As a result, Lido (LDO) has established itself as a leader in the liquid staking sector. Lido is one of the main staking protocols for several popular tokens and it allows token holders to earn an extra yield by putting their staked assets to work in decentralized finance (DeFi). Continue Reading on Coin Telegraph More
The central bank begins a two-day meeting on Wednesday and is poised to maintain its negative interest rate and asset purchase programs, according to 89% of economists surveyed by Bloomberg. About 10% of those polled expect a shift in forward guidance toward a tightening direction.BOJ Governor Haruhiko Kuroda is in an awkward position given that his commitment to an easing stance has helped fuel the yen’s rapid weakening, adding to households and firms’ woes by exacerbating soaring energy prices. At the same time, any tightening would cool an economy that’s yet to return to its pre-Covid level and hurt Kuroda’s credibility given inflation remains well short of the stable 2% he is seeking. The BOJ’s communications task will be further complicated by the release of its quarterly outlook. The report will probably show forecast inflation revised up toward 2%, mainly due to the sharp rise in fuel prices, people familiar with the matter told Bloomberg earlier this month. The bank will need to make clear the updated outlook doesn’t mean it is approaching its price stability target and that cost-push inflation is putting the economy at risk of a slowdown, the people said. Any figure beyond 1.2% would mean the BOJ is forecasting the fastest inflation in three decades, outside years when there were tax increases.The new projections and policy statement are likely to be released in the early afternoon Thursday, followed by Kuroda’s press briefing at 3:30 p.m. What Bloomberg Economics Says…“The Bank of Japan is likely to keep policy unchanged, pushing back against market pressures that have tested its resolve to keep yields in its target band and its stomach for a weaker yen.”– Yuki Masujima, economistTo read the full report, click hereWhat to look for ©2022 Bloomberg L.P. More
In a 52–43 vote on the Senate floor on Tuesday, U.S. lawmakers confirmed Brainard a vice chair of the Federal Reserve for four years, potentially beyond her term as a governor ending in January 2026. Brainard was one of four nominees waiting for approval since Republican lawmakers in the Senate Banking Committee boycotted a February committee, which would have sent the prospective Fed vice chair’s nomination to the full Senate.Continue Reading on Coin Telegraph More
The “Optimism Collective” was introduced Tuesday afternoon in a lengthy post that outlined its mission and governance mandate. Described as a “large-scale experiment in digital democratic governance,” the Optimism Collective essentially comprises a band of communities and stakeholders committed to improving Ethereum’s technical capabilities. Continue Reading on Coin Telegraph More
Tech-related stocks were some of the hardest-hit assets on April 26 and this pullback was followed by sharp declines in crypto prices as risk assets become persona non grata in these turbulent markets. Continue Reading on Coin Telegraph More
The NFL Draft NFTs launched on Monday on the league’s own Polygon-based platform. 52 NFTs priced at $52 apiece were available for each team. Moreover, the latest collectibles were minted on the Flow blockchain rather than on Polygon, which has been used for previous NFL NFT drops.Although each NFT is described as a “virtual commemorative ticket” for the NFL Draft, it would not serve as an actual access pass to the live event in Las Vegas.Meanwhile, this year’s “Inner Circle” guests, which includes fans chosen to represent each team on draft night, will also receive NFTs tied to an onsite prize promotion.The league has continued to explore the potential of NFTs. Back in February, it used the platform for virtual commemorative tickets based on Super Bowl LVI. The NFL also recently released commemorative NFT tickets based on past Super Bowl championship games.A representative of the league reportedly told newsmen that the NFT has so far issued more than 500,000 NFTs tied to ticket purchases since it launched the NFT marketplace. Nearly 45% of the said 500,000 were directly interacted with by their owner, a percentage that the league considers a win in terms of engagement.Continue reading on BTC Peers More
NEW YORK (Reuters) – U.S. investors have apparently been losing their appetite to “buy the dip” during Wall Street’s recent slide, further eroding support for a market pummeled by worries over everything from tightening monetary policy to the war in Ukraine.Options trading data tracked by Vanda (NASDAQ:VNDA) Research showed that purchases of calls – typically employed to express a bullish view of stock prices – have fallen close to year-to-date lows for the tech-heavy Invesco QQQ ETF, which tracks the tech-heavy Nasdaq Composite Index.”There are initial signs that retail might be getting a bit tired of losing their money,” said Lucas Mantle, a data science analyst at Vanda Research. “It’s been a messy couple of weeks.”Retail investors emerged as a powerful force as the S&P more than doubled from its March 2020 lows following the COVID-19 pandemic. They helped fuel rallies in so-called meme stocks like GameStop Corp (NYSE:GME) and AMC Entertainment (NYSE:AMC) Holdings while also betting on shares of massive growth names such as Tesla (NASDAQ:TSLA) and Nvidia (NASDAQ:NVDA) Corp.Buying the dip had become “a generally foolproof strategy” during that time, said Steve Sosnick, chief strategist at brokerage Interactive Brokers (NASDAQ:IBKR). Broader market selloffs were mitigated as investors raced to buy beaten up stocks.A sustained reluctance to capitalize on stock declines now could make this an even more bruising year for equities. The S&P 500, which fell 2.8% on Tuesday, is down 12.4% year-to-date.Data from Interactive Brokers pointed to further signs investors may be more hesitant to jump in during stock weakness, with margin lending at the brokerage steadily declining this year since peaking at the end of 2021, Sosnick said.”All seemingly foolproof strategies run their course,” he said, adding that “many who were conditioned to reflexively buy dips learned the hard way that not every dip was indeed a buying opportunity.”As market volatility has increased this year and the buzz around so-called meme stocks has eased, users at TradeZero have been less active, said Dan Pipitone, chief executive officer of the online brokerage.”We went from a hyper-trading environment to now, more of a buy-and hold approach, while also taking on some intra-day trades … on single names that may be less impacted by outside forces and things that are unpredictable like the war in Ukraine or the supply chain,” he said. More
The hacker compromised BAYC’s official Instagram account, using it to post a phishing link that withdrew tokens out of users’ cryptocurrency wallets. Continue Reading on Coin Telegraph More
