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This year has seen the Zip Co Ltd (ASX: ZIP) share price nosedive, tumbling 88% year to date.

Amid the carnage, the company is rumoured to have brought in a consultant to “consider options” for its UK business.

Experts argue Zip should retreat from both the UK and the US, as well as abandon its takeover of Sezzle Inc (ASX: SZL), according to reporting by The Australian.

At the time of writing, the Zip share price is 52 cents, down 2.83% on its previous close.

For context, the broader market is gaining today. The S&P/ASX 200 Index (ASX: XJO) is currently up 1.32% while the All Ordinaries Index (ASX: XAO) has lifted 1.35%.

Let’s take a closer look at what might be on the table for Zip’s future.

Zip share price down as company ponders future in UK

The Australian claims the company is pondering the future of its British business, as market experts voice encouragement for Zip to scale back and focus on its profitable operations, such as its Australian arm.

The article says:

Market experts believe that the road to recovery for Zip Co involves staging an exit from the US and Britain and focusing on its Australian operation, which is profitable.

This would be tough medicine for Zip, reducing its four operating platforms to one.

Zip first broke into the United Kingdom back in 2019 upon the acquisition of New Zealand-based PartPay. However, the company recently noted that, broadly outside of Australia and New Zealand, it’s not turning a profit.

Staying overseas, the same market experts have reportedly also branded Zip’s US business another dead weight. The company acquired US BNPL business QuadPay in 2020, rebranding it to Zip last year.

Zip has been operating in the US for around four years now. It has previously said its US arm was expected to follow the “glidepath” to profitability that occurred in Australia and New Zealand, which took around five years.

Furthermore, the article said:

[Another] possibility thrown around is a sale of Zip’s Australian operation, but most believe that this is the part of the operation that must be retained in a quest to return to profitability and that it needs to exit other markets.

What about the Sezzle acquisition?

The experts also think Zip should abandon its planned acquisition of Sezzle Inc (ASX: SZL), The Australian reported.

This comes as Zip faces increasing competition and regulatory oversight, as well as rising bad debts and the apparent economic slowdown.

According to its FY22 half-year results, Zip had around $2.37 billion in borrowings and just $1.61 billion in assets.

Based on today’s Zip share price, the company has a market capitalisation of just $364.6 million.

The post Zip share price falling again as market experts argue for UK and US exit appeared first on The Motley Fool Australia.

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More reading

• Why A2 Milk, Bubs, Evolution, and Zip shares are rising despite the selloff
• The Zip share price is actually climbing today. What’s going on?
• Is the ‘path to profit impossible’ for Zip shares?
• ASX 200 midday update: Block and Zip crash amid market selloff
• Own Zip shares? CEO warned co-founder 8 months ago, ‘There are some clouds gathering on the horizon’ after Morgan Stanley meeting

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended ZIPCOLTD FPO. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Northern Star Resources Ltd (ASX: NST) share price has been having a tough time in 2022.

Since the start of the year, the gold mining giant’s shares have lost 14% of their value.

Where next for the Northern Star share price?

The good news for investors is that one leading broker believes the Northern Star share price could be heading a lot higher from current levels.

According to a recent note out of Citi, the broker has retained its buy rating with a trimmed price target of $12.10.

Based on the current Northern Star share price of $8.10, this implies potential upside of almost 50% for investors over the next 12 months.

In addition, the broker is forecasting fully franked dividend yields of 2.8% in FY 2022 and 3.5% in FY 2023.

What did the broker say?

Although Citi has reduced its gold price forecasts, it still sees the price of the precious metal remaining elevated for some time to come. In light of this, the broker appears to see recent weakness in the Northern Star share price as a golden opportunity for investors.

It commented:

We’ve trimmed our gold price in FY22/23e. “Push and Pull” frictions can keep average prices elevated, but with upward momentum lagging. On a 6-12m view we now see gold trading at US$1775/oz vs spot US$1853/oz.

We also update for the May reserve and resource update. Key changes are a lower grade at the Thunderbox underground and reduced open cut material at Jundee from Orelia vs prior Echo numbers. EBITDA reduces by 1/8/6% in FY22/23/24e. Our NAV is now A$10.35sh. Our TP reduces to A$12.10/sh on the lower earnings. Next catalyst is the KCGM mill expansion mid-year. We remain at Buy.

The post Broker says the Northern Star share price weakness could be a golden opportunity appeared first on The Motley Fool Australia.

