BTCNEXT Exchange Update #7
Two weeks have passed by quickly. Work on improving the BTCNEXT Exchange continues and we are now busy preparing something global for BTCNEXT Broker. Nevertheless, there were plenty of significant events and an upcoming live-stream event to look forward to. Find out all the details right here and now.
The main player in the financial markets was oil. As a result of last week, the price of a WTI oil barrel fell to $18.30. For the first time in history, oil prices reached into the negative on several exchanges. The price of WTI crude oil futures expiring in April reached -40 dollars on Thursday, April 23rd.
During this period of ultra-low demand for oil and overfilled storages, traders were ready to pay extra for the purchase of expiring contracts, so as not to receive physical delivery of the oil and thus not needing to pay for its storage. Oil prices remain under great pressure and most analysts predict a further decline.
The price of gold continues to rise. The price rose to $1,725 per troy ounce last week. This is the highest level in seven years. The reason for this is the pandemic, which triggered an unprecedented wave of incentives from governments and central banks. The price of gold will continue to move up because of the upcoming meetings to be held by the Fed, the ECB and the Bank of Japan, continuing to fuel this fire.
Key indices continue to strengthen, i.e. the S&P 500 is showing +8% per week and is trading at around $2,900.
The market grew by 15% over the past week. Bitcoin managed to gain a foothold above the mark of $7,500 and Ethereum is approaching $200. All currencies on our exchange also showed good growth, the leaders being XLM and ADA at +40%. ZEC showed the smallest growth with an increase of only 5%.
BNX grew by 15%, QDAO added 45% paired with the dollar. NOAHP followed the general market growth, also increasing in price by 10%.
The crypto market continues to recover after the collapse of March. Less than a month is left before the Bitcoin halving. The next target for the main cryptocurrency will be a corridor of $8,000-8,200. The trend will continue if we manage to gain a foothold in this gap. The possibility of a pull-back below $7,000 is still preserved.
BTCNEXT Exchange updates
Work on the BTCNEXT exchange continues as usual. We have accumulated several updates since last time:
- We now have a Trading Signals page on the BTCNEXT Broker site. You can copy deals of successful traders or share your own operations.
- We also added instructions for the Trading Signals page to help make your trading more profitable. Check it out to get a priceless experience!
- We are preparing the PRIZM (PZM) coin for listing on our exchange.
Daily volumes and statistics on the BTCNEXT Exchange:
- BTC - $1.8m
- ETH - $0.84m
- ZEC - $0.77m
- BNX - $1,800
- NOAHP - $10,000
- QDAO - $9,500
- The total average daily volume on the exchange is $6m.
BTCNEXT and Noah community live-stream
We’ve invited some new faces from the Noah community to share their thoughts on the Noah Projects and the BTCNEXT Exchange development, as well as some familiar ones to share their updates:
- Julia Savitskaya will be reminding you about Kaiwa club, where you can find new friends in quarantine and how toeven earn Noah coins there!
- Anton Dzyatkovskii, as always, will be here to speak about Noah Project updates.
- Mamoru Okabayashi and Takahiro Kato will join the stream as the voice of the community.
Want some good vibes on the rest of the stream? Join our exciting stream-opening game and zap yourself with positive energy!
⏰Date & Time: April 30 at 20:00 JST