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  • Bitcoin Falls Bellow $60K as Crypto Market Cap Shrinks by 10% – What’s Behind the Selloff?

    Bitcoin Falls Bellow $60K as Crypto Market Cap Shrinks by 10% – What’s Behind the Selloff?

    financial crisis bitcoin

    Key takeaways:

    • The strengthening of the US Dollar, which has just experienced a 16-month peak, has an inverse relationship with the price of BTC
    • Twitter’s CFO stance that the company is not interested in adding crypto assets to its balance sheet might have been the main catalyst for the market selloff
    • Rising electricity costs could wreak havoc on the remaining China-based crypto miners 

    After trading in a relatively tight range for the past week, Bitcoin (BTC) has been experiencing heavy selling pressure over the course of the last 24 hours. Other digital assets followed suit. Ethereum (ETH) dropped to a two-week low as did Cardano (ADA) and Polkadot (DOT), while 98 out of the top 100 cryptocurrencies are being traded in the red zone at the time of this writing.

    What led to the massive selloff?

    It is hard to pinpoint a single reason for the bearish momentum in a complex system of interconnected parts which the cryptocurrency market certainly is. However, there are some indications that point to three key drivers behind the sudden downward trading trend.

    Speaking to the Wall Street Journal earlier today, Twitter chief financial officer (CFO) Ned Segal told the news outlet that adding crypto assets such as Bitcoin to the company’s balance sheet “doesn’t make sense right now.” Although Segal clarified his position by adding that Twitter simply isn’t in a position to take on the short-term volatility of crypto, the market responded to the news very negatively.

    Another piece of news that could potentially harm the prospects of crypto assets’ profitability in the long term and could have led to investors taking some of the money off the table, is the rising electricity costs for China’s remaining crypto miners. As reported by Bloomberg, the country’s National Development and Reform Commission is contemplating imposing “punitive electricity prices,” which could be the final nail in the coffin of China’s crypto mining sector after the country issued a blanket ban on crypto in September. 

    On Tuesday, the US Dollar Index has reached the highest level in the last 16 months. Image source: TradingView

    The recent virtual summit between China’s President Xi and the United States President Biden could have also played an indirect role in the ongoing selloff. The meeting between the leaders of the two superpowers has reportedly gone well, which has pulled the value of the US Dollar to a 16-month high. 

    The strength of USD in comparison to six other fiat currencies, measured by the U.S. Dollar Index (DXY), has historically had an inverse correlation with the value of BTC – the stronger the USD, the weaker is Bitcoin, and vice versa. 

    Over the past day, more than $840 million worth of long and short market positions have been liquidated due to abrupt downturn market swing, according to data from Coinglass. BTC liquidations accounted for the biggest share with $270 million, followed by Ethereum with $207 million, and Solana (SOL) with $26 million. 

  • Top 3 Coins to Watch – Week 46

    Top 3 Coins to Watch – Week 46

    Last week the total capitalization of all cryptocurrencies combined exceeded $3 trillion for the first time ever. While the figure itself is remarkable, it is even more fascinating that the $2 trillion mark was crossed just seven months ago, and $1 trillion three months before that, which points to the exponential growth of the crypto markets. The rapid appreciation of many crypto assets has also attracted a large influx of new investments. Last week, leading digital currency investment firm Grayscale reported more than $60 billion in assets under management (AUM). Grayscale’s AUM now exceeds the AUM of the world’s largest spot gold ETF, which indicates that investors have recognized cryptocurrencies as a good store of value asset class and according to many modern investors, cryptocurrencies are even better than precious metals in hedging against inflation. But which coins should you keep an eye on this week, if you want the best odds to see green numbers at the end of the week? Find out 3 ideas in the following article.

    3. VeChain (VET)

    VeChain is a project that utilizes the combination of the IoT (Internet of Things) infrastructure and blockchain technology to improve the efficiency and transparency of the existing real-world asset supply chains. The main feature VeChain offers is labeling products with RFID or QR codes, which are scanned at every step of the transportation process, granting the supply chain manager higher levels of control and more insight into the whole process, which turned out as an extremely useful feature in the past few months when many companies faced a supply-chain crisis. The project development and maintenance are overseen by the Singapore-based company carrying the same name, which was founded by Sunny Lu in 2015. VeChain utilizes a Proof-of-Authority consensus algorithm, and their enterprise-focused platform relies on two tokens: the VET token is used as a carrier of value on the network, while the VeThor Token (VTHO) is used to pay for transaction fees and the execution of smart contracts.

