Latin American Companies Increased Use of AI by 67%, According to IBM

Audy Castañeda
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Latin American Companies Increased Use of AI by 67%, According to IBM

Companies with more than 1,000 employees in Latin America accelerated the use of Artificial Intelligence (AI) by 67% in the last 24 months. The 67% in Latin America is above the 59% worldwide, as companies from all sectors are experimenting with AI for their investment. IBM also saw some barriers to AI adoption in the region, such as limited skills, experience and knowledge (32%).

Companies with more than 1,000 employees in Latin America accelerated the use of Artificial Intelligence (AI) by 67% in the last 24 months. Most of the companies that accelerated the use of AI are from Argentina, Brazil, Chile, Colombia, Mexico and Peru.

The 67% in Latin America is above the 59% worldwide, as companies from all sectors are experimenting with AI for their next investment steps. Therefore, 37% of Latin companies are implementing AI and 45% are only exploring it.

IBM: Business Use of AI Grows in Latin America in the Last 2 Years

On the other hand, IBM pointed out that AI is used in Latin America for digital labor (39%), process automation in information technologies (IT), with 35%. Likewise, marketing and sales (35%), while its use in early stages of adoption was for health diagnoses (8%), environmental risk analysis (10%) and sustainability (16%).

IBM asked more than 1,000 employees across all industries in the region and 90% of IT professionals believe consumers will choose their products or service based on their ethical use of AI. Meanwhile, 92% of respondents believe they have the ability to govern data and AI will be essential for trust in the market.

In this regard, Tonny Martins, General Manager of IBM Latin America, stated the following:

“We are seeing companies move from experimenting with AI to making new investments, to reap the benefits. This demonstrates the opportunity that exists to explore new use cases, taking advantage of the improvements it can generate, maintaining trust and governance, co-creating professionals with the ecosystem to build the future together.”

Months ago, the consulting firm IDC estimated that AI will grow 69% in 2024 in Latin America. Its explosive adoption is due to the fact that the technology will be essential for industries such as robotics, cloud, logistics or process automation. The consultation believes that AI is becoming ubiquitous across all functional areas of businesses.

Latin America: AI Grows More in Argentina, Mexico, Peru and Chile

The countries where there would be the greatest adoption of AI until 2023 were Argentina (AI will grow 7% this year), Mexico (it would grow 10% in 2024), Peru and Chile, with 11% in both cases. In addition, AI in cloud services will grow 30.4% in the year.

However, IBM also saw some barriers to AI adoption in the region, such as limited skills, experience and knowledge (32%). Meanwhile, only 38% of companies plan to invest in workforce training and development.

At the beginning of the year, Accenture showed that some of the technological trends for Latin America this year will be spatial computing, metaverse, digital twins, as well as Augmented and Virtual Reality (AR/VR). The report stated that most technologies will be integrated with AI.

Accenture stated that the technology that generates the most interest is AI, where 96% of managers see an opportunity. Especially in technology to increase the potential of companies in the coming years. Even the metaverse continues to be one of the best-known applications for digital real estate. This, despite its 90% collapse in the last two years.

By Audy Castaneda

Whales Now Own 55% of USDT, USDC and DAI Supply – Is a Bull Run Coming?

Leonardo Perez
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Whales Now Own 55% of USDT, USDC and DAI Supply – Is a Bull Run Coming?

More than 55% of the total stablecoins in circulation were in the custody of whales. Stablecoin reserves on exchanges have increased substantially since the beginning of the year.

One of the biggest bullish signs for the cryptocurrency market is the increase in stablecoin reserves. This is because they are widely used to purchase other cryptocurrencies, while preserving fiat value.

Whales Accumulate Stable Coins

According to on-chain analytics firm Santiment, whale wallets with over $5 million in holdings have been on a stablecoin accumulation spree for the past three weeks.

In fact, this cohort acquired over 5% of the total supply of these leading coins, including USDT, USDC, DAI, and TUSD, over the past three weeks. As of April 1, more than 55% of the total stablecoins in circulation were in the custody of whales.

