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Thursday, 2 July 23:03 (GMT -05:00)



Foreign exchange market

Revolut Reports 68% Increase In Crypto Trading


According to the data provided by a British financial company named Revolut, the limitations related to COVID-19 have been affecting the amount and cost of cryptocurrency transactions made by international users.
 
Almost 1/3 of the 10 million Revolut clients trade cryptocurrencies via the company's app on a regular basis. the app is tailored mainly to beginning retail traders. Basically, Revolut won't let you buy the actual BTC coin because it's impossible to transfer the purchased BTC coins to an external account. So, you buy coins without actually owning them.
 
UK Traders Are Back To Trading In April
 
Because of the March limitations introduced in the UK, the average cost of transaction dropped all the way down to 58% from 663 dollars to 281 dollars. In April, the traders got back to trading again amid increasing trust to cryptocurrencies. This made the cost of transactions rise by 57%. At the same time, the amount of those trading digital assets increased by 68%.
 
Ripple Outperformed Ethereum
 
It should be noted that in April, Ripple became the 2nd most traded cryptocurrency after Bitcoin, thus outperforming Ethereum. The mentioned 3 coins made up for 51%, 20% and 14% of the trading volume respectively, NordFX experts report.
 
The data provided by Revolut indicates a strong correlation between the user's age and the amount of cryptocurrencies purchased. The average transaction amount for the traders aged 55-64 reached 423 dollars. On the other hand, the traders aged 18-24 spent 134 dollars on cryptocurrencies on average.

 

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JPMorgan: Bitcoin Turned Into Asset and Survived March Crisis

JPMorgan Chase, one of the biggest banks in the United States and the entire world, analyzed the March crash of the cryptocurrency market and published a report on the results of this research. Bitcoin occupies the lion's share of the report. So, the analysts made the conclusion that the BTC market is getting mature, which is confirmed by a strong correlation with most stock markets.

Publication date: 25 June 11:54 AM

Investment Interest In Bitcoin Drops After Halving

Publication date: 21 June 11:33 AM

Ethereum Is Less Private Than Bitcoin

According to a group of Hungarian experts who decided to examine the Ethereum network, ETH transactions turn out to be less private than BTC transactions. The experts published the results of their research after studying a bunch of several, pretty specific functions of Ethereum. Those functions usually make it possible to track the financial flows in the network.

Publication date: 15 June 02:28 AM

COVID-19 Keeps Affecting Dollar

Right before the start of another trading week of June 2020, NordFX experts came up with another set of market predictions for the forex and cryptocurrency markets. Their predictions are based on the consensus forecast compiled from various market forecasts made by various market experts as well as the result of technical analysis. The period is June 15th - 20th. So, this is what those predictions look like:

Publication date: 14 June 10:55 AM

Goldman Sachs Discussed Cryptocurrencies

Publication date: 07 June 03:57 AM

NordFX Wins "Business Excellence" Award By WORLDCOB

The World Confederation of Businesses, WORLDCOB, which unites over 3500 members from over 130 countries of the world, has recognized NordFX's achievements by awarding the company with THE BIZZ Business Excellence Award.

Publication date: 04 June 08:09 AM

Cryptocurrencies and Forex. Early June 2020.

Right before the start of the first trading week of June 2020, NordFX experts came up with another set of market predictions for the forex and cryptocurrency markets. Their predictions are based on the consensus forecast compiled from various market forecasts made by various market experts as well as the result of technical analysis. The period is June 1st - 5th. So, this is what those predictions look like:

Publication date: 01 June 08:47 AM

Annual Inflation of XRP Exceeds 20%

The annual inflation of XRP has exceeded 20%, which is 5 times as high as the inflation of BTC. The figures were provided by a research company named Messari. This is the highest annual inflation rate registered among cryptocurrencies with decent market capitalization. Apparently, a major increase in the amount of circulating coins leads to a cheaper coin, which is something that's going on with XRP.

Publication date: 01 June 06:10 AM

Bollinger Bands and Forex Strategies

In this article, we are going to take a closer look at a interesting tech analysis indicator called the Bollinger Bands. Any seasoned trader out there has probably applied this indicator to analysing the price chart in order to make a sound trading decision.
Publication date: 31 May 05:50 AM

EU To Launch Anti-Crisis Fund

France and Germany, the economic leaders of the European Union, have promoted the idea to start a special fund to back the economic recovery after the crisis.
Publication date: 30 May 04:31 AM