Russian Market

2022-04-29 12:47:36 Gold back on the rise

Gold is back on a positive momentum after hitting its 1,875 support line. The improvement in sentiment is also a reflection of a rebound in inflation expectations which are now back at 2.98%.

Similarly, other commodities also got a boost from improved risk appetite after China promised to scale up economic stimulus.

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2022-04-29 11:31:40 Market Overview

BTC price trades below $40K

The Top-10 are traded in different directions:
BNB +3.7%
LUNA -3.25%
SOL -1.7%

Market cap: $1.91T (+0.64%)
BTC dominance: 39.32% (-0.52%)
Fear & Greed Index: 23 (Extreme Fear) Open / Comment

2022-04-28 21:46:23 Solo BTC miner won a block with 1 in 20,000 probability

On April 27, a single miner with a processing power of 60 TH/s successfully won block 733 739 and received a reward of 6.25 BTC (~$244K).

The information was announced by Solo CK, the manager of the solo miners pool, which ranks 13th in the list of bitcoin mining pools and has a 0.22% share in the cryptocurrency network.

Given the current complexity of the Bitcoin network, the chance of finding a unit as a single miner was 1 in 20,000. A Solo CK spokesperson said that the miner has been mining cryptocurrencies alone for at least a month.

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2022-04-28 19:20:06 Ethereum price is likely to rise soon

On-chain data vendor Santiment revealed that over the past month, the number of unique addresses that have been interacting on the Ethereum chain has demonstrated mild growth, while the ETH price has gone down.

This has created an upward trend and a bullish divergence. Utility growing while prices drop is a strong case for prices turning positive, according to a recent tweet from Santiment.

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2022-04-28 18:35:34 US GDP softer than expected

The US economy unexpectedly contracted in the first quarter, dragged down by softer inventory growth, a persistent trade deficit, and to some extent by softer consumer spending. Gross domestic product fell at a 1.4% annualised rate (vs +1.1% expectations).

Many analysts consider the print "misleading" as they state that the economy is still quite strong. But should coming economic data point to a softer growth, this could push the Fed to reconsider its monetary stance.

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2022-04-28 15:34:42 More US lawmakers are starting to invest in crypto

According to data provider 2iQ Research, current members of Congress bought and sold an estimated $1.8 million worth of crypto-related investments since the beginning of 2021. The amount is based on the midpoint of dollar ranges reported by lawmakers in public disclosures.

The 2iQ Research analysis found 21 members of Congress or their immediate family traded cryptocurrencies, crypto-investment products and stocks in crypto-related businesses. Out of the group, seven members serve on committees in the Senate or House that hold key regulators accountable. It is noted that the Republicans were the only members of Congress who reported direct ownership of crypto.

Among the assets include shares of Coinbase and Block. Coinbase exchange reportedly spent $1.5 million on lobbying efforts last year, more than any other crypto-focused entity. In turn, Block employed 10 lobbyists who worked on crypto-focused issues last year.

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2022-04-28 15:18:58 Yen plunges to a 20-year low

The yen dropped more than 10% against the dollar in seven weeks. The yen fell further on Thursday when the Governor of the Bank of Japan Haruhiko Kuroda doubled down on his ultra-easy settings with plans for fixed-rate bond purchases every day to keep yields in check.

However, the extreme moves in the yen triggered an official from Japan's finance ministry to comment the move in the yen past the 131 mark, warrants extreme concern. But so far, policymakers have only made verbal interventions. Until Japan decides to sell some of its gigantic foreign currency reserves to buy the yen, (or change its policy), it is clear for investors that the yen will remain an easy target to sell.

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2022-04-28 13:38:32 Bitcoin mining difficulty hits lifetime high after 5.56% increase

Bitcoin mining difficulty hit yet another all-time high yesterday, less than a month after the previous one, cutting into the decreasing profit margins of miners. Bitcoin mining difficulty is the measure of how hard it is to compete for mining rewards.

On April 27, Bitcoin mining difficulty reached a lifetime high of 29.79 trillion at block height 733,824, after jumping 5.56% higher than two weeks ago. The percentage increase was the second largest since the beginning of the year. On January 21, mining difficulty increased by 9.32%.

Bitcoin’s hashrate is running at 220.61 exahash per second (EH/s) today after hitting an all-time high on April 23, 2022 when the hash rate peaked at 271.19 EH/s.

While the estimation may well change over the next two weeks, network’s difficulty is estimated to increase by 0.30% to reach 29.88 trillion during the next difficulty adjustment – setting another record.

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2022-04-28 12:34:25 Stock markets following earnings

Today stock markets are rallying from oversold levels. In Europe, stoxx50 is gaining 1.7% following upbeat earnings, notably from Unilever and Barclay's, with the former expecting underlying sales growth this year to be towards the top end of the previously guided range (6.5%). US futures are also 1.4% higher following the strong aftermarket performance of Meta and Qualcomm.

So far, Apple, along with Microsoft, is one of the last "havens" in tech, as investors abandon many other parts of the industry. Investors will be closely watching Apple's earnings later today.

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2022-04-28 11:34:02 Market Overview

BTC price trades below $40K

The Top-10 are traded in different directions:
SOL +0.97%
XRP -1.76%
DOT -1.02%

Market cap: $1.91T (+1.21%)
BTC dominance: 39.32% (+0.76%)
Fear & Greed Index: 24 (Extreme Fear) Open / Comment