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Bitcoin bounces back

The crypto markets appear calm heading into the weekend after a volatile week that tested how institutional investors new to the crypto trade would react to the mammoth swings that are old hat for more seasoned digital currency investors.

The sell-off in bitcoin and ether began earlier this week and wiped out $367 billion in value just as markets in Japan were nosediving. But it turns out, these newbie crypto traders were down to buy the dip.

Spot ether exchange-traded funds collectively saw net inflows of around $120 million this week, with most traders buying in on Monday and Tuesday when the world’s second-largest cryptocurrency was down 42% from its March price high of more than $4,000.

Though net flows for the spot bitcoin ETFs are negative since Monday, data from crypto analytics firm CoinGlass shows demand began to reaccelerate midweek, with the batch of spot funds adding more than $245 million on Wednesday and Thursday.

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Bitcoin and Ether, 1 month

Hundreds of millions of dollars began flowing into the spot bitcoin ETFs on the same day Morgan Stanley gave the green light to its 15,000 financial advisors to start pitching clients with a net worth north of $1.5 million on the funds issued by BlackRock and Fidelity.

The bank, which is one of the world’s largest wealth management firms, is the first among the big players on Wall Street to take this step. Up to this point, wealth management businesses have only facilitated trades if customers specifically requested exposure to these new spot crypto funds.

Of Morgan Stanley’s $1.5 trillion in assets under management, the bank disclosed in a May 13F filing that it held around $270 million in spot bitcoin ETFs. The next filing deadline on Wednesday will offer the latest read on how much exposure banks and hedge funds now have to these spot crypto products.

The expectation is that other wirehouses and asset managers, who have been on the sidelines performing in-house due diligence on spot crypto ETFs, might feel the pressure to soon follow Morgan Stanley’s lead.

The spot ether ETFs, which launched less than three weeks ago, have seen relatively tepid flows compared to the blockbuster launch of spot bitcoin ETFs in January. The bitcoin funds collectively hold $54.30 billion in assets under management, versus $7.25 billion across the spot ether funds.

Crypto plunges amid broader market sell-off

Moving in lockstep with U.S. stocks

The crypto market traded in lockstep with U.S. equities most of the week.

The market cap of all tokens has gained back hundreds of billions of dollars since Monday and is now above $2.1 trillion.

Bitcoin hit an intraday high of nearly $63,000 on Friday, and ether was trading above $2,700 earlier.

More than $100 million in short bets on bitcoin was liquidated in the past 24 hours, helping to support bitcoin’s gains.

Though bitcoin and ether are considerably higher than the intraday lows of Monday, both assets are still down over the past seven days, with ether on pace for its worst week in nearly two years.

Ripple's chief legal officer lays out what's next after its $125 million penalty in SEC case

It is a similar story with some of the crypto-aligned stocks. Coinbase, MicroStrategy and bitcoin miner Riot Platforms shares posted third straight weekly losses.

Crypto price moves this week have laid bare just how much digital assets continue to track U.S. stocks and how they tend to respond to the same macro triggers.

Earlier this week, the unwinding of the yen carry trade contributed to the turmoil that wracked global markets, and then on Thursday, fresh data on jobless claims came in lower than expected, helping to allay recession fears. The S&P 500 notched its best day in almost two years on Thursday, and the crypto market came roaring back.

It also helps that regulatory winds appear to be shifting.

Yet, another U.S. judge has sided with the crypto industry in a legal battle against the U.S. Securities and Exchange Commission.

District Judge Analisa Torres ordered Ripple to pay $125 million in civil penalties, which was substantially less than the $2 billion the SEC was after. Ripple’s XRP token surged 22% on Thursday on the news.

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It floats, it flies, it works: World’s first hydrofoil electric ferry is crushing it

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It floats, it flies, it works: World's first hydrofoil electric ferry is crushing it

It flies, it floats, it’s electric — and now it’s officially a hit. The world’s first electric hydrofoil ferry, a Candela P-12 vessel named Nova, has wrapped up its first season of public service in Stockholm, and new data confirms what many suspected: this sleek, silent, water-skimming machine isn’t just a cool piece of tech — it’s also wildly successful.

The Nova, which first entered Stockholm’s public transport system last fall, uses a combination of electric propulsion and hydrofoil technology to quite literally lift above the water. This reduces drag, increases efficiency, and makes it the fastest electric passenger vessel in the world, cruising comfortably at 25 knots (around 29 mph or 46 km/h).

As it prepares to return to the water on April 15 after a winter pause, Stockholm’s public transport authority has released performance data from Nova’s autumn run. The numbers reveal that the boat isn’t just fast — it’s popular, green, and pulling people out of their cars.

