The crypto-asset fund, to be traded and operated by the SBI Alternative Fund, was established on Dec. 02 with a dedicated capital of 5 million yen, worth approximately $45,000 at the time of writing. However, the company may choose to release the capital in smaller break-ups of 1 million yen each. Continue Reading on Coin Telegraph More
Established in 2014, Morning Consult has built a data collection technology platform with industry-leading quality standards and access to more than 100 million people globally to collect more than 15 million interviews in over 100 countries annually.Its fastest growing brands report is the definitive measure of brand growth for both emerging and established brands, showcasing a wide range of companies and products that have accelerated their consumer appeal and awareness in 2021. This year’s report ranks the top 20 fastest growing brands that have seen the biggest rise in purchasing consideration and how that is playing out across generations. Crypto exchange platform Coinbase saw the biggest uptick in growth of the six financial services names on this year’s list. This recognition comes as its banner cryptocurrencyBitcoin, which also secured a place on this year’s rankings, reached a new all-time high in November. Coinbase debuted its initial public offering in April and has been trading below its initial price since, despite consideration and usage of the app steadily increasing throughout the year. Gen Z adults solidified the crypto exchange platform’s spot on the overall list with double-digit growth in their purchasing consideration (from 10% to 21%), but millennials remain the original and enduring proponents of the app, with 1 out of 4 considering the app and a roughly equal share (26%) saying they already use it.Among the other top-ranking crypto brands, Bitcoin is the most widely known, and it continues to grow in awareness and popularity among U.S. adults. Like Coinbase, its place on the list of fastest growing brands is due largely to Gen Z’s impressive uptake in purchasing consideration of the brand, from 19% in January to 28% by the end of October. Taken together with the other crypto apps that dominate the fastest growing brands list, such as Afterpay and Chime, it’s evident that younger consumers are looking for new ways to manage their finances, grow wealth, and make purchases — which is reshaping the definition of money in the 21st century.Morning Consult’s “Fastest Growing Brands of 2021” rankings are determined by surveying tens of thousands of people across the globe on over 4,000 brands and products every day. The “Growth” score represents the net shift between the share of consumers who said they were considering purchasing from the brand in January 2021 and the share who said the same in October.On The FlipsideWhy You Should Care?2021 saw a branding breakout for cryptos and the crypto economy. Adoption will likely continue for both the crypto-micro and macro in 2022. EMAIL NEWSLETTERJoin to get the flipside of cryptoUpgrade your inbox and get our DailyCoin editors’ picks 1x a week delivered straight to your inbox.[contact-form-7]
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Per SEC regulations, it cannot provide any details about shares or prices until after a quiet period is over to protect trade secrets from being leaked before an initial public offering (IPO) date is set. The SEC filing confirmed long-running rumors about Reddit’s plans for a public offering.Continue Reading on Coin Telegraph More
This caps a big year for institutional finance interest in crypto. There was Coinbase’s monstrous $64 billion NASDAQ direct listing, while large pre-initial public offering (-IPO) venture capitalists (VCs) like Andreessen Horowitz (a16z) have also launched their own billion-dollar funds focused exclusively on crypto.Continue Reading on Coin Telegraph More
LionTree, a popular financial advisor and investment banking firm, is looking into cryptocurrencies as a payment option. In its year-end letter, Chairman and CEO Aryeh Bourkoff talks about crypto as a potential tool for empowering individuals and explores some of the biggest trends in crypto, such as decentralized finance (DeFi) and nonfungible tokens (NFTs).Continue Reading on Coin Telegraph More
Data from Cointelegraph Markets Pro and TradingView confirms that Bitcoin bulls have at least something to celebrate as 2021 draws to a close.Continue Reading on Coin Telegraph More
It said the agreement means drivers will not have to load and unload goods from trucks, a “historic claim of the sector that benefits working conditions.” The agreement will also halve the amount of time drivers will have to wait before they are entitled to extra pay and ensure tolls on heavy transport are not implemented without the agreement of the national truck driving association. The strike had been called from midnight on Dec. 19 to midnight on Dec. 22. Truck drivers had accused the government of ignoring their grievances and clients of insensitivity and exploitative behaviour.It would have disrupted supply chains and goods delivery at a time of heightened economic activity in the run up to Christmas and New Year celebrations. “This is an historic agreement that improves the conditions for the transport of goods and will make it possible to cancel the stoppages planned for Christmas,” Transport Minister Raquel Sanchez tweeted. More
