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Inflation Cools as Crypto Continues to Build

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Inflation Cools as Crypto Continues to BuildMacroeconomic indicators in the U.S. came in lower than expected, potentially modifying the trajectory moving forward, signaling interest cate to begin in May. Although Walmart beat expectations by recording 5.2% revenue growth, consumers are behaving more cautiously now and trying to save money, showing that the spending spree is finally coming to an end, which would also help cool down inflation. Crypto futures saw the most liquidations in three months, with ~300M liquidated on November 14, in both long and short positions. Bitcoin increased by 1.18%, while Ethereum fell by 2.02%. The biggest winners of last week’s rally were Avalanche (11.6%), Cardano (7.5% in total value locked), and Maker (5.85% in TVL).

Macroeconomic indicators in the U.S. came in lower than expected, potentially modifying the trajectory moving forward, signaling interest cate to begin in May. Although Walmart beat expectations by recording 5.2% revenue growth, consumers are behaving more cautiously now and trying to save money, showing that the spending spree is finally coming to an end, which would also help cool down inflation. Crypto futures saw the most liquidations in three months, with ~300M liquidated on November 14, in both long and short positions. Bitcoin increased by 1.18%, while Ethereum fell by 2.02%. The biggest winners of last week’s rally were Avalanche (11.6%), Cardano (7.5% in total value locked), and Maker (5.85% in TVL).

In this report, we’ll break down inflation data announced last week and what it means for crypto. We’ll also discuss how Tether is doubling down on Bitcoin mining in three South American countries, and why Cosmos is exploring amendments to its monetary policy.

Figure 1: Weekly Price and TVL Developments of Cryptoassets in Major Sectors

Source: 21Shares, CoinGecko, DeFi Llama. Close data as of November 21, 2023.

5 Things to Remember in Markets this Week:

Inflation Was Flat in October

The consumer price index (CPI) came lower than expected, increasing by 3.2% year-over-year, however unchanged from last month. On the other hand, retail sales dropped for the first time in seven months by 0.1%, while the production price index (PPI) declined by 0.5%, the sharpest decline in three and a half years. Applications for jobless claims rose by 13K, the most in three months. What do all these figures mean for crypto? This, coupled with slowed consumer spending and a slowing labor market, would all be giving the Federal Reserve a better signal that rate cuts could be put to sleep however Susan Collins, President of the Federal Reserve Bank of Boston, argued otherwise. With the US dollar index declining to a two-month low, this uncertainty on the macro level is positive for alternative, risk-on assets like crypto and equities, which are historically resorted to as a hedge against currency debasement.

Figure 2: Comparison Between the Performance of the Dollar index, Bitcoin, Gold, and S&P500

Source: Yahoo Finance

Tether Targets South America for its $500M Investment in Bitcoin Mining

The biggest stablecoin issuer, Tether, is further diversifying its revenue streams by building Bitcoin mining facilities in Uruguay, Paraguay, and El Salvador, as well as investing in existing facilities. With each facility ranging between 40 and 70 megawatts, Tether is aiming to occupy 1% of the computational power running the entire Bitcoin network. To gauge the success rate of Tether’s venture, we need to draw comparisons with the world’s biggest Bitcoin mining capacities. Previously headquartered in Hong Kong, BIT Mining Limited has accrued $6.4M in service fee revenue in Q3, thanks to its 82.5-megawatt space in Ohio. The cost of electricity should also be a point of reference. As of March 2023, electricity costs for businesses in Uruguay were $0.118 per kilowatt per hour, Paraguay ($0.045), and El Salvador ($0.210), versus $0.142 in the U.S. While Chinese Bitcoin miners face potential crack down in the U.S., opportunities rise in smaller, crypto-friendlier economies, looking to benefit from this burgeoning asset class. Being the first country to adopt Bitcoin as a legal tender back in 2021, El Salvador’s sovereign bonds are surging by 90% YTD, inline with the rally speculating a potential spot Bitcoin ETF in the U.S.

