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  • 15.05.2019 | Russia boosting gold & dumping dollar from foreign currency reserves




    The Central Bank of Russia reports that foreign exchange reserves saw a significant boost of nearly $3.3 billion in April as the country pursues a policy of increasing its forex funds and diversifying them away from the US dollar. The latest growth of 0.7 percent brought Russian international reserve funds to nearly $492 billion against $487.8 billion seen at the end of March, the latest data published by the regulator shows. The state international reserves are highly liquid foreign assets comprising stocks of monetary gold, foreign currencies and Special Drawing Right (SDR) assets, which are at the disposal of the Central Bank of Russia and the government. According to Elvira Nabiullina, head of the central bank, Russia is diversifying its foreign exchange reserves more than other states because of the economic and political risks that the country is facing. The central bank has reportedly increased holdings of Chinese yuan and lowered the share of US dollars in its reserves over recent months. The country’s key monetary regulator stands ready to use FX swaps and repo operations if it sees a need to calm markets during times of stress, Nabiullina said on Tuesday, speaking at a conference in Zurich. In March, the Central Bank of Russia added nearly 18.7 tons of gold to the county’s vast stockpile of the precious metal. The step reportedly brought Russia’s estimated gold holdings to more than 2,170 tons (69,700,000 ounces), which accounts for nearly 18 percent of the country’s total foreign exchange reserves.         ...

    The Central Bank of Russia reports that foreign exchange reserves saw a significant boost of nearly $3.3 billion in April as the country pursues a policy of increasing its forex funds and diversifying them away from the US dollar.

    The latest growth of 0.7 percent brought Russian international reserve funds to nearly $492 billion against $487.8 billion seen at the end of March, the latest data published by the regulator shows.

    The state international reserves are highly liquid foreign assets comprising stocks of monetary gold, foreign currencies and Special Drawing Right (SDR) assets, which are at the disposal of the Central Bank of Russia and the government.

    According to Elvira Nabiullina, head of the central bank, Russia is diversifying its foreign exchange reserves more than other states because of the economic and political risks that the country is facing.

    The central bank has reportedly increased holdings of Chinese yuan and lowered the share of US dollars in its reserves over recent months. The country’s key monetary regulator stands ready to use FX swaps and repo operations if it sees a need to calm markets during times of stress, Nabiullina said on Tuesday, speaking at a conference in Zurich.

    In March, the Central Bank of Russia added nearly 18.7 tons of gold to the county’s vast stockpile of the precious metal. The step reportedly brought Russia’s estimated gold holdings to more than 2,170 tons (69,700,000 ounces), which accounts for nearly 18 percent of the country’s total foreign exchange reserves.

     

     

     

     


    15.05.2019 | XRP Price Fails to Hang on to $0.4 but Uptrend Isnt Broken




    It has been a very interesting day for all cryptocurrencies, tokens, and assets. Although the big gains are literally spread out across the board, the XRP price has noted some incredibly bullish momentum. It even surpassed $0.42 at one point, although the trend has calmed down a bit. The ongoing mirroring of Bitcoin’s price trend could negate the remaining gains rather quickly. Where is the XRP Price Headed? A very peculiar albeit somewhat predictable trend is forming across all markets. Bitcoin’s bull run is showing signs of slowing down, which will inevitably allow altcoins to reclaim some lost value in the process. As far as XRP is concerned, the market seemingly couldn’t care less about what is happening to Bitcoin. This popular asset has engaged all of the pumps in a rather convincing manner. To put this in perspective, the XRP price has risen by 19.2% to $0.391241. This is not the highest value XRP has reached today, albeit the top at $0.42 was not sustainable for more than a few hours on end. Traders will also be pleased to learn the XRP/BTC ratio has finally shown signs of improvement. An 18% increase pushes the ratio back to 4,950 Satoshi, albeit temporarily. It is always difficult to determine if there is any specific reason for this market push. One thing is certain: Coinbase users in New York can now buy, sell, and convert XRP through the trading platform. The same functionality is available across the mobile apps for iOS and Android as well. A positive development for New York-based traders, who are often left out in the cold. Others are simply cheering on from the sidelines.FreeZeeg is one of those individuals, as he expects XRP to become the winner of this ongoing bull run. There is certainly a chance the popular asset will continue to surprise a lot of people, albeit it is possible the whole industry-wide bull run will come to an end this week. Turkish traders are still active on Twitter, which is always good to see. The user below expects a massive run to 6,000 Satoshi in the coming days and weeks. That would certainly be impressive in its own regard, albeit one also has to admit it is incredibly unlikely. That would require another 20% increase in XRP/BTC, which would also send the XRP value itself up by another 20% if Bitcoin doesn’t drop further. All things considered, it is evident there is a lot of momentum happening right now. Some markets are heading in the right direction, whereas others need a much-required breather. The coming days will remain very entertaining for those who are in it to make a quick buck, albeit the risks may not outweigh potential rewards. Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.     #s3gt_translate_tooltip_mini { display: none !important; }...

