❄️ Avalanche is taking over the crypto world

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Today's big stories

Agricultural equipment manufacturer Deere posted better-than-expected results
One new crypto token could be about to take down ethereum once and for all – Read Now
Best Buy’s earnings came in better than expected

Holy Crop

What’s Going On Here?

Deere – the world’s biggest agricultural equipment-maker – posted better-than-expected quarterly results on Wednesday.

What Does This Mean?

It’s a good time to be a farmer: the US reckons they’ll earn 20% more money this year than last, and the most they’ve made in eight years. And Deere’s been happy to help: sales of its big and small equipment climbed by 23% and 17% respectively last quarter compared to the same time last year, helping push overall profit up by a better-than-expected 69%. And since the company reckons the boom in demand will continue, it gave a better-than-expected profit outlook for 2022 too. That’ll do, pig: investors initially sent Deere’s shares up 4% after the news.

Why Should I Care?

The bigger picture: America’s looking up.
Deere’s strong results are a good sign for America as a whole: the company’s an economic bellwether, meaning high demand for its products suggests the wider economy is firing on all cylinders. Data out on Wednesday backs that up: it showed that claims for US unemployment benefits fell to their lowest in 50 years last week.

Zooming out: Will the Fed step up?
The US isn’t out of the woods yet, mind you: supply chain shortages are still plaguing the country’s businesses, with inflation at its highest level in 30 years. Combine that with Wednesday’s jobs data, and the Federal Reserve might need to start thinking about raising interest rates sooner than planned next year. But it’ll have to be careful: higher rates could end up slowing down price rises, sure, but they could also deter spending and knock the recovery off course altogether.

You might also like: The one group of stocks that could ride out shortages and inflation – no matter how long they hang around.

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Analyst Take

Can Avalanche Take The Crypto World By Storm?

Stéphane Renevier, Analyst

What’s Going On Here?

The crypto market has been tanking lately.

But one new token, Avalanche, has been going from strength to strength.

And with good reason: it’s the fastest smart contract platform out there, with a time-to-finality of less than 2 seconds, compared to bitcoin’s 60 minutes.

It’s also flexible, secure, and cheap – one-tenth the price of executing a transaction on ethereum.

That’s probably why it has an extensive list of uses across the entire DeFi and NFT spectrum, and why it’s partnered with “traditional” organization Deloitte.

So that’s today’s Insight: whether Avalanche is worth all the fuss, and how to buy in if you think it is.

Read or listen to the Insight here

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