Hxro and FTX team up to launch TixWix for gamified crypto trading
Hxro, a gamified crypto trading platform, today announced it has partnered with cryptocurrency derivatives exchange FTX to launch TixWix, the first trading product that allows users to play live odds on the crypto market. The simplified and engaging format of TixWix is designed to open up crypto trading to a larger global audience through a powerful new user experience.
“FTX’s motto is “by traders, for traders,” said Sam Bankman-Fried, CEO and Founder of FTX. “Part of that means constantly finding new ways to make trading more fun and interactive, and giving users better ways to express their market beliefs.”
Dan Gunsberg, CEO and Co-Founder of Hxro added, “Traders need simple, fast, and intuitive ways to interact with crypto markets. They also demand deep liquidity, fairness, and trust. All of these elements are essential to capturing real mass adoption beyond the current crypto user base. TixWix encapsulates all of this with an added element of user experience not yet seen by the market.”
TixWix markets reduce the complexities of crypto options by letting traders take positions based on live market odds. For example, global markets are pricing in a 33% chance that Bitcoin will finish the year above $15,000 following its recent rally. If a trader believes BTC will close above $15,000 by year-end, they can now take a BTC TIX position that will pay out 3x odds if correct. Traders are also able to take positions that payout if the contract fails to close above the target price. Positions may be taken on whether or not the market closes (TIX) or touches (WIX) above or below the target price and all positions can be actively traded prior to the expiration date. Trades can be made for as little as $1.00 through a simple and intuitive UI, creating a low barrier to entry for the global retail trading market.
TixWix is jointly developed by Hxro and FTX. It will combine the front-end experiential and user-focused product of Hxro with FTX liquidity and backend technology that securely processes over a billion dollars of trading volume per day. The product will be available to users in Asia-Pacific, EMEA, Oceania, and LatAm regions.
“Investors and traders face tough decisions in the market every day,” said Rob Levy, President, and Co-Founder of Hxro. “The most successful traders build algorithms to best estimate the probabilities of where prices will be in the future, so they can buy and sell with greater profitability. That future could be less than one second away or one year away.”
He added, “The odds of Bitcoin closing the year above $15,000, or trading below $10,000 by Christmas, are based on the real-time prices in the Bitcoin spot markets, futures markets, and options markets across the globe. The markets are always moving and probabilities are constantly changing. Now, with TixWix contracts, users outside of the U.S. can analyze – and actually play – the live market odds to express their views on crypto prices in a powerful new format.”
Source: www.cryptoninjas.net
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IDEX 2.0-FAILED COMMITMENT OF A DECENTRALISED EXCHANGE PLATFORM? – Cryptocurrency News
- IDEX corporation announced a new update Idex 2.0 of October 20, 2020, having the capability of processing thousands of transactions
- As the Idex 2.0 was striving for perfection in the update, they lost track of the idealism with which Idex entered the market
- Idex in the new update delisted projects like Cajutel, GHOST, ADX Network, Silent Notary, Merculet, CarVertical
IDEX is one of the leading crypto exchanges which aims to provide a real-time and high-performance trading experience in conjunction with blockchain-based settlement. The decentralized exchange was launched in October 2016 and provides real-time trading as a first Ethereum based decentralized smart contract exchange. The exchange built a smart contract that allowed users to submit signed trades on Ethereum enabling the control of orders in which transactions are processed and separated the act of trading from the final settlement.
However, the exchange didn’t pull up enough trading volume and had a 24-hour volume traded of $1.7 million on 17th July 2019 which is particularly not astonishing. In fact, in the last updated review which was held around March 2020 (right in the middle of the pandemic), the volume traded fell down to $316,725(ACCORDING TO coinmarketcap). Therefore, if the investors were looking for liquidity, this exchange was certainly not the right place as the design was not compatible with the software. The overview of the trading portal of the exchange was described as very nominal by the users.
Two months back, IDEX secured a funding of $2.5 million as a seed investment which was led by G1 Ventures and Borderless Capital which included Collider Ventures, and Gnosis for the main purpose of a high-performance DEX, IDEX 2.0. The update was set and planned to provide a unique combination of performance adhering to the industry standards which should enable the market makers to support IDEX 2.0 out of the box with their existing systems.
In the start of2019, IDEX launched a new version of its staking network in the crypto market which allowed its stakes to lock their tokens in a dedicated address and run the IDEXD staking program. This would help in operating the infrastructure of the exchange and in return stakers earned 25% of the trade fees from IDEX in the form of ETH. The first iteration was considered a huge success for the exchange and it got a circulating supply of 52% of the total IDEX tokens. With the introduction to IDEX 2.0, stakers are given new roles of securing the layer-2 network and providing API services for which they will be compensated with 50% of the IDEX trade fees.
