Aurelia Butler

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  • 88 Shares109 Views

    in Cryptocurrency

    XRP Climbs 16% In a Green Day

    The move upwards pushed XRP’s market cap up to $50.7835B, or 1.72% of the total cryptocurrency market cap. At its highest, XRP’s market cap was $83.4407B.XRP had traded in a range of $0.7713 to $0.9146 in the previous twenty-four hours.Over the past seven days, XRP has seen a rise in value, as it gained 62.12%. The volume of XRP traded in the twenty-four hours to time of writing was $13.2988B or 6.54% of the total volume of all cryptocurrencies. It has traded in a range of $0.5441 to $0.9146 in the past 7 days.At its current price, XRP is still down 72.80% from its all-time high of $3.29 set on January 4, 2018.Bitcoin was last at $89,714.9 on the Investing.com Index, up 0.29% on the day.Ethereum was trading at $3,035.78 on the Investing.com Index, a loss of 3.46%.Bitcoin’s market cap was last at $1,768.7349B or 59.94% of the total cryptocurrency market cap, while Ethereum’s market cap totaled $364.4843B or 12.35% of the total cryptocurrency market value. More

  • 100 Shares129 Views

    in Economy

    We forget about comparative advantage at our peril

    $75 per monthComplete digital access to quality FT journalism with expert analysis from industry leaders. Pay a year upfront and save 20%.What’s included Global news & analysisExpert opinionFT App on Android & iOSFT Edit appFirstFT: the day’s biggest stories20+ curated newslettersFollow topics & set alerts with myFTFT Videos & Podcasts20 monthly gift articles to shareLex: FT’s flagship investment column15+ Premium newsletters by leading expertsFT Digital Edition: our digitised print edition More

  • 213 Shares179 Views

    in Cryptocurrency

    bbSOL hits $230 ATH, Offers 22% Yield, Deepens CeDeFi Offerings with RateX, Save and marginfi

    Bybit, the world’s second-largest crypto exchange by trading volume, is excited to announce new strategic integrations for its bbSOL offering, expanding decentralized finance (DeFi) yield opportunities for bbSOL holders through partnerships with RateX, marginfi, and Save. These partnerships align with Bybit’s mission to provide innovative CeDeFi solutions, combining the benefits of centralized and decentralized finance to optimize yield generation and asset growth.bbSOL hits ATH at $230 in its 3rd monthSource: https://www.bybit.com/en/coin-price/bybit-staked-sol/ Launches its First Synthetic Yield Farming Offering with RateXBybit’s integration with RateX introduces synthetic yield options for bbSOL holders, offering a unique way to grow assets. On RateX, bbSOL holders can trade synthetic Yield Tokens (YT) of various yield-bearing assets with leverage, capitalizing on yield movements in a cost-effective manner. Additionally, RateX’s platform includes features like Earn Fixed Yield and Yield Liquidity Farming. By depositing bbSOL into RateX, users can convert floating yield into fixed yield, secure future returns, trade yield, or provide liquidity for yield trading.Adds Nearly $900M TVL in Liquidity to bbSOL with Save and marginfiIn line with enhancing bbSOL’s DeFi utility, Bybit is also partnering with Save and marginfi, two prominent lending and borrowing protocols on Solana. Save, with $379M in Total (EPA:TTEF) Value Locked (TVL), and marginfi, with $500M TVL, connect bbSOL holders to a growing Web3 community, providing opportunities to lend, borrow, and optimize yields through decentralized mechanisms.Offers a highly competitive 22% APY with no commissionbbSOL continues to offer a highly competitive APY of up to 22%, a combination of base yield and additional DeFi yields. With no commission fees and flexible instant or delayed redemption options, bbSOL gives users seamless, cost-effective access to both CeFi and DeFi earnings, surpassing other staking products.Now available via 16 CeDeFi partners with a variety of yield earning and farming methodsbbSOL integrates with eight Solana DeFi projects, including RateX, Save, and marginfi, and is available across eight Bybit CeFi products. Users can directly purchase bbSOL with stablecoins, use bbSOL as collateral, convert over 300 assets to bbSOL at no extra cost, and trade bbSOL/USDT with up to 10x leverage on spot margin trading.#Bybit / #bbSOL / #BybitWeb3About Bybit Web3Bybit Web3 is redefining openness in the decentralized world, creating a simpler, open, and equal ecosystem for everyone. We are committed to welcoming builders, creators, and partners in the blockchain space, extending an invitation to both crypto enthusiasts and the curious, with a community of over 130 million wallet addresses across over 30 major ecosystem partners, and counting. Bybit Web3 provides a comprehensive suite of Web3 products designed to make accessing, swapping, collecting, and growing Web3 assets as open and simple as possible. Their wallets, marketplaces, and platforms are all backed by the security and expertise that define Bybit as the world’s second-largest cryptocurrency exchange by trading volume, trusted by over 50 million users globally.Join the revolution now and open the door to your Web3 future with Bybit.For more details about Bybit Web3, please visit Bybit Web3.About BybitBybit is the world’s second-largest cryptocurrency exchange by trading volume with 50 million users. Established in 2018, it offers a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle (NYSE:ORCL) Red Bull Racing team.For more details about Bybit, please visit Bybit PressFor media inquiries, please contact: media@bybit.comFor more information, please visit: https://www.bybit.comFor updates, please follow: Bybit’s Communities and Social MediaContactHead of PRTony AuBybittony.au@bybit.comThis article was originally published on Chainwire More

