Ariadne Joins Hands with NEAR Foundation

Announcing its strategic partnership with NEAR Foundation, DeFi marketplace Ariadne revealed that it also received a grant from the NEAR Foundation. This partnership aims to solve the issue associated with high gas costs and make sure that the APYs used in the decentralized finance system do not mislead the people and eat into their profits. The collaboration will lead to the development of the NEAR Protocol, a public blockchain based on the proof of stake consensus mechanism.

Ariadne has already taken a shot in order to solve the above issues by deploying its smart contracts on Aurora. It will also develop the smart contracts for NEAR as part of this collaboration. As a result, users can access the best farms available on different blockchain networks such as Ethereum, Binance Smart Chain, Solana, and Polygon, among others.  

AMZN Stock Down 4.7%, Amazon Reports Q3 Earnings Results that Are Below Expectations

Amazon’s e-commerce sales jumped 3% in the past year to $49.94 billion, thereby missing analysts’ estimates of $51.53 billion.

Amazon.com Inc (NASDAQ: AMZN) stock was trading at around $3,285, down approximately 4.7%, during Friday’s pre-market trading session. The sudden drop in the Amazon shares price occurred as investors showed their disappointments with the company’s Q3 earnings results. The decline was sudden as AMZN shares had gained almost 2% during the day.

Notably, Amazon reported revenue of $110.81 billion during the three months ending September 30, while a survey conducted by Refinitiv indicates analysts expected the company to report revenue of $111.6 billion. Consequently, the earnings per share for the third quarter came in at $6.12, while analysts expected $8.92 according to Refinitiv.

The e-commerce technology company has recorded a notable decline in volume as people return to physical shopping. Furthermore, herd immunity attained in most global places has resulted in the easement of Covid-related restrictions.

Ripple Trades between $0.85 and $1.20 as Bulls Fail to Keep Price above $1.20 High

The price of Ripple (XRP) has been stuck below the $1.20 resistance level after the altcoin fell to a low of $1.06.

The cryptocurrency fell into the downtrend zone as buyers try to push XRP above the moving averages. In the previous price action, buyers were pushed back at the high of $1.20 as the altcoin fell to a low of $0.95. Today, XRP price is trading below the moving averages. A break above the moving averages will accelerate the price action. A rejection at the 21-day line or the 50-day moving averages line will bring the altcoin down. Ripple is trading at $1.06 at the time of writing.

Australian securities regulator issues guidelines for crypto ETPs

The Australia Securities and Investments Commission (ASIC) has issued its response to public consultation on cryptocurrency exchange-traded products (ETPs) alongside fresh industry guidance.

On Friday, the regulator released a set of regulatory requirements for funds looking to offer crypto ETPs, including exchange-traded funds (ETFs) and structured products, following the months of industry consultation initiated in late June.

According to the official guidance, ASIC has so far greenlighted ETPs based on major cryptocurrencies like Bitcoin (BTC) and Ether (ETH) and expects more crypto assets to become a foundation for ETPs in the future:

Apple (AAPL) Shares Down 3.65% as Supply Strain Stirs Q4 2021 Earnings Miss

Apple noted that its supply chain will see a further strain in the current quarter as the production operations resulting from the COVID-19 pandemic still lingers.

The shares of American multinational technology company, Apple Inc (NASDAQ: AAPL) is down by 3.65% in the pre-Market today, following the release of the fiscal fourth-quarter earnings report that sees revenue missing estimates. As reported by CNBC, Chief Executive Officer Tim Cook attributed the revenue miss to COVID-19 related manufacturing, but also highlighted the firm’s strong performance overall.