Markets

The new developments come after a court-mandated phased liquidation process, enabling FTX to sell digital assets worth a total of $3 billion on a weekly basis.  A flurry of activity in the crypto space last night grabbed the attention of industry watchers as the wallets associated with bankrupt crypto exchange FTX and its sister company Alameda Research transferred around $13.1 million in various digital assets to multiple exchanges overnight. Data from Spotonchain revealed that the...

The creator of the second largest stablecoin USDC with a market cap of about $24.7 billion announced that it will support only business institutional accounts. In a strategic move to review its relations with customers, Circle, a leading and regulated stablecoin issuer, informed its individual account holders that they will not be serviced by the end of this month. Circle wrote an email to its individual customers informing them to redeem their coins before November 30, as only...

The AWS Blockchain Node Runners has so far integrated Ethereum (ETH) and Solana (SOL), thus making it a major step for the latter to become a Web 3.0 hub that supports scalable smart contracts. Solana (SOL), a leading smart contract blockchain with a smartphone in the market dubbed Saga mobile, has announced that infrastructure nodes are now available on the Amazon Web Services (AWS) Blockchain Node Runners repository for easy access by Web 3.0 developers. The Solana team announced the...

Solana price started a strong increase above the $30.00 resistance against the US Dollar. The price is now trading above $35 and the 55 simple moving average (4 hours). There is a connecting bullish trend line forming with support near $35.75 on the 4-hour chart of the SOL/USD pair (data feed from Coinbase). The pair must clear $38.00 and $38.80 to continue higher in the near term. Solana price is trading in a positive zone above $35 against the US Dollar, like...

Bitcoin price started a consolidation phase below the $35,000 zone against the US Dollar. The price is now trading above $34,000 and the 55 simple moving average (4 hours). There is a key bullish trend line forming with support near $33,800 on the 4-hour chart of the BTC/USD pair (data feed from Coinbase). The pair could continue to rise if it stays above the $33,120 support zone. Bitcoin price is showing positive signs above $33,120 against the US Dollar. BTC...

Markets are turning away from bonds and into assets like Bitcoin (BTC) as “safe haven” stores of value as global war conflicts heat up, an Allianz Economist told CNBC in an interview last week. The analyst for the $2 trillion financial services firm explained why the Treasury market has been so volatile this month, and why he believes a recession awaits the United States in early 2024. Explaining The Treasury Selloff According to Allianz chief economic advisor Mohamed...

Cryptocurrency exchange Bitfinex has released a report relaying its belief that the digital asset market may be in the early stages of a bull run. According to the latest edition of the Bitfinex Alpha report, several dynamics like bitcoin’s (BTC) ascent to the $35,000 price range and increasing institutional interest in the leading digital asset show that the market is gearing up for a bull phase. Bitcoin’s Surge and Large Liquidations Bitcoin’s surge to the $35,000 range on...

By Shayan Bitcoin’s recent market shifting indicates a strong presence of buyers, signaling a potential bullish trend. However, given the rapid surge in price within a short period and the approach to a significant resistance area, a temporary correction phase in the market seems likely. The Daily Chart Upon examining the daily chart, Bitcoin has been on a noticeable uptrend since the start of 2023, pushing in an ascending channel pattern with higher highs and lows. This...

According to a recent Coinbase research, the tokenization of financial assets has been steadily gaining momentum since 2017, bringing the evolution of digital financial assets, including sovereign bonds, money market funds, and repurchase agreements. As per the report, the growth has been dramatically buoyed by the existing high-yield environments but still faces huge infrastructural and legal obstacles. Tokenization Market Primed for Growth The report says in part: “We...

Investors will be eyeing major announcements ahead this week such as jobs report, Federal Reserve rate decision, and Apple’s earnings.  On Monday, October 30, the Dow Jones Industrial Average (INDEXDJX: .DJI) gained by over 511 points or 1.58%, ending the trading at 32,928.96. This was the biggest single-day gain market by the index, after June 2023. The S&P 500 saw a robust 1.2% surge, reaching 4,166.82, marking its most substantial gain since late August. Simultaneously, the Nasdaq...