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Bitcoin widens gains after reaching $4,000

Economies.com
2019-01-07 09:38AM UTC

Bitcoin rose marginally on Monday for another session after reaching $4,000 successfully, amid relatively improved investor demand on crypto assets in the new year. 

 

At Bitstamp, Bitcoin rose $15, or 0.35% to $4,055, with an intraday high at $4,070, and a low at $4,010. 

 

Bitcoin rallied 6.5% on Sunday, the second profit in three days, marking week highs at $4,090. 

 

Market value of cryptocurrencies rose a billion dollars on Monday to a total of $138 billion, the highest since December 24. 

 

Bitcoin rallied 5.5% last week, the second weekly profit in three as demand improved on the world's largest cryptocurrency.

 

In Japan, Bloomberg reported the Financial Services Agency is considering the listing of crypto exchange-traded funds. 

 

According to Bloomberg sources, the FSA is currently studying the interests and scope of such funds that track cryptocurrencies, a month after the same agency rejected requests to enlist crypto futures. 

 

Otherwise, the NYSE-backed Bakkt exchange announced the wrapping up of the first round of fundraising, with the company managing to raise $182.5 million through 12 partners and investors. 

Aldar Properties launches Reeman project worth AED2 billion

Economies.com
2019-01-07 10:34AM UTC

Aldar Properties on Monday announced the launch of Al Reeman project, with total investments reaching AED 2 billion, over an area of 2.8 million square meters, in Al Shamikha area near Abu Dhabi International Airport.

 

The multi-use project will provide medium-income owners of all nationalities housing and commercial land plots, the company noted.

 

The company said earlier this week it intends to deliver three projects in Abu Dhabi during 2019. CEO Talal Al Dhiyebi said these projects include Mayan, Yas Acres, which are located in Yas Island in Abu Dhabi, and which the company plans to deliver in the second half of 2019, according to Al-Ettihad newspaper. 

 

He added that the remaining units in West Yas will be delivered in the first quarter of 2019, after 60% of the units were delivered in 2018.

 

Yas Island also include Waters Age project, in which construction works are proceeding as per schedule.

 

Aldar earlier posted a 30.1% decline in net profit for the third quarter ended September 30, 2018, to AED 420 million, from AED 601 million in prior-year period.

 

The real estate developer also saw a decline in net profit for the first nine months of 2018 at AED 1.533 billion, from AED 1.861 billion in the same period a year ago.

 

 

Yen resumes gains against dollar

Economies.com
2019-01-07 07:03AM UTC

Dollar fell in Asian trade against yen away for the sixth session out of seven, following earlier data from Japan and ahead of US services data. 

 

As of 06:56 GMT, USD/JPY shed 0.26% to 108.23, with an intraday low at 108.02, and a high at 108.78. 

 

Earlier Japanese data showed the monetary base indicator released by Bank of Japan up 4.8% in December, slowing down from 6.1% while missing estimates of 5.8%. 

 

Now investors await US data on the ISM services PMI, expected to have slipped to 59.6 in December from 60.7. 

Litecoin settles lower for first session in four on profit-taking

Economies.com
2019-01-07 06:55AM UTC

Litecoin fell over one percent, or $0.4 on Monday off November 19 highs for another session on profit-taking after marking the third weekly profit in four. 

 

As of 06:48 GMT, Litecoin fell 1.10% to $39.637, with an intraday low at $38.890, and a high at $40.750. 

 

Litecoin was recently bolstered by reports the Financial Services Agency in Japan gave a licence back to Coincheck, an exchange that was recently hacked for nearly half a billion dollars, after showing proof of solid measures to ensure security and client protection. 

 

Litecoin lost 90% of market value in 2018 while marking losses for ten months out of the year, and registering the longest monthly losing streak since the first half of 2015. 

 

The Path of Litecoin

 

Litecoin was first publicly offered in the first half of 2013 at only $3, marking record lows at below $1 in early 2015 before taking off on its long and spotted journey higher. 

 

The cryptocurrency pierced $100 for the first time on November 29, 2017, before scaling a record high at $370.78 on December 19, and plummeting back below $100 on June 12, before marking 1-1/5 year lows recently at $22.54.