Forex Volumes Decline, Ripple Sales Plummet and More: Editor's Pick

In a busy week of news, let's take a look at the stories that dominated the news cycle in our picks of the week segment.

Has the Bubble Burst for Brokers?

After reporting on record volumes for many Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term and CFD brokers in Q1, Finance Magnates covered a series of downturns this week.

Interactive Brokers' DARTs Down as COVID-19 Boost Loses Steam

In April, the number of DARTs were reported at 1.720 million transactions, a fall of 12% MoM from 1.96 million‎. Trading activity at Interactive Brokers LLC (NASDAQ:IBKR) lost some momentum in April with volumes easing. Although April's figures saw a decline, it was still the second-best reading ever for Daily Average Revenue Trades (DARTs).

Read more on the Interactive Brokers' DART decline here.

After Hitting $1.2T Milestone, Cboe FX Volumes Nosedive in April

As Finance Magnates reported, Cboe's institutional spot FX platform disclosed a total trading volume of $643 billion, down 46 percent on a month-over-month basis.

The decline saw trading volume fall to its lowest level since December 2019 and down 7% on an annual basis.

Read more on the Cboe FX trading volume plunge here.

All in Red: FXSpotStream Reveals Substantial Drop in FX Volumes

Another to suffer from the drop in volumes was FX SpotStream. Activity on FXSpotStream's trading venue, the aggregator service of LiquidityMatch LLC, dropped sharply last month to its weakest in five months.

The company reported an average daily volume (ADV) of $34 billion, which is lower on a monthly basis by 45 percent from $62 billion back in March 2020.

Read more on the FXSpotStream FX Volumes drop here.

TFX Forex Volumes Fall From March Highs in April, Stay Strong YoY

The last of the Finance Magnates reports of falling forex volumes covered TFX. Data from the Tokyo Financial Exchange (TFX) suggests that last month has not been as active as March.

April's combined trading volume fell by 61.6 percent, but it is still 68.4 percent higher on an annual basis.

Read more on the TFX trading volumes here.

Ripple Reports 87% Decline in XRP Sales for Q1 2020

Dominating the cryptocurrency news this week was Ripple's announcement of XRP sales for the first quarter of the year.

To many's surprises, Ripple announced a staggering 87% decline for the first three months of the year. The disappointing figures follow an 80% decline in the final quarter of 2019.

Read more on the Ripple Sales Decline and their reaction here.

Is Working From Home Fintech's 'New Normal'?: Analysis

In a Finance Magnates analysis, we looked at how the global coronavirus has affected the Fintech world and whether or not working from is the new normal.

With the help of David Mansell, co-founder and director of NEM Ventures, and others, we discussed the impact of coronavirus on the fintech world's working life.

Read more on is working from home Fintech's new normal? here.

Coronavirus & Altcoins: Why are Some Crypto Assets Beating Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term?

In a Finance Magnates analysis, we delved deep into why some altcoins have bounced back quicker than Bitcoin. With expert insight from David Waslen, CEO and founder of HedgeTrade and David Zeiler, cryptocurrency expert and associate editor of Money Morning, no stone or altcoin was left unturned.

Read more on Coronavirus and Altcoin here

Crypto Leaders on COVID-19: FREE LIVE WEBINAR

Announced last week, Finance Magnates is to host an unmissable free live webinar, presenting an invaluable opportunity for you to gain expert insight into the future of the cryptocurrency space.

Featuring four titans from the crypto space - Joe Lallouz, Marc Bhargava, David Gerard, and Zac Prince - this will be one webinar you do not want to miss.

For more details on the webinar, including registration, visit here.