The post Ethereum Price Prediction: Can ETH Reclaim $2,000 in July as Whales Accumulate? appeared first on Coinpedia Fintech News
Ethereum price is stuck within a range, as volatility drops significantly, preventing the second-largest token from breaking above $1900. Although the rally remains incremental, the crypto is unable to secure the range, raising concerns over the next price action. The price is trading near $1,882, holding steady after recent gains. In the meantime, the on-chain …
The post BitMine Adds 7,430 ETH, Total Holdings Reach 5.78 Million ETH appeared first on Coinpedia Fintech News
BitMine acquired 7,430 ETH over the past week, increasing its total holdings to 5,777,468 ETH, or about 4.8% of Ethereum’s total supply. The company has staked 4.92 million ETH, equal to roughly 85% of its holdings, and repurchased 5.5 million shares at an average price of $15.62. Total crypto, cash, and other investments reached $11.5 …
The post Strategy Sells $263.5 Million in MSTR Shares appeared first on Coinpedia Fintech News
Strategy sold 2.73 million MSTR shares for $263.5 million in net proceeds between July 13 and July 19. The company did not purchase any bitcoin during the week, leaving its holdings unchanged at 843,775 BTC, acquired at an average price of $75,476 per coin. Its U.S. dollar reserve increased to $3.225 billion. Investors will watch …
The post BitMine Crypto Holdings Reach $11.5 Billion, Stakes Over 4.9 Million ETH appeared first on Coinpedia Fintech News
BitMine said its crypto, cash, marketable securities, and other investments reached $11.5 billion as of July 19. The company holds 5.78 million ETH, about 4.8% of Ethereum’s supply, with more than 4.9 million ETH staked through its staking operations. BitMine also repurchased 5.5 million shares under its buyback program and added 7,430 ETH during the …
The post Can Stablecoin Market Cap Reach $1 Trillion? What the Data Reveals appeared first on Coinpedia Fintech News
Stablecoins have evolved far beyond their original role as settlement assets for cryptocurrency trading. With the total stablecoin market exceeding $310 billion, growing institutional participation, record on-chain payment activity, and regulatory progress in major jurisdictions, several financial institutions now project the market could expand well beyond its current size over the next decade. Forecasts vary …
The US Dollar remained resilient against its major peers early Friday as investors continued to monitor developments in the Middle East and looked ahead to a fresh batch of US economic data.
Market participants are set to focus on the US economic calendar later in the day, which includes the June Export Price Index, Import Price Index, and Housing Starts data.
Investors will also watch the preliminary July Consumer Sentiment Index from the University of Michigan (UoM) for further clues on economic conditions.
The US Dollar regained momentum on Thursday after declining for two consecutive sessions.
The USD Index ended the day in positive territory, supported by stronger-than-expected Initial Jobless Claims data.
The stronger labor market data helped the greenback recover.
At the same time, increased risk aversion across global financial markets boosted demand for the US Dollar as a traditional safe-haven asset.
Early Friday, the USD Index held on to modest gains near the 100.80 level during the European session.
Investor sentiment remained cautious as geopolitical tensions continued to dominate market attention.
The United States carried out strikes for the sixth consecutive night, focusing on southern Iran.
According to Al Jazeera, officials in Bandar Abbas in southern Iran reported that civilian infrastructure, including power facilities and a train station, had been hit.
Separately, Reuters reported in an exclusive article published late Thursday that Iran had asked Yemen’s Houthi militia to remain prepared to close the Red Sea oil route if US strikes targeted Iranian power infrastructure.
The report highlighted a potential new threat to global energy supplies, contributing to the cautious mood across financial markets.
The geopolitical uncertainty prompted investors to reduce exposure to riskier assets.
Reflecting this shift, US stock index futures were down between 0.8% and 1.5% during the European morning session, pointing to a broader flight to safety.
The stronger US Dollar weighed on several major currencies.
The euro struggled to recover after Thursday’s decline, with the EUR/USD pair remaining below the 1.1450 mark during Friday’s European trading session.
The British pound also stayed under pressure.
GBP/USD extended its losses and moved toward 1.3450 after falling nearly 0.5% in the previous session.
Meanwhile, USD/JPY traded within a narrow range below 162.50.
