Markets

LVMH CEO and Chairman Bernard Arnault says that the company showed exceptional resilience to the serious crisis the world suffered in the first half of 2020.After the market closed on the 27th of July, LVMH Moët Hennessy Louis Vuitton revealed its financial results for the first half of 2020. The persisting coronavirus pandemic affected LVMH, causing losses in the year’s first half results. The French multinational corporation reported revenue of 18.4 billion euros, a 27% decline over the...

XRP saw a small 2.67% increase today as it pushed above $0.22. The coin is now trading above the June 2020 high as it faces resistance at $0.225. Against Bitcoin, XRP is trying to push higher but is struggling with resistance at 2200 SAT. XRP/USD – XRP Bulls Push To 2-Month Highs Key Support Levels: $0.215, $0.21, $0.20.Key Resistance Levels:$0.225, $0.235, $0.24. XRP managed to push back above the $0.2 resistance last week and has been climbing higher ever since. The coin pushed above the...

The Taiwan-listed shares of Taiwan Semiconductor Manufacturing (TSMC) after U.S.-based chipmaker Intel confirmed that it is going to postpone the release of its next-generation chips.On July 27, the Taiwan-listed stock of Taiwan Semiconductor Manufacturing Co Ltd (TPE: 2330) rallied. The TSMC stock rally happened after U.S.-based chipmaker Intel Corporation (NASDAQ: INTC) confirmed that it is facing delays for its next-generation chips. Intel said that it might have to outsource some of the...

Bitcoin’s price took a turn for the best over the past couple of days as it breached the coveted $10,000 mark in today’s early hours.  Naturally, this brought a lot of excitement in the cryptocurrency community, and a definitive testament of this is the reaction of Arthur Hayes – the CEO of one of the leading Bitcoin margin trading exchanges, BitMEX.  “It’s A F***** Bull Market” Arthur Hayes, the CEO at BitMEX, is known for his eccentric behavior and witty comments. More than once has he...

Crypto asset markets have been on fire over the weekend with a surge of $17 billion, or just under 6%, since Saturday morning. The move has lifted total market capitalization to its highest level since mid-February, and the first time it has been over $300 billion for five months. Cryptocurrency Market Capitalization YTD. Source: CoinMarketCapFollowing a largely flat year in 2019, crypto markets recovered to a high of $308 billion by mid-February this year. A pullback occurred in the...

Bitcoin started gaining momentum yesterday and saw its price increase above the coveted $10,000 mark. At the same time, gold continued its recent surge by marking a fresh all-time high. Some altcoins retraced heavily in the past 24 hours, helping Bitcoin’s dominance reclaim some lost ground. Bitcoin Stands Above $10k After weeks of trading within a confined range between $9,000 and $9,300, Bitcoin has finally woken up. The past couple of days are particularly action-packed. Yesterday, in a...

Stellar lumen price climbed above the $0.1000 resistance level against the US Dollar.XLM price struggled to extend gains above $0.1100 and started trading in a broad range.There is a key bullish trend line forming with support near $0.0970 on the 4-hours chart (data feed via Kraken).The pair could extend its decline towards the $0.0870 support if it settles below $0.0950.Stellar lumen price is struggling to follow bitcoin’s rally against the US Dollar. XLM price must settle above $0.1000 and...

Ripple price rallied recently after a successful close above $0.2000 against the US dollar.The price tested the $0.2250 resistance zone and recently corrected lower.There is a crucial bullish trend line forming with support near $0.2140 on the 4-hours chart of the XRP/USD pair (data source from Bittrex).The pair is likely to resume its upward move as long as it is above $0.2140 and $0.2120.Ripple price is trading in a nice uptrend above $0.2000 and $0.2120 against the US Dollar. XRP price...

Bitcoin used to show a higher correlation to the stock markets, especially amid the lowest point of the pandemic. However, it has taken a different route during the last few days.Bitcoin-S&P 500 Correlation Departs from ATHTypically, Bitcoin is regarded as an independent asset that often acts as a safe haven. Its fundamentals are different from those driving the stock market. Nevertheless, the oldest cryptocurrency was caught following the American flagship index known as the S&P 500...

The price of Ethereum has been surging over the past few days largely due to the recent price jumps experienced by bitcoin, the world’s leading cryptocurrency by market cap. However, the Ethereum jump can also potentially be traced to a recent announcement made by payment processing company Visa that it would put much of its focus towards stable currencies in the coming months.Visa Is Making Stable Coins MainstreamEthereum is the world’s second-largest cryptocurrency by market cap after...