Bitcoin in Consolidation Period

An unprecedented move reported by on-chain data provider CryptoQuant anticipates bullish potential for bitcoin (BTC). This is the largest entry of the USD Coin (USDC) stablecoin in history on the Coinbase exchange.

As the chart on which the analysis was based shows, the inflow was more than $1.4 billion in USDC. “This sizable deposit indicates potentially significant buying pressure” for Bitcoin, said Maarten Regterschot, market researcher and community manager at CryptoQuant.

The unprecedented entry of USDC anticipates that the USD 60,000 that bitcoin recently touched could be a local minimum of the current bullish trend. In other words, the market may be preparing to increase its demand at current prices, driving the upside.

The currency has been lateralizing in the last three weeks between USD 60,000 and USD 73,700, its new all-time high. Therefore, the market is currently in a consolidation stage after setting such a record.

This scenario takes place while analysts remain bullish in the medium term due to the halving scheduled for the second half of April. This event, which occurs every four years, is the halving of the currency’s issuance, which limits the sales pressure, leading to an increase in price.

Will Buying Pressure Increase?

Santiment agreed with the theory that whales could be waiting for the market to correct significantly, allowing them to buy big and increase their Bitcoin. [BTC] positions.

Interestingly, the market pulled back on April 1st. AMBCrypto investigated CryptoQuant data and detected net inflows of stablecoins to cryptocurrency exchanges, lending credence to the aforementioned narrative.

Stablecoin reserves on exchanges have increased substantially since the beginning of the year. Recently, nearly 20.36 billion coins were held in exchange wallets, the highest number in over a year.

Historically, the rise of stablecoin deposits has preceded a sharp rise in the market price of Bitcoin. Therefore, there was a higher chance of higher volatility and a Bitcoin bounce in the next two weeks or so.

Top Stablecoins in Full Demand in 2024

Meanwhile, the global stablecoin cap continued to rise, surpassing $143 billion for the first time since 2022. The recovery was led by the two leading assets: USDT and USDC.

The world’s largest stablecoin, USDT, has continued last year’s positive momentum, growing 13% year-to-date (YTD) to a whopping $104 billion in market valuation.

However, the real success story has been USDC, which jumped 33% year-to-date to $32 billion after encountering significant downsides last year.

By Leonardo Perez

Bitcoin Users Surpass the Number of Internet Users in the 90s

Audy Castañeda
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Bitcoin Users Surpass the Number of Internet Users in the 90s

The current bullish rally may be the last cycle before the final adoption of Bitcoin and major blockchains, that is, their mass acceptance by the people. Some Twitter users have begun to compare the pace of expansion of the Internet and the main cryptocurrencies. It turns out that the number of active Bitcoin users is currently comparable to the popularity of the Internet in 1997.

The current bull rally may be the last cycle before the final adoption of Bitcoin and major blockchains, that is, their mass acceptance by ordinary people. Some Twitter users have begun to compare the pace of expansion of the Internet and the main cryptocurrencies.

It turns out that the number of active Bitcoin users is currently comparable to the popularity of the Internet in 1997. This suggests that we are still in the initial phase of BTC popularization.

Bitcoin (BTC) User Growth

An important step in this process was the launch of spot Bitcoin ETFs in the United States, which the Securities and Exchange Commission (SEC) approved on January 10, 2024. Thanks to this, exchange-traded funds based on BTC are now traded on the world’s largest exchanges.

Cryptocurrency itself, in turn, has become more accessible and understandable for professional institutional investors who are willing to invest large capitals in this industry. In the context of what is happening, popular analysts express their own expectations for the future growth of the market in this cycle.

Acheron Trading Director Laurent Benayoun is betting on Bitcoin at the $180,000 level during this bull market. In turn, Bitfinex representatives expect BTC to reach between 100,000 and 120,000 by the end of 2024.

