2023-11-14 19:05

ARKANSAS - Standard Lithium Ltd., a key player in the United States lithium market, is making significant strides in the extraction of high-grade lithium brine resources, particularly in Arkansas's Smackover Formation. The company's recent developments have been bolstered by Exxon (NYSE:XOM)'s entry into the region for lithium exploration, underscoring the area's potential as an emerging U.S. lithium hotspot. The company has announced its readiness to contribute to domestic lithium supply with its Phase 1A and South West Arkansas Projects, expected to commence operations in 2026 and 2027, respectively. This announcement comes at a time when partnerships with industry giants like Koch Industries and LANXESS (ETR:LXSG) are driving innovation in energy and resource extraction. Standard Lithium's expansion into the East Texas Smackover Formation has been fruitful, with three new wells producing high-quality brine with lithium concentrations reaching up to 806 mg/L. This expansion is part of a larger brine leasing program aimed at developing strategic global resources. With a commitment to sustainable practices, Standard Lithium is focused on developing U.S. lithium-brine properties that benefit from high-grade resources, established infrastructure, skilled labor availability, and efficient permitting processes. The company employs a scalable Direct Lithium Extraction (DLE) and purification process to achieve commercial-scale lithium production. Their principal projects are located in southern Arkansas's Smackover Formation near Louisiana. Additionally, they hold interests in potential lithium brine areas identified in East Texas and mineral leases in the Mojave Desert. The technical aspects of these initiatives have been validated by Steve Ross, P.Geol., Vice President of Resource Development, who has approved the scientific and technical information under the guidelines of National Instrument 43-101. Investors can find Standard Lithium listed on several exchanges including the TSX Venture Exchange, NYSE American (symbol “SLI”), and Frankfurt Stock Exchange (symbol “S5L”), operating under the frameworks set by the United States Private Securities Litigation Reform Act of 1995. https://www.investing.com/news/commodities-news/standard-lithium-advances-in-highgrade-lithium-brine-extraction-93CH-3234173

2023-11-14 18:36

NEW YORK - The Render Network, known for its distributed GPU rendering services, has officially transitioned from Ethereum to the Solana blockchain, capitalizing on Solana's advanced technological capabilities and lower transaction costs. This strategic move is aimed at integrating real-time streaming, dynamic non-fungible tokens (NFTs), and machine learning applications into its platform. In a bid to facilitate the migration of its user base, Render has introduced an Upgrade Assistant program supported by Wormhole protocol, providing an incentive of 1.14 million RNDR tokens. This three-month initiative is designed to encourage users to transfer their tokens early, with a portion of the grant allocated for these early migrators. The switch to Solana comes at a time when the blockchain has demonstrated significant growth, with a notable surge of 144% in value over the past month. Moreover, Solana's price has increased by over 15 times against Ethereum. Ryan Shea highlighted Solana's attributes such as speed, cost-effectiveness, and scalability, and how they align with Render's long-term objectives. This integration is anticipated to further propel Solana’s adoption in the blockchain community and potentially reduce Ethereum's market presence. Solana's technologies like compressed NFTs and on-chain order books are expected to provide Render users with new utilities. While the $RNDR token will continue to exist, it will no longer be maintained by the Render Foundation nor function on the Render Network post-migration. This development marks a pivotal step for Render Network as it seeks to leverage blockchain technology to enhance its offerings and user experience. https://www.investing.com/news/cryptocurrency-news/render-network-shifts-to-solana-for-lower-fees-and-advanced-features-93CH-3234149

2023-11-14 18:08

NEW YORK - In a contrasting turn of events in the cryptocurrency market today, major digital currencies Bitcoin and Ethereum saw their values decrease, while select decentralized finance (DeFi) assets experienced notable gains. Bitcoin's price dipped over 2%, trading at $36,049, and Ethereum followed suit with a nearly 3% drop to $2,041. The DeFi sector, however, painted a different picture. dYdX, a DeFi protocol built on the Ethereum network, saw its native token ETHDYDX soar by 42% over the past week. The platform itself recorded a nearly 7% increase in value within the last 24 hours, trading at $3.34. Maker (MKR), another prominent player in the DeFi space, witnessed its price peak at $1,423 before settling with a modest 1% gain for the day. PancakeSwap (CAKE), known for its automated market-making, also enjoyed an uptick in value of nearly 3%, with its price hitting $2.24. Last week's announcement regarding BlackRock (NYSE:BLK) Advisors' application for an Ethereum ETF initially sparked a bullish trend for Ethereum, leading to a significant surge in both its price and trading volume. Ethereum surpassed the $2,000 milestone following the news, which resulted in a 259% increase in trading volume and a 10% rise in the cryptocurrency's market cap. Meanwhile, Solana (SOL), another major cryptocurrency, continued to show resilience despite the cooling enthusiasm for ETFs related to Bitcoin and Ethereum. It traded at just over $56 per coin after adding more than $3 billion to its market cap within a single day last week. Solana's market cap briefly surpassed that of stablecoin USDC, highlighting the dynamic shifts occurring within the crypto market. Today's market movements underscore the volatile nature of cryptocurrencies and the varying factors that can influence investor sentiment and asset prices within this rapidly evolving space. https://www.investing.com/news/cryptocurrency-news/bitcoin-and-ethereum-decline-as-defi-assets-surge-93CH-3234140

