🤖 Saudi Arabia Wants to Join the AI Battle Against China and USA

Happy Monday dear subscribers! Today we’ll be talking about Saudi Arabia’s AI battle!

In today's bulletin, we are covering:

• Surfing the Market, with analysis about TAO and the AI Index

• Don't miss the News about Binance Listings and Saudi Arabia’s AI plans

• ALLO is under the spotlight.

• A short article about What the US Dollar Index is (DXY).

Following TAO closely, keeps pushing non stop and getting closer to the main downtrend resistance.

Looking absolutely primed, on time for the upgrade they will launch by 14th Feb 🙌

Following with the AI Index analysis, we can see how it's also bouncing with strength and getting closer to the main downtrend resistance:

CZ Criticizes Binance’s Token Listing Process as “Broken”

Binance founder Changpeng "CZ" Zhao expressed concerns about Binance’s token listing process, calling it “a bit broken” due to price fluctuations on decentralized exchanges (DEXs) before listings go live. He highlighted the short four-hour window between announcement and listing as a potential issue.

• Binance’s rapid listing process leads to price spikes on DEXs before centralized exchange (CEX) trading begins.

• CZ is unsure of a solution but warns traders to beware of price volatility.

• His comments were sparked by the listing of TST, a memecoin that gained traction after appearing in a BNB Chain video tutorial.

• Despite CZ’s public disassociation from TST, his comments inadvertently fueled its popularity.

• TST surged 38% after its Binance listing, reaching a $185.9 million market cap.

• CZ clarified he is not involved in Binance’s listing decisions.

Saudi Arabia Unveils $14.9 Billion AI Investment Plan

Saudi Arabia has announced $14.9 billion in AI investments during a tech conference in Riyadh, partnering with global tech giants such as Google Cloud, Lenovo, Alibaba Cloud, Qualcomm, and Salesforce to establish itself as a major AI hub.

• Saudi Arabia is heavily investing in AI, emerging tech, and cloud computing to boost innovation and local development.

• Aramco signed a $1.5 billion deal with Groq to enhance AI-powered cloud computing.

• Alat and Lenovo committed $2 billion to build an AI and robotics manufacturing facility in Riyadh.

• Salesforce, Databricks, Tencent Cloud, and SambaNova pledged additional investments totalling over $1 billion.

• Google, Qualcomm, and Alibaba Cloud are launching localized AI initiatives in Saudi Arabia.

• Tether partnered with UAE-based Reelly Tech to enable property transactions using USDT stablecoin.

ALLO

The Origins:

ALLO is a platform that tokenizes real-world assets (RWAs), allowing users to trade, stake, and borrow against them. The project's mission is to provide a decentralized and transparent framework for asset ownership and transactions while increase liquidity, accessibility, and security in the financial sector. The project fits into the narrative of RWA tokenization, which aims to bridge the gap between traditional assets and digital markets (TradFi x DeFi).

The Operative:

ALLO's architecture is built on blockchain technology, utilizing its utility token, $RWA, to facilitate transactions and governance while ensuring secure, transparent, and immutable records. By tokenizing real-world assets, ALLO aims to address issues of illiquidity and inaccessibility. The platform provides a different way for users to interact with assets, offering opportunities for investment and wealth creation. ALLO is built to be blockchain-agnostic, but it has a strong presence on the Algorand blockchain, among others.

Summary & Competitors:

The project secured $102.75M fundraising so far in three different rounds** by the end of 2024** with YZi Labs (Prev. Binance Labs), Morningstar Ventures, NGC Ventures and Gate Labs as the most relevant investors. ALLO competes with other platforms that specialize in tokenizing real-world assets, such as RealT, Tokeny or Ondo for example. The RWA tokenization sector, is gaining momentum as it offers a unique opportunity to unlock the value of traditional assets and make them more accessible to a broader audience. As the sector continues to evolve, the new projects play a key role in defining the standards and best practices for RWA tokenization, potentially changing the way we invest, own, and interact with real-world assets.

What is the US Dollar Index (DXY)

One of the most relevant indicators when analyzing markets as a whole is the US Dollar Index, better known as DXY. Let's see what it is, why it's crucial in the global economy, and how to interpret it to optimize our analysis.

What is it?

A simple definition is that the US Dollar Index ($DXY) is an index that measures the performance of the US dollar against a basket of foreign currencies.

It was developed by the Federal Reserve in 1973 after the US left the Gold Standard. In other words, it represents the relative value of the US dollar versus other currencies, indicating how strong or weak the dollar is compared to them.

Since it is an index, it consists of different currencies with varying weights (not all have the same level of importance):

• Euro: 57.60%

• Japanese Yen: 13.60%

• British Pound: 11.90%

• Canadian Dollar: 9.10%

• Swedish Krona: 4.20%

• Swiss Franc: 3.60%

Why is it important?

It goes without saying that the US dollar is the strongest currency in the world and the global benchmark 🇺🇸 Knowing its relative strength against other currencies is key not only for financial markets but also for international trade.

It is mainly used by companies looking to hedge against dollar fluctuations, as well as traders aiming to capitalize on movements in the USD price relative to other currencies.

How to interpret it?

When the DXY rises, it means the US dollar is strengthening against other currencies, meaning one dollar can buy more of those currencies than before. Conversely, a decline signals dollar weakness and reduced investor demand for it.

Interest rate hikes and cuts in the US directly impact this index. After every FED meeting, we see how these decisions immediately influence $DXY movements. Additionally, during periods of market turbulence, funds often flow out of risk assets and into the dollar as a safe haven.

• If we analyze commodities they tend to experience downward pressure on prices when the DXY strengthens and vice versa.

• For risky assets like stocks or cryptocurrencies the behavior is similar. A strong dollar usually decreases risk appetite, prompting investors to move toward it for safety.

For all these reasons, watching the DXY is essential as another indicator of the global market landscape helping investors determine whether it’s the right time to invest in a particular asset.

As long as the US remains the world's leading economic and military power this index will serve as the benchmark for currencies and trade. However, nothing is guaranteed in the future, at one point, the British pound was the world’s dominant currency, yet today it plays a secondary role.

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