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XRP price analysis: XRP could slip below the $1 psychological point
The cryptocurrency market is shading off some of its recent gains, with Bitcoin dropping below the $60k level for the first time in weeks. The cryptocurrency market has been underperforming over the past few hours, with the prices of most coins down by more than 3% during that period. Bitcoin touched a new all-time high above $67k last week, but it has dropped below the $60k level for the first time in days following the recent market correction. Ether was heading towards a new all-time high earlier this week after rallying past $4,200, but it is now struggling to stay above the $4,000 level. XRP is also recording huge losses at the moment and risks dropping below a psychological point if the market condition persists. Binance Coin (BNB), Solana (SOL), Cardano (ADA), Polkadot (DOT) and Dog...
Puerto Rico sees resurgence of interest among crypto rich
The United States territory of Puerto Rico is seeing a resurgence of interest among crypto investors attracted by the fact it doesn’t charge federal income tax and eligible investors can pay zero taxes on their crypto gains. Under local law Act 22, those who live in Puerto Rico for at least half of the year are exempt from taxes on interest, dividends and capital gains — meaning they can keep most or all of the profits from crypto or other investments without having to renounce U.S. residency. The popularity of the territory as crypto tax haven was highlighted when news stories emerged that Frances Haugen, the Facebooks whistleblower, had moved to Puerto Rico in March. But it’s been a haven for crypto people for years, including Bitcoin billionaire Puerto Rico who owns a nine bedroom...
Citi’s bullish Coinbase target: ‘Buy crypto’s general store’
Financial services multinational Citi initiated coverage of U.S. crypto exchange Coinbase’s stock this week with a very bullish price target. Citi analyst Peter Christiansen told investors that they could “buy crypto’s general store,” in a research note published on Tuesday, Oct. 26. Citi has given COIN a bullish price target of $415 which is substantially higher than Monday’s closing price of $319. The analyst stated that the stock offers investors “direct exposure to increased retail and institutional adoption of cryptocurrencies.” The multinational banking giant sees the potential in Coinbase as the company makes continued efforts to expand its operations beyond just a crypto exchange and into other areas such as NFTs and cold wallet storage. The company accrued more than a million appl...
Redditors cheer as GameStop assembles team of NFT experts
GameStop (GME) is assembling a team of blockchain and NFT experts to work on the firm’s upcoming NFT platform. The firm’s GME stock is a cult favorite amongst retail traders as a result of the r/wallstreetbets and Robinhood saga earlier this year. On Reddit the r/Superstonk community boasts 659,000 members, and is dedicated to hosting business and stock discussions related to GME. A post about GameStop’s job listings yesterday has received more than 10,000 upvotes at the time of writing, with many members posting bullish sentiments over GameStop’s latest move. GameStop quietly unveiled a bare-bones website for its NFT marketplace in May. The site currently features a Nintendo Gameboy-style gaming console with an Ethereum logo, along with a message calling out for recruits to work on the pl...
Bitcoin drops $1K in five minutes in fresh dip below $60K
Bitcoin (BTC) fell sharply on Oct. 27 as $60,000 finally gave way to two-week lows. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin bites into major buy wal Data from Cointelegraph Markets Pro and TradingView showed BTC/USD nearing $58,000 at the time of writing, hitting its lowest since Oct. 15. The move follows multiple retests of $60,000, with Bitcoin now taking liquidity in a large support wall with $57,000 as its base. Analysts, as Cointelegraph reported, were already prepared, with some data suggesting a deeper dive to a low as $50,000 would still preserve the overall bull trend. #Bitcoin couldn’t break through $63.6K and tests the other side of the range. Might be dropping another time if $61.6K can’t break and then I’m looking at $58K next...
Ryman Hospitality Properties, Inc. Revives Plans to Acquire Austin’s Block 21 Complex
The deal is set to close near the end of the fourth quarter of this year. Opry Entertainment, one division of Ryman Hospitality Properties, includes the Grand Ole Opry, Ryman Auditorium, WSM 650 AM, Ole Red, and Circle, a country lifestyle media network owned via a joint venture with Gray Television. The $260 million price tag includes the assumption of nearly $138 million of existing mortgage debt. Ryman Hospitality Properties will also receive approximately $11 million of existing cash reserves. Colin Reed, chairman and CEO of Ryman Hospitality Properties, said, “We are pleased to again have the opportunity to add this one-of-a-kind asset to our growing entertainment portfolio. Much like Nashville, Austin’s leisure and hospitality industry is recovering and is well-positioned for growth ...
