Knockout Stage Matches
Week 2 | Day 1
21st November 2022
Litecoin vs. Cosmos
Today’s Score 1:0
Total Score 1:0
It’s the second week of the knockout stage, and we’re more thrilled than ever!
Litecoin defeated team Cosmos in the first round and is in high spirits.
It is no secret that Litecoin’s continued strength in recent days has seen the team become the 15th largest crypto by market cap, unseating Solana from the spot.
As the crypto club faced a miserable couple of weeks, due to the crash triggered by FTX collapse- most of the teams have had it pretty hard.
Litecoin, however, has been different. While the initial plunge did affect LTC as well, the crypto has made a much better recovery than the other top cryptos.
During the crash, LTC’s price dropped down to as low as less than $50 (from a peak higher than $70 before the plummet), but the crypto has already retraced back above $60. In terms of the weekly profits, LTC has jumped by almost 9%, which is again much better than the majority of the market.
The results of today’s round personifies this truly amazing performance by the team Litecoin.
Alas, team Cosmos must try very hard this week if they want to have a real game!
Bank Rakyat Indonesia vs. Barclays
Today’s Score 0:1
Total Score 0:1
Barclays continue their streak of winning in the second week of the knockout stage as well.
After winning from the round of 32, the team looks brighter than usual as it started this week with a dominating score.
Team Barclays Bank has had a wonderfully unexpressed third quarter, after which its performance has been improving even more. Despite a continued drag from a costly U.S. trading error, the team reported an unexpected rise in third-quarter earnings on the back of strong trading revenues this year.
Is everything as good as it appears? Team Barclays has been mostly notable over the past few years for the number of scandals and administrative mishaps that have plagued the bank and its long-suffering shareholders. Moreover, the uncertain economic backdrop is most likely to dampen the team’s performance in the future.
Will it be able to make it through this week? We’ll soon see!
Bank of China vs. ICBC
Today’s Score 0:1
Total Score 0:1
The Chinese financial sector, especially the banking industry, has been on a precipitous climb that will continue well into 2023.
Two Chinese banking teams, ICBC and Bank of China have reached the second week of the knockout stage and are up for a thrilling match. The first round was won by team ICBC, awarding the opponents with a big zero.
Challenging market conditions that have been impacting corporate clients from all over the world have also been testing the banks ability to manage credit risk and protect earnings growth. But, team ICBC has proven to be resilient in this part.
ICBC’s hands-on approach to risk control includes training staff and strengthening links between its middle and back offices. This mechanism focuses on heightening staff responsibility, monitoring and evaluating client risks in various industries and forming risk mitigation proposals.
As a result, ICBC’s corporate loan asset quality has improved: Despite a challenging economic climate, the bank’s balance of non performing corporate loans has declined. This is the reason why it was named as one of the Stars Of China by an expert.
However, all eyes are on the next two-three rounds. Will ICBC be able to dominate the Bank of China consecutively? Or not.
Stay tuned to find out!