    It has been a very interesting day for all cryptocurrencies, tokens, and assets. Although the big gains are literally spread out across the board, the XRP price has noted some incredibly bullish momentum. It even surpassed $0.42 at one point, although the trend has calmed down a bit. The ongoing mirroring of Bitcoin’s price trend could negate the remaining gains rather quickly.

    Where is the XRP Price Headed?

    A very peculiar albeit somewhat predictable trend is forming across all markets. Bitcoin’s bull run is showing signs of slowing down, which will inevitably allow altcoins to reclaim some lost value in the process. As far as XRP is concerned, the market seemingly couldn’t care less about what is happening to Bitcoin. This popular asset has engaged all of the pumps in a rather convincing manner.

    To put this in perspective, the XRP price has risen by 19.2% to $0.391241. This is not the highest value XRP has reached today, albeit the top at $0.42 was not sustainable for more than a few hours on end. Traders will also be pleased to learn the XRP/BTC ratio has finally shown signs of improvement. An 18% increase pushes the ratio back to 4,950 Satoshi, albeit temporarily.

    It is always difficult to determine if there is any specific reason for this market push. One thing is certain: Coinbase users in New York can now buy, sell, and convert XRP through the trading platform. The same functionality is available across the mobile apps for iOS and Android as well. A positive development for New York-based traders, who are often left out in the cold.

    Others are simply cheering on from the sidelines.FreeZeeg is one of those individuals, as he expects XRP to become the winner of this ongoing bull run. There is certainly a chance the popular asset will continue to surprise a lot of people, albeit it is possible the whole industry-wide bull run will come to an end this week.

    Turkish traders are still active on Twitter, which is always good to see. The user below expects a massive run to 6,000 Satoshi in the coming days and weeks. That would certainly be impressive in its own regard, albeit one also has to admit it is incredibly unlikely. That would require another 20% increase in XRP/BTC, which would also send the XRP value itself up by another 20% if Bitcoin doesn’t drop further.

    All things considered, it is evident there is a lot of momentum happening right now. Some markets are heading in the right direction, whereas others need a much-required breather. The coming days will remain very entertaining for those who are in it to make a quick buck, albeit the risks may not outweigh potential rewards.


    Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.

     

     


    #s3gt_translate_tooltip_mini { display: none !important; }


    15.05.2019 | Ethereum Price Analysis ETH Managed to Carry on Rising




    The ETH is rising for the second day in a row, trading around $208.62 on May 14, following the BTC and other cryptos. On D1, Buterin’s coin continues its uptrend, with the price having reached the current channel resistance. Once the latter gets broken out, the crypto will be able to reach the projection channel resistance at $257.60, or 23.60% Fibo; the rise may then continue even further. The support is meanwhile at $160. On H4, the ETH is testing the current channel resistance, and may pull back in the short term, once the local support is broken out and the price heads to 23.60% Fibo, or $199.52. The next targets are lying at 38.20%, or $189.93, and 50%, or $182.13. Ethereum is getting ready for a huge update that would raise the transaction speed and improve security. The new Sapphire network based on Casper PoS protocol for Ethereum 2.0 is now working in sandbox mode, and the users may already test a new mining scheme, ETH stacking. Unlike traditional mining, in this mode, one may store crypto coins on in-built wallets. The coins may be then transferred from the sandbox to the new network, and both penalties and rewards may be earned. The sandbox environment has no smart contract access yet, and the number of validators is limited, but these limits are to be lifted in the future. Ethereum 2.0 is going to become quicker, safer, and more cost-effective. The transaction speed is going to be 1,000 TPS, which is impressive. Any predictions contained herein are based on the authors’ particular opinion. This analysis shall not be treated as trading advice. RoboForex shall not be held liable for the results of the trades arising from relying upon trading recommendations and reviews contained herein.     ...

    The ETH is rising for the second day in a row, trading around $208.62 on May 14, following the BTC and other cryptos.

