Crypto and AI-based initial public offerings last year reportedly dragged down the performance of all US public debuts to fall behind the tech-heavy index S&P 500. Shares of all companies that went public last year, not including closed-end funds and blank-check companies, gained 13.9% on a weighted average basis, underperforming the S&P 500’s comparative 16% … Read more
Nvidia CEO Jensen Huang says there’s a massive race for AI computing power, which could raise questions about how much will be left for crypto mining. Nvidia CEO Jensen Huang said demand for computing resources is “skyrocketing” due to the rapid advancement of artificial intelligence models, calling it an “intense race” to the next frontier … Read more
Bitcoin accumulation by whales and recent profit-taking by retail traders could be seen as bullish and leading to more upward market momentum, according to Santiment. Crypto markets “typically follow the path of key whale and shark stakeholders, and move in the opposite direction of small retail wallets,” said on-chain analytics platform Santiment on Monday. Whales … Read more
The son of legendary investor Bill Miller has joined a chorus of analysts who predict Bitcoin will set a new all-time high this year, buoyed by regulatory momentum in the US and continued adoption on Wall Street. “Technicals are really starting to line up and it looks like it’s ready to go again. I personally … Read more
The Ethereum network validator exit queue has fallen back toward zero for the first time since July last year, which could reduce selling pressure, analysts say. According to data from Beaconcha.in, the current exit queue is just 32 Ether (ETH), with a wait time of around a minute. It is down 99.9% from its peak … Read more
Fundstrat Global Advisors co-founder Tom Lee said Monday Bitcoin BTC$93,851.71 has not yet peaked and could reach a new all-time high as soon as this month, doubling down on a bullish crypto and equity outlook during a CNBC Squawk Box appearance. “I don’t think bitcoin has peaked yet,” Lee said. “We were overly optimistic about … Read more
Coinbase shares spiked 8% after Goldman Sachs upgraded COIN from “neutral” to “buy” as it upped its 12-month price target on its growing diversification. In a report on Monday, Goldman Sachs analyst James Yaro said the bank has “selective optimism” about US brokers and “structurally growing crypto infrastructure businesses” such as Coinbase. The firm upgraded … Read more
Major public US crypto companies rallied double-digits on Monday after a crypto market rally that saw major tokens hit multi-week highs. Crypto infrastructure platform Bakkt (BKKT) led Monday’s gains with a nearly 31.5% rise, and climbed nearly 5% after the bell to $15.52. Bitcoin (BTC) treasury company Kindly MD (NAKA) was among the top five … Read more
US companies moving into Venezuela to extract the country’s enormous crude oil reserves could lower electricity prices for Bitcoin miners and improve their profitability margins, analysts at crypto exchange Bitfinex said. “Cheaper and more abundant energy would improve miner margins globally and could unlock a new phase of mining expansion, particularly in regions able to … Read more
Filecoin FIL$1.4919 rallied 6% on Monday to $1.59 during the 24-hour period, outperforming the wider cryptocurrency market. The broader market gauge, the CoinDesk 20 index, was 2.2% higher at publication time. The storage token climbed from $1.51 to $1.59 over the session, carving out a $0.21 range (13.9%) while volume registered at approximately 91% of … Read more