Blockchain
JUNLALA Collaborates with Super Telecom Co., Ltd to Promote Computing Power Development in China’s Market
San Francisco, California–(Newsfile Corp. – May 25, 2023) – On May 19th,
JUNLALA Collaborates with Super Telecom Co., Ltd
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Super Telecom will aid JUNLALA’s software development and application with its communication expertise, while JUNLALA will support Super Telecom in cutting-edge technology exploration. Both companies plan to establish a joint venture and collaborate on projects such as AI research and development, including natural language processing and image generation tools. They aim to co-construct professional communication technology, IoT, new energy, and intelligent hardware for world-class customized computing resources and global business system layout.
At present, Super Telecom is considering accelerating its enterprise globalization process through algorithm technology, computing power services, and other AI-related business systems. With both parties eager to collaborate, JUNLALA and Super Telecom engaged in proactive business communication. Drawing on JUNLALA’s successful experience in AI text-to-image, AI intelligent dialogue applications, and AI enterprise-level application platform technology, coupled with Super Telecom’s profound research into edge computing, cloud computing, AI, and related fields, the two companies promptly outlined a joint development plan for future business endeavors.
For its initial foray into business collaborations, JUNLALA has set its sights on China, which is currently in a period of rapid technological advancement. When selecting partners, JUNLALA, whose research covers machine learning, deep learning, natural language processing, and image recognition, adheres to the principles of complementary technologies, shared vision and goals, and similar industrial dynamics. In line with these principles, JUNLALA has taken an interest in Super Telecom Co., Ltd, a company dedicated to cutting-edge technology research and deeply entrenched in 5G, big data, Internet of Things, artificial intelligence, edge computing, and other technical fields.
With computing power as the foundation, JUNLALA and Super Telecom Communication have established a highly compatible and mutually beneficial business system.
About Super Telecom
Super Telecom has opened 25 branches and operates 11 subsidiaries across China. It is a major full-service communication technology provider, offering comprehensive solutions in the Internet of Things industry and operating as a full-range IDC service provider in China. The company holds the distinction of serving as an executive director unit of China Communications Enterprise Association and as a director unit of Guangdong Internet of Things Association. It has been honored with numerous titles, such as the “Leading Enterprise” award and recognition as one of the “2021 Guangdong Top 100 Innovative Enterprises.”
About JUNLALA
JUNLALA, an AI early player, introduced JunLaLa AI in 2023, which gained popularity among youths for its simplistic design and powerful features. It utilizes model warehouse to enable chart/graph generation, model training, and picture creation. Moreover, its first-of-its-kind AI commander module, offering functions such as AI chat, creation, tool recommendation, and community communication, has received high praise from users.
Contact:
JUNLALA
MiaL Jones
[email protected]
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/166911
Blockchain
Halving weakness sees $206 million exit crypto funds, Bitcoin miners pivot to AI
Leading up to Friday’s Bitcoin (BTC) halving, investors opted to remain on the sidelines rather than increase their exposure to cryptocurrencies. CoinShares’ latest report on digital asset fund flows reveals that crypto funds experienced $206 million in outflows last week, while trading volumes for Exchange-Traded Products (ETPs) dropped to $18 billion.
James Butterfill, head of research at CoinShares, noted, “These volumes represent a lower percentage of total Bitcoin volumes (which continue to rise) at 28%, compared to 55% a month ago.” He attributed this decline in investor appetite to expectations that the Federal Reserve would maintain interest rates at elevated levels for a longer duration.
In terms of regional flows, the United States led the outflows with $244 million exiting incumbent ETFs by the week ending April 19. Butterfill highlighted that newly issued ETFs still received inflows, albeit at lower levels compared to previous weeks. Germany and Sweden saw outflows of $8.3 million and $6.7 million, respectively, while Canada experienced inflows of $29.9 million. Switzerland, Brazil, and Australia also witnessed inflows of $7.8 million, $5.5 million, and $2.2 million, respectively.
