Markets

American investors Stanley Druckenmiller and Bill Ackman are set for a huge payday after a record-breaking Coupang IPO. The company debut at $35 on Thursday, surpassing its initial target.South Korean e-commerce giant Coupang raised $4.6 billion in its IPO on Thursday. Coupang further surpassed expectations of selling at $32-$34 a share by opening at $35 and closing the day as high as $41 (CPNG). At the time of press, its shares have pushed higher and are trading for $49.After selling 130...

ETH/USD – Market Falls Into Lower Boundary of Ascending Price ChannelKey Support Levels: $1755, $1700, $1667.Key Resistance Levels: $1876, $1900, $1960.Ethereum started the week on a bullish note after rebounding above $1500 over the weekend. The cryptocurrency went on to form a short-term ascending price channel as it continued to push upward to reach the resistance at $1875 (1.414 Fib Extension).It could not close a daily candle above the resistance and ended up rolling over on Wednesday....

The crypto lender BlockFi has noted as one of its many plans to utilize the new capital boost to accelerate the expansion of its services into new markets.Crypto lender and digital assets services provider BlockFi has announced the completion of its Series D capital fundraising. Per the official press release, the company recorded $350 million in the financing round, led by new investors including Bain Capital Ventures, partners of DST Global, Pomp Investments, and Tiger Global.Since its...

The weekly jobless claims as per the Labor Department report have dropped to a four-month low since November 2020. The tech and growth stocks continue to rally further with the stimulus boost.A day after Dow Jones touched its all-time high on Wednesday, the US stock market continued to stay upbeat on Thursday. Yesterday, the S&P 500 (INDEXSP: .INX) touched a record high of 1% and ending the trading session at 3,939.34 levels. The Dow Jones Industrial Average (INDEXDJX: .DJI) also surged...

Bitcoin came even closer to reaching a new all-time high a few hours ago but failed, and the subsequent rejection drove the asset below $57,000. Most alternative coins have remained relatively calm on a 24-hour scale despite some severe volatility experienced in the past few days.Bitcoin Came 0.43% Away from a Fresh ATHIt seems that last week’s price drops in which bitcoin dipped to $43,000 are long gone for the cryptocurrency. This week the asset has been on an impressive run that overcame...

Bitcoin cash price is struggling to clear the $560 resistance zone against the US Dollar. The price is now trading well above $520 and the 55 simple moving average (4-hours). There is a key bullish trend line forming with support near $535 on the 4-hours chart of the BCH/USD pair (data feed from Coinbase). The pair is likely to start a strong surge if there is a break above $560 and $570. Bitcoin cash price is likely preparing for a fresh increase above $570 against the...

While some Chinese companies have purchased BTC and ETH, others, such as the social media giant Weibo, have reportedly halted the accounts of three of the largest crypto exchanges – Binance, Huobi, and OKEx. Weibo has justified its decision by outlining “abnormal practices” and breaching security risks.Weibo Targets Crypto ExchangesIt may not come as a surprise that a Chinese-based company has a somewhat hostile approach towards the cryptocurrency industry, keeping in mind the country’s...

ADA/USD – Bulls Continue To Defend $1.10Key Support Levels: $1.10, $1.07, $1.00.Key Resistance Levels: $1.20, $1.30, $1.38.ADA is down from the late February highs of around $1.48. The cryptocurrency had been falling in the first few days of March until support was met at $1.10. Since then, ADA has managed to close every daily candle above the level.It has now been trapped within a range between $1.20 and $1.10 for the past eight days of trading and must break out of this range to dictate the...

Oracle reported a net income of $5.02 billion, or $1.68 a share, compared with $2.57 billion, or 79 cents a share, in the year-ago period.Oracle Corp (NYSE: ORCL) stock closed yesterday trading at $72.12, 0.72% down. The drop intensified during Thursday’s premarket as the dip was approximately 5.44% at the time of writing.The dip in Oracle stock is in contrast with the better than expected earnings results for the third fiscal quarter. Notably, Oracle reported a net income of $5.02 billion,...

The pandemic spiked an economic downturn that lowered interest rates, thus pushing retail investors to seek refuge in terms of potential gains in the stock markets.The stock market and general trading activity are still at high levels following the retail invasion of the online brokerage platforms during the short-squeeze saga of GameStop Corp (NYSE: GME). As reported by CNBC, the trading platforms continue to see increased app downloads in February at levels higher than that recorded in the...