|All Time High:|
|Market Cap: |
|The price of #FOREX today is $0.022 USD.|
The lowest FOREX price for this period was $0, the highest was $0.022, and the current live price for one FOREX coin is $0.02171.
The all-time high FOREX coin price was $0.24.
Use our custom price calculator to see the hypothetical price of FOREX with market cap of BTC or other crypto coins.
|The code for handle.fi crypto currency is #FOREX. |
handle.fi is a newer coin by our records, at least 8.6 months in age.
|The current market capitalization for handle.fi is $2,755,714.|
handle.fi is ranked #732 out of all coins, by market cap (and other factors).
|The trading volume is modest during the past 24 hours for #FOREX.|
Today's 24-hour trading volume across all exchanges for handle.fi is $27,801.
|The circulating supply of FOREX is 126,918,530 coins, which is 30% of the total coin supply.|
handle.fi integrates Chainlink price feeds to bring decentralized Forex to Arbitrum One
the global DeFi FX protocol, handle.fi, is excited to announce it has integrated Chainlink Price Feeds on the Arbitrum One network, an Ethereum layer 2 scaling solution. By integrating the industry-leading Chainlink decentralized oracle network, the handle.fi protocol has access to high-quality, tamper-proof price feeds needed to maintain accurate stablecoin and FX pricing. This integration provides protocol users with stronger assurance that they are receiving the most up-to-date, accurate price references when creating and exchanging multi-currency stablecoins. initial integration involves the use of Chainlink Price Feeds for the following Forex currencies: CNY, KRW, EUR, PHP, and AUD. Chainlink was chosen as the go-to oracle solution because its infrastructure is seamless to integrate and time-tested in production. Chainlink already helps secure leading DeFi protocols responsible for tens of billions of dollars in smart contract value, maintaining robust security and high availability even amidst unexpected events, such as exchange downtime, flash crashes, and data manipulation attacks via flash loans. — Integrating DeFi multi-currency stablecoins with Chainlink. — at the beginning of 2021, the entire market capitalization of cryptocurrencies did not even match the daily spot volume of foreign exchange (Forex) markets. Despite considerable strides in innovation and the proliferation of USD stablecoin offerings...
it’s showtime troopers (42,)..
nnouncing the handle.fi protocol token generation event.. — here’s what you’ve been waiting for #troopers (42,🦍)we’re excited to announce the handle.fi Token Generation Event’- TGE. on september 21, 2021 we’ll be distributing up to 5% of the total FOREX supply to TGE participants. the TGE will operate across 10,080 blocks (~42 hrs) on the ethereum mainnet and during that time participants can contribute ETH. at cessation of the event all participants will receive $FOREX allocations (L2) prorata their % of the entire ETH contributed. the TGE will be open to all particpants, subject to some geographic restrictions. however we will be introducing a whitelist process allowing additonal rewards and bonuses! join whitelist — we’ll release more specific details and timings as we get closer, so be sure to follow us on twitter or join discord to stay up to date, in the meantime more TGE and token distribution details here.. — to celebrate this milestone we’re releasing a series of rewards to both thank our early community, and encourage a successful TGE outcome. some of the TGE specific bonuses include, **PIE #8 — TGE super boost** THIS IS A BIG ONE!!! whitelisted TGE participants will be eligible to win bonus FOREX in our 240,000 TGE super boost. thats ~$50,000 in FOREX rewards!!ONLY TGE PARTICPANTS WILL BE ELIGIBLE. **PIE #9 — TGE FOREX airdrop** TGE participants will also receive a...
the troop marches on
n update on progress from handle.fi — the global defi FX protocol.. — things are hotting up 🔥 as we get closer to mainnet launch and the TGE for our platform, and global #DeFi FX protocol.💱 we’ve certainly made a lot of progess since our last post, so it’s time for a #troop update.🦍 first up, lets do a walkthrough of the platform; where users can now; mint (kovan) fxTokens in a range of currencies. current eligible collateral includes ETH, wBTC, DAI with more asset types to come… borrow in their local currency, removing FX risk and making accounting easier. fxEUR, fxCNY, fxKRW, fxAUD are current stablecoins with more to come.mint fxTokens — multicurrency stablecoins burn (kovan) fxTokens quickly and easily to repay debt and manage vault collateral ratios.burn Fxtokens and repay debt convert between fxTokens, other stablecoins and tokens, using ethereum (kovan, mainnet) and Polygon (mainnet). our simple interface combined with advanced order routing and variable fee structures ensures easy DeFi FX exchange at competitive rates.convert on ethereum and polygon this feature is now LIVE, ready for use on ethereum L1 and polygon mainnets. further, we’ve launched the $FOREX reward program to encourage users to try it out. read more about it here, and start earning FOREX as you convert! manage fxToken vaults through your dashboard — view relevant ratios, int. rates and add and withdraw mu...
