updraftplus domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/aonyeani76/cryptocurrencypanther/wp-includes/functions.php on line 6131hustle domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/aonyeani76/cryptocurrencypanther/wp-includes/functions.php on line 6131wpforms-lite domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/aonyeani76/cryptocurrencypanther/wp-includes/functions.php on line 6131The price of Ethereum has surged to an 11-month high despite the withdrawal of nearly 240,000 ETH. The withdrawals did not have any negative impact on the Ethereum price trend as the crypto asset is on a surge spree.
As of the time of writing, ETH has recorded a price growth above 6% in the past 24 hours, beyond BTC’s 1.77% gain. There is seemingly an improvement in market sentiment around the asset today, causing ETH’s value to skyrocket.
This is also evident in the token’s trading volume in the past 24 hours. If this trend continues, the price could surge beyond the $2,500 mark soon.
As of today, the price of Ethereum has surged over $2,000, its highest level over the past 11 months. This is a substantial increase from its recent price of $1,900 as of yesterday. In the meantime, the Ethereum market sentiments are bullish, particularly after its price surge. This could be due to the Shapella upgrade that took place this week.
Ethereum now stands at $2,115, a 5.13% surge over the last 24 hours. Meanwhile, Bitcoin still hovers around a 1.77% price increase in the same period.
Furthermore, Ethereum’s trading volume is currently up by 25.45%, surpassing that of Bitcoin, which now stands at 9.22%.
The surge in Ethereum’s price has also caused a ripple effect on the broader digital asset market. Several other cryptocurrencies, including Bitcoin and Binance Coin, have experienced price increases.
In the meantime, crypto investors can only watch to see how long this surge in Ethereum’s price will last. But for now, it appears that the digital currency market is once again heating up.
An industry analyst, Colin Wu, noted that the token withdrawal occurred approximately 30 hours after the Shanghai upgrade. But he also stated that the network received about 100,000 ETH deposits afterward. As such, data from Token Unlocks shows that the net staking balance is now 139,000 ETH, worth about $277 million.
Related Reading: Little-Known Crypto WOO Outshines DEX Tokens With Surprise 32% Spike
The data also shows that about 1.11 million ETH worth $2.35 billion are still on hold for withdrawal at the time of writing.
Wu cited in his tweet that 63% of this amount goes to Kraken, whose staking services are currently not functional due to the suspension from the United States Security and Exchange Commission. Meanwhile, Coinbase, Huobi, and Lido Finance account for 11%, 5.1%, and 31%, respectively.
Featured image from Pixabay and chart from Tradingview
Chinese tech giant Baidu is currently riding high on the news that the company is launching an AI chatbot called ‘Ernie bot.’
Baidu shares surged by over 13% in Hong Kong on news that the Chinese giant plans to launch its own artificial intelligence (AI) chatbot. According to reports, the prospective Baidu chatbot, dubbed “Wenxin Yiyan” in Chinese or “Ernie bot” in English, could mirror ChatGPT’s functionality. The company also said internal testing for the AI chatbot should conclude in March before a public release.
Baidu’s stock rose 13.48% to an 11-month high of 159.80 Hong Kong dollars per share during the Asian morning trade. Amid its stock’s highest point since mid-February last year, the company also provided some insight into its upcoming Ernie chatbot. Describing the AI chatbot initiative as a “large language model” initially introduced in 2019, Baidu also explained the project’s name. According to the Chinese multinational tech company, Ernie stands for “Enhanced Representation through Knowledge Integration.” Baidu further added:
“What distinguishes ERNIE from other language models is its integration of extensive knowledge with massive data, resulting in exceptional understanding and generation capabilities. It has since evolved into a series of advanced big models capable of handling a wide range of tasks, such as language understanding, language generation, and text-to-image generation.”
In a presentation from mid-January, Baidu chief technology officer Haifeng Wang stressed the importance of AI-driven deep learning. According to Wang, this type of learning sits at the core of artificial intelligence and demonstrates “increasingly strong potential.”
Touching on content generated by artificial intelligence, Baidu Technology Committee Chairwoman Hua Wu said:
“If you can utilize these content creation abilities to the greatest extent, then you can complete many important tasks of a film production.”
Baidu’s confirmation of an upcoming AI chatbot feature comes on the heels of similarly-driven initiatives by Microsoft (NASDAQ: MSFT) and Google (NASDAQ: GOOGL).
The Microsoft-backed ChatGPT chatbot launched on November 30th last year and surged in popularity in the following months. ChatGPT, which stands for Chat Generative Pre-trained Transformer, is an OpenAI initiative that gives Google’s search engine a run for its money.
The chatbot is built atop OpenAI’s GPT-3 suite of large language models and boasts both supervised and reinforcement learning techniques. ChatGPT quickly garnered widespread attention for its articulate answers and detailed responses across several knowledge domains.
Deployed in a wide range of services, from content creation to customer services, ChatGPT has the potential to large datasets and draw valuable conclusions. The chatbot’s surging popularity also boosted the value of some cryptocurrencies.
ChatGPT’s release also bestowed a lofty $29 billion valuation on its creator OpenAI. Furthermore, Microsoft’s $10 billion investment in the AI initiative emphasizes the potential for the technology to revolutionize business industries.
Google also recently announced its own Bard AI offering, which will open up to public testing. Bard looks to rival ChatGPT and will begin rolling out in the coming weeks.
Powered by Google’s large language model LaMDA (Language Model for Dialogue Applications), Bard boasts several features. These include an “Apprentice Bard” chatbot and new search desktop designs that are potentially usable in a question-and-answer format.
Tolu is a cryptocurrency and blockchain enthusiast based in Lagos. He likes to demystify crypto stories to the bare basics so that anyone anywhere can understand without too much background knowledge.
When he’s not neck-deep in crypto stories, Tolu enjoys music, loves to sing and is an avid movie lover.