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Musk: AI5 will be one of the most produced artificial intelligence chips in history.Musk: Congratulations to Teslas AI chip design team on successfully completing the tape-out of the AI5 chip. AI6, Dojo3, and other exciting chips are also under development.On April 15th, Goldman Sachs analysts stated, "Since the US-Iran ceasefire declaration, the risk premium at the front end of the oil curve has declined as the likelihood of a peace agreement in the near term has increased." Goldman Sachs noted that oil flows through the Strait of Hormuz have not yet increased, and the US blockade measures could further squeeze supply. However, this pressure has been somewhat alleviated because the disruption to crude oil production in the Middle East does not appear to be as severe as expected, thanks to larger-than-expected storage capacity both onshore and offshore.On April 15th, Goldman Sachs reported that the US March PPI, the PPI excluding food and energy, and the PPI excluding food, energy, and trade services all fell short of expectations. However, the PPI sub-index related to PCE performed better than the banks previous assumptions. Based on the details of the PPI and CPI reports, Goldman Sachs estimates that the US core PCE price index rose 0.27% in March (compared to a forecast of 0.22% before the PPI report was released), corresponding to a year-on-year increase of 3.15%. Furthermore, the bank expects the overall PCE price index to rise 0.64% in March, a year-on-year increase of 3.45%.Futures News, April 15th: Shanghai Futures Exchange (SHFE) Energy and Chemical Warehouse Receipts and Changes on April 15th: 1. Pulp futures warehouse receipts: 181,417 tons, unchanged from the previous trading day; 2. Pulp futures mill warehouse receipts: 15,000 tons, unchanged from the previous trading day; 3. Offset paper futures warehouse receipts: 957 tons, unchanged from the previous trading day; 4. Offset paper futures mill warehouse receipts: 4,160 tons, unchanged from the previous trading day; 5. Fuel oil futures warehouse receipts: 0 tons, unchanged from the previous trading day. 6. Petroleum asphalt futures warehouse receipts: 33,870 tons, unchanged from the previous trading day; 7. Petroleum asphalt futures factory warehouse receipts: 48,800 tons, a decrease of 500 tons from the previous trading day; 8. Medium-sulfur crude oil futures warehouse receipts: 3,511,000 barrels, unchanged from the previous trading day; 9. Low-sulfur fuel oil futures warehouse receipts: 17,600 tons, a decrease of 6,000 tons from the previous trading day; 10. Low-sulfur fuel oil futures factory warehouse receipts: 0 tons, unchanged from the previous trading day.

Crypto Cloud Storage STORJ Leads Rally by 55% As ETH, BTC Consolidate

Jimmy Khan

Jun 24, 2022 14:48

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The top cryptocurrencies were anticipated to be driving the rise when the cryptocurrency market passed the $900 billion threshold today.


Storj managed to seize dominance, overtaking every other significant cryptocurrency with its ascent despite the fact that it turned out to be a relatively unknown coin.

Storj?

Indeed, Storj. The asset is, as it sounds, the native token of a cloud storage platform supported by cryptocurrencies, which until today was merely another coin.


However, the altcoin's one-day increase of 55.08 percent succeeded to place it on the map both literally and figuratively, as it joined the top 100 cryptocurrencies list.


Due to the price increase, the asset's market value increased by approximately $100 million during the course of the previous day. This increased the asset's overall growth over the preceding nine days to a total of 156.7 percent.


More than half of the losses that the cryptocurrency sustained during the May 65 percent fall were also nullified by this rebound in addition to the losses registered by the altcoin this month during the June 9 crash.


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The green candle, which closed above both the 100-day SMA and the 50-day Simple Moving Average (red line), insured that the gain was sustained (blue line). The 200-day SMA (purple line), which would effectively transform this into a bullish run, is also getting closer.


Additionally, after more than two months, the Awesome Oscillator switched the active trend's direction from bearish to bullish, with the green bars climbing above the neutral.


Now, it has to be seen if the asset will be able to sustain this growth moving forward or if it will just be another one-day wonder.

Ethereum and Bitcoin Take a Break

The king currencies have been moving slowly, essentially not at all, as the altcoins have taken the lead.

BTC has made little progress at all during the past week, hovering around the $20k to $21k level, whereas ETH recently broke the $1.1k threshold.


However, Bitcoin's recovery has been so sluggish that the king currency has not yet reached the upswing stage that every other altcoin is presently in.


Additionally, the Relative Strength Index (RSI), which has been signaling a trend reversal for more than two months, shows that BTC is still trapped in the negative zone.


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