Category: Reddit Post

Performance of tokens listed on Binance since the beginning of 2024

https://preview.redd.it/hi9b3w6p73hd1.jpg?width=1280&format=pjpg&auto=webp&s=e7d3970c1fa44e3dc9cfdc57907e654cb088f5d9 This year, 30 tokens have been added to the exchange. Only one of them has shown positive performance relative to its price at the time of listing on the platform. Data: Coin98 submitted by /u/FXgram_ [link] [comments]

Looks like we missed it… The TrumpCoin (DJT) token, allegedly created by investor Martin Shkreli along with Trump’s son, Barron, plummeted by 91% on the morning of August 6th.

The crash was triggered by the sudden withdrawal of 29,358 SOL ($4.15 million) from the pool that provided liquidity for trading the token on decentralized exchanges. Following this, tokens worth 15,610 SOL ($2.25 million) were sold. The DJT team denies any involvement in the incident. Is this a f*** scam, or what’s the right term for it? Let me know. submitted by /u/XGramatik [link] [comments]

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Black Monday Unexpected Losers

The decline in gold (spot prices at one point fell by as much as 3.2%) might surprise some, considering the metal’s long-standing reputation as a safe-haven asset. In fact, history shows that in times of intense turmoil, gold also tends to weaken as some traders are forced to cover unexpected margin calls when assets fall across the board. Goldman Sachs Group Inc., which remains very optimistic about the prospects for bullion, suggested that such dynamics may have been at play during Monday’s session. The precious metal could “suffer from negative spillovers from broader market routs as investors liquidate gold positions to cover margins calls,” analysts, including Daan Struyven, stated in a note while reaffirming the bank’s target for gold to rise to a record $2,700 an ounce by 2025. Source: https://finance.yahoo.com/news/unexpected-winners-losers-markets-went-080546304.html I believe the same can be said for the cryptocurrency market, which was heavily impacted by the global sell-off on Monday: Bitcoin (BTC-USD) briefly traded below $50,000, and Ethereum (ETH-USD) experienced its largest one-day drop since 2021. Margin calls forced investors to hit the panic button. submitted by /u/FXgram_ [link] [comments]

Europe’s STOXX 600 gains on global recovery, earnings boost

(Reuters) – European shares rebounded on Tuesday after hitting six-month lows in the previous session, resonating a recovery across Asian markets, and buoyed in part by a plethora of corporate earnings. The STOXX 600 was up 0.8%, as of 0717 GMT, after the continent-wide index logged on Monday its steepest three-day decline since June 2022, closing below the key 500-point mark for a second day. Japan’s Nikkei gained 9% after the markets witnessed its largest single-day decline since 1987 in the previous session. [MKTS/GLOB] The travel sub-index was the top gainer among sectors, led by a 2.1% gain in InterContinental Hotels Group after the Holiday Inn owner reported higher numbers in the second quarter. Among individual stock moves, Italian bank Monte dei Paschi di Siena surged 8.2% ater it raised its profit outlook. Adecco (SIX:ADEN) gained nearly 5% even as the Swiss staffing company flagged bleak hiring trends to persist in the third quarter. Shares of Zalando gained 4% after the online fashion marketplace reported an 18.5% rise in its operating profit for the second quarter. Abrdn gained 3.7% despite the British asset manager reporting a modest dip in its assets under management in the six months ended June 30. submitted by /u/Ankle_be [link] [comments]

At a certain level of spending, lifestyle can significantly impact your wealth

Even more than the returns on your portfolio. And managing returns is much more difficult. Wealth is simply the difference between what you have and what you want. It’s a two-sided equation, but many people only think about the part where they earn more. This is not bad. Just don’t be fanatical about it. Some people spend an extra 20 hours a week analyzing and choosing the best stocks or even ETFs with a commission one-tenth of a percent lower than the current one, while losing dozens of times that difference on wine, restaurants, and maintaining an expensive car. However, it’s much more efficient to simply switch to a Toyota. Today’s market turbulence is a reminder of the importance of financial prudence. As portfolios take a hit, it’s worth reflecting on the fundamentals of wealth: knowing the balance between what you have and what you desire. In volatile times like these, it is crucial to focus on what you can control – like your spending habits -rather than getting caught up in the elusive pursuit of outsmarting market swings. As markets fall, remember the wisdom from Taleb’s first and best book, “Fooled by Randomness,” where he talks about Nero Tulip: “He did not depend on a bull market, so a bear market did not bother him much.” submitted by /u/FXgram_ [link] [comments]

