IOT

Chainlink (LINK) pumps 26% in 6 days — Is there room for more?

November 8, 2023 Coin Telegraph

LINK token continues to strengthen as professional traders and enterprise solution clients enter Chainlink’s ecosystem.

Chainlink's (LINK) token has experienced a remarkable 26% surge between Nov. 2 and Nov. 8, approaching $14, a level not seen since April 2022. This solidified its position as the 10th largest cryptocurrency (excluding stablecoins) by market capitalization.

While the price action is a welcome sight for traders, is Chainlink's current valuation of $8.1 billion justified? Cointelegraph research shows that the impressive price surge is driven by expectations of real-world asset (RWA) tokenization and initial signs of institutional adoption. However, let's delve deeper to assess the sustainability of the current rally.

Spot Bitcoin ETF expectations and real world asset tokenization boost sentiment

Bloomberg's ETF strategists, James Seyffart and Eric Balhunas, issued a research note on Nov. 8, which has boosted the confidence of cryptocurrency traders.

New Research note from me today. We still believe 90% chance by Jan 10 for spot #Bitcoin ETF approvals. But if it comes earlier we are entering a window where a wave of approval orders for all the current applicants *COULD* occur pic.twitter.com/u6dBva1ytD
— James Seyffart (@JSeyff) November 8, 2023

In their note, they explain that the window for approving a Bitcoin spot exchange-traded fund is set to open on Nov. 9, as the U.S. Securities and Exchange Commission concludes its latest round of postponements.

Seyffart maintains a 90% likelihood of approval, but cautions that the regulator's final decision may be delayed until mid-January.

Altcoins have also seen notable price increases in the past seven days, with Trust Wallet Token (TWT) surging by 41%, Immutable X (IMX) by 29%, and NEO by 28%. LINK's appreciation is indicative of the positive sentiment towards altcoins, particularly following Bitcoin's (BTC) apparent stagnation around the $35,500 mark.

Within the Chainlink's ecosystem several positive developments have contributed to the LINK’s recent performance.

On Nov. 7, Vodafone, a major European and North Africa-based telecom company, officially launched its partnership with the Japanese financial conglomerate Sumitomo Corporation, utilizing Chainlink oracles to facilitate transactions and offer diverse applications, including electric vehicle charging stations and toll roads.

This digital platform, known as Pairpoint, enables vehicles and devices to autonomously interact and trade in the emerging Internet of Things (IoT) landscape. Pairpoint leverages Vodafone's existing digital assets platform and has full integration with partners such as MasterCard, HSBC, Deloitte, and IBM.

Apart from IoT, a broader trend appears to be favoring Chainlink's oracle solution. RWA tokenization is poised to become mainstream, as evidenced by HSBC's launch of custody services for regulated securities on Nov. 8.

HSBC's Zhu Kuang Lee has noted the increasing demand for custody and fund administration of digital assets from asset managers and owners. HSBC's press release indicates that the custody service will complement its HSBC Orion platform for issuing digital assets and a recently introduced tokenized gold offering. It's also worth mentioning that HSBC manages approximately $3 trillion in assets globally.

Professional traders’ increased demand for LINK token

Despite the promising future prospects, traders are questioning whether there have been substantial institutional inflows into Chainlink to support the 26% rally in just six days. Unfortunately, there is no foolproof metric to gauge this, but Grayscale's Chainlink Trust (GLNK) presents an optimistic perspective, despite its relatively modest $3.9 million in assets under management.

This over-the-counter instrument is traded through regular stock market brokers, making it accessible to asset managers who cannot directly invest in cryptocurrencies. Notably, GLNK's price is trading at a 320% premium compared to the proportional underlying LINK token holdings held by the fund, indicating robust buying demand.

*Grayscale Chainlink Trust (GLNK) premium vs. LINK. Source: Coinglass*

Further fueling Chainlink's impressive gains is the listing of LINK on the HashKey exchange, a licensed trading platform catering to professional investors in Hong Kong. Although it launched in August 2023, the exchange is affiliated with the same group behind HashKey Capital, a prominent digital asset venture investment firm founded in 2015.

From an on-chain metrics perspective, Chainlink's price surge is supported by increased network activity.

