of Nintendo’s IP enforcement practices are, if you’re a regular reader here, quite legendary. In this case, however, it seems like Nintendo’s reputation is what played a part in some copyright fuckery, rather than the company engaging in said fuckery itself.

If you’re not familiar with Garry’s Mod, then you obviously weren’t much of a gamer in the mid-2000s. Built off of Valve’s Source engine, the “game” is essentially a sandbox game with all of the physics of the engine, but in an open “world” in which players can more or less do whatever they want. It also allows for all kinds of user-created mods and content to be added. And, because Nintendo was and remains quite popular with a sizable segment of the gaming population, some of that user generated content created over the past roughly two decades included content and characters from Nintendo games.

The past tense in that sentence being important here, given that it was only recently that Kotaku reported that Nintendo demanded and got all of that content yanked down from the game entirely.

In an update to Garry’s Mod’s Steam page, the developers stated, “Some of you may have noticed that certain Nintendo related workshop items have recently been taken down. This is not a mistake, the takedowns came from Nintendo.”

The update continues, “Honestly, this is fair enough. This is Nintendo’s content and what they allow and don’t allow is up to them. They don’t want you playing with that stuff in Garry’s Mod – that’s their decision, we have to respect that and take down as much as we can.”

So why would Nintendo do this now, after years and years of the content in question existing? It obviously cannot be that Nintendo is suffering some form of irreparable harm due to its own fans having fun creating Nintendo-y things within Garry’s Mod. Were that the case, surely all that harm would have come to Nintendo’s attention somewhere over the course of the last eighteen-plus years. But for all that time, Nintendo was silent.

And, it appears, Nintendo has remained silent. Truth be told, there existed a version of this post taking Nintendo to task for being a bunch of nonsensical copyright assbags. That post has since been rewritten into this one, however, after we noticed some interesting contributions from our awesome community on our Techdirt Insider Discord channel.

Brewster T. Koopa was one of the modders who had content removed from Garry’s Mod. They were adamant from the jump that it was unlikely Nintendo was actually behind the takedowns, based mostly on the above timeline. Then came the answer, with a screenshot from another person explaining just what happened.

We’ve seen this sort of thing before. And, frankly, the story here is the same as it was in that previous case with Bungie. The reason these bad actors are able to pull this sort of crap is due to two things. First, and least important, is Nintendo and Bungie’s reputations for being absolutely draconian when it comes to copyright enforcement. That’s something fairly close to victim blaming in this instance, to be sure, but it’s hard to imagine someone being able to pull this off with a CD Projekt Red or a company with a reputation for being more lenient on copyright matters.

But the real culprit here is Valve’s DMCA review process. If some folks on the internet can figure out in fairly short order that these takedowns are coming from an email address and domain that are not actually owned by or associated with Nintendo, then someone on Valve’s end could have figured this out as well. Instead, the content just came down. And if we’re going to have a DMCA process that looks anything remotely like it does today, that’s a pretty damned big problem. Collateral damage when it comes to matters of speech are simply not acceptable.

So, Valve needs to do better. And, sure, it would be nice if Nintendo turned over a new leaf and was better on copyright matters generally, but the company in this case was also something of a victim here.

Abu Dhabi Global Market and Hacken to Enhance Blockchain Security and Compliance

admin — Thu, 25 Apr 2024 22:23:39 +0000

Abu Dhabi Global Market (ADGM), the international financial centre of the UAE’s capital, and Hacken, a global enabler of blockchain security auditing, have signed a Memorandum of Understanding (MoU) to set new benchmarks for blockchain security and compliance. This partnership reflects a synergy “between a... Read More

Mastercard Debuts Enhancements to FinTech Express and Engage Programs

admin — Thu, 25 Apr 2024 22:14:12 +0000

Mastercard is introducing a card issuance function for its FinTech Express platform.

The payments giant made that announcement Thursday (April 25) as part of a broader rollout of enhancements to FinTech Express and its Engage program.

