Macroeconomics and financial markets
In the US NY stock market on the 17th, the Dow closed at $391 (1.1%) lower than the previous day.
Financial giant Goldman Sachs announced its financial results, and the stock price fell 6.44% from the previous day.
Corporate activities such as M&A (mergers and acquisitions) and fundraising have slowed significantly due to the tightening of monetary policy by the US financial authorities and the deterioration of sentiment such as the situation in Ukraine. Earnings at Goldman Sachs’ core investment banking and trading divisions fell sharply.
On the 10th, plans to lay off 3,200 workers, the largest since the 2008 Lehman shock, were revealed to prepare for the risk of the US economy falling into recession.
Relation:Goldman Sachs to cut 3,200 jobs
On the other hand, in terms of individual stocks, US largest exchange Coinbase stock continued to rise by 8.3% from the previous day, Micro Strategy, which holds a large amount of Bitcoin, rose by 8.7%, and mining-related company Hut 8 rose by 17%. The crypto asset (virtual currency) related stocks, which had been oversold, were reviewed and bought, and the sector rose across the board.
Relation:Financial market tankan on the morning of the 18th | NY Dow declines Coinbase and virtual currency mining stocks soar
Virtual currency market
In the crypto asset (virtual currency) market, Bitcoin rose 0.29% from the previous day to $21,170.
Although the stock continues to move steadily with the lower price rising, the market opinion is split in half as to whether the market is bottoming out or not.
International analyst DonAlt is one of the bulls.
— DonAlt (@CryptoDonAlt) January 16, 2023
Focus on the weekly closing price moving above the main line of $19,300. We will maintain “Buy” unless the price falls below the $18,000 support line (lower support line) or shows significant weakness after rising to $32,000.
On the other hand, he pointed out that the daily RSI (relative strength index), which indicates overheating, is already at an overbought level. adjustment is needed.
Bearish The Wolf Of All Streets has suggested in his weekly analysis of BTC that there is a “bull trap” where the price breaks out to the top followed by a sharp pullback.
You could not dream up a more bullish weekly candle. pic.twitter.com/fv66u76ujV
—The Wolf Of All Streets (@scottmelker) January 15, 2023
In any case, it is undeniable that it depends on the announcement of the US Federal Open Market Committee (FOMC) scheduled for 4:00 on February 2nd Japan time. Markets are pricing in a 0.25% reduction in rate hikes.
The Fear and Greed Index, which indicates market sentiment, broke out of the “Fear” zone for the first time in nine months since April last year, reaching the 50 level, which indicates “Neutral.”
The index had the longest stay of “extreme fear” in history since the cryptocurrency market crashed following the Terra (LUNA) shock in May 2022.
Polygon Delhi Fork, a hard fork of Polygon (MATIC), which is also listed on domestic exchanges, has been completed.
In addition to reducing the transaction fee (gas fee) by halving the base fee volatility (12.5% → 6.25%), we aim to improve the finality of transactions by dealing with the risk of chain reorganization.
Relation:Polygon (MATIC) hard fork expected on January 17th
Binance also announced on the 17th that it had completed the automatic burn of its Build and Build (BNB) coin.
The amount of incineration amounted to 2,064,494 BNB (approximately 80 billion yen), part of which was carried out based on the “Pioneer Burn Program” introduced in September 2020.
The Pioneer Burn Program includes tokens in the next burning amount if BNB is sent to an empty smart contract address by mistake, and compensates users who meet the conditions for the lost BNB.
BNB is a stock issued according to the ERC-20 standard of Ethereum. It is the native token of the BNB chain “BSC (formerly Binance Smart Chain)” and a representative exchange token.
GM radio archive release
— CoinPost Global (@CoinPost_Global) December 22, 2022
Special guests this time are Yat Siu, chairman of Animoka Brands, a leading Web3 (decentralized web) company, and Benjamine Charbit of Darewise Entertainment. He talks about the current challenges of Web3 games and NFTs, Darewise’s first title “Life Beyond”, and the outlook for the industry.
Relation: To hold the 2nd “GM Radio”, guests are the chairman of Web3 major Animoka Brands
CoinPost Hosts One of Asia’s Largest International Conferences
Date: July 25th and 26th, 2023
Venue: Tokyo International Forum
Press release https://t.co/vvgzhfPOVb
[Specified]Accepting pre-whitelist registration that can be completed in 2 seconds https://t.co/bigJoFNBvh pic.twitter.com/5FfHvqKppB
— CoinPost-virtual currency information site-[app delivery](@coin_post) December 26, 2022
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