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Yash Bansal
May 28, 2024

Good morning, Coin Discoverers!

CRYPTO

BTC: $68,684.30 (+0.31%) YTD (+55.49%)
ETH: $3,924.16 (+2.62%) YTD (+66.79%)
BNB: $601.29 (+0.22%) YTD (+91.69%)

*Crypto numbers as of 5:00 am EST on May 28th

Is Russia Going Crypto? Central Bank Flags Activity Spike

According to Russian media, the Central Bank's financial stability report highlights trends in citizens' crypto activity from late 2023 to early 2024.

Russians flocked to crypto, with over 104 million exchange visits and a 15% surge in unique users on major platforms in just a quarter.

Level Up Ethereum! Pectra Upgrade Arrives Early Next Year

Ethereum's devs are taking a strategic pause on the Pectra upgrade. To ensure a flawless launch, they're pushing it beyond Devcon (Bangkok, November 2024) – meaning an even more powerful Ethereum awaits us in Q1 2025.

Dev team prioritizes polish for a peak user experience! Strategic move allows for more measured development and inclusion of exciting new features.

STOCKS

DOW: 39,069.59 (+0.011%)
S&P: 5,304.80 (+0.70%)
NASDAQ: 16,920.80 (+1.10%)

*Stock numbers as of market close on May 28th

Stunning Election Twist Turns All Eyes on UK Economy

A snap summer election has cast the UK economy into the spotlight, raising public and investor interest.

Anna Macdonald, independent research analyst provides an in-depth analysis of how the sudden election could impact economic stability and growth.

Rallying Revs Up: Lancia Announces Ypsilon's Return

Lancia charges back into rally racing with the Ypsilon, announces. CEO Luca Napolitano's recent announcement has ignited excitement, suggesting a return to competition isn't just a nostalgic dream, but a real possibility.

This buzz is further amplified by the "Race for Glory: Audi vs. Lancia" film, released strategically to coincide with the news. It's clear - Lancia's rallying spirit is back in the spotlight, and a return to the race track might just be on the horizon.

REAL ESTATE

15-year: 6.70%
30-year: 7.16%

*Mortage rates via Mortgage News Daily

Contrary to expectations, mortgage rates experienced a slight increase this week

A quiet week on the data front offered little surprise. Fed officials reinforced the message: multiple rate cuts in 2024 are off the table, with only one cut now anticipated.

December's Fed meeting sets the orange line's context. An earlier decline (March/April) signaled lower December rates. Currently at 5.375%, a rate near 5.125% suggests just one 0.25% cut.

TECH

Musk's SpaceX is in talks to sell existing shares, potentially valuing the company at a staggering $200 billion, according to Bloomberg's sources. This move could provide liquidity for investors and employees.

At $200 billion, this offer would eclipse SpaceX's prior $180 billion valuation, with shares potentially priced between $108 and $110

QUICK RECAP

#1. US stocks gain Friday but Dow dips, snapping winning streak.

#2. Oil prices rise in anticipation of inflation data, reaching $82.88 per barrel for Brent crude.

#3. Ross Stores rises after Q1 results beat

#4. Amazon stock climbs on report of potential multi-billion euro cloud investment in Italy.

#5. Fed speech, Q4 earnings, foreign investor moves and global news set to guide markets this week.