Ethereum Price Plunge Sparks Major Whale Accumulation - Should You Buy ETH and This Emerging Crypto?
Ethereum's sudden price drop triggers massive whale activity as deep-pocketed investors swarm the market.
WHALES ON THE HUNT
While retail investors panic-sell, Ethereum whales are accumulating positions at discounted prices. The smart money moves counter to market sentiment - buying when fear peaks and selling during euphoria.
NEW CONTENDER EMERGES
Alongside ETH's volatility, a fresh cryptocurrency enters the scene promising innovative features. The timing couldn't be more strategic - launching during market turbulence when investors seek alternatives.
CALCULATED GAMBLE OR FOOL'S ERRAND?
Following whale movements can be profitable but carries risks. Remember - whales eat plankton for breakfast, and sometimes retail investors become the main course in this feeding frenzy of digital assets.
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The revelation comes at a time Qualcomm is locked in a protracted legal dispute with Arm Holdings over an alleged license breach. On Wednesday, Qualcomm announced that it had secured a “complete victory” in the case before a district court, but Arm vowed to “immediately file an appeal” against the judgment. This is even as Arm, about a year ago, reportedly sought to cancel its licensing agreements with Qualcomm.
Qualcomm Shifts to Lumex?
Meanwhile, the latest update also follows Arm’s launch of the Lumex AI-powered chip design platform earlier this month. Lumex is a series of advanced chip designs optimized for AI workloads on mobile devices.
The platform is built on the ninth generation of Arm’s computing architecture, specifically the ARMv9.3-A architecture. Arm has said the platform enables advanced AI software to run directly on devices without needing cloud support.
Qualcomm Races for PC Chip Market
Meanwhile, Qualcomm’s shift towards ARM’s computing architectures comes a few days after the chipmaker, known for its Snapdragon processors for mobile phones, unveiled its “unmatchable” new chips for personal computers. Qualcomm has recently delved into the PC market, launching a series of chips for both PCs and smartphones, including the personal computer chip Snapdragon X2 Elite.
This places it in a position to compete against electronics consumer giant Apple (AAPL) and Taiwan-based smartphone chipmaker MediaTek. Both companies are believed to also rely on Arm’s technology for the design of their own custom chips.
Earlier this year, Apple unveiled the M3 Ultra, which it called “the highest-performing chip” it has ever created. The company has been making its own custom chips after shelving its previous licensing model.
Is QCOM a Good Buy Now?
On Wall Street, Qualcomm’s shares currently have a Moderate Buy consensus rating, as seen on TipRanks. This is based on 10 Buys, seven Holds, and one Sell assigned by 18 Wall Street analysts over the past three months. Moreover, the average QCOM price target of $181.67 indicates a potential increase of 9.85%.
