Category: Market News

[ad_1] . . . Global leader in semiconductor technology Samsung Electronics recently revealed that it has obtained US government funds totaling $6.4 billion to expand its chip manufacturing facilities in Texas. The United States’ ability to produce chips domestically will be greatly enhanced by this huge investment, especially in sectors like aerospace, defence, and automotive. The 2022 Chips and Science Act, a piece of legislation signed into law by President Joe Biden, provides the financing for this expansion. The act’s goal is to improve and revive the country’s output of…

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[ad_1] Most investors who bought memecoins Dogecoin (DOGE), Shiba Inu (SHIB) and Pepe (PEPE) continue to stay in profit despite a correction sweeping the crypto market, according to analytics firm IntoTheBlock. Following Bitcoin’s (BTC) correction from $72,750 to a low of $61,079 last week, data from IntoTheBlock shows that 85% of DOGE holders are still in profit.  Meanwhile, more than half, or 62% of SHIB owners are seeing gains. Only 36% have negative returns and 2% have neither gains nor losses. Of the PEPE holders, 69% are profitable, 28% are…

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[ad_1] Ex-Goldman Sachs executive Raoul Pal says two crypto ecosystems are in the race to be the next big layer-ones in the current digital asset market cycle. In a new interview on Bankless, Pal says he’s been looking for what’s going to be the “Solana (SOL)” of the next bull market, or which crypto asset is going to see the same parabolic run-up and adoption wave that Solana has been seeing in the last several years. Pal says he’s looking at two main ecosystems: Blockchains using the Move programming language,…

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[ad_1] A popular analyst says that last week’s marketwide correction has put altcoins in a position to see muted price action in the next few months. Pseudonymous analyst The Flow Horse tells his 211,300 followers on the social media platform X that he expects altcoins to trade sideways until July. According to the trader, the lack of retail inflows will keep altcoins range-bound for months with some printing fresh local lows before the next big move up. “Time is a pretty important component of corrections in my opinion, especially in…

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[ad_1] The largest federal bank in Germany, Landesbank Baden-Wurttemberg, is planning to offer cryptocurrency custody services in the second half of 2024, according to a new report. According to Bloomberg, Landesbank Baden-Württemberg is announcing a new partnership with Bitpanda to offer crypto custody services to institutional clients in the second half of 2024. According to the report, the bank aims to meet increasing corporate demand for digital asset custody. Says Jürgen Harengel, managing director of corporate banking at Landesbank Baden-Württemberg, “The demand from our corporate customers for digital assets is increasing.”…

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[ad_1] Whales on the Solana (SOL) blockchain are gobbling up memecoin discounts following a marketwide correction over the weekend, according to on-chain data. Blockchain tracking firm Lookonchain spotted two Solana whales that went in to accumulate sloth-themed Slerf (SLERF), Pepe the Frog-themed Book of Meme (BOME) and President Joe Biden-inspired Jeo Boden (BODEN) from crypto exchanges Kucoin and Binance. “What did whales buy on Solana after the market dropped? We noticed whales bought SLERF, BOME and BODEN! 4eocFb withdrew 31,916 SOL ($4.56 million) from Kucoin and spent 2,055 SOL ($294,000)…

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