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Crypto Spot Trading Halved in June; Kraken’s Move in Europe + More News

This is your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.

Crypto Spot Trading Halved in June; Kraken's Move in Europe + More News 101
Source: Adobe/Bruno R.B S.

This is your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.

Exchanges news

  • Spot trading volumes on both top tier and lower tier crypto exchanges plummeted in June to USD 177bn (-36%) and USD 466bn (-53%) respectively, said the latest report by CryptoCompare, a provider of the crypto market data. Crypto derivatives volumes dropped 36% to the 2020 lowest monthly volume of USD 393bn, while total spot volumes dropped 49% to USD 643bn. Thus, derivatives represented 37% of the market in June. Chicago Mercantile Exchange (CME) total options volumes reached another all-time monthly high of 8,444 contracts traded up 41% since May. But CME futures volumes decreased since May by 23% to 128,258 in June. Among the top 15 top tier exchanges, Binance and OKEx represent approximately 3/4 of spot volume. Binance traded USD 42bn (-20%), OKEx USD 41bn (-29%), and Coinbase almost USD 7bn (-38.5%).
  • The UK’s Financial Conduct Authority (FCA) has granted a London-based subsidiary of Kraken, Crypto Facilities, aka Kraken Futures, a Multilateral Trading Facility (MTF) license. The exchange claims that Crypto Facilities is the first and only licensed derivatives platform offering exposure to leveraged cryptocurrencies in the European Union. The license will allow institutional clients who would be prohibited from trading on unlicensed exchanges to trade on the futures platform.
  • OKEx has integrated Flipside Crypto‘s Fundamental Crypto Asset Score (FCAS) feature directly on its platform, said the emailed press release. This will allow traders to look into a crypto asset’s rating, score, rank and fundamental health, and compare it to other crypto assets.
  • Bitfinex said has launched paper trading, a demo account service that enables users to practice strategies and trade bitcoin (BTC) in a simulated market environment without putting funds at risk in a live account.
  • Maximilian von Wallenberg has become a member of the Management Board of Boerse Stuttgart Digital Exchange GmbH. He is a fintech expert and serial tech entrepreneur, and he was responsible for an AI-based asset manager for cryptocurrencies as Chief Product Officer, among other accomplishments, the company said.

Blockchain news

  • The Afghan Government is launching a Smart Medicine project with three large pharmaceutical distributors and producers, in order to battle counterfeit drugs. The country’s government and the pharmaceutical distributors – Royal Star Pharma, Nabros Pharma, and Bliss GVS – have partnered with blockchain startup Fantom. The platform said that, by facilitating blockchain certification of pharmaceuticals in the country, Fantom alongside technology partner Chekkit and its partners will create an immutable audit trail to ensure items are not tampered with at any stage of the distribution. Initially, Fantom with its Opera mainnet will track 80,000 products across four different pharmaceuticals.
  • South Korean telecoms operator LG U+ has announced the launch of a blockchain-powered repairs, insurance and warranty service for Samsung smartphones, reports Chosun. The move comes days after rival carrier SK Telecom announced a similar move – also initially only for Samsung handsets.
  • A joint public-private sector initiative in South Korea has pledged to invest some USD 838,000 in a blockchain-powered smart payments platform spearheaded by the government of the North Jeolla Province, reports Jeonbuk Joongang. The media outlet says that the central government will foot 60% of the bill, with the remainder coming from private-sector investors.
  • Kyobo Insurance, one of South Korea’s biggest insurers, has announced that it is to join a blockchain-powered healthcare initiative, per Bloter. The initiative is named the Health Alliance for U, and claims to manage a customer benefits and data platform in conjunction with online and brick-and-mortar healthcare services. Fellow signatories include the likes of Dunamu subsidiary Lambda256 and pharmaceutical giant Chong Kun Dang.
  • The Japanese real estate fund operator Fund Creation has joined the Japan Security Token Association (JSTA), per a press release. The JSTA’s membership has expanded quickly this year, with Securitize’s Japanese subsidiary and major Japanese traditional financial institution Tokai Tokyo joining in recent weeks.

Crypto adoption news

  • NetCents Technology, a Canada-based crypto payments technologies company, said it will form a wholly-owned subsidiary in Germany and it will also set up its first European banking relationship. The businesses the subsidiary will operate include merchant processing, invoicing for subscription-based businesses, as well as merchant services and crypto-banking stack/solution as a white-label offering for commercial banks.
  • Digital asset investment firm Arca has launched Ethereum-based trading for new fund – its new digitized security, the ArCoin. Per the press release, the ArCoin represents shares in Arca’s US Treasury Fund, which is registered with the US Securities and Exchange Commission (SEC) and is 80% made up of US Treasury securities.

