Equation founder bets on U.S. stock market recovery on Monday, goes long on SOL and XPL
BlockBeats news, on October 12, Formula News founder Vida posted on his personal channel this morning, saying, "Once again, I went long on $4 million worth of SOL at an average price of $175.8, and $500,000 worth of XPL at an average price of $0.395. This is equivalent to 1/10 of my ammunition. There is no certainty in this position at all, I just want to gamble a bit. My bet is: the market will quickly recover after the US stock market opens on Monday, just like every time there has been negative news over the weekend before.
The crypto market has now dropped by an average of 30%, pricing in an abnormal drop of 5% in the S&P 500 at Monday's open. But if the S&P 500 doesn't fall as much as expected on Monday, then sentiment will quickly recover."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Boeing (BA.US) Max 10 certification expected to be announced next week, adding new leverage for debt relief
The Boeing 737 Max 10 has completed key certification meetings and could be approved as early as next week. As Boeing's largest variant to rival Airbus, this model will help airlines replace aging 757s and is expected to become a cash cow for Boeing to reduce its debt.
Foreign holdings of US Treasuries rebounded in August, with UK holdings surpassing $1 trillion for the first time
In August, foreign holdings of U.S. Treasury bonds increased by over 83 billions USD, with Canada and Belgium leading the increase; meanwhile, holdings by Japan and China continued to decline to multi-year lows, and for the first time, the UK's holdings surpassed 1 trillion USD.
Strive's bitcoin holdings increased to 35,595, and TD Cowen raised its target price to $56.
New York Federal Reserve Survey: Service Sector Price Increases Hit Fastest Pace Since 2022, Business Activity Index Drops to Lowest Since March
A survey released by the New York Fed on Friday shows that in October, sales prices for service sector firms increased at the fastest pace since 2022, with input costs remaining robust and supply conditions continuing to deteriorate. Businesses’ pessimism about the commercial outlook has significantly intensified, with the overall business activity index falling by 12 points from the previous month to minus 20.7, marking the weakest reading since March.
Crypto prices
More
