Day: July 21, 2020

Key Metrics Show Institutional Demand for Bitcoin Is Surging Rapidly

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Since early 2020, the institutional demand for Bitcoin (BTC) has been steadily increasing. In the second quarter of this year, data show that the appetite for BTC spiked significantly. According to crypto asset fund Grayscale, its products recorded an inflow of $1.4 billion in capital. The investment firm is best known for the Grayscale Bitcoin Trust, which allows institutions in the United States to gain exposure to Bitcoin through a publicly-traded over-the-counter stock. If the demand for Bitcoin climbed steadily in the first three months of 2020, it surged rapidly…

Digitex Futures Giving Away $250,000 to Celebrate Public Launch

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While Digitex introduced itself as the next-gen crypto futures platform, it doesn’t shy away from the other popular niches. Digitex has promised it will launch its own version of crypto spot trading (commission-free) as well as non-custodial accounts.  Digitex Futures, the world’s first zero-fee crypto futures exchange, has been testing its trading platform for eight months and now the company is finally ready to open its doors to the public. To celebrate its public launch on July 31, the Digitex team will officially host a live trading event with a…

F Stock Rises 1%, Company Unveils Electric Ford Mustang Mach-E

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With the Mustang Mach-E 1400 expected to debut in the NASCAR race soon, Ford Motor will look to solidify its position. F stock price is growing. As prevalent in today’s result-driven stock market, positive results can have a remarkable impact on a company’s stock price and performance. The same is currently applicable to Ford Motor Company (NYSE: F) whose stock shows a green tick in today’s pre-market gaining 1.20% to trade at $6.74 with a $0.080 gain. The new lease of life the company is experiencing in its share price…

Chainlink (LINK) Price Rally is Not Over, Shows Google Data

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Chainlink plunged by up to 19.78 percent after setting an all-time high at $8.99 earlier this month. The correction surfaced on profit-taking sentiment among traders – and also as a crypto-focused asset management firm warned about a 99 percent price crash. On the other hand, Google Trends showed the trend for the keyword ‘Chainlink’ hitting a perfect 100, showing the coin’s growing popularity as an investment asset. Chainlink (Ticker: LINK) is up by more than 300 percent on a year-to-date timeframe. The parabolic upside move mainly picked momentum in early…

Jeff Bezos Added $13 Billion to His Wealth in 24 Hours

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Jeff Bezos’ wealth is growing. There are more than a few reasons for this apart from the fact that Amazon is filling gaps. Jeff Bezos within 24 hours became richer by adding another $13 billion to his wealth. Amazon.com Inc (NASDAQ: AMZN) stock prices rose by 7.93 % yesterday in trading. This rise is boosted by the wave of new orders for Amazon products during the current COVID-19 pandemic. Amazon stock in the pre-market is rising as well. Now it is at $3,259 (+1.95%). Amazon (AMZN) stock prices have shot…

Users Balk at Launch of Litecoin Quanto Contracts by BitMEX

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Crypto derivatives exchange, BitMEX, has announced the launch of Litecoin quanto perpetual contracts on its trading platform. We’re further diversifying trading opportunities with the launch of our fifth quanto swap – say hello to the LTCUSD quanto perpetual swap, launching on 30 July 2020. More details on our blog: https://t.co/ObYhgH86od pic.twitter.com/HhJydXNU4X — BitMEX (@BitMEX) July 21, 2020 The LTCUSD quanto perpetual swap testnet is currently live, but the final product won’t be released until July 30, 2020. Up to 33x leverage is on offer. “This is the fifth quanto contract…

Adevinta Acquires eBay Classifieds Unit in $9.2 Billion Deal

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eBay and Adevinta announced a definitive agreement for eBay to transfer its Classifieds business to Adevinta. This move will significantly strengthen both entities and see them compete with major e-commerce businesses. eBay Inc (NASDAQ: EBAY) has announced today that it has entered into an agreement with Adevinta ASA (OSLO: ADE) for eBay to transfer its classifieds business to Adevinta in a whopping $9.2 billion deal. The mega-deal is expected to complete by the first quarter of 2021. “We are pleased we reached an agreement with Adevinta that brings together two…

First Mover: Bitcoin Shows Signs of Life But Ether (And Crew) Steal the Limelight

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In the race to become the dominant cryptocurrency platform, Ethereum is gaining on Bitcoin. Take a look at the market capitalization of ether, the native token of the Ethereum blockchain. Currently, the value stands at about $26 billion. But that figure doesn’t include all of the digital assets built atop the Ethereum blockchain, including some of this year’s hottest tokens: stablecoins like tether and USDC and altcoins like Crypto.com’s CRO, Chainlink’s LINK, Compound’s COMP and Kyber’s KNC.  You’re reading First Mover, CryptoX’s daily markets newsletter. Assembled by the CryptoX Markets Team, First Mover starts your day with…

FINRA Greenlights Grayscale’s Bid to Launch Litecoin and Bitcoin Cash Trusts

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Grayscale, a leading cryptocurrency asset management firm with $4 billion assets under management, has received approval from the United States Financial Industry Regulatory Authority (FINRA) to launch its Bitcoin Cash Trust and Litecoin Trust and make the shares available for public trading on over-the-counter (OTC) markets, according to a press release on July 20, 2020. Grayscale Roll Out Bitcoin Cash and Litecoin Shares Grayscale Investments, a highly reputed cryptocurrency fund management firm established in 2013, has been given the go-ahead by FINRA to launch the Grayscale Bitcoin Cash Trust (BCHG)…