The idea, the company said in a news release, is to make “it even easier for FinTechs and enablers to partner with Mastercard to quickly build and deploy solutions globally.”

According to the release, Engage — a program launched seven years ago — now includes a self-service portal that allows FinTechs to access exclusive resources, increase brand visibility and secure localized support.

“As for FinTech Express, Mastercard is introducing an end-to-end experience for card issuance and will be adding applications for Tap on Phone, Mastercard Gateway, QR acceptance and more, helping FinTechs accelerate from application to launch in a simple, fast and transparent way,” the company said.

This week also saw Mastercard announce “Scam Protect,” a product suite and several cross-industry partners to combat the use of artificial intelligence (AI) to deceive consumers, essentially using AI to fight AI.

“By combining its identity, biometric, AI and open banking capabilities, the company said it can help protect consumers across the spectrum of internet and payments scams, from card-based and account-to-account payments to fraudulent account openings,” PYMNTS wrote.

That report cited data from the FBI showing that U.S. consumers lost $12.5 billion to internet scams in 2023. Across the ocean, fraudsters in the U.K. were responsible for nearly 1.4 million thefts during the first half of last year — which comes out to one every 12 seconds.

“Scammers are exploiting new technologies, making their deception and impersonation scams increasingly difficult for consumers to recognize,” said Chris Reid, executive vice president of identity solutions, Mastercard. “Building on our innovations in AI and key partnerships, we are supporting financial institutions with insights to better detect and prevent scams, while helping consumers learn how to spot them. This holistic approach means more people will be protected, fostering trust in our digital world.”

Meanwhile, PYMNTS wrote earlier this month about changes in Mastercard’s leadership, part of a similar pattern of executive shakeups at payments companies.

“All these moves reflect the dramatic impact AI has had on the payments industry. Couple AI’s emergence with recent interchange reductions, and you have a pressing need to move data monetization to near the top of the agenda,” PYMNTS wrote. “And given the state of executive decisioning around AI as measured late last year, it’s happening right on time.”

The post Mastercard Debuts Enhancements to FinTech Express and Engage Programs appeared first on PYMNTS.com.

Spot Crypto ETFs Set To Begin Trading in Hong Kong Next Week: Report

admin — Thu, 25 Apr 2024 22:01:27 +0000

Spot market crypto exchange-traded funds (ETFs) are reportedly set to launch in Hong Kong as soon as next week.

According to a new report by Reuters, the three asset managers who are providing the products say that Bitcoin (BTC) and Ethereum (ETH) ETFs should start trading by April 30th as they have already received regulatory approval from the Securities and Futures Commission (SFC).

The report says the companies providing the ETFs will be the Hong Kong branches of China Asset Management, Harvest Fund Management and Bosera Asset Management.

The trio of companies originally received approval by Hong Kong’s financial regulatory authority earlier this month.

Acceptance of the spot market ETFs in Hong Kong comes just three months after the U.S. Securities and Exchange Commission (SEC) approved spot BTC ETFs, leading to billions of dollars of inflows for the top crypto asset by market cap.

Though the SEC eventually ended up greenlighting spot market BTC ETFs, it first rejected them several times over the years. Spot BTC ETFs were only approved after a judge ruled that the regulatory agency must reconsider its stance on the matter to remain consistent with its previous approval of futures BTC ETFs.

Previously, the SEC said it would be delaying its decision on whether or not to approve bids to create spot market Ethereum ETFs. That decision is now slated for sometime in May.

Featured Image: Shutterstock/Sol Invictus/IvaFoto

The post Spot Crypto ETFs Set To Begin Trading in Hong Kong Next Week: Report appeared first on The Daily Hodl.

How to watch 'Thank You, Goodnight: The Bon Jovi Story' from anywhere

admin — Thu, 25 Apr 2024 22:00:30 +0000

From "Livin' on a Prayer" in New Jersey to worldwide multi-platinum domination, the inside story of Bon Jovi. Read on to find out where to watch from anywhere.

