Avorak ai

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The cryptocurrency market is no stranger to volatility, but the recent USDC (USD Coin) loss of peg has sent shockwaves through the industry. Many traders and crypto users are wondering whether the recent advancements in AI can help them prepare for and handle such sudden market shifts.

The SVB collapse

Silicon Valley Bank (SVB), a financial institution that specialized in the provision of credit facilities, investment management, and corporate banking solutions to technology-based entities, collapsed on 10th March. This was triggered by a massive panic among its users, which resulted in an unprecedented bank run that led to the loss of a large portion of its deposits. SVB’s eventual shutdown by the California Department of Financial Protection and Innovation as a result of this financial hardship has had far-reaching implications on various spaces, including the crypto community.

USDC loses its peg

Amidst SVB’s collapse, Circle, the developer of USDC, stated that the project had USDC reserves in the SVB bank. This caused widespread speculations among its users, leading to withdrawals, and subsequently a drop from the $1 value. As a stablecoin, USDC is supposed to maintain a 1:1 peg ratio with the U.S. dollar, and the stray far from $1 suggests concerns about its financial footing.

What is Avorak AI?

Avorak is an AI project running on the blockchain. It combines these technologies to offer solutions to traders, content creators, and many other occupations. The AVRK token is used to access these Avorak services, and it is currently available in phase 2 of its ICO at $0.105.

Recent YouTube videos by AlienCrypto and Crypto Epoch highlight the list of products, services, and advantages offered by Avorak AI. For example, content creators can benefit from Avorak’s autocorrected, edited, and plagiarism-free texts. Avorak also offers language-to-art models that ensure limitless output and automated video and image mechanisms.

How can Avorak AI help traders during this crisis?

The collapse of SVB and the resulting USDC peg loss highlights the importance of having reliable and efficient trading tools during a crisis. This is where Avorak’s AI trade bot comes in. Avorak’s AI-powered trading strategies can quickly identify opportunities and capitalize on profitable trades with speed and accuracy. The simplified command line input and programmable script make it accessible to both large and small-scale traders. Additionally, Avorak Trading’s advanced algorithms and indicators enable it to recognize patterns and detect anomalies in data sets, providing greater insight into potential problems before they occur. In addition to linking to services like TradingView for easy visualization, Avorak’s trading APIs will have the ability to generate a large set of indicators for traders, using both overlays and notification systems to alert users of trend or pattern changes.

The loss in peg in USDC is similar to the events that led to the fall of TerraUSD (UST) in May last year. Avorak’s technologies such as machine learning allow traders to have more sophisticated AI trade bots that continue to evolve as they learn from past experiences. Therefore, with Avorak AI, traders can have the confidence and tools to navigate even the most volatile markets.

 Conclusion

The recent loss of peg by USDC, a popular stablecoin, and the collapse of Silicon Valley Bank (SVB) has sent ripples across the crypto market. These events highlight the vulnerability of the crypto ecosystem and the need for tools that can help traders during such crises. With its ability to analyze complex market data and provide actionable insights, Avorak AI can help traders navigate even the most challenging market conditions, making it an invaluable asset in the world of trading.

Want to learn more about Avorak AI?

Website: https://avorak.ai
Whitepaper: https://avorak-labs-and-technology.gitbook.io/avorak-a.i-technical-whitepaper/

*This article was paid for. Cryptonomist did not write the article or test the platform.