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On March 2nd, British Prime Minister Keir Starmer issued a statement on the evening of March 1st, stating that Britain had agreed to allow the United States to use British military bases for "specific and limited" defensive purposes. He stated that Gulf states had requested increased British defense capabilities, and that Britain had deployed fighter jets to the region, successfully intercepting Iranian attacks. Starmer also stated that Britain was not involved in any strikes against Iran. Furthermore, the leaders of Britain, France, and Germany issued a joint statement on the evening of March 1st, indicating that they might take "necessary and proportionate defensive action" against Iran to destroy its ability to launch missiles and drones.On March 2nd, Fitchs research arm, BMI, stated in a report that the temporary surge in oil prices following the US and Israeli attacks on Iran could reduce real GDP growth in several major economies by 0.1 to 0.3 percentage points. Inflation could also rise by 1.0 to 2.5 percentage points. Growth in the Gulf region, due to its proximity to the conflict zone, is likely to be hit hardest. Disruptions to shipping in the Strait of Hormuz will affect trade in both hydrocarbons and non-hydrocarbons, potentially offsetting any increased oil production from OPEC countries. This supply shock could trigger capital outflows from emerging markets, prompting some central banks to prematurely end their easing cycles and raise interest rates.According to ABC News: Trump stated, "The Iranians have contacted me. Someone within the Iranian government has reached out. I probably shouldnt tell you who he is. Hes no longer reporting to the Supreme Leader."On March 2nd, it was reported that Didi Chuxings autonomous driving division recently established the Deep Dome Voyage Lab. Based on this lab, Didi Autonomous Driving has taken the lead in establishing a deep industry-academia-research collaboration with Professor Li Shengbos research group at Tsinghua University. The two parties will focus on cutting-edge areas such as multimodal large-scale models, world models, and reinforcement learning, jointly promoting breakthroughs and industrial applications in multimodal end-to-end autonomous driving technology.An Amazon (AMZN.O) data center in the UAE has reportedly been attacked.

Crypto derivatives volumes surge to $3.12 trillion in July

Skylar Shaw

Aug 12, 2022 14:53

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According to researcher CryptoCompare, trade in cryptocurrency derivatives on centralized exchanges increased to $3.12 trillion in July, up 13% month over month, as cryptocurrency values begin to rebound from the recent market crisis.


According to CryptoCompare, the derivatives market now accounts for 69% of all crypto transactions, up from 66% in June, and helped drive total crypto volumes on exchanges to $4.51 trillion in July.


On July 29, derivatives exchanges transacted up to $245 billion, which is 9.7% greater than the $223 billion top daily high for June.


Spot cryptocurrency trade, however, dipped to $1.39 trillion in July, the lowest level since December 2020 and a monthly fall of 1.3%, according to CryptoCompare.


In May and June, the price of cryptocurrencies fell precipitously as investors fled riskier investments due to concerns about soaring inflation and Federal Reserve interest rate rises. Several cryptocurrency organizations have slashed staff after a significant pair of tokens collapsed, and other cryptocurrency lenders have frozen client withdrawals.


With bitcoin rising 17% in July, prices have somewhat recovered. It is still a long way from its record high of $69,000 in November, which it reached at roughly $24,300.


Since there is no U.S. Federal Reserve meeting in August, CryptoCompare said, "the jump in futures trading volume signals an increase in speculative activity as traders feel there is opportunity for more upside in current rally."


According to CryptoCompare, traders are also making predictions on the impending Ethereum merge, which is a network update anticipated for September.


Since its $880 low in June, ether has increased to over $1,900.


According to CryptoCompare, BinanceUSD, a stablecoin released by the cryptocurrency exchange Binance, gained popularity in July as spot volumes for transactions between bitcoin and BinanceUSD for the first time surpassed those between bitcoin and dollars.


With a 54% market share, Binance continued to dominate the exchange landscape, while Atom Asset Exchange (AAX), which saw its volume increase by 26.5% in July, moved into second place.


Trading volumes more than half in the second quarter of 2022, according to a data released on Tuesday by American exchange Coinbase.

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