The wait for the update which was planned by the exchange for more than a year ago was finally over. The update was given strong claims of providing a high-performance trading engine that is capable of processing hundreds of thousands of orders per second. A brand new interface for its users with advanced trading options and fully-featured mobile support is available in the current update. New API support allowed different types of advanced orders including stop loss, post only, fill or kill, and much more. The usage of layer-2 design said to be an innovative idea in the update.
While the exchange board was making strong commitments in the market, during the launch date, a migration tool was set up in the update for the purpose of assisting the token migration process. It helped in the withdrawal of every token which a user-owned in IDEX 1.0 and transferred it to IDEX 2.0. However, the transfer process looked out to be slow and required numerous fixes.
The whole idea of instant trade execution and no gas fees charged in reality is a conceptualization of a centralized exchange. WhileIDEX entered into the market as a decentralized exchange claiming to provide a real-time high-performance platform for its users forEthereum based smart contracts. Though with the launch of IDEX2.0, the exchange has adopted the concept and features of a centralized exchange. It’s because the main USP of the update can clearly be categorized in the features of a centralized exchange. No matter how much we value a decentralized exchange, when it comes to high liquidity and the vast majority of trading volume, a centralized exchange has a certain edge in providing these features in the global market.
As the exchange was striving for perfection in the update, they lost track of the idealism with which IDEX entered the market. For adapting the perks of a centralized exchange, the exchange even delisted some very valuable projects from the platform which had ample growth opportunities in the future. Delisting of projects led to heavy losses that were incurred in their respective price segments.
The list of projects which were delisted includes names like Cajutel, GHOST, ADX Network, Silent Notary, Merculet, CarVertical, etc. Cajutel is a Guinea-Bissau based company Cajutel Sari owned project and comes under Swiss ownership. Capital Project aimed to provide100% solar-powered high-speed internet in the untapped zones of West Africa. Another project named AdEx Network aimed to provide a solution for some of the most prominent inefficiencies of the online advertising industry which include user privacy misuse, ad fraud, and lack of transparency in reporting. It originated as a decentralized ad exchange and subsequently evolved into a protocol for decentralized digital advertising proving its growth potential in the market.
Taking a look at the damage to the price levels of these projects due to delisting, ADX Network suffered approximately a loss of -16.14% on 16th October 2020 when the exchange publicly delisted the project on its official Twitter handle. The price of the project dropped from $ 0.192609 to $ 0.177006. Cajutel was another crypto asset that suffered heavily in terms of pricing. The price of the digital asset was trading well above $1.00 which after the news of delisting dropped to $0.23 losing its bullish levels completely. The crypto asset hasn’t been able to cross above $1.00 since then. It can be concluded that these projects were relying heavily on IDEX as a major source of volume. By delisting these projects, IDEX not only harmed the price segments of these projects but also invaded the fair play and harmony of the crypto market.
The example of IDEX 2.0 of changing into a centralized exchange is nothing new in the market. Many other crypto exchanges had also followed in the same footsteps. The main purpose of doing this is to attract a vast majority of trading volume and high liquidity from the market and in return users get fast transaction speeds. Users are completely blindfolded by the trap of high-speed transactions and don’t realize that a centralized exchange holds the custody of the user’s private keys. It means not even having full control over owed money. The security of assets under centralized exchange is also vulnerable as they are a prime target for bad actors. Manipulation, insider trading, fake volume, and price manipulation are other negative aspects that users overlook being blindsided by the greed of high-speed transactions. It was expected that IDEX’s update will provide new aspects and features to the users within the boundaries of a decentralized exchange. But conversion to a centralized exchange has certainly disappointed and raised many questions on the functioning and integrity of the exchange.
Source: themarketperiodical.com
Author: Vasu Singhal
Eminer Price Reaches $0.0036 on Exchanges (EM)
Eminer (CURRENCY:EM) traded down 2.5% against the US dollar during the 24 hour period ending at 16:00 PM Eastern on October 28th. During the last seven days, Eminer has traded down 0.9% against the US dollar. One Eminer token can now be purchased for about $0.0036 or 0.00000027 BTC on popular cryptocurrency exchanges including OKEx and Biki. Eminer has a total market cap of $4.88 million and $2.55 million worth of Eminer was traded on exchanges in the last day.
Here’s how related cryptocurrencies have performed during the last day:
About Eminer
Eminer Token Trading
Eminer can be purchased on these cryptocurrency exchanges: Biki and OKEx. It is usually not possible to buy alternative cryptocurrencies such as Eminer directly using US dollars. Investors seeking to acquire Eminer should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as GDAX, Changelly or Coinbase. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Eminer using one of the exchanges listed above.
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Source: mitchellmessenger.com
Author: Chuck Agarwal
Peru is studying crypto exchanges to figure out future laws
A Peruvian regulator authority said on October 26 that studies currently performed on local crypto exchanges will keep on going despite the COVID-19 pandemic, as the country is looking to find ways to regulate the national crypto industry.
