Day: January 27, 2024

GBTC outflows slow, signalling possible rebound; $GFOX set for major rally

Available data and expert submissions show Grayscale’s Bitcoin Trusts (GBTC) outflows are trending down, suggesting that the dumping spree may soon end.

Although the outflow number is still considerably large, a rebound looks to be on the horizon for $BTC prices, and investors’ confidence is gradually returning. Galaxy Fox holders also expect a significant rally from the meme coin post-presale. The meme coin has performed impressively in its ICO phase, and observers expect more in its retail phase. 

Galaxy Fox sets for retail exchange debut 

Galaxy Fox is a new token on the rise. The multi-utility token aims to dominate the crypto space and yield profit for investors while at it. Galaxy Fox will be a beneficial currency in web3 space. It will play vital roles on numerous web3 platforms while overseeing everything in its ecosystem. The purchase-worthy meme coin has shown a glimpse of its profitability on presale, and many expect it to keep the momentum going. 

Galaxy Fox is heading towards its retail phase with many expectations from crypto enthusiasts. The meme coin’s outlook holds much promise and will live up to them. With a well-founded prize pool and Stargate, Galaxy Fox will allow users to earn from its ecosystem via the P2E mechanism and token staking features. Holders will also be able to explore web3 opportunities with $GFOX,

Early and late $GFOX adopters will likely gain from the meme coin in the coming months. The presale is nearing incredible milestones, leaving it on the verge of completion. Galaxy Fox has smashed $3 million, with over 92% of its stage 7 token allocation sold. The next stage will commence, and it’s expected to sell faster and at a higher token price. Hence, the best time to join the $GFOX presale is now. The meme coin’s features indicate it’s a token with excellent prospects, and investors will find it profitable.

Grayscale’s Bitcoin Trusts (GBTC) outflow reduction sparks optimism 

$BTC ETFs trading commenced the second day after approval, and the trading volumes have been impressive. Major concerns have been about high outflows, especially from GBTC. Grayscale Bitcoin Trusts (GBTC) outflows are about 106,092 $BTC since the commencement of ETF trading, amounting to approximately $4.4 billion over nine trading days. 

The high numbers have impacted $BTC’s price negatively, prompting investors to lose trust in the cryptocurrency. However, recent developments show that Grayscale selling volume is gradually reducing. Data from BitMEX indicates GBTC outflows slowed for two consecutive days and had its smallest daily outflow since trading commenced on January, 24. The $429 million outflow was about 33% lower than GBTC’s sell-out at the start of the week. 

This event has prompted predictions of a possible $BTC rebound, with many industry experts airing their opinions. Eric Balchunas believes that while GBTC outflows are still large, the seeming downtrend is a sign that the mass exodus is gradually reducing. However, Eric states there are ‘too many unknowns’ to determine exactly when the massive sell-out will stop. 

James Mullarney, another market expert, also shared his opinion on the issue. He believes the significant reduction in Grayscale’s selling activities indicates a possible change of strategy by GBTC, calling it a positive sign for the crypto market. The experts believe the decrease in Grayscale’s outflows could spur $BTC’s price stability and bring back investors’ confidence. This means a $BTC recovery rally is imminent, and the top cryptocurrency will be back on track to break into the $50,000+ price level weeks from now.

Conclusion 

The reduction in GBTC’s daily outflows indicates an imminent end to the mass exodus on the $BTC ETF. Experts believe this will positively affect the cryptocurrency’s price movement. Thus, investors are optimistic about a possible BTC rebound. Similarly, Galaxy Fox is readying for a major surge as it nears its retail phase. The altcoin has shown great promises on presale, and it looks poised to live up to them. Hence, investors looking to improve their financial standings this year can consider joining the presale immediately. 

To learn more about $GFOX, visit the Galaxy Fox Presale or Join the Community.

The post GBTC outflows slow, signalling possible rebound; $GFOX set for major rally appeared first on CoinJournal.

