Latest news with #DeXe
Mint
7 days ago
- Business
- Mint
Bitcoin price today: Token slips below $105k before slight recovery, experts say bulls passive amid wider uncertainty
Bitcoin price today: The world's largest cryptocurrency, Bitcoin's price, slipped below the psychological $1,05,000 level today on May 30, before recovering slightly, data on CoinMarketCap showed. At time of writing, the token was at $105,795.12, down 1.90 per cent compared to the previous day, and below the recent all-time highs of $1,10,000 seen last week. Further, market capitalisation of Bitcoin is also down 1.92 per cent to $2.1 trillion, while trade volume have increased 16.28 per cent in sell-off to $58.84 billion worth, according to data on CoinMarketCap. At $2,621.35, down 3.94 per cent from the previous day, Ethereum shed 3.90 per cent market cap to $316.46 billion. It has however remained above the $2,600 psychological level. CoinDCX Reserach noted that the top gainers include DeXe with over a 14 per cent rise, followed by SPX6900 with over a 3 per cent increase. And top losers are Uniswap, which plunged 14 per cent; Optimism, by 13.33 per cent; Arbitrum & Pudgy Penguins, by 13 per cent each; and Pepe & Pyth Network, by over 11 per cent each. According to the CoinDCX research team, crypto markets continue to plunge as bulls remain passive. The crypto market drag has also negatively impacted other tokens such as XRP, Solana, Cardano, and Shiba Inu, etc. 'With the latest price plunge, more than $345 million has been liquidated from the markets in the past few hours,' it observed. Further, Riya Sehgal, Research Analyst at Delta Exchange noted, 'the crypto market is experiencing increased volatility, with a 2.43 per cent drop in market cap to $3.35 trillion and a rise in 24-hour volume to $184.7 billion amid $725 million in liquidations.' 'Macroeconomic uncertainty persists, driven by stalled US-China trade talks and a US court blocking tariffs. Bitcoin recently hit a 9-day low near $104,725, trading below its 50 and 200 SMAs, signaling short-term bearish pressure unless it breaks above key resistance levels. Ethereum and altcoins like Cardano and Dogecoin also saw declines,' she added. Edul Patel, co-founder and CEO of Mudrex feels that Bitcoin 'is consolidating amid geopolitical uncertainty, as stalled US–China trade talks bring back trade war concerns'. '… macroeconomic pressures such as higher-than-expected US jobless claims and a 0.2 percent GDP contraction in Q1 2025 have added to short-term market caution,' he added. Sehgal however noted that strong institutional demand persists, highlighted by a record $6.22 billion inflow into the iShares Bitcoin Trust ETF in May. And Patel concurred, 'Institutional confidence remains strong, with $432 million flowing into spot Bitcoin ETFs, helping in price recovery. Currently, BTC need to reclaim the $108,000 levels for sustained momentum. On the flipside, if we do not get follow-through buying, Bitcoin could test the $103,700 levels.' Key Takeaways Bitcoin's recent dip highlights the ongoing volatility in the cryptocurrency market. Institutional investments are continuing to flow into Bitcoin, indicating underlying confidence despite short-term price declines. Macroeconomic factors are significantly impacting crypto prices, with geopolitical tensions and economic indicators contributing to market uncertainty.
