Active Trade

02/02/2024

𝐕𝐢𝐭𝐚𝐥𝐢𝐤 𝐁𝐮𝐭𝐞𝐫𝐢𝐧 𝐨𝐧 𝐭𝐡𝐞 𝐂𝐡𝐚𝐥𝐥𝐞𝐧𝐠𝐞𝐬 𝐁𝐞𝐭𝐰𝐞𝐞𝐧 𝐂𝐫𝐲𝐩𝐭𝐨 𝐚𝐧𝐝 𝐀𝐈, 𝐖𝐚𝐫𝐧𝐬 ‘𝐓𝐫𝐞𝐚𝐝 𝐂𝐚𝐫𝐞𝐟𝐮𝐥𝐥𝐲’

Ethereum co-founder Vitalik Buterin has discussed the intersections between crypto and artificial intelligence (AI), warning to “tread carefully." In a

30/01/2024

𝐔𝐒𝐃/𝐉𝐏𝐘: 𝐃𝐨𝐥𝐥𝐚𝐫 𝐁𝐮𝐥𝐥𝐬 𝐉𝐮𝐦𝐩 𝐒𝐭𝐚𝐫𝐭 𝐖𝐞𝐞𝐤𝐥𝐲 𝐓𝐫𝐚𝐝𝐞 𝐰𝐢𝐭𝐡 𝐅𝐫𝐞𝐬𝐡 𝐀𝐭𝐭𝐚𝐜𝐤 𝐨𝐧 𝐘𝐞𝐧, 𝐑𝐚𝐭𝐞 𝐓𝐨𝐩𝐬 ¥𝟏𝟒𝟖

After a week of seesaw trading, the exchange rate erased a big chunk of losses to pierce the ¥148 mark.

The USDJPY pair advanced to start weekly trading, building on the previous two days of gains. The dollar crossed ¥148.00 and threatened to break out of its short-term consolidation capped at ¥148.75 as traders anticipated a wave of events slated for the week ahead.

First off, the Bank of Japan did not make any changes to its easy-money policies at the latest meeting. The status quo weighed on the yen as low rates are generally negative for the local currency’s valuation. And second, markets are bracing for elevated volatility out of the US.

A flurry of economic news is about to sweep forex dealmaking. The US Federal Reserve gathers for its regular meeting, which wraps up on Wednesday with an interest rate decision. On Friday, the nonfarm payrolls report will show how many new jobs were created in the first month of the year. Hopes are pinned at 177,000, down from 216,000 in December.

26/01/2024

𝐓𝐨𝐩 𝐍𝐅𝐓 𝐍𝐞𝐰𝐬 𝐓𝐨𝐝𝐚𝐲

Daily NFT news: Bitcoin and Solana cross swords over the 2nd place in NFT sales volume, Ronin unveils a major wallet upgrade, and more!

23/01/2024

𝐒𝐀𝐕𝐄: 𝐒𝐩𝐢𝐫𝐢𝐭 𝐀𝐢𝐫𝐥𝐢𝐧𝐞𝐬 𝐒𝐭𝐨𝐜𝐤 𝐍𝐨𝐬𝐞𝐝𝐢𝐯𝐞𝐬 𝟔𝟎% 𝐀𝐟𝐭𝐞𝐫 $𝟑.𝟖𝐁 𝐉𝐞𝐭𝐁𝐥𝐮𝐞 𝐓𝐚𝐤𝐞𝐨𝐯𝐞𝐫 𝐆𝐞𝐭𝐬 𝐑𝐞𝐣𝐞𝐜𝐭𝐞𝐝

Federal judge opposed the acquisition plan saying it would harm competition and lead to higher fares.

Spirit Airlines stock SAVE is losing the wind beneath its wings as investors are taking a flight to safety far from the troubled carrier. Shares of the airline cratered more than 60% in the past two days as the company’s intended acquisition by JetBlue Airlines was rejected by a federal judge.

The deal, valued at $3.8 billion, was blocked after the ruling said it would harm cost-sensitive fliers, hamper competition and lead to higher fares. Indeed, JetBlue said they were planning to rip rows out of the ultra-low-cost cramped planes of Spirit and adapt them to their own configuration.

Both sides have not yet announced the next steps in the thwarted merger except for saying it was still the “best opportunity” to help competition. Shares of JetBlue Airways JBLU took a hit as well, falling by nearly 9% on Wednesday, adding to a 10% loss for the week.

