Connect with us

Cryptocurrency

Amazon (AMZN) Stock Slightly Down as Investors Remain Unperturbed Ahead of Prime Day

Published

on


There are three key areas that inform the likelihood of a continued upsurge in Amazon (AMZN) shares.

The shares of American multinational technology company which focuses on e-commerce, cloud computing, digital streaming, and artificial intelligence company, Amazon.com Inc (NASDAQ: AMZN) was slightly down in the pre-market as volatility pushed the stock to the red zone. This current trend has failed to take into account the upcoming Amazon Prime Day, a period new offerings are expected to be unveiled.

At the time of writing, AMZN stock is 0.71% down, ar $3,462.20.

For the better part of this year, Amazon shares have not impressed longer-term investors as bear actions has largely kept the stock bound on a close-range for some time. More impressive market activity was triggered early in the day with AMZN inking close to 6 points to beat its Friday close of $3.486,90. The volatility has ushered in a correction, however, the impressions for a good uptick are currently being made evident.

Amazon is a tech giant with businesses cutting across several areas which consumers rely on. The company currently ranks as one of the firms that have the most expensive share, and the growing clamor for a stock split, a call, currently stalled with the earlier announcement of a change in the Chief Executive Position. While the stock split is not necessarily a drawback for the growth of the firm, its implementation is likely to fuel new interests.

Amazon Prime Day and Two Reasons Why Investors May Be Bullish on AMZN Stock

There are three key areas that inform the likelihood of a continued upsurge in Amazon shares, and these are outlined below.

Amazon Prime subscribers are one of the major livewires of the e-commerce giant, with revenues from this service a key aspect of Amazon’s business. There is a scheduled annual “Prime Day”, which is scheduled for June 21-22. This event represents one of the major shopping events of the year and is projected to bring in massive quarterly sales for the company.

With the stock market almost always influenced by growth, irrespective of the quarter its coming from, the stock price may see new bullish moves soon.

Amazon is gaining a good amount of traction when it comes to content streaming per its video services. While Netflix Inc (NASDAQ: NFLX) is arguably one of the biggest players in the streaming world, Amazon Video Prime is set to get new blockbusters this July, a development that can impact stock growth indirectly.

One of the highly anticipated moves, “The Tomorrow War” will begin showing on 2nd July and is billed to feature the star Chris Pratt who will be in the role of a soldier. Other movies in the pipeline include “Making the Cut” and “Luxe Listing Sydney,” all geared to help Amazon keep track of the competition and stay relevant.

Amazon was amongst the biggest beneficiaries during the COVID-19 pandemic and has continued to dominate the e-commerce ecosystem. While the trends in its relevance in this space are not all reflective in its share price, the company still maintains the lead ahead of the competition and serves as the ultimate cushion for its other products and services.

next Business News, Market News, News, Stocks, Wall Street

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.



Source link

Cryptocurrency

Blockchain Startups Continue to Thrive, Raise $4.4B in Q2 Despite Crypto Slump

Published

on

By


The recent trend noticed in terms of investment in blockchain technology has affirmed the fact that despite the deterioration registered in the crypto market, it is still deemed as a vital and promising area for investors to float their money in.

Investors have been taking a keen interest in funding blockchain startups helping them raise $4.4 billion despite noticing a sharp decline in generalized crypto prices.

Blockchain technology is the foundational technology for cryptocurrency transactions to operate on. The prices of cryptocurrency however have been susceptible to a gradual decline in recent times, but the amount of funds invested in the technology has highlighted the cryptocurrency trend still quite popular with the masses despite experiencing a slump in pricing and revenue.

Along with blockchain, funding for fintech companies has also detected a surge of investment with approximately $30.8 billion being pooled in the domain.

Blockchain Startups to Gain a Steady Rise 

There is no doubt that the crypto market has been sensitive to market speculation and has gone through a slump that has affected its overall pricing and value. This however did not discourage the investors who have poured heavy investments in the blockchain technology and helped the crypto market sustain harsh market fluctuations and decreased market valuation.

According to the data analysis from CB Insights, there has been a significant increase of 50% worth of investment flow in blockchain technology despite the currency being vulnerable to market oscillations and shifts.

Blockchain is a vital technology that primarily acts as a ledger for all verified cryptocurrency transactions and stores them in a thread constituting information related to the concerned transaction in a form of a secured block. The network of transfers comprises extensive computing channels to conduct currency transmission in a protected manner.

One of the largest financial rounds for blockchain investment valued at $440 billion was made to Circle, which is a payment and digital currency firm specializing in exchanges and transfers. The platform had recently expressed its plan to go public with a merger valued at $4.5 billion.

The recent trend noticed in terms of investment in blockchain technology has affirmed the fact that despite the deterioration registered in the crypto market, it is still deemed as a vital and promising area for investors to float their money in. Since April Bitcoin has recorded an all-time low from its average price of $65000. Ether is the second most popular cryptocurrency after bitcoin was also affected by the market alterations and had fallen by a critical 50%.

Chris Bendtsen, senior analyst at CB Insights has commented in a CNBC interview that with the current rate of investment flowing in the sector, it is very likely that the flow will easily break all previously set records of the cryptocurrency avenue and usher in a new era for cryptocurrency market value and prestige.

next Blockchain News, Business News, Cryptocurrency news, Editor’s Choice, Investors News

Juhi Mirza is an archaeology major who is obsessive about blockchain/Crypto technology and deems it to be the foundational philosophy of the future. Her dogged ability to research and crystallise technical facts/multiple perspectives into rivetting stories makes her an accessible finance writer. She tends to her archaeological pursuits and loves unearthing the past over the weekends.