Are You Buying This Dip or Is the Bottom Still Far Off? What’s Happening in the Markets This Morning

Market Update: Japan’s stock market experiences its largest 2-day plunge on record. The “Magnificent 7” stocks shed over $1 trillion in market value today. The cryptocurrency market loses over $500 billion in market cap within 24 hours. Markets are now factoring in a 60% probability of an emergency Fed rate cut. South Korea has suspended all sell orders on its stock market. Nasdaq futures drop by as much as 6.5% in a single day. Today’s decline will be remembered as historic. Not much more detail PRE-MARKET TRADING OFFICIALLY OPENS: Nvidia, $NVDA, -8% Tesla, $TSLA: -6% Apple, $AAPL: -6% Alphabet, $GOOGL: -5% Meta, $META: -5% Microsoft, $MSFT: -5% Amazon, $AMZN -4% The Magnificent 7 is currently set to erase $1.5 TRILLION of market cap today alone. Bond markets are now pricing in a 60% likelihood of an emergency interest rate cut within the next week. This would be the first emergency rate cut since March 2020, during the pandemic. Was something missed? submitted by /u/XGramatik [link] [comments]

Analysts weigh in on market selloff.

US stock futures tumbled Monday as the global stock selloff deepened, driven by fears that the Federal Reserve is moving too late to support a slowing economy. Nasdaq 100 futures fell sharply by 3.3% after the index entered a technical correction on Friday. S&P 500 contracts dropped more than 2.1%. Europe’s Stoxx 600 benchmark declined over 2.2%, marking its largest three-day drop since June 2022. In Japan, the Topix and Nikkei indexes both plunged over 12%. Taiwan’s benchmark had its worst day on record, while a broader gauge of Asian shares experienced its steepest decline in over four years. The yen surged more than 2.7% against the dollar. submitted by /u/Ankle_be [link] [comments]

Two United States Senators have introduced a bill aimed at expanding the Secret Service’s powers to combat cryptocurrency-related crime.

The “Combatting Money Laundering in Cyber Crime Act of 2024” bill was introduced by Nevada’s Catherine Cortez Masto and Iowa’s Charles Grassley on Aug. 2. It would expand the Secret Service’s authority to investigate cryptocurrency transactions made by unlicensed money transmitting businesses and potential frauds committed against US financial institutions. https://preview.redd.it/wek2pro35tgd1.png?width=631&format=png&auto=webp&s=d385389591a1fb8da64d53d71e2456809d6b92f0 submitted by /u/Lor1al [link] [comments]

Oil prices drop as US recession fears spark broader selloff

London (Reuters) -Oil futures extended losses in a volatile session on Monday as fears of a recession in top oil consumer the United States offset supply worries stemming from mounting tensions in the Middle East, the world’s largest oil producing region. Share markets also tumbled across Asia as U.S. recession fears sent investors rushing from risk assets while wagering that rapid rate cuts will be needed to drive economic growth. Brent crude futures dropped 53 cents, or 0.7%, to $76.28 a barrel by 0819 GMT. U.S. West Texas Intermediate crude futures were down 57 cents, or 0.6%, at $72.95. Brent and WTI tumbled more than 3% on Friday submitted by /u/Ankle_be [link] [comments]

The crypto market has crashed, with Bitcoin’s price dropping to nearly $49,000 at its lowest point and Ethereum falling to $2,100. Altcoins from the top 100 by market capitalization have seen declines of up to 30% in just one day.

The total volume of long liquidations on exchanges has exceeded $1.05 billion in the past 24 hours, according to Coinglass. Over 270,000 traders had their positions forcibly closed, most of them in Bitcoin and Ethereum. Additionally, more than $350 million in liquidations have been recorded in decentralized finance applications, according to The Block. submitted by /u/FXgram_ [link] [comments]