2023-11-24 16:17

Digital asset ARB has indicated a promising recovery in its recent price movement, according to market analysts. The cryptocurrency, which had dipped to a low of $0.74, has made a turnaround, trading at $1.01 on Binance today. The analysts interpret this rebound as a healthy market correction and suggest that ARB could potentially grow to reach $1.35. The analysts' forecast hinges on the stability of Bitcoin (BTC), which needs to hold its value above the critical $33K-$35K threshold. They emphasize the importance of ARB retesting past resistance levels to maintain its stability and continue its upward trajectory. Nonetheless, the analysts clarify that their market review should not be taken as financial advice. InvestingPro Insights As digital asset ARB continues to show signs of recovery, investors are keen on understanding the broader market context and how it could influence ARB's trajectory. A look at the real-time data from InvestingPro reveals a set of metrics that may provide additional insight into the market's dynamics. The market capitalization of a leading player in the digital assets space, adjusted to reflect current valuations, stands at a staggering $1.51 trillion USD. This indicates the massive scale and influence of major entities within the industry, potentially impacting the trends and stability of smaller assets like ARB. Revenue growth is also a critical factor to consider, with the last twelve months as of Q3 2023 showing a 10.32% increase. This steady growth could be a sign of a robust market environment that supports the ongoing recovery and future potential of cryptocurrencies, including ARB. InvestingPro Tips suggest that the PEG Ratio, which measures a company's valuation against its earnings growth rate, stands at 1.04 for the last twelve months as of Q3 2023. This ratio is close to the ideal benchmark of 1, implying that the company's stock price is in line with its expected earnings growth, which could be a positive sign for investors looking at the broader market sentiment. For those looking to delve deeper into the analysis, InvestingPro offers a suite of additional tips, with a total of 15 more detailed insights currently available. These tips could provide valuable information for investors considering the potential of ARB in relation to market leaders. Moreover, with the InvestingPro subscription now on a special Black Friday sale, investors can access these insights at a discount of up to 55%. This offer could be an opportune moment for those seeking in-depth market data and analysis to inform their investment decisions. https://www.investing.com/news/cryptocurrency-news/arb-token-shows-signs-of-recovery-eyes-135-target-93CH-3242925

2023-11-24 15:37

Copyrighted Image by: Jakub Porzycki via Reuters Connect In a recent development in the cryptocurrency industry, Tether and Bitfinex have consented to a Freedom of Information Law (FOIL) request seeking transparency reports, signaling a significant shift in their approach to public disclosures. This move comes after the companies faced criticism for their initial resistance to releasing full documents, citing concerns over sensitive commercial information and customer data privacy. The FOIL request, initiated by CoinDesk, aimed to shed light on Tether and Bitfinex's operations following an $18.5 million settlement with the New York Attorney General (NYAG) in February 2021. As part of the settlement, the companies were mandated to provide regular reports for two years, detailing their financial practices and ensuring compliance with regulatory standards. Despite their advocacy for transparency, Tether and Bitfinex initially opposed the FOIL due to fears that confidential customer data and sensitive commercial details could fall into the hands of malicious entities. The companies expressed concerns over unprofessionalism and bias from journalists and media outlets, emphasizing the need for ethical journalism standards. However, as of today, Tether and Bitfinex have dropped their opposition. They are now acknowledging the importance of transparency while continuing to stress the significance of protecting customer data and upholding ethical journalism practices. This concession aligns with Tether's earlier stance on prioritizing transparency over litigation, which was evident when they did not resist CoinDesk's FOIL request earlier in the year. CryptoSlate has expressed interest in obtaining more information regarding this FOIL request, highlighting the ongoing scrutiny surrounding iFinex Inc., the Hong Kong-based proprietorship of both Tether and Bitfinex. The company's decision to accede to the journalist trio's FOIL request is seen as a commitment to transparency, ethical journalism standards, and respect for data privacy within the cryptocurrency sector. https://www.investing.com/news/cryptocurrency-news/tether-and-bitfinex-yield-to-foil-request-amid-transparency-debate-93CH-3242894

2023-11-24 15:11

Copyrighted Image by: Reuters The cryptocurrency market has witnessed a range of movements with Nexo, a digital asset financial services provider, seeing its market capitalization reach $425.99 million after a weekly increase of 4.7%. Nexo's token price rose to $0.76 or the equivalent of 0.00002007 BTC, with daily trading volumes amounting to $4.11 million. The broader crypto market showed varying performance among different tokens: Nexo was founded by Nexo AG in Zug, Switzerland in 2017 and officially started on April 1st, 2018. It has over half of its one billion token supply in circulation. The platform offers financial services that allow customers to borrow against their digital assets. Additionally, Nexo provides up to 12% annual interest on held NEXO tokens and offers benefits through its Loyalty Program such as improved yields, better borrowing rates, and free withdrawal privileges. The company encourages active participation from its token holders through various social media platforms like Reddit, Github, Twitter, and Facebook (NASDAQ:META) for community engagement and updates on its services and developments. https://www.investing.com/news/cryptocurrency-news/nexo-market-cap-hits-42599-million-amid-diverse-crypto-movements-93CH-3242847