*Chainlink 1-day transaction count. Source: Messari/Coin Metrics*

Notably, the most recent peak occurred on Nov. 7, 2022, coinciding with issues at the now-defunct FTX exchange. Excluding this specific instance, the current two-day average of 7,700 daily Chainlink transactions is the highest since June 2021.

While some valid criticisms have been raised regarding Chainlink's excessive centralization, its oracle dominance remains unchallenged. Consequently, any tailwind for the RWA market should likely have a positive impact on LINK's price, paving the way for further price hikes above $14.

This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

Bosch partners in $100-million Web3 development foundation

February 21, 2023 Coin Telegraph

Bosch partners in 0-million Web3 development foundation

Global technology firm Bosch partners in the launch of a new foundation, committing $100 million to a Web3, AI and IoT grant program.

$100 million is being earmarked for a grant program funding the development of Web3, artificial intelligence (AI) and decentralized technologies in a partnership between Bosch and Fetch.ai.

The two companies are collaborating to create the Fetch.ai Foundation, which will aim to fuel industrial adoption of innovative software, AI and Web3 technologies. The initiative will fund research and develop decentralized technologies for real-world use cases.

The program will provide $100 million in grants to fund the long-term development of Web3-based solutions and services for the mobility, industrial technology and consumer industries. An announcement shared with Cointelegraph indicates that the grant program will invest in select companies and partners over a three-year period.

Fetch.ai is a Cambridge-based artificial intelligence firm developing a decentralized machine learning network that has worked alongside the global engineering and technology company Bosch. The latter provides a host of Internet of Things (IoT) solutions and notes that a strategic objective is to facilitate the development of AI-powered products and appliances. It is also exploring Web3 technologies as part of this ongoing endeavor.

The Fetch.ai Foundation board will feature members from both Bosch and Fetch.ai and will look to fund specific businesses and companies in the industrial AI space. Fetch.ai Foundation chairperson Peter Busch said Bosch is interested in harnessing developing technologies:

“Bosch as one of the worldwide leaders in industrial engineering and mobility solutions sees the huge need for smarter technologies and governance to cope with the challenges coming with ever more connected ecosystems regarding safety/security, privacy, and data ownership.”

Busch said that the combination of Web3, AI and open-source technologies with classic engineering is a key driver of the foundation’s mission through its grant program. Bosch and Fetch.ai first partnered up in February 2021 to launch a multi-purpose blockchain network focused on Web3 capabilities incorporating AI and IoT.

Helium Network Migration to Solana Blockchain in March Drives Significant Gains for SOL and HNT Tokens

February 20, 2023 Bitcoin.com

10 emerging technologies in computer science that will shape the future

February 16, 2023 Coin Telegraph

5G Networks

Discover 10 emerging technologies in computer science that are set to shape the future, including quantum computing, extended reality and robotics.

Technology is a powerful force that has significantly influenced the future. It has enriched our lives in innumerable ways, from boosting productivity and efficiency to bridging geographical distances. Artificial intelligence (AI), machine learning (ML), robotics and 5G networks are reshaping industries, opening up new applications, and altering our way of life.

For instance, precision medicine is enabling patient-specific therapies, and driverless vehicles promise to decrease traffic accidents and increase mobility. However, technology poses new problems such as employment displacement and cybersecurity concerns, but with good planning and management, technology can continue to advance and help create a better future for everyone.

Here are 10 emerging technologies in computer science that will influence the future.

Artificial intelligence and machine learning

AI and ML are changing the way people interact with technology. They’re driving automation, creating intelligent systems, and enabling new applications in fields such as healthcare, finance and transportation.

Moreover, artificial intelligence and machine learning can be used on blockchains for various purposes, such as fraud detection, risk assessment and predictive analytics. AI and ML algorithms can analyze large amounts of blockchain data to detect suspicious activity and anomalies and make predictions about future trends. They can also be used to automate certain processes, such as smart contract execution and asset management.

Quantum computing

The promise of quantum computers is that they will be able to tackle issues that traditional computers cannot. They use quantum bits (qubits) to carry out calculations concurrently and exponentially more quickly than conventional computers.

One potential use case of quantum computers is in the field of cryptography, where they could be used to break certain types of encryption that are currently considered secure on classical computers. It is because quantum computers are capable of doing some calculations significantly faster than conventional computers.

