Global stocks saw a boost in sentiment on Monday following the resumption of trade talks between the U.S. and China. The Dow Jones has remained stable in the 26,700-point region throughout the past week, and the SSE Composite, a stock market index of all stocks that are traded at the Shanghai Stock Exchange, surged by more than two percent within hours to close at 3,044. Fed Won't Spoil the Stock...
On June 30, according to a cryptocurrency trader, a single investor on Bitfinex placed a 20,000 BTC short order, betting more than $200 million that the bitcoin price would go down in the near term. Overnight, the bitcoin price fell from $11,900 to $10,765 as the valuation of the crypto market dropped by well over $20 billion within a span of hours. Unexpected drop, is a swift recovery for...
As the U.S. and China resume trade talks following the highly anticipated G20 summit, the Dow Jones and the rest of the U.S. equities market have shown strong recovery. In the past 30 days, the Dow Jones has rebounded from 24,819 points to 26,599 points, recording its best June in 81 years. The U.S. has paused the imposition of additional sanctions on Chinese goods and China is set to begin...
In its latest report entitled “Five Facts on Fintech,” the International Monetary Fund (IMF) said that based on its research, countries generally foresee the emergence of crypto assets backed by central banks. The study, which surveyed central banks, finance ministries, and other government agencies in 189 countries, explicitly stated that central bank-backed crypto assets are likely to emerge...
According to Charlie Bilello, an investor and a finance researcher, Ethereum is being traded with substantial premiums above spot value through Grayscale's Ethereum Investment Trust (ETHE). Grayscale's Ethereum Trust started trading last week. These are the premiums investors have paid above the net asset value of the Ethereum holdings...June 20: 1,059%June 21: 2,022%June 24: 347%June 25:...
In the past 24 hours, the valuation of the crypto market has dropped from $386 billion to $328 billion as the bitcoin price declined from $13,800 to $10,500. The bitcoin price dropped by 23.9 percent overnight as it neared the $14,000 mark which traders have acknowledged as a heavy resistance level for the dominant crypto asset. The abrupt decline in the price of bitcoin is widely considered to...