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The ChiNext index rose by more than 1%, with memory chips, semiconductors, and gaming sectors leading the gains.On July 21st, Z.ai announced the completion of a 1GW-level domestically produced AI computing power data center, utilizing entirely domestically produced AI chips. Simultaneously, Z.ai also officially completed its acquisition of XCore Sigma, a domestic AI heterogeneous computing power software company. XCore Sigma originated from the Compiler Laboratory of the Institute of Computing Technology, Chinese Academy of Sciences, and has long been deeply involved in heterogeneous computing power software stacks and compiler optimization, considered one of the top AI infrastructure teams in China. Sources indicate that these two moves respectively fill two key gaps in computing power supply and release capabilities. The former provides the computing resources needed for large-scale model training, while the latter improves the utilization rate of heterogeneous chips, reduces inference costs, and enhances model deployment efficiency through basic software capabilities such as compilers, runtimes, and inference engines.On Tuesday, July 21, the Hang Seng Index opened 7.49 points higher, or 0.03%, at 25,150.54; the Hang Seng Tech Index opened 3.51 points higher, or 0.07%, at 4,755.66; the H-share Index opened 0.71 points lower, or 0.01%, at 8,381.19; and the Red Chip Index opened 4.19 points lower, or 0.1%, at 4,069.11.Hong Kong stocks opened higher, with the Hang Seng Index up 0.03% and the Hang Seng Tech Index up 0.07%. Chip, PCB and star tech stocks led the gains, while oil stocks opened lower. Zhipu (02513.HK) opened up 4.44%.Hang Seng Index futures opened 0.29% higher at 25,225 points, a premium of 82 points.

DOGE Eyes a Return to $0.0850 to Aim for $0.090 as FTX Contagion Declines

Daniel Rogers

Nov 23, 2022 15:37

截屏2022-11-23 下午2.24.11.png 

 

On Tuesday, both Dogecoin (DOGE) and shiba inu coin (SHIB) snapped two-day losing streaks. FTX contagion risk diminished as word of FTX cash holdings and investor interest in FTX assets spread. However, technical indications remain gloomy, with exponential moving averages (EMAs) predicting additional declines.

 

On Tuesday, dogecoin (DOGE) gained 5.23 percent. Reversing Monday's loss of 2.99%, DOGE ended the day at $0.0785. Notably, DOGE closed the day below $0.0800 for the third session in a row.

 

The mid-morning low for DOGE was $0.0729. Avoiding the First Major Support Level (S1) at $0.0715, DOGE climbed to a high of $0.0796 in the early afternoon. At $0.0774, DOGE surpassed the First Major Resistance Level (R1) before retreating. However, a late surge caused DOGE to surpass R1 and close the day at $0.0785.

 

You should only trade with capital that you can afford to lose while trading derivatives. The trading of derivatives may not be suitable for all investors; thus, you should ensure that you fully comprehend the risks involved and, if necessary, seek independent counsel. Before entering into a transaction with us, a Product Disclosure Statement (PDS) can be received through this website or upon request from our offices and should be reviewed. Raw Spread accounts offer spreads as low as 0 pips and a commission rate of $3.50 per 100,000 USD traded. Spreads on standard accounts begin at 1 pip with no additional commission fees. CFD index spreads begin at 0.4 points. This information is not intended for inhabitants of any country or jurisdiction where distribution or use would violate local law or regulation.

 

On Tuesday, the price of Shiba inu coin (SHIB) increased by 4.76 percent. SHIB closed the day at $0.000000881, reversing Monday's decline of 4.21%.

 

In line with the larger market, SHIB reached a low of $0.00000817 during midmorning. Finding support at the First Major Support Level (S1) at $0.00000816, SHIB surged to a high of $0.00000883 by early afternoon. At $0.00000873, SHIB surpassed the First Major Resistance Level (R1) and closed the day at $0.00000881.

 

FTX contagion risk diminished on Tuesday, providing assistance to DOGE, SHIB, and the broader market. Updates on FTX's assets revealed a substantial cash position, which would mitigate the impact of the company's bankruptcy on its creditors.

 

Reports that Justin Sun of Tron and Brad Garlinghouse of Ripple are interested in FTX assets generated additional support.

 

Nonetheless, Twitter news remained unfavorable for DOGE. There was no new information on Twitter's resumption of the crypto integration project that would promote DOGE adoption.

 

However, investor sentiment increased significantly this morning. Risk of FTX contagion remains the primary motivator. Until the court reveals who FTX's creditors are, downside risks will persist. On Tuesday, the bankruptcy judge ruling over FTX decided to redact the identities of FTX's creditors.

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