Arbitrum tops Ethereum in transactions

On February 21st, Arbitrum, a layer 2 scaling solution, topped Ethereum in daily transactions, solidifying its market dominance. According to Arbiscan, the average daily volume of transactions on the Arbitrum has increased from 159,919 on January 1st to over 1.1 million today.

More market movers from category

Ripple jumps 12% amid market rally 🚀

Ripple (XRP) jumped an additional 12% to $0.58, as investors hope the lawsuit between the SEC and Ripple is coming to an end. The cryptocurrency is already up 65% in the last 2 weeks.

Hong Kong as a digital asset hub

Hong Kong still wants to become an international center for digital assets. The special administrative region’s regulators plan on getting crypto companies and bankers together. A recent Bloomberg report says that the meeting will take place at the Hong Kong Monetary Authority on April 28th.

G7 will discuss crypto regulations

The G7 will detail a coordinated plan to improve crypto transparency and strengthen consumer safeguards. They hope to confront threats to the global financial system during a conference in Hiroshima this May.

Gucci x Yuga Labs

Gucci has recently announced a multi-year partnership with Yuga Labs, the creator of Bored Ape Yacht Club. The primary objective of this deal is to foster engagement between the communities of both companies. This could leverage each other’s strengths to create new and innovative experiences for their customers.

Bitcoin reportedly entered a supercycle

Bitcoin appears to be entering a new bullish “supercycle,” according to Bloomberg senior analyst Mike McGlone. He claims Bitcoin is the best-performing asset in 2023, increasing its price “nearly 10 times” as much as gold.

Do Kwon reportedly arrested

The Interior Minister of Montenegro claims Do Kwon has been arrested in Podgorica, the capital of Montenegro. The identity verification should be confirmed soon.

More market movers

Ripple jumps 12% amid market rally 🚀

Ripple (XRP) jumped an additional 12% to $0.58, as investors hope the lawsuit between the SEC and Ripple is coming to an end. The cryptocurrency is already up 65% in the last 2 weeks.

Saudi Aramco x China 🛢

Saudi Aramco is working with China to build a $12.2 billion oil refinery. The refinery will be in northeast China, and it is expected to be fully operational in 2026. About 300,000 barrels of oil a day will be housed at the refinery.

Alibaba soars 13% after announcement

The announcement of Alibaba’s plan to divide itself into six distinct businesses boosted the stock by 13%. This reorganization may result in many IPOs down the road. The segments would be cloud, e-commerce, global e-commerce, digital mapping, logistics, and a media arm.

5 banks investigated over $100b fraud

Five large banks in France were reportedly targeted by investigators as part of a €100 billion fraud probe. French and German  governments were involved because of a possible money laundering allegation. The banks under investigation are HSBC, Societe Generale, BNP Paribas, Exane, and Natixis.

Charles Schwab suffers losses

Charles Schwab is facing risks due to unrealized losses of over $29 billion on its balance sheet from 2022. As a result, Schwab shares have lost over a quarter of their value since March 8, with some analysts expecting earnings to suffer. The company’s CEO, Walt Bettinger, said the company is healthy and prepared to withstand the turmoil.

Hong Kong as a digital asset hub

Hong Kong still wants to become an international center for digital assets. The special administrative region’s regulators plan on getting crypto companies and bankers together. A recent Bloomberg report says that the meeting will take place at the Hong Kong Monetary Authority on April 28th.

News

AUD/USD falls after domestic CPI – Chinese warnings about Taiwan

It looks like the medium-term downtrend might continue for the AUD/USD pair.
Traders take the market for a red ride as risk appetite increases
SP500
-0.16%

Traders take the market for a red ride as risk appetite increases

Risk appetite dominates the market and sends the session to a red end. Commodities have been the winners of the day.
Gold jumps as stocks fall, but confidence remains weak
XAU
0.68%

Gold jumps as stocks fall, but confidence remains weak

Gold capitalized on a weaker dollar today, maintaining a bullish trend. Are we going back to $2,000?

Forex outlook: Current state of CAD/JPY, EUR/AUD, and AUD/JPY

Explore current trading situation from the forex market, which we analyzed with technical analysis amid rising volatility.