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  • MDEX: A strong contender in the DEX race | by Bit Media Buzz | Sep, 2021

    MDEX: A strong contender in the DEX race | by Bit Media Buzz | Sep, 2021

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    Bit Media Buzz

    There is a growing need for quality decentralized exchanges.

    As the global crypto demand ramps up amidst increasing popularity, the need for exchanges has concurrently risen. This has led to the entry of many new crypto exchange platforms into the mix. In the search for an exchange, both projects and users have to be careful and discerning in their choices. With crypto being largely unregulated, users are usually at the mercy of whatever exchange they are on.

    Besides regulatory issues, transaction fees and speed are also areas that users need to look into, with gas fees on some chains skyrocketing and transactional delays when the network is under heavy load.

    Along with conventional exchanges in the space, the need for decentralized exchanges is also growing. With regulatory pressure mounting on CEXes, decentralized finance is becoming more popular than ever. Its ability to stay out of the purview of the government means that many now flock to it. The current DeFi market capitalization stands at about $114B.

    Lesser known than its more popular counterparts, MDEX.COM is an automated market maker (AMM) that originated on the Huobi ECO-chain (HECO). Amid its ups and downs, the DEX has continued to grow throughout this year. However, can it stand out from the throng?

    MDEX’s current existence on both the HECO-chain and Binance Smart Chain (BSC) means that it boasts some of the fastest transfer speeds in the industry. This, combined with its low carbon footprint in comparison to Ethereum-based DEXes, makes it a strong competitor. The exchange’s mining feature means that over time the cost of transactions is similar to cheaper chains and with enough input, it can be net-zero.

    MDEX first came under the spotlight for pooling the highest 24-hour transaction volume in the history of DEXes. It also recorded the highest daily trading volume for both chains reaching USD 5.05 billion establishing itself as one of the strong DEX contenders in the market. The number of current addresses holding MDX tokens stands at 277,660 in total on the BSC & HECO Chain.

    Its multi-chain existence also means that there is flexibility in migration among pools. Gas fees for switching are lower than they would be otherwise and execution speed is only 3 seconds.

    MDEX began as an Ethereum and HECO-chain platform that uses an Ethereum Virtual Machine (EVM) address to connect with both chains. While reinforcing cross chain interoperability, MDEX introduced an on-chain non-custodial bridge between HECO-chain and Binance Smart Chain. This allows for unprecedented flexibility, meaning that there is now accessibility between the chains. Whatever tokens are needed on either network can be accessed through MDEX without the need for an intermediary. Most DEXes are native to one chain at the moment, MDEX is one of the exceptions and aims to support even more chains simultaneously.

    Last year’s crypto surge has led to a large influx of new users into the industry. Unlike seasoned traders, candlestick charts and analysis tools are like a whole new language to read for newcomers and are something they need to pick up with time. MDEX’s easy-to-use, user-friendly interface will be welcome among the droves of newcomers to crypto for its accessibility.

    The exchange also features a native launchpad. Initial MDEX Offering (termed IMO on MDEX) is among one of the best choices for dev teams looking to make a splash utilising an IDO launchpad. With multi-chain compatibility, projects will gain access to a far larger audience than they would otherwise.

    The platform’s IMO for Coinwind attracted a total of 8,874 participating wallet addresses and raised total funds of $385,891,505, over-collecting a staggering 25,726%. Its recent IMO for Demeter attracted 6,500 addresses, with a total of $350 million raised, and 23 million MDX tokens locked.

    Yet another feather in the exchange’s cap is its allowance of liquidity locking on its network. Users can lock liquidity for selected periods of time. In addition to the rewards they gain, this also makes the network stronger by increasing liquidity for all users. With the AMM capability on the chain, along with multiple locking options, the potential for returns is higher than is generally available elsewhere.

    MDEX users can earn by participating in three types of programs namely LP, Single, and Innovation. The available token pairs in liquidity pools include USDT, ETH, MDX & HT. Users can earn about 318.84% APY by staking their MDX tokens. The daily reward scheme across all programs exceeds $2 million as of Q4, 2021.

    Its native token, MDX, is also widely held by users. For this metric, it is second only to Pancakeswap and comes out ahead of even the popular Uniswap. The MDEX also burns MDX periodically, creating scarcity and driving the price of the token up.

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  • Do more with your crypto: beyond the buy and sell buttons

    Do more with your crypto: beyond the buy and sell buttons

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    Simply spend, earn, send, receive and trade 100+ cryptocurrencies and more on Coinbase

    • Direct deposit coming soon: customers will be able to deposit any percentage of their paycheck into their Coinbase account in crypto or USD
    • Coinbase Card adds ability to spend USD; offers new rewards with DAI, AMP and RLY; and general availability starts this Fall
    • Since the launch of Coinbase Earn in 2018 more than 6.5 million unique users on Coinbase have earned crypto

    By Max Branzburg, VP of Product, Coinbase

    Coinbase began with a radical idea that anyone should be able to easily, simply, and securely access bitcoin. We’ve come a long way since then.