How Many People Use Bitcoin?

An image has garnered many posts on Twitter among digital asset fans. It shows the current number of Bitcoin users with a clear reference to 1997. It was a year in which approximately the same number of people actively used the Internet.

It is extremely difficult to confirm the accuracy of both numbers, but they clearly show how far the world is from global BTC adoption. The relatively low popularity of digital assets is also evident through criticism of cryptocurrencies.

In mid-March, Democratic U.S. Senators Jack Reed and LaFonza Butler wrote an open letter to the Securities Exchange Commission. In it, they asked the regulator’s leadership not to approve new cryptocurrency-based spot ETFs.

Politicians attributed their request to active manipulation of the coin market and poor liquidity in the industry. In addition, they mentioned the significant presence of scammers in the world of cryptocurrencies, so investors supposedly need protection against such assets.

At the same time, in 1997, significantly fewer people were using the Internet. Back then only 70 million people were connected at all times.

Amazon’s entry into the Stock Market and its Relationship with Bitcoin

The year 1997 was chosen for comparison for a reason: it was in 1997 when Amazon went public at a price of $18 per share. If an investor invested $4,000 to buy Amazon stock during the dot-com boom in 1997, its value in 2023 would be approximately $7.3 million.

The cryptocurrency appeared thanks to the activities of an anonymous developer under the pseudonym Satoshi Nakamoto, who decentralized Bitcoin and limited the maximum supply of the cryptocurrency to 21 million coins. At the same time, as of today, a certain part of BTC has already been irretrievably lost. This means that the actual amount of BTC in circulation is much less than the amount of coins mined so far.

By Audy Castaneda

Crypto Changes That Will Drastically Impact the Course of Digital Currencies This Month

Leonardo Perez
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Crypto Changes That Will Drastically Impact the Course of Digital Currencies This Month

April will be an eventful month for the crypto industry, with several key events that could have major implications. From halving to regulatory decisions and protocol launches, it is highly likely that these events have the potential to shape the future of the digital asset landscape.

On April 10, the United States will announce the March Consumer Price Index (CPI), a vital indicator that measures the change in average price paid by urban consumers for a basket of goods and services. The Federal Reserve closely monitors the CPI as it influences inflation and, consequently, the central bank’s interest rate decisions. Any change in interest rates can have a ripple effect on the overall performance of the crypto market.

April 19 marks the deadline for the US Securities and Exchange Commission (SEC) and US cryptocurrency exchange Coinbase to reach a settlement in their ongoing legal battle. As reported by a media outlet, the court previously ruled in favor of the SEC, supporting claims that Coinbase operated as an exchange, broker, and clearing agency. However, the court also sided with Coinbase on certain claims related to its wallet.

One of the most anticipated events in the world of cryptocurrencies, the Bitcoin block reward halving, is scheduled for April 25. This event, which occurs approximately every four years, reduces the mining reward for contributors who protect the network by 50%. As a result, the rate at which new BTC is introduced into circulation slows down.

Bitcoin Halving Approaches

Coinciding with the Bitcoin halving on April 25, the Runes protocol is expected to launch around April 25. Runes is a Bitcoin-native digital commodity protocol that introduces a novel fungible token system to the Bitcoin network.

The sentencing hearing for Changpeng Zhao (CZ), former CEO of Binance, is expected to take place on April 30. CZ pleaded guilty to failing to maintain an effective anti-money laundering program at Binance. CZ agreed to resign as CEO and pay a $50 million fine as part of the plea deal. Binance also agreed to pay substantial fines of more than $4.3 billion and restitution.

Finally, the EigenLayer mainnet launch is expected at the end of April. Mainnet is when a blockchain protocol is fully developed and implemented, allowing cryptocurrency transactions to be transmitted, verified and recorded on a distributed ledger technology (blockchain).

The largest cryptocurrency on the market, BTC, is trading at $68,690, marking a price decrease of 2.6% in the last 24 hours and 2.4% in the last seven days.