Compared to the diesel ferries it operates alongside, Nova emits 95% less CO₂ and uses 84% less energy per passenger-kilometer. That translates to just 23 grams of CO₂ per passenger-kilometer, compared to 439 grams for the older diesel vessels. In other words, it’s a drop in a bucket compared to the old standard.

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It’s not just an environmental win — it’s a rider favorite too. With 80% average occupancy (and many trips fully booked), Nova has become quite literally one of the hottest tickets on Stockholm’s Route 89. Some of that success may come from its 30-minute travel time between Tappström and Stockholm City Hall — roughly half the time it takes to get there by car or bus.

The numbers are clear with the data revealing that Nova attracts more people to travel on water, with a 30% increase in ridership on route 89. According to Candela CEO Gustav Hasselskog, this shows that high-speed, comfortable waterborne transit can actually convert car commuters into ferry riders — a holy grail for sustainable city planning.

In response to the strong demand, Region Stockholm will expand Nova’s service from five to six days a week this spring, and to daily operations by May. In August, the pilot program will be evaluated — and Candela is already eyeing more routes across Stockholm’s vast archipelago.

The P-12’s combination of speed, silence, and ultra-low operating costs makes it ideal for routes with moderate passenger volume — a gap that many traditional ferries struggle to serve efficiently.

Candela isn’t stopping in Sweden, either. The company already has customers lined up in Saudi Arabia, New Zealand, and the U.S., suggesting that this may be just the beginning of the era of flying electric ferries.

“We are incredibly happy that Region Stockholm has enabled us to demonstrate the hydrofoil technology in the city’s public transport. We see that waterways in most cities have enormous potential for fast, low-cost, and emission-free transport that can relieve road networks and increase accessibility,” said Hasselskog. “This is just the beginning.”

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Candela C-8 electric speedboat sails alongside a Candela P-12 electric ferry

Electrek’s Take

I’ve followed Candela with such interest over the years not just because of their fun electric speedboats (though I love those too, as you can tell from my first ride video below), but also because of the company’s ability to help take more cars off the road and switch commuters to ferry riders.

As someone who lives a largely car-free lifestyle, that’s huge for me. When we talk about reforming urban transportation, such lofty goals require a holistic approach and we should include a diverse field of options that can work together to achieve those intentions. Flying electric boats might not be most people’s first thought, but they achieve the same goal as many other alternatives, shifting commuters to more sustainable alternatives to cars.

We’ve already seen how capable electric hydrofoil ferries like these are, even watching the Candela P-12 tackle large swells in open seas. So short commutes like these that allow rapid recharging via DC Fast Charging at each stop make so much sense for such a capable machine.

Even when compared to traditional electric ferries, which are already an improvement by reducing emissions, electric hydrofoil ferries like these go so much further. They not only use even less energy than a traditional electric ferry, but they offer a faster trip and a smoother ride, making the idea of ferry travel that much more enticing. In this case seen in Stockholm, commuters get to arrive faster, more comfortably, and in a pretty cool way. That’s a win-win-win if you ask me!

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World surges past 40% clean power in record renewables boom

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World surges past 40% clean power in record renewables boom

Renewables and nuclear provided 40.9% of the world’s power generation in 2024, passing the 40% mark for the first time since the 1940s, according to a new global energy think tank Ember report. 

Renewables added a record 858 TWh in 2024, 49% more than the previous high in 2022. Solar was the largest contributor for the third year running, adding 474 TWh to reach a share of 6.9%. Solar was the fastest-growing power source (+29%) for the 20th year in a row. 

Solar has doubled in just three years, providing more than 2,000 TWh of electricity in 2024. Wind generation also grew to 8.1% of global electricity, while hydro – the single largest renewable source – remained steady at 14% of global electricity.

“Solar power has become the engine of the global energy transition,” said Phil MacDonald, Ember’s managing director. “Paired with battery storage, solar is set to be an unstoppable force. As the fastest-growing and largest source of new electricity, it is critical in meeting the world’s ever-increasing demand for electricity.”

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Ember’s sixth annual Global Electricity Review, published today, provides the first comprehensive overview of the global power system in 2024 based on country-level data. It’s published alongside the world’s first open dataset on electricity generation in 2024, covering 88 countries that account for 93% of global electricity demand, as well as historical data for 215 countries.

What drove the rising power demand

The analysis finds that fossil fuels also saw a small 1.4% increase in 2024 due to surging electricity demand, pushing global power sector emissions up 1.6% to an all-time high.