Blockchain technology

Blockchain technology’s primary use case is the creation of decentralized and secure digital records that can be used for various purposes. One of the most well-known applications of blockchain technology is in the creation of cryptocurrencies like Bitcoin (BTC), which are digital assets that can be used as a medium of exchange

As blockchains provide trustless and decentralized systems, they enable secure and more effective transactions, particularly in banking, healthcare and supply chain management.

Internet of Things (IoT)

IoT refers to the process of connecting physical objects to the internet so they can communicate and collect data. It has applications in fields such as manufacturing and healthcare and can be found in smart homes and wearable technology.

An @Accenture research finds that most managers consider the Internet of Things a strategic factor in improving products, increasing revenues, and optimizing human resources effectiveness. #Infographic rt @antgrasso > #IoT #IIoT #FutureofWork #Automation pic.twitter.com/2oMSs3nfgz
— Edge Technology News (@NewsEdgetech) February 10, 2023

Biometrics

Biometrics involves the use of physical or behavioral characteristics, such as fingerprints or facial recognition, for identification and authentication. It has potential applications in areas like banking, healthcare, metaverses and law enforcement.

5G networks

The next generation of wireless networks, or 5G networks, offers higher speed and reduced latency than 4G networks. They have the potential to enable new applications like remote surgery and smart transportation systems.

#5G technology is expected to revolutionize online #gaming in India, the second largest #telecom market, by enabling #cloudgaming and advanced technologies like #AR and #VR with the increased speed and bandwidth of #5Gnetworks, @timesofindia.https://t.co/Ij6ud6wLUH pic.twitter.com/rmrJMbeizS
— Samsung Networks (@SamsungNetworks) February 14, 2023

Augmented reality (AR) and virtual reality (VR)

Augmented reality and virtual reality have the potential to enhance the user experience in various fields, including gaming, education, training and entertainment. Users can interact with digital things in the actual world using AR technology, for instance, and can completely immerse themselves in a virtual environment using VR technology.

AR and VR can be applied to improve customer contact and engagement with goods and services. For example, AR can be used in the retail sector to create virtual product displays, while VR can be utilized in the travel sector to generate virtual tours of locations.

Edge computing

Instead of delivering data to a central server, edge computing processes it at the network’s edge. This makes it ideal for applications like self-driving cars and smart cities because it can result in quicker processing times and less network congestion.

Edge computing is well-suited for self-driving cars because it allows for real-time processing of the vast amounts of data generated by the car’s sensors and cameras. It can process this data locally, at the “edge” of the network, allowing the car to make faster and more accurate decisions, improving safety and reliability. Additionally, edge computing can enable self-driving cars to function even in areas with poor connectivity because it can operate independently of the cloud.

Extended reality (XR)

XR, which encompasses virtual, augmented and mixed reality technologies, has the potential to shape the future of work in several ways:

Remote collaboration: Remote collaboration is made easier with the use of XR technology, even when team members are located far. Remote teams can collaborate in a shared virtual workspace using virtual reality and augmented reality, which offers a more immersive experience than video conferencing.
Training and education: XR can be utilized to create immersive learning environments that let students hone their abilities in a secure setting. This can be especially helpful in industries like manufacturing or medicine, where VR and AR can be used to imitate operations and provide on-the-job training, respectively.
Design and prototyping: XR technology can also be used for product design and prototyping. For instance, virtual prototypes can be made with VR, enabling designers to view and test their concepts in a 3D environment.
Customer engagement: More immersive experiences for customers can also be offered through XR. While VR can be used to offer virtual tours of real estate properties or travel locations, AR can be utilized to create interactive product displays.
Accessibility: XR technology can make certain work experiences more accessible to people with disabilities. For those who are unable to travel du to physical restrictions, VR can be used to create virtual travel experiences.

Robotics

Robotics involves the design, construction and operation of robots that can perform tasks autonomously or with human guidance. Although robotics has been employed in manufacturing and logistics, it has potential uses in industries, including healthcare, agriculture and exploration.

The use of autonomous drones for crop monitoring and management is one example of how robotics is used in agriculture. These drones may be fitted with cameras and sensors to gather data on crops, such as growth rates, soil moisture content and plant health.

Machine learning algorithms can then be used to examine this data in order to improve crop management techniques like the application of fertilizer and pesticides. Drones can also be used to plant and harvest crops, lowering the demand for manual labor and boosting productivity. Overall, robots have the promise of enhancing agricultural production and sustainability while decreasing costs and raising yields.

