Bitcoin, Ether Crypto Coins Surge to New Highs Before Correction, Shiba Inu, Dogecoin Slip Continues
Ethereum’s previous all time high of $4,379.11 was reached in May’s cryptocurrency boom, but the cryptocurrency is now trading at roughly $4,832 (£3,562.31) as of 2.43pm on Tuesday afternoon.
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Bitcoin was trading 1.5% lower Thursday morning. The price was around $59,000 per coin.
More and more cryptocurrencies are entering the market every day, each one offering a slightly different model to attempt to attract investors. One of the most intriguing cryptocurrencies launched this year is SafeMoon, which looks to take the DeFi world by storm.
PancakeSwap is Binance's Decentralized Exchange (DEX) and the largest Automated Market Maker (AMM) around.
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When Ethereum and Bitcoin crashed, these “discount plays” tanked. Now, as the mainstream plays begin to build momentum, these cryptos are struggling to get off the ground and make space for their own identities.
At the lowest volume level, VIP 0, trading fees are 0.1% for both makers and takers. For those customers who generate enough volume to qualify for the top level, VIP 9, trading fees are 0.02% for makers and 0.04% for takers.
Something is brewing over at SafeMoon. The DeFi project is close to launching a widely anticipated V2. The team is targeting greater adoption and additional use cases with the launch of V2.
Regarding regulatory attention, in late June, the UK’s regulator, the FCA, issued a statement that “Binance Markets Limited is not permitted to undertake any regulated activity in the UK.”
Plus, a short seller’s $1m ‘bounty’ on Tether, more outflows from unloved UK stocks and Tom Stoppard’s Leopoldstadt
Verdict: This is definitely a tie. Binance.US offers the same low trading fees that Binance does. Therefore, while Americans may not have access to as many cryptocurrencies on the U.S. platform, they will at least pay the lowest trading fees in the world.
Meanwhile, concerns were also mounting on Oct. 21 that leveraged traders have taken on more risk than they can chew.
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An interesting avenue to explore is the wavelet coherence between different cryptocurrencies, allowing any relationships between different cryptocurrencies to be detected and documented. Relationships between different cryptocurrencies would be of interest for those searching for diversification within cryptocurrency markets, especially to those managing a portfolio of cryptocurrencies.
Campbell, J. Y. and R. J. Shiller (1988), “Stock prices, earnings, and expected dividends”, The Journal of Finance 43 (3), 661–676
The spread is the difference between the buy and sell prices quoted for a cryptocurrency. Like many financial markets, when you open a position on a cryptocurrency market, you’ll be presented with two prices. If you want to open a long position, you trade at the buy price, which is slightly above the market price. If you want to open a short position, you trade at the sell price – slightly below the market price.