Consensys Beginning to Decentralize Infura

As a refresher, Infura is a backend-as-a-service tooling that allows applications to transmit and connect their requests to Ethereum and other EVM-compatible blockchains like Avalanche, Polygon and others. That said, Consensys has collaborated with 18 companies, including Microsoft, Tencent, and crypto-native companies like Pokt network, Covalent, and Chainstack, to begin building Infura’s Decentralized Infrastructure Network (DIN). This is a vital development as the tooling offers a failover switch where users can reallocate their services between different providers if one fails to honor requests, thus helping to address the single point of failure plaguing crypto’s backend infrastructure. An issue which became apparent in 2022 when Metamask and numerous Ethereum applications encountered disruptions as a result of an outage experienced by Infura. While the full attainment of decentralization requires onboarding more truly crypto-native companies, this current initiative represents a positive step forward in fortifying the resilience of the crypto’s infrastructure.

Cosmos Exploring Amendments to its Monetary Policy

The Cosmos community is currently engaged in voting on a proposal aiming to decrease the network’s inflation from 14% to 10%. If approved, this adjustment would reduce the staking APR from the current 19% to 13.4%. While this proposal addresses the challenge of ATOM’s high inflation, which dilutes the token’s value, it highlights a utility conundrum. ATOM lacks a clear role in facilitating access to the Interchain security economy powered by its InterBlockchain Communication protocol (IBC). This absence of a distinct value proposition beyond its attractive staking yield may prompt some validators, especially smaller operators, to unbond, potentially leading to increased centralization and compromising IBC security. The voting period extends until November 25, and initial indications suggest a 55% approval rate. That said, the Cosmos network is experiencing heightened chain activity, evidenced by increased fees and active users, reaching a YTD peak, as illustrated in Figure 5, which we’ll be closely monitoring over the next few days.

Figure 3: Growth of Active Users and Fees on the Cosmos Network

Source: Token Terminal

Another Leading Exchange is Launching its Own Polygon-Based Network

OKX, The third largest spot and sixth derivatives exchange, will leverage Polygon’s modular Chain Development Kit (CDK) framework to launch its own blockchain. OKX has close to 50M users, with close to 23M active monthly users, and processed a rough daily average of ~$1B throughout 2023, which could bring about significant growth to the on-chain ecosystem if it bridges this substantial capital and user-base. This integration positions OKX alongside Kraken and Coinbase as the third exchange to become part of the Ethereum ecosystem to tap into the extensive liquidity and user base.

Beyond diversifying revenue streams, akin to Base’s success with $5.4M in accrued profits since launch, OKX’s move contributes to Ethereum’s revenue collection from anchored networks paying security costs. Further, the use of CDK modules benefits Polygon, allowing network stakers to bond POL and earn increased revenue amid rising network usage, creating a positive demand loop for the POL token within the new Polygon 2.0 network staking layer design. Finally, Polygon’s efforts to onboard various companies are starting to materialize as it just surpassed BNB and Ethereum in the number of new applications it supports on top of its network, as depicted in Figure 4 below.

Figure 4: Total number of New Applications on the Five Leading Smart-Contract Platforms

Source: Artemis

What You Should Pay Attention To Argentina’s New President

Bitcoin rallied back to pass the $37K mark as Argentina elected a pro-Bitcoin, right-wing president, Javier Milei. Although the president-elect made no promise to make Bitcoin a legal tender, the volumes indicate some hope that Milei’s appointment could mean economic revitalization for South America’s second-largest economy with the help of Bitcoin, a la El Salvador. El Salvador’s GDP is expected to reach $33.4B by the end of 2023, which would be a ~20% increase from when it declared Bitcoin as a legal tender in 2021. With an inflation rate exceeding 140% in 2023, Argentina’s GDP growth has been sluggish, averaging at 0.51 percent from 1993 until 2023, as shown in the figure below. “The central bank is a scam. What Bitcoin is representing is the return of money to its original creator, the private sector,” Argentina’s president-elect said as part of his presidential campaign, vowing to shut down the central bank, replacing the Argentine peso with the US dollar, and embrace decentralized finance. Indicators of whether Milei’s plan will work in Argentina’s favor are yet to be discovered.

