Month: August 2023

Citi survey of global securities firms

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Discussions around shortening local financial settlement cycles within the next five years have most securities firms eyeing central bank digital currencies (CBDCs).  Banking giant Citi’s latest edition of its Securities Services Evolution white paper highlighted India’s recent move to T+1 settlements, which ensures all trade-related settlements conclude within 24 hours of a transaction. As the United States, Canada and other leading economies step up efforts to transition to T+1 settlement cycles, the Citi survey gauges the importance of distributed ledger technology (DLT), CBDCs and stablecoins in expediting this transition. Global economies transitioning…

Moscow Exchange Ends Q2 with Solid Numbers

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Moscow Exchange (MOEX) has released its financial results for the second quarter of 2023, reporting RUB 1.6 billion in fees and commission income from the foreign exchange (forex) market. The figure jumped by 10 percent quarter-over-quarter and 39.8 percent year-over-year. Don’t miss London’s premier financial event! 3,500+ attendees, 150+ speakers, and 120+ exhibitors await you for unmatched networking, expert insights, and cutting-edge innovations. Register now! The income from the FX market was generated as the trading volume in the FX market reached RUB 66.7 billion, an increase of 9.5 percent…

Bitcoin spot ETF launches on Euronext, analysts expect more growth for this AI-centric altcoin

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Jacobi Asset Management’s recent introduction of a Bitcoin (BTC) Spot ETF on Euronext could bridge the gap between traditional finance and crypto, potentially unleashing a new era of investment possibilities. Amidst this development, InQubeta is fast rising. The artificial intelligence (AI)-centric altcoin appears to be capturing the imagination of tech enthusiasts and investors alike. The convergence of AI and non-fungible tokens (NFTs) can also open new avenues for innovation.  This article explores InQubeta’s growth potential while shedding light…

Key Price Levels And Metrics To Watch

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As the Bitcoin market navigates the choppy waters around $26,000, there are several metrics to keep an eye on. After hitting a low of $25,374 yesterday, the bulls have managed to push the price back up, although the market remains in a vulnerable state following last Thursday’s price crash. Currently, the Fear and Greed Index for Bitcoin sits at 37, which is indicative of strong fear permeating the market. Typically, such a low level on this index suggests that market participants are apprehensive about the near-term future, often leading to…

Bitcoin difficulty jumps 6% to new peak as miners ignore BTC price dip

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Bitcoin (BTC) network fundamentals are in no mood to follow bearish BTC price action this week. The latest on-chain data confirms that difficulty has hit new all-time highs, with hash rate not far behind. Bitcoin mining difficulty ends slump Despite BTC/USD dropping 10% last week, Bitcoin miners appear to be taking the price downturn in their stride. This was cemented in network activity on Aug. 22, as difficulty increased by 6.17% at its latest biweekly automated readjustment. Not only was this enough to take difficulty to new record highs, but…

What are the 3 assets most correlated with Bitcoin?

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The financial media often points out Bitcoin’s (BTC) correlation to big tech. “Bitcoin is trading like a tech stock” is a common narrative alongside BTC’s often acute inverse-relationship with the United States dollar. But are these correlations set in stone, and can they be useful for predicting future price moves? Let’s take a closer look at several reports analyzing the relationship between Bitcoin and various asset types.  Bitcoin’s historic correlations vary across timeframes A report published in October 2022 by the Multidisciplinary Digital Publishing Institute arrived at several key conclusions…

Australian Central Bank Insinuates CBDC is Years Away Due to Unresolved Issue

“Given the many issues that are yet to be resolved, any decision on a CBDC in Australia is likely to be some years away,” the report said with the caveat that the project did not set out to provide a complete assessment of the costs, benefits, risks and other implications of introducing a CBDC. “Instead, it was more narrowly focused on exploring how a CBDC could be used by industry to enhance the functioning of the payments system.” Source