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More reading

• 5 things to watch on the ASX 200 on Monday
• Here’s why the Northern Star share price is smashing the ASX 200 on Friday
• ‘The bar has been set low’: Why this top broker just upgraded the Evolution Mining share price
• Investing in ASX 200 gold shares? Here’s the latest on the gold price forecast
• What’s with the Northern Star share price on Wednesday?

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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S&P/ASX 200 Index (ASX: XJO) shares lifted following some encouraging words on Australia’s economic outlook from Reserve Bank of Australia (RBA) governor Philip Lowe this morning.

At the time of writing, ASX 200 shares are up 1.17%.

Though Lowe was clear the road ahead was not without difficulties.

Addressing the American Chamber of Commerce in Australia (AMCHAM), Lowe acknowledged that the global economy was facing challenging times. He added that most nations, Australia and the United States included, are witnessing their highest inflation rates in “many years”.

This, he said, is seeing interest rates “rising around the world from the record lows during the pandemic”, adding that officials find themselves in “a complex policy environment”.

ASX 200 shares will need to prepare for higher rates

ASX 200 shares have struggled this year as inflation in Australia, and indeed much of the world, has come in higher than most economists had forecast. And it’s still heating up.

Australian headline inflation came in at 5.1% for the March quarter, well above the RBA’s 2% to 3% target range. Underlying inflation of 3.7% is also the highest level in many years.

“In both headline and underlying terms, inflation is much higher than we had earlier expected,” Lowe said.

The central bank had earlier expected inflation would top out at 6%, but that’s been revised upwards. “We are now expecting inflation to peak at around 7% in the December quarter. Following this, by early next year, we expect that inflation will begin to decline,” Lowe said.

And it’s not just ASX 200 shares that need to be ready for higher rates.

According to Lowe:

As we chart our way back to 2% to 3% inflation, Australians should be prepared for more interest rate increases. The level of interest rates is still very low for an economy with low unemployment and that is experiencing high inflation.

I want to emphasise though that we are not on a pre-set path. How fast we increase interest rates, and how far we need to go, will be guided by the incoming data and the Board’s assessment of the outlook for inflation and the labour market.

Australia’s economic outlook remains strong

Lowe highlighted that the Aussie economy is heading into this period of high inflation and rising interest rates on a strong footing.

While ASX 200 shares are down 14% year-to-date, household spending remains strong, “with spending bouncing back following the Omicron setback,” Lowe said.

Lowe continued:

Household balance sheets are generally in good shape, with households overall having accumulated more than $200 billion in additional savings during the pandemic. Furthermore, the current rate of saving out of income remains materially higher than it was before the pandemic, so there is a degree of flexibility in many household budgets.

It is also relevant that strong employment growth is continuing and that there are many job opportunities at the moment.

The RBA anticipates the recovery in spending on discretionary services, including travel, to continue. This should be good news for beaten-down ASX 200 travel shares.

As for an imminent recession, that doesn’t appear to be on the cards.

“Although GDP growth had slowed in the March quarter, household consumption had been resilient and timely indicators pointed to solid growth in the June quarter,” Lowe said.

“I don’t see a recession on the horizon here,” Lowe added during question time following his speech.

The post ASX 200 shares lift as RBA says recession not on the horizon appeared first on The Motley Fool Australia.

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More reading

• Morgans is urging investors to buy these 2 ASX 200 shares for this challenging environment
• Why is the Premier Investments share price falling today?
• ASX 200 midday update: BHP and Rio Tinto rebound, Westpac rated as a buy
• Why is the Core Lithium share price slipping today?
• Why this top broker sees 50%+ upside to the Boral share price

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

Since its founding in 2015, Ethereum (CRYPTO: ETH) has skyrocketed nearly 153,000% to an all-time high price of $4,892 in November 2021. However, with the overall decline in the cryptocurrency market, the world’s second most valuable digital asset now sells for $1,077 per token as of this writing. 

Reaching $5,000 per token would equate to a 364% return from today, and it would mean a new peak price for this popular cryptocurrency. Let’s discuss why that lofty target is possible, as well as what might get in the way. 

A budding ecosystem of use cases 

As the first programmable blockchain, Ethereum introduced smart contracts to its network, something that Bitcoin doesn’t have. A smart contract is a computer program that runs if certain conditions are met, allowing two unknown parties to interact and transact with each other, all without the need for a trusted intermediary. It was a fundamental breakthrough that resulted in Ethereum now being called the world’s decentralized computer. 

