Bitcoin falls 4% to $99,237
Bitcoin, the world's largest cryptocurrency by market value, was down by 4.13% at $99,237 at 10:52 a.m. ET (1452 GMT) on Sunday.
Pakistan allocates 2,000 MW to Bitcoin mining, AI data centers in bold digital economy push
Ether, the second-largest cryptocurrency, was down by around 8.52% at $2,199.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Recorder
24 minutes ago
- Business Recorder
Aluminium outperforms copper on energy cost concerns amid US-Iran tensions
SINGAPORE: Aluminium prices outperformed copper on Monday, with the most-traded contracts on the London and Shanghai exchanges surging, as US strikes on Iranian military sites drove up energy prices — a key cost factor for the energy-intensive metal. The LME three-month aluminium contract rose as much as 3.3% to $2,634.5 per metric ton, before easing to $2,580.50, up 1.22%, by 0101 GMT. Meanwhile, the SHFE most-traded aluminium contract was up 0.54% at 20,525 yuan ($2,859.23) a ton. In comparison, LME copper gained 0.16% to $9,648.5, and SHFE copper was up 0.31% at 78,420 yuan. 'Aluminium is more energy-price sensitive, so it has reacted more strongly to oil prices, and now the key is whether Iran will shut down the Strait of Hormuz,' a Beijing-based metals analyst from a futures company said, requesting anonymity. LME official prices The Strait of Hormuz is crucial for bauxite and alumina shipments in the Middle East, and power accounts for 40% of the total cost in aluminium smelting, he said. US President Donald Trump on Sunday raised the question of regime change in Iran following US strikes against key military sites over the weekend, as senior officials in his administration warned Tehran against retaliation. Brent crude futures were up 2.44% at $78.89 a barrel, as of 1122 GMT, the highest since January. LME zinc contract gained 0.5% to $2,643 a ton, lead inched up 0.1% to $1,994.5, and tin dipped 0.1% to $32,650. SHFE tin gained 1.2% to 263,950 yuan a ton, lead gained 0.4% to 16,925 yuan, and zinc went up 0.3% to 21,980 yuan.
Business Recorder
24 minutes ago
- Business Recorder
Indonesia central bank to continue interventions in FX markets to ensure rupiah reflect fundamentals, official says
JAKARTA: Indonesia central bank to continue intervening in the foreign currency markets to ensure the rupiah reflects its fundamentals, a bank official said on Monday after the rupiah had fallen to a fresh one-month low against the US dollar. The rupiah was down by about 0.5% on the day at 16,460 per dollar as of 0230 GMT, LSEG data showed. Indonesia central bank to give nearly $5 billion flexibility to banks to manage liquidity The depreciation occurred as investors sought to avoid riskier assets after the U.S attack on Iran's nuclear sites, Erwin Gunawan Hutapea, head of the monetary department at Bank Indonesia, told Reuters.
Business Recorder
an hour ago
- Business Recorder
South Korean shares off 3-1/2-year high after US strikes on Iran
SEOUL: Round-up of South Korean financial markets: South Korean shares fell on Monday as tensions escalated in the Middle East following the US strikes on Iran. The benchmark KOSPI lost 19.10 points, or 0.63%, to 3,002.74 as of 0243 GMT. On Friday, the index climbed above a key milestone of 3,000 points for the first time in 3-1/2 years. On Sunday, the world braced for Iran's response after the US attacked key Iranian nuclear sites, joining Israel in the biggest Western military action against the Islamic Republic since its 1979 revolution. South Korea's acting finance minister said authorities will closely monitor the financial markets and energy supplies and respond if needed. The country's exports for the first 20 days of June jumped 8.3% year-on-year after falling for the first time in four months in May, early data showed. South Korea's top trade negotiator said on Sunday he would raise concerns about potential US curbs on chipmakers in China at the meeting with US officials in Washington this week for the third round of technical discussions in tariff talks. Among index heavyweights, chipmaker Samsung Electronics fell 2.61% and peer SK Hynix lost 0.39%. Battery maker LG Energy Solution slid 3.93%. Hyundai Motor and sister automaker Kia dropped 4.05% and 3.14%, respectively. Steelmaker POSCO Holdings slid 3.62% and drugmaker Samsung BioLogics fell 2.17%. Of the total 936 traded issues, 246 advanced and 664 declined. Foreigners were net sellers of shares worth 345.6 billion won ($250.4 million). The won was quoted at 1,380.0 per US dollar on the onshore settlement platform, 0.43% lower than Friday's close of 1,374.0.