Foreign Exchange and DeFi
primer on handle.fi, the global defi FX protocol By the most reliable estimates, the daily turnover of the foreign exchange (FX) market is on average $6.6 trillion (or ~$2.4 quadrillion per year) with around $2.0 trillion per day being spot volume and roughly $4.5 trillion consisting of derivatives volume (1.BIS), making it the largest and most liquid market on the planet. Cryptocurrency and more specifically the emergent Decentralised Finance “DeFi” space is comparatively miniscule, though growing rapidly. On an average day in Ethereum for instance, decentralised exchanges produce between $2bn — $4bn in trading volumes (Dune Analytics), and the size of US dollar denominated fiat backed and collateralized synthetic market (“stablecoins”) is around just 50bn USD (Messari Research). In fact as of writing, the entire market capitalization of cryptocurrencies does not even match the daily spot volume of foreign exchange markets. Compared to the state of the space twelve months ago however, progress has been enormous . Although still incredibly nascent it is clear the foundational blocks for future growth are now being laid. DeFi now has functioning spot exchanges, derivatives exchanges, debt markets, insurance markets and asset management solutions to name a few. On the asset and protocol layer more exotic concepts such as NFT financial products and superfluid collateral are incoming, while scalability is being ...
More handle.fi (#FOREX) News
|Kenyan Central Bank Rejects Deputy President Rigathi Gachagua's Claims C...
The Central Bank of Kenya appeared to rebuke the country's new deputy president Rigathi Gachagua, after it rejected the latter's claims the East African nation lacks enough foreign exchange to import oil. According to the bank, all the foreign exchange used in private transactions and for oil imports is sourced from commercial banks. Central Bank Only Sources Forex for the Government
The Kenyan central bank has pushed back against remarks made by the country's deputy president Rigathi Gachagua which implied the East African nation lacks foreign exchange reserves to import fuel. In a statement, the bank said it 'does not supply foreign exchange for transactions other than for the national government.'
According to the bank, all the foreign exchange used in private transactions and for oil imports is sourced from commercial banks. This has been the case since the complete liberalization of the foreign exchange market in the 1990s, the bank's statement added.
In addition, the Central Bank of Kenya (CBK) insisted that it is mandated to adhere to the requirements of the country's central bank act. Known as the Central Bank of Kenya Act (26), the law requires:
[The CBK] at all times use its best endeavours to maintain a reserve of external assets at an aggregate amount of no less than the value of four months' imports as recorded and averaged for the last three preceding years.
Kenya's Bleak Prospects
According to the CBK, Kenya's import cover stood at 4.64 months as of September ...
|Forex Shortages Blamed After Nigerian Currency Hits New Low Versus the U...
A surge in the demand for foreign exchange and the general scarcity of the resource may be the reasons why the naira currency recently slumped to a new all-time low of 735 versus the U.S. dollar, a report has said. One Nigerian currency dealer said he expects the naira to further depreciate to 750 per dollar in October. Foreign Exchange Scarcity
On September 29, the Nigerian currency lost further ground versus the greenback after the naira's parallel market exchange rate slumped to 735 units per dollar. The naira's latest plunge came just days after the Central Bank of Nigeria (CBN) announced a 150 basis points (bps) upward adjustment of the monetary policy rate (MPR).
As reported by Bitcoin.com News just before the CBN's interest rate increase, one U.S. dollar bought 720 nairas on the foreign exchange parallel market. The Central Bank of Nigeria has in the past suggested that the naira's fall may be linked to the activities of currency speculators.
However, according to a report in the Business Post, the naira's latest plunge is potentially tied to the scarcity of foreign exchange as well as the surge in the demand for this resource. As explained in the report, the over 95% increase in forex requests on the official market - from $119.49 million to $223.30 million - may have played a part in accelerating the naira's fall to a new all-time low.
Naira Official Exchange Still Unchanged
To back the assertions that foreign exchange shortages have also contributed to the currency...
|Hong Kong Protects Local Currency in Forex Market Amid Capital Flight to...
Following the Bank of England explaining that it would be meddling in U.K. bond markets and the Bank of Japan defending the yen in the foreign exchange market last week, the Hong Kong Monetary Authority (HKMA) revealed it intervened in forex markets on Wednesday. Hong Kong's central bank detailed that it interfered in forex markets in order to defend the Hong Kong dollar (HKD) as it showed signs of weakness against the greenback on September 28.HKMA Interferes in Forex Markets to Defend the HKD From Capital Flight to USD Assets
While the euro and pound sterling lost 12-17% against the U.S. dollar during the last six months, there's been a significant amount of capital flight to the greenback. The Hong Kong dollar (HKD), however, has fared better than a myriad of fiat currencies worldwide against the U.S. dollar.
