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The SPX index is down 1.61%, influenced by sectors like communication services, technology, and energy. The broader cryptocurrency market is down, with Bitcoin and Ether dropping by 2.64% and 4.36%, respectively in the past 24 hours.
Today’s outperformer is TAO, which jumped 13.1% after introducing Horde SN12 a new ComputeHorde SubNet for enhanced job processing and resource optimization.
Bittensor (TAO), launched in March 2023, is a decentralized marketplace for ML algorithms, where providers and users transact with TAO tokens. It spans over 30 domains and uses a quality-based selection process for solutions. Originally on Polkadot, it moved to its own ML-optimized blockchain in March 2023. Horde (SN12) is a new BitTensor SubNet called ComputeHorde, featuring Validators, Miners, and Executors for job processing. Validators route user requests to Miners, who employ Executors—restricted-access virtual machines—for tasks. Currently focused on server efficiency for rewards, the system will shift in February 2024 to prioritize in-demand resources, aiming to maximize organic traffic and network efficiency.
Check Out the Latest Prices, Charts, and Data of TAOUSDT Perp!
Shortly after its release, the JUP token from the Solana-based decentralized exchange aggregator Jupiter soared to a market capitalization of $914 million, making it the sixth-largest DEX by this metric. Its launch was marked by a massive airdrop to 955,000 wallet addresses, ranking among the top crypto airdrops. With a fully diluted value surpassing that of Uniswap, Jupiter has cemented its status in the DeFi sector. The platform, which accounts for more than 80% of DEX transactions on Solana, is positioned as a leader in pushing for crypto usage, aligning with the "DeFi 2.0" ethos. The launch not only signifies Solana's resurgence but also emphasizes Jupiter's ambition to enhance the practical application of cryptocurrencies through the JUP token.
Date | Report | Period | Actual |
Thu, Feb. 1 | ISM manufacturing | Jan | 47.2% |
The US ISM Manufacturing PMI rose to 47.4 in December 2023, indicating a slight improvement but still reflecting the 14th consecutive month of manufacturing contraction. Production increased, while new orders, employment, and inventories declined. Price pressures eased due to lower energy costs, and supplier delivery times decreased, hinting at a potential positive shift in future economic activity.