Dapps news

  • Ethereum-based dapp (decentralized app), Forsage, is an unregistered security, and possibly a Ponzi scheme, decided the Philippine’s Securities and Exchange Commission (SEC). Per their announcement, Forsage’s owner is instructed to officially register the dapp, while the users are advised against using it. The SEC added that Forsage said that its program will continue to function even if its website is closed, and that the Government cannot shut it down because it is decentralized, hence free from authority.

Bankruptcy news

  • Willie Breedt, CEO of cryptocurrency investment firm VaultAge Solutions, has been declared bankrupt as he was handed a sequestration order by the court in South Africa (forcing him into bankruptcy), reported news24. Breedt is suspected of defrauding over 2,000 investors out of c. ZAR 277 million (USD 16.3 million).
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Broker news

Donald Trump blasts ‘fools’ who oppose good Russian ties

US President-elect Donald Trump has posted a progression of tweets censuring the individuals who contradict great relations with Russia as “‘dumb’ individuals, or nitwits”.

Mr Trump promised to work with Russia “to comprehend a portion of the numerous… squeezing issues and issues of the WORLD!”

His remarks came after an insight report said Russia’s leader had attempted to help a Trump race triumph.

Mr Trump said Democrats were to be faulted for “gross carelessness” in permitting their servers to be hacked.

In a progression of tweets on Saturday, Mr Trump said that having a decent association with Russia was “no terrible thing” and that “lone “idiotic” individuals, or simpletons, would believe that it is awful!”

He included that Russia would regard the US increasingly when he was president

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Broker news

Bulls and Bears Took on More Currency Exposure in Week Through January

he most striking improvement among theoretical situating toward the finish of a year ago and the primary session of 2017 is not that modification were little. There was just a single gross theoretical position modification of more than 10k contracts. With sterling apparently not able to maintain even humble upticks, the bears added 13.1k contracts to the gross short position, lifting it to 120.2k contracts.

Or maybe, it is eminent that examiners for the most part added to positions, long and short, as opposed to close positions at the very end of the year. Examiners added to net long outside cash prospects positions, aside from in the Japanese yen and Swiss franc where 2.6k and 2.5k contracts were exchanged separately. Examiners likewise added to gross short positions. Here there was just a single exemption, the Japanese yen. Despite the fact that the dollar shut comprehensively higher in front of the end of the week, every one of the monetary forms we track here, spare the Mexican peso, picked up against the dollar in the three sessions since the finish of the CFTC reporting period.

Every once in a while it is helpful to review why many market members take a gander at the theoretical situating in the cash fates advertise. It is not that the outside trade is essentially a prospects showcase. It is principally an over-the-counter market in which every day turnover midpoints in abundance of $5 trillion a day.

Trade exchanged monetary forms and alternatives represented around 3% of the normal day by day turnover as indicated by the BIS study. Be that as it may, past reviews have discovered some contemporaneous connection between’s market heading and net position changes. We think it additionally offers knowledge into a specific market section of pattern supporters and energy brokers. It is not by any means the only device, yet one of a few data sources.

One ramifications of this is albeit theoretical positions in the money fates market are moderately extensive, it is still little contrasted and the money showcase. Along these lines, it is difficult to see the genuine essentialness of a record vast position, as though there is some market top. At some point, examiners are not driving the costs, possibly there is another fragment, national banks, enterprises, as well as genuine cash that is more essential at any given minute.

We invest some energy taking a gander at gross positions instead of just net theoretical positions, which is the more customary approach. We think a more granular look is frequently fundamental. There is a distinction between short-covering, for instance, and new purchasing, however it appears to be identical in the net. Additionally, the gross position is the place the introduction is not the net position. A net position of zero does not mean the market is nonpartisan. Net positions could be huge, which implies a short press or a negative stun could in any case troublesome. The positions that must be balanced are captured in the gross measure not the net figure.

We find numerous customers are likewise keen on theoretical situating in the US Treasuries and oil. The net and gross short theoretical Treasury position has swelled to new records. The bears added 23.8k contracts to the as of now record net short position, lifting it to 616.2k contracts. The bulls attempted to pick a base and added about 20k contracts to the gross long position, which now remains at 471.2k contracts. These modification prompted to a 3.8k contract increment in the net short position to 344.9k contracts.

The bulls delayed in the oil prospects toward the finish of 2016. They exchanged short of what one thousand contracts, leaving 608.1k gross in length contracts. The bears added 4.1k contracts to the gross short position, giving them 168k. These conformities trimmed the net long position by very nearly 5k contracts to 440.1k.