Associated Press
30-04-2025
- Business
- Associated Press
Kava AI Tops 100k Users, Sets Stage for AI Agent to Automate Complex DeFi Strategies
Upgraded blockchain-native AI enables DeFi execution impossible for centralized models, with autonomous agents rolling out and privacy-preserving features baked in. A new alliance with DeXe promotes transparent, community-governed decentralized AI. SAN FRANCISCO, CA / ACCESS Newswire / April 30, 2025 / Kava, a global pioneer in decentralized blockchain solutions, today announced the release of a major update to its artificial intelligence platform, Kava AI, featuring an independently optimized, blockchain-native AI model. Marking a significant milestone, the updated Kava AI has already surpassed 100,000 users, becoming the most widely adopted decentralized blockchain-native AI. Unlike traditional centralized AI services, Kava AI leverages a fully decentralized, blockchain-native architecture built upon an independently optimized open-source model. Through targeted enhancements, Kava AI achieves exceptional performance in blockchain-centric operations-ranging from crypto tasks and smart contract interactions to complex decentralized finance applications. 'This is a groundbreaking moment for blockchain, artificial intelligence, and the potential unlocked with stacking these technologies,' said Scott Stuart, Co-Founder of Kava. 'We've created an AI model that is truly decentralized, open-source, and transparent - built from the ground up for the blockchain ecosystem. Surpassing 100,000 users is a powerful validation that this approach resonates deeply and delivers real value. Decentralized AI isn't just a concept; it's here now, and it's thriving.' To complement this powerful foundational intelligence, Kava also announced a major update to Kava AI today at Token2049 Dubai. Building upon Kava AI's advanced general reasoning capabilities akin to a decentralized ChatGPT optimized for blockchain, the significant upgrade delivers an AI-powered execution layer for DeFi built to unlock the next wave of alpha opportunities. It acts as a frontend interfacing with various protocols across the Web3 ecosystem. Kava AI's enhanced execution capabilities are designed around several key functionalities planned for phased rollout. Future iterations will leverage its AI-powered intelligence to aggregate insights from multiple protocols across leading blockchains, providing a strategic edge with relevant, real-time data to help traders spot alpha opportunities first. Once an opportunity is identified, Kava AI is designed to act as an execution layer for simple and secure DeFi access, enabling seamless interactions like swaps, lending, and staking across various chains. Furthermore, the roadmap includes utilizing autonomous AI agents for always-on optimization, automating execution, refining strategies, and streamlining complex DeFi actions efficiently, 24/7. These advanced autonomous features are slated for release later in 2025, demonstrating how one protocol, covering multiple chains, can ultimately work with full automation. 'With Kava AI providing blockchain-native intelligence and delivering the seamless execution layer, we are creating a powerful synergy,' continued Scott. 'Users need both sophisticated understanding and the ability to act decisively in DeFi. This major update unlocks the practical power of Kava AI for advanced crypto tasks, making DeFi interactions smarter, faster, and automated. This ecosystem approach-transparent intelligence paired with effective execution-is the future. It is fundamentally about trust, respecting privacy, ensuring data sovereignty, and operating transparently - this is what it looks like to build AI technology responsibly.' To further strengthen the decentralized AI ecosystem, Kava also announced a strategic partner in DeXe, a leading DAO infrastructure provider specializing in decentralized governance. The two organizations share a vision for building open, community-governed AI systems and are aligned on a path toward future collaboration, including future technical integrations and co-developed solutions. 'We're at a pivotal moment where AI governance will shape its societal impact for generations. At DeXe, we believe the future lies in open, decentralized systems that align technology with the public good,' said Serhii Kravchenko, Core Contributor at DeXe DAO. 'Our partnership with Kava unlocks AI's full potential through DAO infrastructure, creating systems that are transparent, fair, and community-driven.' This growing ecosystem, further strengthened by collaborating with DeXe, is built upon the tangible success and unique features of Kava AI itself. Key factors propelling this success include unique, culturally resonant user experiences-particularly in the Asia-Pacific region, coupled with its user-friendly interfaces and uncompromising commitment to privacy. With distinct control settings built directly onto the blockchain, people will choose between a fully anonymous experience, a streamlined free option, or premium enhanced features accessible via crypto payments, all without sacrificing security or decentralization. Unlike other open-source models that route user data through centralized jurisdictions-such as DeepSeek, which directs user information through servers in China with minimal protections-or centralized U.S.