  • 150 Shares159 Views

    in Cryptocurrency

    Fed Chair Jerome Powell Delivers Crucial Comments for Market, How Crypto Reacted

    Powell, in a recent address, stated that the U.S. Federal Reserve does not need to be “in a hurry to lower rates.” The Fed decreased its benchmark borrowing cost by a quarter percentage point last week, and traders expect it to cut rates similarly in December.”The economy is not sending any signals that we need to be in a hurry to lower rates,” Powell said in prepared remarks. “The strength we are currently seeing in the economy gives us the ability to approach our decisions carefully.”The Fed’s latest views come after inflation and employment figures were announced earlier Thursday. The producer price index grew by 0.2% in October, matching Dow Jones experts’ predictions. Initial unemployment claims for the week ending Nov. 9 totaled 217,000, a 4,000 decrease from the previous week, indicating that the economy remains strong.After reaching all-time highs of $93,465 on Wednesday, Bitcoin’s price fell on Thursday, dragging other cryptocurrencies with it and liquidating many long bets in the process.Although Bitcoin is showing signs of recovery, the price still remains down 1.84% in the last 24 hours to $89,000, while still up 17% on a weekly basis.Ethereum, Solana, Dogecoin and Shiba Inu all fell between 3% and 7% in the last 24 hours. Dogwifhat (WIF), Neiro and Mew reported even larger losses of 12% to 14%.Meanwhile, few cryptocurrencies have returned to the green, but several cryptocurrencies were still trading in the red at press time. Hedera (HBAR) was up nearly 13%, while Cronos (NASDAQ:CRON), Stellar, Cardano, Near and BRETT were up 3% to 15%.XRP also outperformed the top 10, rising 15% in the past 24 hours to $0.8122. CoinGlass data shows that in the last 24 hours, $504 million in positions have been liquidated across all cryptocurrencies. Of that total, $358 million were long positions.This article was originally published on U.Today More