Whereas Bitcoin is solely just a peer-to-peer payments network, Ethereum has actually spawned real-world use cases. Decentralized applications (dApps) are being developed to disrupt a wide range of industries. For example, two popular categories of dApps include decentralized finance (DeFi) protocols and non-fungible tokens (NFTs).                  

In the DeFi world, services like Uniswap, a decentralized exchange for buying and selling crypto, and Compound, a savings and lending platform akin to a traditional bank, were gaining popularity before the recent crash. And although the market for NFTs has cooled significantly, the potential for this technology, particularly when it comes to things like digital authenticity and identity, is huge. 

Unsurprisingly, Ethereum is the most popular blockchain when it comes to these budding use cases. It has the most active developers working on advancing the network, and in the crypto world, that is a key competitive advantage. 

Watch out for competitors 

Investors hoping for Ethereum to hit $5,000 per token must pay attention to so-called “Ethereum killers.” These blockchains, of which Cardano and Solana are included, are trying to improve upon Ethereum’s weaknesses, which center on speed and scalability. 

Like Bitcoin, Ethereum runs a proof-of-work consensus mechanism, which requires massive amounts of computational power in order to solve complex math puzzles to earn the right to validate and add new transactions to the network. Not only is it energy intensive, but it’s slow. Ethereum is only able to process 13 transactions per second today. 

Cardano and Solana run proof-of-stake algorithms. This energy-efficient process allows actual owners of the tokens to stake their holdings and validate transactions. It’s much faster and much better for the environment. 

Luckily for Ethereum, an upgrade is in the works. Formerly known as Ethereum 2.0, The Merge will increase the capacity of the network by adding a new beacon chain to the fold, at which point the entire network will be proof-of-stake. And possibly in 2023, shard chains will be added. This means more blockchains will work in unison with the main Ethereum network, reducing congestion, increasing throughput, and lowering fees. 

While this upgrade has had its fair share of delays, it could finally be here sometime in August. And this would substantially raise developer interest in Ethereum. If speed and scalability are no longer issues, the possibility of a deeper ecosystem of dApps, as well as rising demand for Ethereum, will support a much higher price over time. 

The path to $5,000 per token will definitely be full of ups and downs, but Ethereum has a real shot at getting there if it can integrate the new update in a timely manner, as well as outpace its rival blockchains. 

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

The post Can Ethereum reach $5,000? appeared first on The Motley Fool Australia.

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More reading

• The key driver behind the recovery in Bitcoin, Ethereum, and Solana today
• Ethereum price collapses 35% in a week. Are crypto sharks to blame?
• Why Bitcoin, Ethereum, and Dogecoin dropped and popped in the last 24 hours
• 3 reasons Bitcoin, Ethereum and Solana just hit their lowest levels this year
• Can the upcoming merge save the Ethereum price from further destruction?

Neil Patel has positions in Bitcoin and Ethereum. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Bitcoin, Ethereum, and Solana. The Motley Fool Australia owns and hasv recommended Bitcoin, Ethereum and Solana. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips. 

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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Don’t be fooled into thinking the good times are back with today’s market bounce. But a top broker reckons there are two ASX 200 shares that will do well in this volatile climate.

The S&P/ASX 200 Index (ASX: XJO) is rallying over 1% in midday trading. This marks the first time that the index is gaining ground in the last eight trading sessions!

Given that the headwinds hitting global equity markets are still in play, it is probably too early to call the bounce a turning point.

Two ASX 200 shares to weather the storm

Nonetheless, there are two ASX 200 shares that Morgans has bought more of for its core model portfolio.

Never mind the fact that the outlook for shares is still highly uncertain across capital markets. Investors are still on edge with the faster-than-expected interest rate hikes and geopolitical conflict.

Sentiment has been made worse by the crypto bear market that’s dragging on risk assets here and around the world.

Fundamentals look better than sentiment

Morgans is telling investors not to get too caught up in the negativity.

The broker explained:

We think investors can take comfort that recent volatility looks disconnected from strong corporate fundamentals and a solid outlook for the Australian economy.

Betting on this ASX 200 share

On the back of this belief, Morgans has increased its holdings in Lottery Corporation Ltd (ASX: TLC) in its equities-only model portfolio.

The key objective of this portfolio is to beat the ASX 200 Accumulation Index. It aims to do this with a balance of income (dividend) returns and capital growth.

To that end, the Lottery Corporation ticks the boxes. The company demerged from Tabcorp Holdings Limited (ASX: TAH) last month.

