- Dow Jones Industrial Average (DJIA) stock market futures pushed higher on Wednesday.
- The Nasdaq is just inches away from reclaiming its all-time high in the backdrop of a global crisis.
- Traders are now getting ‘greedy’ according to the CNN fear and greed index – a notorious warning sign for a frothy market.
Stocks continue their unstoppable rise higher, despite a backdrop of global recession, health crisis, and mass protests across America. Dow futures point to another 150 rise on Wednesday morning.
Incredibly, the tech-heavy Nasdaq Composite index is within touching distance of its all time high. There’s a growing sense of FOMO in the markets, and traders are starting to get greedy.
CNN’s fear and greed index just flipped into ‘greed’ – a contrarian indicator that suggests stocks are getting overbought. Source: CNN
The CNN fear and greed index just tipped into ‘greed’ territory, with a reading of 58. It suggests investors are getting complacent. It’s also a notorious warning that stocks are getting ahead of themselves.
Dow futures soar as Nasdaq teases all-time high
The Dow looks set to continue yesterday’s gains, with futures up 204 points (0.8%) in early trading Wednesday.
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Revenue for Bitcoin (BTC) miners plunged 48% a day following the third halving, as the full impact of the periodic supply cut event began to take effect. According to data from crypto company Blockchain, the total value of block subsidies and transaction fees paid to miners crashed to $8.95 million on May 12 from $17.16 million the previous day. The third Bitcoin halving of May 11 reduced the rate at which new coins are created, cutting the bonus paid to miners for solving complex mathematical puzzles that underpin the network by 50% to 6.25BTC per block. Revenue peaked at $20.61 million on May 6, but has trended downwards ever since. Per the Blockchain data, miners revenue oscillated between $7.89 million and $28.60 million over the past 52 weeks, with the lowest point reached in March when the price of BTC tanked as much as 27% in a day. Of the post-halving miners’ income, roughly 13% is made up of transaction fees, the figures show. Fees are paid each time a Bitcoin transaction is processed and confirmed by a miner, who…May 14, 2020
A new study by Chainalysis finds that terrorists are refining their financing operations using cryptocurrencies. Faster and broader funding Earlier today, Jan. 17, the blockchain analysts identified Izz ad-Din al-Qassam Brigades (AQB), Hamas’s military arm and noted terrorist organization, as the first confirmed case of terrorists using cryptocurrency to aid their activity. AQB used a website to generate a new Bitcoin address for each donor to deposit funds. It included a how-to video on donating with maximal anonymity. Compared to similar earlier campaigns, AQB raised as much money and garnered more donors but in less than half the time. Cryptocurrency has been linked to crime before, including Ponzi schemes and hate crimes. In other recent research, Chainalysis tracked $2.8 billion in Bitcoin from criminal enterprises to exchanges. Over 50% — $1.4 billion in Bitcoin — moved through major exchanges Binance and Huobi. Law enforcement response Crypto-enabled crime has caught the attention of regulators and government officials who would like greater oversight of digital currencies. Last year, Treasury Secretary Steve Mnuchin, speaking at a gathering of the Financial Action Task Force (FATF),…Jan 18, 2020
Bitcasino Enables TronLink Browser Extension To Bring Users Secure Deposits and Withdrawals » The Merkle News
Leading bitcoin betting site Bitcasino has announced that it has added the TronLink browser extension to enable fast, and secure transactions, for all TRON users. 24 March 2020, Tallinn, Estonia – The world’s first licensed Bitcoin-led casino operator, Bitcasino, has integrated the TronLink browser extension, giving its players the option to seamlessly deposit and withdraw TRON. The TronLink extension allows Bitcasino players to access the TRON (TRX) blockchain on their browser, enabling the deposit and withdrawal of funds, in a safe, and secure manner. TronLink protects the user’s funds and private key but will still allow interaction with the blockchain, without the need to share one’s private key first. For the extension to work, players need to be logged onto their Bitcasino account and extension. Bitcasino account deposits are instant, and withdrawals are deposited to players wallets within only a few seconds. The TronLink extension can be downloaded from the browser web store. Tauri Tiitsaar, Director of Bitcasino, stated that: “Crucially TronLink offers our players both security and speed with deposits and withdrawals; it is the next innovative step in…Mar 25, 2020
Binance’s research department suggests that a so-called alt season may be approaching the cryptocurrency market. Reduced Bitcoin trading Binance Research, the market research arm of major cryptocurrency exchange Binance, released a report on Mar. 6 suggesting that the altcoin market will see renewed activity. Bitcoin trading volume dominance decreased from 40% to 27% in February, which the researchers recognize as one of the sharpest month-over-month changes. The researchers suggest: “If this trend were to continue, it would signify a greater appetite for altcoins from market participants.” Ethereum sees renewed interest by traders Furthermore, interest in Ether (ETH) trading steeply rose, with a total monthly volume increase of +158.6%. The aggregate spot trading volumes also increased by 69% in daily average compared to January. Overall, February was a month of great volatility for the cryptocurrency market: “The top event of the month was ETHDenver, with many hackathon projects on Ethereum building various projects. Many of them highlighted Ethereum’s pending switchover to Proof-of-Stake and the composability of smart contracts built on top of each other.” Ethereum seems to be enjoying renewed interest…Mar 6, 2020
