Travis Esquivel is an engineer, passionate soccer player and full-time dad. He enjoys writing about innovation and technology from time to time.

Solana Gains Momentum With $250M USDC Infusion From Circle
Jul12

Solana Gains Momentum With $250M USDC Infusion From Circle

Image Source:  It can be recalled that stablecoin issuer Circle recently announced a strategic partnership with  to integrate its Cross-Chain Transfer Protocol (CCTP) into the blockchain ecosystem. As explained, this was meant to ensure a seamless bridge of frictionless Real-World Assets (RWAs).At the time of this announcement,  disclosed that boosting liquidity on Solana is one of its core missions for the year. Just as promised, $250 million worth of USDC  on the blockchain on June 10, adding fresh liquidity to boost the activities of market participants. As we earlier , CCTP was created to ensure a smooth and secure transfer of USDC between different blockchain ecosystems via the native burn and mint process. Its integration in the Solana blockchain implies that developers could swap USDC tokens from Ethereum and the EVM-compatible ecosystem. It is also important to note that this equally supports non-EVM blockchains.Soon after this announcement in March, investors reacted significantly to drag the SOL price to $190. However, the asset could not sustain its bullish momentum as it dropped as low as $125. At press time, the asset was trading at $135 after surging by 7% in the last seven days and declining by 5% in the last 24 hours.  Solana (SOL) Price Analysis Commenting on this, analysts disclosed that the ongoing development coupled with the Solana ETF traction could drive the price up. Our review of this prediction using the Supertrend indicator shows a validated buying signal with a possibility of an upsurge to the $160 mark.Similarly, the Moving Average Convergence Divergence (MACD) supports the uptrend […]

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China Doesn’t Increase Gold Holdings For 2nd Straight Month
Jul12

China Doesn’t Increase Gold Holdings For 2nd Straight Month

Image Source:  The People’s Bank of China released their latest gold holdings data on Monday and reported for a 2nd straight month that they did not add to their gold reserves. And this is after a streak of 18 months of consecutive reported purchases.Of course, China is an important participant in the gold market, with a surge of Chinese buying being one of the key drivers of the rally we’ve seen this year. So on today’s show, which takes place live at the Rule Symposium, I talk with Andy Schectman about the latest gold and silver developments.Video Length: 00:50:46

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Charted: Inflation Across U.S. Fast Food Chains (2014-2024)
Jul12

Charted: Inflation Across U.S. Fast Food Chains (2014-2024)

(Click on image to enlarge) Fast food joints were once the go-to option for quick, cost-friendly meals, but now, they’re starting to pinch the budget.Inflation has hit fast food chains hard in the past decade, with many restaurants seeing an average price increase on menu items of more than 50%.This graphic visualizes the average price increase of 10 core menu items from select American fast food chains, as well as the change in the consumer price index (U.S. city average) for food away from home, from 2014 to 2024.Fast food chain data comes from  and the food away from home figure comes from the Federal Reserve’s March 2024  data. The Rising Costs of Dining Out On average, eating at these 10 fast-food restaurants has gotten 63% more expensive since 2014, as shown in the table below. McDonald’s leads the pack in terms of fast food inflation, with some of its food items doubling in price since 2014. The company likely took notice of complaints of its rising prices and is preparing to roll out a month-long, affordable $5 combo  this summer.While not visualized on the graphic above, Subway and Starbucks were the only two restaurants that had average price increases that were lower than food away from home inflation, at 39% for both restaurants.As the cost of dining out has increased across the board, with even fast food options surpassing , consumers are running out of cheaper alternatives when it comes to having food away from home.

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Dow Up Over 300 Points; S&P 500, Nasdaq Resume Rally
Jul12

Dow Up Over 300 Points; S&P 500, Nasdaq Resume Rally

The Dow Jones Industrial Average () is up 313 points midday, just barely below record highs, while the S&P 500 Index () and Nasdaq Composite Index (IXIC) resume their rally after yesterday’s breather. Investors are unpacking earnings reports from several bank giants today, as well as this morning’s PPI data, which showed wholesale prices rising slightly higher than expected in June.   stock Lucid Group Inc (Nasdaq: ) is seeing unusually high options volume amid soaring price action. So far, 227,000 calls and 69,000 puts have been exchanged, already 5.9 times the average daily options volume. Expiring today, the weekly 7/12 4-strike call is the most popular, with new positions being opened there. At last glance, LCID was up 20% at $4.08, on track for its third-straight daily win following its announcement of 70% delivery growth. Archer Aviation Inc (NYSE: ) is up 12.4% at $5.13 at last glance, after news of the company’s plans to develop electric air taxis with Southwest Airlines (LUV). Shooting out of penny stock territory, ACHR is still down 16% year to date.  Wells Fargo & Co (NYSE: ) is down 6.9% at $56.02 at last look, headed for its worst daily percentage loss since March 2023. Though the company reported better-than-expected second-quarter results, net interest income declined 9% year over year, coming in below expectations at $11.92 billion. Since the start of 2024, the equity is up 13.6%. 

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Yesterday Was Not Bearish For Stocks At All
Jul12

Yesterday Was Not Bearish For Stocks At All

Is the market about to crash?I ask because everywhere I look, I see analysts and gurus proclaiming that yesterday’s “bearish” action was the start of a major collapse.There’s just one problem with this… MOST of the market rallied yesterday.I’m not making this up… over 400 of the 500 companies in the S&P 500 finished the day UP yesterday. The reason the market fell at all is because big tech, which comprises 30% of the market’s weight, dropped hard.In fact, the overall market breadth (a measure of internal market strength) actually erupted to new all time highs yesterday.Does this look like the start of a major collapse to you? This is why you have to be so careful when someone starts spouting off bearish arguments based on stocks dropping. It’s so easy to panic and sell… when the dip might in fact be a MAJOR buying opportunity.Case in point, a LOT of people sold in April when the market corrected just ~5% (a totally healthy correction in the context of a bull market). The S&P 500 has since rallied over 600 points. Anyone who sold in April MISSED OUT on making some serious money!  Remember, as investors, our job is to make money, not look for any excuse to dump stocks and panic about something bad happening. And as I’ve outlined in recent articles, this means riding bull markets for as long as possible, and then side-stepping bear markets when they eventually hit.In the very simplest of terms, you need to be invested in stocks, until […]

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