“Walk This Way!”

Hi There! As the winter weather settles in, I find myself welcoming my inner sloth. This December, rather than pushing to finish strong and tackle all my unfinished goals, I’ve decided to take it easy and focus on a month of rest and gratitude. Just last week, I took a moment to reflect on my accomplishments this year, and it struck me how many major wins I’ve achieved.

In this quiet month, I believe that from this softness and stillness can emerge renewed energy and creativity. I hope you can also find a bit of that softness in your own life as we approach the year’s end.

I look forward to finishing 2024 with gratitude and preparing myself for a vibrant 2025.

Alright, let’s dig in!

Last Week’s Market Overview (November 24 - November 30, 2024)

Stocks rose during the holiday-shortened week, with the S&P 500 reaching a new all-time high despite some resistance. The Dow faced losses as investors reacted to potential tariffs from the incoming Trump administration. Gold and Bitcoin prices fell, while optimism about a Trump presidency boosted Bitcoin by over 35% since the election.

U.S. Markets Recap

Equities: Major U.S. indexes gained over 1%, with the S&P 500 up 5.7% in November, marking its strongest month of the year. Consumer discretionary and financials led sector gains. 

• Sector Performance: Consumer discretionary (+13.2%), financials (+10.2%), and industrials (+7.3%) led the month's gains.

• Tech Stocks: Notable gains from Nvidia (+2.2%), Tesla (+3.7%), and strong performances from Apple, Microsoft, and Amazon.

• Semiconductor Index: PHLX Semiconductor Index up 1.5%, with gains from Lam Research, KLA Corp, Qualcomm, and others.

Fixed Income: U.S. Treasury yields fell, with the 10-year yield closing at 4.18%, down from 4.24% the previous week. 

Commodities: Oil prices declined amid OPEC+ uncertainty, while gold and silver also saw negative movements. 

Currencies: The dollar experienced its largest weekly drop in a year, while the yen surged 3.2% against the dollar, driven by expectations of an interest rate hike by the Bank of Japan.

U.S. Economic Recap (November 24 - November 30, 2024)

• Q3 GDP: Expanded at an annualized rate of 2.8%, driven by 3.5% rise in consumer spending.

• Consumer Confidence: Surged to 111.7 in November, reaching its highest level in over a year.

• Home Prices: Increased 3.9% year-on-year in September, with a 12% uptick in available listings.

Global Markets Recap (November 24 - November 30, 2024)

• Euro-area Inflation: Rose to 2.3% in November, exceeding the European Central Bank's 2% target.

• China: Manufacturing PMI rose to 50.3, indicating modest economic expansion.

• India: Economic growth slowed to 5.4% in Q3, the weakest in nearly two years.

Crypto Recap (November 24 - November 30, 2024)

• Bitcoin: Bitcoin hit $104K as I was writing (12/4/2024)

• SUI to launch Bitcoin Staking: Sui is launching a Bitcoin staking feature in December, allowing Bitcoin holders to stake their BTC on Babylon, a Bitcoin layer-2 network, and receive LBTC, a liquid staking token from Lombard. This initiative aims to integrate Bitcoin liquidity into the Sui ecosystem, expanding its decentralized finance offerings. LBTC will serve as a collateral asset, enabling lending, borrowing, and trading activities, potentially unlocking $1.8 trillion worth of Bitcoin liquidity on the Sui platform.

• Among Last Week’s Top Crypto Gainers:  ENS, HBAR, TORN

Here are other key highlights from last week:

• Trump administration reportedly plans to empower CFTC oversight of crypto.

• Cardano deployed first zero-knowledge smart contract.

• Someone just took out a $2.75M loan against a one-of-one CryptoPunk NFT.

• FIFA partners with Mythical Games to launch free-to-play Soccer Game.

• Polygon Labs cleared up Agglayer misconceptions.

This week is packed with high-impact economic events!

Key U.S. Economic Releases This Week:

1. ISM Manufacturing PMI: Came in above consensus but still in contraction territory.

2. JOLTS Job Openings: Job openings increased in October, with rising quits and low layoffs.

3. ADP Nonfarm Payrolls: Slightly lower than expected, declining from the previous month.

4. ISM Services PMI: Services sector weakened, coming in lower than anticipated.

5. US Beige Book: Reported modest price increases and slight economic growth across most districts.

Upcoming events include Jobless Claims, Nonfarm Payrolls, Unemployment Rate, Average Hourly Earnings, and Consumer Sentiment.

Fed speakers this week!

Fed Speakers:

• FOMC members Waller and Williams leaned towards a December rate cut.

• Kugler and Goolsbee suggested policy is well-positioned but rates may need to come down.

• Musalem indicated a potential slowdown or pause in rate cuts may be approaching.

• Fed Chair Powell emphasized caution in finding neutral rates and noted the economy's good shape.

Several more Fed speeches are scheduled for Friday, including Bowman, Goolsbee, Hammack, and Daly.

Earnings:

Key earnings are outlined in red in the chart below.

Global Economic Events This Week:

• Switzerland CPI

• BoE Gov Bailey Speaks

• ECB President Lagarde Speaks

• UK Construction PMI

• OPEC-JMMC Meetings

• Canada Unemployment Rate

Trading Tip:

“AI-Related Crypto to watch AIOZ and NEAR!"

Week 11/24/24 - 11/30/24 Recap

Special Tools and Strategies

You Can Buy It Yourself: Where to Buy Crypto

Investing in cryptocurrency is not as complex as you may think. Thanks to the rise of user-friendly platforms, buying crypto is as easy as shopping online. But before you buy, it’s important to understand where to buy crypto safely and effectively. In the last issue (Issue #108), I discussed key points to consider when buying crypto and how to approach your investments. Now, let’s take a look at the specifics of centralized exchanges (CEXs) and apps.