    Buy/Sell VET

    SURFACE mainnet upgrade scheduled for November 16

    At the end of October VeChain announced they will roll out the renewed Proof of Authority consensus dubbed the PoA 2.0 in November. After successful deployment on the VeChain testnet on November 5 and a favorable result of the community VeVote, the upgraded consensus algorithm will be deployed to the mainnet on November 16 in an event called the Surface mainnet upgrade. The upgrade will be triggered at block #10653500, which is going to be proposed at 8 AM GMT. The PoA 2.0 consensus algorithm which combines characteristics of two of the most common consensus types (the Nakamoto and Byzantine Fault Tolerance (BFT) consensus mechanisms) is described in VIP193. This improvement proposal describes three major improvements: the VRF-based source of randomness, a committee-based block-producing process, and a passive block finality confirmation process. In Phase 1 of the deployment, the VRF source of randomness will be implemented. After implementation, it will be next to impossible to predict block proposers ahead in time, thereby further increasing the security of the VeChainThor blockchain. VeChain also re-assured its users that no actions are required by holders of VET or any other token on the VeChainThor blockchain because of the mainnet upgrade.

    2. TRON (TRX)

    TRON is a delegated proof-of-stake (PoS) consensus model blockchain platform that launched its mainnet in June 2018. However, TRON’s native asset TRX existed even before the mainnet launch in the form of an ERC-20 token on the Ethereum blockchain. Like Ethereum, Solana, and Polkadot, TRON blockchain is designed to host smart contracts and decentralized applications (dApps). TRON blockchain is known for its fast transactions and low transaction fees. In addition, Tron blockchain can host custom TRON-based tokens, issued by using the TRC10 and TRC20 standards. The project was founded by Chinese entrepreneur Justin Sun, and its development is headed by the Tron Foundation, which was established in 2017. Since then TRON has grown to become a major player in the blockchain sector. Its network is host to some of the leading apps in the industry and sees a huge volume of data and wealth transferred across its ecosystem each day.  

    Buy/Sell TRX

    TRON established a $1 billion ecosystem fund to incentivize developers

    Tron Foundation recently unveiled the establishment of a massive fund to support the adoption of the TRON ecosystem. Much like Algorand, Avalanche, and some other DeFi-focused chains that have also launched their development funds over the last couple of months, TRON’s fund is also designed to attract new developers to build on TRON. Nevertheless, the platform wants to attract already established projects too as the largest incentives will be provided to protocols that currently operate on other chains and decide to migrate across to TRON. With the $1,111,111,111 ecosystem fund TRON aims to further expand its already burgeoning ecosystem of various decentralized finance (DeFi), non-fungible tokens (NFTs), and stablecoin projects. TRON founder, Justin Sun hopes that the fund will help them keep the developmental momentum. He stated:

    “This fund reflects our constant efforts to innovate and stay at the bleeding edge of blockchain. As the blockchain universe expands to new horizons, cross-chain interoperability, especially in DeFi and NFTs, will play a critical role in our continued success. Accordingly, encouraging the developers who are the backbone of this decentralized movement to join us is crucial for maintaining the TRON ecosystem’s longevity and competitive edge.”

    The fund was well received by investors as VanEck’s VTRX exchange-traded note (ETN) saw a dramatic increase in demand in the days following the announcement. The note, which is fully backed by TRON’s native token TRX, added another 200,000,000 tokens on November 2 alone. The VTRX’s aggregate holdings currently float around 800 million TRX, worth over $100 million at the time of writing. In addition, TRON recently celebrated two major milestones. The number of TRON accounts surpassed 62 million and TRON became the 6th largest blockchain by total value locker (TVL) according to DefiLlama. In addition, the TRON ecosystem is lately experiencing higher weekly inflows than Cardano and Solana. 

    1. Bitcoin (BTC)

    Although we believe Bitcoin does not need much introduction and that all eyes would be on it even if it were not featured on our list, here is a short summary of the history and key characteristics of the first truly decentralized digital currency. The world’s pioneer cryptocurrency was launched by a pseudonymous figure named Satoshi Nakamoto in 2009 and has a capped supply of 21 million coins. The decreasing miner block rewards make the cryptocurrency scarcer with time, ensuring a deflationary nature. Bitcoin is also often referred to as the barometer of the cryptocurrency market as other assets usually follow BTC’s price performance.

