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April 27th - As tensions in the Middle East push up oil prices, U.S. Treasury market traders are closely watching this weeks Federal Reserve meeting to assess officials views on the inflation outlook. The market widely expects the Fed to keep interest rates unchanged on Wednesday, but traders tend to believe a rate cut is still possible before the end of the year. Swap market data from Friday showed the probability of a rate cut before the end of the year has risen to around 40%. This development could pave the way for Kevin Warsh, Trumps nominee, to lead the Fed and implement more accommodative policies. Against this backdrop, traders will be listening closely for incumbent Chairman Powells remarks at the post-meeting press conference for an update on his plans after his term ends next May. Meanwhile, this week will also see a series of Treasury auctions, including 2-year and 5-year notes, to test market demand at current yield levels.According to a recent article by tech journalist Marc Gurman, Apples successor CEO John Tenus will officially take office on September 1st, followed by the release of the first foldable iPhone. This arrangement aims to establish Tenus as the face of this product line. The device focuses on durability and micro-crease technology, and is expected to cost over $2,000. In addition to the phone, Cook has also left behind approximately 10 new product pipelines, including AI smart home devices, AR glasses, and touchscreen Macs, to help him drive Apple into an unprecedented product expansion cycle during his new term.Tanker tracking data shows that Iran has loaded 4.6 million barrels of crude oil at its crude oil terminals, and another 4 million barrels of oil appear to have broken through the US blockade.According to NBC News: The FBI is knocking on doors near the suspects home.Buckingham Palace has stated that King Charles and Queen Camillas trip to the United States will proceed as planned.

Crypto derivatives volumes surge to $3.12 trillion in July

Skylar Shaw

Aug 12, 2022 14:53

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According to researcher CryptoCompare, trade in cryptocurrency derivatives on centralized exchanges increased to $3.12 trillion in July, up 13% month over month, as cryptocurrency values begin to rebound from the recent market crisis.


According to CryptoCompare, the derivatives market now accounts for 69% of all crypto transactions, up from 66% in June, and helped drive total crypto volumes on exchanges to $4.51 trillion in July.


On July 29, derivatives exchanges transacted up to $245 billion, which is 9.7% greater than the $223 billion top daily high for June.


Spot cryptocurrency trade, however, dipped to $1.39 trillion in July, the lowest level since December 2020 and a monthly fall of 1.3%, according to CryptoCompare.


In May and June, the price of cryptocurrencies fell precipitously as investors fled riskier investments due to concerns about soaring inflation and Federal Reserve interest rate rises. Several cryptocurrency organizations have slashed staff after a significant pair of tokens collapsed, and other cryptocurrency lenders have frozen client withdrawals.


With bitcoin rising 17% in July, prices have somewhat recovered. It is still a long way from its record high of $69,000 in November, which it reached at roughly $24,300.


Since there is no U.S. Federal Reserve meeting in August, CryptoCompare said, "the jump in futures trading volume signals an increase in speculative activity as traders feel there is opportunity for more upside in current rally."


According to CryptoCompare, traders are also making predictions on the impending Ethereum merge, which is a network update anticipated for September.


Since its $880 low in June, ether has increased to over $1,900.


According to CryptoCompare, BinanceUSD, a stablecoin released by the cryptocurrency exchange Binance, gained popularity in July as spot volumes for transactions between bitcoin and BinanceUSD for the first time surpassed those between bitcoin and dollars.


With a 54% market share, Binance continued to dominate the exchange landscape, while Atom Asset Exchange (AAX), which saw its volume increase by 26.5% in July, moved into second place.


Trading volumes more than half in the second quarter of 2022, according to a data released on Tuesday by American exchange Coinbase.

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