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ECB Governing Council member Knot: The central banks monetary policy meeting (decision) in June will be very complicated. Medium-term inflation risks actually include both upside risks and downside risks.On April 28, sources said that the ECB decision-makers are increasingly confident that they will cut interest rates in June in response to the continued decline in inflation, but they will not make a large cut. Last week, several ECB members attended the Spring Meetings of the International Monetary Fund (IMF) and the World Bank and talked about the possibility that the eurozone and global economy may deteriorate due to US tariffs. At the same time, the latest economic data released by the eurozone also reflects this phenomenon. As for inflation, there is no sign of deterioration due to tariffs. Sources said that more ECB members believe that it is a more appropriate decision to make the eighth consecutive interest rate cut of 0.25% at the interest rate meeting on June 4. The ECB will also release its latest economic forecasts on the same day. However, ECB officials remain open-minded and will make a final decision based on the data released next month.Russian Foreign Minister Lavrov: Russia has not received any proposal from the United States to assist in the operation of the Zaporizhia nuclear power plant.Russian Foreign Minister Lavrov: Russia will continue to strike targets used by the Ukrainian military as well as foreign fighters and military instructors sent by Europe.According to the Russian Ministry of Emergency Situations, a passenger plane from Moscow to Nalichik, the capital of the Kabardino-Balkarian Republic, returned to the airport due to a malfunction of the cabin pressurization equipment after takeoff on April 27. The plane has landed safely at Moscow Sheremetyevo Airport. It is reported that the plane involved in the accident was a Boeing-737 belonging to Russias Victory Airlines.

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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