  • 125 Shares119 Views

    in Cryptocurrency

    SEI to Support Drift Zone to Enhance Asian Gaming Market

    Drift Zone, the Web3 gaming studio building the next evolution of Gacha games, has secured a $190,000 grant to integrate its rapidly-growing gaming ecosystem with the Sei network. With over 500,000 players already active in its Telegram mini-game Drift Zone: Arena, the studio is demonstrating how familiar gaming experiences can unlock mainstream Web3 adoption.The studio’s approach centers on enhancing popular Gacha mechanics – which drove over $4.4B in revenue across Asia last year – with real rewards powered by blockchain technology. By building on Sei, both Drift Zone: Arena and the upcoming collectible auto-battler Drift Zone: Origins will leverage the network’s 380-millisecond block finality and process up to 12,500 transactions per second to deliver Web2-like gaming experiences with Web3 benefits.About Drift ZoneDrift Zone is a Web3 gaming studio that builds games that players love to bridge the gap between Web2 and Web3. The studio’s ecosystem includes Drift Zone: Origins, a collectible card-based auto-battler, and Drift Zone: Arena, a Telegram mini-game with over 500,000 players.Website | X | TelegramAbout SEISei is a Layer 1 that combines the advantages of Ethereum and Solana: the dominant development standard of Ethereum with the performance of Solana. The V2 update for Sei makes it the first parallelized EVM. Serving as a new scaling approach for the Ethereum ecosystem while achieving even faster speeds than Solana. Sei launched its mainnet in 2022 and has a growing ecosystem with key teams from Ethereum, Solana, Polygon, Arbitrum, and others deploying. The team is backed by Multicoin, Jump, Coinbase (NASDAQ:COIN) Ventures, and many more.Website | X | TelegramContactCOOSam PattonDrift Zonesam@driftzone.ioThis article was originally published on Chainwire More

  • 163 Shares159 Views

    in Economy

    Factbox-Most brokerages retain expectations of 25-bps rate cut from US Fed in December

    The consumer price index (CPI) rose by 2.6% in October, data showed on November 13, while the core rate, which strips out food and energy, rose 3.3% – in line with market expectations. Citigroup (NYSE:C) stuck to its view of a cut of 50 bps in December, while all major brokerages continue to see a 25-bps cut post the inflation report.Following the CPI data, Powell affirmed in prepared remarks delivered at a Dallas Fed event on November 14 that ongoing economic growth, a solid job market, and inflation above its 2% target means the central bank does not need to rush to lower interest rates.”We now see a greater risk that the FOMC(Federal Open Market Committee) could slow the pace sooner, possibly as soon as the December or January meetings,” Goldman analysts said in a note dated November 14 following Powell’s remarks. Here are the forecasts from major brokerages after the CPI data:Rate cut estimates (in bps) Brokerages Dec’2024 2025 Fed Funds Rate BofA Global 25 Research 50 3.75%-4.00% (end of June) Barclays (LON:BARC) 25 50 3.75%-4.00% (end of 2025) Macquarie 25 100 3.25%-3.50% (through (through June 2025) June 2025) Goldman Sachs 25 3.25%-3.50% (through 100 September 2025) (through September 2025) J.P.Morgan 25 3.75% (through September 75(throug 2025) h September 2025) *UBS Global 25 125 3.00%-3.25% (through Research end of 2025) TD Securities 25 100 3.25%-3.50% (through end of 2025) Morgan Stanley (NYSE:MS) 25 3.375% (Q4 2025) 100 (through June 2025) Jefferies 100 25 3.25%-3.50% (through end of 2025) Nomura 25 25 4.00-4.25% (through end of 2025) *UBS Global Wealth 25 100 3.25%-3.50% (through Management end of 2025) Deutsche Bank (ETR:DBKGn) 25 – – Citigroup 50 – – *UBS Global Research and UBS Global Wealth Management are distinct, independent divisions in UBS Group Here are the forecasts from major brokerages before the CPI data:Rate-cut estimates (in bps) Brokerages 2024 Nov Dec BofA Global 25 25 Research Deutsche Bank 25 25 Barclays 25 25 Macquarie 25 25 Goldman Sachs 25 25 J.P.Morgan 25 25 *UBS Global Wealth 50 Management Citigroup 25 50 More