Figure 5: Argentina’s GDP Growth Rate

Source: Trading Economics

Avalanche Aiming to Position themselves as the Platform for Financial Institutions

In the past week, Avalanche has been the focal point of multiple pilot projects, showcasing its aptness for financial use-cases tailored to institutions. For instance, Citibank, Fidelity, and T. Rowe Price Associates collaborated to unveil a foreign FX exchange solution operating on a private permissioned Avalanche Subnet.

Subnets, akin to Optimism’s OpStack or Polygon’s CDK framework, denote application-specific networks launched atop Avalanche to meet distinct business needs. Unlike traditional frameworks, subnets possess a unique hybrid architecture, enabling companies to construct a private instance of their applications aligned with regulatory requirements. Simultaneously, they leverage the benefits of being anchored to a public network, ensuring immutability and interoperability with broader ecosystems, such as DeFi.

The pilot project, initially focused on USD/SGD trading, underscores the blockchain’s superior value proposition in enabling instantaneous settlement and cost-effectiveness, a stark departure from the traditional financial infrastructure burdened by delayed transactions and significant intermediary costs for international transfers.

In another noteworthy initiative, JP Morgan and Apollo Global collaborated on a network and asset-agnostic portfolio management solution. This proof of concept empowers fund managers to tokenize portfolios using JP Morgan’s ONYX and the Oasis Pro asset-issuing platform. Leveraging Axelar and Layer Zero interoperability protocols, fund managers can seamlessly exchange and rebalance portfolios across various blockchains, bridging EVM and non-EVM, private and public chains, as shown below in Figure 6.

Figure 6: Overview of the intricacies of the multi-asset Portfolio Management Solution.

Source: JPMorgan

Although conducted In a testnet setting, the experiment demonstrated a breakthrough by automating over +3000 operational steps through smart contracts. Further, despite involving multiple parties in the asset management process, it successfully reduced costs by almost 20% by expediting programmatic settlement and minimizing cash drag. Notably, the experiment showcased remarkable interoperability, providing a holistic solution for trading and managing both traditional and alternative assets in a single discretionary portfolio. This addresses a crucial gap in traditional finance, enabling the creation of diverse portfolios spanning multiple disparate asset classes.

In summary, both initiatives play a crucial role for Avalanche, highlighting its unique value proposition through Evergreen subnets tailored for financial institutions. This positions Avalanche as a standout choice among smart-contract platforms. Further, the Evergreen model, preconfigured for compliance with KYC and AML checks, offers native privacy and customizability, delivering enterprise-level blockchain support without the drawbacks of a siloed private blockchain system. Moreover, it marks a pioneering connection between TradFi’s proprietary software and native crypto railways, potentially sparking synergies and expediting ecosystem integration. The enthusiasm generated by these integrations is evident in Figure 7, as Avalanche achieved its highest transaction volume since its inception.

Figure 7: Total number of transactions on the Avalanche Network

Source: Subnets.avax.network

Bookmarks

• Insights from our last newsletter were featured on CoinDesk.

• Get a digital copy of State of Crypto issue 10!.

Next Week’s Calendar

These are the top 3 events we’re monitoring for next week.

• 24th of November: ECB President Speech

• 26th of November: OPEC Meeting

• 28th of November: Chainlink Staking Migration

Source: Forex Factory, CoinMarketCal

Research Newsletter

Each week the 21Shares Research team will publish our data-driven insights into the crypto asset world through this newsletter. Please direct any comments, questions, and words of feedback to research@21shares.com

Disclaimer

The information provided does not constitute a prospectus or other offering material and does not contain or constitute an offer to sell or a solicitation of any offer to buy securities in any jurisdiction. Some of the information published herein may contain forward-looking statements. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties and that actual results may differ materially from those in the forward-looking statements as a result of various factors. The information contained herein may not be considered as economic, legal, tax or other advice and users are cautioned to base investment decisions or other decisions solely on the content hereof.

