Crypto Market Crashed

SOL, ADA, MATIC Tokens Slide 20% in Sudden Move Days After SEC Lawsuit Allegations

Tokens of major blockchain networks slid more than 20% in the past 24 hours amid a likely risk-off event days after 13 tokens were alleged as securities in a U.S. Securities and Exchange Commission (SEC) lawsuit against crypto exchanges Binance and Coinbase.

The bulk of these losses came in the wee hours of Saturday, data shows. Solana (SOL), polygon (MATIC) and cardano (ADA) fell as much as 25% within hours – leading some on Crypto Twitter to wonder if a major crypto fund sold their holdings amid rather illiquid market conditions.

Such moves pushed weekly declines for these tokens to as much as 34%, the data shows.

As such, major tokens such as bnb (BNB), dogecoin (DOGE), xrp (XRP) fell over 11%. Bitcoin (BTC) dropped 3.6% while ether (ETH) slid 4.5%.

Crypto-tracked futures saw nearly $300 million in liquidations in the early hours on Saturday, data from Coinglass show, exceeding the nine-month record liquidation figures from earlier this week.

Crypto liquidation refers to the process of forcibly closing a trader's positions in the cryptocurrency market. It occurs when a trader's margin account can no longer support their open positions due to significant losses or a lack of sufficient margin to meet the maintenance requirements.

 

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Forex MegaDroid Robot

Forex MegaDroid is the latest RCTPA Driven Robot, which has A.I or artificial intelligence breakthroughs in technology. Now you can see the instant future of Forex on a single program that provides you with over 95% accuracy.

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They built the robot with integrated long-term solutions based on their studies in Forex strategies. Thus, the programming of the computers was designed to fit the Forex strategies to the letter. They used unique and profitable “multi-market condition” robots to make the latest program.

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RCTPA Technology was used to create one of the most innovative profitable and accurate systems. There is advanced A.I. solutions that provide you with extreme performance and accuracy. There is unheard of consistency with the latest artificial intelligence that makes the MegaDroid one of the best programs available to the Forex market. Perrie and Grace used “38-years” of experience and combined it with the latest and past Forex trading solutions to build and design the MegaDroid. Using RCTPA (Reverse Correlated Time and Price Analysis), the two men designed the MegaDroid with winning in mind.

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Forex - Dollar selling continues; euro breaks above 1.32 usd mark

LONDON (AFX) - Dollar selling continued into the afternoon, with the euro breaking through the 1.32 usd mark for the first time in over five weeks

The selling was sparked in Asian trade overnight after reports yesterday that the Korean central bank plans to diversify its reserves away from the US dollar. A spokesman for the Bank of Korea was quoted as saying in a report to parliament that as foreign exchange reserves increase, the central bank "will expand its investment into non-government papers, which carry relatively high yields, and diversify the currencies in which it invests"

Dow Jones at lowest level in 12 years as DAX also suffers

The Dow Jones closed yesterday at its lowest level since 1997, causing stock markets around the world to go into freefall.

Japan’s Nikkei Index plunged 1.5 per cent, and the German DAX indexopened down nearly one per cent.

The first horror reports came from Frankfurt yesterday. For the first time in more than four years, the Deutsche Aktien Index (DAX) has fallen under 4,000 points.

It closed on Monday at 3936.45 points – a drop of 1.95 per cent and the lowest it has been in four years.

“The negative US shares were the triggers,” said a broker. Shares in car companies suffered the most dramatic drops.

Uncertainty over President Barack Obama’s steps to help the financial crisis is affecting the US market.

And the situation is getting worse on Wall Street.

In New York, the Dow Jones fell by 3.14 per cent to 7114.78 points. After it had crashed to its lowest point since October 1997, the Nikkei Index also began to plunge.

It fell 107.6 points, or 1.46 per cent, to 7268.56 points. TOPIX suffered a loss of 5.00 points or 0.68 per cent, finishing at 730.28 points.

Study says NY could lose $3B, 40,000 jobs due to Wall Street collapse

A new projection shows Wall Street's meltdown could cost New York up to 40,000 private sector jobs and $3 billion in tax revenues over the next two years, two state officials said Thursday.

