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Crypto Shuttle News

Tag: Trading

  • Cryfi Releases V1 of Blockchain-Verified Signal Trading App on Telegram, with Founder Pass NFT Sale to Launch May 3 | by BitMedia Buzz | Apr, 2024

    Cryfi Releases V1 of Blockchain-Verified Signal Trading App on Telegram, with Founder Pass NFT Sale to Launch May 3 | by BitMedia Buzz | Apr, 2024

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    InsiderFinance Wire

    Providing Proof-of-Signal, Cryfi’s trading signal platform features blockchain-verified signals and a leaderboard of top signal providers. Offering the perfect combination of control and automation, Cryfi users will be able to easily copy and adjust signals and then automatically implement these signals on CEXs and DEXs via API integration.

    SINGAPORE, April 11, 2024 — Cryfi, a blockchain-verified trading signal platform, has released its Alpha version as a Telegram Mini App that goes beyond basic copy-trading to make it easier to not only share but adjust and implement trading signals. Cryfi’s Founder Pass NFT collection that grants users numerous perks on the platform will also be made available for early Cryfi supporters on May 3rd. The full-featured web-app launches later this year with the world’s first blockchain-verified trading signals and leaderboard.

    “We’re developing Cryfi’s on-chain verification to bring trust and transparency to crypto trading and remove the scam-traders that the space has become famous for,” said Cryfi founder and CEO Yura Mizin. “As we enter crypto’s next bull run, more and more people are keen to start trading. There is no better way to learn how than to follow and listen to the best traders on the market today. However, since it’s currently impossible to verify someone’s trading skills, too many people end up following fakers who claim to be pros.”

    Cryfi addresses these problems and more.Providing Proof-of-Signal, Cryfi’s trading signal platform features blockchain-verified signals and a leaderboard of top signal providers. Offering the perfect combination of control and automation, Cryfi users will be able to easily copy and adjust signals and then automatically implement these signals on CEXs and DEXs via API integration.

    Trading channel subscriptions, member management and promotions will be automatically handled for signal providers, so they can focus on trading and building their reputations. Meanwhile, traders can learn all the best trading strategies together via trading courses and a closed discussion group with top-performing signal providers on the platform.

    “Cryfi will be like a passport — a blockchain-verified certificate that showcases your trading capabilities. In addition, Cryfi will offer plenty of other features to help traders and signal providers trade more quickly and efficiently.”

    Available now, Cryfi’s Alpha version is a Telegram Mini App that allows signal providers more efficiently share their signals in their own existing communities, with automatic integration with Binance via API. The full-featured web-app platform is scheduled for launch in Q3 2024, with Cryfi’s $CRFY token scheduled to launch in early 2025. The whitelist for their Founder Pass NFTs is already open, with an official Cryfi Galxe campaign ongoing until May 3rd with USD 6,000 worth of NFTs to give away. Stay tuned to their social media channels for the launchpad reveals.

    Founder Pass NFTs Available May 3: Numerous Perks for Early Supporters

    The Founder Pass is a limited edition collection of 430 utility NFTs that give early supporters many distinct benefits on the Cryfi platform — such as a membership in a closed group with pro traders and lifetime subscriptions to trading courses and Cryfi Pro, which will allow traders to copy and adjust signals and technical analysis on the live chart. There are two tiers of NFTs: the Shark Pass, which caters to novice traders, and the Whale Pass, which grants additional perks such as profit sharing, larger discounts and forever access to signal channels to Cryfi’s top ambassadors. Both tiers have plenty of other perks, too. See the official Cryfi Medium blog for more information about all the benefits of owning a Cryfi Founder Pass NFT.

    Founder Pass NFT Details

    • Shark Pass: $300 each, 404 NFTs in total
    • Whale Pass: $3000 each, 26 NFTs in total

    To earn a spot on the Founder Pass whitelist prior to the NFT launch, supporters should visit the Galxe campaign page linked below and complete the social tasks listed there. The top 50 participants will earn a guaranteed chance to purchase Founder Pass NFTs. All participants will also receive a free Early Supporter badge and be entered into raffles, with prizes coming from a pool of NFTs worth USD 6,000.

    Participate in the Galxe campaign here: https://app.galxe.com/quest/Cryfi/GCFddtTagR

    Top Partners to Bring Further Value to the Cryfi Platform

    Cryfi is also forging a number of important partnerships that will bring new features to the platform. One key partner is Analog, a company which is developing a suite of multi-chain protocols. Analog’s interoperability technology will help Cryfi query other blockchains to seamlessly compare signal prices with real prices, and trade signals across chains without having to deal with smart contracts.

    “One of our visions is to help move traders from Web2 to Web3. While most people are familiar with the big names in the crypto space — Bitcoin, Binance, Ethereum and so forth — a lot of traders are not actually Web3 users. We want to change that,” Mizin said. “Lucky for us, Analog has all the tools we need to achieve this.”

    Other partnerships will add new capabilities to the Cryfi platform post-launch. Copin will bring their on-chain traders to Cryfi as signal providers, Yoki Finance will bring crypto payments for channel subscriptions, and the quant trading platform Crypto Arsenal will onboard Cryfi’s signal providers as additional analytics sources. Further big features coming up include copytrading, algorithm trading, trading bots and AI bots.

    Cryfi’s team of experts boasts more than 50 years experience in product development, 30 years in blockchain, and 10 years in trading combined. Team members have worked with a number of leading brands, including Equifax, HTX and other fintech leaders in the Web2 and Web3 spaces.