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Crypto Market Compass | 22. July 2024

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Last week, cryptoassets decoupled from traditional financial assets such as equities on account of the global IT infrastructure outage caused by the faulty CrowdStrike software update.

• Last week, cryptoassets decoupled from traditional financial assets such as equities on account of the global IT infrastructure outage caused by the faulty CrowdStrike software update.

• Our in-house “Cryptoasset Sentiment Index” has continued to climb and signals a slightly bullish sentiment.

• The global IT outage buoyed crypto market sentiment on account of the fact that major cryptoasset networks like Bitcoin continued to operate completely unaffected. This resulted in a decoupling of Cryptoasset Sentiment from Cross Asset Risk Appetite.

Chart of the Week

Performance

Last week, cryptoassets decoupled from traditional financial assets such as equities on account of the global IT infrastructure outage caused by the faulty CrowdStrike software update.

An estimated 8.5 million Microsoft Windows systems crashed and were unable to restart after an incorrect security software update was released by American cybersecurity company CrowdStrike on July 19. The biggest outage in the history of information technology was brought on by this, according to some reports.

This led to widespread global disruptions in transportation and financial sector operations that weighed on traditional financial markets. In contrast, the global IT outage buoyed crypto market sentiment on account of the fact that major cryptoasset networks like Bitcoin continued to operate completely unaffected. This resulted in a decoupling of Cryptoasset Sentiment from Cross Asset Risk Appetite (Chart-of-the-Week).

We think that this outage has made more investors aware of the meaning of a single-point-of-failure and the benefits of decentralized blockchain technology that underpin cryptoassets.

Moreover, although it has to be emphasized that this latest outage was not the result of a cyber attack, the IMF has just recently reiterated warnings that both the frequency and costs of cyber attacks has been rising globally which poses a threat to financial stability.

We think that Bitcoin and other cryptoassets may offer a pristine hedge against these kind of risks which is also supported by the latest outperformance.

Meanwhile, we saw a major announcement by incumbent president Biden to not pursue re-election in November which has led to a spike in election odds of current vice-president Kamala Harris relative to Trump. At the time of writing, betting markets price an election probability of 60% for Trump and 40% for Harris, according to PredictIt.

The market is awaiting further impulses from the speeches by both Trump and Kennedy Jr. at the upcoming Bitcoin Conference on the 27th of July.

Besides, a major focus this week will be the official trading launch of Ethereum spot ETFs in the US. Bloomberg analysts expect a launch to happen tomorrow (23rd of July) barring any unforeseeable last-minute issues. We expect a significant impact of these ETF flows on Ethereum’s performance post trading launch as outlined here.

In general, among the top 10 crypto assets, Solana, Avalanche, and Dogecoin were the relative outperformers.

Overall, altcoin outperformance vis-à-vis Bitcoin has decreased again compared to the prior week, with only 10% of our tracked altcoins managing to outperform Bitcoin on a weekly basis. Ethereum also underperformed Bitcoin on a weekly basis.

Sentiment

Our in-house “Cryptoasset Sentiment Index” has continued to climb and signals a slightly bullish sentiment.

At the moment, 9 out of 15 indicators are above their short-term trend.

Last week, there were significant declines in the BTC 25-delta option skew and BTC relative put-call volume ratios which tend to be bullish signals.

The Crypto Fear & Greed Index has also reversed sharply and currently signals a “Greed” level of sentiment again as of this morning.

Performance dispersion among cryptoassets has increased slightly again but remains at low levels. This means that altcoins are still very much correlated with the performance of Bitcoin.

Altcoin outperformance vis-à-vis Bitcoin has declined again compared to the week prior, with only 10% of our tracked altcoins outperforming Bitcoin on a weekly basis, which is consistent with the fact that Ethereum also underperformed Bitcoin last week.

In general, increasing (decreasing) altcoin outperformance tends to be a sign of increasing (decreasing) risk appetite within cryptoasset markets and the latest altcoin underperformance is a signal of decreasing appetite for risk at the moment.

