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The crypto money market has started the new week badly. Bitcoin fell below 98,000,000, while other cryptocurrencies saw deep declines. One of them was Ethereum. Why did morals fall?
It all started with Dipsec, which deeply affected global markets. Depsec announced that the artificial intelligence model R1, which occupies the weekend agenda, was developed in just two months and with a budget of less than $6 million. These figures pale in comparison to the huge funds allocated to artificial intelligence projects by Western companies.
The possibility that a competitive artificial intelligence solution could be produced at low cost has created anxiety, particularly in the chip sector. One of the most profitable companies in chip sales thanks to the artificial intelligence frenzy, NVIDIA suffered a sharp decline with predictions that the new model would require fewer chips. In pre-session trading, NVIDIA shares lost more than 12 percent, while the negative impact sent other chip companies jumping and sending shock waves on global exchanges.
The Ethereum Foundation continues to sell
The crypto money market was also affected by this situation. Morale, a loss of more than 7%, traded at $3,250, falling to $3,200. Morale, $3K to fall below the fear that it may come down from the Ethereum Foundation for a while amid strong criticism of the sale. According to Turkey, the foundation sold 100 more ETH in the morning.
ETH, TSI at 15.30 got buyers at $ 3 thousand 60.
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