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Bybit Report: Crypto Market Rollercoaster – Did the Worst Sell-Off Already Happen?

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DUBAI, UAE, Aug. 9, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, in partnership with BlockScholes, is pleased to release its latest Crypto Derivatives Analytics Report – Option Volatility Shows Worst Time Might Be Over.

The report unveils a complex interplay of macroeconomic factors and market sentiment that shaped the recent crypto landscape. As the dust settles on a week of heightened volatility, triggered by the unexpected nonfarm payroll figures, the report offers crucial insights into the market’s behavior.

While the crypto market has historically mirrored broader economic trends, this latest downturn presents a nuanced picture. Unlike previous sell-offs characterized by forced liquidations and extreme volatility, the recent decline appears more contained.

Key Findings:

  • ETH Futures Hold Strong: Despite a surge in trading volume, ETH futures open interest remained remarkably stable, suggesting a more cautious approach from futures traders.
  • Perpetual Contracts Take the Hit: The sharp decline in open interest for both BTC and ETH perpetual contracts underscores the impact of leveraged long positions on the sell-off.
  • ETH Underperforms: ETH’s more pronounced price drop compared to BTC, even after the launch of ETH Spot ETFs, raises questions about the market’s perception of the ETF’s impact.
  • Options Market Optimism: The disparity between realized and implied volatility indicates that options traders are not anticipating a prolonged period of heightened volatility.

These findings suggest that while the crypto market remains susceptible to macroeconomic shocks, its resilience may be improving. However, as the report emphasizes, the situation is fluid, and investors should closely monitor market developments.

Download the Full Report here

#Bybit / #TheCryptoArk / #BybitResearch

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 39 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.

For more details about Bybit, please visit Bybit Press.
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media

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Representatives from 57 countries, regions and 6 international organizations, are gathering in Suzhou.

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What important topics are they discussing about? Let’s find out!

BEIJING, Sept. 22, 2024 /PRNewswire/ — I’m Xiao Lin from National Immigration Administration. On September 9th, the first Sub-Forum on Migration Management Cooperation was successfully held. Representatives from all parties expressed their insights and appeals around the development and innovation of migration governance.

It was truly a content-rich event!

Why does the international community focus on the topic of “Migration Governance” so much?

At present, changes unseen in a century is unfolding at a faster pace. The situation in the wider world remains complex and fluid. However, peace, development, cooperation and win-win results are still an unstoppable historical trend. Migration governance is critical to economic development of individual countries, global security governance and international cultural and people-to-people exchanges. It has increasingly become a key issue in global governance.

Here are the key points:
At the forum, NIA made three commitments: implementing more open policies for the cross-border flow of people, more effective actions in the governance of transnational crimes and more extensive global cooperation in migration governance, injecting new impetus to opening up and development; At the same time, three initiatives have been put forward, [Original scene of the initiative] contributing China’s wisdom and solutions to global migration governance and further showcasing its image as an open, confident, secure, and thriving major power.

Representatives also made keynote speeches, sharing their migration governance policies, measures and experience, and providing their perspectives on regional and international migration governance.

Pooling wisdom for win-win results.

In a changing era, National Immigration Administration of China stands ready to work with all parties to promote global migration governance to a higher level and contribute more wisdom to world peace, development, prosperity and stability!

Video – https://mma.prnewswire.com/media/2512068/Video.mp4

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The 2024 Top 500 Chinese Manufacturing Enterprises List Released in Hefei

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The List Included 14 Enterprises Rooted in Anhui

HEFEI, China, Sept. 22, 2024 /PRNewswire/ — On September 20, 2024, China Enterprise Confederation (CEC) and China Enterprise Directors Association (CEDA) unveiled the 2024 Top 500 Chinese Manufacturing Enterprises list at the World Manufacturing Convention (WMC).

Leading the pack are Sinopec Group, China Baowu Steel Group Corporation Limited, Sinochem Group, China Minmetals Corporation, Hengli Group, SAIC Motor Corporation Limited, Huawei, FAW Group, Zhejiang Rongsheng Holding Group, and BYD, making up the top 10.

The threshold for inclusion in the 2024 list has risen to 17.062 billion yuan, marking a 512 million yuan increase from the prior year. Collectively, these companies have reported a total operating revenue of 52.01 trillion yuan, up 1.86% year-on-year.