Meanwhile, sentiment in traditional financial markets as measured by our in-house measure of Cross Asset Risk Appetite (CARA) worsened and decoupled from the improving Cryptoasset Sentiment as shown in our latest Chart-of-the-Week.

Fund Flows

Fund flows into global crypto ETPs continued to be very positive but decelerated slightly compared to the prior week.

Global crypto ETPs saw around +1,393.1 mn USD in net inflows across all types of cryptoassets which is still very positive but somewhat lower than the +1,852.5 mn mn USD in net inflows recorded the prior week.

Global Bitcoin ETPs saw net inflows of +1,304.9 mn USD last week, of which +1,197.8 mn USD in net inflows were related to US spot Bitcoin ETFs alone. US spot Bitcoin ETF net inflows accelerated a bit compared to the prior week.

Last week saw a significant deceleration in net inflows into Hong Kong Bitcoin ETFs to only +18.4 mn USD after +451.9 mn USD in net inflows in the prior week.

Outflows from the ETC Group Physical Bitcoin ETP (BTCE) continued to decelerate last week with net outflows equivalent to -14.3 mn USD while the ETC Group Core Bitcoin ETP (BTC1) once again saw positive net inflows of +1.0 mn USD.

The Grayscale Bitcoin Trust (GBTC) continued to see some net outflows, with around -56.1 mn USD last week.

Meanwhile, global Ethereum ETPs also saw a slight deceleration in net inflows last week compared to the week prior with positive net inflows totalling +65.6 mn USD. Hong Kong Ethereum ETFs also attracted some capital last week (+14.5 mn USD).

The ETC Group Physical Ethereum ETP (ZETH) saw minor outflows last week (-0.5 mn USD) while the ETC Group Ethereum Staking ETP (ET32) showed a very significant increase in net inflows last week (+5.1 mn USD).

Altcoin ETPs ex Ethereum also an increase in net inflows of around +21.4 mn USD which was higher than last week.

Thematic & basket crypto ETPs continued to see only minor flows with only +1.2 mn USD, based on our calculations. The ETC Group MSCI Digital Assets Select 20 ETP (DA20) saw neither in- nor outflows last week (+/- 0 mn USD).

Meanwhile, global crypto hedge funds continued to increase their market exposure even further. The 20-days rolling beta of global crypto hedge funds’ performance increased to around 0.80 (up from 0.72) per yesterday’s close.

On-Chain Data

Bitcoin on-chain data have continued to improve at the margin over the past week.
Whale net exchange transfers have declined significantly to only ~4k BTC over the past week, down from a peak of 30.8k BTC reached on the 10th of July. This has significantly decreased selling pressure on Bitcoin exchanges. Whales are defined as network entities that control at least 1,000 BTC.

In fact, net buying volumes on bitcoin spot exchanges continued to be positive although they have decelerated again more recently. However, overall net transfers to bitcoin exchanges still remained relatively high over the past week implying significant transfers to exchanges by smaller investors.

This is one of the reasons why BTC exchange balances have continued to stay elevated near year-to-date highs according to data provided by Glassnode. In contrast, ETH exchange balances have moved mostly sideways over the past week.

That being said, both realized profits and losses have significantly declined since the beginning of July.

Besides, the transfers by the Mt Gox trustee wallets to Kraken did not affect selling pressure on exchanges meaningfully, yet. We also don’t expect the distribution of these bitcoins to be a significant drag on performance over the coming weeks since we only expect a small percentage of those coins to be liquidated.

The Mt Gox trustee balance has fallen to 89.8k BTC more recently, down from approximately 139k BTC in a sign of imminent redistribution of those coins to former holders.

Other large holders such as the US government have not distributed more bitcoins recently. However, a potential distribution still remains a risk over the short- to medium term since they had already distributed some bitcoins on the 25th of June. At the time of writing, the US government still controls around 207k BTC.

The overall hash rate in the Bitcoin network continued to recover in a sign of decreasing economic pressure on Bitcoin miners.