    See how Cryfi works in this video:

    Cryfi is More Than Just Another Trading Platform — It’s a Trading Community

    By providing a fair and transparent social space where traders and signal providers can share ideas, Cryfi is building a real community of people with similar goals. Anyone can submit trading signals on Cryfi — their blockchain-verified track record will speak for itself on Cryfi’s leaderboard. This removes a huge barrier of entry for new signal providers, while ensuring Cryfi is represented by some of the best traders on the market.

    Supporters who join early will enjoy the benefit of utilizing the first blockchain-verified trading signals on the market, giving them increased trust in the validity of their trading strategies that most other trading communities cannot offer. Founder Pass NFT holders will also be the first to try out all new features Cryfi adds to its platform, giving them a distinct advantage when compared to members who join the platform later on.

    About Cryfi

    Launched in 2024, Cryfi is a crypto trading app that connects traders with blockchain-verified signal providers. The newly released MVP is available as a Telegram Mini App that allows for easy creation and implementation of trading signals. A future version is being developed that will include a mobile app, signal channel subscriptions, a leaderboard for top-performing signal providers, API integration with more centralized exchanges and DEXs, a trading school, and more.

    Official Channels

    Cryfi Website: https://cryfi.app/

    Cryfi Twitter: https://twitter.com/Cryfi_app_

    Cryfi Medium Blog: https://medium.com/@cryfi_app

    Cryfi Telegram (Announcements): https://t.me/+GggbNqo8GLcwNTVi

    Cryfi Telegram (Chat): https://t.me/cryfi_official

    Cryfi V1 (MVP): https://t.me/CryfiBot

    Cryfi LinkedIn: https://www.linkedin.com/company/cryfi/

    Cryfi Whitepaper: https://cryfi.gitbook.io/cryfi

    Cryfi Video: https://www.youtube.com/watch?v=6Q3gpqiqVp0

    Cryfi Whitelist Galxe Campaign: https://app.galxe.com/quest/Cryfi/GCFddtTagR



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  • Bitget’s Crypto Trading Volume Surges over 100% in Q1 2024

    Bitget’s Crypto Trading Volume Surges over 100% in Q1 2024

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    Bitget, one of the biggest cryptocurrency exchanges by volume, has released its Q1 2024 Transparency Report, revealing visible growth across various metrics. The
    report highlighted a 100% increase in both spot and futures trading volumes
    compared to previous quarters, along with a significant rise in the value of
    its platform native token, BGB.

    According
    to the report, Bitget’s futures trading volume reached approximately $1.4
    trillion, an escalation of 146% from the previous quarter. The exchange witnessed the
    highest increase in derivatives market share, with a growth of 2.4% in March
    alone. The spot trading volume also saw a substantial uplift of 113%, surpassing
    $60 billion in Q1 2024.

    According to an independent report by Finance Magnates Intelligence, these figures coincide with the overall boost in volumes across the cryptocurrency industry.
    In March, spot volumes for the largest cryptocurrency exchanges grew 119%
    compared to the previous year and over 100% compared to February.

    Bitget’s
    user base has expanded significantly, now serving over 25 million users
    across 100+ countries and regions.

    “This
    year, Bitget is doubling down on its commitment to enhance our spot market
    offerings,” Gracy Chen, the Managing Director of Bitget, commented. “We aim not
    only to bolster our market position but also to contribute tremendously to the
    broader crypto ecosystem, supporting startups with high potential to
    grow.”

    Bitget Bets on Its Crypto
    Token

    The
    platform’s native token, BGB, had a really good run last quarter, breaking its
    all-time high and surpassing the $1 mark in February. Since the beginning of
    2023, BGB has delivered gains of 434%, outperforming Bitcoin and establishing
    itself as a top performer among centralized exchange tokens.

    Currently,
    it is one of the 70 largest cryptocurrencies, with a market capitalization of
    over $1.8 billion and a daily trading volume of $81 million. Binance exchange’s BNB token has a market capitalization of $89 billion.

    Bitget’s listing
    strategy led to the introduction of 186 new tokens in the first quarter,
    expanding its offerings to over 750 tokens and 820 spot trading pairs. Several
    tokens, such as XAI, GPT, and PIXEL, experienced extraordinary growth, surging
    over 3000%.

    According
    to the latest exchange report, more people are trading
    cryptocurrencies in Europe. In Germany alone, the number of traders has
    escalated 69% over the year.

    In the meantime,
    Bitget Wallet hired a new Chief Operating Officer, Alvin Kan, to accelerate its global
    expansion.

    Bitget, one of the biggest cryptocurrency exchanges by volume, has released its Q1 2024 Transparency Report, revealing visible growth across various metrics. The
    report highlighted a 100% increase in both spot and futures trading volumes
    compared to previous quarters, along with a significant rise in the value of
    its platform native token, BGB.

    According
    to the report, Bitget’s futures trading volume reached approximately $1.4
    trillion, an escalation of 146% from the previous quarter. The exchange witnessed the
    highest increase in derivatives market share, with a growth of 2.4% in March
    alone. The spot trading volume also saw a substantial uplift of 113%, surpassing
    $60 billion in Q1 2024.

    According to an independent report by Finance Magnates Intelligence, these figures coincide with the overall boost in volumes across the cryptocurrency industry.
    In March, spot volumes for the largest cryptocurrency exchanges grew 119%
    compared to the previous year and over 100% compared to February.

    Bitget’s
    user base has expanded significantly, now serving over 25 million users
    across 100+ countries and regions.

