The crypto market is bustling with exciting news. There are numerous cases of altcoin gains, price surges, and presales that overshoot investors’ expectations. Algotech is in the spotlight for the gains, and its new purchase of GPUs solidifies its promise to users.
Read CRYPTONEWSLAND onDespite it being an altcoin season, others like Litcoin and Near Protocol (NEAR) are struggling to gain momentum. NEAR has exciting news that could push it onto investors’ radar, and Litecoin has seen a surge in the number of new wallets, signaling positive sentiments and the possibility of a price rebound.
Algotech is putting their money where their mouth is. The platform made a promise: to use AI and revolutionize crypto trading, so traders can move past human limitations that come into play during trading. And their recent $1.2 million investment in H100 GPUs from NVIDIA attests to their resolve to make that promise a reality.
Imagine being able to better analyze and make sense of market data, or being able to spot trading opportunities quickly and execute trades more efficiently. Algotech is bringing that imagination to reality with its platform of advanced trading tools that can analyze market data, deliver real-time insight, and create automated and bespoke trading strategies, tailored to the individual needs of an investor.
With the recent investment in H100 GPUs, Algotech will be better able to deliver on its promises. With the recent investment their platform can run analysis and process trades more efficiently, with minimal human input and delays. This will help traders expedite their dealings in the speedily evolving crypto market.
Algotech’s H100 GPU investment is also gaining the spotlight among investors and the entire crypto community. The presale of its ALGT token is in the last stage and has already racked in $5.9 million. The price of the token is expected to hit $1 in no time after it gets listed on exchanges.
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The gains by Algotech appear to be in sharp contrast to the reality Litecoin (LTC) is faced with. Despite the Ethereum spot ETH approval by the SEC, which had initially sparked a bullish surge in the market, Litecoin has been unable to gain momentum and has even had its price dip by 8% between the last 10 days of May.
The crypto market is in a consolidation phase, and investors’ preference has been Ethereum and other tokens built on the ETH DeFi network, leaving Litecoin to struggle to maintain steam.
The coin has formed a bearing flag pattern, and investors are seeing this as an opportunity to get in and capitalize on the deep. Available data shows that there was 8.17 million LTC wallets as of May 21, but that number has risen sharply to more than 8.21 million LTC wallets as of the time of writing.
This signals a possible watershed moment in the price of Litecoin. With an overwhelmingly positive sentiment within the ecosystem despite the price dip, if this significant network growth continues, Litecoin may be poised to make a surprising rebound.
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Near Protocol is a decentralized app-building platform and an Ethereum competitor. Near Protocol is a viable competitor since it was designed with user-friendliness in mind, and offers developers fast confirmation time and low transaction cost. The platform has its native token, NEAR, which can be used to pay for storage and transaction fees on the Near Protocol platform.
The platform has been on the news lately with products and innovations that are aimed at disrupting the space.
Recently the platform’s founder Illia Polosukhin disclosed the plan to unveil an AI agent that will help even nontechnical users to code decentralized applications (DApps). This is in line with the company’s vision to make creating decentralized apps easier for users.
Also, in a recent tweet on X, the Near Protocol company unveiled what it called the “NEAR name tokens,” aimed at providing a robust digital identity solution that will benefit Web3 users.
Despite this news, the NEAR token has seen its trading volume fall by 13.5%, signaling that there’s been a fall in market activities. The yoke price has gone down by 4.4%, which signals that NEAR is underperforming when compared to both the entire crypto market and Layer 1(L1) cryptocurrencies. The global crypto market and L1 cryptocurrencies have been up by 0.40% and 0.50% respectively.
But with the exciting new products, it will only be a matter of time and we’ll see if NEAR will gain momentum and see a rebound in price trend.
Learn more on AlgoTech’s Presale:
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