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Cryptocurrency prices did well during the weekend as the recent sense of fear among investors faded. The Beam token rose by over 16% on Sunday while Akash Network (AKT), Artificial Superintelligence Alliance (FET), and Terra Classic (LUNC) jumped by double digits. 

Most big coins were also in the green, with Bitcoin, Ethereum, and Solana rising by over 2% from Friday. Meanwhile, traders are still focusing on Bitbot, the upcoming Telegram trading bot that had a highly successful token sale. 

There are a few reasons why the prices of most digital coins is rising. First, data shows that the crypto fear and greed index has moved from the fear level of 35 to the neutral point of 55. This trend means that it could rise to the greed zone of 60. In most cases, cryptocurrencies do well when there is a sense of greed in the market.

Second, the coins rose as hopes jumped that more governments will embrace these digital coins. In the United States, Donald Trump has pledged to maintain the country’s Bitcoin holdings, which stands at over 213k. There are also signs that he will agree to setting it as a country’s reserve.

Last week, Russian President Putin signed into law a bill that legalized Bitcoin and mining in a major change of tune. Analysts believe that China could now move to unban these coins, a move that would be positive for the coins. 

Third, there are signs that the Federal Reserve will start cutting interest rates in the next meeting in September. That’s because the labor market has deteriorated while inflation has continued dropping in the past few months. 

Federal Reserve rate cuts would trigger more gains among risky assets like stocks and cryptocurrencies as we saw in 2021. 

Meanwhile, traders are watching at BitBot, the upcoming Telegram bot that raised millions of dollars in a highly successful token sale event. 

The developers have now opened the project to claims ahead of the anticipated exchange listings process. 

For starters, BitBot is a company that seeks to marry three fast-growing industries: crypto, Telegram, and artificial intelligence. Cryptocurrencies are now valued at over $2.3 trillion and the sector is continued to boom.

Telegram has become a big industry, helped by the ongoing tap-to-earn and other gaming platforms. Some of the most notable players in the industry are Hamster Kombat, TapSwap, Catizen, PixelSwap, and Notcoin.

The network is also at the intersection of artificial intelligence (AI), which has disrupted all industries. In particular, the application aims to become the biggest Telegram bot for the financial industry. It will provide trading signals across other industries like forex, crypto, and commodities.

BitBot’s key benefit is that it is non-custodial, meaning that users funds will be safe since the developers will not have access to the funds. You can learn about BitBot here.

The post Terra Classic, Beam, Akash prices rise as focus shifts to BitBot appeared first on Invezz

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