    “This
    year, Bitget is doubling down on its commitment to enhance our spot market
    offerings,” Gracy Chen, the Managing Director of Bitget, commented. “We aim not
    only to bolster our market position but also to contribute tremendously to the
    broader crypto ecosystem, supporting startups with high potential to
    grow.”

    Bitget Bets on Its Crypto
    Token

    The
    platform’s native token, BGB, had a really good run last quarter, breaking its
    all-time high and surpassing the $1 mark in February. Since the beginning of
    2023, BGB has delivered gains of 434%, outperforming Bitcoin and establishing
    itself as a top performer among centralized exchange tokens.

    Currently,
    it is one of the 70 largest cryptocurrencies, with a market capitalization of
    over $1.8 billion and a daily trading volume of $81 million. Binance exchange’s BNB token has a market capitalization of $89 billion.

    Bitget’s listing
    strategy led to the introduction of 186 new tokens in the first quarter,
    expanding its offerings to over 750 tokens and 820 spot trading pairs. Several
    tokens, such as XAI, GPT, and PIXEL, experienced extraordinary growth, surging
    over 3000%.

    According
    to the latest exchange report, more people are trading
    cryptocurrencies in Europe. In Germany alone, the number of traders has
    escalated 69% over the year.

    In the meantime,
    Bitget Wallet hired a new Chief Operating Officer, Alvin Kan, to accelerate its global
    expansion.



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  • Crypto.com’s Dubai Entity Cleared for Full Operations in Institutional Trading

    Crypto.com’s Dubai Entity Cleared for Full Operations in Institutional Trading

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    Crypto.com has received full operational approval from
    the Virtual Assets Regulatory Authority (VARA) for its Dubai entity, CRO
    DAX Middle East FZE. This approval paves the way for the launch of the
    Crypto.com Exchange, a platform targeting institutional investors in the region.

    The VARA’s approval signifies Crypto.com’s
    compliance with the pre-operational conditions outlined in the Virtual Asset
    Service Provider license granted to CRO DAX Middle East FZE in November
    2023. The license allows the crypto exchange to operate in the region with fiat
    capabilities.

    Stuart Isted, the General Manager for Middle East and
    Africa at Crypto.com, mentioned: “We are incredibly supportive of the
    steps Dubai is taking to progress the crypto industry, both in-market and
    abroad. But this is still just the beginning, and we
    look forward to continuing to work closely with VARA in our collective efforts
    to effectively and responsibly advance the sector.”

    Crypto.com Exchange is
    designed for institutions and qualified retail investors. It
    offers a range of services, including spot trading, staking brokerage, and
    over-the-counter offerings in settlements for selected markets.

    According to the press release, the crypto firm plans
    to expand its offerings in the region in the coming months. The expansion
    includes a rollout of the Crypto.com app and other products for retail investors. Last year, Crypto.com secured a Minimal Viable Product
    (MVP) Preparatory license from the VARA. This license followed a provisional
    approval previously obtained by the crypto exchange.

    Dubai’s Crypto Regulatory Landscape

    Established under the Dubai Virtual Asset Regulation
    Law, VARA has been instrumental in positioning Dubai as a burgeoning global
    crypto hub. The authority aims to foster a robust ecosystem for virtual assets,
    attracting key players into the region.

    With the issuance of the MVP Preparatory license,
    Crypto.com joins the ranks of prominent crypto exchanges with the capability to
    offer a spectrum of crypto products and services, including spot and
    derivatives instruments for virtual assets. Besides that, Crypto.com has obtained licenses in
    major markets, including the United Kingdom, France, Italy, and Brazil.

    Meanwhile, Crypto.com recently unveiled plans to launch a specialized trading platform exclusively for Korean users. Scheduled for release on April 29, 2024, the platform aims to cater to the unique preferences and needs of Korean investors. The firm emphasized Korea’s cultural influence and the adoption of new technologies as key factors driving this initiative.

    Crypto.com has received full operational approval from
    the Virtual Assets Regulatory Authority (VARA) for its Dubai entity, CRO
    DAX Middle East FZE. This approval paves the way for the launch of the
    Crypto.com Exchange, a platform targeting institutional investors in the region.

    The VARA’s approval signifies Crypto.com’s
    compliance with the pre-operational conditions outlined in the Virtual Asset
    Service Provider license granted to CRO DAX Middle East FZE in November
    2023. The license allows the crypto exchange to operate in the region with fiat
    capabilities.

    Stuart Isted, the General Manager for Middle East and
    Africa at Crypto.com, mentioned: “We are incredibly supportive of the
    steps Dubai is taking to progress the crypto industry, both in-market and
    abroad. But this is still just the beginning, and we
    look forward to continuing to work closely with VARA in our collective efforts
    to effectively and responsibly advance the sector.”

    Crypto.com Exchange is
    designed for institutions and qualified retail investors. It
    offers a range of services, including spot trading, staking brokerage, and
    over-the-counter offerings in settlements for selected markets.

    According to the press release, the crypto firm plans
    to expand its offerings in the region in the coming months. The expansion
    includes a rollout of the Crypto.com app and other products for retail investors. Last year, Crypto.com secured a Minimal Viable Product
    (MVP) Preparatory license from the VARA. This license followed a provisional
    approval previously obtained by the crypto exchange.

    Dubai’s Crypto Regulatory Landscape

    Established under the Dubai Virtual Asset Regulation
    Law, VARA has been instrumental in positioning Dubai as a burgeoning global
    crypto hub. The authority aims to foster a robust ecosystem for virtual assets,
    attracting key players into the region.