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Broker news

3 ways to profit in the ‘year of the dollar’

In December, the Federal Reserve raised loan fees for the second time since the Great Recession and included the desire of a 2017 financing cost climb to its gauge. Furthermore, only a couple days prior, the abundantly anticipated minutes from the most recent Fed meeting demonstrated the most hawkish tone from the national bank in two years.

In the meantime, Europe has been dove into political turmoil after a year ago’s Brexit vote and the later abdication of Italy’s leader. Somewhere else, the Bank of Japan proceeds down the way of negative rates and forceful security purchasing.

Put it all together, and it isn’t astounding that the U.S. Dollar Index is up against 14-year highs.

Speculators may have missed so much discussion on account of babble about the Dow Jones Industrial Average at the end of the day almost hitting 20,000. Be that as it may, paying little respect to your assignment to stocks or your venture skyline, this sort of huge picture incline in the dollar implies right now is an ideal opportunity to position your portfolio to benefit and, maybe most critical, to keep away from a portion of the pitfalls that can originate from a solid local cash.

Here are a couple ideas dollar exchanges ought to consider:

Residential plays over multinationals

There’s a considerable measure of seek after shopper stocks in 2017 on account of an enhancing work market and any desires for a jolt under a GOP-controlled Congress and President Donald Trump. In any case, remember that not all retailers are made equivalent especially those with abroad operations that are adversely affected by the wide dissimilarity in monetary standards at this moment.

For example, retailer Wal-Mart Stores Inc.(WMT) said troublesome money trade rates shaved very nearly 2.5% off profit for each partake in the second quarter of 2016. On the other hand consider that in the monetary final quarter of 2016, athletic attire goliath Nike Inc.(NKE) saw its income development cut down the middle because of forex weights, from 12% year-over-year in consistent cash measures to only 6% including real money changes.

To take advantage of the “reflation” exchange that numerous financial specialists are counts on in 2017, you need to represent the headwinds that a solid dollar are making for multinationals at this moment. The most ideal approach to do that is to consider customer plays that do by far most of their business here in the U.S. – for example, Foot Locker Inc.(FL), which has been an uncommon splendid spot in retail throughout the most recent couple of years.

Supported money ETFs

Obviously, in the event that you need a steady portfolio, you can’t just purchase just local centered values. Geographic expansion is similarly as imperative as enhancement crosswise over parts and resource classes. Such a large number of financial specialists keep on holding worldwide plays in light of a legitimate concern for a balanced portfolio, regardless of the possibility that it implies battling a daunting struggle as a result of a solid dollar.

The uplifting news, notwithstanding, is that you don’t need to leave yourself to torment through a solid dollar and a powerless euro when you put resources into Europe. Nor do you need to stress over the yen-dollar conversion standard when you put resources into Japan. That is on account of there’s an entire group of cash supported ETFs to permit financial specialists to put their cash in outside business sectors yet keep away from forex issues.

Consider that Japan’s Nikkei 225 file is up around 25% from its July 2016 lows. The WisdomTree Japan Hedged Equity Fund(DXJ) is up 35% in a similar period on account of assurance from forex issues and a somewhat better-performing rundown of stocks – while the non-supported iShares MSCI Japan ETF(EWJ) is up only 10% in a similar period because of battling a difficult task against a solid dollar.

In the event that you need to differentiate your portfolio comprehensively, you ought to consider supported assets that incorporate the Japan-centered DXJ, the WisdomTree Europe Hedged Equity Fund(HEDJ) to play Europe or the iShares money Hedged MSCI EAFE ETF (HEFA) for developing markets.

Dollar list ETF

In the event that you are searching for an immediate play on a rising dollar as opposed to putting resources into stocks, figuring out how to exchange remote trade can appear like an overwhelming undertaking. Gratefully, there’s the PowerShares DB US Dollar Index Bullish Fund(UUP).

This ETF is attached to the U.S. Dollar Index, which is a measure of the greenback against a wicker container of other worldwide monetary standards including the yen and the euro. It’s a straight money play, however that doesn’t make it straightforward or hazard free. In the event that the dollar debilitates, you’ll lose cash similarly as though you’re putting resources into a stock that has fallen on difficult circumstances. Furthermore, obviously, PowerShares takes a little cut of your speculations en route that indicates 0.8% yearly, or $80 a year on each $10,000 contributed.

Still, in the event that you need to conjecture on the dollar or support against a solid U.S. cash keeping down other worldwide ventures on your rundown, it’s maybe the least demanding approach to do as such for generally financial specialists.

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