    Buy/Sell BTC

    Bitcoin set a new ATH price by trading at $68,770 on November 10

    On Wednesday, November 10, Bitcoin price climbed and peaked at $68,770 which is the oldest crypto’s new ATH price. Bitcoin’s appreciation contributed a lion’s share to the crypto market’s total valuation exceeding the $3 trillion mark. However, soon after setting the new ATH, BTC plunged by $5,000, causing it to retest the $63,000 support level. During the fast-paced market correction, more than $500 million worth of open long positions were liquidated. However, the Bitcoin market still looks very bullish, and the recent Bitcoin Taproot soft fork can only improve the market sentiment. Following a rather rare moment of consensus among Bitcoin miners, the first bitcoin upgrade in four years was activated on November 15. The Taproot upgrade will add something known as Schnorr signatures, which essentially makes complex multi-signature transactions indistinguishable from simple one-signature transactions when viewed on the public ledger. Doing so the Taproot upgrade not only increases user privacy, but also makes smart contracts on Bitcoin smaller in terms of used blockchain space and cheaper. In addition, the Lightning Network and other complex wallets and contracts will enjoy greater efficiency and lower transaction fees, further promoting the usage of Bitcoin as a medium of exchange. Do you also think that this enhanced functionality and efficiency can pump Bitcoin up to yet another ATH price?

  • More Than 70% of Shiba Inu Holders are in the Green, Despite SHIB Dropping 40% Since its ATH

    More Than 70% of Shiba Inu Holders are in the Green, Despite SHIB Dropping 40% Since its ATH

    Key takeaways:

    • Shiba Inu is by far the biggest crypto gainer of 2021, up almost 700,000x in the last 11 months.
    • Despite the price of SHIB losing 40% from its late-October peak, a majority of SHIB holders are comfortably in the green
    • SHIB can be a good portfolio diversifier due to its low correlation with the price performance of Bitcoin

    SHIB is up 690,000x year-to-date (YTD) 

    Shiba Inu (SHIB) is by far the biggest digital currency gainer of 2021 – and it’s not a particularly close race. To put the memecoin’s impressive market performance into perspective, let’s take a look at second-placed Axie Infinity (AXS), which has managed to gain over 24,000% since January 1. SHIB is up almost 300x times as much as AXS, for a total of 69 million percent.

    Over the course of the year, the red hot digital token has grown past the confines of the cryptocurrency community and become a frequent topic of discussion for those who are otherwise not as involved in digital assets.

    The price of SHIB has been very volatile over the past month; after reaching ATH on October 28 it dropped by over 40%.

    At its highest point in late October, Shiba Inu managed to surpass the $40 billion market valuation and overtake Dogecoin (after which it was inspired) to become the 8th largest crypto by market cap. Although the price of SHIB has dropped by over 40% since its all-time high, a majority of its holders are in the profit.

    According to data from Intotheblock, 71% of SHIB holders are making money at current market rates, 12% are breakeven(-ish), and 17% are in the red. Furthermore, 78% of SHIB in circulation is held by large holders, which are identified as those addresses that are holding more than 0.1% of SHIB’s circulation supply.

    Interestingly, contrary to most digital assets, which experience their highs and lows in line with Bitcoin, SHIB has a relatively low price correlation to the world’s biggest crypto. As such, SHIB is a good option for those whole are looking to diversify their cryptocurrency portfolio.

    The popularity of SHIB might hit a new high point if the Robinhood exchange obliges the 500,000 users who have signed the petition at Change.org for the Shiba Inu listing. Although the exchange’s chief operating officer (COO) Christine Brown rejected the possibility of adding SHIB to the list of supported digital assets in the near term, Brown praised the Shiba Inu community and didn’t reject the possibility of listing SHIB down the road.

    SHIB has gained 1.84% in the last 24 hours and is currently trading at $0.00005408. With more than 549 trillion tokens in circulation, Shiba Inu is currently valued at $29 billion, good for the 11th spot in cryptocurrency market cap rankings.

    Buy/Sell SHIB
  • VanEck’s ETF Based on Bitcoin Futures is Launching on November 16

    VanEck’s ETF Based on Bitcoin Futures is Launching on November 16

    After years of back and forth with the U.S. regulators, VanEck’s exchange-traded fund based on Bitcoin futures has finally been greenlit and will begin trading on Tuesday on the Chicago Board Options Exchange (CBOE).

