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The looming collapse of China Evergrande Group (HKG:3333), the world’s most indebted property developer, has roiled financial markets for months, threatening a contagion with far-reaching implications on China and the wider economy.

In the early months since Evergrande’s financial crisis came to light, Beijing stayed mum on the issue, although the People’s Bank of China pumped billions of yuan in liquidity in what was seen as an attempt to quell liquidity concerns.

Over this time, Evergrande’s stock price slipped 95%, from ~25HKD to ~1.5HKD, where it has stagnated for all of 2022.

HKG:3333 W1

Evergrande’s massive debt pileup

Evergrande, once China’s second-largest real estate developer, is drowning in more than $300 billion in debts to suppliers, contractors, creditors and investors. The company’s crisis partly stemmed from the introduction of Beijing’s "three red lines" rule in 2020 that made it harder for developers to seek bank financing to fund their projects.

Another Lehman Brothers moment

The large exposure of Chinese banks like Minsheng Bank, Ping An Bank and Everbright Bank to Evergrande prompted many financial watchers to predict that Evergrande's debt crisis could extend beyond China’s property and financial markets, warning that it could spill over to the global markets similar to the Lehman Brothers collapse that resulted in the 2008 global financial crisis.

These fears intensified as Evergrande missed payments on a number of onshore bonds. The world’s three major credit rating agencies have already declared the developer to be in default after missing on its bond interest payments late last year.

However, some analysts have played down concerns of Evergrande being the next “Lehman moment,” as they expect Beijing’s policymakers to prevent the crisis from being a systemic risk.

Beijing steps in to limit fallout

To minimize the potential impact of Evergrande’s looming collapse, Beijing has stepped up its efforts, but without a state-led bailout in sight. Back in October, the Chinese central bank said the risk of Evergrande’s liabilities spilling over to the country’s financial sector is "controllable,” while confirming reports that relevant government agencies and local governments have been carrying out risk disposal and resolution work to mitigate a potential contagion.

In recent weeks, a number of news outlets reported that some banks in China have lowered mortgage rates, offered subsidies and allowed developers to access their funds on escrow in an attempt to revive the housing market.

Beijing also started urging state-owned developers to acquire some projects of troubled builders to help ease the sector’s liquidity crunch. Fitch Ratings recently said Chinese developers are poised to see more small-scale mergers and acquisitions and the impact on buyers’ leverage are predicted to be small "as they select projects with promising returns."

Light at the end of the tunnel

It may take months or years for the property sector to recover as developers continue to struggle with a cash crunch that prevents them from meeting their debt obligations.

However, with Beijing’s subtle approach in reviving the property market, Evergrande’s recovery may be drawing near. In February, new home prices in 100 cities in China rose for the first time in two months, further recovering from the slump in November when prices contracted for the first time since 2015.

Policy reforms could encourage home-buying this year as the government included the healthy development of the real estate sector in its government work report unveiled by Premier Li Keqiang over the weekend. Li said authorities will seek to promote the commercial housing market and stabilize house prices this year.

Foreign investors that purchase bonds and other securities from Chinese builders should closely monitor developments surrounding Beijing’s policies for the sector.

With the Russian ruble sinking to fresh lows and global companies exiting the market, forecasts of a looming collapse of the $1.7 trillion Russian economy have grown since the Kremlin launched its military attacks on Ukraine less than two weeks ago.

The Russian currency fell by more than 10% from Friday to 137 to a dollar on Monday, underscoring the impact of the sanctions imposed by Western nations on the Russian economy and on residents’ living standards.

In 2021, the country’s gross domestic product rose 4.7% year over year, boosted by the global economic recovery and the global surge in the prices of oil, one of Russia’s key commodities. GDP rebounded last year — after contracting 2.7% in 2020 — to the fastest since the 2008 global financial crisis.

