DOGE futures liquidations reach $32.90M: what does this mean for AltSignals?
- Futures that track the popular cryptocurrency Dogecoin (DOGE) gained $32.90 million in liquidations.
- The price of Dogecoin (DOGE) also surged by over 25.76%.
- AltSignals has gained popularity as it enables trade signals and analytics for Binance Futures.
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The cryptocurrency space experienced a lot of rush and hype surrounding its oldest meme-coin, Dogecoin (DOGE).
The Dogecoin cryptocurrency features the Shiba Inu dog as its mascot, and on April 3, whenever anyone logged in to Twitter from Europe or the United States, they’d see the mascot instead of the traditional bluebird. As reported by Invezz, this was the main catalyst that resulted in a huge spike in price and interest from the community.
Twitter shows a Shiba Inu dog logo instead of its default one
On Monday, April 3, 2023, Twitter changed the blue bird logo on the website’s homepage and loading screen with an image of the Shiba Inu dog.
This left many to associate the image with the Dogecoin (DOGE) cryptocurrency, after which the market experienced a huge change.
Specifically, the Futures that track the popular Dogecoin (DOGE) cryptocurrency got $32.90 million in liquidation within 24 hours after this change, a move not commonly seen based on data from Coinglass.
The longs, bets on, shorts, and best against were impacted almost equally. Out of them, longs experienced $14.41 million in liquidation, while shorts experienced $18.49 million.
The number of unsettled futures contracts saw a spike to $580 million.
Experts claim it could impact crypto futures
Most of these liquidations were a direct result of the social media platform Twitter’s change of their logo.
Twitter Chief Executive Officer Elon Musk commented on this move in numerous tweets, noting that it was a late April Fool’s joke.
It is important, however, to note that this move is limited to users located geographically in Europe or the United States, as Twitter users in other regions remained seeing a blue bird logo.
However, this event showcased the appeal and overall utility of trading futures, where AltSignals can provide a lot of value.
AltSignals can see a higher level of utility
AltSignals is a project that provides new opportunities for many traders on a global scale by introducing numerous technologies, including machine learning (ML), artificial intelligence (AI), natural language processing (NLP), and advanced sentiment analysis to enable them an additional level of functionality. It is also leading the way in AI-powered algorithms.
Some of the most significant features behind AltSignals include a fully automated trading capability that operates 24/7 and provides users with a high level of accuracy and enables them to manage their risk.
There is also advanced sentiment analysis. This means that users can get trade signals and analysis for Binance Futures, Forex, and Tradingview Algos.
ASI is the native cryptocurrency behind the platform, fills the responsibility of being the membership currency for the ecosystem, and can be used to access numerous AI-related services throughout the platform.
Additionally, just by holding ASI as a token within their cryptocurrency wallet, users can also gain early access to ActualizeAI.
ActualizeAI is an in-house developed tool that utilizes AI to help find patterns within the market data and provide predictions, through which traders can make future trades with as much information as possible.
This means that ActualizeAi can learn about the general sentiment analysis for a suite of digital assets, forex, futures, and traditional securities and utilize this information to make the most accurate market predictions, enabling traders to capitalize on their future investments as closely as possible.
The project was originally established in 2017 and developed within a profitable business with a committed community that acts on and discusses the signals.
ASI represents a solid investment opportunity
It is clear that the blockchain space has seen a high level of utility. The most recent event of Dogecoin futures liquidations reaching $32.90 million is an indication that there is a large market and that cryptocurrency enthusiasts are here to stay, even despite a bearish beginning of the year.
As for the ASI token, the native token behind AltSignals, it is up to each individual investor to analyze their overall goals and expectations and know what they are getting into before investing.
The token will not only supercharge the AI capabilities of the AltSignals revolutionary algorithm but also has the ability to develop a suite of tools, and insights, all of which implement natural language processing (NLP) and sentiment analysis.
Numerous factors need to be taken into consideration. This includes how much investors believe in the future of artificial intelligence (AI) and tools that utilize it, to how much future trading of futures or other markets can occur.
With the increased interest in AI, and the overall appeal of cryptocurrency trading due to its volatility, getting the proper predictions can benefit millions of traders globally, increasing the overall appeal and utility of AltSignals.
As more traders and investors begin accumulating ASI, it will increase in utility and value. Any investor and trader interested in getting into the project early can learn about the AltSignals presale here.
All of these aspects are pushing the case for the ASI token forward and are making it an appealing investment opportunity for anyone looking to be on the bleeding edge of blockchain innovation, and it provides them access to a unique AI-drive ecosystem that can provide numerous benefits to the earliest adopters.
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