You don’t need to rely on anyone else to buy or store your crypto. Avoid scams by taking control of your investments and working only with trusted platforms.

Here’s a breakdown of some popular centralized exchanges and apps to help you get started.

Popular Centralized Exchanges and Apps

1. Coinbase

• Trading Fees: 0.5% per trade plus flat fees based on transaction size.

• Rating: ★★★★☆ (4/5)

• Cryptocurrencies Offered: 200+

• Staking/Rewards: Up to 12% APY on specific cryptocurrencies.

• Best Use Case: Beginners looking for a user-friendly platform and educational resources.

• Why Users Pick It: Simple interface, high security, and Apple Pay integration.

• Important Notes: Higher fees compared to other exchanges but excellent for newcomers.

• Countries Supported: Over 100, including the U.S., Canada, and most of Europe.

2. eToro

• Trading Fees: 1% per transaction plus spreads.

• Rating: ★★★★☆ (4/5)

• Cryptocurrencies Offered: 30+

• Staking/Rewards: Staking available for certain coins with variable APY.

• Best Use Case: Social trading and for beginners wanting to copy experienced investors.

• Why Users Pick It: Unique social trading feature and ease of use.

• Important Notes: Spread fees can be high for smaller trades.

• Countries Supported: Global, including the U.S., U.K., and Australia.

3. WeBull Pay App

• Trading Fees: Zero commissions (fees included in spread).

• Rating: ★★★★☆ (4/5)

• Cryptocurrencies Offered: 50+

• Staking/Rewards: None.

• Best Use Case: Stock and crypto investors looking for an all-in-one platform.

• Why Users Pick It: Commission-free trading and advanced charting tools.

• Important Notes: No wallet support for transferring crypto off the platform.

• Countries Supported: U.S. only.

4. Gemini

• Trading Fees: 1.49% for most trades, lower fees on ActiveTrader.

• Rating: ★★★★☆ (4/5)

• Cryptocurrencies Offered: 100+

• Staking/Rewards: Varies depending on relevant protocol.

• Best Use Case: Secure storage and institutional-grade tools.

• Why Users Pick It: Emphasis on security and insured hot wallets.

• Important Notes: Offers regulated custody services for extra peace of mind.

• Countries Supported: Over 60, including the U.S., U.K., and Singapore.

5. Crypto.com

• Trading Fees: 0.4% maker/taker fees, discounts for high-volume traders.

• Rating: ★★★★☆ (4/5)

• Cryptocurrencies Offered: 250+

• Staking/Rewards: Up to 19.07% APY for staking some tokens.

• Best Use Case: Mobile-first users and crypto enthusiasts seeking rewards.

• Why Users Pick It: Robust rewards program and Visa card integration.

• Important Notes: App-only platform; desktop users may prefer other options.

• Countries Supported: Over 90, including the U.S., Australia, and Canada.

6. Binance

• Trading Fees: 0.1% per trade (among the lowest in the market).

• Rating: ★★★★☆ (4.5/5)

• Cryptocurrencies Offered: 350+

• Staking/Rewards: Flexible savings and staking options with varying APYs.

• Best Use Case: Advanced traders and those seeking low-cost trading.

• Why Users Pick It: Comprehensive tools and extensive crypto selection.

• Important Notes: U.S. residents must use Binance.US due to restrictions.

• Countries Supported: Global, except restricted regions.

7. CashApp

• Trading Fees: Fees included in the spread, not itemized.

• Rating: ★★★☆☆ (3.5/5)

• Cryptocurrencies Offered: Bitcoin only.

• Staking/Rewards: None.

• Best Use Case: Beginners looking for simple Bitcoin purchases.

• Why Users Pick It: Instant Bitcoin purchases with an intuitive app.

• Important Notes: Limited to Bitcoin; no support for other cryptocurrencies.

• Countries Supported: U.S. only.

8. PayPal

• Trading Fees: 1.5% per transaction.

• Rating: ★★★☆☆ (3.5/5)

• Cryptocurrencies Offered: Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and the new PYUSD.

• Staking/Rewards: None.

• Best Use Case: Payment app users wanting to dabble in crypto.

• Why Users Pick It: Familiar platform with easy setup.

• Important Notes: Limited features and higher fees compared to exchanges.

• Countries Supported: U.S. and select international markets.

9. Robinhood

• Trading Fees: Zero commissions (fees included in spread).

• Rating: ★★★☆☆ (3/5)

• Cryptocurrencies Offered: 20+

• Staking/Rewards: None.

• Best Use Case: Stock investors looking to add crypto to their portfolios.

• Why Users Pick It: Seamless stock and crypto integration.

• Important Notes: Cannot transfer crypto off-platform.

• Countries Supported: U.S. only.

10. Kraken

• Trading Fees: 0.26% taker / 0.16% maker.

• Rating: ★★★★☆ (4.5/5)

• Cryptocurrencies Offered: 200+

• Staking/Rewards: Up to 26% APY on staking.

• Best Use Case: Advanced traders seeking low fees and advanced tools.

• Why Users Pick It: High liquidity and excellent customer service.

• Important Notes: Suitable for experienced traders.

• Countries Supported: Global, except restricted regions.

Summary Table

With so many platforms available, choosing where to buy crypto depends on your goals, experience level, and preferred features. Are you a beginner looking for simplicity or an advanced trader seeking low fees and robust tools? Take a moment to understand your investor type and align it with the platform that best suits your needs. Having an understanding of your options and staying informed will empower you to make smart, secure decisions as you get started with crypto.

Disclaimer: This newsletter is strictly educational. The information this report provides does not constitute investment, financial, trading, or any other advice. You should not treat any of the report’s content as such. Please be careful and do your research.