The crypto fear and greed index was leaning more towards fear with the constant moves by financial regulators and the subsequent drop in the prices of cryptocurrency. However, the recent bull runs by Avorak AI and XRP have been good news for cryptocurrency and have led to a shift in the crypto fear and greed index.
XRP: Coming out strong
The XRP token witnessed a huge decline since the prolonged case between its developer, Ripple, and the US Securities and Exchange Commission (SEC), started in 2020. However, recent XRP news has led many users to believe that Ripple will ultimately win in the potential closure of the case in 2023. This has led to the XRP token coming out of its bearish patterns with strong bullish sentiments by many in the crypto market.
Avorak AI: Leading the 2023 AI crypto space
Avorak is a new AI project built on the blockchain. Avorak AI combines AI and blockchain technologies to offer a safe, user-friendly, and highly scalable platform with an extensive list of AI solutions.
The AI crypto space has been expanding in 2023, and analyses on YouTube rank AVRK as an AI crypto gem. The AI crypto project’s solutions have also been a topic of discussion among crypto watchers.
Avorak Trade, the platform’s AI trading bot, recently made predictions on the prices of various crypto tokens. The performance and accuracy of this AI trading tool are expected to increase over time due to deep learning and other AI capabilities. This has led to many crypto traders and investors joining the Avorak ICO event.
Avorak’s ICO, currently in phase 3, is offering AVRK at a discounted price of $0.145 and including an 8% on-top bonus. The AVRK token has had a continued increase in price since the ICO started, attracting more individual and business investments.
The Crypto Fear and Greed Index
The crypto fear and greed index is used to measure the sentiments of cryptocurrency users. It is a numerical index ranging from 0 (extreme fear) to 100 (extreme greed). A higher score on the index suggests that the market sentiment is positive, indicating that investors are more likely to buy or hold cryptocurrencies. Conversely, a lower score suggests that investors are more likely to sell or avoid cryptocurrencies. The increased lawsuits by financial regulators, such as the recent Binance and CFTC case, had led to a decline in the crypto fear and greed index. However, the recent positive developments by XRP and Avorak AI are providing a positive outlook for crypto, leading to a rise in the crypto fear and greed index so far in 2023.
For more information on Avorak AI:
Buy AVRK: https://invest.avorak.ai/register
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