16/01/2024

𝐇𝐨𝐧𝐠 𝐊𝐨𝐧𝐠 𝐋𝐢𝐜𝐞𝐧𝐬𝐞𝐝 𝐂𝐫𝐲𝐩𝐭𝐨 𝐄𝐱𝐜𝐡𝐚𝐧𝐠𝐞 𝐇𝐚𝐬𝐡𝐤𝐞𝐲 𝐎𝐩𝐞𝐫𝐚𝐭𝐨𝐫 𝐑𝐚𝐢𝐬𝐞𝐬 $𝟏𝟎𝟎𝐌 𝐖𝐢𝐭𝐡 $𝟏.𝟐𝐁 𝐕𝐚𝐥𝐮𝐚𝐭𝐢𝐨𝐧

HashKey Group, the operator of one of Hong Kong's two licensed crypto exchanges, raised $100 million with a valuation of over $1.2 billion.

12/01/2024

𝐍𝐕𝐃𝐀: 𝐍𝐯𝐢𝐝𝐢𝐚 𝐒𝐭𝐨𝐜𝐤 𝐁𝐫𝐞𝐚𝐤𝐬 𝐂𝐨𝐧𝐬𝐨𝐥𝐢𝐝𝐚𝐭𝐢𝐨𝐧, 𝐑𝐚𝐥𝐥𝐢𝐞𝐬 𝟔.𝟓% 𝐭𝐨 𝐇𝐢𝐭 𝐀𝐥𝐥-𝐓𝐢𝐦𝐞 𝐇𝐢𝐠𝐡 𝐚𝐭 $𝟓𝟐𝟐.𝟓𝟑

After moving sideways for months, the chipmaker blew past its previous record close of $504.09 and rocketed all the way to a $1.3 trillion valuation.

Nvidia stock NVDA was on a tear to start the week, pumping to an all-time closing high of $522.53 a piece. Shares soared a whopping 6.5%, pushing the chipmaker’s valuation to the $1.3 trillion mark. Driving the rally was the announcement for new desktop graphics processors, of course, AI-powered.

Nvidia unveiled its GeForce RTX 40 SUPER Series targeted at the gaming sector. Other software products were also brought into daylight, resulting in the massive share-price move. The new peak eclipsed Nvidia’s previous closing record of $504.09 made on November 20.

More importantly, the world’s most valuable chip company exited its slump of trading under $500 in recent months. The firm’s current quarter ends January and investors expect to see fiscal 2024 earnings per share to land at $12.26. Nvidia reports earnings on February 21.

09/01/2024

𝐁𝐢𝐭𝐜𝐨𝐢𝐧 𝐝𝐞𝐫𝐢𝐯𝐚𝐭𝐢𝐯𝐞𝐬 𝐭𝐫𝐚𝐝𝐞𝐫𝐬 𝐛𝐞𝐭 𝐛𝐢𝐥𝐥𝐢𝐨𝐧𝐬 𝐨𝐧 𝐄𝐓𝐅 𝐟𝐮𝐭𝐮𝐫𝐞

Cryptoverse: Bitcoin derivatives traders bet billions on ETF future

05/01/2024

𝐗𝐀𝐔/𝐔𝐒𝐃: 𝐆𝐨𝐥𝐝 𝐏𝐫𝐢𝐜𝐞𝐬 𝐃𝐫𝐢𝐟𝐭 𝐀𝐛𝐨𝐯𝐞 $𝟐,𝟎𝟕𝟓 𝐀𝐟𝐭𝐞𝐫 𝟏𝟑% 𝐆𝐚𝐢𝐧 𝐢𝐧 𝟐𝟎𝟐𝟑. 𝐖𝐡𝐚𝐭’𝐬 𝐭𝐡𝐞 𝐎𝐮𝐭𝐥𝐨𝐨𝐤?

Gold set an all-time high last year as the Federal Reserve vowed to cut interest rates. Investor optimism remains elevated heading into 2024.

Gold prices XAUUSD shifted gears early on Tuesday, reaching just above $2,075 per ounce. The precious metal was gaining upside momentum following two straight days of negative performance. Broadly, investors remain optimistic about gold’s prospects for growth in 2024.

The metal closed out 2023 with a modest 13% increase, underpinned by the Federal Reserve’s plans to trim borrowing costs this year. What is more, gold moved up to hit a record high of $2,150 early last December. In that context, gold bugs expect to see sustained demand going forward.

Lower interest rates typically pressure the local currency. Priced in dollars, gold’s valuation generally rises when the greenback is retreating. And with interest rates expected to move to levels around 4.50% from the current 22-year high of 5.25% - 5.50%, the outlook for gold hinges on how the dollar performs. Further, increased geopolitical instability could add fuel to gold prices.