Japan’s Finance Minister, Satsuki Katayama, reiterated on Friday that Japanese authorities stand ready to respond to currency movements whenever necessary.
The Indian Rupee opened marginally stronger against the US Dollar as trading headed into the weekend.
The USD/INR pair slipped toward the 96.30 level as the Indian currency gained ground.
As reported by Reuters, the move followed intervention by the Reserve Bank of India, which supported the rupee despite the broader strength seen in the US dollar.
With geopolitical tensions continuing to shape investor sentiment, markets will closely monitor the upcoming US economic releases for additional direction.
The post US dollar holds firm as Middle East tensions support safe-haven demand appeared first on Invezz
The US Dollar traded in a narrow range at the start of the week, while major currency pairs showed limited movement.
Meanwhile, oil prices advanced amid the absence of any signs of de-escalation in the Middle East crisis.
The US Dollar (USD) Index fluctuated below the 101.00 level after posting a two-day rebound at the end of the previous week.
At the same time, US stock index futures traded little changed, indicating a cautious start to the trading week.
Oil prices moved higher at the beginning of the week as the ongoing crisis in the Middle East continued to support energy markets.
There were no indications of a de-escalation in the conflict, keeping investors focused on potential supply risks.
During Asian trading hours, the People’s Bank of China (PBOC) announced that it kept its benchmark Loan Prime Rates (LPRs) unchanged.
The central bank left the one-year Loan Prime Rate at 3.00%, while the five-year reference rate remained at 3.50%.
Following the announcement, the Australian Dollar showed a limited reaction.
The AUD/USD pair traded relatively quietly on Monday and edged marginally higher during the session, remaining slightly below the 0.7000 mark.
Investors are also awaiting New Zealand’s quarterly Consumer Price Index (CPI) data, which Statistics New Zealand is scheduled to release during the early Asian trading session on Tuesday.
Ahead of the inflation release, the New Zealand Dollar remained firm.
The NZD/USD pair held on to modest gains and traded near the 0.5850 level during the European morning session on Monday.
The Euro traded with limited direction against the US Dollar at the start of the week.
The EUR/USD pair remained broadly flat during the day after opening with a small bearish gap.
It traded slightly below the 1.1450 level as investors refrained from taking significant positions.
The British Pound also posted modest gains against the US Dollar.
Market attention remained on political developments in the United Kingdom, with Andy Burnham set to become the country’s seventh Prime Minister in a decade later in the day.
Burnham is expected to appoint Shabana Mahmood as finance minister, with Mahmood widely viewed as someone who would support fiscal conservatism.
Against this backdrop, the GBP/USD pair held on to small gains and traded above the 1.3450 level at the start of the European session.
The Indian Rupee opened the week on a weaker footing against the US Dollar.
The USD/INR pair climbed to around 96.46, supported by a fresh rise in oil prices and continued foreign fund outflows from the Indian equity market.
The combination of higher energy prices and sustained selling by foreign investors weighed on the Indian currency at the start of the week.
Overall, currency markets remained largely range-bound as investors assessed geopolitical developments, monitored central bank decisions, and awaited key inflation data from Canada and New Zealand for further direction.
The post Global currencies trade in narrow ranges as markets focus on inflation and oil appeared first on Invezz
Crude oil prices continued rising on Hyperliquid as investors reacted to the ongoing escalation between the US and Iran. Brent jumped to $88.7, with its 24-hour volume soaring to $59 million. West Texas Intermediate (WTI), the US benchmark, rose to $83.62, with the volume rising to $111.2 million.
Brent and WTI prices continued their recovery this weekend as the US-Iran war escalated. The US launched the eighth round of attacks against key Iranian assets, with officials hinting that more attacks will be likely. According to Axios, the US has sent more air refueling planes to Israel in preparation for more attacks.
The current phase of attacks seems to be more severe, with the US focusing on key civilian infrastructure projects like roads and bridges. Iran, on the other hand, has warned that it would no longer abide to the terms of the agreement made with the US.
It has also warned its Gulf neighbors of more sustained attacks in the coming weeks. It attacked a key desalination plant in Kuwait during the weekend, with officials warning that airports and other essential infrastructure projects will be hit. As a result, there are concerns that this is turning into a forever war.
