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CRISPR Therapeutics has faced a 23% decline in stock value this year despite recent regulatory approvals for its gene-editing medicine, Casgevy, which treats sickle cell disease and beta-thalassemia. The high cost of $2.2 million per treatment poses accessibility challenges, but a new U.S. government plan aims to help Medicaid patients afford it, potentially expanding access for many. However, the company reported only $1.6 million in revenue in the first nine months, indicating slow uptake of Casgevy.
Dogecoin (DOGE) has plummeted 25% in two days, raising concerns it may fall below $0.20 amid a broader crypto market correction. Analysts highlight a key support level at $0.22076, while predictions suggest a potential rebound, with forecasts of reaching $1.21 by March 2025.
The cryptocurrency landscape is buzzing with new opportunities, particularly in the memecoin sector, where projects like DexBoss (DEBO), Aureal One (DLUME), and yPredict (YPRED) are gaining traction. DexBoss stands out with its decentralized exchange offering zero gas fees and rapid transactions, while Aureal One aims to bridge traditional finance and blockchain. As these innovative projects evolve, they present significant potential for investors seeking the next big crypto explosion.
XRP is positioned as a potential leader in the cryptocurrency market, leveraging its efficiency and low transaction costs for international use, but faces significant competition from Bitcoin and Ethereum. Meanwhile, Rexas Finance (RXS) is emerging as a notable contender, raising $29 million in presale and focusing on asset tokenization with innovative features like a Token Builder and AI-driven NFT assistance. With a Certik audit enhancing its credibility, Rexas aims to engage the community through a $1 million giveaway while preparing for its exchange listing in 2025.
US stocks fell on Friday as the House voted against a Trump-backed spending bill, raising the likelihood of a government shutdown. The Nasdaq Composite led losses with a 0.8% drop, while the S&P 500 and Dow Jones fell 0.4% and 0.1%, respectively. Key inflation data showed a month-over-month deceleration in price increases, but inflation remains a concern for the Federal Reserve.
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.
US stock futures indicate a challenging day ahead as the House voted against a Trump-backed spending bill, raising the likelihood of a government shutdown. Key inflation data is anticipated, with futures for the S&P 500 down 1% and Nasdaq futures plunging 1.6%. Major stocks, including Nvidia and Tesla, faced significant declines amid global market pressures and disappointing earnings reports.
The US Federal Reserve cut its benchmark interest rate by 0.25% to a range of 4.25% to 4.50%, marking the third consecutive reduction since September. While inflation remains above the 2% target, the Fed anticipates only two more rate cuts in 2025, reflecting a cautious approach amid ongoing economic growth.Additionally, the Fed adjusted its inflation forecast to 2.5% for 2025 and lowered the Reverse Repurchase Agreement rate to 4.25%. The stock market reacted negatively to the Fed's outlook, with significant declines in major indices following the announcement.
A stopgap funding bill unveiled in Congress includes the "Deploying American Blockchains Act," which aims to bolster U.S. leadership in blockchain technology and establish a National Blockchain Deployment Advisory Committee. This initiative, supported by bipartisan negotiations, seeks to explore blockchain's potential benefits for federal agencies and national security. Meanwhile, President-elect Donald Trump has appointed Cantor Fitzgerald CEO Howard Lutnick as Commerce Secretary, positioning him to promote crypto-related technologies in the U.S.
Chainlink's price has declined 13% to $27 after a three-day drop, reflecting broader cryptocurrency losses. Despite this, a whale has accumulated over 594,998 LINK tokens worth $17.3 million, signaling confidence in a potential recovery. The number of LINK holders continues to rise, now exceeding 688,000 addresses, as Chainlink secures its position in the DeFi space with partnerships and growing demand.
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