Forex & Crypto & Fintech News

While the crypto market may currently be in the throes of a serious collapse, prominent Bitcoin bull Tom Lee has doubled down on his optimism for the future of digital currencies – according to the Fundstrat Global Advisors’ co-founder and chief analyst, now is, in fact, the “golden time” to get into crypto and stay there. Speaking at  BlockShow Asia 2018  in Singapore this Wednesday (November 28), Lee claimed that there are two reasons behind the crypto market crash of 2018. Firstly, 2017 saw “parabolic gains” (Bitcoin skyrocketed up to $20,000), and 2018 is merely a “reversion to mean in terms of total performance”, given the fact that BTC (which is currently trading at around $4,000) was worth around $4,000 per token only last August. Therefore, the bear market has only just brought prices back to where they were before. Secondly, the crypto market currently suffers from a flawed market structure. There are currently only two types of investors in the crypto market – the wh

SIX, the leading index provider for the Swiss Market today announces that it has licensed the SARON (Swiss Average Rate Overnight) to the derivative exchange EUREX as underlying for Futures contracts. SARON represents the overnight interest rate of the secured funding market for Swiss franc (CHF). It is based on transactions and quotes made on the regulated trading platform SIX Repo. The Futures contracts, with a maturity of three months, will start trading on October 29, 2018 on EUREX. SARON was jointly developed by SIX and the Swiss National Bank (SNB) as an alternative reference interest rate for the CHF market and launched by SIX in 2009 as part of the Swiss Reference Rate family. The National Working Group (NWG) on Swiss Franc reference rates, which leads efforts to reform benchmark interest rates, has recommended SARON as the alternative for CHF LIBOR in October 2017. “After the successful transition from the TOIS-fixing to SARON last year and the establishment of a SARO

Turkey’s Capital Markets Board (SPK) said on Wednesday it has set leverage ratios at 1:1 until September 3 for any new positions to be opened in foreign exchange markets to avoid price fluctuations. The move will exclude forex positions and their hedges that were opened before Aug. 16, the Board said. Trump's latest boost to the  dollar: U.S.-Turkey spat President Donald Trump has repeatedly called for a weaker U.S. dollar in a bid to help U.S. exporters, but his recent trade policies, including the imposition of import tariffs on some Turkish goods, have had the opposite effect of strengthening the greenback. The dollar this week rose to a 13-month high against a basket of currencies, getting an extra boost as emerging markets have sold off on concern about contagion from Turkey and investors sought a safehaven in the U.S. currency. On August 10, Trump intensified the spat with Turkey over the detention in Turkey of U.S. evangelical pastor Andrew Brunson on terr

Bitcoin broke below a short-term support level in the early part of the US trading session. The vast majority of altcoins are also in the red, as traders await HitBTC to come back online. Bitcoin is trading below the psychological $8,000 mark, but even more importantly, below the former support zone around $7,800. If this breakout holds, the market is likely to go in a downtrend for the next couple of days. The next key level is the 100-day SMA at approximately $7,588. Charting by TradingView Altcoins are also struggling, with losses across the board. Only a few coins were ever in the positive. USDT, which is pegged to the dollar is experiencing significant flows, as traders opt to take a neutral position. While Binance Coin (BNB) is also holding ground, the overall picture is still very much red: Visualization by Coin360 The total market capitalization of cryptocurrencies did reach a seven-day low around $276 billion, but is still significantly higher than the mid-J

Just weeks after the launch, the EOS market price has stalled - but there is another source of speculation. EOS  is offering another source of speculation while the token’s market price is stagnant: buying and trading RAM. Just like the world of crypto coins, this market for digital real estate is making some rich, and some suddenly turn to the losing side. RAM is needed for  #EOS  account creation, allowing speculation on it cripples adoption. it's a death spiral. Over the weekend, the RAM market went wild once again, doubling the price from 0.2 to 0.2 EOS per Kb. The price of RAM, a feature not so popular among price speculators, can potentially affect the running of apps, but also the creation of new accounts. According to rumors, if the price of RAM rose really high, creating a new EOS account could be steep - up to $100. A couple of weeks ago, RAM prices stood only at 0.015 EOS per Kb. Just a few days ago, a new EOS account cost about $10, and with the curre