S&P 500
7,436.00
+0.19%
Dow Jones
49,988.40
-0.02%
Nasdaq 100
29,332.00
+0.37%
Russell 2000
2,814.59
+0.01%
FTSE 100
10,414.80
-0.34%
Nikkei 225
61,996.70
+1.21%

Investing

Chop Chop Chop

Photo of Ben Briody
By Ben Briody Published

Quick Read

  • BTC continues its rangebound trading

  • Solana looking weak on high time frames

  • It sounds nuts, but SoFi is giving new active invest users up to $1,000 in stock for a limited time, and all it takes is a $50 deposit to get started. See for yourself (Sponsor)
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.
Chop Chop Chop

© alfernec / Shutterstock.com

Even with the US government reopening, markets have gone nowhere this week. Bitcoin is quite rangebound and has failed to get back over the $105k level since Sunday. Yesterday, BTC ETF’s saw outflows of $278m, putting more pressure on BTC. Volume remains subdued, with market participants waiting to see a clear sign in direction. Funding rates on perpetual futures hover around the 10% annualized range for BTC at the moment, with open interest steadily declining day over day. There is about $67b in OI at this time, and we will see if this figure starts to build once more direction comes to the market. With the White House claiming October payrolls won’t be released, the Fed will have November’s report to work with before the FOMC in December. Polymarket currently has the Fed cutting by 25 bps priced at 56% probability, with 41% of participants saying there will be no change at the December meeting.

 

Solana is not having a great November, and the HTF views paint an alarming picture for the high speed blockchain. With no cap on total issuance and several new projects competing for the high speed crown, Solana’s competitive moat is in danger. Solana was home to memecoins, and with the advent of pump.fun and the destruction caused by coins sucking out liquidity in January and February of this year, Solana’s reputation is less than ideal. With the slick UI/UX of the blockchain, Solana believers hope that momentum will come back to their project. Solana remains rangebound this week like most other coins, but has been in quite the downward trend since mid summer.

DISCLOSURE:
INVESTMENTS ARE NOT FDIC INSURED • ARE NOT BANK GUARANTEED • MAY LOSE VALUE Brokerage and Active investing products offered through SoFi Securities LLC, member FINRA(www.finra.org)/SIPC(www.sipc.org). Advisory services are offered by SoFi Wealth LLC, an SEC-registered investment adviser. Information about SoFi Wealth’s advisory operations, services, and fees is set forth in SoFi Wealth’s current Form ADV Part 2 (Brochure), a copy of which is available upon request and at www.adviserinfo.sec.gov. Probability of Member receiving $1,000 is a probability of 0.026%; If you don’t make a selection in 30 days, you’ll no longer qualify for the promo. Customer must fund their account with a minimum of $50.00 to qualify. Other fees, such as exchange fees, may apply. Please view our fee disclosure to view a full listing of fees. Investing in alternative investments and/or strategies may not be suitable for all investors and involves unique risks, including the risk of loss. An investor should consider their individual circumstances and any investment information, such as a prospectus, prior to investing. Interval Funds are illiquid instruments, the ability to trade on your timeline may be restricted. Brokerage and Active investing products offered through SoFi Securities LLC, Member FINRA(www.finra.org) /SIPC(www.sipc.org). There are limitations with fractional shares to consider before investing. During market hours fractional share orders are transmitted immediately in the order received. There may be system delays from receipt of your order until execution and market conditions may adversely impact execution prices. Outside of market hours orders are received on a not held basis and will be aggregated for each security then executed in the morning trade window of the next business day at market open. Share will be delivered at an average price received for executing the securities through a single batched order. Fractional shares may not be transferred to another firm. Fractional shares will be sold when a transfer or closure request is initiated. Please consider that selling securities is a taxable event. Options involve risks, including substantial risk of loss and the possibility an investor may lose the entire investment Before trading options please review the Characteristics and Risks of Standardized Options  Investing in an Initial Public Offering (IPO) involves substantial risk, including the risk of loss. Further, there are a variety of risk factors to consider when investing in an IPO, including but not limited to, unproven management, significant debt, and lack of operating history. For a comprehensive discussion of these risks please refer to SoFi Securities’ IPO Risk Disclosure Statement This should not be considered a recommendation to participate in IPOs and investors should carefully read the offering prospectus to determine whether an offering is consistent with their investment objectives, risk tolerance, and financial situation. New offerings generally have high demand and there are a limited number of shares available for distribution to participants. Many customers may not be allocated shares and share allocations may be significantly smaller than the shares requested in the customer’s initial offer (Indication of Interest). For more information on the allocation process please visit IPO Allocation.
Follow 24/7 Wall St. on Google
Photo of Ben Briody
About the Author Ben Briody →