    Today, consumers have more options than ever when looking for a place to buy and sell bitcoin. This is something to celebrate. It means crypto is gaining more adoption around the world.

    At Coinbase, our goal is to enable everyone to get more out of their money with the power of crypto. That’s why we’re determined to deliver the most trusted full suite of crypto-first financial services to our 68 million users.

    Get paid in crypto

    With more of their spending, earning, trading and borrowing happening on Coinbase, customers will need simpler ways to fund their Coinbase accounts. In the coming weeks, we’ll launch the ability for customers in the US to get paid into Coinbase. Customers can get paid in crypto or US dollars and can choose any percentage of their paycheck to deposit. With direct deposit, customers can more easily access our crypto-first financial services and be ready for any trade or purchase.

    Reimagine crypto spending and earning

    As customers look to the cryptoeconomy to meet their everyday financial needs, they need a way to easily make purchases with crypto and earn yield on their portfolio.

    Coinbase Card is a Visa® debit card that gives customers up to 4% back in crypto rewards¹ on every eligible purchase, so our customers can seamlessly buy everyday items with crypto². Here’s what’s new:

    • Starting this week, cardholders can spend US Dollars (as well as crypto), while earning crypto rewards
    • Coinbase Card holders can already choose to earn 1% back in ETH, DOGE, or BTC or 4% back in GRT or XLM. Starting this week, they can also choose to earn 1% back in DAI or 4% back in AMP or RLY.
    • All customers* in the US will be eligible to sign up for a Coinbase Card starting this Fall

    In addition to earning by spending, the ability to earn crypto without buying or transacting it has been critical in bringing more people into the cryptoeconomy. I’m excited to share that since the launch of Coinbase Earn in 2018, more than 6.5 million unique users have earned crypto for completing educational tasks such as watching videos and answering questions. Coinbase Earn is live today in 42 countries and we have plans to add more in the coming months.

    Designing for the cryptoeconomy

    Powered by crypto and blockchain technology, the cryptoeconomy has the opportunity to be a more fair, accessible, efficient, and transparent financial system for the internet age. Our goal is to be the gateway to this new financial system, by building a platform that is safe, trusted, and easy-to-use.

    That means designing products with a simple UX that makes our platform usable and intuitive for even the newest entrants to the cryptoeconomy. Our app was originally designed for trading a few dozen crypto assets, but as we continue to build out a full-suite of financial services for the cryptoeconomy, our UX needed an overhaul to accommodate.

    We made a number of improvements to our Mobile and Web apps, including:

    • A new ‘Assets’ tab to view your crypto holdings and discover new features
    • A revamped ‘Trade’ tab to help you research assets and transact for both novice & advanced traders alike
    • A new ‘Pay’ tab to access Coinbase Card and P2P payments for everyday spending
    • A new ‘For You’ tab to discover news, insights & education and engage with the broader cryptoeconomy

    Our goal is to deliver the best financial services that consumers are used to, but in an even better way with crypto and blockchain technology. Financial services built on crypto have the potential to enable more fair and equal access to wealth for anyone, anywhere, without prejudice. It’s still early days, but by building the foundation of the primary financial account, we’re one step closer to enabling more economic freedom for the world.

    *Coinbase Card will be available to all eligible customers in the US, excluding Hawaii.

    ¹Crypto rewards is an optional Coinbase offer.

    ²Coinbase will automatically convert all cryptocurrency to US Dollars for use in purchases and ATM withdrawals.

    The Coinbase Card is issued by MetaBank®, N.A., Member FDIC, pursuant to a license from Visa U.S.A. Inc. The Coinbase Card is powered by Marqeta.

    Do more with your crypto: beyond the buy and sell buttons was originally published in The Coinbase Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

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  • Now get your paycheck deposited into Coinbase

    Now get your paycheck deposited into Coinbase

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    By Prakash Hariramani, Sr Director, Product, Coinbase

    Over the next few weeks, we’re rolling out the ability for customers in the US to deposit their paycheck into Coinbase to more easily make regular crypto trades, spend on Coinbase Card, earn crypto rewards¹, and more. Get paid in crypto² or in US dollars and deposit as much³ or as little of your paycheck as you want. The future of payroll is coming.

    Get easy and zero-fee access to crypto

    There are many reasons why customers make frequent transfers into Coinbase: to make short or long-term investments, to earn interest on yield-generating assets, and to fund everyday purchases with Coinbase Card. However, customers tell us that making frequent transfers is time-consuming and inconvenient.

    Now, you’ll save time on the extra steps it takes to move money so you can immediately earn interest on your income or earn crypto rewards with your Coinbase Card. Plus, you’ll pay zero transaction fees on direct deposit funds⁴ so you have instant and free access to the cryptoeconomy.

    Maintain full control

    Stay in control of your money by depositing as little or as much of your paycheck as you want. Get paid in any of the 100+ crypto available on Coinbase or in US Dollars. Choose to get paid in crypto so you can make recurring buys or earn interest on your income (by getting paid in USDC, DAI, or other interest-yielding assets), or choose to get paid in US Dollars to be ready for any trade or to spend with your Coinbase Card.

