• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M
Short-term investors are actively channeling capital into the AI sector

Short-term investors are actively channeling capital into the AI sector

user avatar

by Eve Adams

2 years ago


The Chief Economist of BIT Mining, Yuwei Yang, noted that short-term investors in the cryptocurrency market are currently focused on assets related to artificial intelligence.

At the moment, market liquidity is limited and primarily directed towards the AI segment. This could exert additional pressure on cryptocurrencies. I expect that many digital currencies will trade in a state of consolidation in the near future, said the expert.

Senior analyst at Bitwise, Juan Leon, also shared his opinion. He believes that artificial intelligence and cryptocurrencies are closely intertwined, creating a megatrend that could attract around $20 trillion in the next decade. Experts from PricewaterhouseCoopers (PwC) agree with this forecast.

Specialists predict that by 2030, artificial intelligence and cryptocurrencies together will attract about $17.5 trillion in investments. According to their estimates, AI will dominate this process, receiving at least $15.7 trillion from investors. The race for supremacy in the AI segment is causing an unprecedented shortage of data centers, chips, and electricity.

For example, such resources are widely used in the cryptocurrency mining industry. Mining leading crypto assets requires substantial energy resources and high-performance computing chips. This month, CoreWeave, a company specializing in artificial intelligence, offered to buy the mining corporation CoreScientific.

The offer amounted to $1.6 billion, which is about 55% higher than the market value of the company. However, the management of CoreScientific rejected this proposal. It is also worth noting that high-frequency traders in the DeFi market have begun to actively use AI elements to improve their efficiency.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Bitcoin Threatens to Break Previous Monthly Cycle High

chest

Bitcoin is nearing a critical point where it may break the previous monthly cycle high of 61,359, a first in its history.

user avatarAndrew Smith

Taylor Lindman Appointed as Chief Counsel of SEC Crypto Task Force

chest

Taylor Lindman has been appointed as the new Chief Counsel of the SEC's Crypto Task Force, focusing on compliance and legal guidance for digital assets.

user avatarJacob Williams

Potential Changes in Bitcoin Derivatives Markets Following CLARITY Act

chest

Market expert MartyParty highlights that the CLARITY Act could lead to significant changes in Bitcoin derivatives markets, enhancing CFTC authority and encouraging institutional participation.

user avatarZainab Kamara

Crypto Investment Funds Face Continued Outflows Amid Market Slowdown

chest

Crypto investment funds have faced a fifth consecutive week of net outflows, totaling approximately $4 billion over five weeks, with a significant decline in trading activity.

user avatarAyman Ben Youssef

Blockchain Association Unveils New Tax Principles for Digital Assets

chest

The Blockchain Association has introduced a framework to guide lawmakers on digital asset taxation as discussions around the CLARITY Act continue.

user avatarSon Min-ho

Market Leverage Ratio Declines, Indicating Reduced Speculative Positioning

chest

The Estimated Leverage Ratio in the crypto derivatives market has sharply declined, suggesting a reduction in speculative positioning and a calmer market environment.

user avatarTando Nkube

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.