Connect with us

Blockchain

GM Shares Soars 1% Following General Motors Conference Where It Unveils New Products

Continue reading at Coinspeaker

Republished by Plato

Published

on

General Motors investors are arguably betting big on the company’s stock as the firm is set to spinoff about five new products beginning from this year.

American multinational vehicle manufacturing company General Motors Company (NYSE: GM) has just recently wrapped up its CES Technology Conference where it unveiled an array of its futuristic products, and the firm’s shares are bouncing up in response. As reported by CNBC, the shares of General Motors opened Wednesday to a new all-time high at $50 per share and the stock closed the trading session with a 1.90% surge to $48.73 per share.

The CES Technology Conference which was conducted virtually had in attendance the company’s Chief Executive Officer (CEO), Mary Barra, and other executives unveiled the firm’s future plans, especially in relation to its proposed new products.

The CEO noted that the essence of the product presentations is to promote “confidence” in the firm’s business while it works to ensure it delivers on its zero-emission in transportation, congestion, and crashes, its Triple-Zero vision.

“We believe investors should prepare for a profound narrative change at GM put into action in 2021,” Morgan Stanley analyst Adam Jonas wrote in a note to investors Tuesday. “There is a lot more to come in terms of rolling out independent business units with its own management teams, technological domains, and go-to-market strategies.”

General Motors have a current market capitalization of $69.75 billion

Here Are the Products General Motors Unveiled that Have Impact on GM Shares

General Motors investors are arguably betting big on the company’s stock as the firm is set to spinoff about five new products beginning from this year. The high tech products include the next generation of Electric Vehicles (EVs), a new EV commercial vehicle and logistics business unit called BrightDrop, the concept flying taxis, Ultium batteries, and Autonomous Vehicles.

General Motors has slowed down plans to launch its EV series in 2020 against mounted expectations. The company unveiled its flagship Cadillac Celestiq built to include a new glass roof made of smart glass that allows each occupant to set their own transparency levels. Per the details of the CES Tech conference, General Motors also previewed other EVs cutting across its other auto series including one Chevrolet crossover, two Cadillacs, and two Buicks.

The BrightDrop business unit will feature the development and rollout of EV delivery vans and other accessories that will be instrumental in the commercial and delivery service sector.

“BrightDrop is a new business from GM that reimagines commercial delivery and logistics for an all-electric future,” Barra said. “BrightDrop provides an ecosystem of smart, connected products, including electric vehicles and software-enabled services, offering commercial delivery companies a platform for sustainable growth.”

General Motors is set to deliver as many as 500 EV600 delivery vans to FedEx Corporation (NYSE: FDX) later this year. The other products including the flying taxis, the high-powered next-generation Ultium batteries, and the Autonomous Driving vehicles are also products the firm has invested billions of dollars investing in. Each of these products will make General Motors more competitive in the EV and auto manufacturing space, a signal investors believe is ideal for more bountiful growth in the future.

Market News, News, Technology News, Transportation News, Wall Street

Benjamin Godfrey

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: http://feedproxy.google.com/~r/coinspeaker/~3/YvIXMoqBfoI/

Blockchain

Americans Can Now Buy Dogecoin from 1,800 Crypto ATMs Across the Country

Republished by Plato

Published

on

The meme coin that exploded in popularity recently, Dogecoin, has reached another milestone as the Bitcoin ATM provider CoinFlip decided to list the token on 1,800 cryptocurrency ATMs in the United States.

Dogecoin Coming to 1,800 ATMs

Started as a joke digital token inspired by Shiba Inu, Dogecoin took the world by storm in the past several months, which has prompted the popular Bitcoin ATM provider CoinFlip to take action.

The Chicago-headquartered company announced yesterday that it had added Dogecoin to its growing network of over 1,800 cryptocurrency ATMs located in 46 states.

The statement informed that this milestone “validates the legitimacy of the coin and further showcases CoinFlip’s dedication to meet consumer and industry needs as coin popularities shift.”

Daniel Polotsky, the CEO and Co-Founder of the ATM provider, said that the move would enable the general population a more straightforward way to receive Dogecoin exposure.

“Given its growing popularity and recent mass adoption, we are dedicated to making sure that Dogecoin is a part of our portfolio of coins and encourage further support of this cryptocurrency in the coming months.” – he added.