3 Hidden Gem Altcoins That May Increase and Surprise Investors Next Month

admin — Thu, 25 Apr 2024 22:00:00 +0000

The crypto market’s volatility in April resulted in Bitcoin and many altcoins witnessing considerable growth.

However, some altcoins missed this opportunity but are preparing to do so in May. BeInCrypto has prepared this analysis to put the spotlight on lesser-known coins that are poised for gains in the coming month.

Eyes on Theta Network (THETA)

Theta Fuel (THETA) price has witnessed nothing but a drawdown throughout April and the second half of March. The altcoin fell from $3.4 to $1.9, marking a 42% correction. Consequently, the altcoin fell into a descending broadening pattern known to be bearish.

However, the Moving Average Convergence Divergence (MACD) indicator suggests differently. MACD is a trend-following momentum indicator that shows the relationship between two moving averages of a security’s price. It helps identify potential buy and sell signals based on crossovers and divergences between these moving averages.

The indicator has only observed bearishness for the past month, which flipped this week as the MACD witnessed a bullish crossover. This will likely initiate the uptrend on the daily chart, which could help THETA break out of the descending broadening pattern to flip $3 into support.

THETA/USDT 1-day chart. Source: TradingView

However, if the breach of the upper trend line fails, the altcoin could see a fall back to the lower trend line. As the pattern suggests, this would result in a potential downtrend, effectively invalidating the bullish outlook.

Ravencoin (RVN) Is at the Cusp of a Breakout

Ravencoin (RVN) price is attempting recovery from the lows of $0.028 and is now aiming at flipping the 23.6% Fibonacci Retracement of $0.058 to $0.028 into support. Marked at $0.035, doing so would enable the altcoin to bounce off the price level and breach the 38.2% and 50% Fib lines.

Marked at $0.039 and $0.043, respectively, breaching them would sustain the rise and push RVN further upwards. The MACD is also at the cusp of noting a bullish crossover with green bars on the histogram. Once this crossover takes place, a potential bullish outcome could be confirmed.

RVN/USDT 1-day chart. Source: TradingView

However, if the 38.2% or 50% Fib levels remain unbreached, RVN could return to the 23.6% Fibonacci line, invalidating the bullish outcome. This might result in a decline to $0.028.

Akash Network (AKT) Is set to Flip Critical Resistance Into Support

Akash Network (AKT) price has been making headlines lately for its Upbit listing and the upcoming summit, which will be the first for the network. This has resulted in AKT posting an almost 74% growth in a single day before retracing the rally down to 25%.

The altcoin is now trading at $4.80, just under the 50% Fibonacci Retracement of $6.25 to $3.44. Closing above this line would enable AKT to breach the 61.8% Fib marked at $5.17. This level is also known as the bull run support floor, as rallies find strength upon branching this line.

AKT/USDT 1-day chart. Source: TradingView

This could help AKT run up to $5.50 and beyond. However, if the breach fails or the 50% Fib level is not secured as a support floor, it could cause a decline to $4.10, effectively invalidating the bullish outcome.

The post 3 Hidden Gem Altcoins That May Increase and Surprise Investors Next Month appeared first on BeInCrypto.

Inside the Stream: Netflix’s Record Q4 Boosted by Paid Sharing and Ads

admin — Thu, 25 Apr 2024 21:47:31 +0000

Netflix added 13.1 million global subscribers in Q4 ’23, its best fourth quarter ever. As we discuss, the company is capitalizing on the introduction of paid sharing and a lower priced ad-supported tier. Paid sharing, which requires those who were using someone else’s login credentials to start their own subscription, has been especially effective. Netflix designed a smart strategy to eliminate this long-valued benefit. It could have become a PR nightmare, but instead has rolled out seamlessly.

Netflix said that the ad-supported tier now accounts for an impressive 40% of new subscriptions in markets where it is available. In yet another move to optimize revenue, Netflix is discontinuing its $11.99 per month Basic plan, which will drive more new subscribers to the ad tier or the least expensive ad-free tier which is $15.49 per month.

