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Swiss Life Asset Managers cautions that the recent stock market rally, driven by the "Magnificent 7" US tech giants, may be unsustainable and overvalued. Despite the excitement around AI, its actual impact on growth is uncertain, and significant hurdles remain. A correction is anticipated, but the outlook for 2025 remains positive for many equity segments.
Ripple's RLUSD stablecoin is set to be listed on more major exchanges imminently, according to President Monica Long. Launched on December 17, RLUSD is currently available on several platforms, with a market cap of $71.8 million and over 76% of trading volume on Bullish. Ripple has also partnered with Chainlink to enhance RLUSD's utility by integrating price feeds on Ethereum and the XRP Ledger. Long anticipates strong growth for stablecoins this year, driven by increased demand in Ripple's payments business, which has doubled over the past year. Additionally, she hinted that XRP could soon see its own exchange-traded fund (ETF) following recent filings by various companies.
Ripple's ongoing legal battle with the SEC, initiated in December 2020 over allegations of unregistered securities sales of XRP, has seen accusations of unethical tactics from the agency, including harassment of Ripple's CEO. While Ripple has achieved some partial victories, including a recent ruling favoring its retail sales, the SEC's appeal has delayed a final resolution. Changes in SEC leadership could potentially benefit Ripple, but the complexity of the case warrants cautious optimism.
Ripple's RLUSD stablecoin has enhanced its capabilities through a partnership with Chainlink, integrating advanced price feed infrastructure just weeks after its NYDFS-approved launch. With a market cap of $77 million, RLUSD operates on both the XRP Ledger and Ethereum, aiming to bridge traditional and decentralized finance. The collaboration ensures reliable price data for DeFi platforms, with Aave among the first to adopt RLUSD, signaling growing confidence in its infrastructure.
Ripple is entering the DeFi space with its new RLUSD stablecoin, a dollar-pegged asset backed by U.S. dollars and Treasuries. To enhance adoption across decentralized exchanges and protocols, Ripple has partnered with Chainlink for reliable price data, essential for maintaining stability and trust in decentralized markets. RLUSD is available on Ethereum and the XRP Ledger, compatible with smart contracts on both platforms.
Ripple has partnered with Chainlink to enhance the adoption and functionality of its stablecoin, Ripple USD (RLUSD), in decentralized finance (DeFi) applications. This collaboration, announced on January 7, aims to provide reliable pricing data for RLUSD on both Ethereum and the XRP Ledger, facilitating efficient transactions and supporting various DeFi use cases. Backed by the US dollar, RLUSD will leverage Chainlink's secure data through its decentralized nodes.
European shares rose, driven by a rally in defense stocks, despite concerns over U.S. inflation and interest rates. U.S. job openings increased unexpectedly, leading to reduced expectations for rate cuts, while the euro neared a two-year low against the dollar amid tariff uncertainties. Oil prices climbed due to reduced supply from Russia and OPEC.
Justin Trudeau has announced his resignation as Prime Minister of Canada, ending a significant era of progressive policies amid internal conflicts. Conservative leader Pierre Poilievre, a strong advocate for cryptocurrency and economic independence, is positioned as a leading contender to succeed him, with his odds of winning rising to 89%. Poilievre criticizes the Liberal Party's attempts to mislead voters with a leadership shuffle, emphasizing his commitment to common sense governance and economic reform.
A significant increase in longer-dated Treasury yields is raising concerns among investors about the potential resurgence of inflation risks. This shift in the bond market is prompting a reevaluation of economic conditions and future monetary policy.
Nvidia's stock soared to a record high following CEO Jensen Huang's CES keynote, which highlighted the company's ambitious vision for AI and partnerships with automakers. However, a "sell the news" reaction led to a $220 billion drop in market capitalization, marking a familiar pattern for investors. Despite this volatility, Nvidia's performance has not significantly impacted the broader US stock market's bullish sentiment.
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