-based providers that offer limited transparency and control, Kava AI uniquely combines data sovereignty, transparency, and user-driven privacy. Users maintain control over their data, selecting between fully anonymous interactions or synchronized experiences with clear consent, protecting privacy. Additionally, because Kava AI is open-source and blockchain-native, every model update is developed with direct community involvement. This ensures trust and empowers people around the world to influence and shape the direction of their artificial intelligence experience. Today's dual announcements at Token 2049-highlighting Kava AI's significant user adoption and the launch of the Kava AI DeFi execution layer-represent more than an achievement for Kava alone. They signify a meaningful shift in how AI can be developed and delivered, showcasing that powerful, scalable artificial intelligence does not need to rely exclusively on centralized infrastructure. By showing how a decentralized AI ecosystem can provide both superior intelligence and effective execution, Kava has opened a new chapter in the evolution of both blockchain technology and artificial intelligence. To learn more about Kava AI's breakthrough decentralized model and the Kava ecosystem, visit About Kava Kava is a decentralized blockchain platform merging the speed and interoperability of Cosmos with the powerful developer ecosystem of Ethereum, dedicated to leading the global transition to Web3. Supported by over 100 active validators and home to more than 125 decentralized applications (dApps), Kava enables secure asset management, processing billions of dollars in on-chain transactions. With programs like Kava Rise, an incentive-driven developer initiative, Kava fosters a dynamic multi-chain environment where creators and developers of all sizes can launch, scale, and grow innovative crypto projects. Kava remains committed to open innovation through initiatives including Kava AI, its foundational blockchain-native, decentralized artificial intelligence platform emphasizing transparency and privacy, and now its AI-powered execution layer for DeFi. By integrating advanced artificial intelligence capabilities across general reasoning and Web3 execution within its proven blockchain infrastructure, Kava AI stands at the intersection of DeFi, AI, and multi-chain interoperability. Kava empowers developers, creators, and everyday users to harness the transformative potential of decentralized technology. For more information, visit Media Contact: Justin Mauldin Salient PR [email protected] 737.234.0936 SOURCE: Kava press release
Yahoo
01-04-2025
- Business
- Yahoo
Some Crypto Tokens Plunge 50% Within Minutes on Binance Amid Suspected Trading Bot Glitch
Multiple tokens cratered as much as 50% within 30-minutes on crypto exchange Binance on Tuesday, with market watchers wondering if a misconfigured trading bot could have caused the declines. Act I, the Prophecy (ACT) slumped 50%, DeXe (DEXE) dropped 30% and dForce (DF) fell nearly 20% within minutes after 1031 UTC on Tuesday, data from Binance shows, with no immediate catalyst or explanation behind the sudden fall. The drop led to $6.28 million worth of longs being liquidated on ACT-tracked futures across exchanges, Coinglass data shows, with a single trader hit with a $3.2 million liquidation. Meanwhile, HIPPO, BANANA31, TST and LUMIA posted similar declines shortly after 1100 UTC, though not as large as ACT, with dips in some tokens like KAVA getting quickly purchased by fast-fingered traders. The tokens are not related or in the same sector. Data showed a surge in selling volumes roughly around the same time, with no other tokens on Binance seeing similar spikes in selling volumes. The stage for volatility was likely set by Binance's announcement at 10:30 UTC, which introduced changes in leverage requirements and margin tiers for perpetual contracts for several tokens, including ACT/USDT. The announcement said the new rules will be applicable to existing positions. That likely spurred position adjustments by trading bots, leading to price volatility in perpetuals, which quickly spilled over to spot prices. The cascade spread over to other exchanges, with these tokens down equivalent amounts on other centralized exchanges as well as on decentralized exchanges. Early reactions on X ranged from surprise to speculations of a market-making bot possibly causing the declines due to a misconfiguration on how they trade, though CoinDesk could not independently confirm the allegations as of writing time. "Seems someone has been hacked or banned or idk," Andrei Grachev, founder at DWF Labs said on X. "Otherwise I cannot explain why too many unrelated assets dumped." "Even though the update was on perps, the impact spilled into spot. Traders using cross-margin setups or running arb strategies were likely forced to unwind both sides. Panic from the perp cascade also spread, algos and discretionary players alike started exiting spot just to stay ahead of the move," pseudonymous observer Game said in an X post. UPDATE (April 1, 12:00 UTC): Adds additional details and background. UPDATE (April 1, 12:18 UTC): Adds details on Binance changing leverage requirements. Sign in to access your portfolio
