Markets

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[PRESS RELEASE – Mahe, Seychelles, May 4th, 2023] BitMEX, a leading cryptocurrency derivatives exchange, today announced the listing of two new perpetual contracts, PEPE and SUI. BitMEX is proud to be the first derivatives exchange to list SUI Perpetuals Contracts and the second to list PEPE Perpetuals Contracts. The recent meteoric rise of PEPE has raised concerns about liquidity for its holders. The token’s market capitalization surged to $137 million in less than a week....

In 2022, the Big Oil companies, including TotalEnergies, ExxonMobil, Chevron, BP, and Shell smashed their previous year’s earnings. The Q1 2023 fiscal report by the British oil giant Shell (LON: SHEL) surpassed expectations, cruising analysts’ predictions. In the recent report, Shell announced adjusted earnings of $9.6 billion for the first three months of the year. The performance is in continuation of its current bumper results run after commodity prices surged in 2022 due to Russia’s...

Los Angeles-based PacWest is considering several strategic options, including a sale, amid a banking crisis-induced stock plunge. Bank holding company PacWest Bancorp is reportedly mulling a sale following Wednesday’s 50% stock crash. The regional bank is weighing strategic options amid the US banking crisis, which sank three financial institutions in March. A Bloomberg report said PacWest shelved previous efforts to raise capital to remain afloat and now strongly considers selling all...

Despite regaining much of its losses, there are reasons to believe that the coast is not yet clear for PEPE. The new meme token PEPE coin recently enjoyed a spell of fortune after its price surged by more than 2000% shortly after launching a few weeks ago. However, it appears that it has now lost momentum and risks losing large portions of those earlier gains. On Wednesday, PEPE entered a sharp correction that saw it lose over 35% of its record high value of $0.00000138, which it attained...

Amid the unfolding banking crisis and interest rate hikes, Bitcoin has been showing strong resilience attempting another breakout above $30,000. On Wednesday, May 3, the US Federal Reserve announced another 25 basis points rate hike taking the US funds rate to more than 5% for the first time since 2007. In hours after the Fed announced the rate hike, Bitcoin (BTC) made a quick surge of more than 2% taking the price above $29,000. This Bitcoin price surge amid the recovery in the broader...

The reason behind the exchange’s decision is not clear. According to those familiar with the matter, closing the service is not linked to the scrutiny from SEC which has alleged that Coinbase was offering and trading unregistered securities, thereby violating federal securities laws.  Crypto exchange Coinbase Inc (NASDAQ: COIN) has announced its decision to stop issuing loans through its Coinbase Borrow service where Bitcoin (BTC) has been serving as collateral. Starting from May 10,...

EOS price is trading in a bearish zone above the $0.98 support against the US Dollar. The price is now trading below $1.05 and the 55 simple moving average (4 hours). There was a break above a major bearish trend line with resistance near $1.015 on the 4-hour chart of the EOS/USD pair (data feed from Coinbase). The pair could start a recovery wave if it clears the $1.05 and $1.08 resistance levels. EOS price is struggling below $1.08 against the US Dollar, unlike...

Litecoin settled below the $90 resistance zone against the US Dollar. LTC price is now trading below $90 and the 55 simple moving average (4 hours). There is a major contracting triangle forming with resistance near $89.20 on the 4-hour chart of the LTC/USD pair (data feed from Coinbase). The pair could start a decent increase if it clears the $92 resistance zone. Litecoin price is struggling below $90 against the US Dollar, similar to Bitcoin. LTC price could continue...

Europol announced on May 3 the conclusion of Operation SpecTor, which spans through multiple jurisdictions and recently brought down Monopoly Market, another dark market that sprang up after previous ones were hated. Hundreds of Arrests and Seizures According to a press release published early this morning, Europol coordinated authorities across the U.S., Austria, France, Germany, the Netherlands, Poland, Brazil, Switzerland, and the U.K. to unravel the threads exposed by the...