    With the issuance of the MVP Preparatory license,
    Crypto.com joins the ranks of prominent crypto exchanges with the capability to
    offer a spectrum of crypto products and services, including spot and
    derivatives instruments for virtual assets. Besides that, Crypto.com has obtained licenses in
    major markets, including the United Kingdom, France, Italy, and Brazil.

    Meanwhile, Crypto.com recently unveiled plans to launch a specialized trading platform exclusively for Korean users. Scheduled for release on April 29, 2024, the platform aims to cater to the unique preferences and needs of Korean investors. The firm emphasized Korea’s cultural influence and the adoption of new technologies as key factors driving this initiative.



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  • Crypto.com Unveils Tailored Trading Platform for Korean Market

    Crypto.com Unveils Tailored Trading Platform for Korean Market

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    Crypto.com, a global cryptocurrency exchange, unveiled plans
    today (Tuesday) to introduce a specialized trading platform application
    designed exclusively for the Korean market. The application, tailored to cater
    to the preferences and needs of Korean users, is set to be launched on April
    29, 2024, offering trading between various cryptocurrencies.

    With this development, Crypto.com becomes the first
    international cryptocurrency exchange to venture into the Korean market,
    signaling its focus on expanding its global footprint. The Chief Operating
    Officer of Crypto.com, Eric Anziani, highlighted Korea’s tech-savvy populace
    and its inclination towards embracing innovative technologies as key factors
    driving the decision to focus on the Korean market. Moreover, he emphasized
    Korea’s influence as a cultural powerhouse, indicating the exchange ‘s intention
    to support Korean creators and artists through strategic partnerships.

    Eric Anziani, Chief Operating Officer of Crypto.com, Source: LinkedIn

    “The first product we will be launching in Korea is the
    crypto.com app, which is our most popular product globally. It’s a fully mobile
    product offering a convenient and safe way to buy, sell and store digital
    assets, including non-fungible tokens, enabling Korean customers to access
    global prices in a regulated manner,” he commented.

    Patrick Yoon, the General Manager of Crypto.com’s Korean
    operations, emphasized the company’s dedication to catering to the unique
    demands of the Korean market. He stated that Crypto.com has been prioritizing
    localization efforts for the past two and a half years, ensuring that its
    services align with the preferences and regulatory requirements of Korean
    users.

    “Once our coin trading service is stabilized in the
    Korean market, we plan to ultimately advance into the Korean won-based trading
    market in the future,” Yoon added.

    Navigating Regulatory Landscape for Korean Market Entry

    Patrick Yoon, General Manager of Crypto.com, Korea, Source: LinkedIn

    One such regulatory requirement in Korea mandates
    cryptocurrency exchanges to establish partnerships with commercial banks to
    verify the real-name accounts of their customers. Yoon revealed ongoing
    discussions with local banks to secure potential partnerships for real-name
    account authentication.

    Presently, there are five won-based cryptocurrency exchanges
    authorized by Korean financial authorities, including UpBit, Bithumb, Coinone,
    Korbit, and GOPAX. By entering the Korean market, Crypto.com aims to provide
    users with an alternative trading platform while fostering healthy competition
    and innovation in the local cryptocurrency ecosystem.

    Crypto.com, a global cryptocurrency exchange, unveiled plans
    today (Tuesday) to introduce a specialized trading platform application
    designed exclusively for the Korean market. The application, tailored to cater
    to the preferences and needs of Korean users, is set to be launched on April
    29, 2024, offering trading between various cryptocurrencies.

    With this development, Crypto.com becomes the first
    international cryptocurrency exchange to venture into the Korean market,
    signaling its focus on expanding its global footprint. The Chief Operating
    Officer of Crypto.com, Eric Anziani, highlighted Korea’s tech-savvy populace
    and its inclination towards embracing innovative technologies as key factors
    driving the decision to focus on the Korean market. Moreover, he emphasized
    Korea’s influence as a cultural powerhouse, indicating the exchange ‘s intention
    to support Korean creators and artists through strategic partnerships.

    Eric Anziani, Chief Operating Officer of Crypto.com, Source: LinkedIn

    “The first product we will be launching in Korea is the
    crypto.com app, which is our most popular product globally. It’s a fully mobile
    product offering a convenient and safe way to buy, sell and store digital
    assets, including non-fungible tokens, enabling Korean customers to access
    global prices in a regulated manner,” he commented.

    Patrick Yoon, the General Manager of Crypto.com’s Korean
    operations, emphasized the company’s dedication to catering to the unique
    demands of the Korean market. He stated that Crypto.com has been prioritizing
    localization efforts for the past two and a half years, ensuring that its
    services align with the preferences and regulatory requirements of Korean
    users.

    “Once our coin trading service is stabilized in the
    Korean market, we plan to ultimately advance into the Korean won-based trading
    market in the future,” Yoon added.

    Navigating Regulatory Landscape for Korean Market Entry

    Patrick Yoon, General Manager of Crypto.com, Korea, Source: LinkedIn

    One such regulatory requirement in Korea mandates
    cryptocurrency exchanges to establish partnerships with commercial banks to
    verify the real-name accounts of their customers. Yoon revealed ongoing
    discussions with local banks to secure potential partnerships for real-name
    account authentication.

    Presently, there are five won-based cryptocurrency exchanges
    authorized by Korean financial authorities, including UpBit, Bithumb, Coinone,
    Korbit, and GOPAX. By entering the Korean market, Crypto.com aims to provide
    users with an alternative trading platform while fostering healthy competition
    and innovation in the local cryptocurrency ecosystem.



