In today’s briefing:
- PureTech Health (PRTC LN): Possible Combination with Nektar Is Just a Defensive Move
- Open Interest Hits All Time High
- The Commodity Report #72
- Sporting Crypto – October 10th 2022: The Next Frontier of Sport NFTs
PureTech Health (PRTC LN): Possible Combination with Nektar Is Just a Defensive Move
- PureTech Health (PRTC LN) has confirmed its possible merger with Nektar Therapeutics (NKTR US). Uncertainty regarding the actual offer has caused volatility to PureTech shares.
- Nektar will be required, by not later than November 3, 2022, to announce a firm intention to make an offer for the company.
- Nektar faced a big setback in its lead pipeline assets and is going through tight financial condition. We are not expecting a lucrative takeover offer for PureTech.
Open Interest Hits All Time High
- Price Movements: BNB, the native token of Binance Smart Chain, is down 8% following a $100mn hack.
- Market Liquidity: Sushiswap’s market share vs. Uniswap hit all time lows of just 1% in September as new Head Chef takes over.
- Derivatives: Open interest on Binance has surged to all time highs, although funding rates remain firmly neutral.
The Commodity Report #72
- The group announced to cut its output limits of as much as 2 million barrels a day, using current targets as a starting point.
- While a significant reduction, the impact on global supply will be much smaller because several countries are already pumping below their quotas.
- Most analysts expect that the real supply cut will be around 700 to 800 bpd.
Sporting Crypto – October 10th 2022: The Next Frontier of Sport NFTs
- By now you’ve heard of NFTs. I mean, if you’re reading this newsletter and you haven’t — you’ve taken a wrong turn on the internet.
- NFTs (Non-Fungible Tokens) have gripped millions of people worldwide and had countless journalists, marketing execs and boardroom members scratching their head with the thought.
- So let’s start with why NFTs, as a technology, need to be built using a blockchain.
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