• The US government is preparing to vote on a debt ceiling agreement.
• Crypto assets have been rising as investors diversify and hedge their risk against the uncertainty of the vote.
• AI tokens such as Ocean (OCEAN), SingularityNET (AGIX) and Matrix.ai (MAN) have seen particularly strong gains in the last several hours.
Debt Ceiling Agreement
The US government is due to vote on a debt ceiling agreement, with Republican lawmakers expressing discontent at what they perceive as a ‚t*rd sandwich‘. If the deal is not voted on and passed by June 6th, it could result in the US defaulting on its debt for the first time in history.
Crypto Assets
In response to this uncertainty, crypto assets have been rising due to investors using them as a form of diversification and hedging their risk against potential losses. Bitcoin and Ethereum are performing strongly, but it is some of the more fundamentally sound tokens that are making even bigger gains.
AI Tokens
AI tokens are seeing especially strong performance today, with Ocean (OCEAN) rising 14%, SingularityNET (AGIX) 13% and Matrix.ai (MAN) 30% in just two hours. These tokens may be forming flag patterns which could indicate further upward momentum if they break through certain trendlines.
Risk Management
Crypto assets provide a way for investors to manage risk during uncertain times like these when traditional sources of investment may not be able to provide sufficient protection from possible losses or volatility in markets.
Disclaimer
This article should not be taken as legal, tax, investment or financial advice and readers should conduct their own research before taking any action based on information provided here.