Daniel O’Donnell Extends U.K. Chart Record With ‘60’
The latest, easy-listening effort is produced by Nigel Wright, who worked on the records of many Andrew Lloyd Webber musicals, including the film versions of Evita — starring Madonna and Antonio Banderas —The Phantom of the Opera, and other TV and film projects. On the LP, O’Donnell performs versions of such standards as “Let Your Love Flow”, “I’ll Never Find Another You”, “Happy To Be On An Island In The Sun” and “Somethin’ Stupid,” a duet with his wife Majella. For the record, O’Donnell is still 59. He doesn’t turn 60 until Dec. 12. You Deserve to Make Money Even When you are looking for Dates Online. So we reimagined what a dating should be. It begins with giving you back power. Get to meet Beautiful people, chat and make money in the process. Earn rewards by cha...
FTX buys Super Bowl ad slot, signs David Ortiz
Cryptocurrency exchange FTX has grown its presence in the sporting world over the past few months with numerous sponsorships. FTX, one of the fastest-growing crypto exchanges in the world, has bought an advertisement slot in one of the most-watched sporting events in the United States. The cryptocurrency’s advert will be shown at the championship game of the National Football League, which will take place in February 2022. Bloomberg reported that FTX bought an ad in this year’s Super Bowl LVI as it seeks to reach a wider audience and promote its cryptocurrency exchange business. FTX has been growing its audience via many avenues, including sports. Over the past few months, the digital asset exchange has partnered with numerous sporting institutions, including Major League Baseball (MLB). T...
Robinhood Sees Crypto Trading Revenue Drop From $233 Million USD to $51 Million USD
Trading platform Robinhood has been hit with a significant decline in revenue over the last quarter, largely attributed to a plummet in cryptocurrency trading volume. According to new reports, the company brought in $365 million USD over the third quarter of 2021, coming significantly short of the expected $431.5 million USD. The figures represent a 36% drop in average revenue per user down to $65 USD from $102 USD, with revenues from cryptocurrency trading being affected the most, seeing a plummet from $233 million USD during the second quarter to just $51 million USD over the last three months. The company explained that the large contrast in crypto results over these two quarters can be explained by an anomalous surge in the interest in Dogecoin earlier, a phenomenon that was not repeat...
Microsoft’s Fiscal Q1 Results Sees Fastest Growth In Three Years
The tech industry continues to power on as Microsoft records the fastest growth it has seen since 2018 in this year’s fiscal first quarter. According to reports, the company brought in revenues of $45.32 billion USD over the last three months, marking an increase of 22% year over year and the best results it has seen in the past three years. Earnings per share come in at $2.27 USD, surpassing the analyst-expected $2.07 USD. Its net income also rose by a whopping 48%, reaching $20.5 billion USD. Across the business, Microsoft’s Intelligent Cloud division performed particularly well, growing 31% year over year to rake in $16.96 billion USD. Within that department, the company’s Azure and other cloud services grew by 50%, higher than Microsoft’s own predictions. The Productivity and Business ...
Google’s Parent Company Alphabet Trumps Expectations by Bringing In $65 Billion USD in Q3 2021
Google’s parent company Alphabet has followed up its immense growth in the second quarter of this year with yet another quarter of exceptional financial results. Beating Wall Street expectations almost across the board, the tech giant saw revenues of $65.12 billion USD over the past three months, with earnings per share at $27.99 USD. Advertising, in general, performed particularly well, seeing a 43% increase to $53.13 billion USD from $37.1 billion USD the same period last year, $7.20 billion USD of which came from YouTube ad revenue alone. Google’s cloud division also saw immense growth, recording a 45% climb to now $4.99 billion USD while narrowing operating loss down from $1.21 billion USD to $644 million USD. Despite great results, Google’s chief business officer Philipp Schindler als...
Tesla May Soon Accept Bitcoin As Payment Again
Tesla may soon start accepting Bitcoin as payment, according to a recent filing with the U.S. Securities and Exchange Commission. According to the document, filed in relation to the company’s recent earnings report, Tesla detailed their holding of $1.5 billion USD in Bitcoin and said it might consider accepting cryptocurrency as payment. “We may in the future restart the practice of transacting in cryptocurrencies (“digital assets”) for our products and services,” Tesla wrote. The electric car company previously accepted Bitcoin as payment from March to May of this year before halting the practice. CEO Elon Musk cited concerns about the environmental impact of mining Bitcoin. “We are concerned about rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especially coal...