Innovation continues to be a key driver, with the Top 500 investing 1.23 trillion yuan in research and development (R&D), a 12.51% increase over the previous year. R&D intensity stands at 2.37%, up 0.04 percentage points from a year before. These companies also hold 1.4937 million valid patents, including 717,300 invention patents, representing a 3.85% and 11.35% increase, respectively. The proportion of invention patents has risen to 48.02%, up 3.24 percentage points from the previous year. Overseas expansion is also on a steady trajectory, with the Top 500 reporting foreign assets totaling 7.29 trillion yuan, up 5.81% from the previous year, and overseas operating revenues of 7.13 trillion yuan.

Geographically, Zhejiang, Shandong, Jiangsu, Guangdong, and Hebei boast the highest number of companies among the Top 500.

Fourteen companies from Anhui, including Chery Holding, Tongling Nonferrous Metals Group, Conch Group, Sungrow, Anhui Truchum Advanced Materials & Technology, JAC Group, Gotion High-tech, Shanying International, Honglu Steel Structure, Tiankang Group, Zhongding Group, Gujing Group, Tongling Chemical Industry Group, and Tongling Jingda Special Magnet Wire, have secured a place on the list.

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Hyundai Motor and Škoda Group to Collaborate on Hydrogen Advancement and Energy Efficient Solutions for Mobility

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  • Hyundai Motor Company and Škoda Group sign a Memorandum of Understanding (MOU) during the Korea-Czech Business Summit in Prague
  • Both parties to cooperate in establishing a hydrogen economy and realizing a sustainable future mobility ecosystem
  • Škoda Group to explore hydrogen mobility expansion by adopting Hyundai’s hydrogen fuel cell systems and technologies

SEOUL, South Korea and PRAGUE, Sept. 20, 2024 /PRNewswire/ — Hyundai Motor Company and Škoda Group have signed a Memorandum of Understanding (MOU) to commence collaboration on establishing a hydrogen mobility ecosystem.

The signing ceremony, which took place at the Korea-Czech Republic Business Summit in Prague, was attended by Ken Ramírez, Executive Vice President and Head of Global Commercial Vehicle and Hydrogen Business at Hyundai Motor Company, and Petr Novotný, CEO of Škoda Group.

The MOU covers study on adoption of hydrogen fuel cell systems and technologies, study on adoption of energy efficient solutions for mobility projects and products, and exploring hydrogen ecosystem and value chain opportunities beyond mobility.

“Our partnership with Škoda Group aims to accelerate hydrogen adoption, which would contribute to the advancement of hydrogen technology and carbon neutrality across global markets, including the Czech Republic,” said Executive Vice President Ramírez. “Together with Škoda Group, we strive to lead the rapidly growing hydrogen businesses by creating positive synergies between our fuel cell technology and Škoda Group’s mobility products and projects.”

“We believe that hydrogen, alongside energy-efficient solutions, will play an essential role in transforming mobility for a more sustainable future. Our collaboration with Hyundai Motor Company aims at enabling us to look beyond national borders and explore wider markets where these technologies can have a larger impact. By working together, we can bring innovative, eco-friendly solutions to the global mobility ecosystem, advancing cleaner energy in the areas where it’s needed most,” said Petr Novotný, CEO of Škoda Group.

Both parties share the view that hydrogen will be a key pillar for a sustainable society, starting with mobility. As part of the MOU, the parties will explore the possibility that Hyundai would share its fuel cell system and technology, contributing to the acceleration of eco-friendly mobility across global markets where Škoda Group operates, including the Czech Republic.

Hyundai Motor Company and Škoda Group will also conduct feasibility studies for fuel cell system applications for diverse utilization beyond mobility. Leveraging its global expertise and insights in operating various hydrogen applications in both mobility and energy sectors, Hyundai is poised to play a pivotal role in aiding the energy transition.

Hyundai Motor Group is committed to building a hydrogen society under its hydrogen value chain business brand HTWO, which encompasses the Group’s businesses and affiliates, enabling each stage of the entire hydrogen value chain.

Hyundai Motor Manufacturing Czech (HMMC) in Nošovice, established in 2008, has an annual manufacturing capacity of 350,000 vehicles. Considered one of the most modern car manufacturers in Europe, the manufacturing plant was also the largest foreign investment in the Czech Republic.

– End –

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