The broker said:

TLC is one of the highest performing lotteries businesses in the world, with long duration and exclusive licences to operate lotteries all over Australia (except for WA).

Filling up on Woodside shares

Another ASX 200 share that Morgans has upped its holdings of is Woodside Energy Group Ltd (ASX: WDS).

Morgans explained:

This was a conscious decision to lift our energy sector exposure, partially as a hedge against the inflationary forces affecting other parts of the portfolio, and because WDS looks abnormally cheap post de-merger.

How cheap is cheap?

Well, the broker noted that the Woodside share price trades at a significant discount to its US peers. It’s also sitting at around a 7% dividend yield.

Even in a rising interest rate environment, that represents a relatively attractive yield.

The post Morgans is urging investors to buy these 2 ASX 200 shares for this challenging environment appeared first on The Motley Fool Australia.

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More reading

• Why is the Premier Investments share price falling today?
• ASX 200 midday update: BHP and Rio Tinto rebound, Westpac rated as a buy
• Why is the Core Lithium share price slipping today?
• Why this top broker sees 50%+ upside to the Boral share price
• 5 things to watch on the ASX 200 on Tuesday

Motley Fool contributor Brendon Lau has positions in Woodside Petroleum Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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ASX 200 coal shares are enjoying huge gains on the market today.

Multiple ASX 200 coal companies, including Whitehaven Coal Ltd (ASX: WHC), New Hope Corporation Limited (ASX: NHC), and Coronado Global Resources Inc (ASX: CRN), are on the rise today. For perspective, the  S&P/ASX 200 Index (ASX: XJO) is also up 1.23% so far today.

Let’s take a look at what could be impacting ASX 200 coal shares today.

European nations revert back to coal

The Whitehaven share price is soaring 6.72% at the time of writing, while New Hope is jumping 7.48% and Coronado is 7.9% higher.

Coal explorers Yancoal Australia Ltd (ASX: YAL) and Allegiance Coal Ltd (ASX: AHQ) are also leaping 6.36%. and 8.42% respectively.

News out of Europe could be impacting coal shares. The Netherlands, Germany, and Austria are all revisiting coal due to an energy crisis sparked by the Russian invasion of Ukraine, France 24 reported.

Commenting on the decision, Dutch climate and energy minister Rob Jetten said:

The cabinet has decided to immediately withdraw the restriction on production for coal-fired power stations from 2002 to 2024.

European countries relying on coal may provide export opportunities for Australian coal companies. Whitehaven, Coronado, New Hope, Yancoal, and Allegiance all export coal around the globe.

The German government indicated it is taking measures to save gas “in view of throttling of gas supplies from Russia”. Economics and Climate Protection Minister Robert Habeck noted the gas market situation had deteriorated in recent days. He added:

In order to reduce gas consumption, less gas is to be used to produce electricity. Instead, coal-fired power plants will have to be used more. 

Share price snapshot

The Whitehaven share price has gained 159% in the past year, while New Hope has soared 85%. Coronado shares have also rocketed 134% in the past year.

For comparison, the benchmark ASX 200 Index has lost 10% in the last 52 weeks.

The post Why are ASX 200 coal shares having such a smoking session today? appeared first on The Motley Fool Australia.

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More reading

• Are these coal miners shaping up to be underrated ASX dividend shares?
• Here are the 3 most heavily traded ASX 200 shares on Monday
• Why is the Whitehaven share price crumbling 6% on Friday?
• 2 energy ASX shares to buy while inflation is killing everything else: expert
• 5 things to watch on the ASX 200 on Thursday

Motley Fool contributor Monica O’Shea has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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At last, it’s a green day for ASX shares so far in this Tuesday’s trading session. At the time of writing, the S&P/ASX 200 Index (ASX: XJO) has gained a healthy 1.12% and is now back over 6,500 points. But no one seems to have told the Premier Investments Limited (ASX: PMV) share price.

Premier Investments shares have fallen steeply today. This ASX 200 retailer and owner of the Smiggle, Peter Alexander, and Just Jeans brands closed at $20.12 a share yesterday but the company’s share price is down a hefty 3.38% so far today at $19.44 a share.

So why are Premier Investments shares defying the market so decisively today?

Why is the Premier Investments share price plunging 3.38% today?

Well, it’s not as bad as you might think. There’s a good reason Premier Investments is falling today. It has to do with this retailer’s next dividend.

