Connect with us

Blockchain

Exclusive: ATFX Increases Share Capital by £3.15 Million

The company has also reported a solid uptick in trading volumes and activity in H1 of 2020.

Published

on

ATFX (UK) has revealed exclusively to Finance Magnates that it has received regulatory approval to increase its share capital by £3.15 million, only months after the foreign exchange (forex) broker previously boosted its share capital by £1.5 million.

According to a statement seen by Finance Magnates this Monday, the broker will use the extra funds to facilitate its ambitious expansion plans within the European Union. The company’s ultimate goal is to offer more localised services by increasing its global footprint.

The Most Diverse Audience to Date at FMLS 2020 – Where Finance Meets Innovation

Furthermore, ATFX will be using the extra cash to establish its new office hub. As Finance Magnates previously reported, the broker raised its share capital by £1.5 million in April of this year, as part of its geographical and product expansion plans.

Today’s announcement follows on from the UK-headquartered firm opening up a new office in Krakow Poland, which the company revealed earlier this month. The focus of the new Polish office will be IT development and marketing – search engine optimisation (SEO).

Suggested articles

Introducing Axiory Intelligence, an Independent Market News-ProviderGo to article >>

In addition to being put towards its expansion, ATFX also plans to use the newly increased capital to improve its educational programs and it will be invested into ATFX Connect, the broker’s new institutional arm.

Revenues increase in H1 2020 for ATFX 

Alongside revealing that it has increased its share capital, the FCA-regulated firm has confirmed higher revenue earnings for certain product categories during the first half of 2020.

For the first half of the year, volumes increased by 61.29 per cent and 46.52 per cent for Q1 and Q2 respectively when compared to 2019. The number of total active traders also rose by 54.64 per cent and 66.40 per cent. 

Wei Qiang Zhang of ATFX
Wei Qiang Zhang, Managing Director of ATFX UK

Commenting on the performance, the Managing Director for ATFX (UK), Wei Qiang Zhang said in the statement: “One of the best parts about increasing our share capital is that there’s no stipulations attached to the funds we’ve raised, and with the advantage of no restrictions – we can direct further investment into ATFX. 

“We’re heavily focused on our Forex Education Centre and how we can help traders to succeed with the use of our extensive educational resources. As such, we’ll continue to invest in education in order to support our clients through every step of their trading journey. As we are now in the third quarter of 2020, our relentless focus on innovation and delivering top tier services to our customers should again provide a solid foundation for continued business growth”.

Blockchain

LINK Marines Lock and Load as Price Falls to Six Week Low

Published

on

advertisement


Chainlink’s native token LINK has been one of the hottest crypto assets this year but that has not helped it escape this week’s big selloff.

Advertisement

Fastpay

Crypto asset markets have dumped $35 billion in terms of total capitalization since the weekend and the sell-off looks set to continue as Bitcoin and its brethren weaken.

A number of crypto assets are retreating from their all-time highs this year and investors are looking for entry points. Chainlink is among them as one of the year’s best performing crypto assets cools off quicker than some of its competitors.

LINK Marines Loading Up

LINK prices have collapsed to their lowest levels for almost two months in a fall back to $7.30 according to Tradingview.com.

LINK price
LINK price – tradingview.com

There has been a minor recovery today as the token topped $8 again, but it is still massively down from its all-time high in mid-August. Back then the Chainlink token briefly touched $20 but it has been a downward slide ever since resulting in a 60% slump to current levels.

Advertisement

Fairspin

This price zone serves as solid support, however, there may be another dip to the 200 day moving average which lies around the $6.60 level.

Crypto investors have been eyeing the charts and are loading up on LINK which could drive prices back up in the short term. Trader and analyst going by the twitter handle ‘RNB (Crypto Warrior)’ (@CryptoWarrior01), has seen the same chart predicting a bounce back to $10 or $12.

The sentiment has been echoed by fellow trader ‘MacroLINK’ (@MacroCRG), who has also admitted to becoming a ‘LINK Marine’ and entering at these levels.

Further downsides are expected though if markets continue to bleed as they have done for most of this week. Chainlink’s market capitalization is currently just over $3 billion which puts it ahead of Crypto.com but just below Binance Coin according to Coingecko.

Crypto Market Selloff Accelerates

LINK has not been the only token to suffer, however, it has been in a downtrend for around six weeks.

Bitcoin, which is largely the bellwether for the rest of the market, is holding crucial support just below $10,300 at the time of writing. Failure to hold here will see the asset tumble back into four figures pretty quickly.

