Exploring the Trends: Cronos, Theta Network, and JasmyCoin 📈
Curious about how Cronos (CRO), Theta Network (THETA), and JasmyCoin (JASMY) are faring in the crypto landscape this year? Dive into the latest developments and market news surrounding these cryptocurrencies.
Growth of CRO Amid New Partnership 🔥
The native token of the Cronos blockchain, CRO, has recently witnessed a remarkable surge of 47% in a week, generating significant interest among traders and the broader crypto community.
This upward trend is occurring during a bullish phase in the market, with the main driving force being a pivotal announcement from Cronos Labs regarding a partnership with Google Cloud.
Cronos Labs has disclosed that Google Cloud will now serve as the primary cloud services provider for the entire Cronos ecosystem, a strategic move that is expected to enhance technological innovation and platform adoption.
Notably, Google Cloud will also function as a validator within the Cronos network. This integration promises a level of security and operational dependability that is rare within the sector.
The agreement allows Cronos Labs to harness the sophisticated infrastructure and advanced capabilities of Google Cloud’s artificial intelligence to optimize blockchain performance.
The utilization of AI and machine learning from Google is anticipated to lead to the development of innovative features, broadening the scope for developers and users alike.
Furthermore, the partnership aims to simplify access to innovation for developers, merging the blockchain prowess of Cronos with the comprehensive services offered by Google Cloud.
A significant element of this alliance is the Cronos Accelerator Program, designed to support blockchain startups by providing essential resources, mentoring, and cutting-edge infrastructure.
This initiative not only benefits startups but also empowers them to flourish with backing from Google Cloud. The recent advancements in Cronos included launching their public (alpha) mainnet of Cronos zkEVM, marking a crucial milestone.
With the ongoing increase in trading volume and the encouraging developments from the partnership, analysts project that the value of CRO could potentially reach $0.165 by the end of 2024. However, it is essential to remain mindful of possible short-term fluctuations.
Collaborative Research: Theta Network and University of Oregon 🎓
Theta Labs has announced a multi-year collaboration with the Distopia Laboratory at the University of Oregon, focusing on advancing artificial intelligence research.
This partnership was highlighted in Theta’s blog, with assistant professor Suyash Gupta taking charge of the initiative.
The project leverages Theta Network’s EdgeCloud technology, a hybrid cloud computing platform aimed at optimizing AI applications as well as video rendering and gaming.
Theta Labs unveiled the first phase of its EdgeCloud platform in May after introducing the project in February.
Distopia Laboratory plans to use this advanced infrastructure to enhance training for AI models, leading to significant developments in academic research.
The University of Oregon is highly regarded for its expertise in distributed systems, blockchain, and federated learning. This partnership allows Theta’s decentralized technologies to tackle intricate projects across diverse sectors such as healthcare, finance, bioinformatics, and media.
Dr. Gupta, recognized for his research at the confluence of AI and blockchain, believes this partnership opens avenues to explore new technological possibilities.
Through this collaboration, Theta Network aims to augment the adoption of EdgeCloud within academia, thus enhancing access to innovative decentralized cloud solutions.
This partnership also presents significant incentives for educational institutions by reducing financial barriers associated with research. The potential of cryptocurrencies to enable decentralized funding offers institutions a competitive edge for their innovative initiatives.
Moreover, Theta Labs is solidifying its international academic presence, having formed alliances with four out of five major universities in South Korea to strengthen its role as a key partner in advanced research.
JasmyCoin: Recent Price Developments 💹
JasmyCoin has experienced a price increase over two consecutive days, achieving its highest level since the last week of October, following a general upturn in market sentiment.
The Japanese token, JasmyCoin (JASMY), reached an intraday peak of $0.022, marking an increase of over 23% from previous lows.
This upward movement aligns with the overall market recovery and reflects a shift in the “Fear and Greed” index, which has crossed into the greed zone with a reading of 62.
Market analysts anticipate further upward momentum, particularly buoyed by developments in the U.S. following the recent elections.
Simultaneously, the open interest in JasmyCoin futures has surged, surpassing $28.4 million, reaching the highest level since October 25, which is a notable rise from about $2.9 million at its weekly low.
This increase underscores a growing speculative interest in JASMY, which is often likened to a Japanese version of Bitcoin (BTC), especially following its recent record surpassing $75,000.
From a technical perspective, JasmyCoin displays signs of a potential upward reversal. It has established a double-bottom pattern at $0.0172, which is typically seen as a strong bullish indicator in financial markets.
Additionally, JASMY is working to break through a bearish trendline that has been in place since late August, having already surpassed the 200-day exponential moving average and is nearing the 50% retracement level, which signals the possibility of an upward momentum.
If JasmyCoin overcomes resistance at $0.0254, the value may increase by another 30%, reinforcing its recovery and offering new bullish prospects.
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