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On January 28th, according to foreign media reports, copper futures on the London Metal Exchange (LME) fell, dropping below the $13,000 mark, as investors took profits and awaited the Federal Reserves next interest rate move. Meanwhile, tin prices hit a record high. Traders said some profit-taking occurred in the market, leading to the price decline. Analysts said that copper prices had previously risen sharply and are still at high levels, so its not surprising that some investors locked in profits. However, the fundamentals have not changed substantially; inventories remain tight, and supply constraints persist. Traders said that tin is often used in solder along with silver, and its price may follow the rise in silver prices.US President Trump: I will announce the Federal Reserve Chair soon.U.S. 10-year Treasury futures fell 3 points, and U.S. 30-year Treasury futures fell 18 points.On January 28th, Woodside Energy, an Australian energy giant, reported a 13% drop in fourth-quarter revenue, impacted by continued declines in global crude oil prices and decreased demand on Australias east coast. The company reported revenue of $3.04 billion for the quarter ending December 31st, down from $3.48 billion in the same period last year, but higher than Visible Alphas forecast of $2.84 billion.On January 28th, U.S. Trade Representative Greer stated that India still has much to do to alleviate U.S. concerns about its purchases of Russian oil and to secure tariff reductions. Greer said that while New Delhi has made "significant progress" in curbing its Russian oil purchases, "its difficult for them" to completely stop buying Russian oil because "they like the discounts they get from Russian oil." Greer said, "Im in frequent contact with my counterparts in India. We have a good working relationship, but at this point, they still have a long way to go." These comments indicate that an agreement to reduce U.S. tariffs on Indian goods remains a distant prospect. U.S. and Indian officials have been negotiating for months regarding reducing the 50% tariffs imposed by Trump.

Indonesian Crypto Exchange Ensures Compliance With Biometric Security-Based Wallet

Cory Russell

May 11, 2022 10:37

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According to statistics site CoinMarketCap, crypto assets have lost about $800 billion in market value in the last month, reaching a low of $1.4 trillion on Tuesday, as the end of free monetary policy dampens desire for risk assets.


According to statistics site CoinMarketCap, crypto assets have lost about $800 billion in market value in the last month, reaching a low of $1.4 trillion on Tuesday, as the end of free monetary policy dampens desire for risk assets.


Bitcoin, which accounts for roughly 40% of the cryptocurrency market, fell to a 10-month low on Tuesday before rebounding to $31,450, only six days after hitting $40,000. It was down more than 54% from its all-time high of $69,000 on November 10th.


Prices of digital assets have fallen, reflecting a drop in stocks on worries of aggressive interest rate rises throughout the world to combat decades-high inflation. The Nasdaq, which is heavily weighted in technology, was down 28% from its all-time high in November 2021.


According to CoinMarketCap, the total crypto market worth was $2.2 trillion on April 2, down from an all-time high of $2.9 trillion in early November.


"Bitcoin remains closely tied to larger economic circumstances, implying that the road ahead may regrettably be bumpy, at least for the time being," stated blockchain data firm Glassnode in a note.


Investors were also alarmed by signs of weakness in stablecoins, which are normally a safer crypto currency. TerraUSD, the fourth-largest stablecoin in the world, lost a third of its value on Tuesday after losing its dollar peg.


According to a study issued on Monday by digital asset management Coinshares, despite bitcoin's price drop, funds and products related to it saw inflows of $45 million last week as investors took advantage of market weakness.


"An enormous amount of liquidity has inflated some of these cryptocurrencies," said Nordea Asset Management's senior macro analyst, Sebastien Galy. As various central banks tighten their monetary policies, he expects crypto, which is also tied to high-growth equities, will face pressure.

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