With the recent firing of BLS Commissioner Erika McEntarfer, ADP’s employment data has taken on increased importance in gauging labor market strength. Although ADP gets a lot of flack since it comes out before NFP and thus has little predictive power, on a longer-term horizon the two actually track quite nicely:
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In the real world, retail, e-commerce, payments, logistics, and consumer credit are often described as five parallel highways. While they occasionally intersect, they often operate at high speed on their own separate tracks. Walmart and Amazon compete for user access at the front end, Visa and Mastercard control global clearing, UPS, SF Express, and FedEx compete on timeliness and cost in fulfillment, and credit services like Klarna and Affirm collect bills only after purchases are made.
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Perhaps due to the delayed upgrade date, Pre-BRC 2.0 asset market value has overall declined. The first BRC 2.0 concept NFT Adderrels currently has a floor price of 0.0076 BTC (about $900), down 60% from its peak. However, the Adderrels project continues to operate, updating details on staking NFTs to receive token airdrops, which will be distributed over three seasons, releasing 8%, 9%, and 10% of total supply respectively, with the first season's token airdrop to be distributed on September 2 during the BRC 2.0 launch. Another project claiming to be the first Pre-BRC 2.0 token minted on Ordinals, LIQUID, has moved to community CTO. Previously, the original LIQUID project team intended to sell the entire project, causing panic. Currently, LIQUID's price is 0.00006 BTC, close to its minting cost.
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