However, we have seen a notable decline in aggregate BTC miner balances more recently as miners sold the most bitcoins since January 2023 into the most recent rallye.

Continuing BTC miner distribution could also exert some downside pressure on the market in the short term.

Futures, Options & Perpetuals

Last week, both BTC futures and perpetual open interest continued to increase in a sign of a return in risk appetite. Futures liquidations were dominated by short liquidations as prices generally moved up.

Perpetual funding rates increased to a 1-month high which also signals increasing risk appetite. When the funding rate is positive (negative), long (short) positions periodically pay short (long) positions. A positive funding rate tends to be a sign of bullish sentiment in perpetual futures markets.

The 3-months annualized BTC futures basis rate also continued to increase to around 12.8% p.a.

Besides, there was a very significant increase in BTC options’ open interest which was mostly driven by an increase in BTC call option demand as evidenced by the continued drop in put-call open interest ratio.

This is consistent with the fact that both relative BTC put-call volume ratios as well as the 1-month 25-delta option skew also declined significantly signalling a drop in relative demand for put options.

Meanwhile, BTC option implied volatilities have increased significantly following the continued rallye. At the time of writing, implied volatilities of 1-month ATM Bitcoin options are currently at around 65.1% p.a.
Bottom Line

• Last week, cryptoassets decoupled from traditional financial assets such as equities on account of the global IT infrastructure outage caused by the faulty CrowdStrike software update.

• Our in-house “Cryptoasset Sentiment Index” has continued to climb and signals a slightly bullish sentiment.

• The global IT outage buoyed crypto market sentiment on account of the fact that major cryptoasset networks like Bitcoin continued to operate completely unaffected. This resulted in a decoupling of Cryptoasset Sentiment from Cross Asset Risk Appetite.

To read our Crypto Market Compass in full, please click the button below:

This is not investment advice. Capital at risk. Read the full disclaimer

© ETC Group 2019-2024 | All rights reserved

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CSDA ETP spårar priset på kryptovalutan Cardano

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CoinShares Physical Staked Cardano (CSDA ETP) med ISIN GB00BNRRF659, spårar värdet av kryptovalutan Cardano. Den börshandlade produktens TER (total cost ratio) uppgår till 0,00 % p.a. CoinShares Physical Staked Cardano är det billigaste ETN som följer Cardano-indexet. Denn ETN replikerar resultatet av det underliggande indexet med en skuldförbindelse med säkerheter som backas upp av fysiska innehav av kryptovalutan.

CoinShares Physical Staked Cardano (CSDA ETP) med ISIN GB00BNRRF659, spårar värdet av kryptovalutan Cardano. Den börshandlade produktens TER (total cost ratio) uppgår till 0,00 % p.a. CoinShares Physical Staked Cardano är det billigaste ETN som följer Cardano-indexet. Denn ETN replikerar resultatet av det underliggande indexet med en skuldförbindelse med säkerheter som backas upp av fysiska innehav av kryptovalutan.

CoinShares Physical Staked Cardano är en mycket liten ETN med 13 miljoner euro under förvaltning. Denna ETN lanserades den 11 mars 2022 och har sitt säte i Jersey.

Upptäck Cardano

Cardano är en tredje generationens Proof-of-Stake, peer-reviewed, hållbar, verifierbar, applikationsutvecklingsplattform. En distinkt egenskap är dess kommersiellt fokuserade metadata-tillgängliga blockchain-plattform, med kärnanvändning i Afrika.

ADA används för transaktioner och insatser. Insats gör det möjligt för användare att tjäna belöningar för sitt deltagande i att upprätthålla nätverkets säkerhet och integritet. Genom att satsa sina tokens stödjer användarna nätverket samtidigt som de tjänar ytterligare ADA.

