BTCNEXT Exchange Update #8
Two weeks have passed almost unnoticed and here we are back again with more updates! During this time we have worked hard on the global Trading Wars contest for BTCNEXT Broker. A lottery was held under the patronage of the Noah Project. We also added some updates to the exchange website. Find out what’s new right 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.
Oil markets have grown for two consecutive weeks. Traders believe that the large drop in demand is already behind us and that the production decline in OPEC and North America will accelerate. The Brent crude oil barrel price rose above $30, WTI - above $25. It’s too early to talk about a full recovery of the market since there is a risk that negative futures prices will return.
Key indices continue to grow, supported by stimulus measures, e.g. S&P 500 managed to gain a foothold above $2,900.
The crypto market has fallen 6% over the past 7 days. All currencies on the BTCNEXT Exchange also dipped along with the market; the exception being Cardano, which grew by 2% per week. XRP suffered the most, it lost 10% of its value.
The price of BNX remained almost unchanged this week, QDAO token grew by 15%. The price of NOAHP also fell by 20% amid a general market decline.
The hype around the BTC Halving will begin to subside soon. We have seen active market growth in anticipation of this event, however, sideways movement or even market decline seems to be the realistic scenario. The growth of the main cryptocurrency price under current conditions will be short-term.
BTCNEXT Exchange updates
Work is boiling within the BTCNEXT Team. We had a lot of exciting updates in the past two weeks. We have:
- Conducted a generous Noah Trading Lottery. Three lucky winners shared the prize pool of $7,500.
- Added BTCNEXT Broker Trading Wars conditions and launched the registration process for the competition. Trading Wars is our massive competition for traders which has unlimited profit-making opportunities, though a very limited number of participants have signed up. Hurry up and join if you’re a supreme trader!
- Included 2FA video instruction in our FAQ.
- Added an educational video on money transfers from cold wallets to the exchange.
Daily volumes and statistics on the BTCNEXT Exchange:
- BTC - $1.4m
- ETH - $1.2m
- ZEC - $0.9m
- BNX - $1,400
- NOAHP - $5,200
- QDAO - $7,000
- The total average daily volume on the exchange is $8.5m.