WEEK OF APRIL 8, 2024
Welcome to the Traderverse Weekly Newsletter!
Traderverse Update
Welcome to our newsletter, where we keep you updated on the latest developments and features! This week, we’re taking a break from our usual section spotlight to share some exciting news from our recent adventures.
Last week, the Traderverse team had the incredible opportunity to sponsor QuantVision 2024 at Fordham University in New York City. It was an exhilarating experience for us to engage with professionals, students, and other businesses, discussing the innovative features and potential of Traderverse.
We had the chance to showcase Traderverse and its capabilities to a diverse audience, exchanging ideas and insights about the future of trading and financial technology. It was truly inspiring to connect with like-minded individuals who share our passion for revolutionizing the trading experience.
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Important Prices
What’s Moving The Markets?
AI Continues To Replace Jobs
Adecco Group’s recent survey reveals that within the next five years, 41% of senior executives anticipate reduced staffing as a consequence of increased adoption of artificial intelligence, signaling significant workplace transformations.
Google Destroys Data To Settle Lawsuit
Google settled a lawsuit by agreeing to destroy billions of data records, accused of secretly tracking the internet activity of users who believed they were browsing privately, with terms awaiting approval by a federal court, valuing the settlement between $5 billion and $7.8 billion, while users retain the option to individually sue for damages.
Google’s Potential $35B Acquisition
Google Parent company, Alphabet, is reportedly considering making a bid for HubSpot, an online marketing software company valued at $35 billion, potentially representing a significant move amidst increased regulatory scrutiny in the tech sector.
Big Firms Breaking Into Bitcoin
Goldman Sachs, along with other major financial institutions such as UBS Securities, Citigroup Global Markets, and Citadel Securities, have been named as authorized participants in BlackRock’s Spot Bitcoin ETF, reflecting a trend of traditional finance embracing the digital asset market.
Ripple To Launch Stablecoin
Ripple plans to launch a US dollar-pegged stablecoin on the XRP ledger and Ethereum blockchains, backed by US dollar deposits and cash equivalents, aiming for long-term market dominance.
Coinbase’s Bitcoin Lightning Network
Coinbase and Lightspark are partnering to integrate the Bitcoin Lightning Network, aiming to offer Coinbase’s extensive user base access to this innovative technology, marking a significant milestone for the industry.
S&P Outlook
Bear Case: Bears aim to maintain their stronghold by keeping the price beneath the 5275.50 pivot, a key level that served as support last week. Should the price venture above this threshold, bears face the challenge of a significant supply zone starting at 5282.50. This area is critical, as it may prompt exits from trapped long positions, offering bears an opportunity to reinforce their defense.
Bull Case: On the bullish side, the market is witnessing a rebound from a Daily Demand zone beginning at 5195.50, which has historically provided support. For bulls to capitalize on this momentum, surpassing and securing a position above 5282.50 is essential for sustaining an upward trajectory.
EARNINGS RELEASE CALENDAR
FOR WEEK OF APRIL 8th
Economic Data Calendar
