Nvidia has posted a record quarterly revenue, which has helped dampen fears of an AI bubble and lift crypto and tech stocks. Tech and crypto stocks rose in after-hours trading on Wednesday after chip maker Nvidia’s third-quarter earnings beat expectations on the top and bottom line, allaying fears of an AI bubble. Nvidia reported record revenue of $57 billion for its third quarter ended Oct. 26, up 62% from a year ago and beating Wall Street projections of $54.7 billion. The company reported a profit of $31.9 billion, a 65% increase from last year and surpassing analyst expectations. It also gave a higher-than-expected guidance of $65 billion in revenue for its fourth quarter, suggesting the appetite for artificial intelligence isn’t yet slowing down. Read more
BlackRock is now pursuing a new staked Ethereum ETF, offering more lucrative returns, approximately 15 months after launching its flagship ETH fund, ETHA. BlackRock has registered for a new staked Ethereum exchange-traded fund in Delaware, signalling that the $13.5 trillion asset manager is now ready to expand beyond its flagship Ethereum ETF product. A Delaware name registration is one of the first steps that a fund issuer needs to take to file for a new ETF. BlackRock, however, still needs to file other relevant documents to put the proposed product on track for regulatory approval. It would also complement BlackRock’s iShares Ethereum Trust ETF (ETHA), which has attracted $13.1 billion worth of inflows since launching in July 2024. BlackRock did not add staking to its spot Ethereum product, stating on its website: Read more
Bitcoin derivatives remain stable despite BTC revisiting the $89,000 level. Is the futures market’s resilience an early hint that traders expect a price reversal? Key takeaway: BTC derivatives metrics show traders taking precautions, but the data suggests traders are not reaching distressed levels yet. Bitcoin ETF outflows and tech sector weakness keep sentiment subdued, reducing confidence that Bitcoin can hold above $89,000. Read more
XRP ledger activity has slumped over the past four months, increasing the downside prospects for XRP price to drop to $1.55. Key takeaways: XRP validates a bearish descending triangle, risking a 25% drop to $1.55. A bearish divergence from the weekly RSI points to increasing downward momentum. Read more
Coinbase is rolling out its DEX trading platform to Brazil about six weeks after it launched in the US, offering Brazilians over 10,000 tokens to trade without leaving Coinbase’s app. Coinbase is expanding its decentralized exchange trading platform, called “DeFi Mullet,” to Brazil, providing them with access to tens of thousands of tokens without needing to leave the Coinbase app. Powered by Coinbase’s Ethereum layer 2 Base, DeFi Mullet first launched in the US on Oct. 8 and is designed to abstract away the complexities of using decentralized finance protocols. “Using our DEX integration, users can trade on popular DEXs, like Aerodrome and Uniswap, without leaving the familiar ease of the Coinbase interface,” Coinbase said on Wednesday. Read more