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On July 22, it was reported that Chinas Ministry of Science and Technology and the European Commission recently signed a new round of joint research funding agreements between China and the EU. According to the agreement, from 2025 to 2027, China and the EU will focus on areas such as "Agricultural, Food and Biodiversity Solutions" (FAB) and "Climate Change and Biodiversity" (CCB), jointly funding practical R&D projects between Chinese and European universities, research institutions, and enterprises to address global challenges such as climate change and provide technological solutions for achieving carbon neutrality and green, low-carbon development. As per the agreement, China will implement the joint funding mechanism through the "Key Project for Intergovernmental International Science and Technology Innovation Cooperation" under the "National Key R&D Program," while the EU will implement the joint funding mechanism through "Horizon Europe."Crude oil futures contracts rose in the short term, with SC crude oil extending its gains to 5.43%, currently trading at 559.5 yuan/barrel. Low-sulfur fuel oil (LU) rose by 5.09%, currently trading at 4930 yuan/ton. Fuel oil rose by 4.97%, currently trading at 3801 yuan/ton.July 22 - Data released on Wednesday showed that UK inflation slowed more than expected in June, reducing the likelihood of a Bank of England interest rate hike, causing the pound to fall. The June inflation rate fell to 2.6%, but core inflation remained at 2.6%, compared with economists previous forecasts of 2.7% and 2.5%. Aberdeen Investments economist Felix Feather noted in a report: "Household energy bills have not yet fully reflected the energy price shock this summer, and the UKs Gas and Electricity Markets Office (Ofgem) raising price caps will push inflation higher again in the coming months."Italian Foreign Minister: Italy hopes to reach its 5% NATO defense spending target within the next decade.July 22 - During Asian trading hours, U.S. Treasury yields remained largely unchanged as investors weighed rising oil prices against expectations of an impending end to the U.S.-Iran standoff. Meanwhile, the market will also be watching demand for the U.S. Treasurys $13 billion 20-year note auction. JPMorgan strategists noted in a report, "Given the current high yield levels and weak valuation support, we believe Wednesdays auction will be well-informed by the market."

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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