- Bitcoin Price Declines on Spot ETF Flow, Stagflation Concerns
- Worldcoin Sinks 6%, Eightco Holdings Discloses 8.4% Holdings
- Nigeria Launches Global Investors’ Expo to Market Credible Projects
- Dangote Refinery Tops U.S. as Europe’s Largest Jet Fuel Supplier
- Nigerian Stock Market Surges as Investors Gain N192bn
- Cardano Gains 10% on Inter-Blockchain Communication Launch
- Risk-On: South African Rand Steadies Versus US Dollar
- Tinubu Orders EFCC to Vacate Court Order on Osun’s N11bn Probe
Author: Julius Alagbe
Julius Alagbe is a senior financial journalist and Editor at MarketForces Africa with nearly two decades of experience in finance, accounting, and economics reporting.He is one of Nigeria's most prolific financial market reporters, covering capital markets, monetary policy, corporate earnings, banking, telecoms, and macroeconomic developments across Africa.Julius has built a strong footprint reporting on Nigeria's leading corporates and financial services sector, including coverage of the Nigerian Exchange Group, Central Bank of Nigeria monetary operations, MTN Nigeria, GTCO, and major investment banking transactions.He regularly monitors the CBN’s open market operations, interbank FX markets, and equity market movements, providing readers with real-time intelligence on Nigeria’s financial landscape.His reporting draws on direct access to institutional research from firms including Moody’s Ratings, CardinalStone Securities, Fitch, and other leading African investment houses.Julius brings analytical depth and editorial rigour to every story, making complex financial data accessible to professionals, investors, and policymakers across Africa.Julius Alagbe is based in Lagos, Nigeria.
DeXe price (DEXEUSD) climbed 14.76% to $22.67, significantly outperforming Bitcoin’s +1.7% gain, driven primarily by a broad rotation into high-performing altcoins.
The South African rand is trading flat against crosses on Monday as a surprise US May jobs report fueled a broad dollar rally and crushed emerging-market currencies.
Zcash (ZEC) price rose by about 20% to $427.50, sharply outperforming a modest market-wide rise, primarily driven by restored confidence following the patch of a critical bug.
Ethereum price (ETHUSD) increased by 5% to $1,628, outperforming a broader market rebound, primarily driven by a short squeeze after an extreme sell-off. Dip buyers stepped up at the extremely depressed price of $1.5k after sustained sell pressure.
Nigeria’s foreign reserves topped $50 billion in the first week of June due to sustained FX receipts across key sources, data from the Central Bank of Nigeria (CBN) revealed.
Abbey Mortgage Bank Plc soared by more than 47% in 5 days as investors increased bets on the Nigerian lender following the announcement of Central Bank (CBN) regional licence approval last week.
Hyperliquid (HYPEUSD) declined by 6% to $56.87, underperforming a broader market that was also declining, primarily driven by a major scheduled token unlock.
The crypto market capitalisation plunged to $2.1 trillion over 24 hours, primarily driven by a massive cascade of liquidations that amplified selling pressure.
Ripple (XRP) price declined 5% to $1.07 during the early trading session on Saturday, underperforming a broadly weak crypto market primarily driven by whale distribution colliding with persistent U.S. regulatory uncertainty.
The naira softened against the US dollar as international payments outweighed FX liquidity at the Nigeria Foreign Exchange Market (NFEM) on Friday, according to an official report from the authority.