By Saqib Iqbal AhmedNEW YORK (Reuters) – Investors are scrutinizing the stock market’s narrowing breadth and other signs of ebbing risk appetite, as markets digest a hawkish pivot from the Federal Reserve, soaring inflation and concern over a fresh wave of COVID-19 cases. Only 31% of stocks in the tech-heavy Nasdaq are trading above their 200-day simple moving average despite the index’s 18% year-to-date gain, according to Refinitiv data, the lowest level in at least a year. That number stands at 36% for the small-cap-focused Russell 2000. Stocks in the S&P 500 are faring better, with 68% of constituents trading above that moving-average mark. Still, just five stocks – Apple (NASDAQ:AAPL), Microsoft (NASDAQ:MSFT), NVIDIA (NASDAQ:NVDA), Tesla (NASDAQ:TSLA) and Alphabet (NASDAQ:GOOGL) – have accounted for about half of the index’s gain since April, data published by Goldman Sachs (NYSE:GS) earlier this week showed. The S&P is up about 24% for the year and stands near record highs. Narrowing breadth can presage a period of rocky trading, with deeper-than-average drawdowns and weaker overall returns, Goldman’s data showed. The bank’s analysts said declines may be limited this time around by factors such as strong corporate earnings and a market that may have already priced in a more hawkish Fed. Others are less sanguine. Tom Siomades, chief investment officer of AE Wealth Management, believes investors should brace for more market volatility.”If you can’t live with that, you should definitely dial back a little bit of risk,” Siomades said. The S&P is up 1.2% and the Nasdaq is off 2.4% this month, as the focus on an increasingly hawkish Fed has dried up risk appetite in some corners of the market. The central bank on Wednesday said it would accelerate the unwind of its asset purchases and it paved the way for three quarter-percentage-point rate increases in 2022, as it fights persistent inflation. Frazzled nerves have also been apparent in the Cboe Volatility Index, known as Wall Street’s fear gauge, which stands about 5 points higher than its long-term median. High-growth stocks that thrived in 2020 have tumbled, along with many of the so-called meme stocks that have rallied this year. The percentage of investors with a bullish short-term outlook for the U.S. stock market slid to the lowest level in three months in the latest American Association of Individual Investors Sentiment Survey (AAII), released Friday. Investors next week will be watching U.S. consumer confidence numbers for a read on whether buyers are changing their purchasing habits in the face of worries of high inflation and COVID-19.Narrowing breadth poses several potential risks for stocks, investors said. “In order for the market to continue its advance, it becomes … reliant on fewer and fewer names,” said Peter Cecchini, director of research at Axonic Capital. “Any reversal in the performance of the names carrying the market won’t be met by strength in any of the other parts of the market.”Concentrated positioning can also exacerbate volatility if risk appetite dries up suddenly, sending investors to the exits all at once.”The door might not be wide enough to accommodate everybody that wants to rush out,” said Siomades, of AE Wealth Management. There are signs that recently elevated volatility may be contained. Derivatives markets show volatility expectations falling between Christmas and New Years, said Garrett DeSimone, head quant at OptionMetrics. That roughly coincides with a historically strong period for markets. Since 1945, the S&P has gained an average of 1.2% in the last five days of December and the first two days of January, according to data from CFRA, a phenomenon some investors have dubbed the Santa Claus rally. Meanwhile, a survey of global fund managers by BoFA Global Research’s showed cash allocations at their highest level since May 2020. High levels of cash have in the past been a bullish sign for stocks, the bank said.Narrow stock market breadth can continue for long periods and does not necessarily mean a sharp decline is coming. Breadth in the S&P 500 narrowed for most of the second half of the 1990s, before the dot-com bubble burst around the turn of the century and during the latter part of the last decade, analysts at Capital Economics wrote. Andrew Thrasher, a portfolio manager at Financial Enhancement Group, believes market breadth reveals the condition of the market but does not consider it a trading signal. The past year “has been a poster child example of a market that can bend due to narrow breadth but not break as a result of it,” he said. (This story corrects name of firm in 5th and 14th paragraphs to AE Wealth Management from Advisors Excel Wealth Management) More