29/12/2023

𝐗𝐑𝐏 𝐋𝐚𝐰𝐲𝐞𝐫 𝐑𝐞𝐚𝐜𝐭𝐬 𝐭𝐨 𝐌𝐢𝐜𝐫𝐨𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐲'𝐬 𝐁𝐓𝐂 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞

'Saylor Wants More Bitcoin Than Satoshi': XRP Lawyer Reacts to MicroStrategy's BTC Purchase

26/12/2023

𝐔𝐒𝐃/𝐉𝐏𝐘: 𝐃𝐨𝐥𝐥𝐚𝐫 𝐒𝐥𝐢𝐝𝐞𝐬 𝐁𝐞𝐥𝐨𝐰 𝟐𝟎𝟎-𝐃𝐚𝐲 𝐌𝐨𝐯𝐢𝐧𝐠 𝐀𝐯𝐞𝐫𝐚𝐠𝐞 𝐚𝐭 ¥𝟏𝟒𝟐 𝐚𝐬 𝐁𝐞𝐚𝐫𝐬 𝐋𝐞𝐚𝐝 𝐌𝐨𝐨𝐝 𝐒𝐡𝐢𝐟𝐭

The Japanese yen has been favored by FX traders in December with the currency rising 4%. Quiet trading pushed the pair further to the downside.

The USDJPY drifted modestly lower on Monday as traders and investors were looking to get a break from dealmaking. The pair slipped to levels near ¥142.00 as low trading volume pressured the dollar just enough for it to slip under the 200-day moving average.
Such a slip is usually associated with the start of a bearish trend. It has to be said that this is the first dip under the 200-day MA for the first time since December last year. Back then, the greenback was coming down from its multi-year peak of ¥151.90. Now, the sentiment appears to have changed again.

The bearish momentum has taken the pair to a 4% decline in December as markets are rotating out of the US dollar. The latest confirmation arrived Friday when the US revealed that PCE inflation - the Fed’s preferred measure - came in at 3.2% for November, shooting under analysts’ consensus.

22/12/2023

𝐈𝐎𝐒𝐂𝐎 𝐏𝐮𝐛𝐥𝐢𝐬𝐡𝐞𝐬 𝐏𝐨𝐥𝐢𝐜𝐲 𝐑𝐞𝐜𝐨𝐦𝐦𝐞𝐧𝐝𝐚𝐭𝐢𝐨𝐧𝐬 𝐟𝐨𝐫 𝐃𝐞𝐜𝐞𝐧𝐭𝐫𝐚𝐥𝐢𝐳𝐞𝐝 𝐅𝐢𝐧𝐚𝐧𝐜𝐞 (𝐃𝐞𝐅𝐢)

IOSCO, which sets standards for securities market regulation globally, has issued policy recommendations for the supervision of DeFi.

19/12/2023

𝐈𝐗𝐈𝐂: 𝐍𝐚𝐬𝐝𝐚𝐪 𝐂𝐨𝐦𝐩𝐨𝐬𝐢𝐭𝐞 𝐄𝐱𝐭𝐞𝐧𝐝𝐬 𝐆𝐚𝐢𝐧𝐬 𝐭𝐨 𝐍𝐞𝐰 𝟐𝟎𝟐𝟑 𝐇𝐢𝐠𝐡 𝐚𝐬 𝐓𝐫𝐚𝐝𝐞𝐫𝐬 𝐏𝐢𝐥𝐞 𝐁𝐞𝐭𝐬 𝐨𝐧 𝐅𝐞𝐝 𝐏𝐢𝐯𝐨𝐭

Tech-heavy index notched its fifth straight day of winnings as the 2024 investment theme is already getting baked in.

The Nasdaq Composite IXIC added 0.2% on Thursday, extending its recent gains to a five-day streak and logging a new 2023 record at 14,761 points. Investors continued to ride the Federal Reserve’s announcement that interest-rate hiking is finished and three 25bps cuts are expected in 2024.

The tech-dense index is up 42% on the year, and 9% away from its record. Its 30-strong blue-chip peer, the Dow Jones DJI climbed to a new record high, pulling off back-to-back stellar performances. The S&P 500 logged a daily increase as well and is up 23% this year, a mere 1.6% shy of its record peak.

Judging by investors’ recent buying spree, inflation is in the rearview mirror. That sentiment is already setting the investment theme for next year – inflation’s complete pullback leading to a soft landing. Price pressures are expected to fade with consumer price growth gradually coming back to the Fed’s 2% target.