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#CKB $CKB
CKB’s trend fading away despite emerging as top gainer
The native token of Nervos Network recorded impressive gains over the past week, but its bullish trend seems to be fading away.
Nervos Network Nervos Network
CKB7.14%Nervos Network emerged as the top gainer among the leading 100 cryptocurrencies with a 140% rally over the past month. Notably, the asset gained 19% in the past 24 hours and is trading at $0.018 at the time of writing — this is the highest level for CKB since June.
CKB’s market cap is currently sitting at $829 million with a daily trading volume of $573 million.Per a crypto.news report, CKB’s price rally started on Sept. 13 after the leading
Korean exchange Upbit listed the asset.
CKB’s trend fading away despite emerging as top gainer
The native token of Nervos Network recorded impressive gains over the past week, but its bullish trend seems to be fading away.
Nervos Network Nervos Network
CKB7.14%Nervos Network emerged as the top gainer among the leading 100 cryptocurrencies with a 140% rally over the past month. Notably, the asset gained 19% in the past 24 hours and is trading at $0.018 at the time of writing — this is the highest level for CKB since June.
CKB’s market cap is currently sitting at $829 million with a daily trading volume of $573 million.Per a crypto.news report, CKB’s price rally started on Sept. 13 after the leading
Korean exchange Upbit listed the asset.
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🔸A breathtaking "collapse" in global financial markets... and experts expect a "stronger shock."
In what resembles a “domino effect,” the indices of the most prominent global financial markets and stock exchanges in Europe, Asia, and America, and consequently other economies, declined, reinforced by “serious fears of a recession in the American economy,” in addition to a “hot” geopolitical context in which the risks of the expansion of the Middle East conflict have escalated, awaiting the threatened Iranian response in a region that “could ignite at any moment.”
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#MarketDownturn
The digital currency expert drew attention to the fact that “technology companies, currencies and stock exchanges have begun to be affected, which may extend to losses of encrypted financial assets,” amid “a rush to sell assets by major investors,” citing the example of “Warren Buffett,” the CEO of Google, and others who sold large assets they owned.
The same speaker considered that “the effectiveness of the US economy (an indicator of the health of the global economy) is at stake after disappointing results for most American companies during the first half of 2024; which was supported by the acceleration of workers’ operations. In light of the silence of the US Federal Reserve as an indication of the stability of the interest rate; which opened predictions for a recession scenario.”
The digital currency expert drew attention to the fact that “technology companies, currencies and stock exchanges have begun to be affected, which may extend to losses of encrypted financial assets,” amid “a rush to sell assets by major investors,” citing the example of “Warren Buffett,” the CEO of Google, and others who sold large assets they owned.
The same speaker considered that “the effectiveness of the US economy (an indicator of the health of the global economy) is at stake after disappointing results for most American companies during the first half of 2024; which was supported by the acceleration of workers’ operations. In light of the silence of the US Federal Reserve as an indication of the stability of the interest rate; which opened predictions for a recession scenario.”
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#MarketDownturn
🔸“A result, not a cause”
Badr Balaj, an expert in digital currency markets, estimated, based on his follow-up of the “Monday collapse,” that “the total digital currency market fell below $2 trillion to reach $1.85 trillion,” considering that “digital currency traders (encrypted) faced significant losses, as major digital currencies, including Bitcoin and Ether, witnessed a sharp decline; leading to the liquidation of more than a billion dollars.”
The financial analyst wove many explanations for what happened; however, he stressed that “the decline is not a cause in itself, but rather is a consequence of similar collapses and a result of the collapse of traditional financial markets, after fears of a recession,” continuing to explain: “The portfolio of investors in digital assets usually includes their investments in traditional markets, and they rush in times of crises to resort to getting rid of high-risk financial assets (Bitcoin is one of them), especially after actual indicators of the approaching US economic recession cycle; which increases the risks of collapse.”
In his statement to Hespress, Balaj considered that “traditional financial markets were not only affected by the context of geopolitical tensions, as evidenced by the fact that the Iranian strike months ago did not have the impact we saw today”; rather, the reason is the employment data in the United States of America, which indicated an increase in the American unemployment rate.
🔸“A result, not a cause”
Badr Balaj, an expert in digital currency markets, estimated, based on his follow-up of the “Monday collapse,” that “the total digital currency market fell below $2 trillion to reach $1.85 trillion,” considering that “digital currency traders (encrypted) faced significant losses, as major digital currencies, including Bitcoin and Ether, witnessed a sharp decline; leading to the liquidation of more than a billion dollars.”
The financial analyst wove many explanations for what happened; however, he stressed that “the decline is not a cause in itself, but rather is a consequence of similar collapses and a result of the collapse of traditional financial markets, after fears of a recession,” continuing to explain: “The portfolio of investors in digital assets usually includes their investments in traditional markets, and they rush in times of crises to resort to getting rid of high-risk financial assets (Bitcoin is one of them), especially after actual indicators of the approaching US economic recession cycle; which increases the risks of collapse.”
In his statement to Hespress, Balaj considered that “traditional financial markets were not only affected by the context of geopolitical tensions, as evidenced by the fact that the Iranian strike months ago did not have the impact we saw today”; rather, the reason is the employment data in the United States of America, which indicated an increase in the American unemployment rate.
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#MarketDownturn
Aiss continued in a statement to Hespress: “The reason is basically due to the abnormal and significant inflation that we have witnessed in recent months during the evaluation of the shares of giant technology companies and digital economy players.. and we are currently witnessing re-evaluation and rearrangement of their real value in the markets and stock exchanges.”