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  • Crypto derivatives exchange Deribit launching zero-fee spot trading

    Crypto derivatives exchange Deribit launching zero-fee spot trading

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    Deribit, a popular cryptocurrency derivatives platform, has announced the launch of zero-fee spot trading, allowing clients to buy and sell crypto while simultaneously managing risk using other derivatives.

    Spot trading will start on April, 24th 2023 at 1 PM UTC with three pairs (BTC/USDC, ETH/USDC, and ETH/BTC), providing clients with a simple and free solution for exchanging collateral and eliminating the need for external asset conversion. Clients will enjoy a zero-fee structure for trading these pairs.

    Aiming to foster liquid markets, Deribit will offer 0% fees for makers and takers on spot. Note, due to this structure, there will not be any volume discounts, or affiliate/partner sharing offered on this model.

    “Our goal has always been to provide our users with a complete exchange platform that meets all their trading needs. After years of being the leading crypto derivatives trading platform and ensuring that our exchange has the highest level of security and transparency, we have decided to apply our expertise to spot trading. By adding spot trading to our existing futures and options products, we are now able to provide a fulsome exchange offering that caters to all types of traders.”
    – Luuk Strijers, COO at Deribit

    Currently, Deribit offers options, inverse & linear perpetuals, and futures (incl volatility futures) for three bases currencies (Bitcoin and Ethereum, and USDC), which allows investors to efficiently manage risk and hedge their investments. With the addition of spot trading, Deribit now serves a wider range of traders who seek to swap directly between assets with immediate delivery and ownership.

    The introduction of free spot trading capabilities comes shortly after Deribit’s launch of BTC DVOL futures, a contract built on DVOL (the Deribit Bitcoin Volatility Index) that facilitates bitcoin volatility trading. Deribit has also experienced a continued increase in investor activity, seeing open interest on the platform hit an all-time high of over $20 billion on March 30th, 2023.

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  • Play to Earn Game Edensol Integrates Secretum Messaging and Trading dApp

    Play to Earn Game Edensol Integrates Secretum Messaging and Trading dApp

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    With the appearance of Metaverse, GameFi projects’ popularity is increasingly growing in the blockchain space whereas Web 2.0 traditional tools seem to be obsolete and not adapted to the Web 3.0 conceptual step up. This instrumental gap is filled by a unique partnership between Secretum and Edensol. Security, transparency, decentralization and immediacy as fundamental values of Web 3.0 meet safety and stability, menaced in other gameFi projects using traditional messengers.

    What is Edensol?

    Edensol is a revolutionary gaming Metaverse that combines fantasy action with the use of groundbreaking NFTs on the Solana blockchain. It’s play-to-earn gaming, easy to understand, exciting, and fast-paced. The main characters of the game are heroes, warriors, rangers, mages and pets. The value of an NFT character depends on its level of personalization (special cosmetic characteristics, number of types of pets owned etc.), as well as the frequency and success of the battles.

    To sell and purchase NFTs players can use NSOL tokens and go trade on the Edensol marketplace. Edensol includes various types of NFTs, among which are heroes, whose value depends on its level of personalization and strength, gear (swords, axes, traps, fireballs, magic spells and battle outfits), eggs and pets.

    The prices of these NFTs vary depending on the value of their superpowers, their looks, their not-yet-unlocked potential, and the rarity of their species. Some ultra-rare gear NFT items with completely unique artistic features and effects will be also tradable on secondary marketplaces in the future.

    Significant advantages of financial gaming with NFTs in Edensol

    A fusion of virtual gaming with NFTs is a confluence of crypto, gaming and money. Gamification of financial systems is disrupting the traditional gaming industry as we know it. It is the next step for the cryptomarket and it has various strengths and advantages. The total value of NFTs rocketing to a new record high of $43 billion in October 2021.

    • In contrast to traditional gaming, where users play to win, Edensol adopts a play-to-earn model and permits the revenue capacity of NFT, which is proven to be significant.
    • Edensol takes advantage of the popularity of video games, combined with unique features of cryptocurrencies
    • Edensol provides verifiable and constant ownership for the players. All data is stored on the decentralized public Solana blockchain, which keeps track of what everyone owns. This means that players, not the game developers, own all of the in-game assets, even if a server is turned off or the gaming company suffers technical downtime. Edensol allows players to maintain ownership of all their in-game items and currency, thanks to tokenization.
    • The game becomes reality. Due to blockchain technology, Edensol adds real-world value to in-game purchases. Interior tokens and items can be traded for cryptocurrencies and, ultimately, actual cash. When a user creates an in-game account, Edensol automatically creates and links a crypto wallet to that account, which is used to store NFTs, in addition to NSOL and any other cryptocurrency. At any time, players can transfer all their in-game NFTs to their crypto wallets, and then sell them on decentralized marketplaces

    These aspects make crypto gaming with Edensol a source of real income for players. It could be a passive income or even a full-time one.

    Although blockchain-based crypto gaming is still vulnerable to attacks. Players can lose all of their assets in a hacking incident. For example, a Discord server by NFT marketplace Fractal got hacked, swindling members over $150,000 in crypto assets. And here comes Secretum as a perfect game-changer for crypto trading.

    What is Secretum?

    Secretum is unique, fully decentralized, end-to-end encrypted and secure trading on the Solana Blockchain. The major innovation of Secretum is enabling the trading of all crypto assets (fungible and NFTs) directly between users, via a hybrid messaging and trading function.

    Secretum possesses a completely anonymous and secure sign-up process with only a user’s crypto wallet address. It is DeFi, metaverse compatible, OTC, P2P trading dApp with access to smart public channels. All data is safely stored on the independent and verified nodes in the Secretum network, with no central point of failure.