    Key takeaways:

    • VanEck’s Bitcoin Strategy ETF will be traded under the ticker XBTF. Tuesday’s launch will mark the third BTC futures ETH to begin trading in the United States in the span of the last month. 
    • On October 19, the first-ever BTC futures ETF started trading in the US after ProShares successfully launched its cryptocurrency-based financial instrument on the New York Stock Exchange (NYSE) under the ticker BITO.
    • The Valkyrie Bitcoin Strategy ETF (BTF) debuted on NASDAQ in the same week as BITO. BITO saw almost $1 billion in trading volume during its first day of trading. Judging by the record-breaking inflows, institutional investors were intrigued by new investing options.
    • Last week, the Securities and Exchange Commission (SEC) rejected VanEck’s application for a spot BTC, citing concerns over the potential for price manipulation as the main reason.
    • At a Bloomberg conference held on November 4, a Republican member of the SEC, Hester Peirce, explained that the reason BTC spot ETFs have been repeatedly rejected over the years “is that the Bitcoin markets don’t look like our regulated securities markets.” 
    • An exchange-traded fund based directly on Bitcoin would be a game-changer for institutional-scale investors unwilling to use cryptocurrency exchanges or other crypto-based products to expand their exposure to digital assets. 
    • Perhaps the US regulators will change their tune on BTC spot ETF in the near future after witnessing just how much interest futures ETFs are generating.
    Buy/Sell BTC
  • Velas and GPNFTS Partner, Bringing Lightning TPS to the Racing NFT World

    Velas and GPNFTS Partner, Bringing Lightning TPS to the Racing NFT World

    Press Release: Velas and GPNFTS have partnered, using Velas’ lightning-quick cross-chain blockchain to bring Motorsports to new levels of collectability and engagement.

    15th November 2021, Zug, Switzerland:  Various blockchains compete for traction in the NFT industry today, yet they fail to provide the necessary infrastructure required for the true scaling envisioned by project owners and the community alike. 

    A notable example is Ethereum: it has a vibrant and expansive community, but often leaves users with high fees and congestion on transactions. The Velas blockchain, on the other hand, has shown it can be efficient and has a growing ecosystem spanning various successful projects today. 

    The recently announced partnership between Velas and GPNFTS is a working demonstration of the power of a collaboration between an NFT project which has tapped a niche and dedicated market, and a blockchain which can provide the scalability required for complete success. GPNFTS founder Ali Rafi, who worked for many years in Formula 1, said: 

    “Our mission is to give motorsport fans a dedicated marketplace and a new way to engage with their favourite drivers and riders, sharing the excitement of race wins. This is a ground-breaking partnership, as it opens up a whole new market by introducing motorsport fans to a revolutionary new way of collecting incredible digital art.”

    To start with, Velas’ industry-leading TPS gives GPNFTS the bedrock upon which to build. With thousands of individual collectible memorabilia, and the anticipation of a very active secondary market, being able to comfortably handle transaction volumes is paramount to smooth operation.

    Moreover, as a DPoS (Delegated Proof of Stake) blockchain, Velas provides this functionality at a fractional cost of competing ecosystems, removing a crucial barrier to entry for new users, and encouraging a more liquid secondary market. Shirly Valge, COO of Velas, said: 

    “The deployment of GPNFTS on the Velas Blockchain is extremely exciting for us. Now, not only do motorsport fans have a carbon-conscious blockchain to collect and trade their memorabilia, Velas also has another project to add to its diverse belt.” 

    This, alongside the eco-conscious element of a PoS blockchain as opposed to a PoW (Proof of Work) blockchain means that the choice was easy to make for GPNFTS. As the final icing on the cake, the Velas ecosystem’s cross-chain capabilities will allow GPNFTS users to bring off-chain assets onto the chain, and onto the GPNFTS platform for storage and trade, truly opening the doors to ecosystem-wide trade.

    Why Velas Is Different

    As a fork of the Solana blockchain, Velas addresses pressing problems in the broader blockchain industry. It has one of the highest throughputs – up to 75k TPS – of all public blockchains today and achieves that with excellent cost-efficiency. These facets are a crucial first step toward becoming a blockchain that can significantly benefit the NFT ecosystem. In addition, it provides cross-chain capabilities. 

