Category: Analysis

Gate.io Burned $40M Worth GT Tokens in 2021 First Quarter

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Besides the token burn, Gate.io has undertaken the initiative to buy back GT tokens from the secondary market. In a bid to raise the value of the GateToken coin, the Gate.io platform burned GT tokens worth $40 million in the first quarter. By reducing the coins in circulating supply and developing the market to increase the demand, Gate.io expects the GT token value to rally further amid the ongoing bull market and in the future. “According to Block.info, Gate.io burned 10237374.905268 GT in Q1 in 2021, worth about 40 million…

Asset Management Firm Brevan Howard to Invest in Crypto Market

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Brevan Howard intends to diversify into various digital assets beyond Bitcoin and Ethereum.  Brevan Howard, an asset management firm with approximately $10 billion in AUM, is reportedly eyeing the crypto market, according to a report by Bloomberg. Bloomberg reported that the firm hedge fund is ready to invest 1.5% of a $5.6 billion portfolio into cryptocurrencies. Notably, the cryptocurrency investment dubbed ‘initial allocation’ will be headed by Johnny Steindorff and Tucker Waterman, co-founders of Distributed Global, a cryptocurrency investment firm. Distributed Global has made significant investments in various blockchain startups…

Tether Transaction Volume on Tron Blockchain Usurps That of Ethereum Blockchain

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Justin Sun, the CEO and founder of Tron and BitTorrent, says that he expects the popularity of the USDT stablecoin to increase. For the first time, the volume of Tether transactions on the Tron blockchain has surpassed that of Ethereum blockchain. This is according to available data on CoinMetrics. According to the data, the total market cap of the Stablecoin on the Tron blockchain stood at $24 billion while that of Ethereum is at $23.4 billion. This spike in transaction volume was largely due to the record low fees of…

Grab Seeks Secondary Listing on Singapore Exchange after US SPAC Merger

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On the 12th of April, Grab completed a SPAC merger with Altimeter Growth Corp. The merger generated almost $40 billion. Singaporean multinational transport company Grab is reportedly considering a secondary listing in Singapore. Grab’s move for a secondary listing in its home market came after the transport company listed on Nasdaq through a special acquisition company (SPAC) in the US.  Grab Seeks Secondary Listing Citing reliable sources, Reuters revealed that the secondary listing would make Grab available to investors in the same jurisdiction where its regional business is based. The sources…

David Einhorn Accuses Elon Musk, Chamath Palihapitiya of Supply ‘Jet Fuel’ to GameStop Short Squeeze Saga

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While Elon Musk has a history of influencing the stock market, his record in helping to pump the price of digital currencies such as Dogecoin (DOGE) cannot go unnoticed. David Einhorn has accused Elon Musk, the CEO of Tesla Inc (NASDAQ: TSLA), and venture capitalist Chamath Palihapitiya of adding the real “Jet Fuel” to the fire during the GameStop Corp (NYSE: GME) short squeeze saga involving retail investors and hedge funds earlier this year.  GameStop Saga Einhorn, the manager of Greenlight Capital, a New York-based hedge fund with about $1.7 billion…

AppLovin Receives Timid Response on Wall Street Debut, APP Shares Close 18.5% Down

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Apart from mobile gaming, AppLovin has built its position in the market by developing marketing software for app developers to help them promote their products. It certainly wasn’t a great start on Wall Street for mobile gaming company AppLovin Corp (NASDAQ: APP). On Thursday, April 15, as the company debuted on Wall Street, APP shares closed 18.5% down. With the APP shares closing price of $65.20, the company’s market cap stood at around $23 billion. AppLovin Performance that Affects APP Shares AppLovin seemed to be cashing upon the wave of the…

Virgin Galactic (SPCE) Stock Dipped Over 13% on Thursday after Richard Branson Sold More Stake

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Earlier this week, Branson sold 5,584,000 shares of his company between April 12 and 14. According to SEC filing, the shares were worth approximately $150.3 million. Virgin Galactic Holdings Inc (NYSE: SPCE) stock closed yesterday trading at $23.06, down more than 13%. As a result of the continued decline, all the gains that accumulated in the past 12 months have been wiped out. Yesterday’s dip was attributed to news that Richard Branson, the company’s founder dumped more stocks to the secondary market. The American spaceflight company has significantly struggled in…

Daimler Unveils Flagship EQS Electric Vehicle to Fight Tesla’s Dominance

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While a lot of automakers are making their debut in the green electric vehicle space, the aim of Daimler is to snatch a sizeable market share from Tesla that is a market leader. German multinational automotive company Daimler AG (ETR: DAI) has unveiled its new 2022 Mercedes-Benz EQS electric vehicle, marking its foray into the growing EV industry. As reported by CNBC, the EQS will be a part of the automaker’s large S-Class car family when it arrives in U.S. showrooms in the fall. The product comes with a futuristic…

PYPL Stock Up 2.54%, PayPal CEO Schulman Predicts $200M Crypto Volume in Months

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Having adopted the largest digital asset, Bitcoin, PayPal can expect PYPL stock to rally alongside the ongoing crypto bull market. PayPal Holdings Inc (NASDAQ: PYPL) stock continued with its meteoric rise on Thursday after closing the day trading at $274, up 2.54%. PayPal stock added over 144.97% last year, thanks to the increased adoption of digital payments around the world. Besides, the payment giant announced plans to incorporate the crypto industry led by Bitcoin in its platform. PayPal currently supports cryptocurrency payment and also account funding with Bitcoin. The company’s…

Chainlink Releases New Whitepaper Introducing Hybrid Smart Contracts for DeFi and NFTs

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The new Chainlink architecture proposed decentralized oracle networks that can off-chain computations and reduce the on-chain logic load. Besides, it also talks about the use of hybrid smart contracts. On Thursday, April 15, oracle service provider Chainlink (LINK) released a new whitepaper with a plan of expanding into new horizons and creating next-generation decentralized oracle networks. This proposal would mean Chainlink generalizing its oracle network into a “meta-layer” of Decentralized Oracle Networks. Over the last years, Chainlink has established itself as the Gold standard for sourcing data to the DeFi…