Day: January 27, 2025
XRP starts the week with a 10% decline
On Monday, negative sentiment swept through the cryptocurrency market. China’s DeepSeek announcement raised concerns about stricter regulations on cryptocurrencies, causing significant market fluctuations. Bitcoin fell below $100,000, and XRP dropped by up to 10%. XRP traded at $2.8191, losing 10.01% according to the Investing.com Index. This decline marks the largest single-day drop since December 18,
China’s new AI application challenges U.S. dominance
The AI assistant app DeepSeek, created by a Chinese startup, has reached the top of Apple Inc.’s iPhone download charts. This success raises concerns about the United States’ leadership in artificial intelligence within Silicon Valley. Many view the AI model behind DeepSeek as competitive with those from OpenAI and Meta Platforms Inc. Investor Marc Andreessen
DeepSeek Disrupts Tech Stocks Amid Concerns Over U.S. AI Leadership
The global technology sector experienced a jolt on Monday as Chinese startup DeepSeek unveiled its latest AI model. This announcement raised alarms about the United States’ position in the tech landscape. Investors began to reevaluate the high valuations of major players like Nvidia, which has led the AI stock surge due to its advanced chips.