    Moreover, the Velas ecosystem is home to various development efforts. First, several projects have launched or are launching on this efficient blockchain. Those projects include VelasPad – the native launchpad for all Velas, 133x ROI after IDO – and BitOrbit – social media on the blockchain, 155x ROI after selling out in minutes – and WagyuSwap – the most efficient swapping and trading solution on the market today, over 100x ROI within the first few days after its IDO.   

    Second is the $100 million grant program to bring more developers and innovative ideas to Velas. It represents a significant financial commitment. The grant program’s primary focus is Web 3.0 development, which is possible thanks to Velas supporting Solidity, providing better scaling, and offering a composable solution. 

    GPNFTS – Own Your Piece of the Action

    The partnership between GPNFTS and Velas will change the way NFT projects are operated forever. In addition, GPNFTS brings some exciting features to the table, including digital collectible  packs, Metaverse Race tr – across F1, IndyCar, MotoGP and Le Mans- and a built-in marketplace the first of its kind where users can buy, sell, and trade their NFTs from the entire motorsport spectrum enabling a true marketplace no matter what blockchain its minted on.

    The current motorsports market is absolutely astronomical, and to capture that market share, GPNFTS established a solution for every fan to own a piece of one’s favorite sports digitally. The accessibility of such features will enhance the interaction between the sport, fans, and drivers in a way that was not possible with non-fungible tokens before. 

    Velas: A New Future for NFT Projects?

    As shown by this successful partnership, the time looks right for NFT projects to spring into a new era of blockchain. When collections start exploring efficient and robust solutions like Velas, the industry has a chance to continue growing by leaps and bounds. And with the recent successes of projects on Velas, it looks clear that GPNFTS are going to be a success, with Velas in hand as the go-to blockchain for NFT projects. 

    Head to the following links to find out more about GPNFTS and how Velas is revolutionizing NFTs on the blockchain.

    Media Contact Details
    Contact Name: Velas Press Office
    Contact Email: pressoffice@velas.com

  • PKR Will Reach a Bigger Audience with Bittrex Listing Live

    PKR Will Reach a Bigger Audience with Bittrex Listing Live

    Polker, a next-generation blockchain gaming metaverse, has revealed the listing of its utility token PKR on Bittrex exchange. This development comes as part of its efforts to increase the adoption of PKR and expand its ecosystem. 

    PKR tokens now available on Bittrex

    According to the report, Bittrex will be listing the USDT/PKR trading pair, and holders will be able to deposit their tokens on the exchange from November 12th. The trading of the listed pairs will start from November 15th from 4 pm UTC and introduce a range of activities on the exchange. 

    PKR holders will participate in different trading activities and can easily swap their tokens for fiat and vice-versa. Polker noted that the decision to list PKR on Bittrex was a no-brainer given its position in the crypto space. 

    Bittrex is one of the oldest crypto exchanges, having started operations in 2014, and is ranked within the top 20 centralized exchanges in market volume. The exchange platform is available in over 50 countries and processes an average daily transaction volume of $300 million. 

    Its trading platform is intuitive, and users are provided with easy navigation tools to access crypto-based financial options. Polker community will be able to leverage a highly liquid platform, and mainstream users can now purchase PKR tokens with fiat on Bittrex. 

    Polker’s Next Gen Metaverse Ecosytem

    The listing of PKR comes at a crucial point in the Polker roadmap ecosystem. Polker launched its testnet gaming platform on Thursday 11th which sets the stage for the rollout of its metaverse. Polker Metaverse is a first-of-its-kind and will enable gamers to have an immersive experience by combining virtual reality and blockchain technology. 

    Built on the Unreal 3D Engine 4, users are provided with a surreal virtual reality environment similar to the real-life setting. Gamers can edit their personal spaces and create anything they want to bolster their gaming experience. 

    NFTs are also a crucial aspect of Polker and are used as rewards for gamers. Each NFT is unique and gives gamers certain benefits, such as access to exclusive tournaments and new game launches. 

    Polker metaverse and is a premium virtual space for gamers. Players can take up avatars of top world personalities like Trump, Elon, KIM and Jack and play against each other. It also has some hidden features shrouded in secrecy and can only be unlocked within the game.