On Wednesday, September 28, reports detail that a 'flight of capital from the Hong Kong dollar market' pushed the HKMA to step in and defend the HKD in forex markets. South China Morning Post (SCMP) reporter Enoch Yiu explained on Wednesday that the HKMA said it intervened in order to 'support the peg after the local currency hit the weaker end of its HK$7.75 to HK$7.85 trading band.'
SCMP details that it's the first time in seven weeks the central bank defended the HKD in this fashion and the HKMA has chosen to intervene in the foreign exchange market 32 times this year. Year-to-date, the HKD/USD exchange rate is down 0.83% and the de facto central bank has purchase...
|Weighing the Benefits of Forex and Crypto Trading
When it comes to choosing between going into forex trading or crypto trading, there are a number of things that traders must take into account before picking one over the other. While there are traders who tend to do both, a lot of traders still go the route of picking one over the other to focus on. This report takes a look at the unique offerings provided by both crypto and forex trading, as well as the benefits associated with these highly sought-after markets.
Benefits Of Forex Trading
Forex trading is one of the oldest and largest forms of trading currently available. Simply put, it is the conversion of one currency to another in a bid to make money when one currency gains or loses strength against another currency. So, a trader buys a currency, say USD, waits for it to go up or down, depending on their position, and then sells for another currency. Here are the pros of forex trading.
One of the most important things when it comes to trading any type of asset is having enough liquidity. Given that the forex market is the largest in the world, recording an estimated $6.6 trillion in daily trading volume, there is a lot of liquidity in the market. This means that there is a good depth of market across the available trading pairs.
Leverage is something that is abundant in the forex market. Forex brokers are able to give incredibly high leverage to forex currency trading pairs due to the low volatility in the market. In some cases, leverage can go as high ...
|Ghana Central Bank Reiterates Warning Against Practice of Pricing Goods ...
The Bank of Ghana has warned businesses and the public against the practice of demanding or making payments in foreign currency without its authorization. The central bank's warning comes just over a month after Ghana's currency was rated the worst performing among Africa's top currencies. Violators Face Possible Prison Time
The Ghanaian central bank has reminded the public that the practice of receiving or making payments for goods and services in foreign currency without its express authorization is still prohibited. The bank also similarly warned businesses against 'engaging in foreign exchange business without a license issued by the Bank of Ghana.'
In a statement, the Bank of Ghana (BOG) said those caught on the wrong side of regulations face hefty fines. Alternatively, those in violation of the respective regulations face 'a term of imprisonment of not more than eighteen (18) months or both.'
Citizens Urged to Report Violations
According to the BOG, only the local currency, the cedi, is the sole legal tender in Ghana. The central bank also indicated it will descend on companies breaking the law and all offenders will be punished in accordance with the law. In the statement, the BOG said:
Bank of Ghana, in collaboration with National Security and law enforcement agencies, will continue to clamp down on illegal foreign exchange operations. All offenders shall be dealt with in accordance with the law.
Meanwhile, in the statement, the BOG said Ghanaian citizens should repo...
|Luna Foundation to Add $100 Million in AVAX to the UST Decentralized For...
Following the Luna Foundation Guard's (LFG) purchase of 5,040 bitcoin on Wednesday, the following day the Singapore-based non-profit announced it will be acquiring $100 million avalanche (AVAX) tokens. LFG detailed on Thursday that the purchase is meant to strategically align the Terra network with Avalanche ecosystems.LFG to Add $100 Million in Avalanche Backing to UST Reserve
On Thursday, the Luna Foundation Guard announced that it inked a deal with the Avalanche Foundation to acquire $100 million worth of AVAX, the Avalanche blockchain's native asset. LFG is a non-profit dedicated to fostering decentralized finance (defi) via the Terra (LUNA) network and the blockchain's algorithmic stablecoin UST. LFG detailed that the goal behind purchasing AVAX was meant 'to help bolster its UST Decentralized Forex Reserve and strategically align the two ecosystems.'
Both LFG and the Avalanche Foundation will be handling the transaction in an over-the-counter (OTC) fashion. AVAX will become the second non-correlated asset in the UST Reserve following the recent bitcoin (BTC) backing. The press release sent to Bitcoin.com News explains that LFG will pay for the AVAX using the stablecoin UST. The announcement also follows the Anchor Protocol adding AVAX support. Anchor executive Ryan Park announced on March 17 that Anchor now supports Avalanche via Xanchor (Cross Anchor), which is an 'extension to Anchor Protocol.'
'The premise of the UST Reserve is to provide a backstop against UST peg d...