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On January 22nd, futures market news reported that oil prices fluctuated narrowly, while fuel oil saw positive news, and market participants maintained a wait-and-see attitude, providing some support. Downstream restocking was moderate, and buying interest picked up. It is expected that fuel oil trading prices will remain stable with a slight increase today.Futures News, January 22nd: I. Domestic Weather (1) Low temperatures still exist in Jiangnan and other areas, with temperatures gradually rising on the 23rd. On January 22nd, low temperatures still exist in Hunan, Guizhou, Jiangxi and other areas, with temperatures gradually rising from the 23rd. (2) Heavy to blizzard conditions in southwestern Tibet. From the night of January 22nd to the 24th, moderate to heavy snow is expected in parts of western Xinjiang and southwestern Tibet, with blizzards or heavy blizzards in some areas. During this period, light to moderate snow will occur on the Qinghai-Tibet Plateau from west to east, and temperatures will drop by 6-8℃ after the snowfall, with some areas experiencing drops of more than 10℃. II. Global Weather (1) Strong rain, snow, strong winds and temperature drops are expected in Central Asia and West Asia. Over the next three days, affected by the low-pressure system, some areas in southern Central Asia, central and eastern Afghanistan, the Pamir Plateau, eastern Far East, and central and northern Japan will experience heavy to blizzard-like snow or sleet, with some areas experiencing heavy to extremely heavy snow. Most of these areas will see a temperature drop of 8 to 12°C, with some areas experiencing a drop of 14 to 16°C, accompanied by strong winds of level 4 to 6 and above. (2) Heavy rainfall in central and southeastern Brazil. Over the next three days, affected by the low-pressure system, some areas in Brazil, Ecuador, western Colombia, Peru, and northern Bolivia will experience moderate to heavy rain, with some areas experiencing torrential rain. (3) Heavy precipitation in southern Africa and strong winds and temperature drops in the northwest. Over the next three days, affected by the low-pressure system, some areas in southern Africa, including Madagascar and Botswana, will experience moderate to heavy rain, with some areas experiencing torrential rain, accompanied by short-term heavy rainfall, thunderstorms, strong winds, and other severe convective weather. Temperatures in Libya and other areas will drop by 6 to 10 degrees Celsius or more, accompanied by strong winds of level 4 to 6 or higher.Japans Ministry of Finance: Japans exports to the United States fell 11.1% year-on-year in December, while exports to Asia rose 10.2% year-on-year.Integrated Circuits (Chips): 1. Ministry of Industry and Information Technology: Accelerate breakthroughs in key technologies such as training chips and heterogeneous computing power. 2. Moores Threads: Expected revenue of RMB 1.45 billion to RMB 1.52 billion in 2025. 3. Japanese automakers join forces with chip manufacturers to establish a database to prevent supply disruptions and geopolitical shocks. 4. The US says its goal is to move 40% of Taiwans semiconductor supply chain capacity to the US; Taiwan Affairs Office responds. 5. TSMCs advanced 3nm process faces unprecedented production bottlenecks; all capacity is booked until 2027. Artificial Intelligence: 1. OpenAI founder Altman meets with Middle Eastern investors to discuss $50 billion in funding. 2. The Qianwen series of models has surpassed 1 billion downloads. 3. OpenAIs first hardware device is reportedly an AI headset. 4. Apple plans to reshape Siri into a built-in chatbot, possibly announcing it in June. 5. Anthropics annual revenue is reportedly over $9 billion by the end of 2025. 6. White House AI report: Research estimates AI could boost GDP by 1% to over 45%. 7. Apple plans to launch its first wearable AI pin in 2027, with an initial production run of 20 million units. 8. Ministry of Industry and Information Technology: By 2025, my country will have over 6,000 AI companies, with the core industry expected to exceed 1.2 trillion yuan. 9. Meta: The Super Intelligence Lab delivered its first batch of key AI models internally in January, and the new AI models performed "very well." Other: 1. my country successfully conducted an automatic platooning test of heavy-haul trains. 2. Ministry of Industry and Information Technology: my country has launched the second phase of 6G technology trials. 3. Shanghai tax authorities fined Pinduoduo 100,000 yuan. 4. French game giant Ubisoft restructured its business, canceling six games and lowering its performance guidance. 5. Ministry of Industry and Information Technology: Will release guidelines for the construction of a comprehensive standardization system for humanoid robots and embodied intelligence. 6. Reports indicate that Googles Chromebook shipment target for this year remains unchanged from 2025, at 19.5 million units. 7. Sources: Nvidia CEO Jensen Huang plans to visit China in late January to attend a company gathering before the Spring Festival holiday. On January 22nd, a research report from CITIC Securities pointed out that the USD/CNY exchange rate has also continued to rise recently. Given the still strong willingness to settle foreign exchange in the short term, and the fact that the beginning of each year is a major window for RMB appreciation, it cannot be ruled out that the RMB will continue to rise before the Spring Festival, releasing appreciation pressure. The combination of falling US Treasury yields and a strengthening RMB will put considerable pressure on current US Treasury holdings. However, after entering March, US Treasury yields and the RMB exchange rate may simultaneously peak, at which time a more ideal buying opportunity will be provided.

Crypto Cloud Storage STORJ Leads Rally by 55% As ETH, BTC Consolidate

Jimmy Khan

Jun 24, 2022 14:48

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The top cryptocurrencies were anticipated to be driving the rise when the cryptocurrency market passed the $900 billion threshold today.


Storj managed to seize dominance, overtaking every other significant cryptocurrency with its ascent despite the fact that it turned out to be a relatively unknown coin.

Storj?

Indeed, Storj. The asset is, as it sounds, the native token of a cloud storage platform supported by cryptocurrencies, which until today was merely another coin.


However, the altcoin's one-day increase of 55.08 percent succeeded to place it on the map both literally and figuratively, as it joined the top 100 cryptocurrencies list.


Due to the price increase, the asset's market value increased by approximately $100 million during the course of the previous day. This increased the asset's overall growth over the preceding nine days to a total of 156.7 percent.


More than half of the losses that the cryptocurrency sustained during the May 65 percent fall were also nullified by this rebound in addition to the losses registered by the altcoin this month during the June 9 crash.


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The green candle, which closed above both the 100-day SMA and the 50-day Simple Moving Average (red line), insured that the gain was sustained (blue line). The 200-day SMA (purple line), which would effectively transform this into a bullish run, is also getting closer.


Additionally, after more than two months, the Awesome Oscillator switched the active trend's direction from bearish to bullish, with the green bars climbing above the neutral.


Now, it has to be seen if the asset will be able to sustain this growth moving forward or if it will just be another one-day wonder.

Ethereum and Bitcoin Take a Break

The king currencies have been moving slowly, essentially not at all, as the altcoins have taken the lead.

BTC has made little progress at all during the past week, hovering around the $20k to $21k level, whereas ETH recently broke the $1.1k threshold.


However, Bitcoin's recovery has been so sluggish that the king currency has not yet reached the upswing stage that every other altcoin is presently in.


Additionally, the Relative Strength Index (RSI), which has been signaling a trend reversal for more than two months, shows that BTC is still trapped in the negative zone.