Yes, today is the day that Premier Investments is going ex-dividend. The company is set to pay out its interim dividend for FY2022 on 27 July next month. But if an investor wants to see this dividend arrive in their bank accounts, they would have had to own the shares before today.

An ex-dividend date cuts off new investors from receiving a dividend, which means yesterday was the last day new Premier Investments investors could sign up. Since the value of this upcoming dividend is now unavailable, its value has effectively left the Premier Investments share price. That is why we are seeing this company drop by such a solid amount today.

So investors who were on the books before today can now look forward to receiving the company’s interim dividend of 46 cents per share, fully franked, on 27 July.

It’s going to be a fairly lucrative dividend for investors too. The 46 cents per share is a marked increase on last year’s interim dividend of 34 cents per share. It’s also steady on the company’s last final dividend of 46 cents per share that was paid out back in January.

These dividends now give Premier Investments shares a dividend yield of 4.7% on the current share price.

The post Why is the Premier Investments share price falling today? appeared first on The Motley Fool Australia.

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More reading

• ASX 200 midday update: BHP and Rio Tinto rebound, Westpac rated as a buy
• Why is the Core Lithium share price slipping today?
• Why this top broker sees 50%+ upside to the Boral share price
• 5 things to watch on the ASX 200 on Tuesday
• Will Westpac shares really pay a 9.6% dividend yield next year?

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Premier Investments Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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At lunch on Tuesday, the S&P/ASX 200 Index (ASX: XJO) is having a positive day at last. The benchmark index is currently up 1.2% to 6,509.6 points.

Here’s what is happening on the ASX 200 today:

Resources sector rebounds

The resources sector has played a key role in the ASX 200’s strong gain today. The likes of BHP Group Ltd (ASX: BHP) and Rio Tinto Limited (ASX: RIO) are pushing higher and helping to drive the S&P/ASX 200 Resources index 2.5% higher at lunch. This follows a positive night of trade for most base metals.

GrainCorp’s investor day

The GrainCorp Ltd (ASX: GNC) share price is storming higher today. This follows the release of the grain exporter’s investor day event presentation. At the event, the company reaffirmed its FY 2022 full-year operating profit guidance of $590 million to $670 million.

Westpac rated as a buy

The Westpac Banking Corp (ASX: WBC) share price could be good value following recent declines. That’s the view of analysts at Morgan Stanley, which have retained their overweight rating on the banking giant’s shares. And while the broker has cut its price target to $22.30, this still implies plenty of upside over the next 12 months. Westpac is the only big four bank it rates as a buy currently.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Tuesday has been the Paladin Energy Ltd (ASX: PDN) share price with a 7% gain. This is despite there being no news out of uranium producer. Going the other way, the City Chic Collective Ltd (ASX: CCX) share price has been the worst performer with a 3.5% decline on no news. This latest decline means the plus sized fashion retailer’s shares are down almost 70% in 2022.

The post ASX 200 midday update: BHP and Rio Tinto rebound, Westpac rated as a buy appeared first on The Motley Fool Australia.

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More reading

• Why is the Core Lithium share price slipping today?
• Why is the Graincorp share price sprouting on Tuesday?
• Why this top broker sees 50%+ upside to the Boral share price
• 5 things to watch on the ASX 200 on Tuesday
• Why did the Paladin Energy share price tumble 13% on Monday?

Motley Fool contributor James Mickleboro has positions in Westpac Banking Corporation. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Westpac Banking Corporation. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

What happened

It’s perhaps too soon to call today’s rebound in the crypto world sustainable. Indeed, this weekend brought yet another plunge to major cryptocurrencies, with Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) dropping to $17,708 and $896, respectively. For Bitcoin, this was its lowest level since 2020, and for Ethereum, this was the token’s lowest level since early 2021.

However, the story has changed as of 9:30 a.m. ET on Monday. Bitcoin and Ethereum have rebounded 5.5% and 8.7%, respectively, in the past 24 hours. These gains built on the upticks seen yesterday. At the time of writing, these tokens trade for around $20,500 and $1,130 apiece. 

Proof-of-stake blockchain Solana (CRYPTO: SOL) also experienced similar price action. Solana dropped as low as $26.06 this weekend. However, today’s 11.4% 24-hour move (at 9:30 a.m. ET) along with some strong price action yesterday has this token trading above $35, matching its highest level in over two weeks earlier this morning. 