    Secretum is just like Edensol based on the Solana blockchain. So it is fast and cheap, with low fees and instant trades due to Solana’s capability of 50,000 transactions per second and an average cost per transaction of only $0.00025.

    As gameFi projects and Edensol, in particular, are sensitive to cyber-attacks Secretum is a perfect detail to solve this problem and ensure the safety of users and their assets from scammers. Secretum provides a safe connection in the web 3.0 world and keeps players’ possessions secure and private.

    Edensol + Secretum: complementary partnership

    Thus, Edensol will use Secretum dApp to ensure safe and end-to-end communications for users, whereas Edensol will be a perfect addition to the Secretum community as a fantasy metaverse and an actual play-to-earn income possibility, combining fun-packed action with P2E features and the use of collectible NFTs on the Solana blockchain. Edensol community members will benefit from OTC, P2P trading functionality in the Secretum dApp. They will be able to trade their $NSOL tokens and NFT gaming assets without intermediaries.

    This highly qualitative partnership allows gamers to avoid scammers. All thanks to verification of $NSOL tokens possession, safety and security of Secretum, a brand new Web 3.0 era messenger and trading solution. Being a solution to most of the insecurity problems of DEXs, Secretum perfectly complements the Solana metaverse and Edensol gameFi project.

     

     

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  • NFTs Rentals May Be the Future of Online Trading

    NFTs Rentals May Be the Future of Online Trading

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    We are witnessing the birth of a digital era. Central Bank Digital Currencies (CBDC) are being developed and tested in preparation for mass adoption by global institutions.

    Stablecoins, particularly Tether (USDT) trading volumes are surging at the time of this writing. While it may be attributed to the war between Russia and Ukraine, stablecoins’ usage may only rise over time.

    usdt transactions

    source: messari

    In this article I would like to bring to discuss the concept of integrating smart contracts into traditional trading platforms that may be seen in the near future.

    The concept is particularly for retail trading but parts may be is used at an institutional level. The demand for both cryptocurrencies and non-fungible tokens (NFTs) is expected to increase 2022. The concept focuses on integrating NFTs into the trading software in exchange for trading benefits.

    Aside art NFT, non-fungible tokens have many possible forms of usage. NFTs can replace the traditional ticketing system, the way we vote, coupons and more.

    Both forex brokers and crypto exchanges offer traders lower transaction fees based on the monthly trading volumes. This applies to spot trading and futures including perpetual futures.

    What if we can enhance the commission structure, increase customer satisfaction and revenue via NFTs?

    Integrating Smart Contracts

    The standard form of NFTs marketplaces is buying and selling non-fungible tokens. OpenSea, Nifty Gateway and SuperRare all abide by the basic form of buying and selling.

    However, NFT owners may also lend their NFTs, ‘NFT renting.’ Non-fungible tokens may be borrowed for a predetermined period of time before returning to the owner.

    It is more predominant in companies that specialize in real estate NFTs in the metaverse, lending their virtual properties to other users. My concept evolves around bringing the NFT lending protocols into crypto and forex trading.

    Before elaborating on the benefits of these protocols I would like to clarify how NFTs are borrowed via smart contracts. I am focusing on lending NFTs without a collateral.

    The terms of the rental is embed in a smart contract such as the rental duration. If the renter agrees to the rental duration and the rental price, a wrapped version of the NFT is minted and sent to the borrower. The original NFT remains at the custody of the lender.

    The wrapped NFT has an expiration, which was determined prior to renting the NFT. Once the wrapped NFT expires, the wrapped NFT is sent back to the contract, thus burning the wrapped NFT.

    These protocols already exist and are being further developed, known as ‘IQ Protocol.’

    IQ Protocol

    IQ Protocol yellow sheet

    Renting NFTs

    Crypto exchanges and forex brokers may benefit from these protocols. I will take trading conditions as an example. The broker may offer its clients with better spreads via dedicated NFTs. For example, it may range from as short as 15 minutes to 24 hours.

    If the trader agrees to pay the fee to receive lower spreads, a wrapped NFT is minted and allocated to the trader’s dedicated account in the trading platform. Upon depositing the wrapped NFT, the trading platform recognizes the lower-spreads wrapped NFT and automatically reduces the spreads as long as the wrapped NFT is present.

    Once the wrapped NFT expires, it is sent back to the contact (which causes it to burn). Upon the removal of the wrapped NFT form the trading platform the lower-spreads privilege ends automatically.

    The tokens for the renting the NFT may be pegged to the US Dollar (stablecoin) to avoid exposure to the market volatility. IQ Protocol blockchain may be used to support the fully automated renting process.

    While the broker or the exchange’s commissions may be temporarily reduced, it may be compensated via a large amount of traders that are interested in lower spreads for a certain period of time.

    Aside trading conditions, the financial company may award its traders with other incentives. Faster withdrawals and subscriptions to various services offered by the broker may be offered via the smart contracts.

    This is a future concept of smart contracts integration to trading platforms as we know them today. A dedicated platform must be developed to allow such functionality.

    Welcome to the digital era.

    We are witnessing the birth of a digital era. Central Bank Digital Currencies (CBDC) are being developed and tested in preparation for mass adoption by global institutions.

    Stablecoins, particularly Tether (USDT) trading volumes are surging at the time of this writing. While it may be attributed to the war between Russia and Ukraine, stablecoins’ usage may only rise over time.

    usdt transactions

    source: messari

    In this article I would like to bring to discuss the concept of integrating smart contracts into traditional trading platforms that may be seen in the near future.