    On D1, Buterin’s coin continues its uptrend, with the price having reached the current channel resistance. Once the latter gets broken out, the crypto will be able to reach the projection channel resistance at $257.60, or 23.60% Fibo; the rise may then continue even further. The support is meanwhile at $160.

    On H4, the ETH is testing the current channel resistance, and may pull back in the short term, once the local support is broken out and the price heads to 23.60% Fibo, or $199.52. The next targets are lying at 38.20%, or $189.93, and 50%, or $182.13.

    Ethereum is getting ready for a huge update that would raise the transaction speed and improve security. The new Sapphire network based on Casper PoS protocol for Ethereum 2.0 is now working in sandbox mode, and the users may already test a new mining scheme, ETH stacking. Unlike traditional mining, in this mode, one may store crypto coins on in-built wallets. The coins may be then transferred from the sandbox to the new network, and both penalties and rewards may be earned.

    The sandbox environment has no smart contract access yet, and the number of validators is limited, but these limits are to be lifted in the future. Ethereum 2.0 is going to become quicker, safer, and more cost-effective. The transaction speed is going to be 1,000 TPS, which is impressive.

    Any predictions contained herein are based on the authors’ particular opinion. This analysis shall not be treated as trading advice. RoboForex shall not be held liable for the results of the trades arising from relying upon trading recommendations and reviews contained herein.

     

     


    15.05.2019 | RIP Cryptopia? Services Halted and Liquidators Appointed




    After confirming a hack back in January where the New Zealand based exchange lost over 9% of its holdings, Cryptopia has once again shut down its services after an 8 hour downtime this time for good. Visiting the official Cryptopia website, users are greeted with the following message: “David Ruscoe and Russell Moore from Grant Thornton New Zealand were yesterday appointed liquidators of Cryptopia Despite the efforts of management to reduce cost and return the business to profitability, it was decided the appointment of liquidators was, in the best interests of customers, staff and other stakeholders. The liquidators are focused on securing the assets for the benefit of all stakeholders. While this process and investigations take place, trading on the exchange is suspended. “Given the complexities involved we expect the investigation to take months rather than weeks.” The liquidators are also working with independent experts and the relevant authorities with regards to the company’s obligations. Grant Thornton will be contacting all customers and suppliers about its appointment in the next few days. Further enquiries, please email liquidation@cryptopia.co.nz” The above message was posted after an 8 hour downtime where users suspected that another hack occurred. Initially, Cryptopia reopened deposits and withdrawals back in April which allowed users to claim a certain percentage of their balances. Despite their attempt to resume business as usual and with the recent price rise of cryptocurrency, Cryptopia was unable to “to reduce cost and return the business to profitability.” As such, liquidators were appointed who will work with the exchange to secure assets and return as much of them as possible to affected users. As is usually the case, such an investigation will take many months to complete. Users should expect some sort of contact from Grant Thornton for further steps, most likely via the email used on the exchange.     ...

    After confirming a hack back in January where the New Zealand based exchange lost over 9% of its holdings, Cryptopia has once again shut down its services after an 8 hour downtime this time for good.

    Visiting the official Cryptopia website, users are greeted with the following message:

    “David Ruscoe and Russell Moore from Grant Thornton New Zealand were yesterday appointed liquidators of Cryptopia

    Despite the efforts of management to reduce cost and return the business to profitability, it was decided the appointment of liquidators was, in the best interests of customers, staff and other stakeholders.

    The liquidators are focused on securing the assets for the benefit of all stakeholders. While this process and investigations take place, trading on the exchange is suspended.

    “Given the complexities involved we expect the investigation to take months rather than weeks.”

    The liquidators are also working with independent experts and the relevant authorities with regards to the company’s obligations.

    Grant Thornton will be contacting all customers and suppliers about its appointment in the next few days.

    Further enquiries, please email liquidation@cryptopia.co.nz”

    The above message was posted after an 8 hour downtime where users suspected that another hack occurred. Initially, Cryptopia reopened deposits and withdrawals back in April which allowed users to claim a certain percentage of their balances.

    Despite their attempt to resume business as usual and with the recent price rise of cryptocurrency, Cryptopia was unable to “to reduce cost and return the business to profitability.” As such, liquidators were appointed who will work with the exchange to secure assets and return as much of them as possible to affected users.

    As is usually the case, such an investigation will take many months to complete. Users should expect some sort of contact from Grant Thornton for further steps, most likely via the email used on the exchange.

     

     


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