China, known for its unfriendly approach towards cryptocurrency, has invested $28 million into the Ethereum node infrastructure. The Bank of China, under its investment arm, BOCI, issued tokenized securities on Ethereum in Hong Kong, making it the first Chinese financial institution in Hong Kong to do so.
Avorak AI, the first-ever AI-powered blockchain, can profit from this move as it offers traders tools to navigate the volatile crypto market easily.
Ethereum News
Ethereum, the second-largest blockchain network in the world, shifted from a Proof-of-Work (PoW) consensus to a Proof-of-Stake (PoS) consensus in 2022. The event’s purpose, dubbed ‘The Merge,’ was to improve scalability and lower transaction fees on the network.
An Ethereum node is any computer that runs the software required to interact with the Ethereum network. Nodes communicate with each other to validate transactions and store data about the blockchain.
China invested millions into Ethereum’s node infrastructure and launched tokenized securities on the Ethereum blockchain. The securities were issued under Hong Kong and Swiss Law in partnership with UBS. The move opens opportunities for upcoming projects like AI crypto, such as Avorak AI, to tap into the Chinese market.
What is Avorak?
Avorak is an AI-powered blockchain that aims to simplify crypto trading and develop the blockchain industry further. The project is the first-ever crypto AI in the market and is already making a name in the crypto industry.
Avorak AI offers traders tools that assist in trading, text generation, image generation, and automated market analysis. The project uses machine learning algorithms to simplify crypto trading for users as well as develop exclusive indicators for them.
The Avorak Trade feature employs AI to study the market and develop accurate trading signals for traders. Avorak Trade can automate trades on behalf of users based on information gathered from market analysis over a given period. This eliminates the risks of human error or emotion-driven trading, which often leads to heavy financial losses.
Avorak’s text-generation tool, Avorak Write, helps generate unique and high-quality content using internet scraping methods. Avorak Write content is also plagiarism free, making the feature stand out from other text-generation AIs.
Avorak’s native token is AVRK, used to fuel transactions and reward users contributing to the project’s development. The project is currently at phase 8 of its ICO, and users who purchase AVRK in this stage are eligible for a 3% bonus.
As the ICO event comes to an end, the Avorak team is providing one last bonus event as a show of gratitude to its users. Users who purchase $250 – $495 of Avorak will get a 100% bonus, a purchase of $500 – $1250 will get a 200% bonus, a purchase of $1,255 – $6000 will get a 300% bonus, and a purchase of $6,005 – $1,050 get a 400% bonus. Users who purchase over $10,300 AVRK are eligible for a whopping 625% bonus.
Once a participant makes a purchase, they must send their details to customer care representatives via the project’s official website live chat, Telegram, or Discord to claim their bonuses.
Conclusion
China’s investment in Ethereum shows the country is changing its anti-crypto stance to be more crypto-friendly. This means novel projects like Avorak can tap into the market and profit from it.
Avorak AI guarantees traders profits using machine learning algorithms that eliminate human errors and emotional trading, which results in losses. Experts predict the project will be successful in the Asian market as soon as it gets a foot in.
Learn more about Avorak AI on:
Website: https://avorak.ai
Buy AVRK: https://invest.avorak.ai/register
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