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Earth Day turns 48 this year and millions of people in roughly 200 countries will unite Sunday to find ways to protect and celebrate the planet.
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For the first time since 1944, Queen Elizabeth II does not own a corgi. Willow, nearly 15 years old and the last of the monarch’s long line of corgis, was reportedly put down after a battle with cancer, though Buckingham Palace says it is a private matter and is not…
In an ABC interview certain to draw some angry tweets from President Trump, former FBI director James Comey slammed the president as “morally unfit” to lead. In the interview with George Stephanopoulos, which aired Sunday night, Comey reiterated much of what he says in upcoming memoir A Higher Loyalty , likening…
Southern California drivers are paying the highest pump prices for gasoline in 2 1/2 years amid fears that prices could jump even further if the United States takes military action against Syria.
The upswing in prices reflects not only rising crude-oil prices but also a higher state gasoline tax,…
Space tourism firm Virgin Galactic conducted the first rocket-powered flight test of its new SpaceShipTwo Thursday in Mojave since a 2014 fatal accident.
The Mojave company has conducted a series of glide tests but had not fired up the spaceship’s rocket-powered motor. The spaceship, dubbed VSS…
Human remains discovered last month buried in the basement of a home on New York’s Long Island have been identified as that of a woman who went missing in 1966.
Malala Yousafzai has returned to the country where she was shot and almost killed six years ago for campaigning for girls’ education—and where Taliban militants have vowed to finish the job if she ever comes back. The 20-year-old activist, who was 15 when she was shot along with two…
As if it wasn’t clear enough, we just got another indication that the cryptocurrency markets have soured for price speculators. One of the biggest names in the contracts-for-difference field, IG Group, has revealed that crypto CFD trading is on the decline this year.
Cryptocurrency Trading Fattens IG Group’s Profit Margins
UK-headquartered CFD and spread-betting giant IG Group (LON:IGG) has reported its quarterly results for the three months period which ended 28 February 2018, showing cryptocurrency trading had a great positive impact on its bottom line.
The FTSE-250 brokerage has had a record performance in terms of revenue, reaching a net of £152.9 million which is 30% higher than in the same period in the prior year, and 13% higher than the company’s previous record revenue quarter. Clients trading in cryptocurrencies accounted for an impressive 11% of revenue in the period, up from just 1% the year before. However, IG Group also warned investors that cryptocurrency trading by its clients has slowed markedly since the end of January.
Crypto Mania Has Already Peaked
Unsurprisingly given these results, the company’s following conference call for analysts and investors focused mainly on this issue. CEO Peter Hetherington said: “The crypto mania I think peaked as we approached Christmas, and then if you look at the interest from clients it has fallen away pretty markedly since then. I think whichever measure you track, whether it’s the price of crypto or whether it’s the volume of searches on the internet for crypto trading terms, or any other combination, I think you’d say that the wave has, to a large degree, passed in terms of client interest.”
“And whilst the price of crypto is still volatile by any normal standard it’s a tiny fraction of the volatility that you were seeing in the so-called asset class in the period around Christmas and in January. So, I’d just say it’s stopped moving anything like as much, although it’s still moving a lot, and client interest has fallen away a great deal both from informed and less-informed clients, and as a result the amount that people are trading on the asset class has fallen very considerably since the end of January. That’s not to say it will never restart but I think absent the price of crypto changing a great deal, probably up, it’s not going to be massively significant for the foreseeable [future].”
When should we expect to see the cryptocurrency markets exciting traders again? Share your thoughts in the comments section below!
Images courtesy of Shutterstock, IG Group.
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Rick Ross returned to the stage for the first time this weekend since his hospitalization, and one of his main orders of business was shouting out his locked up label mate, Meek Mill. Da Boss performed early Sunday morning at The Light…
Tommy Lee still might not be over getting punched by his son … but at least it looks like his face is back to normal. The retired rock star was spotted out in Woodland Hills Friday — with his fiancee Brittany Furlan — for the first time since he…