All this is happening at a time when analysts are warning that the buffers that prevented a more dramatic surge in oil prices in the first phase of the war were no longer there. A recent FT report cited Energy Aspect’s Amrita Sen, who warned that the roughly 400 million barrels of excess inventories at the start of the war have largely been depleted. She said:
“Now we have close to nothing. complacency around Hormuz flows is being severely tested.”
Recent data from the US shows that oil inventories have continued falling. A report by the Energy Information Administration (EIA) showed that inventories fell by 1.7 million barrels in the previous week.
At the same time, ship tracking data shows that traffic through the Strait of Hormuz has continued to dwindle this month. Just ten ships were sailing through the Strait in the last 24 hours, with 444 of them waiting.
The worst part about all this is that there is no easy way out for the current phase of the war since the memorandum of understanding (MoU) signed three weeks ago has failed.
Iran will not have an incentive to restart talks with the US as the country has attacked it at least three times during negotiations. It did that in June last year, February, and now during the MoU.
Iran will also have the incentive to prolong the war, and possibly close the Red Sea, a move that will dramatically reduce the amount of oil coming to the market. It has also warned that it will target Fujairah, another location where oil is still flowing to the market.
Brent crude oil price chart | Source: TradingView
The four-hour chart shows that Brent crude oil price jumped to its highest level since June 12. It has soared by over 25% from its lowest level in June.
Most notably, it has moved above the bullish pennant pattern, which is made up of a vertical line and a symmetrical triangle. It also moved above the key resistance at $83.25, its highest point on June 17.
Oil has also formed a cup-and-handle pattern and moved above the 50-day Exponential Moving Average (EMA). Therefore, the price will likely continue soaring, potentially to the key resistance level of $100.
The post Brent and WTI crude oil prices target $100 as analysts warn of a forever war appeared first on Invezz
Tesla stock dropped to a crucial support level on Friday as traders waited for the upcoming earnings. It also retreated as Xpeng, a top Chinese rival, hinted that it was about to launch a new Model Y killer. TSLA dropped to $380, down by over 23% from its highest point this year.
Xpeng, a top Chinese electric vehicle company worth over $12 billion, hinted that it was working on a new car that will take on Model Y in China and Europe. In a statement, the company’s co-founder said:
“I think we’re not far from beating Model Y. I really believe in that.”
The statement came after the company launched L03, its more affordable electric SUV that starts at about 35,600 euros. It launched this model simultaneously in China and Europe. It is a more affordable vehicle than Model Y, which starts at 39,990 euros.
Xpeng hopes that the new vehicle will help it supercharge its deliveries and stock. In a recent report, the company said that its deliveries stood at 40,126 vehicles in June and 103,295 in the second quarter. It delivered 34,611 vehicle in June and 103,181 vehicles in Q2 of last year.
Tesla has come under significant competition pressures in the past few years as Chinese companies have continued launching new models and gaining market share. Some of its top competitors are companies like BYD, SAIC, Nio, and Li Auto.
The next key catalyst for the TSLA stock price will be the upcoming earnings report that comes out on Wednesday.
Analysts expect these results to show that its revenue jumped in the second quarter after its strong deliveries. It produced 450,000 vehicles in the quarter and delivered 480k. This was a big turnaround after the company made 408k vehicles and delivered 358k.
One possible reason for the rebound is that gasoline prices jumped in the second quarter as the US-Iran war escalated. In most periods, a surge in gasoline prices pushes more people to buy EVs, which are often cheaper to maintain.
The average estimate among analysts is that the company’s revenue will come in at $26.36 billion, up by 17.20% YoY. For the year, analysts estimate that its revenue will jump by 10% to $104.5 billion.
In addition to the rising competition, the company is also seeing elevated costs, especially in the data center industry.
TSLA stock chart | Source: TradingView
The daily chart shows that the TSLA stock price has slumped in the past few months, moving from a high of $498 to the current $380. It has recently dropped below the 50-day Exponential Moving Average (EMA).
The Percentage Price Oscillator (PPO) has moved below the zero line and is pointing downwards. Notably, it is hovering slightly above the ascending trendline that links the lowest swing since April last year.
Therefore, the most likely scenario is where the stock drops further, potentially to $350 after earnings. On the other hand, a rebound above $400 will point to more upside.
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