Bitcoin held its nerve today, bouncing from $53,500 (Bitcoin's $1T market cap level) before slowly walking back up to the key resistance level of $56,600. The days ahead will be decisive—a rally now will likely leave crypto bulls feeling invincible. Failure to move above $56,600 will simply reduce the number of crypto bulls and will likely be met with another quick leg lower.
With strong earnings and positive economic data, traditional markets finished last week on a strong risk-on tilt, with many indexes reaching or maintaining new highs. Overnight trading saw futures decline, though, hinting at a potential drawdown. Gold is, interestingly enough, edging further up.
Diginex Limited (Nasdaq: EQOS), a digital assets financial services company, today announced record total volumes of over US$1 billion in April month to date, with average daily volumes during the period increasing over three times compared to average daily volumes in the prior month.
Love them or hate them (there seems to be little middle ground where NFTs are concerned), non-fungible tokens are here to stay.
Welcome to the Weekender: Your weekly round-up of all the news stories that our readers deemed the most interesting. This week, the top spot goes to Jesse Powell, CEO of Kraken, who warns that a potential regulatory crackdown on crypto coming be coming to the US.
Wow, new records. Not for BTC’s price, but in traditional markets. The S&P rose almost 1%, reaching new records. The Dow did the same, now above $34,000. While this was happening, bonds were bought ‘en masse,’ pushing the 10-year yield just below 1.6%. Gold loved every bit of that and jumped more than 1.5% on the session.
On Monday, Former CIA Director Michael Morell refuted the use of Bitcoin for illicit activities. His research indicates that criminal Bitcoin transactions have been on a steady decline. In an interview with Forbes, Morell stated: "just the opposite... In fact, there was probably less illicit activity in the Bitcoin ecosystem than there is in the traditional banking system."
Markets remain strong and banks are reporting positive earnings, yet, equities across the board retreated somewhat from their recent record highs. Mainly tech stocks, including Coinbase which just IPO-ed, fell. Gold is holding strong while the dollar continues to lose value.
Having rallied to another new all-time high, Bitcoin has so far failed to hold onto today's gains. Today was always going to be about Coinbase joining EQUOS as a listed Nasdaq company. With the reference price set at $250 per share, the opening print of $381 drove prices higher, peaking at $429 before dropping to $350.
EQUOS, the institutional-grade cryptocurrency exchange owned by Diginex (Nasdaq: EQOS), will host a webinar between Roger Ver, the Founder of Bitcoin.com, and Richard Byworth, CEO of Diginex, the first Nasdaq-listed company with a cryptocurrency exchange.
Lately, non-fungible tokens (NFTs) have taken the world by storm. But what exactly are NFTs? And why are they commanding so much global attention?
Up. This is how markets felt late yesterday and early this morning. Any buyer of risk is a tad richer today than they were the day before.
A relatively tame US session is ending at the moment. The S&P maintained its gains, the Nasdaq retraced but only barely, the Dow is holding on. Yields are where they should be and the dollar just inched down. The only mover is gold, falling about half a percent.
CEO of Diginex [Nasdaq:EQOS] speaks to StoryTrading about the vision and growth of Diginex.
With rapid progress made on the coronavirus front, at least in terms of vaccinations, and central banks around the world maintaining an accommodating stance, markets closed last week on a risk-on note. The S&P and the Dow reached new highs, the Nasdaq printed a strong green candle. The 10-year yield seems to remain in range, between 1.6% and 1.75%. Gold is retracing.