Ever since Cardano deployed smart contract integration earlier this year, the network has been buzzing with on-boarded projects and development from the community. Its native token ADA has also grown significantly during this time owing to its increased uses cases amongst creators and developers building on the network. One of the key areas Cardano has […]
Category: Stocks Watch
Cryptocurrency miners suffer amid major energy crunch in Kazakhstan
Cryptocurrency miners in Kazakhstan are facing widespread electricity shortages amid a surge in mining, as reported by the Financial Times. Kazakhstan has been grappling with an overloaded energy grid as miners flock in from China, which cracked down on crypto earlier this year and banned crypto-based transactions in September. According to the Financial Times, Kazakhstan’s […]
Here’s what the Black Friday carnage may mean for the stock market’s trade Monday, analysts say
The new, fast-spreading B.1.1.529 strain of coronavirus declared a variant of concern by the World Health Organization roiled global markets on Black Friday, raising concerns about how the economy and Wall Street may perform in the coming week, following a selloff that wiped out November gains for the S&P 500 index SPX, -2.27% and the […]
Weekly Market Review – November 27, 2021
Stock Markets Trading was shortened for the week due to the Thanksgiving holiday, but not before a sharp sell-off on news that a possibly more contagious and deadly coronavirus variant was spreading in South Africa. This new strain, dubbed the Omicron variant, has not yet been fully assessed as to whether it could effectively evade […]
Fintonia Launches Two Bitcoin Funds For Professional Investors in Singapore
Singapore’s Monetary Authority of Singapore (MAS) has greenlighted two Bitcoin-focused funds aimed at institutional investors. To cater to the rising demand for digital asset funds, the Singaporean fund manager Fintonia Group has announced the launch of two institutional-grade funds tracking the performance of the world’s largest cryptocurrency. Fintonia Bitcoin Physical Fund and the Fintonia Secured […]
Market strategists split on ‘buying opportunity’ after post-Thanksgiving selloff
The Dow Jones Industrial Average’s (^DJI) worst daily plunge of the year sparked a split among market strategists on wether Friday was a good buying opportunity. The index closed down more than 900 points, while the broader S&P 500 (^GSPC) average declined 2.27%. Energy, financials and industrial stocks led the markets lower amid concerns of […]
El Salvador Buys 100 More Bitcoins as Crypto Market Falls
The government of El Salvador bought 100 more bitcoin, President Bukele tweeted on Friday, while the price of the largest crypto currency by market-cap fell near $54,000. “El Salvador just bought the dip. 100 extra coins acquired with a discount,” Bukele said. Bitcoin price fell about 8% on Friday around $54,237, as broader markets tumble on new COVID-19 […]
Why Oil Stocks Plunged on Friday
Key Points A new coronavirus strain has renewed fears of an economic slowdown. Potential travel restrictions, among other things, sent oil prices tumbling. Oil market players now are focused on a big event on Dec. 2. What happened Oil stocks plunged this morning, and there was a lot more to the rout in the oil and […]
Is the stock market open Thanksgiving?
The equity markets in the U.S. will be closed Thursday for Thanksgiving. There will be trading in the futures markets – including stocks, oil and gold – until 1 p.m. ET. Futures trading will resume at 6:00 p.m. The bond market will be closed, so there will be no trading in U.S. Treasuries. When Wall Street goes […]
Asia-Pacific stocks mixed; Bank of Korea announces rate hike
SINGAPORE — Shares in Asia-Pacific were mixed on Thursday as investors reacted to the Bank of Korea’s rate decision. South Korea’s Kospi dipped 0.47% to close at 2,980.27 after the Bank of Korea raised its policy rate by 25 basis points to 1%, a move that was largely expected by analysts in a Reuters poll. […]
The Bank of Canada should issue a digital currency: C.D. Howe Institute
As cryptocurrencies grow in popularity, the C.D. Howe Institute says the Bank of Canada should issue a digital dollar to take advantage of advances in payments technology. The think tank says the digital currency should be a stablecoin, in a new report. Unlike other cryptocurrencies like bitcoin, stablecoins are linked to fiat currency or conventional […]
Bitcoin overtakes Paypal on value transferred, sets sights on Mastercard: Report
The Bitcoin network already processes more volume by dollar value than Paypal and the largest decentralized cryptocurrency network in the world by market cap could outstrip Mastercard by as early as 2026. A Nov. 25 report from market intelligence platform Blockdata titled When might the Bitcoin network process volumes like Mastercard and Visa? points out […]