Source link

Continue Reading

Cryptocurrency

Ripple-backed Tranglo Working on Something to Stir Up Fintech and Payment Industry

Published

on

By


Founded back in 2008, Tranglo has grown to an international payment processing company with 1,300 payout partners.

Tranglo, Asia’s leading cross-border payment hub, has announced it has a new exciting feature in the pipeline that will transform the payment and the fintech industry. Through a Twitter post, Tranglo noted that the upcoming release will feature XRP. Furthermore, Ripple acquired a 40 percent stake in the company earlier this year.

Tranglo and Its FinTech Activity

Founded back in 2008, Tranglo has grown to an international payment processing company with 1,300 payout partners. According to the company through its website, it has processed over 20 million transactions of about $4 billion.

As with Ripple, Tranglo is working towards making cross-border transactions faster, cheaper, and more secure. Notably, the firm has previously announced that it will power the cross-border payments of OmiPay across its global network.

According to the partnership details, OmiPay will gain access to Tranglo’s vast network of payment capabilities and vice versa.

“This partnership will fast-track OmiPay’s competitiveness and provide our Australian customers with access to new, innovative payment and e-wallet solutions. We also look forward to working with Tranglo on a simple and cost-effective way for international students in Southeast Asia to pay their Australian tuition fees,” OmiPay Head of Partnership William Guo said on Tranglo.

The announcement of an upcoming feature by Tranglo on Twitter has attracted notable XRP community attention. As of reporting time, the announcement tweet has over 3,300 likes and 1,130 retweets.

However, with very limited information to work with, only time can reveal what there is in store for the fintech and payment industry.

The company is already available in 130 countries as of 2019 according to the company. Currently, Ripple is on the verge of losing MoneyGram’s partnership due to the ongoing class-action lawsuit by the US SEC. Moreover, Stellar Foundation has shown interest in acquiring MoneyGram, thus making Ripple’s stake in Tranglo very critical for on-demand success.

In the bigger picture, Ripple is winning the cross-border payment outside the United States.

Tranglo prides itself in partnerships ranging from Alipay, AIS, WeChatPay, BFC Exchange, Brastel among others.

Ripple’s XRP token was trading around $0.597790 at the time of reporting and remains an important integral part of the company’s partnerships.

next Altcoin News, Blockchain News, Cryptocurrency news, FinTech News, News

A financial analyst who sees positive income in both directions of the market (bulls & bears). Bitcoin is my crypto safe haven, free from government conspiracies.
Mythology is my mystery!
“You cannot enslave a mind that knows itself. That values itself. That understands itself.”





Source link

Continue Reading

Cryptocurrency

Goldman Sachs Clearing and Settling Crypto ETPs for European Clients

Published

on

By


The decision by Goldman Sachs to deal with ETPs comes following a recent survey that involved over 150 family offices that the bank does business with.

Goldman Sachs is now settling and clearing crypto-linked Exchange Traded Products (ETPs) for its European hedge fund clients. It has been revealed by sources familiar with the matter.

The bank’s prime brokerage unit is initially only offering the service to an exclusive group of clients, reveal the sources. The bank’s possibility of rolling out the service to a broader client pool is still under review.

ETPs track the performance of investments like stocks, bonds and currencies. Crypto ETPs enable clients to invest in crypto without trading in the cryptocurrency associated with them. As the name suggests, they are traded on an exchange like the better known Exchange Traded Funds (ETFs). They have recently been gaining popularity.

ETC Group, the self-proclaimed “bridge between crypto and regulated markets” introduced the first Bitcoin ETP in the United Kingdom on the Aquis Exchange of London. Other exchanges, such as Switzerland’s SIX Exchange and Germany’s Deutsche Boerse have seen a rising number of crypto ETPs being listed.

The adoption of cryptocurrencies by major financial institutions does not stop there. The Bank of America earlier this week revealed that it would be clearing and settling crypto ETPs for hedge funds. This, after last week’s announcement that they would be trading Bitcoin features for select client’s and had started clearing cash-settled contracts. Also, BNY Mellon announced this week that it was joining State Street and four other banks in backing crypto trading platform Pure Digital.

Global Head of Foreign Exchange at the bank Jason Vitale had this to say:

“Digital assets are only going to become more embedded in global markets in the years ahead, and this collaboration accords with BNY Mellon’s wider strategy to develop a digital asset capability for clients across the entire trade life cycle.”

The decision by Goldman Sachs to deal with ETPs comes following a recent survey that involved over 150 family offices that the bank does business with. According to the survey, 15 percent revealed that they had already invested in crypto. 45 percent of respondents said they would consider investing in crypto as a hedge against “higher inflation, prolonged low rates, and other macroeconomic developments following a year of unprecedented global monetary and fiscal stimulus.”

Meana Flynn, Global Co-Head of Goldman Sachs Private Wealth Management said that a large number of family offices wanted to consult with the bank on ‘blockchain and digital ledger technology’. She revealed that some believed,  from a purely efficiency and productivity point of view, that blockchain technology would be as impactful as the internet has been.

next Altcoin News, Cryptocurrency news, Market News, News

Mercy Mutanya is a Tech enthusiast, Digital Marketer, Writer and IT Business Management Student.
She enjoys reading, writing, doing crosswords and binge-watching her favourite TV series.



Source link

Continue Reading

Trending