FXN Week 5 Trading Update

 


Good day FXN and VAULT communities! 

 

It’s another successful trading week in the books for the FX Coin trading team. Bjorn and team delivered a respectable 6% in USD value, which is a remarkable feat given the continued difficult market conditions posed by the novel coronavirus. 

 

The coronavirus has ravaged global markets in recent days, with March 9 being one of the worst recorded days in history. Many refer to March 9 as “Black Monday” as global stocks recorded double digit losses. In particular, the Australian, French, and Italian markets were hit very hard, and the US recorded 7% losses on the day. 

 

Despite this, the FX team successfully traded currencies, oil, and gold. Check out some of the trades shared by Bjorn: 

 

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A successful day on 3/3, recording a total gain of $335.02. Successful trades on gold and the Euro. 

 

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A successful day on 3/4 , recording $183.28 in returns trading the Euro.

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A successful day on 3/7, recording a total net gain of $522.80 trading the Euro

 

Keep in mind that Bjorn is not the only active trader for FXN. In total, the team returned 6% on the total pool balance of $21,950, bringing the pool balance to approximately $23,267. These were the actualized gains for the week, and there are many trades still open for next week. 

 

In terms of BTC, the pool grew even more since BTC lost ground to the dollar. With Bitcoin’s price declining to ~$7,950, the BTC value of the pool is now 2.927.

 

So in total, the pool grew 6% against USD, and $10 against BTC.

 

As the pool continues to grow toward the 4 BTC mark, the FX team is preparing to resume buybacks. Stay tuned for more future updates, and join the VAULT discord server to learn more about FXN. 

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Editor Choice
Jun 19, 2020, 6:58 AM - Jonathan Lees