Atomic Wallet – one of the biggest crypto wallet platforms in existence – found itself at the centre of unwanted attention when news broke that it had suffered a shock $35 million hack attack. This equated to just 1% of their clients holdings being stolen, but affected various tokens including Bitcoin, Ethereum, Doge, Matic and more.
Meanwhile, another integral lynchpin of the crypto space, Binance is still in trouble, being sued by SEC for allegedly mishandling billions of dollars, putting the CEO Changpeng Zhao in the firing line. The moral of these stories – investors must always have their fingers on the pulse with cryptos as it’s such a volatile asset space, and they should be prepared to move their funds from exchanges and wallets at a moment’s notice.
On a more positive note, Avalanche, the trailblazing Layer 1 blockchain network, recently broke a record, reaching 1 million active users for the first time, fuelled by the launch of AvaCloud, its revolutionary no-code platform. This impressive milestone firmly establishes Avalanche as a key player in the fast-evolving crypto sphere and demonstrates the platform’s commitment to innovation, paving the way for accelerated growth and potential dominance in the blockchain industry.
Another AI project that is catching the eye is Fetch AI. Their USP is that their system’s algorithms works together with various different AI projects through machine learning to allow all of their network systems to talk to each other and other parties as well. Down -61% in price makes them a very interesting proposition for investors.
So, in contrast to the volatile crypto downsides, is the extremely positive upsides that continue to make the crypto space the hottest place to be for investors right now.
Stock market news – OPEC+ came out on Sunday and said that they have come to an agreement that Saudi Arabia will unilaterally slash output by 1 million barrels a day in July while the rest of the group kept their production levels unchanged. This could be a catalyst for a bullish move in the oil and energy sector which can also cause inflation reports to come in hotter than expected. So no prizes for guessing what that means for investors if there’s less supply but increasing demand?
Meanwhile on the trading floor, some awesome investor prospects broke through involving the likes of Amazon, Salesforce, Microsoft, Tesla and C3AI, all going to prove that even though we are in turbulent times, 2023 is becoming a year like no other for investor opportunities.