Butterfill observed that although Bitcoin saw outflows of $192 million, there were minimal flows into short-Bitcoin positions. Ethereum (ETH) experienced outflows of $34 million for the sixth consecutive week. However, multi-asset funds saw improved sentiment, attracting $8.6 million in inflows. Additionally, Litecoin (LTC) and Chainlink (LINK) received inflows of $3.2 million and $1.7 million, respectively.
The report highlighted that blockchain equities sustained their 11th consecutive week of outflows, totaling $9 million, as investors remained concerned about the halving’s impact on mining companies.
In a separate analysis of the post-halving crypto mining industry, CoinShares analysts suggested that many miners might transition to serving the artificial intelligence (AI) sector, which has become more lucrative. They anticipated a shift towards AI in energy-secure locations, potentially leading to Bitcoin mining operations relocating to stranded energy sites.
The analysts projected a 10% decline in the Bitcoin network’s hash rate after the halving as miners deactivate unprofitable ASICs. However, they expected the hash rate to reach 700 exahash (EH/s) by 2025. As of the current data, the Bitcoin hash rate stands at 596.22 EH/s.
The report also noted that substantial cost increases are anticipated due to the halving, with electricity and production costs nearly doubling. Mitigation strategies include optimizing energy costs, enhancing mining efficiency, and securing favorable hardware procurement terms. Miners are actively managing financial liabilities, with some utilizing excess cash to significantly reduce debt.
Source: kitco.com
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Blockchain
NYSE gauges interest in 24/7 stock trading like crypto
According to reports, the New York Stock Exchange (NYSE) is exploring the possibility of introducing round-the-clock trading, a model akin to that of cryptocurrency markets. In a bid to gauge market sentiment, NYSE’s data analytics team has circulated a survey among market participants. The survey seeks feedback on whether there is support for 24/7 or extended weekday trading hours and, if so, what measures should be implemented to safeguard traders against overnight price fluctuations. As of now, NYSE, alongside Nasdaq and the Chicago Board Options Exchange, operates from Monday to Friday, spanning from 9:30 am to 4:00 pm Eastern Time.
In the United States, assets like cryptocurrencies, United States Treasurys, foreign exchange, and major stock index futures are already tradable 24/7. Certain brokerages, such as Robinhood and Interactive Brokers, provide access to U.S. stocks throughout the week via a “dark pool” trading venue, catering to international retail investors during their local trading hours.
However, recent reports indicated that Robinhood suspended its 24-hour trading services amidst heightened tensions between Israel and Iran, prompting concerns among investors regarding the sustainability of continuous trading.
Effectively managing liquidity in a 24/7 trading environment has proven challenging for trading platforms within the cryptocurrency industry.
According to cryptocurrency research firm Kaiko, there’s often a mismatch between the operating hours of traditional financial institutions and the needs of major crypto traders and market makers. Traders frequently find themselves losing sleep during periods of extreme market volatility.
While the results of NYSE’s survey haven’t been revealed, Tom Hearden, a senior trader at Skylands Capital, conducted his own poll among his 19,300 followers, asking if they would support NYSE transitioning to 24/7 trading hours. Interestingly, over 70% of the 1,459 respondents voted “No.”
NYSE’s survey coincides with the efforts of startup firm 24X National Exchange, which is seeking approval from the Securities and Exchange Commission (SEC) to launch the first exchange in the country operating round-the-clock.
The FT said, citing two persons familiar with the subject, that the SEC has “months” to study the proposed rule change, and other relevant issues, such who should shoulder expenses and the function of clearing houses, are already being considered by other stakeholders.
“How loud they will be playing in the middle of the night is unknown to me. However, the decision of whether something is commercially feasible or not actually shouldn’t be made by the SEC, James Angel, a Georgetown University finance professor, told FT.
“I support letting the market make the decision. We’re all better off if it succeeds, and the exchange’s stockholders lose out if it fails.
After the company withdrew an application in March 2023, alleging operational and technological concerns, it is the second attempt to receive SEC clearance.
Source: cointelegraph.com
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