Very few banks, or even countries, emerged unscathed from the rubble of the 2008 global financial crisis. The aftermath of the worldwide recession coincided with profound technological innovation and breakthroughs that have forced banks and other financial service providers to reconsider their approach to doing business. New regulation and investor demands have forced banks to move toward a more efficient, transparent and compliant operating model. Although Wall Street has cottoned on to these developments, the big question still remains: Are banks ready to leave old business processes behind to embrace new blockchain-based technological breakthroughs? Now, more than ever, distributed ledger technology offers real-time solutions for banks to overcome the challenges sweeping across the financial world. Immutable data storage and tracking records can offer cost-savings on an enormous scale for banks while removing cumbersome manual processes. All of this will serve to boost value-added activities and better manage banks’ compliance and risk management operations. As the coronavirus pandemic sends markets into a tailspin, banks are once again facing the same crossroads, which lay before them between 2008–2012. Can capital markets replicate…Apr 19, 2020
Paradigm Labs is closing down after concluding that interest in decentralized finance (DeFi) came too late in the company’s life cycle. ,Mar 11, 2020
Twitch streamer Corinna Kopf announces that she is moving to Facebook Gaming. The streamer has been criticizing Twitch after it banned her for a video of an old stream. Disguised Toast also moved from Twitch to Facebook Gaming last month. Twitch streamer Corinna Kopf has announced she is quitting Twitch to jump platforms over to Facebook Gaming. The streamer, who has 412,922 followers on Twitch, is moving to Facebook’s gaming platform after Twitch banned her for clothing she wore in an old stream. In a tweet and in a video posted to her Facebook page, the streamer said: As a female gamer, it’s so important for me to find a home that not only empowers myself but also all of you, in order to make a positive impact in the gaming world. Few fans are surprised to see the streamer move to Facebook Gaming. After Twitch banned her, many asked her to move to Mixer or YouTube. That was on December 1 and while it took Twitch just a couple of days to allow her to stream again, it prompted…Jan 2, 2020
Michael Terpin is the founder and CEO of Transform Group, a diversified blockchain services group based in San Juan, Puerto Rico, where he is currently sheltered in place. What more could a burgeoning technology ask for to thrive? Massive global unemployment, cascading in waves as a viral pandemic shutters most parts of the non-digital economy, has put the world on the precipice of the “everything bubble” Satoshi Nakamoto sought to inoculate us against with the creation of bitcoin. This is both the moment the cryptocurrency community has both eagerly awaited and dreaded. A global pandemic hitting just as sovereign currencies are being architected should serve as an accelerator for rapid issuance and acceptance. This should be true in particular for teetering third-world economies lacking a global reserve currency to inflate their monetary bases without hyperinflationary hell to pay. Additionally, there are undeniable health and hygiene benefits over paper currencies, not just better trackability for tax collection and law enforcement purposes. See also: How Blockchain Tech Can Make Coronavirus Relief More Effective The wheels of legislative and regulatory approval grind slowly…Apr 22, 2020
Stock market volatility is high due to uncertainties regarding Covid-19 and how it will impact the economy. Dividend stocks usually withstand economic shocks better than growth stocks. High and sustainable dividends provide some buffer to your portfolio as you keep getting them during market downturns. Stock markets have been very volatile lately as a coronavirus-induced recession is looming. But a recession does not necessarily mean that you’ll lose all your money. Even when markets are plunging, you can still make money on stocks. High-yield dividend stocks can be an excellent investment during a recession. Dividend Stocks Generally Withstand Recessions Better Than Other Stocks High-yield stocks are usually less volatile than growth stocks. Investors are more willing to keep these high-income stocks during a bear market. Historical 260-day annualized volatility of the S&P 500 Index and the S&P 500 Dividend Aristocrats Index, from 6/30/2014 to 6/30/2019. | Source: Invesco Growth stocks that don’t pay dividends, like Netflix (NASDAQ:NFLX), are nice to have in a bullish market as its share price can rise more than the average. But during a market downturn,…Mar 28, 2020
It’s been 11 days since the third bitcoin block reward halving. Data now shows that the overall SHA256 hashrate lost around 47 exahash per second (EH/s), since the all-time high of 140 EH/s on May 3. With more than 33% of the hashrate lost, reports stemming from Sichuan China indicate that bitcoin mining operations have been dealing with electrical shortages, and some operations have been forced to shut down machines. Bitcoin Hashrate Lost 47 Exahash of Hashrate Since the ATH, Difficulty Sees a 6% Downward Adjustment Just before the third bitcoin halving, which cut miner revenue by 50%, the overall BTC hashrate spiked to around 140 EH/s on May 3, 2020. The network hit this monumental milestone, seven days before the notorious block reward halving. After the halving was complete, observers noted that the hashrate only dipped by 10-15% around 48 hours later. However, hashrate charts and data have some significant lag, and most of the time hashrate is measured in 3-12 hour intervals. May 20, 2020, Blockchain.com BTC hashrate stats. For instance, Blockchain.com statistics show the BTC hashrate is…May 24, 2020