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BlackRock Intros Paycheck-Style Retirement Offering

admin — Thu, 25 Apr 2024 21:38:19 +0000

BlackRock has debuted a savings product designed to give retirees a guaranteed, paycheck-style income.

The asset management giant on Thursday (April 25) announced its LifePath Paycheck solution, which gives plan participants the option of accessing a guaranteed income as early as age 59 years and six months by purchasing annuity contracts.

“A top concern among American workers is the fear of running out of money during retirement,” Anne Ackerley, head of retirement at BlackRock, said in a news release.

“And yet the industry has focused on helping people understand they need to save — but not how to manage spending in retirement, even as companies have shifted from defined benefit to defined contribution plans. With this solution, we’re rethinking retirement. And part of that was working across the industry to build something new.”

According to the release, Avangrid, Adventist HealthCare Retirement Plans and Tennessee Valley Authority Retirement System will be among the first to make the LifePath solution the “default investment option” for their employees’ defined contribution plan.

So far, 14 plan sponsors, with plans totaling $27 billion in target date assets, say they plan to make LifePath Paycheck available to 500,000 employees.

A report Thursday by CNBC on BlackRock’s offering included analysis from experts such as Dan Doonan, executive director at the National Institute on Retirement Security, who said annuity choices facing consumers are “incredibly complex.”

He predicted that BlackRock’s move will likely lead other groups to upgrade their retirement plan annuity options.

“It might look very different in 10 years,” said Doonan.

Meanwhile, recent research by PYMNTS Intelligence shows that 60% of consumers believe that retirement is out of reach for them.

That report, “New Reality Check: The Paycheck-To-Paycheck Report: The Financial Goals Edition,” found that while 42% of consumers who don’t live paycheck-to-paycheck are saving for retirement, that share drops to 28% for consumers who are living paycheck-to-paycheck without issues paying bills.

And “those numbers fall even further when it comes to paycheck-to-paycheck earners with bill pay issues, all the way to 17%,” PYMNTS wrote.

“While those numbers can’t answer whether paycheck-to-paycheck earners are giving up on retirement, it may be reasonable to assert that a portion of these consumers may simply not know how to start saving for long-term financial goals amid short-term bill pay pressures,” the report said.

The post BlackRock Intros Paycheck-Style Retirement Offering appeared first on PYMNTS.com.

Franklin Templeton tokenizes $380 million US government money fund on Polygon, Stellar

admin — Thu, 25 Apr 2024 21:36:23 +0000

Franklin Templeton has tokenized a $380 million treasuries fund on the Polygon and Stellar blockchains to enable peer-to-peer (P2P) transfers without intermediaries.

The company has launched the Franklin OnChain United States Government Money Fund (FOBXX), offering shares as BENJI tokens. Each token represents a share of the FOBXX and is tradable on the public Polygon and Stellar blockchains.

This innovation aims to simplify transactions and expand access, allowing investors to manage their assets more flexibly through direct exchanges.

Franklin Templeton’s integration of blockchain technology into its financial operations aims to enhance the liquidity and efficiency of asset management. The firm is responding to a growing demand among financial institutions to meld traditional financial structures with modern technology solutions.

The tokenization of government securities and other assets marks a significant advancement in digital asset management, offering greater transparency, security, and efficiency.

BlackRock’s BUIDL

The development positions the investment giant to compete directly with BlackRock’s tokenization efforts. The asset manager recently introduced its BUIDL fund on Ethereum in partnership with Securitize.

The fund primarily focuses on tokenizing US Treasuries, aiming to offer investors a new avenue for secure and efficient investment in government-backed securities through blockchain technology. By leveraging the Ethereum platform, the BUIDL fund ensures robust security features and broad compatibility with various digital wallets and trading platforms.

The introduction of the BUIDL fund into the market has quickly attracted attention from investors seeking innovative ways to diversify their portfolios and manage their assets with enhanced transparency and reduced transaction times.

Although the asset manager has gained attention rapidly, Franklin Templeton maintains a leading position with a 32% market share in the tokenized US Treasuries sector.

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