    Check Out The Polker Metaverse

    About Polker 

    Polker is a gaming metaverse powered by blockchain technology. Its metaverse is built on the unreal engine 4, enabling a highly immersive graphics gameplay for users. Polker gamers can Polker’s ecosystem is powered by its native token $PKR, which is available on UniSwap and PancakeSwap. PKR can also be staked with an APY of 36% on the Ethereum main net here. Staking of PKR will be available on Binance Smart Chain later in the year – so for those who don’t want to bridge to Ethereum, the opportunity is not missed. 

  • FTX.US Overtakes Coinbase as the Most Liquid US-Regulated Crypto Exchange

    FTX.US Overtakes Coinbase as the Most Liquid US-Regulated Crypto Exchange

    FTX.US, the American arm of the international FTX cryptocurrency exchange, has just released its latest quarterly results, showing quarter-over-quarter growth across several key metrics. The most notable piece of data from the Q3 results is the fact that FTX.US boasts higher liquidity than publicly traded Coinbase and long-established competitors like Kraken and Binance.US.

    Key takeaways:

    • On Thursday, West Realm Shires Services Inc, the operator of FTX.US, shared the exchange’s business results for the third quarter of 2021. The US-regulated crypto trading platform experienced a massive 512% increase in average daily trading volume during the quarter.
    • Although the Sam Bankman-Fried-founded FTX.US trails Coinbase, Kraken, and Binance.US in terms of the total trading volume, the US-based exchange fares better than its competitors in terms of asset liquidity.
    • According to Investopedia’s definition, in finance, liquidity refers to the efficiency with which an asset or security can be converted into fiat without affecting its market price.
    • The exchange accounted for 4.5% of the total US spot market trading by the end of September, an almost 40% increase compared to the start of Q3.
    • During the three-month period between the start of July and the end of September, the FTX.US userbase had grown by 52%.
    • “The trust and support of our user base has allowed FTX.US to become the fastest growing and most in-demand crypto exchange in the U.S.,” commented President of FTX.US Brett Harrison and continued by adding, “we have barely scratched the surface.”
    • Coinbase recently revealed its Q3 2021 results. The publicly traded exchange underperformed expectations in terms of revenues and profits, which led to a dip in its share price.
    • The FTX.US is rapidly expanding its list of products and services – in mid-October, for instance, the exchange added support for Solana-based non-fungible tokens (NFTs) and is reportedly planning to add support for Ethereum-based NFTs in the future. 
    Create FTX.US Account
  • Meet 2021 – 2022 NBA Season at 1xBit

    Meet 2021 – 2022 NBA Season at 1xBit

    Press Release: Are you ready to slam and dribble your way through 1xBit’s Four-point Play? We’re waiting for you!

    12th November 2021, Limassol, Cyprus — At 1xBit, we are incredibly pleased with the news of the NBA 2021 – 2022 schedule returning to normal. For too long have we endured postponed matches and an increased number of restrictions, but there appears some light at the end of the tunnel. With the off-season at its end and training camps set to begin soon, there is an air of almost electrifying excitement everywhere as basketball fans rejoice to experience a relatively normal season of basketball.

    Opening Night

    The opening night is scheduled for the third Tuesday of October. In honor of this incredibly thrilling news, the team at 1xBit invites you to participate in a celebratory tournament called the Four-point Play. At 1xBit, we are all about welcoming fans for all sports!

    How to Participate in Four-point Play

    The Four-point Play begins on November 1 and ends on December 1. The final prize draw will take place on December, 2, so make the most of it! Much like good shots bring points to basketball players, long winning streaks bring victory to bettors at 1xBit! That’s right, the luckiest users whose bets on the NBA win in a row the most times will get the most points and eventually find themselves on the path to victory!

    In order to participate in Four-point Play, users must place a bet of at least 0.5 mBTC on either live or pre-match NBA events with odds of 1.5 or higher and count their victories. The longer winning streaks a user has, the higher will be their place in the leaderboard. A high leaderboard position will eventually translate into more prizes to claim:

    • 1st place – 10 mBTC
    • 2nd place – 9 mBTC
    • 3rd place – 8 mBTC
    • 4th place – 7 mBTC
    • 5th place – 6 mBTC
    • 6th place – 5 mBTC
    • 7th place – 4 mBTC
    • 8th place – 3 mBTC
    • 9th place – 2 mBTC
    • 10th place – 1 mBTC

    More on 1xBit

    At 1xBit, we strive to build a fun and entertaining environment for fans of all sports! Apart from being an incredibly inclusive sports betting platform, we offer the following perks:

    • Multi-Currency Account: Enjoy a multi-currency account! Whether you have Ethereum (ETH) or Bitcoin Cash, you will appreciate that you can switch between any of over 30 currencies supported.
    • Huge Sportsbook: We want to keep the betting experience lively and interesting for fans of every sport. That is why 1xBit has a huge selection of sporting events with high odds!
    • Anonymous Platform: You do not have to input any private or personal information to get started on 1xBit. Enjoy 100% anonymity!