Hur Staking fungerar med CoinShares

På CoinShares tror vi på att göra investeringar i digitala tillgångar så säkra, tillgängliga och givande som möjligt. Våra insatta ETP:er gör det möjligt för investerare att tjäna insatsbelöningar utan risker och krångel med självvård. Vi samarbetar med Blockdaemon för att säkert satsa din investering i riktig ADA och på ett transparent sätt dela insatsbelöningar med dig, vilket ger en konstant avkastning och en noll procents förvaltningsavgift för kryptosatsning ETP – en första i branschen.

Toppmodern Cardano krypto-ETP

Hur bekvämt som helst: CoinShares ETPer är tillgängliga precis som alla aktier eller ETFer, direkt genom din favoritmäklare eller bank. Hantera din investering enkelt på ett ställe och få alla fördelar med att äga kryptotillgångar, utan bördan och riskerna med självvård.

Fysiskt, för högsta säkerhet: För varje investering i CoinShares Physical Staked Cardano ETP köps samma summa i riktig ADA. I Komainus förvar – ett joint venture mellan CoinShares, Nomura & Ledger – drar din ADA-investering nytta av en av branschens säkraste lagringsstandarder.

0 % förvaltningsavgifter och ytterligare insatsbelöningar: 0% förvaltningsavgifter och ytterligare insatsbelöningar En första i krypto-ETP-branschen. CoinShares ETPer är byggda för att göra det möjligt för Emittenten att dela insatsbelöningar med investerare. Insatta mynt flyttas inte från den säkra förvaringsinstitutet där de lagras, och ETPen förblir 100 % fysiskt backad hela tiden. Och förvaltningsavgifterna sänks också till 0 %p.a.

En pålitlig aktör: CoinShares är börsnoterat på Nasdaq Stockholm, vilket innebär rigorös efterlevnad av regler, noggranna externa revisioner och transparens genom kvartalsrapportering. Med produkter som handlas på Europas största börser är CoinShares kontinentens ledande krypto-ETP-leverantör.

Handla CSDA ETP

CoinShares Physical Staked Cardano (CSDA ETP) n europeisk börshandlad kryptovaluta. Denna fond handlas på flera olika börser, till exempel Deutsche Boerse Xetra.

Det betyder att det går att handla andelar i denna ETP genom de flesta svenska banker och Internetmäklare, till exempel DEGIRONordnet, Aktieinvest och Avanza.

Börsnoteringar

BörsValutaKortnamn
SIX Swiss ExchangeUSDADAS
XETRAEURCSDA
gettexEURCSDA

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De största naturgasföretagen i världen

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Naturgas har gått från att vara en oönskad biprodukt av oljekällor till en efterfrågad bränslekälla. Konsumenterna hyllar naturgasens lägre pris och renare utsläpp jämfört med traditionell olja. CFD-handlare använder råvarans säsongsmässiga volatilitet och ökade globala efterfrågan för att hjälpa dem att försöka förutsäga rörelsen för naturgasterminer. Många handlar emellertid även med de största naturgasföretagen i världen för att få en större utväxling på sin trading.

Naturgas har gått från att vara en oönskad biprodukt av oljekällor till en efterfrågad bränslekälla. Konsumenterna hyllar naturgasens lägre pris och renare utsläpp jämfört med traditionell olja. CFD-handlare använder råvarans säsongsmässiga volatilitet och ökade globala efterfrågan för att hjälpa dem att försöka förutsäga rörelsen för naturgasterminer. Många handlar emellertid även med de största naturgasföretagen i världen för att få en större utväxling på sin trading.

Detta fossila bränsle utvinns ur marken, vilket gör det ingen överraskning att etablerade oljebolag är produktionsledare inom naturgasindustrin. Detta beror på deras tillgänglighet till den teknik och utrustning som behövs för effektiv utvinning av dessa efterfrågade resurser som är fångade djupt under jordens yta.

Största naturgasföretag

Naturgasindustrin består av ett stort ekosystem som prospekterar, utvinner, förädlar och levererar bränsle till slutanvändare och kraftproduktionsanläggningar.

De största företagen i detta ekosystem är producenter. Även om de har den största investeringen i förskott, såsom prospektering, borrning och utvinning, blir allt de pumpar ur sina brunnar deras tillgång.