Dogecoin’s Support from Musk, Snoop Dogg, and More

CoinFlip reasoned that the Dogecoin listing comes after the token received massive endorsements from some of the world’s most popular names. Perhaps it all started with the CEO of Tesla and SpaceX – Elon Musk.

The executive previously updated his Twitter bio to display “former Dogecoin CEO,” posted dozens of DOGE-related tweets, and even bought some for his son.

Ultimately, every Musk interaction caused an immediate price reaction as DOGE surged to new highs. Consequently, the token even entered the top ten cryptocurrencies by market capitalization.

Furthermore, this skyrocketing craze caught the attention of other famous individuals, including the US rapper – Snoop Dogg.

As such, it may not be a surprise that CoinFlip said that its decision came only after Dogecoin received “support from celebrities such as Elon Musk, Snoop Dogg, Gene Simmons, and Kevin Jonas.”

SPECIAL OFFER (Sponsored)
Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO35 code to get 35% free bonus on any deposit up to 1 BTC.

You Might Also Like:


Source: https://cryptopotato.com/americans-can-now-buy-dogecoin-from-1800-crypto-atms-across-the-country/

Continue Reading

Blockchain

Bitcoin at $21,000? Is a buying opportunity coming soon?

Republished by Plato

Published

on

A series of on-chain metrics registered corrections when Bitcoin fell on the charts last week. In fact, BTC dropped down to as low as $43,000 briefly, with significant reshuffling seen after Futures Open Interest dipped by $4 billion too.

Other factors such as the Bitcoin funding rate experienced a reset as well, with Grayscale’s premium registering a low of -3.77%. AMBCrypto had previously reported about the positive reboot for the aSOPR, wherein it was identified that weak hands were getting washed out.

However, one particular metric carrying historical importance did not correct much. Interestingly, it could possibly alter the course of the rally going forward.

Bitcoin NUPL continues to avoid 0.5 reset

Source: Glassnode

According to Glassnode’s latest report, the strength of the current Bitcoin rally can be illustrated by BTC’s Net Unrealized Profit and Loss or NUPL. In the past, the NUPL has regularly retested the 0.5-mark during bull market corrections. While a 0.5 re-test was seen multiple times during both the 2013 and 2017 rallies, the same is yet to be identified in the current market.

Here, it’s worth noting that market dynamics have definitely altered over the years with respect to user profitability and hodling sentiment, with selling pressure not fueling massive outflows for Bitcoin.

Source: CryptoQuant

Further, data from CryptoQuant seemed to suggest that Bitcoin outflows from exchanges have continued to maintain their low levels over the week, with long-term hodlers unfazed by the 21% decline in cryptocurrency’s price.

The resilience exhibited by investors was coming to fruition at press time since Bitcoin had managed to establish a position above its immediate resistance of $47,400 over the last 24 hours.

While it is still a little early to predict the start of a new bullish leg for Bitcoin, according to Willy Woo, consolidation above $45,000 is a strong sign of stability.

If history repeats itself, does NUPL reset carry a damaging outcome?

While the NUPL has not registered a reset at 0.5 during this rally, historically, it has happened during every bull cycle. According to data, the realized price trading is currently $14,511, and if the NUPL drops down to 0.5, it would mean Bitcoin would possibly drop down to a floor price of $21,766.

That would mean a 55.76% drop from BTC’s press time position, a drop that will completely take away all of BTC’s gains since 15 December 2020.

While historical probabilities are worth pondering over, it is also important to consider the macro-difference between previous rallies and the current one, with Bitcoin at the receiving end of more adoption than ever before.

For instance, the average weekly investment into Grayscale’s Bitcoin Trust during Q4 of 2018 was $2 million. The average investment in GBTC for Q4 of 2020 was $217.1 million. Needless to say, the course of history for Bitcoin is indeed changing.


Sign Up For Our Newsletter


Source: https://ambcrypto.com/bitcoin-at-21000-is-a-buying-opportunity-coming-soon

Continue Reading

Blockchain

Litecoin is trading at a 1,800% premium via Grayscale’s LTC trust — But why?

Republished by Plato

Published

on

Shares in Grayscale Investments’ Grayscale Litecoin Trust, or LTCN, have been trading at a whopping 1,800% premium over the market rate of their underlying asset, Litecoin (LTC).