Russia GDP

Worst recession in three decades

But with the developments surrounding Russia’s war with Ukraine, many economists are predicting a recession that could be worse than the 1990s in the aftermath of the Soviet Union’s collapse. Analysts at JP Morgan expect Russia’s GDP to shrink 11% this year, sharper than the 5.3% contraction in 1998 after the country’s debt crisis.

Russia’s economic crash of 1998 was triggered by a drop in productivity, the high exchange rate between the ruble and foreign currencies, and the government defaulting on its domestic debts.

Financial watchers are now projecting another 1998-like scenario as Russia is poised to miss its debt deadlines after being cut off from virtually the entire global payments system and losing customers on its key commodities like oil.

Russia in state of default

“Investors are questioning Russia’s willingness to pay. Hence there has been an exodus, especially as Russian debt is also on index-watch,” ING Bank economist Padhraic Garvey said in a note last week, adding that the Russian dollar bond curve is now priced "as if in a state of default.”

Russia on Sunday said its payments of sovereign bonds will depend on sanctions imposed by Western governments, sparking fears of a technical default on the country's debts.

Uncertainties spur corporate boycott

The mass exodus of global companies from the Russian market is also expected to weigh on the economy as companies attempt to safeguard their staff from the conflict and to support international measures to isolate and disarm Russia.

Companies from the automotive, aviation, technology, consulting, media, retail and energy sectors have already disclosed plans to either suspend operations or exit the Russian market entirely in a form of protest against Vladimir Putin’s decision to wage war on Ukraine and due to uncertainties in doing business in the market.

Consumer goods and services firms including PayPal (NASDAQ:PYPL), Ford Motor (NYSE:F), Volkswagen (FRA:VOW), Toyota Motor (NYSE:TM), Boeing (NYSE:BA), Airbus, Diageo (NYSE:DEO), Apple (NASDAQ:AAPL), Samsung Electronics (KRX:005930), Walt Disney (NYSE:DIS) and Netflix (NASDAQ:NFLX), as well as oil majors BP (NYSE:BP), ExxonMobil (NYSE:XOM) and Shell (NYSE:SHEL) are among the companies that have decided to sever their ties with Russia.

Wooing foreign firms to stay

In an attempt to retain its relationship with foreign companies, Russia on Friday offered fast-tracked bankruptcy protections and the option for firms to hire local managers to manage their stakes in the country until they choose to return.

"To enable businesses to make informed decisions, a draft presidential decree has been prepared to introduce temporary restrictions on exiting Russian assets… We expect that those who have invested in our country will be able to continue working here,” Russian Prime Minister Mikhail Mishustin was quoted as saying by state news agencies TASS and RIA.

Eroding living standards

Putin’s actions are also predicted to result in hyperinflation, elevated unemployment levels and social unrest. To mitigate the global sanctions’ impact on the local currency, the Russian central bank in an emergency move last week hiked its key interest rate to 20% from 9.5% as it prepares for hyperinflation.

With many foreign companies choosing to discontinue their operations in the country, Russians are now preparing to cover the costs of the war as they face worsening unemployment figures and skyrocketing consumer prices.

Oxford Economics’ chief global economist Innes McFee last week said Russia’s unemployment rate will likely rise by 1.9 percentage points in 2023, while inflation is predicted to soar to 20%, eroding residents’ quality of living. The country’s GDP is predicted to contract 11% in the fourth quarter of 2022 as Russia is tipped to suffer the worst economic impact from the war, McFee said.

*Please note; The author is working from UTC +13 when determining the timeline of data releases. 

This week, the most important economic events are split between the US and China. Inflation data from these countries will be at the forefront of traders' minds as they set their positions this week.

Wednesday, March 09

China Inflation Rate YoY FEB

China's Inflation Rate YoY for February is due on Wednesday afternoon. 

China's YoY inflation rate has decreased dramatically over the past three readings, falling from 2.3% in November 2021 to 0.9% in January 2022.

