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A meme coin called $VINE, launched by Vine cofounder Rus Yusupov, has quickly gained traction, surpassing a $200 million market cap following Elon Musk's hints at reviving the Vine app. As of 7 a.m. ET, it was trading at over 22 cents, with speculation it could reach $500 million. The launch coincides with a broader crypto market rally, fueled by Donald Trump's administration's pro-crypto stance, despite skepticism surrounding the volatility of meme coins.
Donald Trump expressed openness to Elon Musk or Larry Ellison acquiring TikTok, proposing a joint U.S. ownership of 50%. At a White House event, he emphasized the potential value of such a deal, suggesting it would benefit both the buyers and the U.S. government. Trump also noted his past appeal to younger voters through TikTok, despite not having the app on his phone.
In a notable shift, Trump has developed close ties with tech leaders like Tim Cook, Elon Musk, and Sundar Pichai, as he prepares for his inauguration. Cook praised Trump’s leadership, while Musk and others are set to play significant roles in shaping tech policy, including AI and cryptocurrency regulations. Meanwhile, TikTok's future remains uncertain as Trump considers a temporary suspension of divestment requirements for the app.
Donald Trump Jr. has joined Kalshi as a strategic advisor for its legal prediction market platform, which operates under CFTC regulation. Kalshi gained attention during the recent election, accurately predicting Trump's chances of victory at 55%, while competing with offshore operators like Polymarket, which recorded over $3.1 billion in trading volume. The platform offers contracts on various real-world events, including political and social topics, and has introduced unconventional bets, such as whether Trump would buy a portion of Greenland.
U.S. stocks declined on Monday, with the S&P 500 down 0.8% and the Nasdaq Composite falling 1.6%, as rising Treasury yields fueled concerns over the Federal Reserve's interest rate strategy. Major tech companies, including Nvidia and Tesla, experienced significant losses, while Apple shares slipped due to a report of declining iPhone sales. Investors are closely watching upcoming economic data, including the Consumer Price Index and earnings reports from major banks, for insights into inflation and economic resilience.
Bitcoin is currently in a confirmed downtrend, having fallen from its all-time high of $108,000 to around $92,000, with potential support at $88,000 and $85,000. Despite recent struggles, experts predict a bullish outlook, with prices possibly reaching $200,000 in the future, especially following Donald Trump's election win, which may lead to clearer regulations in the crypto market.In addition to Bitcoin, altcoins like Render, Near Protocol, and Internet Computer are gaining traction, while new presale tokens such as Wall Street Pepe, Solaxy, and Best Wallet are attracting investor interest with significant fundraising and staking opportunities.
JPMorgan CEO Jamie Dimon continues to express skepticism about Bitcoin, citing its lack of intrinsic value and association with illegal activities. Despite his criticisms, including a past declaration of Bitcoin as a "fraud," JPMorgan is involved in Bitcoin through BlackRock’s iShares Bitcoin Trust. Meanwhile, Bitcoin's value has surged, currently trading at $90,597, with projections reaching $150,000, reflecting its growing acceptance as a store of value.
XRP is gaining traction, recently surpassing $2.4 amid optimism over regulatory changes, while Dogecoin has surged to $0.3258, fueled by speculation around Elon Musk's influence in a pro-crypto administration. PlutoChain aims to address Bitcoin's transaction bottlenecks with its Layer-2 technology, potentially enhancing scalability and functionality. As these projects evolve, investors are advised to conduct thorough research due to the inherent risks in crypto trading.
Jefferies has downgraded Nestle SA from Hold to Underperform, lowering its price target from CHF82.00 to CHF67.00, citing concerns over a weak FY24 outlook and potential reductions in operating margin forecasts. Analysts predict a flat dividend for 2024 and a possible decline in the stock's price-to-earnings ratio. Despite this, other firms like Goldman Sachs and RBC Capital maintain positive ratings, highlighting Nestle's strong market position and anticipated organic sales growth.
Stock futures are rising as markets aim to recover from a significant sell-off triggered by the Federal Reserve's cautious outlook on interest rate cuts. The Dow fell 2.6% over ten consecutive sessions, while major tech stocks like Nvidia and Tesla saw gains. Meanwhile, Micron's shares dropped 11% after disappointing results, and Bitcoin traded at $102,000, recovering from a low of $99,000.
Kamala Harris
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Vine meme coin surges as Elon Musk hints at app revival
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15:03 23.01.2025
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stock futures rise as market seeks recovery from recent sell-off
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14:21 19.12.2024
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