Day: January 18, 2023

What are perpetual futures contracts in cryptocurrency?

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In 1992, economist Robert Shiller proposed a cash-settled futures market called perpetual futures that don’t expire and don’t provide delivery or coverage of the traded asset in order to lower the cost of rolling over or directly holding cryptocurrency contracts. However, such contracts are active only in cryptocurrency markets. In order to gain exposure to an underlying asset or index, a trader can own a perpetual futures contract indefinitely. Since the contracts wouldn’t have a predetermined maturity date, this strategy allows for the creation of futures markets for illiquid assets.…

Roblox Stock Jumps 12% as December 2022 Metrics Report Shows Increase in Bookings

The company’s stock has increased more than 30% since the year started and has grown 36.52% over the past month. Online game company Roblox Corporation (NYSE: RBLX) saw its shares jump following the release of its December 2022 metrics report. The company’s shares closed up 11.77% on Tuesday on news that its bookings for the year grew. According to the December 2022 key metrics, Roblox estimated bookings were between $430 million and $439 million, resulting in a 17% gain in the month. Notably, bookings is what the online game platform…

UK Inflation Drops to 10.5% in December amid Rising Interest Rate

Alongside its counterpart in other developed countries, the UK BoE has been hiking interest rates as its major tool to fight headline inflation. Inflation in the United Kingdom (UK) has fallen to 10.5% in December according to data from the British Office for National Statistics (ONS). The core Consumer Price Index (CPI) dropped from the 10.7% it was in November and down from the massive 11.1% inflation growth recorded in October, the highest seen in about 41 years. The UK as well as other countries recorded similar inflation gains as…

Crypto Stocks Pare Off Losses in Wake of Broader Industry Revival

The digital currency ecosystem is a very volatile one, and what seems to constitute the basis for the current growth trend today may not necessarily be fueling the market momentum tomorrow. Many crypto stocks are seeing an impressive start to the year, riding on the back of the sustained rally in the broader digital currency ecosystem. The combined market capitalization of the cryptocurrency industry is currently pegged at $995.26 billion, up 0.67% in the past 24 hours after surging as high as $1.03 trillion earlier this week. Crypto stocks including…

Ethereum Layer-2 Platform, ZKSync, Releases New SDK in Swift

ZKSync, an Ethereum layer-2 platform designed to scale transaction throughput using zero-knowledge (ZK) proofs and Rollups, has released a new software development kit (SDK) in Swift. ZKSync Releases SDK in Swift In a tweet on January 17, ZKSync said the goal is to make their features more accessible to developers and dApps. With a Swift SDK, ZKSync would support more platforms and use cases, especially for teams building iOS and macOS applications on ZKSync 2.0. We want to make zkSync 2.0’s features accessible to more developers and applications, so we’ve released…

Solana Foundation, Ripple, and GBBC Partner to Accelerate Crypto Solutions for Climate Change

Solana Foundation, Ripple, and GBBC will work on finding ways of mitigating environmental risks as well as applying the best practices for climate-related crypto efforts in different sectors. Solana Foundation and Ripple Labs Inc have announced their partnership with the Global Blockchain Business Council (GBBC), the largest industry association for the blockchain technology and digital assets community, to promote the use of crypto-based solutions for issues related to climate change. Solana Foundation, Ripple, GBBC: Common Climate Initiative Within the partnership, a new non-profit organization has been formed. Called Blockchain x Climate Leadership Network (BxC),…

Coinbase stops Japan operations amid trading slump

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Despite Bitcoin (BTC) returning to pre-FTX collapse price levels, the contagion still affects the industry, forcing Coinbase cryptocurrency exchange to close operations in Japan. Coinbase officially announced on Jan. 18 that the firm will be terminating operations in Japan and conduct a complete review of its business in the country due to market conditions. All Coinbase Japan customers will have about a month to withdraw their fiat and crypto holdings from the platform by Feb. 16. After Feb. 17, the remaining crypto assets held by Coinbase Japan customers will be…