Now inflation in the country is far lower than the People's Bank of China (PBoC) mandated range and may even head lower in the February result. The market consensus is for inflation to fall ten basis points to 0.8%.

Such a reading would provide the PBOC with more reasons to continue loosening its monetary policy. PBoC's Governor Yi Gang expects to take such action, noting last Wednesday that the bank anticipates that it will "increase support for key areas and weak links in the economy".

China CPI

Thursday, March 10

JOLTs Job Openings JAN

The Jolts Job Openings report for January is released on Thursday early morning.

Job numbers in the US have floated around 10 to 11 million for the past 7-months. The January Job number is not expected to be any different. Market consensus forecasts no change in this month's report, with 10.9 million jobs that labour participants in the country have not filled.

The JOLTS report follows last week's Non-Farm Payroll (NFP) for February, which beat market expectations by a wide margin. Last Friday, the NFP recorded that the US economy added 680K jobs, versus an expected 400K jobs. February's report was the greatest in seven months.

Friday, March 11

Inflation Rate YoY FEB

ECB Interest Rate decision

A cursory note should be made that the European Central Bank will be making an interest rate decision on Friday. This event only requires a cursory note because of the extreme dovishness that the ECB has taken regarding the EU inflation (5.8% in February). As such, the market believes that the ECB won't move the interest rate from its current 0% per annum and deliver non-committal commentary.

Otherwise, the more significant event on Friday will be the US inflation rate YoY for February.

Currently, inflation in the US is at a 40-year high, at 7.5% YoY. The market thinks that inflation will hit 7.9% in February's reading.

The US inflation rate will inform the US Federal Reserve’s interest rate decision on March 15/16. A strong inflation number puts pressure on the Central Bank to consider a 50 basis points moving forward. A rising probability for a 50 basis points move will likely move the dial in US equities, gold, and USD pair markets.

US CPI

 

The US Non-Farm Payrolls (NFP), a major market mover, is being released at 8:30 am EST, Friday, March 05, and covers the month of February.

The market consensus is that the US added 400K jobs to the economy last month. For comparison, the ADP Employment Change report (released Wednesday) reported that private businesses added 475K workers to their payrolls in February.

While a 50 basis points hike from the US Federal Reserve during its March 15/16 meeting is unlikely, a strong jobs report could put pressure on the Central Bank to consider it moving forward.

An increasing possibility for a 50bps in the Federal Reserve’s subsequent April and May meeting will likely filter into the markets for US equities, gold, and USD pairs. As for the Federal Reserve’s March meeting, Jerome Powell, Chair of the Reserve, indicated on Wednesday that he favours a 25 basis point hike in March.

US equities

In February, US equities were beaten down as investors priced in the impending Federal Reserve rate hike. Over the past month, the NASDAQ100 has fallen 4.5%, the SPX has fallen 3%, and the Dow Jones Industrial Average has fallen 3.5%.

However, all three major US indices have been in positive territory over the past five trading days, with some analysts believing that the stock market has already bottomed out. Citi Group, for one, has upgraded their view on US stocks, thinking that they may get a bump from the Ukraine crisis, noting that US equities “have ended 10-20% higher after previous geopolitical crisis”.

NASDAQ100, SPX, DJIA D1

Gold

Over the past two weeks, the price of gold has been at the mercy of developments with the Ukraine crisis. XAUUSD quickly shot up to $1,970 after the crisis broke out before returning to $1,900, where it stagnated for a week.

Another major market event is entering the picture to help shake the gold price from its trenches. The March Non-Farm Payroll (NFP) is fast approaching, and with it, gold has found a new home close to $1,930.

XAUUSD 4H

The USD

A risk-off market has supported the USD against several of its pairs in the lead up to the NFP. In particular, The EURUSD is trading at a 22-month low and is trending to below 1.100. The RSI indicator on the EURUSD may provide some comfort for EUR bulls in the face of a possible strong NFP report, as the pair appears over-sold.