Detta ses genom värdet av världens främsta producenter, som ryska Gazprom, som står för 12 % av den globala produktionen. Detta följs av Exxon, China National Petroleum (CNPC), Royal Dutch Shell, BP, Chevron och Total.

Handel med CFDer för de största naturgasföretagen

Du kan handla CFDer på några av de största naturgasföretagen, inklusive:

• Exxon (XOM) – är den största olje- och gasproducenten i USA med ett börsvärde på nästan 189 miljarder dollar i januari 2020.

RoyalDutch Shell (RDSA-L)– Royal Dutch Shell äger hela livscykeln för anläggningar och hanterar prospektering, utvinning och leverans, inklusive butiker. I juni 2020 var Royal Dutch Shells börsvärde nära 128 miljarder dollar.

BP (BP-L) – London-baserade BP har global verksamhet dedikerad till prospektering och utvinning av naturgas och olja. Deras börsvärde i juni 2020 uppgick till cirka 74,4 miljarder dollar.

Chevron (CVX) – Med olje- och naturgasfält i Asien, Australien, Afrika, Europa, Latinamerika och Nordamerika hanterar Chevron utvinning och produktion av smörjmedel, petroleumbaserade produkter och bensin. Deras börsvärde var värt uppskattningsvis 172 miljarder dollar i juni 2020.

Total (FP.PA) – Ett franskbaserat integrerat gasbolag (sköter produktion genom slutanvändarleverans), som driver utvinningsfält i Europa, Mellanöstern, Ryssland och utanför. Deras börsvärde i juni 2020 var värt nära 101 miljarder dollar.

Som med alla branscher är dessa tillverkares aktiekurs beroende av deras förmåga att köpa ny teknik och leverera dem till sin marknad till ett lönsamt pris.

Till exempel, om du tror att Exxons aktiekurs kommer att stiga, kan du öppna en köpposition på Exxon-aktie-CFDer för att gå lång och se vinster från prisskillnaden mellan din ursprungliga köpkurs och det högre stängningspriset. Men om priset skulle falla skulle du drabbas av en förlust.

Å andra sidan, om du tror att priset på Exxons aktier kommer att falla på grund av globala, ekonomiska eller andra faktorer, kan du öppna en säljposition på Exxons CFDer. Detta gör att du kan redovisa vinsten från skillnaden mellan öppningspriset och ett lägre stängningspris. Men om priset stiger efter att du öppnat en säljposition kommer du att drabbas av en förlust.

Vinst och tillväxt för naturgas- och oljebolag är överlåtna på marknaden. Eftersom deras värden till stor del är direkt knuten till värdet på de varor de har, devalverar låga olje- och naturgaspriser företag och avskräcker produktion.

Denna kombination av fluktuerande tillgångsvärden och omsatta aktier introducerar potentiell prisvolatilitet. CFD-handlare kan öppna positioner på en akties rörelse, oavsett om aktiens värde stiger eller faller.

När naturgasindustrin ändrade sin produktion under 2006, har omsättbara terminer, optioner och aktier visat sig vara volatila och ibland oförutsägbara, vilket ger unika möjligheter för förberedda handlare.

Handla naturgasföretagen hos CMC Markets

CMC Markets är ett globalt företag med en handelsplattform för onlinetrading av finansiella derivatinstrument, i huvudsak handel med CFD:er på aktier, index, råvaror, ETF, valutor och kryptovalutor. Till CMC Markets.

Handla naturgasföretagen hos AvaTrade

AvaTrade är en valutahandels- och contract for difference-mäklare med säte i Dublin, Irland. Genom dess handelsplattformar och mobilappar, erbjuder företaget handel på många olika marknader, inklusive valutor, råvaror, aktieindex, aktier, börshandlade fonder, bitcoin samt obligationerTill AvaTrade .

Handla naturgasföretagen hos IG

Även IG erbjuder emellertid handel med naturgasföretagen . Till IGs hemsida.

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