Hundreds of “DeepSeek” tokens has been the main talking point of crypto yesterday. Deepseek itself is a Chinese AI startup whose captured global attention after the launch of their cost-effective AI models, DeepSeek R1.
DeepSeek’s AI models are notably cheaper to develop and operate compared to similar models from Western companies like OpenAI.
Reports suggest that DeepSeek R1 was developed for roughly $6 million, a fraction of what competitors might spend, while achieving comparable or superior performance.
DeepSeek has offered open-source models, which lowers the entry barrier for developers and smaller companies to utilize advanced AI technologies. But is DeepSeek really are what they led us to believe?
DeepSeek AI Meme Coin in the Limelight: The Ultimate AI Agent and Crypto Presale to Invest Today
In the wake of this Deepseek hype, hundreds of tokens with “DeepSeek” tickers launched on most major chains. People launched tokens that are not linked to DeepSeek AI, they were just trying to capitalize the hype.
As reported, the bump on DeepSeek’s popularity led scammers to launch scam DeepSeeks. Tokens those are designed to deceive investors into believing they are buying into a legitimate DeepSeek’s AI project shares. One of the DeepSeek token reached a market cap of $50 million before plummeting down, with a trading volume of $150 million in 24 hours, a classic sign of a pump and dump, leaving later investors with significant losses.
Beyond just misleading investors, these scam tokens have led to direct security issues. There have been reports of scam decentralized applications (DApps) mimicking DeepSeek’s official platforms. Obviously, these fake DApps include “Connect Wallet” buttons that could potentially drain users’ crypto wallets upon interaction.
In other news, yesterday, the tech sector, including companies like Nvidia, saw declines as investors questioned the valuation of tech stocks that had benefited from the AI boom, believing DeepSeek’s technology might reduce the demand for high-end GPUs.
Also, there was direct correlations where the news of DeepSeek’s achievements led to a sell-off in AI-related crypto. Tokens associated with GPU-intensive AI projects like Render (RNDR), Near Protocol (NEAR), and The Graph (GRT) saw significant dumps due to concerns over their future relevance in light of DeepSeek’s efficiency. In addition, approximately $230 billion was wiped from the crypto market yesterday, Bitcoin itself fell below $100,000.
WHY ARE BITCOIN AND CRYPTO
DUMPING?IN THE PAST FEW HOURS, BTC IS
DOWN OVER 5%, WHILE LARGE
CAPS ARE DOWN 8%-10%THIS HAS NOTHING TO DO WITH THE
CRYPTO MARKET AND EVERYTHING
TO DO WITH THE US STOCK MARKET.THE US STOCK MARKET IS DUMPING
TODAY, AND IT'S JUST BECAUSE OF… pic.twitter.com/F0TyCgDMro— Ash Crypto (@Ashcryptoreal) January 27, 2025
Today, crypto market is showing sign of it stabilizing after the turnaround yesterday, mainly due to skepticisms around DeepSeek as a company. DeepSeek trained its DeepSeek-V3 model using 2,048 Nvidia H800 GPUs. Following, these GPUs are for the Chinese market due to the US export restrictions. Some industry leaders questioned this claim. Alexandr Wang, CEO of Scale AI, suggested DeepSeek might use 50,000 Nvidia H100 GPUs, a restricted chip model.
So DeepSeek lied about how many GPUs they are using, and now restricted access to only China
So the massive stock market & crypto sell off was due to us believing the CCP built an AI model 1% weaker than chatGPT for 95% cheaper
Have we not learned our lesson from the virus pic.twitter.com/65zvDL2eB4
— borovik (@3orovik) January 27, 2025
Leading to these accusations, DeepSeek is currently closing the gate for global users, and restrict its usage to only Chinese users. With project Stargate commencing and some bigger tech analyst accusing on DeepSeek false claim, tech market like crypto and AI is climbing back up.
MIND, an AI Token to Compete With AI Giants on The Verge of Stargate
Still very early, a new viral crypto – Mind Of Pepe (MIND).
The bullishness for AI tokens has never looked more promising. President Trump announced the monumental $500 billion Stargate project. With an initial $100 billion deployment and plans to invest up to $500 billion over the next four years. One of the largest commitments to AI infrastructure ever. Undoubtedly, this scale of investment signals a strong bullish trend for AI-related assets.
Post Stargate announcement, we’ve seen a significant pumps in AI token with some doubling in value. Token like MIND, who operates as an AI agent is very attractive to investors. As the bull season in the AI sector is ongoing.
MIND is currently in its early Presale phase, priced at $0.0032 per MIND, with $4.1 million raised in under 1 week. These numbers really are showing how strong the market on AI based projects.
Additionally, MIND promises high staking rewards only for presales. Right now, it offers an APY of 563%, a 5x returns in a year just by holding and staking.
A YouTube news channel with over 14,000 subscribers covers how bullish MIND is.
Go to the MIND of Pepe website now, connect your wallet (e.g. Best Wallet), and purchase MIND using ETH or USDT, or even your bank card. Best Wallet users get real-time updates and market insights on MIND, all within the app.
Furthermore, Best Wallet users also have the privilege of seeing MIND tokens in their wallets ahead of the official claim date,
For more information, visit the MIND of Pepe website or follow MIND of Pepe on X or Telegram.
EXPLORE: Crypto Trends For Bullrun – January 2025
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