Streetbeat News

Assets

ETHUSD

On Monday, 9,915.61 Ether (ETH) valued at $20,130,574 was burned, permanently removing it from circulation. This is a result of the EIP-1159 upgrade implemented on August 5th, 2021, which introduced a variable base fee for transactions that is burned. Ethereum's current issuance rate is 4% per year, expected to drop to 0.5-1% with Ethereum 2.0, potentially making ETH deflationary. The net annualized issuance rate for Ether was -12.40% yesterday, according to Glassnode.

Portfolio Pulse from Benzinga Insights

November 14, 2023 | 6:00 pm

BTCUSD

Mark Yusko, CEO of Morgan Creek Capital Management, at Benzinga's Future of Digital Assets event, shared his vision of Bitcoin becoming the primary settlement layer for all global assets. He compared the current state of digital assets to the early days of the internet and sees blockchains as the future backbone for the 'Internet of Everything.' Yusko believes that Bitcoin's security and decentralized nature will make it the base layer for asset transfer and settlement, despite initial skepticism and regulatory challenges faced by the industry.

Portfolio Pulse from Murtuza Merchant

November 14, 2023 | 5:52 pm

DIA

GDX

IWM

QQQ

SPY

TAN

TLT

UUP

The October CPI report showed a decrease in the annual inflation rate to 3.2%, below expectations, and a drop in core inflation to 4%, signaling easing inflationary pressures. Financial analysts believe this could lead to a pause in the Fed's rate hikes, potentially avoiding further rate increases in December. Markets reacted positively, with a rally in stocks and a drop in the U.S. dollar and Treasury yields. The Invesco DB USD Index Bullish Fund ETF (UUP) saw a 1.1% decline, while the iShares 20+ Year Treasury Bond ETF (TLT) surged by 2.3%. Stock ETFs like SPDR S&P 500 ETF Trust (SPY), Dow Jones Industrial Average ETF (DIA), Invesco QQQ Trust (QQQ), and iShares Russell 2000 ETF (IWM) experienced significant gains. The VanEck Gold Miners ETF (GDX) and Invesco Solar ETF (TAN) were among the best-performing industries.

Portfolio Pulse from Piero Cingari

November 14, 2023 | 5:27 pm

AMZN

BTCUSD

ETHUSD

John Liu suggests that institutions will increasingly accept digital assets and should focus on integrating tokenized assets such as NFTs into loyalty and engagement platforms.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 5:01 pm

ING

ING Groep's (NYSE:ING) short interest has increased by 28.57% since the last report, with 3.30 million shares sold short, representing 0.09% of available shares. It would take about 1 day to cover all short positions. While this rise in short interest could indicate bearish sentiment, it is lower than the peer group average of 0.85% short interest as a percentage of float.

Portfolio Pulse from Benzinga Insights

November 14, 2023 | 4:45 pm

MU

Micron Technology (NYSE:MU) has seen a decrease in short interest, with the short percent of float dropping 6.77% since the last report. The company has 19.64 million shares sold short, which is 1.79% of available shares, taking traders 1.69 days to cover on average. This decline in short interest may indicate a more bullish sentiment among investors, although it does not necessarily predict a near-term price rise. Micron's short interest is below its peer group average of 3.64%.

Portfolio Pulse from Benzinga Insights

November 14, 2023 | 4:45 pm

NSC

Norfolk Southern's (NYSE:NSC) short interest has decreased by 7.09% since the last report, with 2.67 million shares sold short, representing 1.18% of available shares. The average time to cover these short positions is 1.87 days. Short interest is a market sentiment indicator, and a decrease suggests investors may be more bullish on NSC. Compared to its peers, NSC has a higher short interest percentage of float (1.18% vs. peer average of 0.94%).

Portfolio Pulse from Benzinga Insights

November 14, 2023 | 4:45 pm

AMZN

BTCUSD

ETHUSD

John Liu commented on the benefits of stable coins, highlighting that they settle instantly and PYUSD represents an open standard for everyone to build upon, without reliance on other financial institutions.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 4:44 pm