Markets

Grayscale’s Chainlink Trust – GLNK – has surged to a premium of 200% when compared to the current LINK market prices. GLNK has seen a remarkable surge of almost 100% in the last week, concluding at $39 on Monday, up from its level of $21 on October 31. It is also important to note that LINK’s price has more than doubled over the last three weeks amidst the broader cryptocurrency market recovery. Institutional Demand Pushes GLNK to 200% Premium According to CoinMarketCap, the...

TL;DR Ripple’s XRP has seen a recent price increase, leading to a positive shift in investor sentiment, with over $355 million in futures and 91% of traders taking long positions on Bitrue. Analysts provide varied forecasts, with predictions of a continued uptrend with potential to reach $1.05 if it maintains above the $0.66 level, while others speculate a surge to $14 in the near term. Outlier predictions include a highly skeptical claim of XRP reaching $500 in the coming...

Market analysts believe the new updates released by OpenAI significantly contributed to the rise of Microsoft (MSFT) shares.  Microsoft Corporation (NASDAQ: MSFT), a global technology powerhouse, witnessed a remarkable surge in its share price, achieving unprecedented heights for the first time since 2021. On November 7, the company’s shares ended the trading session at a record high of $360.53, representing an impressive daily increase of 1.12%. The surge propelled the company’s market...

Despite some setbacks, Robinhood remains committed to the crypto space. Investing app Robinhood saw its crypto trading revenue drop further in the third quarter of 2023. While the company’s net gains increased by 29% year-over-year to $467 million, its transaction-based income decreased. According to the quarterly report, the crypto trading revenue plummeted by 55% to $23 million. The loss continues a downward trend for crypto-based transactions on the app. Recall that there was a loss of...

A Circle spokesperson confirmed that a public listing is not exactly far from the firm’s aspirations. Circle, the issuer of the USD Coin (USDC) stablecoin, is reportedly in talks with its advisers over an initial public offering (IPO) for early 2024. According to Bloomberg, which cited sources with inside knowledge about Circle, the deliberations may or may not end up in a public listing. If it does go public, however, sources did not share what valuation Circle is expected to hit. But the...

Datadog has further given an optimistic outlook for the entire year of 2023 while forecasting Q4 revenue between $564 million and $568 million. On Tuesday, November 7, cloud monitoring software firm Datadog Inc (NASDAQ: DDOG) reported stronger-than-expected results for Q3 2023 following which its stock price shot up by 28%, thereby registering the highest-ever single-day gains. Datadog Performance in Q3 2023 The company reported Q3 2023 revenue of $547.5 million, marking a 25%...

Solana price started a fresh increase wave above the $40.00 resistance against the US Dollar. The price is now trading above $40.00 and the 55 simple moving average (4 hours). There is a key bullish trend line forming with support near $40.80 on the 4-hour chart of the SOL/USD pair (data feed from Coinbase). The pair must clear $44.80 and $46.00 to continue higher in the near term. Solana price is trading above $40.00 against the US Dollar, like Bitcoin. SOL could...

Bitcoin price started a consolidation phase below the $36,000 zone against the US Dollar. The price is now trading above $34,500 and the 55 simple moving average (4 hours). There is a key rising channel forming with support near $34,600 on the 4-hour chart of the BTC/USD pair (data feed from Coinbase). The pair could continue to rise if it stays above the $33,750 support zone. Bitcoin price is showing positive signs above $34,000 against the US Dollar. BTC might...

Ava Labs, a crypto startup and the leading developer of the Avalanche blockchain has laid off 12% of its workforce amid the persistent bear market. The company’s founder and CEO, Emir Gün Sirer, confirmed the job cuts on X, stating that the move would allow the management to reallocate resources to the growth of the firm and the expansion of the Avalanche ecosystem. Ava Labs Slashes Headcount “Bear markets are difficult to navigate,” said Sirer, adding that Ava Labs is lucky...

Coinbase, America’s largest cryptocurrency exchange, announced its plans to end support for Bitcoin SV (BSV) on its platform. This decision comes more than two years after the exchange initially delisted BSV from trading. Coinbase Sets Deadline for BSV Withdrawals According to the announcement, Coinbase will cease to support the BSV asset as of early next year, and users are urged to take action before January 9, 2024, to safeguard their holdings. The notice stated, “Users...