Halving: Cryptocurrencies to Watch in April Besides Bitcoin and Dogecoin

April marks the beginning of the cycle for altcoins, which can often outperform BTC in terms of gains. It is worth examining which are the most promising cryptocurrencies to take advantage of the April halving.

Doge. Being the largest memecoin in this niche, is ideally positioned to take advantage of the bull cycle. It has a low value, which increases the chances of more potential profits. Furthermore, DOGE is strategically positioned to benefit from a bullish cycle that could be even stronger than that of BTC.

Bitcoin. After the halving, there will be fewer new BTC to satisfy a demand that, in 2024, was 10 times greater than the monthly supply placed by miners. In addition to enthusiasts and companies, ETFs are now competing for these BTC, and managers want to pay a lot. Therefore, this supply shock after the halving could cause strong price increases in the medium term.

By Leonardo Perez

Top Three Altcoins That Could Eclipse Bitcoin in April 2024

Audy Castañeda
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Top Three Altcoins That Could Eclipse Bitcoin in April 2024

April altcoins show potential to outperform Bitcoin, with ALGO displaying a “Golden Cross” formation, suggesting a new bullish rally. GT gains momentum, surging 98.10% in the past month, while CAKE targets its highest price since May 2022. ALGO, GT and CAKE are showing bullish trends, supported by EMA signals, indicating potential for further growth in April.

April altcoins are laying the groundwork for a potential market upheaval, and are expected to significantly overshadow Bitcoin (BTC). Among them, ALGO stands out for its recent “Golden Cross” formation on the 4-hour price chart, an indicator that could herald the beginning of a new bull run.

GT has captured attention by surging an impressive 98.10% in the past month. Its price trajectory suggests that this bullish trend could intensify in April. Meanwhile, CAKE is poised to hit its highest price since May 2022, presenting a compelling case for investors seeking lucrative opportunities outside of Bitcoin’s dominance.

ALGO Forms a “Golden Cross”

Algorand is a decentralized, secure and scalable platform for digital currencies and smart contracts. Its price grew by almost 17% this year. Although its growth continues to lag behind other cryptocurrencies, ALGO could be gearing up for a major bull run, as its 4H price chart shows that its EMA lines recently formed a “Golden Cross.”

Exponential moving averages (EMAs) are moving averages that give greater weight and importance to more recent data points, making them especially sensitive to new market information.

The golden cross is a bullish signal seen on price charts, which occurs when a shorter-term EMA crosses above a longer-term EMA. This positive signal suggests that a market could be turning from a bearish to bullish trend, indicating possible long-term growth.

If the uptrend continues, ALGO will likely test its previous resistance at $0.32. If there is a breakout, Algorand could continue rising in April to test the next resistance at $0.41.

GT Gaining Momentum

GateToken (GT) is the base token of the Gate.io exchange, designed to enable a multitude of features and services within its ecosystem. It is only 22.19% below its all-time high (ATH), reached on May 12, 2021. The altcoin is up 98.10% over the past month, reaching the $10 price level for the first time since May 10. May 2021.

The 4H GT chart shows an uptrend. The 20, 50, 100 and 200 period EMAs are aligned in a bullish pattern. The 20 period EMA leads this lineup, hinting at strong momentum. Prices exceed these averages.

The price candlesticks remain above the 20-period EMA. This confirms the trend and suggests that buyers are in control. The pattern of rising lows and highs also indicates an uptrend.

If this holds, GT could re-touch its old high of $12.83. Technical signals and market activity suggest a promising outlook for GT in the short to medium term. They point to possible continued increases.

CAKE On Track to Reach Its Highest Price Level Since May 2022

PancakeSwap is a decentralized financial (DeFi) platform where users can participate in cryptocurrency trading, earn rewards through staking and farming, participate in lotteries, and have a say in governance decisions.

CAKE grew by 48.54% in the last month, but is still 89.42% below its ATH reached in April 2021. This suggests that CAKE has a lot of room to grow.

