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Chainlink's price has surged to a two-year high, accompanied by a record-breaking open interest of $770 million in its futures market, surpassing competitors like TON and TRX. This increase reflects heightened market activity and confidence, with $35.57 million in realized profits indicating significant short-term trading. Despite improved active address momentum, user engagement remains well below 2021 peaks, suggesting that current price dynamics are largely driven by speculative trading rather than sustainable growth.
Larson Financial Group LLC and GPS Wealth Strategies Group LLC significantly increased their stakes in CRISPR Therapeutics during the second quarter, with institutional investors now owning 69.20% of the company. The stock recently hit a 52-week low of $43.23, and analysts have mixed ratings, with a consensus "Hold" and an average target price of $77.93. In its latest earnings report, CRISPR posted a loss of $1.01 per share, beating estimates but falling short on revenue expectations.
Two research analysts have rated Novartis AG stock as a sell, while seven have issued a hold rating, resulting in an average rating of "Hold" and a target price of $121.50. Recently, Sanctuary Advisors LLC increased its stake in Novartis by 14.9%, with other hedge funds also boosting their positions. The company reported earnings of $2.06 per share, exceeding estimates, and has a market cap of $201.13 billion.
Tech leaders, including Jeff Bezos of Amazon, Mark Zuckerberg of Meta, and Sundar Pichai of Alphabet, are actively engaging with Donald Trump to navigate potential challenges posed by his administration. Bezos praised Trump's newfound calmness, while Zuckerberg reflected on his own reactions to recent events, and Pichai expressed optimism about future innovations under Trump's leadership.
The Bitcoin derivatives market is experiencing heightened activity, with a significant rise in Open Interest and Estimated Leverage Ratio, indicating a surge in new positions. This trend raises the likelihood of volatility, as overleveraged positions could lead to a potential squeeze, impacting Bitcoin's price trajectory. Currently, Bitcoin is trading around $100,400, reflecting a 2% increase over the past week.
Chainlink's price action has mirrored Ethereum's historical patterns, suggesting a potential rise toward $90, especially as whales and institutions increase their holdings. LINK's Futures Open Interest has surged to a record $770.27 million, indicating growing trader confidence. Notably, Donald Trump's World Liberty Financial has aggressively accumulated LINK, reflecting a bullish outlook on its future potential.
Galaxy Digital has appointed Tony Paquette, a former Point72 executive, as its new CFO, succeeding Alex Loffe, who will transition to a senior advisory role in January 2025. This leadership change comes amid the company's financial challenges, including a reported net loss of $54 million, and a shifting regulatory landscape for cryptocurrency in the US. Despite these hurdles, Galaxy Digital remains optimistic about future growth, especially with the anticipated pro-crypto policies from the incoming Trump administration.
Allegiant Travel Company focuses on providing travel and leisure services to underserved cities in the U.S. It operates in two segments: the Airline segment, which includes scheduled air transport and ancillary services, and the Sunseeker Resort segment, offering accommodations and resort facilities.
Prime Capital Investment Advisors LLC and Arkadios Wealth Advisors have increased their stakes in Amcor, now owning 18,961 and 25,597 shares, respectively. Institutional investors hold 45.14% of the stock. Amcor has received a "strong-buy" upgrade from UBS Group, with a consensus rating of "Moderate Buy" and an average price target of $11.20.
Grayscale has launched the Grayscale Lido DAO Trust and Grayscale Optimism Trust, targeting accredited investors seeking exposure to key Ethereum protocols. Lido enhances staking accessibility with $40 billion in total value locked, while Optimism, with $800 million in TVL, boosts Ethereum's scalability through its OP technology. Both trusts are now available for daily subscriptions, reflecting Grayscale's ongoing expansion in the cryptocurrency investment space.
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