According to local news outlet Gestion, Superintendent of the Financial Intelligence Unit of Peru (UIF) Sergio Espinosa pointed out the need to work out the policy behind cryptocurrencies in the country. Espinosa called it a “priority”:
“One of the topics that we have not stopped is a diagnosis — which is being done — of the presence and scope in Peru of so-called virtual assets, including Bitcoin and other virtual assets that are not currencies, but that exist, trade and circulate, so there is a need to put out regulation on the matter.”
During his participation in the IV International Congress on Compliance and the Fight Against Corruption organized by the Word Compliance Association and the Lima Chamber of Commerce, Espinosa remarked on Peru’s lack of knowledge of the crypto sector, calling it uncharted territory.
Espinosa further said that studies into local crypto exchanges began in August as part of the UIF activities to collect enough information to figure out future laws for the crypto sphere in Peru.
Although the supervisor didn’t provide more details as to which exchanges were on the financial watchdog’s radar, he commented that additional studies were added during September and most of research will last between 19 and 22 business days “from the preparation of the notification documents to the issuance of the final report on the results of the same.”
Peruvian authorities have not established a clear position on cryptocurrencies, although the COVID-19 pandemic, as in many other countries, has fueled the development of blockchain technology in the nation.
A recent glimpse into Peruvian crypto regulation came from the Congress of the Republic of Peru, who promulgated a law on October 22 that establishes an electronic means of payment as a public necessity.
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Source: crytonow.com
Author: adminhttps://crytonow.com
Rate3 (RTE) Price Hits $0.0004 on Exchanges
Rate3 (CURRENCY:RTE) traded 5.8% lower against the U.S. dollar during the 24 hour period ending at 10:00 AM Eastern on October 28th. Over the last seven days, Rate3 has traded down 6.4% against the U.S. dollar. One Rate3 token can now be purchased for about $0.0004 or 0.00000003 BTC on major cryptocurrency exchanges including ABCC, Coinrail, Bibox and BitForex. Rate3 has a market cap of $389,581.96 and $161,464.00 worth of Rate3 was traded on exchanges in the last 24 hours.
Here is how other cryptocurrencies have performed over the last 24 hours:
Rate3 Profile
Rate3 (RTE) is a token. Its genesis date was April 9th, 2018. Rate3’s total supply is 1,000,000,000 tokens and its circulating supply is 889,382,388 tokens. Rate3’s official Twitter account is @officialrate3 and its Facebook page is accessible here. The official message board for Rate3 is medium.com/official-rate3. Rate3’s official website is www.rate3.network. The Reddit community for Rate3 is /r/Rate3 and the currency’s Github account can be viewed here.
Buying and Selling Rate3
Rate3 can be traded on these cryptocurrency exchanges: ABCC, FCoin, Ethfinex, DDEX, HADAX, BitForex, Coinrail, IDEX, DEx.top, Bibox and Hotbit. It is usually not currently possible to purchase alternative cryptocurrencies such as Rate3 directly using US dollars. Investors seeking to trade Rate3 should first purchase Bitcoin or Ethereum using an exchange that deals in US dollars such as Gemini, Coinbase or Changelly. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Rate3 using one of the aforementioned exchanges.
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Source: www.thestockobserver.com
Author: Francis Steltz
Eterbase Coin Price Reaches $0.0031 on Exchanges (XBASE)
Eterbase Coin (CURRENCY:XBASE) traded down 6.4% against the U.S. dollar during the 1 day period ending at 13:00 PM Eastern on October 28th. One Eterbase Coin token can now be bought for approximately $0.0031 or 0.00000026 BTC on popular cryptocurrency exchanges including DDEX, IDEX, LATOKEN and Coinlim. During the last week, Eterbase Coin has traded down 4.9% against the U.S. dollar. Eterbase Coin has a total market cap of $3.10 million and approximately $44,732.00 worth of Eterbase Coin was traded on exchanges in the last 24 hours.
Here’s how related cryptocurrencies have performed during the last 24 hours:
About Eterbase Coin
Eterbase Coin (XBASE) is a token. Its genesis date was May 9th, 2018. Eterbase Coin’s total supply is 1,000,000,000 tokens and its circulating supply is 990,000,000 tokens. Eterbase Coin’s official Twitter account is @ETERBASE. Eterbase Coin’s official message board is medium.com/@ETERBASE. The official website for Eterbase Coin is www.eterbase.com.
Eterbase Coin Token Trading
Eterbase Coin can be purchased on the following cryptocurrency exchanges: IDEX, LATOKEN, CoinTiger, DDEX, Mercatox, Coinlim, P2PB2B and Escodex. It is usually not presently possible to buy alternative cryptocurrencies such as Eterbase Coin directly using U.S. dollars. Investors seeking to trade Eterbase Coin should first buy Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as GDAX, Gemini or Changelly. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Eterbase Coin using one of the aforementioned exchanges.
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Source: theolympiareport.com
Author: Donna Brown
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