  • 150 Shares129 Views

    in Economy

    Head of Germany’s SPD sees ‘good starting point’ for reforming debt brake

    The spending limits are enshrined in Germany’s constitution, but political parties have bristled at the limitations as Europe’s biggest economy tries to boost a recovery held back by high energy prices following Russia’s invasion of Ukraine.A dispute over spending led to the collapse of Germany’s government last week, when Chancellor Olaf Scholz fired finance minister Christian Lindner, ending a coalition between Scholz’s SPD, Lindner’s pro-market Free Democrats and the Greens.Referring to signs of willingness for reform from the centre-right opposition, SPD leader Lars Klingbeil told the Handelsblatt newspaper: “That’s a good starting point for continuing straight away.”Opposition leader Friedrich Merz of the conservative Christian Democrats (CDU) has said he could be open to reforming the debt brake, which limits Germany’s public deficit to 0.35% of gross domestic product, in certain circumstances.Merz has been tipped to succeed Scholz as chancellor in snap elections set for Feb. 23, with the CDU currently leading in the polls.”Perhaps people will then look back on this moment and understand what an opportunity the democratic centre parties missed here,” said Lars Klingbeil on Friday in social platform X.Now would be the time for a responsible compromise by the Democrats, he said, asking the conservative CDU for an agreement, as reform requires a two-thirds majority in parliament. “First the country, then the party,” he said. “We would be ready.”Within the CDU, the debate about debt brake reform was reopened this year by Kai Wegner, the conservative mayor of Berlin. Several powerful CDU leaders from other regional governments have joined the push for reform because the states are more constrained than the federal government, having no structural leeway to incur new debt.The services sector trade union Verdi welcomed the new openness of Merz to reform the debt brake. “This is an insight into what is necessary,” Verdi’s head Frank Werneke told Reuters. “We have a massive investment backlog in Germany, over 180 billion euros in the municipal sector alone.” If the next government also continues to modernise the armed forces and maintains its support for Ukraine, this will not be possible without additional borrowing, he said. More

  • 188 Shares139 Views

    in Economy

    Exclusive-Unilever nearly halves expected European job cuts, switching some staff to ice cream unit-works council

    LONDON (Reuters) -Unilever is cutting about 1,500 fewer jobs in Europe than initially anticipated and hiring about 1,000 people, primarily those affected by its cost-cutting drive, for its soon-to-be spun off ice cream business, the head of the company’s European Works Council told Reuters. The British company, whose shareholders include billionaire activist investor and board member Nelson Peltz, has been trying to streamline its business over the past year under CEO Hein Schumacher. Prior to his apppointment, Unilever (LON:ULVR) had underperformed for years and was criticised for allowing its brand portfolio to grow to around 400, leaving management with too little time to focus on its best performers.Some investors had also said Unilever was too slow to revive margins in the wake of the Covid-19 pandemic and needed to become leaner.Unilever said earlier this year it would axe 7,500 jobs globally as part of a restructuring to save about 800 million euros ($845 million). It also said it would spin off its ice cream unit which is home to brands including Ben & Jerry’s and Magnum. Unilever’s European Works Council (UEWC) has strongly criticized those decisions, saying a realignment of the ice cream business could have been successfully managed within Unilever. UEWC Chairman, Hermann Soggeberg, told Reuters exclusively on Friday that the company had, however, reached a deal in October with Unilever that would see a reduction of about 1,700 jobs having initially anticipated about 3,200 job losses in Europe. “We have been negotiating intensively with the company throughout the summer,” Soggeberg said.He said Unilever is still making the savings it promised to investors, but was able to significantly reduce the job cuts in Europe through savings projects from 2022 to 2024 and not hiring externally.Soggeberg said about 1,000 additional jobs will be offered at Unilever’s European ice cream company primarily to employees affected by job cuts in the rest of Unilever’s business.”They are planning for growth in ice cream,” Soggeberg said. “We agreed with Unilever that this process to hiring these people will be synchronized with the job cut program.”The ice cream business’ spinoff is expected to complete by the end of 2025, London-listed Unilever has previously said, adding that it would move to a separate head office in Amsterdam.”We remain fully on track to deliver the 800 million euros savings from our productivity programme,” a Unilever spokesperson said. “When we announced the programme, we were determined to mitigate the impact of these changes on our people and so we are pleased that we have achieved this in Europe,” the spokesperson added. ($1 = 0.9464 euros) More