29 May

Good morning, Coin Discoverers!

CRYPTO

• BTC: $68,695.10 (+0.55%) YTD (+55.52%)

• ETH: $3,851 (+0.29%) YTD (+63.68%)

• BNB: $602.21 (+0.23%) YTD (+91.85%)

*Crypto numbers as of 5:00 am EST on May 29th

Crypto Never Sleeps: Holidays Spark Unique Trading Trends

Crypto trading never takes a holiday; unlike traditional markets, it operates nonstop, creating unique trends as traders worldwide adjust their strategies during festive periods.

Weekend and off-day trading volumes are typically lower, often leading to greater volatility spikes.

Crypto Goes Global: Brazilian Firms Ditch Traditional Payments for China

Brazilian businesses are ditching traditional methods! Ripio CEO confirms companies are using cryptocurrency to pay Chinese suppliers. This reveals a growing trend of Latin American firms embracing crypto for international trade.

Cryptocurrency's uses in Latam expand! Beyond payments to China, Argentines use it to hedge against inflation, while US-Mexico remittance finds a new channel.

Heavy Campaign Spending Could Pave the Way for Stablecoin Regulation in 2024

Campaign cash greasing the wheels? Crypto-friendly spending might be speeding up regulations, with stablecoins next in line, says TD Cowen

According to TD Cowen's note on Tuesday, pro-crypto super PAC Fairshake and its affiliates have raised over $100 million for the 2024 election, as reported by consumer advocacy group Public Citizen.

Breaking: Pepe Wallets Double as Ethereum Meme Coin Hits All-Time High!

The frog-themed meme coin hit multiple all-time highs this month, soaring even further following the approval of spot Ethereum ETFs.

PEPE daily active addresses surged 230%, eclipsing other meme coins like Floki (179% increase). This dwarfs Dogecoin's 10% growth to 53,000 active addresses.

STOCKS

• DOW: 38,852.86 (-0.55%)

• S&P: 5,306.40 (+0.025%)

• NASDAQ: 17,019.88 (+0.59%) 

*Stock numbers as of market close on May 29th

Berkshire rebounds! Lower price + Apple surge lift book value

Berkshire Hathaway (BRK.B) has become more attractive recently due to a dip in share price and a simultaneous increase in book value

IMF bullish on China: raised 2024-25 growth forecasts on strong Q1

The International Monetary Fund (IMF) boosted China's growth forecast for 2024 to 5%, citing a strong first quarter and recent policy measures. This is an upgrade from their previous prediction of 4.6% growth, but the IMF anticipates a slowdown in future years.

IMF hikes China's GDP growth targets for 2024 and 2025 by 0.4 points each

REAL ESTATE

• 15-year: 6.75%

• 30-year: 7.28%

*Mortage rates via Mortgage News Daily

Unlock ownership. Co-buy what you love

In today's expensive real estate market, many young people are opting to buy a share of a property. They're teaming up with friends, family, or even colleagues to co-own a house.

While the idea of group homeownership isn't new (similar to timeshares), new concerns are emerging.

TECH

Opera Levels Up Browser with Google AI for Smarter Assistant and Image Creation

Opera's browser (5th most popular) now lets you create images with your voice! Talk to Aria, its AI helper, and use Google's latest tech to bring your ideas to life.

Opera and Google team up again (after 20 years!) to supercharge Opera's browser AI with cutting-edge image generation and smarter assistance.

QUICK RECAP 

#1. Nvidia and other tech stocks propel Nasdaq to a new record high, The Dow dipped, while the S&P 500 edged up.

#2. Celsius stock (CELH) sank 13% - its biggest drop in years - after Wall Street analysts raised concerns.

#3. Moderna shares tumbled over 8% after delays in key developments: cancer treatment, new respiratory vaccine, and potential avian flu shot.

#4. US gas futures rise: June up 2.8% to $2.59, July gains 1.9% as hot summer fuels prices, but storage levels could cap gains

#5. Cava eyes lower Q1 traffic (est.) but stronger ticket sales (up 2.5-3%) from price hikes and premium bowl choices.