Bitwise has launched its Solana-based crypto-staking exchange-traded product (ETP), BSOL, in Europe, offering a 6.48% annual yield, surpassing competitors like 21Shares. This move follows the company's plans for a Solana ETF in the U.S., amid evolving regulatory landscapes. With significant growth in 2024, Bitwise aims to provide superior staking returns while capitalizing on Solana's potential.
A veteran trader, known for predicting the May 2021 crypto market collapse, suggests Bitcoin is poised for a significant price movement. Currently trading at $106,124, Bitcoin is coiling within a narrow range, with potential to reach $190,000, as indicated by Fibonacci extension levels. The trader's analysis highlights a pattern reminiscent of the 2021 bull market cycle top, signaling an impending breakout.
Novartis AG is highlighted as one of the oversold global stocks to consider amid significant market shifts following the 2024 US Presidential Election, where President-elect Donald Trump's victory prompted a surge in banking and energy sectors. His proposed tariffs on China could impact global trade dynamics, leading Chinese leaders to contemplate economic stimulus measures to counteract potential fallout. The situation raises concerns about China's economic growth targets amidst changing international trade relations.
Investors are anticipating a quarter-percentage point interest-rate cut from the Federal Reserve, with U.S. stock futures rising after the Dow's nine-session losing streak. Honda and Nissan are in merger talks, while Micron Technology's stock is up ahead of its earnings report, and Nvidia shares are rebounding after a recent decline.
Bitwise has launched a Solana Staking ETP in Europe, trading under the ticker BSOL, which offers investors an annual yield of approximately 6.48% and a low management fee of 0.85%. This product, developed in partnership with Marinade, aims to attract investors seeking staking rewards, enhancing Bitwise's presence in the Solana market. As US investors await similar opportunities, the collaboration could signal a shift in the landscape for Solana staking in the US.
UBS Group AG has reduced its stake in Equals Group Plc to below 5%, exempting it from detailed reporting obligations. This reduction may diminish UBS's influence over the company, potentially affecting market dynamics and stakeholder relations. Equals Group Plc specializes in payment solutions and financial management services, aiming to enhance efficiency and manage currency risks.
The Federal Reserve is expected to announce its third interest rate cut of the year, lowering the target range to 4.25-4.50%. Investors will closely watch the dot plot for future rate expectations and Fed Chair Jerome Powell's comments on economic policies under President-elect Trump, as resilient growth and inflation concerns shape the outlook. A deceleration in rate cuts is anticipated for 2025, with opportunities for investors in US equities and alternative investments amid potential market volatility.
Stocks are poised for a rebound as the Dow aims to end its longest losing streak since 1978, with futures for the S&P 500 and Nasdaq showing gains. The Federal Reserve's upcoming interest rate decision is in focus, with expectations of a third consecutive rate cut. Healthcare stocks have notably declined, particularly UnitedHealth Group, while Nvidia has seen a slump despite a premarket rise.
Dogecoin has experienced a three-day price decline, dropping nearly 20% from its monthly high to $0.3787, as profit-taking and negative sentiment take hold. A significant movement of 5.8 billion DOGE tokens indicates investor caution, while technical analysis suggests a challenging short-term outlook, with crucial support at $0.3660 and resistance at $0.4073. However, long-term prospects remain bullish, supported by a golden cross pattern and potential for a breakout above $0.4842, which could lead to a rise towards $1 or even $4.
Polygon has accused Aave of monopolistic practices, claiming the DeFi platform is stifling innovation and using intimidation tactics against competitors like Morpho. Aave's founder defended the protocol's actions as necessary for user protection, rejecting allegations of anti-competitive behavior. Polygon's leadership emphasized their commitment to a decentralized and competitive DeFi ecosystem, vowing to resist any actions that undermine Web3 principles.
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