The world pandemic seems to be slowing down thanks to vaccination efforts, yet, the third wave might becoming shortly due to Delta variant. Nevertheless the world economy seems to be getting back in shape. Generally, the pandemic has significantly affected almost all industries, but the biggest hits were seen mainly across tourism, hospitality and logistics. Due to this, and constant money printing that we can see now, inflation is rising. Some of the expectations of future inflation are really frightening and there are even analysts forecasting a long period of significant inflation.
Various market news
Microsoft, one of the biggest IT giants, has decided to buy a cybersecurity startup RiskIQ. This company is mainly focused on safety of softwares and protection from activities of hackers. This deal was announced on Monday and it seems that Microsoft has agreed to pay 500 million dollars for the acquisition.
Microsoft is not the only huge company that is looking at new business opportunities. Only a while ago Walmart created a startup called Flipkart, which is mostly focused on e-commerce in India. According to the current news this new startup is now valued at around 37 million dollars and its attracting more and more attention from investors, such as Japanese SoftBank Group Corp. It is even planning to go public in the future, which already shows its potential and ambitions.
Not every company is having such a great time though. TikTok, which is a new social network used mostly by young millenials and Gen Z, has to postpone its IPO. This is connected to the announcement of Chinese regulators, who warned against possible data breaches from the platform. Due to this, TikTok has decided to wait with its IPO until this settles down. In November the company was valued at approximately 180 billion dollars.
Cryptocurrencies
The cryptocurrency market is rather stagnant right now, but that does not mean that you should forget about it. For instance, we have decided to use this time to educate our readers about Stablecoins, which we have explained in our latest Fundament of the week article. If you want to know more about this, usually, fiat-pegged cryptocurrencies, follow this link .
We have also looked at some news that are connected to the cryptocurrency market. What stood out this week was the news about VISA and its cryptocurrency volume. According to the latest release from VISA, more than 1 billion dollars worth of cryptocurrencies was transacted during first half of this year on the network. Compared to its normal volumes it is obviously not that significant, however, it only shows that cryptocurrencies are being used as a payment networks more often than before. This only helps the adoption of cryptocurrencies, which is why we have informed more about this in the following article .
Comments