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ETH-USD

On Sunday, 10,910.86 Ether (ETH) worth $38.7 million was burned, permanently removing it from circulation. This follows the EIP-1159 upgrade to the Ethereum blockchain, which introduced a variable base fee for transactions that is burned. The current issuance rate of new Ether is 4% per year, expected to drop to 0.5-1% with Ethereum 2.0, potentially making ETH a deflationary currency. The net annualized issuance rate for Ether was -13.15% yesterday.

Portfolio Pulse from Benzinga Insights

March 04, 2024 | 6:00 pm

SONY

The release of the Shadow of the Erdtree expansion trailer for Elden Ring, developed by Sony Group Corp.'s FromSoftware, has significantly increased player engagement on Valve's Steam platform, with player counts rising to 112,406 in the last 24 hours from 45,866 the day before. The game also climbed the ranks on Xbox's most-played games list, moving from 36th to 21st. The expansion, set for release on June 21, includes new bosses, abilities, and gameplay enhancements.

Portfolio Pulse from Franca Quarneti

March 04, 2024 | 5:52 pm

COIN

Coinbase has reported that a small subset of its users may experience intermittent zero balances across their accounts and latency across pages. However, trading activities are not impacted at this time, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 5:41 pm

PLTR

PP

SHLD

Palantir Technologies Inc (NYSE:PLTR) has partnered with Ukraine's Ministry of Economy to digitize the country's land demining efforts using Palantir's AI technology. The goal is to make 80% of potentially contaminated land usable within ten years by enhancing decision-making in mine action. Palantir's AI Platform will integrate data to map hazards and improve resource allocation for demining. The company reported a 20% increase in Q4 revenue year-over-year, meeting analyst estimates. Investors can also gain exposure to Palantir through Global X Funds Global X Defense Tech ETF (NYSE:SHLD) and Tidal ETF Trust II The Meet Kevin Pricing Power ETF (NYSE:PP).

Portfolio Pulse from Anusuya Lahiri

March 04, 2024 | 5:38 pm

EA

Electronic Arts Inc (NASDAQ:EA) announced layoffs and game cancellations but confirmed the Star Wars strategy game, developed by Bit Reactor and produced by Respawn, remains unaffected. Despite the industry's challenges and a shift away from licensed IP, this game and Star Wars Jedi 3 continue development. EA's focus is now on owned IP, sports, and online communities.

Portfolio Pulse from Franca Quarneti

March 04, 2024 | 5:38 pm

RDHL

RedHill Biopharma is set to be issued U.S. Patent Number 11,918,560, titled 'Serine Protease Inhibitor For Treating Coronavirus Infection.' This development could potentially enhance RedHill's position in the market for coronavirus treatments.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 5:35 pm

RNA

Avidity Biosciences Inc (NASDAQ:RNA) reported positive long-term data from the MARINA-OLE trial for its lead program, AOC 1001, showing disease progression reversal in myotonic dystrophy type 1 (DM1) patients. The data align with key endpoints of the Phase 3 HARBOR trial. Avidity announced the acceleration of the HARBOR trial and the approved name for AOC 1001 as delpacibart etedesiran (del-desiran). Over 265 infusions have demonstrated del-desiran's safety and tolerability. However, RNA shares dropped 9.75% to $18.15.

Portfolio Pulse from Vandana Singh

March 04, 2024 | 5:28 pm

COIN

Coinbase Global, Inc. (NASDAQ:COIN) shares are trading higher amid a Bitcoin rally above $66,000. The increase in Bitcoin's price has led to heightened trading activity on Coinbase's platform, which experienced a major outage last Wednesday due to unprecedented traffic. Despite the outage, Coinbase assured users their funds were safe. Coinbase CEO Brian Armstrong acknowledged the platform's preparation for increased traffic but admitted the actual volume exceeded expectations.

Portfolio Pulse from Erica Kollmann

March 04, 2024 | 5:24 pm

JPM

JPMorgan Chase & Co.'s subsidiary, Neovest, Inc., has acquired LayerOne Financial to enhance its investment platform offerings for hedge funds. The acquisition allows Neovest to provide integrated portfolio, order, and execution management services through a unified platform. This platform will be available in a modular framework, enabling hedge funds to either deploy the full platform or integrate specific modules with their existing systems.

Portfolio Pulse from Lekha Gupta

March 04, 2024 | 5:11 pm

NIO

Nio Inc (NYSE:NIO) is set to report its Q4 financial results, with analysts expecting a loss of 55 cents per share and revenue of $2.34 billion. The company previously missed revenue estimates and reported a loss of 44 cents per share in the same quarter last year. Analysts have recently downgraded NIO and lowered price targets. Key items to watch include updates on vehicle production, deliveries, and the ET9 luxury sedan's pre-orders. NIO's shares are nearing 52-week lows, down 39% over the last year.

Portfolio Pulse from Chris Katje

March 04, 2024 | 5:10 pm