EURUSD W1

 

Despite efforts by Western countries to spare the energy sector from economic sanctions against Russia, the country’s oil supply has been left hanging in the balance as importers — including those in the US — put orders on hold as they seek other sources, potentially threatening the global energy supply.

Russia is the second-largest crude exporter in the world next to the US, shipping about 5 million barrels per day (bpd) of crude, accounting for about 12% of global trade, according to the International Energy Agency.

Dependence on Russian oil

With Russia supplying nearly 40% of the European Union’s natural gas and over 25% of the region’s crude oil, many Western leaders have excluded Russian oil from the raft of sanctions imposed on the Kremlin in an effort to not disrupt the global energy supply.

The US, despite being the world’s largest crude exporter, imports Russian oil to power up its refineries when local supplies are down. US Senator Edward Markey on Monday said the US imported about 245 million barrels of oil from Russia in 2021, contributing to about USD 17.4 billion in revenue to Russia.

However, with growing pressure from lawmakers and other trade bodies to target Russia's oil industry, which accounts for a large portion of its gross domestic product, US President Joe Biden and 30 other world leaders on Monday committed to releasing 60 million barrels of oil from their state reserves to stabilize global energy markets. Of the total, the US will be releasing 30 million barrels.

US Energy Secretary Jennifer Granholm also stressed the need to invest in clean energy "to reduce domestic and international dependence on Russian oil and gas.”

Russian crude shunned to disarm Kremlin

But with the growing global condemnation against Russia and efforts to block the Kremlin’s access to key commodities, the US dollar and to practically everything, traders in the US have started to reject Russian ships, with some warning of the potential impact on global oil supply.

"People are not touching Russian barrels. You may see some on the water right now, but they were bought prior to the invasion. There won’t be much after that,” a New York Harbor trader was quoted by Reuters as saying on Monday, adding that “no one wants to be seen buying Russian products and funding a war against the Ukrainian people.”

Big oil corporations step in

Some of the largest oil companies have also started to make moves against Russia amid its escalating war with Ukraine. Exxon Mobil (NYSE:XOM) on Tuesday said it would discontinue its Russian operations that it manages with partners from Japan, India and Russia, while Shell (NYSE:SHEL) also disclosed plans to exit its joint ventures in Russia with local natural gas firm Gazprom.

ExxonMobil and Shell’s decisions follow that of peer BP (NYSE:BP), which on Sunday said it would sell its nearly 20% stake in Russian state-controlled oil company Rosneft.

Russian oil not worth the trouble

The aversion to Russian oil has resulted in a substantial discount to the country’s key Urals oil grade, with oil trading giant Trafigura Group offering to sell a cargo of Urals grade for USD 18.60 a barrel less than benchmark prices, according to Bloomberg News.

In contrast, Brent oil prices rose over 9% on Wednesday to more than USD 114 per barrel, topping earlier predictions that the Russia-Ukraine crisis could drive oil prices to about USD 110 per barrel.

Stay ahead of the markets by following BlackBull Markets’ in-depth analysis and coverage of the Russia/Ukraine conflict.

Investors acquire Stocks for a variety of reasons. A widespread consideration in stock investing is whether the stock/company you are buying issues dividends. Suppose a Company is a regular dividend issuer. In that case, investors would like to know:

First; what exactly is a dividend?

In its most simple form, a dividend is a cash payment made by a company to its shareholders. The payment is derived from a portion of the company's earnings, typically after covering its expenses.

Dividends are typically issued by large established corporations that are cash positive but limited in their opportunities to scale. These corporations seek to return value to their investors via cash rather than increasing their stock price.

Some of the most popular dividend stocks are well-known brands with strong, predictable cash flow or high dividend yield. As a general rule, the riskier the stock, the higher its dividend yield should be to compensate for the risk.

