Day: February 1, 2021

Ripple (XRP) Risks Massive Declines After WallStreetBets-Led Pump

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Ripple is back at the center of attention of the cryptocurrency community after a group of Redditors responsible for pumping failed stocks of GameStop and AMC Corporations choose to orchestrate the same buying frenzy for the blockchain firm’s native token XRP. The last four days have witnessed the XRP/USD exchange rate jump from $0.23 to as high as $0.77—a 228 percent rally. The pair’s gains pushed the XRP’s market capitalization to $32 billion at one point in time, making it the fourth most valuable cryptocurrency in the space. Ripple awaits…

NIO Stock Up 3% in Pre-market, Nio Records Over 7200 Deliveries in January

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Nio, Li Auto and Xpeng have all announced an increase in their delivery rate for 2020. Leading Chinese electric car company Nio Inc (NYSE: NIO) has made one of the strongest starts to the year in its history as the company has recorded over 7,200 deliveries in the first month of the year alone. This is an increase of 352% in its yearly growth. Not only that, the stocks of the company has been performing very well too as Nomura gives the car a buy rating while Morgan Stanley pushed…

LTC/USD Analysis: Litecoin Is About To Reverse The Trend

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Litecoin, the 5th altcoin based on the total market cap, has been quiet recently in terms of new updates and partnerships. Litecoin brands themselves as the Silver of the crypto-assets, whereas Bitcoin is Gold. Litecoins price action for the past quarter, since the October’s MimbleWhimble update. The price is strictly bound to the crypto-market’s sentiment and Bitcoin’s price action. By the time of writing of this article, LTC/USD is traded at $133.50 and is currently traded below the moving averages MA100 and MA200 on a 4H chart. Litecoin price on…

Crypto Lender Nexo Adds Exchange Service to Its Mobile App

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Cryptocurrency lender Nexo has launched an exchange service for a range of digital assets within its mobile app.   According to an announcement Monday, the new service provides more than 75 cryptocurrency and fiat currency pairs, with 17 cryptocurrencies supported. There are no limits on the number of exchanges a user can make in the app (available on iOS and Android) and any trade can be up to $50,000 in value, a Nexo representative told CoinDesk. Users will be able to transfer digital assets to their Nexo Wallets from any other…

Robinhood users are still limited to one GameStop share

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Troubled trading app Robinhood has been narrowing the list of restricted stocks on its platform but is still keeping major restrictions on GameStop (GME) shares.  According to its website, Robinhood has lowered its list of restrictions to eight different stocks including GME, AMC, BlackBerry, Express, Genius Brands International, Koss, Naked Brand Group and Nokia. Robinhood previously limited trading for as many as 50 stocks on Jan. 29, CNBC reported. As per the new restrictions, Robinhood users can still only buy one share of GameStop alongside five options contracts. AMC trading…

Gene Simmons Lists Bitcoin, Ethereum, Litecoin, XRP, Dogecoin among His Investments

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From Gene Simmons’ list of digital assets, both XRP and Dogecoin have been involved in tremendous gains in the past few days mostly fueled by the WallStreetBets speculation frenzy. American musician, entrepreneur, and television personality Gene Simmons has listed some of his digital assets that he has chosen to include in his investment portfolio. According to tweets from his page, Simmons has invested in Bitcoin, Ethereum, Litecoin, Dogecoin and XRP. I’m not recommending any of this to anyone. But yes, I bought and/or will own Bitcoin, Etherium, Litecoin and others. —…

Ryanair Loss Expected to Reach €950M Due to Travel Restrictions as Pandemic Persists

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Ryanair hopes that the vaccine rollout will eventually facilitate return to normalcy. Ryanair Holdings Plc (NASDAQ: RYAAY) is expecting a net loss of up to €950 million in its 2021 fiscal year, which ends in March. Already, the company reported a net loss of €225.5 million in Q2 2020 and a further loss of €306 million in Q3 2020 which ended in December. Ryanair Loss May Increase On the 1st of February, Ryanair said its 2021 fiscal year would “continue to be the most challenging” in its 35-year history. The…

This New Week May See Increased Trading Activity from Reddit Investors

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The activities of the Reddit chatroom r/wallstreetbets may be far from over as more stocks that are being shorted by Wall Street firms may be pumped again. It is the first day of the trading week and speculations abound that Wall Street may see increased trading activities from the retail investors on the Reddit social media platform. The previous week was marked by a retail frenzy that saw Reddit users organized in the chatroom dubbed r/wallstreetbets buy up the shares of stocks that are being shorted by institutional short-sellers. These…

Elon Musk Endorses Bitcoin, Makes Bold Prediction on Its Future

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Speaking about Bitcoin, Elon Musk stated that the asset “is really on the verge of getting broad acceptance by sort of the conventional finance people.” On a Sunday Clubhouse chat, the world’s richest man Elon Musk talked about everything from the exploration of Mars, Gamestop shorting, monkey brain implants to Bitcoin, and his mentions of Dogecoin. On Dogecoin, the billionaire admitted he was always joking, but on Bitcoin, he believes this is a good thing. Just days after Tesla CEO Elon Musk added Bitcoin to his Twitter bio, the billionaire…