The same financial analyst explained that “the possibility of stronger repercussions of this tremor will be experienced by the global economy in the coming days and weeks amid serious growing concerns about the recession of the American economy after a jobs report issued at the end of last week.”
He added, commenting to Hespress: “Everything we notice in terms of the decline in digital economy shares and the value of global currencies makes us face the availability of indicators of a crisis that are available; but have not been announced yet,” stressing that it is “a recession crisis that is very similar to the contexts of 2008; but not with the same reasons and conditions.”
Regarding the expected impact, Tayeb Aiss confirmed that they are “successive collapses of traditional and crypto-asset financial markets, putting us in front of a shock wave with limited impact,” noting that “if the region ignites through a regional conflict, the repercussions will worsen in terms of their repercussions on economic markets.”
Aiss continued in a statement to Hespress: “The reason is basically due to the abnormal and significant inflation that we have witnessed in recent months during the evaluation of the shares of giant technology companies and digital economy players.. and we are currently witnessing re-evaluation and rearrangement of their real value in the markets and stock exchanges.”
The same financial analyst explained that “the possibility of stronger repercussions of this tremor will be experienced by the global economy in the coming days and weeks amid serious growing concerns about the recession of the American economy after a jobs report issued at the end of last week.”
He added, commenting to Hespress: “Everything we notice in terms of the decline in digital economy shares and the value of global currencies makes us face the availability of indicators of a crisis that are available; but have not been announced yet,” stressing that it is “a recession crisis that is very similar to the contexts of 2008; but not with the same reasons and conditions.”
Regarding the expected impact, Tayeb Aiss confirmed that they are “successive collapses of traditional and crypto-asset financial markets, putting us in front of a shock wave with limited impact,” noting that “if the region ignites through a regional conflict, the repercussions will worsen in terms of their repercussions on economic markets.”
See original
#MarketDownturn
Financial analysts and experts, who spoke to Hespress electronic newspaper, downplayed the impact of the factor of “escalating geopolitical tensions in the Middle East between Iran and its proxies on the one hand and Israel on the other hand,” thus suggesting fears of a recession.
These same fears were reinforced by investors’ view that “the US Central Bank (the Federal Reserve) may have maintained its high interest rates for a very long time.”
Cryptocurrency prices fell sharply during Monday’s trading, with the market value falling and daily trading volume rising by more than 200 percent, indicating the escalation of selling pressure by investors in light of the looming global economic and geopolitical risks.
🔸“The beginning of a stronger shock”
While global markets appeared “red,” “the strong selling operations witnessed by markets in America and similar strong economies are the first spark of a state of panic and fear that markets are witnessing at the beginning of trading this week,” explained Moroccan financial analyst Tayeb Aiss, who stressed that it is “only the beginning and the prelude to stronger shocks and tremors that the global economy will witness.”
Financial analysts and experts, who spoke to Hespress electronic newspaper, downplayed the impact of the factor of “escalating geopolitical tensions in the Middle East between Iran and its proxies on the one hand and Israel on the other hand,” thus suggesting fears of a recession.
These same fears were reinforced by investors’ view that “the US Central Bank (the Federal Reserve) may have maintained its high interest rates for a very long time.”
Cryptocurrency prices fell sharply during Monday’s trading, with the market value falling and daily trading volume rising by more than 200 percent, indicating the escalation of selling pressure by investors in light of the looming global economic and geopolitical risks.
🔸“The beginning of a stronger shock”
While global markets appeared “red,” “the strong selling operations witnessed by markets in America and similar strong economies are the first spark of a state of panic and fear that markets are witnessing at the beginning of trading this week,” explained Moroccan financial analyst Tayeb Aiss, who stressed that it is “only the beginning and the prelude to stronger shocks and tremors that the global economy will witness.”
See original
#MarketDownturn
🔸A breathtaking "collapse" in global financial markets..
And experts expect a "stronger shock."
In what resembles a "domino effect," the indicators of the most prominent financial markets and global stock exchanges declined in Europe, Asia and America, and consequently other economies, reinforced by "serious fears of a recession in the American economy" in addition to a "hot" geopolitical context during which the risks of expanding the Middle East conflict escalated, which awaits the promised Iranian response in a region "that may ignite at any moment."
According to what Hespress newspaper followed, global financial and business markets lived to the rhythm of "red trading" throughout Monday; which brought to the minds of economists "historical collapses" that silently marked the history of the global economy, especially the 2008 global financial crisis.
For example, the Japanese Stock Exchange indicators fell to "their lowest level since 1987" before losses accelerated in the global currency market and Asian markets Arab and European, in addition to “unprecedented” losses accumulated by oil and digital cryptocurrencies.
🔸A breathtaking "collapse" in global financial markets..
And experts expect a "stronger shock."
In what resembles a "domino effect," the indicators of the most prominent financial markets and global stock exchanges declined in Europe, Asia and America, and consequently other economies, reinforced by "serious fears of a recession in the American economy" in addition to a "hot" geopolitical context during which the risks of expanding the Middle East conflict escalated, which awaits the promised Iranian response in a region "that may ignite at any moment."
According to what Hespress newspaper followed, global financial and business markets lived to the rhythm of "red trading" throughout Monday; which brought to the minds of economists "historical collapses" that silently marked the history of the global economy, especially the 2008 global financial crisis.
For example, the Japanese Stock Exchange indicators fell to "their lowest level since 1987" before losses accelerated in the global currency market and Asian markets Arab and European, in addition to “unprecedented” losses accumulated by oil and digital cryptocurrencies.
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