Jupiter's price surged significantly, trading around $1.23 after experiencing a nearly 10% rally on Tuesday. This follows a 7% rise the previous day, underscoring a bullish trend fueled by recent developments. The cryptocurrency's momentum received an additional boost from the company's Catstanbul event, where a buyback and the burn of 3 billion tokens were announced, further supporting Jupiter's positive outlook.
As investors turn their attention to mid-tier US economic data, the EUR/USD pair faces sizable losses, trading below 1.0450 during early European sessions on Tuesday. The demand for the US Dollar remains robust, driven by expectations of aggressive policy easing by the European Central Bank (ECB), which has contributed to the pair's decline.
Meanwhile, GBP/USD is encountering significant selling pressure, trading below 1.2450 early Tuesday. The currency pair halted its three-day winning streak as market sentiments shifted. Factors such as Trump's tariff threats and rebounding US bond yields have provided a considerable lift to the Greenback, impacting other major currency pairs.
In another notable development, several Chinese companies have pivoted towards making their AI model offerings open source, a move that sent shockwaves through the tech sector last week. This strategic shift is expected to disrupt the AI space significantly, with Chinese tech startups positioned to lead this transformation.