Aleph.im launches Twentysix Cloud: An enhanced marketplace for Decentralized Cloud Computing

Paris, France, January 26th, 2024, Chainwire

Twentysix Cloud is an all-in-one, decentralized cloud marketplace, powered by aleph.im’s Decentralized Physical Infrastructure Network (DePIN). This launch marks a significant step in bridging decentralized cloud solutions with the growing demand for computing resources.

Aleph.im announces the launch of its innovative hub. Twentysix Cloud is a decentralized cloud marketplace offering a full range of blockchain-based storage, compute engine, indexing, and AI solutions for businesses and applications. By leveraging the aleph.im network, Twentysix Cloud ensures a secure, resilient, and transparent user experience. It sets a new standard for modern cloud infrastructures, utilizing tens of independent nodes worldwide.

The decentralized design of Twentysix Cloud meets the evolving needs of businesses and developers. It provides a versatile environment for a wide range of applications, empowering users through a robust architecture that seamlessly connects on-chain and off-chain data, eliminating centralized points of failure.

Twentysix Cloud now operates on a Pay-As-You-Go (PAYG) model, offering users the flexibility to pay only for the resources they use. This approach leads to lower costs due to the distributed nature of resources. Payments can be made in ALEPH, the native token of the network, or in stablecoins. This system, which charges by the millisecond, leverages Avalanche C-chain and Superfluid for optimal payment solutions.

Twentysix Cloud is enhancing its integration with EVM blockchains like Avalanche to facilitate global streaming payments. This enhancement enables a seamless Pay-As-You-Go payment system that operates effortlessly across node operators, who contribute to maintaining and securing the network independently.

Jonathan Schemoul, co-founder and CEO of aleph.im, shared, “Twentysix Cloud offers a wide range of products for companies who wish to use an alternative solution to traditional cloud services. Until today, our users needed to hold or stake tokens to use our solutions. With the introduction of our Pay-As-You-Go model, we’re excited to onboard more businesses and developers, providing easy access to a full Web3 cloud platform. Our product will incorporate DeFi components to facilitate stablecoin transactions and include fiat gateways to enhance ease of use.”

Jonathan added, “Our mission is to contribute to the open-cloud industry as a whole and drive innovation across the space, providing new ways to build, deploy, and scale more effective models for AI. By opening this technology, we are offering decentralized AI’s virtual agents and conversational AI products to all who wish to use it, in a confidential way.”

In addition to its advanced capabilities, Twentysix Cloud and aleph.im are GDPR compliant. This ensures that stakers’ personal data remains secure, and they retain ownership of their uploaded documents and metadata. These are stored on Twentysix Cloud’s decentralized storage across 80+ core channel nodes, and 250+ compute resource nodes.

About Twentysix Cloud

Twentysix Cloud is a cross-chain cloud solution powered by the aleph.im decentralized network, which offers developers access to databases, computing power, and file storage. It ensures operational resilience for applications, particularly in AI, DeFi, and gaming industries. Since 2020, its marketplace Instances and Micro-Virtual Machines have provided scalable, high-performance resources across various blockchains.

About aleph.im

Aleph.im is a decentralized physical infrastructure network that enables developers and businesses to build applications with robust features thanks to a system of connected nodes responsible for the security and functionality of the peer-to-peer network. Core Channel Nodes (CCN) play a pivotal role in network control and governance, while Compute Resource Nodes (CRN) are designed to provide distributed secure computing power, and storage, ensuring better privacy, security, and control over their data and applications.

For more information:

Twentysix cloud Twitter
aleph.im Twitter
Global Telegram account
Linkedin

 

Contact

Head of Marketing
Clément Fermaud
Aleph.im / Twentysix Cloud
clement@aleph.im

The post Aleph.im launches Twentysix Cloud: An enhanced marketplace for Decentralized Cloud Computing appeared first on CoinJournal.


Verified by MonsterInsights