The cryptocurrency market has been experiencing a bearish sentiment over the past week, with the total market cap currently standing at $2.04 trillion. This represents a 0.39% decrease over the last day, causing concern among investors as the market cap approaches the significant $2 trillion mark. Bitcoin, the largest cryptocurrency in terms of market capitalization,
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Recently, PDD’s stock took a major hit, dropping nearly 30% due to disappointing quarterly results. This decline was attributed to comments made by PDD’s chairman and co-CEO, Chen Lei, warning about potential future profit declines. However, despite the negative reaction from investors, the company’s revenue actually grew by almost 90% from the previous year, with
China’s housing market is facing continued challenges as government support and stimulus measures fail to meet expectations. JPMorgan economist, Haibin Zhu, expressed concerns that the current housing market crash is far from over, predicting that home prices will not stabilize until at least 2025. Recent data shows that the average price for new home sales
The year 2024 has witnessed a significant increase in restaurant bankruptcy filings, reflecting a broader trend of corporate bankruptcies across various sectors. At least 10 restaurant chains have filed for bankruptcy so far, with three of them filing for Chapter 11 protection in August alone. This surge in bankruptcies can be attributed to multiple factors,
The cryptocurrency market is bracing itself for a potentially tumultuous month of September, as upcoming economic data releases, particularly those related to employment, could have a significant impact on the performance of digital assets. It is crucial to examine how these events might shape the digital asset landscape and traditional markets in the coming weeks.
Peaq, a groundbreaking blockchain platform, is gearing up for the launch of its layer-1 blockchain platform between September 22 and September 30. This announcement has sparked excitement within the blockchain community, as Peaq aims to revolutionize decentralized infrastructure networks (DePIN) and bring about a new era of possibilities in the world of blockchain technology. Peaq,
In the midst of ongoing manufacturing issues plaguing Boeing, Artisan Partners’ Chris Smith suggests that GE Aerospace is poised to come out on top. Smith points out that GE has essentially established a monopoly with their new leap engine, set to be featured on all new narrow-body planes. This engine is projected to power more
REA Group, owned by Rupert Murdoch’s News Corp, has announced its intention to potentially acquire the U.K. property portal Rightmove in order to establish a global digital real estate enterprise. This move signifies a strategic shift towards expanding their market presence and consolidating their position in the real estate industry on an international scale. Following
The past month has been challenging for Bitcoin, with the leading cryptocurrency experiencing a 10.25% slide – its worst performance since April. This decline was reflected across the crypto market, with ether dropping 23.66% in its third monthly drawdown and worst month since June 2022. Despite isolated success for Bitcoin due to ETFs in 2024,
The U.S. dollar has declined marginally on Monday amid holiday-affected trading, with investors eagerly anticipating key labor market data to gauge the possibility of Federal Reserve interest rate reductions. The Dollar Index, reflecting the performance of the greenback against a basket of six other currencies, is 0.1% lower at 101.577, dropping from the recent peak