Happy Friday All! Its been a short week here in South Africa after our public holiday on Monday. However its been a super interesting week for the markets and quarterly results. Lets get into it. 😱
The S&P 500 and Dow Jones each closed at all-time highs for the third consecutive day. Yikes!
🎮Play-to-Earn Games are on the rise
Non-fungible token (NFT)-powered play-to-earn game Axie Infinity (AXS) has seen a series of explosions, surpassing $1 billion in sales volume, hitting 1m daily active users, and becoming "the most valuable NFT collection ever," among others.
🦠Yes, Yes, we tired of hearing about the Delta variant.
Vaccine stocks fell today after a new study highlighted that vaccines’ effectiveness is not as strong against the rising Delta variant as previously indicated. The study indicated that the Pfizer and Moderna vaccines sharply declined in effectiveness against the Delta variant as it raged throughout June and July. Moderna’s vaccine was 76% effective and Pfizer’s, 42%.
💰Coinbase posts growing revenue and usage in first report as a listed company
The cryptoeconomy continues to innovate at a blistering rate and Coinbase has been at the forefront of this. TOTAL Trading Volume in Q2 was $462 billion, an increase of 38% compared to Q1. 😲
Total retail Trading Volume was $145 billion, an increase of 21% compared to Q1.
Institutional Trading Volume was $317 billion, an increase of 47% compared to Q1
🪓Hackers made off with $600 million in cryptocurrency
This was one of the of the biggest heists of its kind ever, enabled by a vulnerability in blockchain site Poly Network. Not to be confused with Polygon. Howeve in a strange turn of events the hackers returned almost half of the funds they stole on Wednesday. I think this demonstrates that even if you can steal cryptoassets, knowing how to get rid of the crypto and laundering them and cashing out is extremely difficult, due to the transparency of the blockchain.
🏰What a wonderful day for Disney
It seems like analysts were a bit too pessimistic, thinking that Disney’s online streaming would suffer like all the other online streamers and that the park business would drag them down. However The BIG beat came from Disney’s media and entertainment division, which posted $12.68 billion in revenue, an 18% YoY increase. Disney’s Parks, Experiences, and Product segment grew more than 100% YoY to $4.31 billion — this is evidence of a strong post-COVID recovery. It hasn’t fully recovered, but posted a profit of $356 million this quarter, compared to a loss of $1.87 billion this time last year.
🐝❤️Bumble ($BMBL ) the poplar dating app released it latest financials
Revenue: $186M, +38% YoY
EPS: ($0.06) vs ($0.02) est
Paying Users: 2.9M, +20% YoY
🤖Palantir ($PLTR) came out with a massive revenue beat (I’m still a Snowflake fan)
EPS: $0.04 vs $0.04 est
REV: $376M, +49% YoY
🌊 OpenSea has another cracker of a month in #July 🚀
📈 $325M July volume, double previous ATH
📊 $22M in monthly fees
🔥 458k monthly NFTs sold, double previous ATH
Check out the number below in the graph
LINKS THAT DONT SUCK
🕸️ The useless web
🔥 Watch ETH get Burned
🎶Samsung’s latest product announcements
Thanks for reading all, have a great weekend and please give us a like if you enjoyed reading this weeks edition.❤️