Heatwaves were the main driver of the rise in fossil generation, accounting for almost a fifth (+0.7%) of the increase in global electricity demand in 2024 (+4.0%), mainly through additional use of cooling. Without these temperature effects, fossil fuel generation would have risen by only 0.2%, as clean electricity generation met 96% of the demand growth not caused by hotter temperatures.

“Amid the noise, it’s essential to focus on the real signal,” continued MacDonald. “Hotter weather drove the fossil generation increase in 2024, but we’re very unlikely to see a similar jump in 2025.”

Aside from weather effects, the increasing use of electricity for AI, data centers, EVs, and heat pumps is already contributing to global demand growth. Combined, the growing use of these technologies accounted for a 0.7% increase in global electricity demand in 2024, double what they contributed five years ago. 

Clean power will grow faster than demand

Ember’s report shows that clean generation growth is set to outpace faster-rising demand in the coming years, marking the start of a permanent decline in fossil fuel generation. The current expected growth in clean generation would be sufficient to meet a demand increase of 4.1% per year to 2030, which is above expectations for demand growth. 

“The world is watching how technologies like AI and EVs will drive electricity demand,” said MacDonald. “It’s clear that booming solar and wind are comfortably set to deliver, and those expecting fossil fuel generation to keep rising will be disappointed.”

Beyond emerging technologies, the growth trajectories of the world’s largest emerging economies will play a crucial role in defining the global outlook. More than half of the increase in solar generation in 2024 was in China, with its clean generation growth meeting 81% of its demand increase in 2024. India’s solar capacity additions in 2024 doubled compared to 2023. These two countries are at the forefront of the drive to clean power and will help tip the balance toward a decline in fossil generation at a global level.

Professor Xunpeng Shi, president of the International Society for Energy Transition Studies (ISETS), said: “The future of the global power system is being shaped in Asia, with China and India at the heart of the energy transition. Their increasing reliance on renewables to power demand growth marks a shift that will redefine the global power sector and accelerate the decline of fossil fuels.”

Read more: Made-in-America solar just got a big win in Louisiana


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Nissan’s new LEAF EV was caught at a Tesla Supercharger in Canada

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Nissan's new LEAF EV was caught at a Tesla Supercharger in Canada

The next-gen LEAF is almost here, and it’s looking better than ever. This isn’t the electric hatch you are used to seeing. Nissan’s new LEAF EV has more range, a fresh crossover design, and yes, it can finally charge up at Tesla Superchargers with an NACS port. With the official reveal just around the corner, someone already spotted the new LEAF at a Tesla charger in Canada.

Nissan is launching the new LEAF in the US and Canada

A little over a week ago, we finally got our first look at the third-generation LEAF. Nissan’s iconic electric hatch has grown into a “sleek and spacious family-friendly crossover.”

The US and Canada will be the first to see the reimagined LEAF later this year. It will join the Ariya in Nissan’s North American EV lineup as it looks to spark growth in one of its most important markets.

Based on the CMF-EV platform, the same one underpinning the Ariya, Nissan promises the new LEAF will have “significant range improvements.” Although no other details were revealed, Nissan’s vehicle programs chief, Francois Bailly, told TopGear.com that it’s expected to have WLTP driving range of up to 373 miles (600 km).

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It will likely be lower on the EPA scale, but anything even close to 300 miles would be a major improvement over the current 212 EPA-estimated miles offered on the 2025 LEAF SV Plus.

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Nissan’s new LEAF EV (Source: Nissan)

The next-gen LEAF will also be Nissan’s first EV to feature an integrated NACS charging port. With its official debut later this year, the new model is out for testing and was just caught testing at a Tesla Supercharger in Canada.

Nissan’s next-gen LEAF charging at a Tesla Supercharger in Canada ahead of its debut (Source: KindelAuto)

If you didn’t know what vehicle it is, the LEAF is hardly recognizable. The new image from KindelAuto gives us a closer look at the new crossover design. It almost looks like a Tesla sitting in front of the charger.

The new LEAF is one of 10 new and refreshed Nissan vehicles set to launch in the US and Canada. It will arrive later this year, followed by the fourth-gen Rogue in 2026, which will be available as a PHEV for the first time.

Nissan-new-LEAF-EV
Nissan’s upcoming lineup for the US, including the new LEAF EV and “Adventure Focused” SUV (Source: Nissan)

Nissan also plans to build a new “adventure-focused SUV” at its Canton, Mississippi, plant in late 2027. The teaser shows what appears to be a rugged electric Xterra. We’ll have to wait for more details on that one.

Nissan will reveal additional info about the upcoming LEAF mid-year. Check back soon for more updates.

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