2023-11-24 14:47

Copyrighted Image by: Reuters. In the evolving landscape of cryptocurrency exchanges, Uphold has emerged as the top platform for cross-trading capabilities, according to a recent ranking by Software Testing Help. The exchange, known for its robust offering, allows users to trade over 200 digital currencies, more than 50 stocks, and a variety of metals, equities, and commodities. It also supports transactions involving national currencies across over 150 countries. Uphold's standout feature is its fee structure, which eliminates deposit fees for bank accounts and cards while maintaining minimal withdrawal fees. This user-friendly approach has set it apart from competitors and contributed to its high ranking. Following closely behind in the rankings are SimpleSwap and Zengo, both recognized for their efficient instant swap services. These platforms facilitate quick and straightforward exchanges between different cryptocurrencies without the need for traditional trading interfaces. Bybit also made it into the top ranks, securing the fourth position with its attractive offer of zero spot market maker fees. This incentive is particularly appealing to those looking to provide liquidity on the platform's market without incurring costs. Notably, Binance, despite being the largest exchange by volume, was placed tenth in the rankings. The lower ranking is attributed to its variable fee structure, which scales based on VIP level and trading volumes ranging from under 50 BTC to over 1500 BTC. This complexity in fee calculation can be less appealing to traders who prefer a more straightforward and consistent cost structure. The rankings highlight the importance of competitive fee strategies and user-friendly features in the crypto exchange market, where traders seek platforms that offer not only a wide range of assets but also an efficient and cost-effective trading experience. https://www.investing.com/news/cryptocurrency-news/uphold-leads-in-crosstrading-capabilities-among-crypto-exchanges-93CH-3242836

2023-11-24 14:42

TUNISIA - Tunisia's fruit export sector has experienced a significant decline in revenue and shipment volumes from January through November 21, 2023. The North African nation saw its export earnings fall to TND 142.4 million, marking an 18% decrease compared to the previous year. The total volume of fruit exports also suffered a stark drop, shrinking from nearly 68 thousand tonnes in November last year to about 38 thousand tonnes currently. Libya continues to be the largest importer of Tunisian fruits, accounting for 80% of the exports, which equates to 30.7 thousand tonnes. Other countries importing Tunisian fruits include Italy, with a 12.7% share, the UAE at 2.5%, the Netherlands at 1.3%, and Kuwait at 0.8%. Despite the overall downturn, peaches have remained in high demand among importers, with nearly TND 37 million earned from approximately 10,000 tonnes exported. This figure represents a significant portion of Tunisia's total fruit export revenue. Other notable contributions to the export figures come from pomegranates, watermelons, and apples. The decline in exports has been attributed to more expensive production costs and adverse weather conditions that have impacted fruit harvests and export logistics. As of today, Libya remains a consistent trading partner for Tunisia despite its own challenges, importing over TND 105.6 million worth of fruits this year. In stark contrast, Italy's imports have seen a considerable decrease both in value and volume, dropping to TND 3.6 million from TND 5.2 million and from a third of last year's November tonnage down to just around a quarter this year. Meanwhile, the UAE's purchases amounted to TND 11.5 million for less than a thousand tons. The Tunisian fruit export industry is grappling with these challenges as it navigates through an economically strained period marked by lower income from one of its key agricultural sectors. https://www.investing.com/news/commodities-news/tunisia-fruit-exports-drop-18-amid-production-and-weather-woes-93CH-3242831

2023-11-24 14:36

The cryptocurrency exchange HTX, previously known as Huobi, has experienced a series of security breaches over recent months, culminating in a significant hot wallet hack on Wednesday that resulted in the loss of $30 million. Justin Sun, the advisor to HTX, immediately addressed the incident, assuring users that their funds were safe and that they would be fully compensated. Despite the setback, HTX announced on Thursday morning that services had been resumed within 24 hours of the breach, emphasizing the minor impact of the loss on its overall funds. The exchange has faced a tumultuous period since its rebranding in September when it was first compromised with an $8 million loss. This was followed by another attack on November 22 that led to a $13.6 million loss and the compromise of the Heco bridge with an $86.6 million theft. Additionally, Poloniex, another operation under Justin Sun's purview, suffered a massive $100 million theft on November 10 due to what some suspect as mishandling of private keys. In total, these security issues have resulted in staggering losses totaling $208 million for Sun’s cryptocurrency ventures in just two months. In response to these incidents, Sun has repeatedly promised investor compensation and has spoken about implementing enhanced security measures to prevent future breaches. However, skepticism remains high within the crypto community, especially after Hacken suggested possible insider involvement and critiques arose regarding lax security protocols. Moreover, market watchers have noted unusual spikes in the value of TRX following these hacking incidents, sparking discussions around potential market manipulation or strategic moves by influential players. As HTX attempts to navigate through these challenges and restore trust among its users, the broader implications for market confidence in cryptocurrency exchanges remain under scrutiny. https://www.investing.com/news/cryptocurrency-news/htx-suffers-30-million-theft-vows-to-enhance-security-93CH-3242829