The increase of Ethereum has been driven by the decline in the US dollar which has dropped significantly lately. However, if positive economic data in the U.S. persist, the upward moving in the ETH/USD might come to an end.
Snowflake anticipates raising funds through an IPO later this year. Some of the main venture-capital backers that support Snowflake include Sutter Hill Ventures, Sequoia Capital, Redpoint Ventures, Iconiq and Wing Venture Capital.
Tesla registered its worst single-day drop in history wiping out over $88 billion from its market cap. The S&P 500 Index Committee skipped TSLA stock in its inclusion to the index that led to negative market sentiment.
With a solid mega rally post the March 2020 market crash, the tech sector seems to have entered a strong correction. Analysts say that the sector is currently in the overbought regions and high-valuations of some giant companies are beyond reasonable levels.
The drop in TSLA shares price is largely attributed to the fact that the Tesla company hasn’t been added as the new member to the S&P 500 index.
Nio reported that it had completed deliveries of 3,965 vehicles in August, marking an impressive year-over-year rise of 104.1%. However, the stock hasn’t reacted positively to this announcement.
As the trade war persists between China and Trump’s administration, Investor Sam Le Cornu said China would make good money via the IPO market.
The tech sector which helped Wall Street recover from March 2020 market crash, entered a major correction last week.
According to a report, the monthly CME future contract volume surged by 36.3% to record 203,867 contracts traded from July 2020. Binance was identified as the largest exchange based on the recorded volumes.
DeFi space users have always been affected by a fear of having a “rug pull”. However, insurance may become a cure in this situation.
Nongfu Spring raised over $1.1 billion through its IPO which was oversubscribed 1148 times. Its listing on the Hong Kong stock market makes it one of the biggest listings of 2020.
Shortly after getting 400 million euros from selling the new stock the previous week, Ryanair now plans to raise $592 million in a five-year eurobond sale.
The decline recorded in the tech stocks in the past week appears to have spiked fears amongst SoftBank’s investors.
The U.S. Department of Defense said that there were reports of SMIC’s alleged involvement with the Chinese military and further passing on their chip technology for China’s defense purposes.
“We think this is a big, big – one of the biggest of all time – houses of cards that’s getting ready to fold,” Trainer explained while pointing out the recent Tesla Inc (NASDAQ: TSLA) fundamentals.