BTCNEXT Exchange Update #10
Another fortnight has passed. We continue the preparation for the BTCNEXT Broker Trading Wars. The high contest demand caused a queue for passing the KYC procedure, which is why registration for the Trading Wars is being extended to June 29th. We also had a lot of exciting updates - check them all out!
Global stock markets remain optimistic. Key indices showed steady growth during the past weeks. S&P 500 managed to exceed the crucial $3,000 marker and continued its growth going beyond $3,200. The Dow Jones almost fought back the March fall - the price broke past the $27,500 mark.
Gold prices fell last week below the support level of $1,700 per troy ounce but managed to recover. The key factor for the gold price will depend on central banks and their activity. Precious metal purchases are declining.
Oil markets continue to recover. A barrel of WTI oil strengthened to around $39. OPEC+ did manage to extend oil production cuts. This decision will positively affect the price of oil; a sharp drop should not be expected.
The crypto market has fallen by 2% over the past 7 days. All currencies on the BTCNEXT Exchange retained their positions; the exception being Cardano (ADA), which grew by 9% per week. XRP suffered the most, but it lost only 1% of its value.
The price of BNX grew in price by 10%. The QDAO token lost $4 of its value which equates to 26%. The price of NOAH.P remains the same.
Bitcoin remains the driver for the entire market. The price of the main cryptocurrency managed to pass the $10,000 mark at one point but the bears didn’t allow it to gain a foothold above this marker. Even 400 million minted Tethers didn’t help to hold it up.
Now, BTC is moving sideways within the $,9400-9,800 margin but decisive action should be expected in the near future. Fewer and fewer traders are betting on explosive growth, so we should be ready for a drop into the $7,500-8,000 area.
BTCNEXT Exchange updates
The BTCNEXT Team made a lot of valuable updates to the Exchange in the past two weeks. We have:
- Updated the Legal Documents on the BTCNEXT Exchange website.
- Prepared to complete a big system update during which trading pairs for DOGE and TRX coins were added.
- Made an update on the Trading Wars page. This is our great contest for the BTCNEXT Broker promotion. The 100 best traders will fight for lucrative cash prizes. Every trader will receive $1,000 for free with which they can trade. The 3 winners with the best results will get $10,000, $5,000 and $3,000 at the end of the contest. The Trading Wars registration is open until June 29th - follow the link if you want to demonstrate your superior skills.
Daily volumes and statistics on the BTCNEXT Exchange:
- BTC - $2.2m
- ZEC - $0.9m
- BNX - $1,000
- NOAH.P - $3,100
- QDAO - $3,000
- The total average daily volume on the exchange is $5.5m.