The European Investment Fund (EIF) and the European Commission have launched a new $400 million fund to ensure that the EU keeps up with the US and China in the development of blockchain and artificial intelligence (AI).
The EIF and the European Commission have invested more than $110 million in a program that will make capital available to AI and blockchain companies through venture capital funds or other investors. According to a post, EIF plans to take an indirect part in financing small and medium-sized enterprises.
The European Investment Fund also expects private investors to invest up to $331 million in the project. It also hopes that the fund’s total capital will increase next year. According to Sifted, the fund could grow to $2.2 billion thanks to the investment program.
“Investing in a portfolio of innovative AI and blockchain companies will help create a vibrant community of investors in the EU. By attracting banks, we can increase the volume of investments at the state level,” the EIF report said.
The EU spending on blockchain this year amounted to $674 million and was mainly aimed at research and proof of concepts. According to International Data Corporation, the United States and China spend the most on blockchain development – $1.1 billion and $319 million, respectively.
Technical analysis of Bitcoin (BTC):
Over the past weekend, the price of bitcoin dropped to the support level of $6,500. After that, it turned around and rose to the resistance level of $7,160. We expect the pullback to the support level of $6,800 followed by the continuation of the uptrend. The nearest resistance levels are $7,160, $7,400, $7,600, $7,800. The nearest support levels are $6,800, $6,500.
Technical analysis of Ethereum (ETH):
Over the past weekend, the price of ethereum fell to the support level of $132. After that, it turned around and reached the resistance level of $148. Now, the price of ethereum is $146. We expect the continuation of the upward movement. The nearest resistance levels are $153, $157, $166, $173. The nearest support levels are $145, $137, $132.
Technical analysis of Ripple (XRP):
Over the past weekend, the price of ripple fell to the support level of $0.20. After that, it turned around and reached the resistance level of $0.2220. Now, the price of ripple is $0.2225. We expect the continuation of the upward movement. The nearest resistance levels are $0.2240, $0.2320, $02340. The nearest support levels are $0.2040, $0.20.