Keep reading to learn about some of the most popular dividend stocks in the US and other major stock markets.

What are 10 of the most popular dividend stocks?

Company: The Coca-Cola Company

Extra Note: The Coca-Cola Company's solid and dependable sales record and healthy profit margins make up for its dividends' relatively low yield compared to other stocks mentioned on this list.

Company: AT&T

Extra Note: Oligopolies such as US telecommunication companies make attractive dividend stocks for investors. The small pool of competition for these companies means the risks for investors is smaller than for companies that have to rely purely on competitive strengths.

Company: British American Tobacco

Extra Note: While a contentious and vilified industry, tobacco companies have a reputation for charitable dividends. This is why British American Tobacco and Imperial brands remain popular dividend stocks, even with reduced smoking rates in developing countries.

Company: Imperial Brands

Company: Deutsche Lufthansa

Extra Note: Deutsche Lufthansa has temporarily suspended its dividend payments due to global air travel receding to unsustainable levels since the beginning of the Covid-19 pandemic. Before 2020, Deutsche Lufthansa would distribute approximately 20% to 40% of net income in dividend payments to its shareholders.

Company: Telefónica

Extra Note: The original Spanish branch of Telefónica issues dividends twice annually, in June and December of each year. Telefónica engages in several methods to return value to its shareholders, including cash and scrip dividends (i.e., issuing shares in place of a delayed cash dividend).

Company: Novo Nordisk

Extra Note: The Danish Pharmaceutical company's dividend yield is the lowest on this list, yet the company remains an attractive option for investors. The yield, while small, is not altogether inadequate for the industry in which it operates and is seen as tolerable due to the companies domination over diabetic therapies.

Company: BHP Group

Extra Note: Of course, as Australia dominant industry, two of the country's most popular dividend stocks are from companies operating in the mining industry. The attractive yields signify the sector's risk to commodity price movements beyond the control of the miners.

Company: Rio Tinto

Company: Japan Post Bank

Extra Note: One of Japan's favoured dividend stocks, Japan Post Bank seeks to return 50% to 60% of its retained earnings in the form of dividends. By Japanese standards, yields of ~5%, of which Japan Post Bank conforms, is higher than the market average.

With its back up against a wall, the US Federal Reserve has pledged to begin tapering its asset purchase program. Beginning later this month, the Federal Reserve will taper the number of US Treasury Securities it purchases each month by US $10 billion and the number of Mortgage-Backed Securities by US $5 billion.

 

How did the USD react to the Federal Reserve taper announcement?

Federal Reserve DXY

By all accounts, a dreaded ‘taper tantrum’ has been avoided in the wake of the announcement. At least in relation to the forex market. Federal Reserve chairman Jerome Powell has been extremely careful to prime investors for this moment. For one, all hawkish commentary from the chairman has been mediated with dovish caveats. Admittedly, less senior Federal Reserve officials have done much of the leg work in hinting and out-right suggesting the need for a reduction in its purchases. Either way, the conversation surrounding tapering has been sustained for months, giving investors time to mull over the implications.

As of writing, the USD index, the DXY has crossed back over the 94.00 mark and comfortable sits 94.33, up 0.53% since the Federal Reserve’s tapering announcement.

Will the Federal Reserve continue to taper?

The Federal Reserve will still be purchasing $105 billion worth of securities, with further reductions dependent on continuing favourable economic outlook. The Federal Reserve has indicated it is considering reducing spending, month over month, moving forward. However, if economic conditions deteriorate, the spending reductions could be nullified or reversed. The Federal Reserve will be keeping an eye on inflation and the number of jobs added to the economy each month.

Inflation remains at a decade high

A significant consideration of the Federal Reserve when determining its reduction in spending is the US inflation rate. While it is at a 13-year high, the Federal Reserve maintains that most of the inflation experienced heretofore is temporary.

Octobers inflation number is released next Wednesday. Trading Economics is forecasting a 0.1% increase in US inflation.

