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ETHUSD

SOLUSD

Solana's native token, SOL, has dropped by 12% in the past 24 hours, interrupting its recent rally. The decline follows a peak in price and transaction volume due to airdrops of new tokens like JITO and BONK, which also led to the sell-out of Solana's Saga phone. However, post-airdrop, tokens JITO, WIF, and BONK saw significant price drops. Solana's TVL in SOL also decreased by 17%. Max Keiser commented on the situation, suggesting a 'rug pull' has begun, while analyst Pentoshi expects SOL could drop to the $70s but remains optimistic about holding ecosystem coins.

Portfolio Pulse from Mehab Qureshi

January 08, 2024 | 6:06 am

SHIBUSD

Shiba Inu (CRYPTO: SHIB) burn rate increased by 2500%, with 53.29 million tokens removed from circulation. This follows a year of active community participation in burning SHIB tokens, totaling over 76 billion. The Shiba Inu marketing lead announced incentives for accruing SHIB and LEASH tokens, with 90 million SHIB and LEASH tokens to be distributed in the next four months.

Portfolio Pulse from Mehab Qureshi

January 08, 2024 | 4:11 am

BTCUSD

DOGEUSD

ETHUSD

Major cryptocurrencies Bitcoin, Ethereum, and Dogecoin experienced declines as the market anticipates the decision on the U.S.'s first spot BTC ETF. Bloomberg's Eric Balchunas expects approvals for ETF applicants who met the SEC's requirements. The crypto market cap fell by 4.80%, while U.S. stock futures were mixed. Congressional leaders reached a deal to avoid a government shutdown. Analysts predict a bull cycle for Bitcoin if the ETF is approved, with significant liquidity inflows and potential for a 10x price increase.

Portfolio Pulse from Mehab Qureshi

January 08, 2024 | 3:19 am

IDYA

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) reported a strong balance sheet with $511.1M in cash and securities as of September 30, 2023. The company expects the funds, including $134.7M from follow-on financing and $10M receivable from GSK, to support operations into 2028. IDEAYA announced updates at the J.P. Morgan Healthcare Conference, including international patient enrollment in a Phase 2/3 trial for darovasertib and crizotinib, and various clinical program updates for 2024. The company is also advancing collaborations with GSK and targeting IND submissions and new development candidate nominations in 2024.

Portfolio Pulse from Benzinga Newsdesk

January 07, 2024 | 8:15 pm

ARKF

ARKK

ARKW

COIN

PLTR

Cathie Wood's Ark Invest purchased additional shares of Palantir Technologies (PLTR) valued at $16.5 million across three ETFs (ARKK, ARKW, ARKF) despite a downgrade by Jefferies analyst Brent Thill from 'Neutral' to 'Underperform' with a price target cut from $18 to $13. Meanwhile, Ark continued to sell shares of Coinbase Global (COIN), liquidating 133,823 shares worth $20.61 million.

Portfolio Pulse from Shanthi Rexaline

January 06, 2024 | 4:10 pm

ETHUSD

Crypto analyst CrediBULL Crypto predicts Ethereum (ETH) could reach $10,000 to $20,000 in 2024, representing a 343% to 786% increase from its current price of $2,244.18. The prediction is supported by data from Santiment showing significant accumulation of ETH by whale investors, with the top 150 self-custody wallets holding a record 56.25 million ETH. Exchange wallets hold 9.46 million ETH, the lowest since June 2018, indicating a preference for self-custody among large holders.

Portfolio Pulse from Bibhu Pattnaik

January 06, 2024 | 3:16 pm

BLK

BTCUSD

GBTC

Better Markets CEO Dennis M. Kelleher has warned the SEC that approving a spot Bitcoin ETF would be a 'historic mistake' and could lead to 'massive investor harm.' Bloomberg ETF analyst James Seyffart criticized Kelleher's stance, calling it a 'criminal move.' The SEC is set to decide on the Bitcoin ETF by Jan. 10, with 11 applicants having submitted amendment forms. BlackRock Inc. and Grayscale Investments have met with the SEC to discuss Bitcoin ETFs. BTC's price was slightly up at the time of reporting.

Portfolio Pulse from Rounak Jain

January 06, 2024 | 10:02 am

IBKR

Thomas Peterffy, billionaire founder of Interactive Brokers, shared his worst trade involving DuPont de Nemours Inc. (NYSE:DD), where he lost $80,000, half his capital at the time, due to impatience and a mistake in option trading. He also discussed his investment philosophy, emphasizing logic and independent research over secrets or advice from books.

Portfolio Pulse from Rounak Jain

January 06, 2024 | 9:02 am

BLK

GBTC

A Bitwise and VettaFi survey reveals only 39% of financial advisors believe the SEC will approve a spot Bitcoin ETF in 2024. Firms like BlackRock, VanEck, and Valkyrie Investments await the SEC's decision on their applications. Despite Bloomberg analysts' 90% approval prediction, advisors are cautious, with 88% indicating approval would be a significant trigger for Bitcoin investment. Currently, only 19% of advisors can buy crypto on client accounts, but 98% of those investing in crypto plan to maintain or increase their exposure in 2024. The SEC's deadline for final amendments was Dec. 29, 2023, and Peter Schiff warns of potential market reactions to the approval news.

Portfolio Pulse from Rounak Jain

January 06, 2024 | 4:27 am

BLK

FNF

The U.S. SEC has indicated that issuers of spot Bitcoin ETFs can submit their final 19b-4 filings, which are proposals for rule changes on stock exchanges, as soon as Friday. SEC commissioners are expected to vote on these filings next week. Additionally, issuers need SEC approval for their S-1 filings and ETF prospectus documents. The approval of 19b-4 and S-1 forms may not occur simultaneously, with a gap of days expected between them. Once the S-1 is approved, trading can commence on the next business day. BlackRock, Fidelity, Grayscale, VanEck, Valkyrie, and 21Ark have made recent filings. Bloomberg analyst Eric Balchunas commented that the 19b-4 filings might not pass until Jan. 10 and S-1 approvals could extend to Jan. 16 or later.

Portfolio Pulse from Khyathi Dalal

January 05, 2024 | 10:15 pm