    The concept is particularly for retail trading but parts may be is used at an institutional level. The demand for both cryptocurrencies and non-fungible tokens (NFTs) is expected to increase 2022. The concept focuses on integrating NFTs into the trading software in exchange for trading benefits.

    Aside art NFT, non-fungible tokens have many possible forms of usage. NFTs can replace the traditional ticketing system, the way we vote, coupons and more.

    Both forex brokers and crypto exchanges offer traders lower transaction fees based on the monthly trading volumes. This applies to spot trading and futures including perpetual futures.

    What if we can enhance the commission structure, increase customer satisfaction and revenue via NFTs?

    Integrating Smart Contracts

    The standard form of NFTs marketplaces is buying and selling non-fungible tokens. OpenSea, Nifty Gateway and SuperRare all abide by the basic form of buying and selling.

    However, NFT owners may also lend their NFTs, ‘NFT renting.’ Non-fungible tokens may be borrowed for a predetermined period of time before returning to the owner.

    It is more predominant in companies that specialize in real estate NFTs in the metaverse, lending their virtual properties to other users. My concept evolves around bringing the NFT lending protocols into crypto and forex trading.

    Before elaborating on the benefits of these protocols I would like to clarify how NFTs are borrowed via smart contracts. I am focusing on lending NFTs without a collateral.

    The terms of the rental is embed in a smart contract such as the rental duration. If the renter agrees to the rental duration and the rental price, a wrapped version of the NFT is minted and sent to the borrower. The original NFT remains at the custody of the lender.

    The wrapped NFT has an expiration, which was determined prior to renting the NFT. Once the wrapped NFT expires, the wrapped NFT is sent back to the contract, thus burning the wrapped NFT.

    These protocols already exist and are being further developed, known as ‘IQ Protocol.’

    IQ Protocol

    IQ Protocol yellow sheet

    Renting NFTs

    Crypto exchanges and forex brokers may benefit from these protocols. I will take trading conditions as an example. The broker may offer its clients with better spreads via dedicated NFTs. For example, it may range from as short as 15 minutes to 24 hours.

    If the trader agrees to pay the fee to receive lower spreads, a wrapped NFT is minted and allocated to the trader’s dedicated account in the trading platform. Upon depositing the wrapped NFT, the trading platform recognizes the lower-spreads wrapped NFT and automatically reduces the spreads as long as the wrapped NFT is present.

    Once the wrapped NFT expires, it is sent back to the contact (which causes it to burn). Upon the removal of the wrapped NFT form the trading platform the lower-spreads privilege ends automatically.

    The tokens for the renting the NFT may be pegged to the US Dollar (stablecoin) to avoid exposure to the market volatility. IQ Protocol blockchain may be used to support the fully automated renting process.

    While the broker or the exchange’s commissions may be temporarily reduced, it may be compensated via a large amount of traders that are interested in lower spreads for a certain period of time.

    Aside trading conditions, the financial company may award its traders with other incentives. Faster withdrawals and subscriptions to various services offered by the broker may be offered via the smart contracts.

    This is a future concept of smart contracts integration to trading platforms as we know them today. A dedicated platform must be developed to allow such functionality.

    Welcome to the digital era.

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  • Vital Trading Levels To Follow

    Vital Trading Levels To Follow

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    The broader crypto market jolted hard owing to the tension between Russia and Ukraine. Uniswap broke below its crucial support level and was priced at $8.32. Bitcoin slid off its charts at press time, after noting a 9% depreciation. The crypto market had barely recovered from the December crash.

    With the Russia and Ukraine tension intensifying most altcoins have again lost much of their strength. Uniswap for instance at the current price level flashed a yearly low too.

    Uniswap had registered an all-time high of $45 in the month of May, last year post which the coin continued to dip on its charts. The coin breached its long holding support level of $12.65 and broke below a series of resistance lines.

    Related Article | Bloomberg Strategist: This Is The Defining Moment To Buy Bitcoin

    Uniswap Price Analysis: Four-Hour Chart

    Image Source: UNI/USD TradingView

    Uniswap was priced at $8.32 and was closing near its immediate support level of $7.87. In the last 24 hours, UNI lost 7% of its value and over the last week, the coin had shed almost 24% of its value. The coin had tried to consolidate near its $12.65 support line, post which UNI continued to move in a downtrend.

    After the coin breached the aforementioned support line, UNI had tried to hold itself above the price floor of $8.36, however, the coin broke below the $8.36 price mark. Uniswap had also tried to bounce back from the $8.36 and touch the $9.26 price mark.

    If the coin continues to trade beneath the $10.01 price floor, which UNI had retested a couple of times then there could be chances that UNI would dip below the support level of $7.87.

    The coin has remained under brought for almost one week now, forcing the coin to touch a yearly low. The last time UNI traded at this price mark it was in the month of January 2021. A fall from the $7.87 would push UNI to trade between the $6 and $5.88 price levels.

    Rationale

    The technical outlook of Uniswap was quite bearish at the time of writing, over the past week UNI had displayed a consistent bearish outlook. Ever since UNI started dipping down from the $10.01 support line, buyers started to exit the market.

    Related Reading | Russia Can Avoid Sanctions By Using A Wide Range Of Cryptocurrency Tools

    The aforementioned situation had pushed the UNI to the oversold area. The Relative Strength Index was parked underneath the half-line, which indicated that buying strength was absent in the market and selling pressure dominated the coin. Although RSI had noted a slight uptick, at press time the indicator again started to side with the bears.

