Cena KAITOKAITO

Ritual is going to be the next major token launch to be followed after story, kaito and bera. They are building an execution layer for crypto AI which allow devs to run ML model outputs in smart contracts while managing the computation offchain through network of nodes which would be get paid in ritual tokens in rewards for computation, and proof of computation they would generate. Ritual token should have staking feature as node operators are key part of their infrastructure they are building for onchain AI execution.

The cryptocurrency market is seeing a major pullback today, with Bitcoin, the world’s largest cryptocurrency, falling below $80,000 for the first time since November 2024. This marks a major decline, erasing nearly all the gains Bitcoin made after Pro-crypto President Donald Trump took office. Currently trading at about $79,000 , Bitcoin is down 8.5% in the past 24 hours. Ethereum (ETH) has also taken a hit, dropping over 10% in the same period. Several pieces of negative news have impacted the market, including the Bybit hack, which sent shockwaves through the crypto community. Additionally, broader market uncertainty, including geopolitical tensions and trade issues like the Trump administration’s reintroduction of tariffs on Canada and Mexico, have contributed to the market’s instability. Matt Hougan, Chief Investment Officer at Bitwise Asset Management, discussed the current state of the Bitcoin market and spoke about the ongoing volatility. In an interview with Scott Melker, he recalled key moments of panic in the past, such as the dramatic drop in Bitcoin’s price in July 2024 when it fell from $72,000 to around $55,000. Despite widespread fears at the time, Bitcoin’s price didn’t crash further but instead surged to $100,000. Related: Analyst: Current Crypto Market Correction is Within Historical Norms Hougan said that there’s a similar sense of fear in the market now, with concerns about the broader economy, including challenges faced by traditional stocks. However, he suggested that if earnings reports from major stocks come in better than expected, it could signal that Bitcoin’s market is bottoming out. The Fear and Greed Index, another tool for gauging market sentiment, currently sits at 21, indicating extreme fear. This level mirrors the lows seen last September and August, potentially signaling that the market is due for a rebound. With options expiration approaching, he speculated that the market could see positive momentum, especially by next week. Related: Crypto Whale’s $200K Mistake: Sells KAITO, Misses 284% Surge Despite the short-term fears, Hougan said that the long-term outlook for Bitcoin remains strong. Institutions continue to buy, and influential figures like Michael Saylor are still investing in Bitcoin. Governments are also increasingly looking at Bitcoin as a serious asset. The short-term news may be negative, but the fundamentals of Bitcoin remain unchanged, Hougan concluded. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

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