Analysis Crypto by Thebittimes.Com

A decentralized finance (DeFi) platform focused on real-world asset tokenization is launching an Ethereum (ETH)-based on-chain trading platform for stocks and exchange-traded funds (ETFs). In a new thread on X, Ondo Finance (ONDO) says that its new platform will provide one of the largest selections of tokenized stocks and ETFs on the market. “Wall Street 2.0 is here. Ondo Global Markets is now live, providing one of the largest-ever selections of tokenized U.S. stocks and ETFs on-chain with the liquidity of traditional finance, starting on Ethereum. 100+ assets now live, with hundreds more on the way.” According to Ondo, this platform will remove the barriers for many investors who don’t have access to the $64 trillion US securities market. “The current investment ecosystem is broken. Global investors have historically faced barriers to accessing the $64 trillion U.S. securities markets due to high fees, limited access, transfer frictions...

The end of the week saw a very important statistic come to light as Amazon has outearned Google in one key area amid AMZN’s continued gains to end the week. Indeed, the massive e-commerce company has displayed some positive performance in October’s last two weeks. The development will have Amazon challenging for increased supremacy within the information technology sector. Its stock was up 2.3% Friday, trading at the $188 mark as it looks to end the year strong, preparing for an impressive start when the calendar turns. Source: Reuters Also Read: Amazon AWS to Grow 20%? Why It Has AMZN Targeting $230 Amazon Beats Google in One Key Statistic as AMZN Looks to Surge 2024 has certainly been a positive year for several tech stocks across the board. With Nvidia (NVDA) surging almost 200% throughout that time, it has been followed by a host of stocks quick to embrace the AI demand boom. Yet, the market is still regarding companies that are taking more traditional routes. One that i...

After selling nearly 700,000 GBTC shares over the past month, ARK’s Next Generation Internet ETF still holds 4.3 million GBTC shares worth $131.8 million. Cathie Wood’s investment firm ARK Invest has sold 700,000 shares of the Grayscale Bitcoin Trust (GBTC) over the past month , even as Bitcoin (BTC) hit 17- month highs over excitement for a possible spot Bitcoin exchange-traded fund (ETF). The ARK Next Generation Internet ETF (ARKW) sold 36,168 GBTC shares on Nov. 22, offloading a total of 697,768 GBTC since Oct. 23, according to ARK’s daily trading data seen by Cointelegraph. ARKW offloaded roughly $1 million in GBTC as Grayscale’s trust traded around $30 on Nov. 22, closing at $30.50, per Google Finance data. United States markets closed on Nov. 23 for Thanksgiving. GBTC daily price on Nov. 22. Source: Google Finance ARK started selling Grayscale Bitcoin Trust shares on Oct. 23, 2023, as Bitcoin was reaching $34,000. Before that, ARK’s previous reported GBTC transaction was in ...

Google's parent company Alphabet was the worst performer on the day, falling 9.5% in a massive $180 billion wipeout. More than $280 billion has been wiped from the “magnificent seven” tech stocks following the release of several earnings reports on Oct. 25, triggering fears of a looming tech recession. The so-called “magnificent seven” refers to the top seven blue-chip tech firms including Apple, Microsoft, Meta, Amazon, Alphabet, Nvidia, and Tesla — who combine to make up a quarter of the value of the S&P 500 index. Google parent company Alphabet saw its share price fall over 9%, wiping $180 billion from its market cap and was noted as Google’s worst-performing day since the COVID-19 pandemic hit in March 2020. Google’s (Alphabet Inc Class A) share price over the last five days. Source: Google Finance The share prices of Amazon, Nvidia, and Meta fell 5.5%, 4.3%, and 4.2% respectively, according to Y Charts. Apple and Tesla’s fall in share prices were less severe at 1.35% and...

Gold bars recently sold out at Costco, reflecting investors’ souring mood about the economy. Is there a silver lining for Bitcoin? Costco has made headlines this week after it rapidly sold out of gold bars. In times of economic uncertainty and rising inflation, it's no surprise that investors are turning to traditional safe-haven assets like gold. The question is whether gold’s performance will eventually catapult its price above $2,050, a level last seen in early May. In the past 12 months, the price of gold has surged by an impressive 12%. This rally has been partially fueled by the Federal Reserve's efforts to combat inflation by maintaining higher interest rates, a move that benefits scarce assets like gold. While gold's performance is commendable, it's essential to put it into perspective. Gold (yellow) vs. Bitcoin (orange), S&P 500 (green) and WTI oil (black), last 12 months. Source: TradingView Over the same period, gold's returns have roughly matched th...

BTC price has struggled for nearly a month, but Bitcoin miners revenue is up, calling into question the logic of short sellers betting against mining stocks. Driven by heightened demand for Bitcoin (BTC) block space, fueled by Ordinals inscriptions and the PEPE-fueled BRC-20 memecoin mania, miners have become direct beneficiaries of a sudden boom in transaction fees, increasing their bottom lines. This surge has resulted in an unprecedented increase in the average number of transactions, and consequently revenue per BTC block mined. Data from a recent Glassnode report sheds light on the revenue increase for miners in May, as they raked in a total of 12.9 BTC in mining rewards per block, with fee revenue surpassing subsidies for only the fifth time in Bitcoin’s history. Bitcoin average fee paid per block. Source: Glassnode Coin Metrics data underscores this phenomenon further, revealing that on May 8, miners generated a staggering $41.16 million in daily revenue, a level unseen since l...