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Elon Musk’s X.AI Crypto Increase by 780% ; X.AI Also Boots Crypto AI Tokens
2023/07/17By:
The price of a token that has nothing to do with Elon Musk’s new cryptocurrency, xAI, has exploded since its release.
In just 24 hours, the value of one token of the XAI cryptocurrency rose by a whopping 780%. Elon Musk, the founder of Tesla and SpaceX, has launched a new artificial intelligence project called xAI. The new venture is part of the “X” brand family, which already includes companies like Tesla. Musk said the new project’s objective is to “understand reality.” The launch of XAI, a strange and unrelated crypto coin, caused its value to increase.
The Value of X.AI Jumps 780%
After Musk introduced xAI, the value of a token for the cryptocurrency rose from $0.0000000010 to $0.0000000088, a 780% gain. After a 50% decrease, the coin is now trading at around $0.001305.
The cryptocurrency markets’ recent excitement is not the first time news about Elon Musk has done so. The billionaire’s statements have caused significant price swings in Dogecoin (DOGE) on multiple occasions. Musk’s new venture will feature multiple tokens rising in value, not only XAI.
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AI Tokens Price Spikes after Elon Musk’s Tweet
On Wednesday, after Elon Musk unveiled xAI, a new artificial intelligence (AI) startup that would compete with ChatGPT, a popular chatbot, cryptocurrency tokens tied to AI saw a surge of more than 3 percent.
SingularityNET (AGIX) and Fetch.ai (FET) tokens, for example, both saw increases of over 6% and over 3% after the new company with a mission to “understand the true nature of the universe” was introduced. Musk will be in charge of the team, which features alumni of DeepMind, OpenAI, Google Research, Microsoft Research, Tesla, and the University of Toronto, as stated on the company website.
Will X.AI Replace ChatGPT ?
Musk will take charge of the undertaking. The xAI group has a wealth of experience between them, with members having previously worked at places like DeepMind, OpenAI, Google Research, Microsoft Research, Tesla, and the University of Toronto.
The chosen moniker, xAI, is an homage to Musk’s previous work, most notably X.com. When it debuted in December 1999, X.com was at the forefront of what would become the modern Internet banking industry. Ironically, in March of 2000, it merged with PayPal Holdings Inc, another company Musk co-founded, before eventually going its own way. For his most recent endeavour, Musk acquired the X.com domain name from PayPal in 2017.
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Why Trade Crypto Futures on BTCC
To trade crypto futures, you can choose BTCC crypto exchange.BTCC, a cryptocurrency exchange situated in Europe, was founded in June 2011 with the goal of making crypto trading reliable and accessible to everyone. Over 11 years of providing crypto futures trading services. 0 security incidents. Market-leading liquidity.
Traders may opt to trade on BTCC for a variety of reasons:
- Secure:safe and secure operating history of 11 years. Safeguarding users’ assets with multi-risk management through the ups and downs of many market cycles
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Look More:How to Deposit Crypto on BTCC?
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How to Trade Crypto Futures on BTCC ?
To trade crypto on BTCC, follow these simple steps:
- Create an account
Go to the BTCC website and fill out the registration form with the necessary details. Finish the checks to make sure you’re in line with the stock exchange’s rules.
- Deposit funds
Fund your BTCC wallet once your account has been created and verified. You can fund your BTCC account with a number of different cryptocurrencies and fiat currencies.
- Navigate to the crypto trading section
You can begin trading on the BTCC platform as soon as your account has been funded. Find the crypto exchange rate, which is written as crypto/Bitcoin (BTC) or crypto/US Dollar (USDT) depending on the other pairs available.s.
- Choose your trading type
Both spot trading and futures trading are available through BTCC. If you want to purchase or sell crypto tokens at the current market price, you may want to investigate spot trading. If you’d rather trade crypto with leverage and speculate on its price movements, you can do so with crypto Futures.
- Place your trade
After deciding which type of deal you want to make, you can enter the amount of crypto you like to buy or sell, as well as your preferred price (if necessary). If everything checks out, go ahead and make the deal.
- Monitor and manage your trades
Be sure to monitor your crypto holdings on the BTCC exchange. To limit losses and protect gains, you can use stop-loss and take-profit orders. It is also important to keep up with the latest crypto market trends and news if you want to successfully trade this cryptocurrency.
Before becoming involved in any kind of trading, make sure you’ve done your homework. Due to the extreme volatility of the cryptocurrency markets, it is crucial to have a well-defined trading strategy and risk management framework in place. To successfully trade crypto on the BTCC market and take advantage of the chances it provides, follow these procedures and keep yourself updated.
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FAQs
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1.Is BTCC safe?
Since its inception in 2011, BTCC has made it a priority to create a secure space for all of its visitors. Measures consist of things like a robust verification process, two-factor authentication, etc. It is considered one of the most secure markets to buy and sell cryptocurrencies and other digital assets.
2.Is it possible for me to invest in BTCC?
Users are encouraged to check if the exchange delivers to their area. Investors in BTCC must be able to deal in US dollars.
3.Can I Trade BTCC in the U.S?
Yes, US-based investors can begin trading on BTCC and access the thriving crypto asset secondary market to buy, sell, and trade cryptocurrencies.
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Risk warning: Digital asset trading is an emerging industry with bright prospects, but it also comes with huge risks as it is a new market. The risk is especially high in leveraged trading since leverage magnifies profits and amplifies risks at the same time. Please make sure you have a thorough understanding of the industry, the leveraged trading models, and the rules of trading before opening a position. Additionally, we strongly recommend that you identify your risk tolerance and only accept the risks you are willing to take. All trading involves risks, so you must be cautious when entering the market.
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