AI Crypto Economy Rebounds Strongly
The AI-focused cryptocurrency sector has experienced a significant surge in value, growing by nearly $2 billion in just under two weeks. This growth has been largely driven by the token bittensor (TAO), which has seen an impressive 86.5% increase in the last fortnight.
In the past month, the top six AI tokens have all seen double-digit percentage increases. TAO leads the pack with a striking 207% rise in the last 30 days. Following closely behind, fetch (FET) has climbed 46.34%, and covalent (CQT) has risen 41.91% against the U.S. dollar during the same period.
Other notable increases include the graph (GRT) with a 35% rise and singularitynet (AGIX) with a 28% uptick in value. On November 17, 2023, the AI-centric crypto economy was valued at $3.32 billion, marking a recovery from previous levels. This represents a $720 million increase from its low of $2.6 billion in July.
In just the last 12 days, the sector has expanded by an impressive $1.97 billion, largely driven by the rise of TAO. TAO's market value has grown from $329 million on October 29 to $1.297 billion today. Cortex (CTXC) has also emerged as a significant player, moving from the 17th to the 11th position in terms of market capitalization.
CTXC's market value has soared from $37 million to $90.62 million, with a remarkable 194.12% surge in the past month. However, not all AI-centric cryptocurrencies have fared well during this period. GOC, XMON, NEURONI, ARCONA, AMC, DX, XRT, and ALI have all recorded double-digit declines in the 30-day timeframe.
What are your thoughts on the recent rise of the AI crypto sector? Share your opinions and insights in the comments section below.
Frequently Asked Questions
What Does Gold Do as an Investment Option?
Gold's price fluctuates depending on the supply and demand. It is also affected by interest rates.
Gold prices are volatile due to their limited supply. There is also a risk in owning gold, as you must store it somewhere.
How Much of Your IRA Should Be Made Up Of Precious Metals
It is important to remember that precious metals can be a good investment for anyone. You don't have to be rich to invest in them. In fact, there are many ways to make money from gold and silver investments without spending much money.
You might also be interested in buying physical coins, such bullion rounds or bars. Shares in precious metals-producing companies could be an option. You may also be interested in an IRA transfer program offered by your retirement provider.
You'll still get the benefit of precious metals no matter which country you live in. They are not stocks but offer long-term growth.
And, unlike traditional investments, their prices tend to rise over time. If you decide to make a sale of your investment in the future, you will likely realize more profit than with traditional investments.
Can the government seize your gold?
The government cannot take your gold because you own it. It's yours, and you earned it by working hard. It is yours. This rule could be broken by exceptions. Your gold could be taken away if your crime was fraud against federal government. Your precious metals can also be lost if you owe tax to the IRS. However, even if you don't pay your taxes, your gold can be kept as property of the United States Government.
Is physical gold allowed in an IRA.
Not just paper money or coins, gold is money. People have been using gold for thousands of years to store their wealth and protect it from economic instability and inflation. Today, investors use gold as part of a diversified portfolio because gold tends to do better during financial turmoil.
Many Americans are now more inclined to invest in precious metals like gold and silver than stocks or bonds. It's not guaranteed that you'll make any money investing gold, but there are several reasons it might be worthwhile to add gold to retirement funds.
Another reason is that gold has historically outperformed other assets in financial panic periods. Between August 2011 to early 2013, gold prices rose close to 100 percent while the S&P 500 fell 21 per cent. During turbulent market conditions gold was one of few assets that outperformed stock prices.
One of the best things about investing in gold is its virtually zero counterparty risk. You still have your shares even if your stock portfolio falls. But if you own gold, its value will increase even if the company you invested in defaults on its debt.
Finally, the liquidity that gold provides is unmatched. You can sell your gold at any time without worrying about finding a buyer, which is a major advantage over other investments. Gold is liquid and therefore it makes sense to purchase small amounts. This allows you to profit from short-term fluctuations on the gold market.
Statistics
- Gold is considered a collectible, and profits from a sale are taxed at a maximum rate of 28 percent. (aarp.org)
- This is a 15% margin that has shown no stable direction of growth but fluctuates seemingly at random. (smartasset.com)
- If you take distributions before hitting 59.5, you'll owe a 10% penalty on the amount withdrawn. (lendedu.com)
- If you accidentally make an improper transaction, the IRS will disallow it and count it as a withdrawal, so you would owe income tax on the item's value and, if you are younger than 59 ½, an additional 10% early withdrawal penalty. (forbes.com)
- Contribution limits$6,000 (49 and under) $7,000 (50 and up)$6,000 (49 and under) $7,000 (50 and up)$58,000 or 25% of your annual compensation (whichever is smaller) (lendedu.com)
External Links
law.cornell.edu
- 7 U.S. Code SS7 – Designation of boards for trade as contract markets
- 26 U.S. Code SS 408 – Individual retirement accounts
wsj.com
- Saddam Hussein’s InvasionHelped Uncage a Bear In 1989 – WSJ
- Are you interested in keeping gold in your IRA at-home? It's Not Exactly Lawful – WSJ
irs.gov
cftc.gov
How To
The best place to buy silver or gold online
To buy gold, you must first understand how it works. The precious metal gold is similar to platinum. It is rare and used as money due to its durability and resistance against corrosion. It is difficult to use so people prefer to buy jewelry made from it to gold bars.
There are two types of gold coins available today – one type is legal tender, while the other is called bullion. Legal tender coins are those that are intended for circulation in a country. They typically have denominations of $1, $5 or $10.
Bullion coins are only minted to be used for investment purposes. Their value increases over time because of inflation.
They are not exchangeable in any currency exchange system. For example, a person who buys $100 worth or gold gets 100 grams. This gold has a $100 price. Every dollar spent on gold purchases, the buyer receives one gram of gold.
Next, you need to find out where to buy gold. You have a few options to choose from if you are looking to buy gold directly through a dealer. You can start by visiting your local coin shop. You might also consider going through a reputable online seller like eBay. You might also consider buying gold from an online private seller.
Individuals selling gold at wholesale prices and retail prices are known as private sellers. When selling gold through private sellers, you pay a commission fee of 10% to 15% per transaction. A private seller will usually return less money than a coin shop and eBay. This is a great option for gold investing because you have more control over the item’s price.
An alternative option to buying gold is to buy physical gold. While physical gold is easier than paper certificates to store, you still need to make sure it is safe. Physical gold should be stored in an impenetrable container, such a vault and safety deposit box to ensure its safety.
When buying gold on your own, you can visit a bank or a pawnshop. A bank can give you a loan up to the amount you intend to invest in Gold. These are small businesses that let customers borrow money against the items they bring to them. Banks charge higher interest rates than those offered by pawn shops.
Another way to purchase gold is to ask another person to do it. Selling gold is simple too. It is easy to sell gold by contacting a company like GoldMoney.com. You can create a simple account immediately and begin receiving payments.
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By: Jamie Redman
Title: AI-Focused Cryptocurrency Sector Sees $2 Billion Surge in Less Than 2 Weeks
Sourced From: news.bitcoin.com/ai-focused-cryptocurrency-sector-expands-by-2-billion-in-less-than-2-weeks/
Published Date: Wed, 29 Nov 2023 15:30:29 +0000