Big Four Company EY Takes Wavespace Utility to the Metaverse

November 1, 2022 Bitcoin.com

Two Ethereum-Based Altcoins Jump After Crypto Exchange Coinbase Announces Support

August 31, 2022 The Daily Hodl

$100M fund aims to support the growth of decentralized machine economy

March 16, 2022 Coin Telegraph

Coin Telegraph

The IoTeX Foundation will examine all DApp developers thoroughly to ensure that they effectively enable machine financialization.

IoTeX, a blockchain platform focused on the Internet of Things (IoT), has announced the launch of a $100 million sustainable ecosystem fund.

The new fund will back over 1,000 decentralized machine economy startups developing use cases for connecting more than 10 million smart devices to the MachineFi portal within the next three years.

The decentralized machine economy is a developing economy in which machines, rather than people, are the driving force behind economic growth. This new economy is powered by blockchain technology and artificial intelligence (AI), and it has the potential to create a more efficient, secure and sustainable way of doing business.

MachineFi refers to a new paradigm based on Web3 that underpins the new machine economy. Machine resources and intelligence can be monetized to provide value and ownership to individuals rather than centralized corporations. Simply put, MachineFi may be described as the financialization of machines or, more precisely, internet-connected gadgets.

MachineFi's goal is to take the profits generated by device-financialization from big-tech and distribute them to actual users, which is precisely what web 3.0 is all about: altering the internet (and now devices) financial model from platform advertising to user ownership.

IoTex’s Head of Investment and Ecosystem Jing Sun explained that the fund is designed as an ever-green vehicle that may support over 10,000 MachineFi-focused businesses in the next ten to 20 years, connecting tens of billions of devices to the IoTeX MachineFi portal.

The IoTeX Foundation will examine all DApp developers thoroughly to ensure that they effectively enable machine financialization and, if successful, “they will receive all the support they need to be successful,” Sun explained.

In Nov. 2021, IoTeX rebranded to concentrate on "The rise of MachineFi" in order to integrate machines, the Metaverse, and the traditional workforce. MachineFi aims to tackle the confluence of smart gadgets, machinery, and finance through the use of blockchain technology and follows the era of DeFi and GameFi.

Helium partners with Dish Network to expand its crypto-based distributed 5G platform

October 26, 2021 Coin Telegraph

Coin Telegraph

Helium announces a new partnership with Dish Network, which will further extend its 5G network in exchange for HNT rewards.

The ultimate goal of any cryptocurrency project is to achieve widespread adoption by offering a use case that offers real-world value that can be applied in every home across the globe.

Thanks to its user-run wireless network, Helium, a 5G Internet-of-Things-focused project, made a significant stride towards greater adoption as it revealed a new partnership with Dish Network on Oct. 26.

Today we take another huge step for @Helium 5G with the announcement of a new partnership between @DISH and Helium Inc! DISH is the first major carrier to join #ThePeoplesNetwork, expanding coverage with customers deploying 5G Hotspots.

Read the blog: https://t.co/FjVsnd7zXv.
— Helium (@helium) October 26, 2021

According to the announcement, the partnership will offer Dish Network subscribers the opportunity to run Helium nodes and earn HNT token rewards for sharing their 5G wireless service with those in their area.

This marks the first major carrier to integrate the Helium 5G network into its ecosystem and is a significant sign of validation for the project and its technology.

In comments with Decrypt media, Helium COO Frank Mong elaborated on the partnership and what it means for the future of the Helium network.

Mong said,

“Dish understands the potential blockchain can have on the wireless industry, and as the first major carrier to join The People's Network, this partnership is real validation that the HNT incentive model is a powerful tool for deploying infrastructure at scale. Together with Dish and FreedomFi, Helium 5G will have a much broader reach where the customer benefits from the flywheel of network incentives and the applications it enables.”

The Helium network sees exponential growth

The Dish Network partnership is the latest in a busy year of growth for the Helium network, which now has more than 256,000 individual nodes around the world operated by 93,561 users.

*Helium network hotspot statistics. Source: Helium*

This partnership with Dish Network was made possible by a community vote in April which approved the addition of a second 5G capable network to the protocol through a partnership with FreedomFi. This will allow Helium to offer support for devices like smartphones, tablets and laptops.