Ethereum is also in pain, falling to its lowest level for three weeks and crucial support at $325. Many of the lower cap altcoins, especially the DeFi related ones have dumped 50% since their giddy peaks in recent weeks.


To get the daily price analysis, Follow us on TradingView

Author: Martin Young




Martin has been writing on cyber security and infotech for two decades. He has previous forex trading experience and has been covering the blockchain and crypto industry since 2017.

Source: https://coingape.com/link-marines-lock-and-load-as-price-falls-to-six-week-low/

Continue Reading

Blockchain

Market Watch: Bitcoin Tumbles to $10,130 as Equity Markets Finish in Deep Red

Published

on

After reclaiming some ground yesterday, Bitcoin has returned to its recent bearish trend by dropping below $10,300. Most altcoins follow with some notable price dips, resulting in a near $10 billion evaporated from the total market cap.

Bitcoin Dips Below $10,300

As reported yesterday, the primary cryptocurrency recovered some of the recent losses and traded around the previous 2020 high from February at $10,500. However, the asset couldn’t maintain its position and began free-falling once again.

In just a few hours, BTC went from its daily high of above $10,500 to its intraday bottom of $10,130 (on Binance). Since then, the digital asset has recovered some ground and is trading now just around $10,300.

Bitcoin’s current position places it close to the support level at $10,290. If BTC further breaks below, it could head towards $10,200 and the psychological $10,000.

btcusd_chart
BTC/USD. Source: TradingView

Adverse price developments are evident among most financial markets. Gold, which typically performs similarly to Bitcoin, dipped from its high of $1,900 per ounce to about $1,850.

You Might Also Like:

The most prominent Wall Street stock market indexes also closed in the red yesterday’s trading session. The S&P 500 went down by 2.4%, the Dow Jones Industrial Average by 2%, and Nasdaq lost the most value (-3%).

Red Dominates The Altcoin Market

Most alts bleed out today. Ethereum has declined by nearly 4% and it trades at $325. Ripple (-3%) fights to stay above $0.22. Bitcoin Cash, Binance Coin, Crypto.com Coin, and Litecoin have also dropped by about 3%.

cryptomarket_heatmap
Cryptocurrency Market Overview. Source: coin360.com

Some lower-cap alts have decreased by double-digit percentages. DigiByte (-18%), Ren (-15%), Orchid (-13%), Reserve Rights (-12%), UMA (-12), OMG Network (-10.5), and Algorand (-10%) lead the way.

A few coins trade in the green as well. Helium has surged by 40% after being listed on the leading cryptocurrency exchange Binance. Uniswap (13%) and HedgeTrade (10%) follow.

Ultimately, though, the crypto market cap has dropped from yesterday’s peak at $332 billion to $325 billion.

SPECIAL OFFER (Sponsored)
Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited – first 200 sign-ups & exclusive to CryptoPotato).

Click here to start trading on BitMEX and receive 10% discount on fees for 6 months.

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.


Source: https://cryptopotato.com/market-watch-bitcoin-tumbles-to-10130-as-equity-markets-finish-in-deep-red/

Continue Reading

Blockchain

Trader Who Transformed 0.2 BTC Into $100,000 Sounding Alarm on Bitcoin, Crypto, and Stock Markets

Published

on

ADVERTISEMENT


A popular Bitcoin trader who turned 0.2 Bitcoin into $100,000 in a recent trading contest is now putting out bearish warnings about both the stock market and BTC.

The pseudonymous trader SalsaTekila just shared a chart of the plunging S&P 500 Index, quoting rapper Eminem and noting he “wouldn’t want to be long on anything right now.”

The trader, who is known as one of the most transparent in the crypto community, says he’s surprised “BTC isn’t nuking already.”

Although he’s concerned about the macro economy, the trader says the bottom might be in for Chainlink (LINK). He says he placed a substantial bet on the coin below $7.80, hoping it makes a big move to the upside.

The day trader, who finished second in the profit-and-loss individual rankings of Bybit’s World Series of Trading, now plans to sit back and watch the market for a while.

“I’ll probably keep my green button disabled on BTC until and unless legacy and commodities bounce. All those markets feel heavy together, rather stay side-lined. Big expiry coming Friday.

React to upcoming moves or events rather than predict them. Don’t give today’s gainz back.”

ADVERTISEMENT


Check Latest News Headlines


Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Source: https://dailyhodl.com/2020/09/24/trader-who-transformed-0-2-btc-into-100000-sounding-alarm-on-bitcoin-crypto-and-stock-markets/

Continue Reading

Trending