Blockchain
ZEX PR WIRE Join forces with Gulf Xellence for GLOBAL TECH INNOVATION SUMMIT Dubai
Dubai, United Arab Emirates–(Newsfile Corp. – February 23, 2022) –
Figure 1: ZEX PR WIRE Join forces with Gulf Xellence for GLOBAL TECH INNOVATION SUMMIT Dubai
The summit is a platform where participants will be presented with use-cases from the enterprise world, inspiring speeches, panel discussions, tech talks, and speed pitches related to blockchain, metaverse, crypto, gamefi, NFT and web3.
The summit focuses on the key development opportunities that lie ahead, as well as provide a global gathering place for industry experts and policymakers to discuss industry issues and latest trends. In addition, the key purpose of the summit is to build global awareness about blockchain and other emerging technologies as well as connecting project developers with key stakeholders within the ecosystem.
About ZEX PR WIRE
ZEX PR WIRE is an end-to-end solution to produce, optimize and target content — and then distribute and measure results. Combining the world’s largest multi-channel content distribution and optimization network and comprehensive workflow tools and platform, we serve over thousands of clients from offices in America, Europe, Middle East, Africa and Asia-Pacific regions.
Zex PR Wire has catered to over 500+ clients, syndicating over 5000+ press releases to over 500+ premium to global and local news outlets (online). ZEX PR WIRE not only caterers in traditional market but also closely work (directly or in-directly) with various top blockchain news/media houses such as Cointelegraph, Bitcoin.com, NewsBTC, Coinspeaker, CoinQuora, Etrendy Stock, Newsaffinity, Citytelegraph, TheTechly, NewsAlarms, Techbullion, U.Today…etc
In case you would like to know more about our services, please feel free to write to us at [email protected] or visit our website https://zexprwire.com/.
About Gulf Xellence
One of the world’s leading event management & Business Training companies, Gulf Xellence has built its name by producing high quality B2B events, delivering international trades’ expo’s across the globe. Gulf Xellence is also a key player when it comes to certified professional training particularly in the Fintech, Blockchain, Crypto , Health, Safety & Environment, Petroleum and Energy sectors. Gulf Xellence was founded by innovative minded entrepreneurs who understand that relationship building, networking and skilled training are keys to business growth and long-lasting success.
Gulf Xellence has been providing business leaders around the world a hybrid platform where businesses can showcase and leverage their competitive values and strengths to the audience globally.
Gulf Xellence Social Links:
Email: [email protected]
Linkedin: https://www.linkedin.com/company/gulfxellence/
Twitter: https://twitter.com/gxellence
Instagram: https://www.instagram.com/gxellence/
ZEX PR Wire Social Links:
Facebook: https://www.facebook.com/zexprwire
Linkedin: https://www.linkedin.com/company/zexprwire/
Twitter: https://twitter.com/zexprwire
Instagram: https://www.instagram.com/zexprwire/
Media and Partnership Contact:
Name: Prerna Arora (Head of Communications & Partnerships)
Email: [email protected]
For Any Other Information
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/114461
Blockchain
Halving weakness sees $206 million exit crypto funds, Bitcoin miners pivot to AI
Leading up to Friday’s Bitcoin (BTC) halving, investors opted to remain on the sidelines rather than increase their exposure to cryptocurrencies. CoinShares’ latest report on digital asset fund flows reveals that crypto funds experienced $206 million in outflows last week, while trading volumes for Exchange-Traded Products (ETPs) dropped to $18 billion.
James Butterfill, head of research at CoinShares, noted, “These volumes represent a lower percentage of total Bitcoin volumes (which continue to rise) at 28%, compared to 55% a month ago.” He attributed this decline in investor appetite to expectations that the Federal Reserve would maintain interest rates at elevated levels for a longer duration.
In terms of regional flows, the United States led the outflows with $244 million exiting incumbent ETFs by the week ending April 19. Butterfill highlighted that newly issued ETFs still received inflows, albeit at lower levels compared to previous weeks. Germany and Sweden saw outflows of $8.3 million and $6.7 million, respectively, while Canada experienced inflows of $29.9 million. Switzerland, Brazil, and Australia also witnessed inflows of $7.8 million, $5.5 million, and $2.2 million, respectively.