$319 per Litecoin? 

This difference is primarily due to retail investors’ inability to purchase shares directly from Grayscale Investments, whose funds are aimed exclusively at accredited investors.

LTC holdings per LTCN share (orange) and premium (blue). Source: Bybt.com

It costs $319 to buy a share in Grayscale Litecoin Trust. However, its LTC holdings per share are currently worth just $16.42. That means it’s almost 20 times more expensive to buy Litecoin via the trust than regular spot exchanges.

LTCN shares have recently traded for as high as $496 in November 2020 — 38% above Litecoin’s highest closing price in December 2017. Although the premium on Grascale’s Litecoin fund has been drastically cut over the past three months, LTCN shares remain an unattractive investment vehicle for retail traders.

The trust offers exposure to LTC without investors needing to handle or custody cryptocurrency. Nevertheless, its shares can only be sold by Grayscale Investments to institutional investors.

The unusual spread appears to have been driven by increasing retail demand for Litecoin ahead of the Mimblewimble privacy solution rollout, with Grayscale accumulating $258 million worth of LTC so far.

Arbitrage is not really an option

Grayscale’s Litecoin Trust aggressively ramped up accumulation in February, buying at a rate equal to 80% of new Litecoin being mined during the period.

However, anyone thinking about a potential arbitrage opportunity should note that all LTCN shares require a one-year holding period after they’re created. Besides, the trust requires all investors to be accredited, with a minimum of $25,000 to start.

The United States-based investment firm also offers trusts for other cryptocurrencies, including Bitcoin (BTC). The Grayscale Bitcoin Trust (GBTC) is the firm’s largest holding, with over $30 billion in assets under management.

In recent days, the Grayscale Bitcoin Trust traded at a discount to net asset value as the TSX Purpose Bitcoin ETF saw record inflows. A diminished appetite in the secondary markets creates a potential imbalance, as there is no redemption program for the Grayscale rust funds.

Had there been a way to convert those shares back to their LTC or BTC equivalent, a market maker would gladly buy the trust shares at a discount.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

Source: https://cointelegraph.com/news/litecoin-is-trading-at-a-1-800-premium-via-grayscale-s-ltc-trust-but-why

Continue Reading
Blockchain5 days ago

Gemini collaborates with The Giving Block and others, adds donations option

Blockchain5 days ago

NextGen Blockchain Platforms Self-Organize to Win Government Contracts

Blockchain22 hours ago

Why Mark Cuban is looking forward to Ethereum’s use cases

Blockchain5 days ago

What Coinbase Going Public Could Do For Crypto

Blockchain2 days ago

Google Finance adds dedicated ‘crypto’ tab featuring Bitcoin, Ether, Litecoin

Blockchain4 days ago

Crypto Investment Fund to Sell $750M in Bitcoin for Cardano and Polkadot

Blockchain4 days ago

This was avoidable – The lost Bitcoin fortunes

Blockchain3 days ago

Economist warns of dystopia if ‘Bitcoin Aristocrats’ become reality

Blockchain3 days ago

Inverse Finance seizes tokens, ships code: Launches stablecoin lending protocol

Blockchain3 days ago

XRP, STEEM, Enjin Price Analysis: 27 February

Blockchain2 days ago

Korean Government To Levy Taxes On Bitcoin Capital Gains Starting 2022

Blockchain2 days ago

How KuCoin Shares (KCS) Can Create a Stream of Passive Income

Blockchain2 days ago

NBA Top Shot leads NFT explosion with $230M in sales

Blockchain3 days ago

3 reasons why Reef Finance, Bridge Mutual and Morpheus Network are rallying

Blockchain2 days ago

Top 5 cryptocurrencies to watch this week: BTC, BNB, DOT, XEM, MIOTA

Blockchain4 days ago

‘Bitcoin could reach $1 million or $1, and may do both of those’

Blockchain3 days ago

Here are 6 DEX tokens that have seen exponential growth in 2021

Blockchain2 days ago

Litecoin, Monero, Dash Price Analysis: 28 February

Blockchain2 days ago

Polkadot, Cosmos, Algorand Price Analysis: 28 February

Blockchain3 days ago

6 Questions for Kain Warwick of Synthetix

Trending