The textbooks say that the securities markets exist to facilitate raising capital so that companies can thrive. In today’s investment world, that notion seems almost quaint. Business news pages and cable shows are dominated by fads — be it bitcoin, dogecoin or nonfungible tokens (NFTs) — and stocks whose prices are not tied to sober reflections about their issuers’ prospects but rocket up and down based on internet-fueled speculation. Looking back at this period in a… Source link

Topline As the broader cryptocurrency market plunges after billionaire Elon Musk said Tesla would no longer accept bitcoin because of its hefty environmental cost, the price of Cardano’s ada, the world’s fourth most valuable token, surged, as crypto traders and analysts plow into the token that promises it’s a much less carbon-intensive alternative. Cardano’s ada, the world’s fourth-largest cryptocurrency, is the most valuable token that analysts … [+] are homing in on after… Source link

The cryptosphere is on fire! This week dozens of coins have hit all-time highs (ATHs). And with big industry players like Square and PayPal getting on board with cryptocurrencies, alongside interest and adoption by banks like JPMorgan Chase, Goldman Sachs, and Citigroup, crypto’s winning streak appears to be set to continue. There are a few reasons why this past year, specifically, there has been such an influx of cash into the crypto industry: The pandemic The recession The hype The investment… Source link

A crypto farm in Cluj-Napoca, Romania, last year. Photo: Akos Stiller/Bloomberg News We have all found money in the couch. Now people are mistaking a couch for money. Ethan Allen Interiors, ETH 2.91% a furniture company that definitely… Source link

Novogratz is bullish. Photo: Getty Images for Friends of Hudson River Park Mike Novogratz, once a partner at Goldman Sachs who went on to be a hedge fund manager at Fortress Investment Group, has found his biggest financial success in cryptocurrency. Now the billionaire founder and CEO of Galaxy Digital, Novogratz is building his own crypto-focused… Source link

Shutterstock Dogecoin and other cryptocurrencies sank on Thursday after Elon Musk suspended bitcoin payments for Tesla cars. The meme-inspired digital asset tumbled 20% to trade around 40 cents. Litecoin fell 14%, while Ripple’s XRP and Ethereum’s ether lost 11% – having each dropped more than 20% from their peaks. Bitcoin dropped as much as 15% on Thursday, prompting a knock-on effect for other digital currencies, as the entire crypto market value wiped off as much as $365 billion at… Source link

Corrections over the last 24 hours notwithstanding, Litecoin, the silver to Bitcoin’s gold, has been consolidating its position in investors’ portfolios for quite some time now. After oscillating in the $40 to $60 price bracket for a few months in 2020, Litecoin managed to break its monotonous trend and gradually picked up momentum on the back of Bitcoin and Ethereum’s price performances. At the time of writing, the alt was trading around the $330-mark. Source: Glassnode From… Source link

Updated May 13, 2021 9:10 am ET Here’s what we’re watching ahead of Thursday’s opening bell. U.S. stock futures edged up, pointing to a muted recovery on Wall Street after worries about inflation pushed the S&P 500 to its biggest three-day loss since October. Futures tied to the broad stocks gauge were up 0.2%. Contracts linked to the Dow Jones Industrial… Source link

Bitcoin and cryptocurrency markets plummeted by around $300 billion overnight before slightly rebounding after Tesla billionaire Elon Musk and ethereum co-founder Vitalik Buterin sent shockwaves through the sector. The bitcoin price briefly dropped under the closely-watched $50,000 per bitcoin level before climbing back above it, while dogecoin, a meme-based cryptocurrency that’s exploded in popularity over recent months, led the crypto market lower with a 10% price drop. The sharp fall… Source link

Ethereum Ethereum fell by 8.45% on Wednesday. Reversing a 5.83% gain from Tuesday, Ethereum ended the day at $3,826.55. A mixed start to the day saw Ethereum rise to an early afternoon intraday high and a new swing hi $4,384.43 before hitting reverse. Ethereum broke through the first major resistance level at $4,322 before sliding to a late intraday low $3,700.00. The extended sell-off saw Ethereum fall through the first major support level at $3,899 to end the day at sub-$4,000 for the first… Source link