CAKE price is near the resistance of $5.03. A break above it could extend the uptrend. This is due to the bullish setup of the EMAs. The EMAs could provide support if the price falls.

By Audy Castaneda

Ethereum (ETH) at $3,600 Amid ETF Speculation, Shiba Inu (SHIB) Steady, Furrever Token (FURR) Raises $570,000 in Pre-Sale in Less Than a Month

Leonardo Perez
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Ethereum (ETH) at $3,600 Amid ETF Speculation, Shiba Inu (SHIB) Steady, Furrever Token (FURR) Raises $570,000 in Pre-Sale in Less Than a Month

Recently, ETH has maintained its position despite the great uncertainty regarding the approval of an ETF. SHIB remains stable, while FURR stands out for its promising performance.

In the latest cryptocurrency roundup, Ethereum (ETH) maintains its position around $3,600 amid growing speculation surrounding the possible approval of an ETF. Meanwhile, Shiba Inu (SHIB) shows stability in its price movement, remaining stable in the volatile crypto market.

In particular, Furrever Token (FURR) has emerged as a strong performer, raising an impressive $570,000 in its pre-sale phase in less than a month. This significant achievement underlines the overwhelming enthusiasm and support surrounding FURR, highlighting its potential to disrupt the crypto landscape with its unique approach and promising returns.

Analyzing Ethereum (ETH) Price Trend: Increase in Whale Transactions

In recent weeks, the Ethereum blockchain has witnessed a notable uptick in whale transactions, characterized by significant ETH transfers exceeding $100,000. This trend has sparked speculation among analysts about its implications for Ethereum’s long-term price movements.

Cryptocurrency analyst Ali noted that despite the recent corrections in Ethereum price, the increase in whale transactions suggests bullish sentiment towards future ETH price movements.

Historically, whale activity has been closely linked to significant price changes, often indicating institutional interest or accumulation. Therefore, the current increase in whale transactions could be interpreted as a positive signal for Ethereum, indicating an underlying confidence in its potential despite short-term price fluctuations.

Shiba Inu (SHIB) Faces Price Volatility Amid Whale Transaction Speculation

Shiba Inu (SHIB) is currently trading at approximately $0.00003034, marking a decline of almost 1% from yesterday’s figures, as the meme coin continues to move sideways in the market. Additionally, SHIB price plummeted to as low as $0.00003036 during the day, marking a drop of over 6% from its peak.

While there is no definitive evidence of a sale yet, it is speculated that the SHIB tokens transferred to KuCoin were intended for sale. In the midst of all this, the Shiba Inu community seems to be worried about such a massive transaction. Some SHIB investors fear that such a large transfer could cause the price to drop.

Shiba Inu’s current fight against the important resistance level of $0.000032 is well documented. A possible breakout above this level could pave the way for a rise towards $0.00004, setting the stage for a possible move towards the coveted $0.01 mark in the future.

Furrever Token (FURR): Successful Pre-Sale Surpasses $570,000 Milestone

Furrever Token (FURR) has quickly gained prominence in the cryptosphere, gathering over $570,000 in investments in a remarkably short period of time during its pre-sale phase. FURR prioritizes community engagement as a cornerstone of its strategy. Through a series of engaging initiatives, including challenges, launches and interactive growth campaigns.

The overwhelming response to the FURR pre-sale underlines investors’ strong confidence in the vision and potential of the project. This successful fundraising effort provides a solid foundation for FURR to execute its roadmap and effectively realize its vision.

As more investors realize its potential to generate significant returns and an engaging user experience, Furrever Token gains momentum and attracts more interest from the crypto community. As FURR continues to develop and expand its ecosystem, it remains poised for further growth and success in the future.

It is worth considering the possibility of doing some research before making major investment decisions, as the Cryptomarket is extremely volatile, and its dynamics is constantly changing amid a high degree of uncertainty.

By Leonardo Perez

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