    Set up just once

    You can set up direct deposit in just a few steps without leaving the Coinbase app. Tap direct deposit in the settings, follow the instructions, and find your current payroll company or employer, and we’ll automatically update your paycheck allocation. If you’d prefer to set up direct deposit manually, we’ll provide instructions on what to share with your HR department or employer payroll website. You can modify your direct deposit preferences at any time within your Settings.

    Enter the future of payroll

    As you begin to do more with your crypto from staking to spending to sending, we’re also making it easier for businesses to pay their employees in crypto. We’ve partnered with a number of companies, including Fortress Investment Group, M31 Capital, Nansen, and SuperRare Labs, to allow employees throughout the creator economy and financial services to enter the future of payroll.

    Stay tuned for announcements in the coming months as we make it easier for more businesses to pay employees in crypto.

    ¹Crypto rewards is an optional Coinbase offer.

    ²If you choose to be paid in crypto, Coinbase will automatically convert your paycheck from US dollars to crypto with no transaction fees.

    ³Limits apply, see terms.

    ⁴No Coinbase transaction fees but a spread applies when we buy, sell, or trade cryptocurrencies. Other standard fees may apply, and will be shared during Coinbase Card sign-up.

    The Coinbase Card is issued by MetaBank®, N.A., Member FDIC, pursuant to a license from Visa U.S.A. Inc. The Coinbase Card is powered by Marqeta.

    Now get your paycheck deposited into Coinbase was originally published in The Coinbase Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

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  • Ethereum Regains Strength, Why $3,200 Is The Key For More Upsides

    Ethereum Regains Strength, Why $3,200 Is The Key For More Upsides

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    Ethereum started a steady increase above $3,000 against the US Dollar. ETH price must clear the $3,200 to continue higher in the near term.

    • Ethereum started a strong increase from the $2,750 support zone.
    • The price is now trading above $3,000 and near the 100 hourly simple moving average.
    • There was a break a major declining channel with resistance near $2,925 on the hourly chart of ETH/USD (data feed via Kraken).
    • The pair must surpass $3,175 and $3,200 to continue higher in the near term.

    Ethereum Price Is Gaining Momentum

    Ethereum found a strong support near $2,750 and started a fresh increase, similar to bitcoin. ETH broke the $2,880 and $2,950 resistance levels to move into a positive zone.

    There was also a break a major declining channel with resistance near $2,925 on the hourly chart of ETH/USD. The pair settled above the $3,000 zone and near the 100 hourly simple moving average. It gained traction and climbed above the $3,100 level.

    Ether price is now facing resistance near the $3,175 zone. It traded as high as $3,165 and is currently correcting lower. An immediate support sits near the $3,065 level. It is near the 23.6% Fib retracement level of the upward move from the $2,740 swing low to $3,165 high.

    Ethereum Price

    Source: ETHUSD on TradingView.com

    On the upside, an immediate resistance on the upside is near the $3,165 level. The first major resistance is near the $3,175 level. The main breakout zone could be near the $3,200 zone. A close above the $3,200 resistance could push the price further higher. In the stated case, the price could rise towards $3,320.

    Dips Supported in ETH?

    If ethereum fails to continue higher above the $3,165 and $3,200 resistance levels, it could start a downside correction. An initial support on the downside is near the $3,065 level.

    The next major support seems to be forming near the $3,000 level and the 100 hourly simple moving average. Any more losses might call for a test of the 50% Fib retracement level of the upward move from the $2,740 swing low to $3,165 high at $2,950. If ether fails to stay above $2,950, it could resume its decline in the near term.

    Technical Indicators

    Hourly MACD – The MACD for ETH/USD is slowly losing pace in the bullish zone.

    Hourly RSI – The RSI for ETH/USD is now well above the 50 level.

    Major Support Level – $3,065

    Major Resistance Level – $3,175

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  • BTC, AVAX, ALGO, XTZ, EGLD

    BTC, AVAX, ALGO, XTZ, EGLD

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    China has attempted to stifle the crypto sector’s growth on several occasions in the past 12 years but barring a minor blip, the blanket bans on crypto-commerce have not altered the long-term growth of cryptocurrencies. This shows that no one country, even if it is the second-largest economy in the world, can halt the emergence and growth of cryptocurrencies.

    Deutsche Bank analyst Marion Laboure said in an update on the bank’s website that Bitcoin (BTC) is likely to “remain ultra-volatile in the foreseeable future” as most people buy it either for investment or for speculation rather than using it as a medium of exchange.

    However, Laboure believes that Bitcoin could become “the 21st century’s digital gold” and the trend could continue for centuries with no major control by the government.

    Crypto market data daily view. Source: Coin360

    At Morningstar’s yearly investment conference, Dennis Lynch, the head of asset management at Counterpoint, likened Bitcoin to the South Park cartoon character Kenny. Lynch said: “I like to say that bitcoin’s kind of like Kenny from South Park — he dies every episode, and is back again.”

    As the effect of the China FUD diminishes, let’s study the charts of the top-5 cryptocurrencies that may remain strong in the short term.