Rexas Finance (RXS) is emerging as a strong contender in the cryptocurrency market, currently valued at $0.15 and raising $28.67 million in its presale phase. Analysts predict RXS will surpass Solana and XRP, driven by its innovative approach to asset tokenization and significant investor interest. As Solana struggles to reach a $600 valuation to reclaim dominance over XRP, RXS's unique offerings position it for substantial growth and market appeal.
Yeti Ouro (YETIO) is gaining traction as a promising altcoin, outshining Dogecoin (DOGE) and Cardano (ADA) with its unique gaming ecosystem and utility. The project has raised over $1.25 million in presale and features a play-to-earn racing game, staking rewards, and a token burn strategy to enhance value. Analysts predict Yeti Ouro could deliver significant returns this December, positioning it as a compelling investment opportunity.
Dogecoin has experienced a significant decline, dropping 20.70% in the last 24 hours and 32% over three days, largely due to Bitcoin's 11.25% price drop. The total value locked in DOGE has decreased by 32.65%, and open interest has fallen nearly 50%. While the market shows potential for recovery, risks remain high, and traders are advised to exercise caution.
Base is set to surpass Solana in DeFi metrics by 2025, capturing around 40% of Solana’s DEX volumes and total value locked (TVL). Its advantages include a focus on major assets, a strategic partnership with Coinbase for asset tokenization, and lower transaction costs, attracting liquidity from Ethereum.
The PUK report on the Credit Suisse (CS) collapse reveals a decade of mismanagement, with the bank incurring losses of 3.2 billion francs while executives received 32 billion francs in bonuses. It criticizes the ineffective banking supervision by FINMA, hindered by political interference from right-wing parties. Proposed measures to prevent future crises echo previous rejected reforms, raising doubts about genuine change in the financial sector's oversight.
The Parliamentary Commission of Inquiry has attributed the Credit Suisse crisis primarily to management missteps, leading to a significant loss of confidence and jeopardizing the bank's existence in March 2023. While the authorities were not found at fault, the ICC criticized the effectiveness of FINMA's supervision and the hesitancy in developing "too big to fail" legislation, highlighting the need for improved communication and cooperation among financial stability authorities. The report underscores the urgency for action regarding systemically important banks and the necessity for clearer regulations.
Bitwise has launched a Solana Staking ETP in Germany, offering an annual percentage yield of 6.48%, surpassing competitors like 21Shares. While U.S. regulatory challenges persist, optimism grows for future spot ETF approvals as demand for Solana-based products increases in Europe. The Solana blockchain continues to gain traction for its efficiency in DeFi and gaming, positioning it as a strong alternative to Ethereum.
Münchener Rück's share price fell by 1.4% to €494.90 following UBS's downgrade from "Buy" to "Neutral," despite a raised price target of €555. The stock is currently 4.8% below its 52-week high of €526.00 but remains 24% above its low of €374.10. Analysts project a positive outlook with an average target of €531.50 and expected earnings per share of €42.20 for 2024, alongside an increased dividend of €16.47.
The Parliamentary Commission of Inquiry's report on Credit Suisse's collapse highlights the need for FINMA to enhance its supervisory role, criticizing the Federal Department of Finance for inaction prior to the crisis. Federal Councillor Karin Keller-Sutter's decisive leadership is credited with averting a broader financial crisis, while calls for systematic supervision of systemically important banks are emphasized to prevent future failures. The FDP insists on learning from this crisis to ensure Switzerland's financial stability and prosperity.
Stock futures narrowed losses following a better-than-expected inflation reading, with the Dow down 0.3% and the S&P 500 and Nasdaq down 0.5% and 0.8%, respectively. Large-cap tech stocks fell, with Nvidia, Apple, and Microsoft among the decliners, while Nike dropped 6% after its earnings report. FedEx shares surged over 8% after announcing plans to spin off its freight business, overshadowing a lowered outlook.
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