CoinBase IPO Nuances, UK Labor Market, Palladium Records

21 Nis 2021

One of the main events of the last week, and maybe of the first half of 2021, was CoinBase IPO. We wrote about it in detail last week. But over the weekend, a number of interesting details emerged that present the situation in a slightly different vector. The point is that a number of leaders of the crypto exchange (at the level of CEO, CFO, COO), were very actively selling CoinBase shares.

There's nothing criminal in this, but the scale of the sales, to put it mildly, is alarming. The head of the company sold 70% (!) of his block of shares. The chief accountant got rid of 86% of the shares. CPO (Chief Product Officer) sold 97%. The chief financier of the company (CFO) went further than all, who sold 100% of the shares (!). Draw your own conclusions, although they are obvious.

DogeCoin, meanwhile, for some time became the 5th cryptocurrency in the world in terms of capitalization. The coin, created for fun during 3 hours, which does not even pretend to be a full-fledged financial instrument (unlike the same Bitcoin or Ether), since it was created "for fun", was estimated at $50 billion. That's all you need to know about the cryptocurrency market and what is happening on it: common sense left it...

Yesterday's statistics on the UK labor market was formally quite optimistic: the number of applications for unemployment benefits fell, as well as unemployment rates did. But at the same time, the number of new jobs in the country has decreased. Let us recall that despite Britain breaking out of the economic impasse over the success of the vaccination campaign, this is an issue that has not yet been fully resolved. Brexit dramatically slows down the process. Breaking EU pots is very costly for Britain, especially in the area of ​​international trade. Exports to the EU fell by 40% and imports from the EU - by 20%. As a result, the trade balance with its largest partners - the EU - went into the deepest minus. All in all, selling the pound at current prices continues to seem like a great medium-term trading idea to us.

The purchase of palladium may turn out to be another promising undertaking. Despite its new all-time highs and a general feeling of overbought, the permanent shortage in the market is an ideal environment for a constant price increase in the future. And according to analysts, 2021 should be the 10th consecutive year of palladium deficit in the market.