Nasdaq Inc. is cleaning up on both sides of the Atlantic. In the U.S., the stock-exchange operator’s Nasdaq indexes are the country’s best-performing major stock benchmarks this year. In Europe, the Nasdaq-owned Copenhagen exchange’s index is leading the charge.
The market boom that pushed stocks, bonds and commodities to their best combined four-month spurt in decades has found its way into the most notoriously volatile and speculative asset on the planet: bitcoin. After trading flat for months, bitcoin rose as high as $11,868 on Saturday from around $9,100 in early July, extending its gain for 2020 to 65%.
Yields sink and prices rise as investors pile into risky corporate debt.
Data collected by The Block shows that the total volume for decentralized exchanges hit $4.3B billion in July, surpassing the previous record in June. The volume surge represents a 174% increase over the $1.5 billion performance in June.
Not quite a “Flash” but it was a “Crash” of sorts: Bitcoin and Ethereum crashed by 12% and 20%, respectively, in about six minutes, as more than $1 billion of positions were liquidated. Bitcoin’s price went from $11,930 to $10,550. By press time (Sunday), the price recovered to about $11,400.