Like every Friday,
We got you covered,
Sit back,
and Enjoy the important highlights from this week!
Here is what team Inspired Analyst has for you today:
Coinbase Partners with Google
Coinigy: One-Stop Solution
Consumer Price Index (CPI) Data: What does it mean?
Shopify’s CEO Is Playing Big On Crypto
Let’s get Started!
Coinbase Partners with Google
Another day, Another huge Web3 Partnership.
The biggest U.S. Crypto exchange joins forces with Google. Below are the highlights:
Chosen Customers of Google Cloud will be able to pay for services with cryptocurrency. Coinbase will receive a share of each transaction.
BigQuery will provide Web3 developers with access to Google Cloud's blockchain data (powered by Coinbase)
Google will investigate the use of Coinbase Prime for institutional crypto services such as secure custody and reporting.
Team IA’s thoughts: It's a win-win situation for both parties. Coinbase gains a new revenue stream independent to trading volumes. While Google also gains access to rapidly rising Web3 startups.
It is interesting to see Googles acceptance of cryptocurrency over the years.
Starting from banning Crypto advertisements to now accepting crypto payments.
COINIGY: One-Stop Solution
Web3 is booming,
It is getting difficult to keep up with all these partnerships and exchanges,
What if you could,
Manage and track your digital wallets across FTX, Binance, Coinbase, Kucoin, and more with ease on a single platform.
You can fam! Go check out Coingy,
Coinigy is the world's most advanced multi-exchange crypto trading platform.
Best part? It is Free. Go Sign up!
Consumer Price Index (CPI) Data is out
I will not sugarcoat anything, things do not look good.
Yesterday’s data revealed that,
The average price of goods and services is 8.2% more expensive than a year ago.
(Please start working on multiple streams of income)
Consider how much costs have risen on some basic necessities in the last year:
Eggs: +30%
Breakfast cereal: +16%
Milk: +15%
The markets reacted instantly to the news,
We witnessed a sharp drop in both Crypto and Stocks!
This would not have surprised those who read our technical analysis.
Team IA’s thoughts: Expect volatility for another month so hold on to your seats! The Feds will meet again on November 2nd. All eyes will be on Jerome Powell as many expect a larger hike (100bps) than what we've seen in recent months.
Shopify’s CEO Is Playing Big On Crypto
Shopify CEO Tobias Lutke, who is one of the top 20 richest Canadians in the world is playing big on Crypto:
Since August 1st, he has purchased $369k in Coinbase shares every week. He's basically buying $COIN stock every week in the same way that we buy biryani after Jummah prayers.
He is also big on NFTs, He displayed this NFT from Tyler Hobb's Fidenza collection on the wall of his living room. The cheapest one is currently $125,000.
Team IA’s thoughts: Tobi appreciates the attention NFT’s have brought to generative art. However, even if we were one of the top 20 richest Canadians, we would not spend $125k on an NFT.
MEME Of The Week
That’s all for today,
We’ll see you on Tuesday with the Technical Analysis!
Lastly, Team Inspired Analyst wishes you, Jummah Mubarak!
Until then,
Zain - signing off
From Inspired Analyst’s Team.
Disclaimer: This is not financial advice or recommendation for any investment. The content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.