Helium has also received increasing support from multiple hardware manufacturers that have begun making hotspots compatible with the Helium network and this is expected to expand the network’s reach.

Data from Cointelegraph Markets Pro and TradingView shows that since hitting a low of $16.45 on Sept. 29, the price of HNT has swelled 42.2% to a daily high at $23.50 on Oct. 26 as its 24-hour trading volume spiked 162.75% to $35 million.

*HNT/USDT 4-hour chart. Source: TradingView*

VORTECS™ data from Cointelegraph Markets Pro also began to detect a bullish outlook for HNT on Oct. 20, prior to the recent price rise.

The VORTECS™ Score, exclusive to Cointelegraph, is an algorithmic comparison of historical and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements and Twitter activity.

*VORTECS™ Score (green) vs. HNT price. Source:* *Cointelegraph Markets Pro*

As seen in the chart above, the VORTECS™ Score for HNT began to pick up on Oct. 20 and hit a high of 78 around 93 hours before the price began to increase by 15.6% over the next two days.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Bitcoin bulls attack $57,000 and altcoins rally as April comes to a close

April 30, 2021 Coin Telegraph

Bitcoin bulls attack ,000 and altcoins rally as April comes to a close

Altcoin Watch

Altcoins moved toward new highs and Bitcoin price rallied above $57,000 shortly after today’s uneventful $4.2 billion monthly options expiry.

Bitcoin (BTC) and the overall cryptocurrency market sprang to life on April 30 as an uneventful close to this month's $4.2 billion options expiry occurred without any signs of controversy.

Data from Cointelegraph Markets and TradingView shows that after a brief dip below the $53,000 support level on April 29, the price of Bitcoin staged a 10% rally back above $57,400 by midday.

*BTC/USDT 4-hour chart. Source:* *TradingView*

The revelation from MicroStrategy CEO Michael Saylor that the company saw a 52% surge in revenue compared to the same quarter last year will likely strengthen the argument that organizations should hold Bitcoin on their balance sheet as a way to combat inflation as well as attract new investors.

Central bank digital currencies (CBDC) are also gaining traction as the Bank of England revealed that it is moving ahead with plans to launch a digital pound and the central bank of France made headlines on April 29 after settled a $100 million Euro bond using a CBDC that was hosted on the Ethereum (ETH) network.

Altcoins show significant strength

While much of the mainstream news and focus from analysts revolves around Bitcoin and Ethereum, a handful of altcoins caught the attention of traders on Friday as their prices saw double-digit gains

One of the strongest performers of the day was IoTeX which surged 75% to a new all-time high at $0.085. The blockchain project is focused on solving the issues of scalability, privacy and high operating costs which are limiting the mass adoption of the Internet of Things (IoT) ecosystem.

*IOTX/USDT 4-hour chart. Source:* *TradingView*

VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for IOTX on April 27, prior to the recent price rise.

The VORTECS™ Score, exclusive to Cointelegraph, is an algorithmic comparison of historic and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements and Twitter activity.

*VORTECS™ Score (green) vs. IOTX price. Source:* *Cointelegraph Markets Pro*

As seen in the chart above, the VORTECS™ Score began to climb on April 26 and reached a high of 76 on April 27 before spiking to 73 again on April 29. It's worth noting that the VORTECS™ Score hit 73 roughly 10 hours before the price spiked 75% to a new all-time high at $0.0857.

A second coin that has been performing well over the past couple of days and is now registering a VORTECS™ Score of 95 is PARSIQ (PRQ), an analytics platform that offers cutting-edge tools for the analysis of blockchain technology across a variety of industries.

*VORTECS™ Score (green) vs. PRQ price. Source:* *Cointelegraph Markets Pro*

Bullishness for PRQ was first detected on April 28 when the VORTECS™ Score reached the green zone. The score stayed near that level (67) over the next day and then rapidly climbed to a high of 95 on April 30 as the price of PRQ rallied higher.

A score of 95 is one of the highest scores ever registered on the VORTECS™ system, and previous instances of scores in the mid to high 90’s have been shown to precede further price appreciation, as was recently demonstrated by Polygon (MATIC) this week.

*Daily cryptocurrency market performance. Source:* *Coin360*

Generally, altcoins rallied across the board, boosting the total market capitalization to $2.177 trillion while Bitcoin's dominance rate slipped to 48.8%.