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Finance

Dogecoin Bets rises to $1.3B as Trump popularity looks Dodge Rocket 15%

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Stablecoin margined futures on DOGE have raised with DOGE denominated bets climbing 33% since Sunday.

Elon Musk conversation on creating a D.O.G. E for government efficiency combined with Trump promise to consist Musk in government efficiency commission if re elected have fueled  emotions among traders.

Interest in Dogecoin future is all time highs from April with 33% increase in open interest since Sunday standing a 8 billion tokens.

Traders are this price movement to Trump famous and  potential establishment of Department of Government Efficiency.

DOGE prices are over than 30% since CoinDesk first reported on D.O.G.E trade gaining interest among traders.

Musk has gotten closer to Trump in past few months with increased donations and endorsements.

He has talked about creating a Department of Government Efficiency named as D.O.G.E in quest to make government spending more efficient.

Future interest in dogecoin DOGE is rising and nearing record levels from April thanks to renewed trading interest in token on chance of becoming part of Republican Donald Trump administration.

DOGE denominated futures have risen 33% since Sunday to 8 billion token as of European morning hours Tuesday.

12% away from lifetime record of 9 billion DOGE in open interest.

Higher open interest in token can lead to volatility as contracts near expiration.

Traders rush to close roll over or adjust positions which can lead to price movements.

DOGE prices are up 15% in past 24 hours.

CoinGecko shows after Elon Musk at Trump rally and later X post of himself with DOGE avatar.

Traders are the price spike as play on Trump popularity as reported.

DOGE denominated futures have spike 33% since Sunday to 8 billion tokens as of European morning hours Tuesday.

12% away from lifetime record of 9 billion DOGE in open interest.

OI refers to number of outstanding derivative contracts such as futures or options have not been settled.

elon musk tweet

High open interest show there is interest in asset. When open interest increases along with spike prices it suggest new money is coming into market indicating trend such as Tuesday.

In stablecoin shows the DOGE bets have raised from $850 million to $1.3 billion CoinGlass data shows.

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dWallet Network increases Monad with Multi Chain DeFi Support

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Blockchain service provider dWallet Network has declared its step to help Layer 1 blockchain Monad enabling multi chain transfers

The collaboration will permit Monad ecosystem developers to use dWallet non collusive and decentralized building blocks to create multi chain decentralized finance DeFi applications.

Monad is a layer 1 blockchain aiming at the rapid Ethereum Virtual Machine compatible network with promise of handling up to 10,000 transactions per second tps.

BNB chains registered maximum output is 1731 tps.

By tapping dWallet Network infrastructure of dWallets, Monald DeFi ecosystem can connect to different blockchains and access more liquidity.

Monad Labs CEO lauds dWallet’s support in advancing DeFi development.

This support from dWallet Network is testament to dedication to providing possible platform for EVM developers expressed Keone Hon co founder and CEO Monad Labs

” Our unmatched speed and performance combined with dWallets innovative multi chain capabilities not only solidify Monad position as leading blockchain for DeFi development.

By aligning with Monad we are bringing our multi chain technology to forefront of fastest and efficient EVM ecosystem. Omer Sadika said .

This integration is major step forward in our mission to facilitate a seamlessly interconnected DeFi landscape and we are excited to see revolutionary apps that will emerge from this”

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Samsung SDI Q4 net profit downs 21.6%

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Samsung SDI added Tuesday its 4th quarter earning down 21.6% on year due to decrease demand for batteries used in energy storage system and IT products.

Net profit came to 493.3 billion won in the October December period 2023 compared with 629.2 billion won from a year earlier, the company expressed in a regulatory filing.

The company posted 22.7 trillion won in sales, up 12.8% from a year ago. Company sales fell 6.7% on year to 5.56 trillion won, while operating profit slumped 36.5 percent on year to 311.8 billion won.

Sales down 6.7$ on year to 5.56 trillion won, operating profit slumped 36.5 % on year to 311.8 billion won. The average estimate of net profit by analysis stood at 383.3 billion won.

Shares in Samsung SDI fell 1.19% to close at 347,500 won on the Seoul stock market Tuesday.

For all of 2023, the company posted 22.7 trillion won in sales up 12.8% from a year ago. its operating income for the down 9.7% on year to 1.63 trillion won and net profit edged up 1.3 percent tp 2.06 trillion won.

Demand for automotive batteries remained strong in the 4th quarter of previous year, however sales of ESS products and small batteries faced challenges.

The P6 batteries will mass produced starting january for consumers in Europe and North America, with sales expected to contribute to the company earning from 2nd quarter.

In the electronic material business its sales spike 9.3% on year to 566.5 billion won and operating profit down 35% on year to 85.7 billion won.

Despite worries about slowing demand for electric vehicles, Samsung SDI told it will maintain factory rates in 2024 and proceed with the scheduled expansion of production facilities.

Samsung SD added it plans to initiate mass production of its premium battery product, P6 in the 1st quarter to sales and profits and secure projects for next generation platforms.

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General Motors stock rises after earnings crush estimates

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GM’s quarterly revenue is $4 billion more than the consensus. General Motors Co.’s stock spike 7.7% early Tuesday after the auto giant blew past estimates for the the 4th quarter and offered upbeat guidance.

The company GM 9.27% posted net income of $2.102 billion or $1.59 a share for the quarter up from $1.999 billion or $1.39 a share, in the year earlier period.

Revenue fell to $42.980 billion from $43.108 billion.

Chief Executive Mary Barra wrote ” Consensus is growing that the US economy the job market and auto sales will continue to be resilient and at GM we expect healthy industry sales of about 16 million units with mix of Evs continuing to grow.”

In addition to internal combustion engine model like 2024 Chevrolet Traverse and 2025 Chevrolet Equinox, the company goals to grow its electric vehicle business.

The company plans to relaunch its self driving cruise business. Barra added.

The company is now expecting 2024 EPS of $8.50 to $9.50. It expects capex of $10.5 billion to $11.5 billion, including investments in its battery cell manufacturing joint ventures.

The stock has fallen 2.5% in the previous one year while the S&P 500 SPX has gained 22.7%.

In addition to internal combustion engine model like the 2024 Chevrolet Traverse and 2025 Chevrolet Equinox, the company mission to rapid its electric vehicle business. The company also plan to relaunch its self driving Cruisee Business. Barra added.

Californian regulators revoked Cruise license to operate in San Francisco after accusing the company of not being forthcoming enough about an Oct.3 incident in which Cruise driveries car struck a pedestrian who had already hit by another car.

The Cruise vehicle pulled to the side of the road, dragging the victim beneath it for about 20 feet

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