2023-11-14 18:01

NEW YORK - Rabobank, a premier financial institution in the agricultural sector, has provided insights into the current state of global food demand and its impact on commodity markets. The bank's analysis points to a softening in food demand driven by the persistent sting of high inflation and interest rates, which continue to shape consumer behavior. In a recent update, Rabobank's head of agri commodities, Carlos Mera, noted that while some staple food prices are anticipated to decrease, wheat is bracing for its fifth consecutive year of deficit. This is largely attributed to unfavorable weather conditions and possible curbs on exports from Russia. Amid these challenges, Mera identified specific sectors that may see a silver lining. The bakery, dairy, and animal protein industries are expected to benefit from an increase in supplies from South America. Looking ahead to the 2024/25 season, the bank forecasts a surplus in the coffee market estimated at 6.8 million bags. This projection is supported by improved agricultural conditions in key producing countries such as Brazil, Colombia, and Thailand. Additionally, sugar prices are expected to ease within the same timeframe due to these favorable conditions. However, not all commodity forecasts are positive. Brazil may be on track for a record soybean harvest, but Rabobank cautions about weaker wheat production from Argentina and Australia. Ukraine's wheat exports are also predicted to diminish, contributing further to the global supply constraints. Rabobank's analysis serves as a vital barometer for stakeholders in the agricultural sector, offering a glimpse into future market dynamics as they adapt to ongoing economic pressures. https://www.investing.com/news/commodities-news/rabobank-sees-food-demand-dip-amid-high-inflation-forecasts-commodity-shifts-93CH-3234135

2023-11-14 17:58

Copyrighted Image by: Reuters NEW YORK - Ethereum has maintained its position above the $2,000 mark, a level buoyed by recent bullish market activities including a filing for an Ethereum ETF by BlackRock (NYSE:BLK). The world's second-largest cryptocurrency by market capitalization saw its trading volume soar by 39.43%, reaching over $12.95 billion. The digital currency experienced a significant increase in network fees on Sunday, hitting a four-month peak of $5.72 per transaction, as reported by Sentiment. This surge in fees coincides with Ethereum's price rally above $2,000 and is the highest since July 4, although still below May's average fee of $14. Notably, most of these fees were directed toward transactions involving Wrapped Ethereum (with). Despite the increased cost of transactions, Ethereum has continued to show strength in the market. As of today, CoinMarketCap data indicated that Ethereum registered a modest 0.53% gain over the past day, trading at $2,060.58. This positive movement extends its weekly gains to +8.88%. Investors and traders are keeping a close eye on Ethereum's performance after it recovered from the support level of $2,030. Market analysts suggest that if Ethereum maintains its current trajectory, it could aim for the next resistance level at $2,150. However, should it fall below the $2,030 mark within the next 24-48 hours, there's potential for a retraction to the support level of $1,945. The market's optimism remains high following BlackRock's Ethereum ETF filing and Ethereum's ability to stay above crucial moving averages despite a slight pause after peaking at $2,100 earlier this week. An increase in block trades, particularly focusing on December calls, indicates sustained interest and activity in Ethereum's market as it navigates through these price levels. https://www.investing.com/news/cryptocurrency-news/ethereum-holds-above-2000-as-trading-volume-surges-93CH-3234132

2023-11-14 17:52

HONG KONG - Boyaa Interactive, a renowned gaming company, has announced a significant move into the cryptocurrency space with plans to allocate $100 million toward purchasing digital assets. The initiative, part of a broader strategy to diversify the company's asset allocation and drive business expansion, is awaiting shareholder approval. In August 2023, Boyaa Interactive first revealed its intentions to integrate cryptocurrency investments into its business model, focusing on Bitcoin as a primary asset. The strategy has evolved, and on Monday, the company detailed its plans to invest $90 million in Bitcoin and Ethereum. An additional $10 million is earmarked for stablecoins Tether and USD Coin. These purchases are intended to be carried out through HashKey Exchange, which operates under the regulation of the Hong Kong Securities and Futures Commission. The proposed investment mandate, which aims to be executed over the next year, is a significant leap from the board-approved $5 million infusion into BTC and ETH earlier in August 2023. Boyaa Interactive's latest proposal outlines that a detailed circular will be dispatched by the end of November to provide shareholders with comprehensive information regarding the plan. This strategic pivot towards cryptocurrencies by Boyaa Interactive contrasts with actions taken by other software companies in the industry. For instance, in October 2023, Meitu indicated its plans to sell off its cryptocurrency holdings when market conditions are favorable. Investors and market watchers are now looking forward to the end of November when further details on Boyaa's cryptocurrency investment strategy will be made available pending shareholder consent. https://www.investing.com/news/cryptocurrency-news/boyaa-interactive-sets-100-million-for-cryptocurrency-investments-93CH-3234128