    The Four-point Play is only one tournament. There are many more coming your way. Follow the social media channels to be the first to know. 

    1xBit Socials
     Blog | Twitter | Telegram | Instagram | YouTube

    Media Contact Details
    Contact Name: Anastasia Semenova
    Contact Email: marketing@1x-bit.com 

    1xBit is the source of this content. This Press Release is for informational purposes only. The information does not constitute investment advice or an offer to invest

  • How To Earn Passive Income Using a CDEX Like Hashbon

    How To Earn Passive Income Using a CDEX Like Hashbon

    The crypto market is moving at a breakneck pace. Yet many people still find it very daunting, especially those without the technical know-how of smart contracts and blockchain. However, there is no “one way” of making money with cryptocurrency. There are a lot of opportunities in the crypto space, one of which is liquidity providing. Liquidity providing is funding a liquidity pool with crypto assets you own to enable trading on the platform. At the same time, you earn passive income on your deposit.

    Decentralized exchanges that use AMM (automated market maker) systems leverage liquidity pools to allow trading on their platform. Rather than use the standard order book-based trading method, they use funds saved for every asset in the trading pair to enable trading to happen.

    Liquidity providers are reasons why trade happens. Therefore, they are regarded as trade facilitators and are rewarded with a percentage of the transaction fee. The amount depends on the liquidity pool they provide. Anybody can become a liquidity provider with a decentralized exchange like Hashbon. However, Hashbon is not limited to liquidity providers alone. Large and small crypto investors can also take advantage of the platform to stake the HASH token. Crypto users interested in swapping tokens can also embrace the platform since they offer a cross-chain decentralized exchange.

    What makes Hashbon different from other exchanges? Let’s take a look at the Hashbon project and how anybody can benefit from the platform.

    Hashbon was created in 2016 to change the market of decentralized cryptocurrency payment for business owners and individuals. In 2021, the company expanded its Hashbon Finance Reinvented (FiRe) ecosystem and introduced its first-ever (CDEX) cross-chain DEX, Hashbon Rocket.

    Since Ethereum is getting closer to its bandwidth limit, Gas has increased in price, making crypto transactions relatively high for an average investor. This has led to the rise of BSC (Binance smart chain) to launch different token versions. This has also resulted in a problem where exchanging ERC 20 tokens into BEP 20 format is tedious.

    Hashbon developed Hashbon Rocket to tackle this problem by making the decentralized exchange of ERC 20 into BEP 20 an easy process, unlike other exchanges such as UNiswap and Pancake Swap that only support exchanges with a single blockchain. Other exchanges also have more control over users than they should and but Hashbon gives users complete ownership and control over their funds with enhanced security.

    According to their recent update, Hashbon prominent feature is its cross-chain exchange functionality. The project has established an ecosystem that allows other participants to generate returns. In their words, they plan to “Finovate” and “REinvent” the existing crypto payment landscape by providing a diversified ecosystem in the following ways.

    Users can become an arbiter for Hashbon Rocket and vote for transactions or stake Hash tokens. This means anyone holding HASH can generate revenue in two ways.

    Business owners can accept payments via the Hashbon platform, with zero percent transaction fees and one percent fees for exchanges, allowing businesses to take payments faster and efficiently all over the world.

    Individuals are also able to trade tokens and cryptocurrencies via the trading platform.

    Hashbon does this by using this process:

    1. Liquidity providers use the Hasbon Rocket system to enable trading pairs, allowing BEP-20 and ERC-20  tokens transfers by using smart contracts.
    2. The user can transfer tokens from one chain and receive tokens to another chain.
    3. Group of Arbiters can confirm the transaction and carry out any necessary cross-chain communication.

    To ensure that the Arbiters are managing the Swaps fairly, how much HASH they own determines how much they earn, which means that the proper response from an Arbiter with more HASH will make them a higher reward. At the same time, an incorrect one will result in the Arbiter getting a much higher penalty.