The revised numbers in the snapshot of worst case estimates was done Wednesday at the highest levels of government. They are worse than Gov. David Paterson's estimate just Tuesday that the state would lose about $1 billion in revenue because of plummeting stock values and the need for federal bailouts of the financial sector.

Wall Street is a major economic force in New York state, generating one-fifth of the state's revenues each year.

The officials, including one senior administration official, spoke to The Associated Press on the condition of anonymity because they weren't authorized to comment on the fiscal analysis.

Both the revenue and job hits would be substantial. The total state budget including federal funds is about $120 billion. New York has about 7.25 million private-sector jobs, after losing 6,500 jobs, or 0.1 of 1 percent, in July. Employment had already declined in five of the first seven months of the year.

On Thursday, New York Assembly Speaker Sheldon Silver of Manhattan said a diminished Wall Street poses "monumental" economic challenges for the state, leading to lower wages and lower employment growth. He said that in late August, the state's foundering financial sector had already shed more than 30,000 over the previous 10 months, citing an analysis by the Financial Times.

The new analysis includes the stock market drop, lost revenue from transactions and projected lost income tax revenue from Wall Street jobs.

State officials used the model of fiscal damage to New York after the Sept. 11, 2001, terrorist attacks. Then, Gov. George Pataki said it was the state's worst financial hit since the Great Depression 70 years earlier.

There are still threats to the future of Wall Street fixtures. Three of its five major investment banks -- Bear Stearns, Lehman Brothers and Merrill Lynch -- have either gone out of business or been driven into the arms of other banks. The two remaining -- Goldman Sachs Group Inc. and Morgan Stanley -- were under siege.

The state officials caution that they are still trying to estimate how many jobs might remain in Manhattan.

"We're in some serious times," Paterson said Tuesday. "It's going to get worse before it gets better."

State Division of Budget spokesman Jeffrey Gordon wouldn't confirm the numbers. He said officials will look to business tax and payroll tax figures expected in coming weeks to help estimate the damage.

For example, he said more than 27,000 employees have already lost or are at risk of losing their jobs because of decisions by major financial institutions to close or merge. But whether those jobs will be transferred or kept in some form may not be known for weeks.

Forex Charts Introduction

Even if you are not a technical analyst it is important to learn how to read forex charts. The fact of the matter is that it is virtuallyimpossible to get a proper assessment of the value of the forex market with out knowledge of chart patterns.

There are numerous chart types used in forex market analysis, but in a lot of them the following patterns often emerge. As a trader, it is to your advantage to learn their meaning and relation to price movement and market direction.

Trendlines, as the name suggests, are forex chart patterns used by traders to analyze forex prices and market direction. Trendline charts consist of an inclining line, representing a price uptrend, and a declining line. If the declining streak goes through the price bars it is a sign that the price is on a downward path.

Trendline charts also have support (floor) and resistance (ceiling) levels, which are seen as parapets for prices. Most forex charts of this type also use channels: inclining parallel beams, declining and sideway beams, representing all possible price movement in the forex. These channels are used by technicians to determine when to buy or sell.

Another frequent chart pattern are triangles. The names of these patterns, are, of course, derived from the movement of the price bars, and in this case they resemble the aforementioned geometrical shape. Often the price bars form a shape like a symmetrical triangle, and when the pattern breaks at the top, it is an indicator to go long, and at down, it is time to sell.

Ascending Triangles, or Right Triangles, also come up frequently. Because the propensity of Right Triangles are breaks in the upper part, this forex chart pattern is used as a buy indicator. Descending Triangles, of course, are indicative of a downtrend.

Non symmetrical Triangles are also technical indicators of price uptrends or downtrends. Depending on the slope, chartists may go long or short. Pennants, on the other hand, resemble triangular forex chart patterns, except that they are broader. The split on the upper region is, as with the other charts, representative of a buy signal.

Trendlines, triangles and pennants are just a few of the numerous forex chart patterns that a forex trader will encounter in technical and fundamental analysis. By learning how to interpret the above-mentioned chart patterns, you will gain a better understanding of how and why chart patterns are very important.

* Candle Charts Trend Analysis
* Why Forex Rather Than Stocks
* Potential Dangers in Forex
* Common Indicators For Forex
* Forex Market Characteristics
* Constant Change in Market