Up next: Non-Farm Payroll

Another significant consideration of the Federal Reserve when determining its tapering is the Non-Farm Payroll (NFP). The NFP indicates how many non-farm jobs were added to the economy in a given month. The data for the October non-farm payroll will be released tonight to great anticipation. Trading Economics is forecasting 400K jobs, while the market consensus is a little more optimistic and is forecasting 450K jobs.

The NFP has disappointed for the past two months, with actual job figures falling far short of the numbers predicted. Even so, the Federal Reserve has seen fit to begin tapering as job growth seemingly slows. Treasury Security Janet Yellen noted the US economy is still short 5 million jobs compared to pre-pandemic times, which will take the US years to recover at the current rate of job growth.

Natural Gas

Traders that have taken a long position on Natural Gas will have been feeling lighter than air for the better part of 2021. Remarkably, the trading price of Natural Gas has rocketed up 115% since the beginning of the year, outperforming price increases in other commodities currently sitting close to record highs, Oats (up by 63.83% YTD), Copper (up by 19.65% YTD), and steel (up by 38.27% YTD). As of writing, Natural Gas is trading at $5.592 per million British thermal units, a thirteen year high for the commodity.

Natural Gas

 

What Is The Reason For The Meteoric Rise In Natural Gas

An unusually scorching 2021 summer in the US drove demand for air conditioning and Natural Gas beyond normal levels, resulting in a lower stockpile of the commodity for an unusually cold winter. Following this, extreme weather conditions, such as Hurricane Ida, interrupted Natural Gas extraction in the Gulf of Mexico's most productive zone.

Will The Price Of Natural Gas Recede?

Typically, when the price of a commodity rises, new investment will enter the market to scoop up the high prices. Regarding Natural Gas, the new investment could be from gas companies lifting output at existing gas wells or exploring new wells that will raise production. Counter-productively, the new investment and resulting lift in gas supply would help suppress the price rises in the commodity.

Natural Gas

New investment in Natural Gas has stalled as of late. While fossil fuels will still be needed for a long time, so-called 'Zero Carbon' policies from governing bodies worldwide are disincentivising Natural Gas exploration. The long-term prospects of Natural Gas wells are less certain and less attractive when contending with the likes of the Biden Administration throwing its full support behind renewable energy sources as the US engages in a wide-scale upgrade to its infrastructure. One project for the Biden Administration is for the US electric grid to be powered by 50% solar within the next thirty years. Achieving this goal would severely squeeze demand for Natural Gas, which, according to the EPA, generated approximately 40% of the country's electricity in 2020.

Natural Gas Technical Price Analysis

In this video, Philip looks at possible trading zones to eye for future movements in the commodity.

Last weeks' turbulent market is about to head into another. The intensity of the upcoming turbulence will depend on how these household names have performed in Q2 as per their earning reports. Whether they have performed poorly, in line with expectation, or extraordinarily well, the market will have a strong opinion and a possibly strong reaction.

Last week recap: Fresh highs for US indices ahead of earning reports.

NAS100

Last week started with investor jitters taking the SPX500 and NAS100 down, a non-insignificant amount, for a third straight day (and the US30 down for the second straight day). The apparent cause of the Jitters? The spread of the Delta variant of the Coronavirus picks up in Europe and APAC countries (South Korea, Thailand, Vietnam, and Australia in particular).

By Tuesday, the jitters had subsided, and investors ploughed back into the market. The SPX erased Monday losses, while the NAS100 was up by 50 points over Monday's open. By the close of the market on Friday, all three major indices were at record highs.

At the time of writing, DOW JONES E-MINI FUTURES, NASDAQ-100 E-MINI FUTURES, and E-Mini S&P 500 are all flat, half a day out from the US markets opening.

 

Too many earning reports this week

This week is the busiest Q2 earning reports week of the year. As such, this article will be broken up into several parts.