I'm a finance and analytics professional with a strong foundation in capital markets and a proven track record of solving complex problems through data, engineering, and design. Wall Street-trained and bred and thoroughly battle tested in crypto, I bring a multidisciplinary approach that blends financial acumen, technical architecture, and strategic execution.

Continue Reading

ETH And SOL Struggling To Stay Above Water
Ben Briody |

ETH And SOL Struggling To Stay Above Water

  Ethereum has tested the key $2.8k level this afternoon, a bearish sign for the second leading cryptocurrency. After getting…

Solana (SOL) Is Up 4.5% in a Week: Can the Alpenglow Upgrade Push SOL Past $100?
Sam Daodu |

Solana (SOL) Is Up 4.5% in a Week: Can the Alpenglow Upgrade Push SOL Past $100?

Solana (CRYPTO: SOL) has gained 4.5% in value over the past week as investors react to growing optimism around the…

Prediction: Solana’s About to Surge Right Past a $100 Billion Market Cap Toward a $250 Billion Market Cap Next Year
Chris MacDonald |

Prediction: Solana’s About to Surge Right Past a $100 Billion Market Cap Toward a $250 Billion Market Cap Next Year

In October, Solana’s (CRYPTO:SOL) price surged 11.2%, becoming the top-performing asset among the top 20 crypto projects. This trend has…

Solana (SOL) 2030 Price Prediction: Bull, Bear, and Base Forecasts
Sam Daodu |

Solana (SOL) 2030 Price Prediction: Bull, Bear, and Base Forecasts

Solana (SOL) has been one of the go-to crypto assets for investors due to its blazing-fast transaction speeds and innovative…

Is Solana-Based BONK This Year’s Dog Token?
247patrick |

Is Solana-Based BONK This Year’s Dog Token?

The culprit for the sudden Solana resurgence appears to be its take on dog coins, the BONK token.

Bitcoin (BTC) Up 200% But This Crypto Is Up 658%
Sam Daodu |

Bitcoin (BTC) Up 200% But This Crypto Is Up 658%

Bitcoin (BTC) has been known for a very long time as the first cryptocurrency. This status gives its price the…

Phantom Wallet Expands to Ethereum, Polygon as Solana Plummets 92% YTD
247patrick |

Phantom Wallet Expands to Ethereum, Polygon as Solana Plummets 92% YTD

As heavily VC-dependent Solana unwinds from its FTX/Alameda exposure, developers behind Solana’s Phantom wallet are looking for greener pastures.

If You Invested $1,000 in Solana When It Launched, Here’s How Much You’d Have Today
Chris MacDonald |

If You Invested $1,000 in Solana When It Launched, Here’s How Much You’d Have Today

Solana (CRYPTO:SOL) is among the top cryptocurrency projects I haven’t really had the chance to dive too deep into here…

High Time To Buy These 3 Cryptocurrencies Before It’s Too Late
Chris MacDonald |

High Time To Buy These 3 Cryptocurrencies Before It’s Too Late

The crypto market is buzzing with excitement, as the overall market capitalization of this sector continues to remain above the…

Top Gaining Stocks

Enphase Energy
ENPH • Vol: 11,276,116
United Airlines
UAL • Vol: 9,038,519
Super Micro Computer
SMCI • Vol: 38,283,266
Delta Air Lines
DAL • Vol: 11,954,617
Carnival
CCL • Vol: 51,734,642

Top Losing Stocks

Hasbro
HAS • Vol: 5,639,801
Coterra Energy
CTRA • Vol: 73,319,495
CME Group
CME • Vol: 2,860,171
Intuit
INTU • Vol: 6,992,567
Analog Devices
ADI • Vol: 10,352,898