Trader’s Journal #14

Trader’s Journal
Trader’s Journal #14

1. IOTA price rises: what is the main reason?

A well-known Norwegian startup, “IOTA” has declared its shifting to a new development stage. This is related to the work on the creation of “Tangle.” The statement had a very positive impact on the price of the coin. In a matter of minutes, the token has grown from 42 to 53 cents. For one day, the trading volume has tripled (from 44 to 121 million). By the way, more than 40% of turnover fell on “Binance.”

Note that since November 2018, the price of IOTA hasn’t exceeded 50 cents. The last occasion that raised the price of the IOTA was the announcement of a partnership with “Jaguar Land Rover.”

IOTA rises in the price: what is the main reason?

But still, the main reason for the growth was a new stage of development, namely the emergence of technology called “Coordicide: the death of the Coordinator”.

2. Japan has adopted new legislation in the field of cryptocurrency regulation

By a majority vote, the Japanese House of Representatives approved the bill providing for changes in national legislation related to the regulation of bitcoin and other cryptocurrencies.

The new law prepared by the Financial Services Agency (FSA) of Japan involves amendments to two existing regulations related to cryptocurrency assets.

In particular, we are talking about the “Financial settlement act” and “Financial instruments and exchange act.” Changes are aimed at further protection of the consumers and increasing regulatory certainty, including tighter control over derivative products, as well as preventing the risks of exchange hacks.

In this context, additional provisions have been approved in the field of margin trading, allowing to limit the maximum leverage size to x2-x4.

In addition, the new provisions define a new legal term for cryptocurrencies — now they will be officially called “crypto assets” instead of “virtual currencies,” as it was until now.

This decision is consistent with a recent statement of the Finance Minister of Japan Taro Aso, who recommended the media to abandon the term “virtual currencies.”

3. ARK provided a free tool for quick set-up and launch of the blockchain

On May 28, the leading developer of blockchain solutions in the USA “ARK” has announced the new “ARK Deployer Tool.” With its help, users can run their own blockchain in a few minutes, writes “Nulltx.”

“ARK Deployer” greatly simplifies the use of blockchain by ordinary people and small businesses through the introduction of an intuitive interface. Now, any startup, company, or individual can launch and configure the blockchain to meet their individual needs.

Users are offered 3 levels of settings, which allows them to define such parameters as the payment structure, the number of participants, users’ rewards, and a lot of other functions. There is a detailed guide for inexperienced users, which describes all the steps: from the preparation to the launch of the blockchain.

Matthew Cox, the strategic director of “ARK,” is sure that blockchain security will attract many application developers and business owners, who are interested in creating their own blockchains quickly and easily.

Investy Platform Traders’ Stats

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Week Trading Pair — BTC to ETH

Week Exchange — Binance

25% of trades were closed with Take Profit

40% of trades were closed with Stop Loss

Other trades were closed by users themselves

 

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