So what

The ongoing fallout from the implosion of Terra (CRYPTO: LUNA) and the more recent collapse of Celsius (CRYPTO: CEL) continue to provide significant headwinds for this sector. Whether algorithmic stablecoins are likely to be a thing of the past is up for debate. However, seeing a centralized exchange such as Celsius fall under the pressure of declining crypto prices is concerning for many investors.

One beacon of light which appears to be buoying top tokens such as Bitcoin, Ethereum, and Solana today is news that Celsius has put forward a recovery plan, and its community is rallying behind this project. This morning, CEL tokens reached their highest levels in more than a month, as investors bank on this recovery plan resulting in a resolution of claims in short order. Experts suggest that claims could be resolved within nine months, saving this exchange from liquidation.

Now what

Bitcoin, Ethereum, and Solana are among the most-traded and most-utilized tokens in the market. The significant declines these top tokens have seen in recent weeks have provided long-term investors with the ability to accumulate at much more attractive prices. We’ve seen some indication of mass retail buying of Bitcoin, for example, with a reported 13,000 new holders of a whole Bitcoin (“whole Bitcoiners”) materializing over the past week. 

That said, it’s also true that the downside pressure on the crypto sector from macro forces appears unrelenting. This has been the worst quarter ever for the crypto sector, which really says something, given the gravity of previous declines. Perhaps we’re not out of the woods yet.

Indeed, concerns around the potential for a recession are pertinent. The Federal Reserve is hiking rates at its fastest rate in nearly two decades, and as more outsized rate hikes materialize, liquidity will continue to be drained from the system. For most cryptos, which have been the beneficiaries of the incredibly cheap liquidity that’s been pumped into the market, this is a tough time to suggest the next bull run is right around the corner.

That said, 2022 will likely shape up to be a year where fortunes are made or lost. Depending on one’s view on the sector (and time horizon), I think both are possible, given the volatility we’ve seen of late. 

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

The post The key driver behind the recovery in Bitcoin, Ethereum, and Solana today appeared first on The Motley Fool Australia.

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Chris MacDonald has positions in Ethereum and Solana. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Bitcoin, Ethereum, and Solana. The Motley Fool Australia owns and has recommended Bitcoin, Ethereum, Solana and Terra. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips. 

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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The Core Lithium Ltd (ASX: CXO) share price is edging lower today amid a positive announcement from the company.

At the time of writing, Core Lithium shares are down 0.47% to $1.07 each.

In contrast, the S&P/ASX 200 Index (ASX: XJO) is recovering lost ground after consecutive falls, up 1.1% to 6,504 points.

Core Lithium advances Finniss Lithium Project

Investors are bidding up the Core Lithium share price after the company provided an update on its wholly-owned Finniss Lithium Project in the Northern Territory.

According to its release, Core Lithium advised that mining rates have accelerated at the Grants Stage 1 open pit. This is due to the arrival of the dry season and the commissioning of an additional excavator and trucks to the site.

Previously, the Grants open pit was affected by higher-than-average rainfall and an extended wet season. Ultimately, this led to an increase in fuel consumption for its trucks as well as delays in open-pit mining.

Now crushing contractor CSI Mining Services (CSI) has begun mobilisation to the site as planned.

The company’s Dense Media Separation (DMS) plant has been handed over to Primero which has commenced construction activities. The structural steel is being imported from China and is now, along with all DMS components, being shipped to Australia.

Core Lithium also noted it has completed the Finniss site administration and IT complex. This will allow staff to relocate from their temporary facilities to the site-based administration building.

Finally, the company received initial environmental approval for its BP33 mine and submitted the BP33 Mining Management Plan (MMP).

Despite being a two-stage process, it’s anticipated the Northern Territory government will give approval during the September 2022 quarter.

The Finniss project is on track for its first production of spodumene concentrate by the end of the 2022 calendar year.

Management commentary

Core Lithium chair Greg English said:

The Finniss project is progressing well with Lucas, CSI and Primero all on site. Practical completion of the new administration and IT complex will allow staff to spend more time at the operation and should lead to productivity improvements in simply reducing travel time alone.

The submission of the BP33 Underground Mine MMP was a great achievement with formal approval anticipated from the NT Government in the coming months.

Core Lithium share price summary

Regardless of tumbling 17% in the past month, the Core Lithium share price has surged by 83% in 2022.

When looking further back, its shares are up an astonishing 369% over the last 12 months.

Based on today’s price, Core Lithium has a market capitalisation of approximately $1.87 billion.

The post Why is the Core Lithium share price slipping today? appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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