Ethereum Whale Keeps Buying

And, Rumble's sequential revenue growth.

August 13, 2024

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Today is Tuesday, August 13, 2024.

The Early Bird Index today is 66.53.

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Ethereum Whale Keeps Buying

The price of Ethereum jumped 5% on Monday thanks in part to a big-time investor betting on the cryptocurrency.

Details: According to Cointelegraph, a crypto whale recently acquired over $12.8 million in Ethereum. This boosted the sentiment surrounding Ethereum.

Definition: A crypto whale is a person or group that owns a lot of value in a digital asset.

Bigger Picture: In the past week, over $155 million in inflows went into Ethereum, according to CryptoPotato.

Early Bird’s Nest Egg Gains: Despite Monday’s positive movement, it's important to note that Ethereum has been facing some challenges.

  • There are technical indications of a persistent downtrend in Ethereum's price.

  • The cryptocurrency market as a whole has experienced a strong bearish reversal in the past week.

Final Thoughts: Ethereum’s price is up 14% this year, but down 14% in the last 30 days.

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Notables

Notable Earnings Today: Home Depot (NYSE: HD), ON Semiconductor (NYSE: ONON), Nu Holdings (NYSE: NU), Tencent Music (NYSE: TME), Intuitive Machines (Nasdaq: LUNR), MSG Sports (NYSE: MSGS), Melco Resorts & Entertainment (Nasdaq: MLCO), Sea Limited (NYSE: SE) Hut 8 Mining (TSE: HUT), Paysafe (NYSE: PSFE), Franco-Nevada (NYSE: FNV), Duos Technologies Group (Nasdaq: DUOT), Hudbay Minerals (NYSE: HBM), HUYA (NYSE: HUYA), Hyzon Motors (Nasdaq: HYZN), Ibotta (NYSE: IBTA), IHS Holding Limited (NYSE: IHS), Loar Holdings (NYSE: LOAR), Mercury (Nasdaq: MRCY), Mersana Therapeutics (Nasdaq: MRSN), Mind Medicine (Nasdaq: MNMD),  NCR Atleos (NYSE: NATL), NeuroPace (Nasdaq: NPCE), Ouster (NYSE: OUST), Silvercorp Metals (NYSE American: SVM), SurgePays (Nasdaq: SURG), Talen Energy (Nasdaq: TLN), The Oncology Institute (Nasdaq: TOI), U.S. Physical Therapy (NYSE: USPH), XP (Nasdaq: XP), Zevra Therapeutics (Nasdaq: ZVRA).

Notable IPOs Today: High Roller Technologies, Inc. (NYSE American: ROLR), Impact BioMedical, Inc. (Nasdaq: IBO).

Notable Equity Crowdfunding Campaigns Ending Today: Pie King Cafe (SMBX).

Notable Economic Events Today: Producer Price Index / Core Producer Price Index (8:30 a.m. ET), API Weekly Crude Oil Stock (4:00 p.m. ET).

Rumble's Sequential Revenue Growth

Source: Rumble

Online video platform Rumble (Nasdaq: RUM) jumped 6.78% in after-hours trading on Monday after reporting strong financial results.

Financials: Rumble reported a loss of 13 cents per share in the past quarter and revenue of $22.5 million; both were better than expected.

Powering the Story: The company experienced sequential revenue growth of 27% and expects revenues to increase sequentially throughout 2024.

Final Thoughts: The stock is up 32% this year.

Western Midstream’s Secondary Public Offering

Energy company Western Midstream Partners (NYSE: WES) fell 2.37% in after-hours trading on Monday after disclosing a secondary public offering of shares.

Final Thoughts: The stock is down 7% in the last 30 days.

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The contents of Early Bird are intended for informational and entertainment purposes only. They do not constitute trade or investment recommendations and they are not financial or legal advice. Readers are encouraged to consult licensed professionals for personalized guidance regarding their financial or legal situations.