 

Monday earning reports

Companies that are worlds apart are reporting Monday. The $105B defence contractor, Lockheed Martin (NYSE: LMT) and the $13B toymaker, Hasbro (NASDAQ: HAS), are first to the batting plate.

Hasbro is forecasting annual growth in sales of 10% for the next two years as it expands its gaming portfolio. In response, analysts have HAS projected to reach a price 24% above the current stock. Unfortunately, 2021 Q2's earnings are anticipated to be down compared to Q1. However, it is good to note that the toymaker has been reporting at the top end of its estimates in the past three quarters, with last quarter beating expectations by an impressive 55%.

Lockheed Martin is expected to report earnings per share of $6.53, up by 13% over the PCP. Overall sales are forecast to have lifted to $16.9B, up by 4.5% over the PCP. A steady flow of high-value government contracts has kept Lockheed's out of any trouble all 2020 and 2021. The Company currently has an order backlog worth $150B.

Lockheed and Hasbro will both be presenting their results before the market opens on Monday.

TSLA

Tesla Inc (NASDAQ: TSLA) will be reporting after the bell on Monday. Even as it beat its earnings per share estimates, the EV manufacturer has disappointed investors in its previous two quarters. For example, TSLA has lost 11% since its last report three months ago. Tesla is again expected to beat its estimates in Q2 2021. The third consecutive earnings beat might be enough to reverse the sell-off the Company has experienced in 2021.

Tuesday to Friday earning reports

I will omit comment on every Company in this article. Instead, separate pieces will be devised for each day of this week so that the information does not become overwhelming. For now, take note of the following lists and what days companies on your watchlist are reporting their earnings.

 

Tuesday:

 

Wednesday:

 

Thursday:

 

Friday:

While media attention has largely shifted to stories concerning record setting stock markets and volatile ‘meme stocks’ (a term now as meaningless as ‘hipster’ and ‘Karen'), the Crypto market has settled into its own subdued rhythm. 

A far less interesting rhythm in the Crypto market

The Crypto market is still thriving, but without the media attention that it enjoyed a couple of months ago. Admittedly, the price of many top digital assets practically halved in value from their peaks a couple of months ago. Although taken in the grand scheme of things, their respective present values are basically unchanged from where they were before Elon Musk lent his influence to Bitcoin and Dogecoin and kicked off the crypto bull run. 

As of July 2021, the top crypto assets have achieved a more ‘natural’ price, as evidenced by relative stability in their respective prices.

Trading the Crypto market becomes less exciting

crypto market

Stability entered the Crypto market about a month ago. Consequently, opportunities when trading digital assets has contracted slightly. Take, for example the past seven days, Bitcoin has moved less than 4.4% in price, while Litecoin has moved 5.2%. 

With this being so, the crypto space is vast, and many projects can still experience the volatility that traders are interested in taking advantage of.

Let’s explore some of the more volatile crypto assets of the past week. Coincidently, at the time of writing, more examples cropped up. Perhaps this is a sign of an uptick in volatility.

Dogecoin, down but not out

Dogecoin is still in a precarious position. The fanfare it generated earlier in the year hasn’t exactly dissipated, but its aura of excitement has definitely dimmed. Still, Dogecoins trade at US$0.20 per coin at the time of writing, which is at a price in an order of magnitude larger than where it was when, seven months ago, the calendar ticked over into 2021.

In the past seven days, Dogecoin has moved -15% in price.

Ethereum, potentially straying further from $2,000

ETHUSD

I hadn’t originally intended for this Ethereum to be included in this article, as it was moving sub-10% in the week. However, volatility has picked up recently. In the past seven days, Ethereum has moved -16.5%. Ethereum is currently trading at ~US$1,950.

Other notable movers in Crypto market in the past 7 days:

Internet Computer, down by 15.1%

Shiba Inu, down by 18.4%

Compound, down by 19.8%