Butterfill observed that although Bitcoin saw outflows of $192 million, there were minimal flows into short-Bitcoin positions. Ethereum (ETH) experienced outflows of $34 million for the sixth consecutive week. However, multi-asset funds saw improved sentiment, attracting $8.6 million in inflows. Additionally, Litecoin (LTC) and Chainlink (LINK) received inflows of $3.2 million and $1.7 million, respectively.
The report highlighted that blockchain equities sustained their 11th consecutive week of outflows, totaling $9 million, as investors remained concerned about the halving’s impact on mining companies.
In a separate analysis of the post-halving crypto mining industry, CoinShares analysts suggested that many miners might transition to serving the artificial intelligence (AI) sector, which has become more lucrative. They anticipated a shift towards AI in energy-secure locations, potentially leading to Bitcoin mining operations relocating to stranded energy sites.
The analysts projected a 10% decline in the Bitcoin network’s hash rate after the halving as miners deactivate unprofitable ASICs. However, they expected the hash rate to reach 700 exahash (EH/s) by 2025. As of the current data, the Bitcoin hash rate stands at 596.22 EH/s.
The report also noted that substantial cost increases are anticipated due to the halving, with electricity and production costs nearly doubling. Mitigation strategies include optimizing energy costs, enhancing mining efficiency, and securing favorable hardware procurement terms. Miners are actively managing financial liabilities, with some utilizing excess cash to significantly reduce debt.
Source: kitco.com
The post Halving weakness sees $206 million exit crypto funds, Bitcoin miners pivot to AI appeared first on HIPTHER Alerts.
Blockchain
NYSE gauges interest in 24/7 stock trading like crypto
According to reports, the New York Stock Exchange (NYSE) is exploring the possibility of introducing round-the-clock trading, a model akin to that of cryptocurrency markets. In a bid to gauge market sentiment, NYSE’s data analytics team has circulated a survey among market participants. The survey seeks feedback on whether there is support for 24/7 or extended weekday trading hours and, if so, what measures should be implemented to safeguard traders against overnight price fluctuations. As of now, NYSE, alongside Nasdaq and the Chicago Board Options Exchange, operates from Monday to Friday, spanning from 9:30 am to 4:00 pm Eastern Time.
In the United States, assets like cryptocurrencies, United States Treasurys, foreign exchange, and major stock index futures are already tradable 24/7. Certain brokerages, such as Robinhood and Interactive Brokers, provide access to U.S. stocks throughout the week via a “dark pool” trading venue, catering to international retail investors during their local trading hours.
However, recent reports indicated that Robinhood suspended its 24-hour trading services amidst heightened tensions between Israel and Iran, prompting concerns among investors regarding the sustainability of continuous trading.
Effectively managing liquidity in a 24/7 trading environment has proven challenging for trading platforms within the cryptocurrency industry.
According to cryptocurrency research firm Kaiko, there’s often a mismatch between the operating hours of traditional financial institutions and the needs of major crypto traders and market makers. Traders frequently find themselves losing sleep during periods of extreme market volatility.
While the results of NYSE’s survey haven’t been revealed, Tom Hearden, a senior trader at Skylands Capital, conducted his own poll among his 19,300 followers, asking if they would support NYSE transitioning to 24/7 trading hours. Interestingly, over 70% of the 1,459 respondents voted “No.”
NYSE’s survey coincides with the efforts of startup firm 24X National Exchange, which is seeking approval from the Securities and Exchange Commission (SEC) to launch the first exchange in the country operating round-the-clock.
The FT said, citing two persons familiar with the subject, that the SEC has “months” to study the proposed rule change, and other relevant issues, such who should shoulder expenses and the function of clearing houses, are already being considered by other stakeholders.
“How loud they will be playing in the middle of the night is unknown to me. However, the decision of whether something is commercially feasible or not actually shouldn’t be made by the SEC, James Angel, a Georgetown University finance professor, told FT.
“I support letting the market make the decision. We’re all better off if it succeeds, and the exchange’s stockholders lose out if it fails.
After the company withdrew an application in March 2023, alleging operational and technological concerns, it is the second attempt to receive SEC clearance.
Source: cointelegraph.com
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