    UNI was trading beneath the 20-SMA line, which is indicative of a bearish outlook. The sellers in the market were responsible for driving the price momentum of the market.

    MACD underwent a bearish crossover and the coin started to depict red histograms at the time of writing. This reading meant that the market trend continued to act in accordance with the bears in the market.

     

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  • BaFin Warns Investors of Crypto Trading Advices on Social Media

    BaFin Warns Investors of Crypto Trading Advices on Social Media

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    The Federal Financial Supervisory Authority in Germany (BaFin) issued a warning on crypto trading advice on social media. Although there was no direct reference to social media channels, Telegram is one of these sources.

    BaFin did provide its principals for any investor that wishes to use social media for investment tips.

    BaFin’s Advice on Social Media Tips

    The number of followers, likes or positive feedback are not valid indicators. They do not reflect the performance of the investment tips. It is very easy to manipulate results in social media. Positive feedback or references related to investment success stories can be fictionized and produced at the author’s request.

    Investment tips are often marketed aggressively on social media. The goal is to make investors have ‘fear of missing out’ (FOMO) and push them into making poor decisions. Always check the investment advice to ensure the risks and opportunities are fully understood.

    Investment advice on social networks is mostly free. This means that the author is compensated through other sources. Most of the time they earn a commission from the broker that its products are advertised on social media. For regular users, it is difficult to detect. Bear in mind that with such commission models there can be an ulterior motive for the individual providing the advice.

    There is no ‘fast money’ that is ‘100% safe.’ If you are promised high profits rest assured that the risk is extremely high. The financial products that may offer such returns are highly speculative on most occasions. This can result in significant loss including losing the entirety of invested capital.

    Caution is advised if only success stories are highlighted without the risk involved.

    ‘Pump and Dump’

    There are dedicated Telegram groups that ‘pump and dump’
     
     cryptocurrencies      . These groups coordinate their trades, targeting low-volume cryptocurrencies. When the price jumps higher, investors that are unaware of the scheme buy the cryptocurrency. The groups’ members then sell their cryptos for a hefty profit.

    The Australian Securities and Investments Commission (
     
     ASIC      ) has been cracking down on these groups.

    The Federal Financial Supervisory Authority in Germany (BaFin) issued a warning on crypto trading advice on social media. Although there was no direct reference to social media channels, Telegram is one of these sources.

    BaFin did provide its principals for any investor that wishes to use social media for investment tips.

    BaFin’s Advice on Social Media Tips

    The number of followers, likes or positive feedback are not valid indicators. They do not reflect the performance of the investment tips. It is very easy to manipulate results in social media. Positive feedback or references related to investment success stories can be fictionized and produced at the author’s request.

    Investment tips are often marketed aggressively on social media. The goal is to make investors have ‘fear of missing out’ (FOMO) and push them into making poor decisions. Always check the investment advice to ensure the risks and opportunities are fully understood.

    Investment advice on social networks is mostly free. This means that the author is compensated through other sources. Most of the time they earn a commission from the broker that its products are advertised on social media. For regular users, it is difficult to detect. Bear in mind that with such commission models there can be an ulterior motive for the individual providing the advice.

    There is no ‘fast money’ that is ‘100% safe.’ If you are promised high profits rest assured that the risk is extremely high. The financial products that may offer such returns are highly speculative on most occasions. This can result in significant loss including losing the entirety of invested capital.

    Caution is advised if only success stories are highlighted without the risk involved.

    ‘Pump and Dump’

    There are dedicated Telegram groups that ‘pump and dump’
     
     cryptocurrencies      . These groups coordinate their trades, targeting low-volume cryptocurrencies. When the price jumps higher, investors that are unaware of the scheme buy the cryptocurrency. The groups’ members then sell their cryptos for a hefty profit.

    The Australian Securities and Investments Commission (
     
     ASIC      ) has been cracking down on these groups.

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  • Coinbase Prime and Enfusion team up to bring seamless crypto trading to institutional investors

    Coinbase Prime and Enfusion team up to bring seamless crypto trading to institutional investors

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    By Brett Tejpaul, Head of Institutional Sales, Trading and Prime

    Our goal is to be the trusted bridge to the cryptoeconomy for all institutions, to fuel widespread adoption of crypto, and ultimately to increase global economic freedom. Coinbase Prime, an integrated solution that provides secure custody, an advanced trading platform, prime services and market data, has become a first choice for sophisticated investors and institutions that want to start investing in digital assets.

    Coinbase Prime and Enfusion are connecting to offer cryptocurrency trading to financial institutions and investment managers. By providing straight-through processing to Coinbase Prime via APIs Enfusion is providing its clients institutional access to digital asset custody and algorithmic trading, with the potential to further our relationship in the future.

    “Enfusion’s connectivity with Coinbase Prime will allow us to seamlessly manage our crypto positions alongside other assets from a single interface, streamlining our trading operations. We’re very excited to see two platforms we rely on every day team up to continue improving how institutions access the crypto markets,’ said Eric Peters, CEO and CIO of One River, a leading asset management firm.

    We’re excited to connect to our first OEMS Enfusion, as their native multi-asset management system is a natural first choice to collaborate with on a joint institutional offering. We expect financial institutions to continue to increase their portfolio exposure to crypto, and we’re committed to offering the best tools to enable them to manage it efficiently.

    The integrations between both platforms are expected to be completed in Q2 2022. To learn more about Coinbase Prime click here.

    Coinbase Prime and Enfusion team up to bring seamless crypto trading to institutional investors 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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