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BitMEX’s BMEX token to start trading on Friday
BMEX token is set to start trading this week after the cryptocurrency exchange announced its development last year.
Crypto exchange Bitmex has announced that its native BMEX token will start trading on November 11. This latest cryptocurrency news comes roughly a year after BitMEX revealed that it would launch its own exchange coin.
BitMEX said earlier today that its token would be used to reward customers. This is similar to the features of other exchange tokens, including BNB, KCS, and FTT.
The crypto exchange said the rewards would be offered to traders in the form of trading fee discounts, withdrawal fee waivers, higher staking rewards and access to new products and services.
BitMEX is rolling out this latest feature in a bid to regain market share in the derivatives space. BitMEX was previously leading the crypto derivatives space but has lost its place in recent years to the likes of Binance, MEXC, and FTX.
Data collected from Coinmarket shows that BitMEX is the fourth-largest derivative exchange behind the three mentioned above.
The crypto exchange first announced the BMEX token in December 2021. The company went on to start airdropping the tokens to users in February this year.
According to BitMEX, it had airdropped millions of BMEX tokens to more than 80,000 traders since the start of the year.
In June, BitMEX delayed the listing of the BMEX token, citing the bearish market conditions. At the time, the crypto exchange said;
“Although we are ready to list BMEX, the present market conditions are not ideal, and we want to list the token in an environment that gives it the best chance to reward you, its holders.”
Last month, Alexander Hoeptner, the former CEO of BitMEX, revealed that the BMEX token would launch this year. At the time, he said;
“If you launch a token in a market which clearly is not at all at the bottom, then your token will be drained down with the general environment.”
BitMEX has always maintained that it would like to contribute to growth in liquidity and revitalise the cryptocurrency markets.
The crypto exchange will list the BMEX/USDT pair on its recently launched spot exchange by the end of the week. It will also launch two new perpetual swaps, BMEXUSDT and BMEXUSD, on its crypto derivative platform.
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HFT price prediction: Is Hashflow a good investment
The Hashflow price went parabolic this week as the number of exchange listings jumped. HFT was trading at $0.9530, which is about 365% above the lowest level this week. According to Binance, the coin has jumped by over 520% in the past 24 hours, giving it a market cap has jumped by more than $160 million.
What is Hashflow and why is it rising?
Hashflow is a relatively new blockchain project that seeks to change how the market works. It is a decentralised crypto exchange that has better features than other popular DEX platforms like Uniswap and dYdX.
Its top features are that it is interoperable across most chains like Solana, Ethereum, and BNB Chain. It also has a zero slippage and has a Maximal Extractable Value (MEV) protected trades. As such, it makes it possible for traders to buy and sell across multiple assets by simply connecting your wallet.
Most importantly, all trades in Hashflow are commission-free and all prices are executed at their display prices. Hashflow uses a different approach than other DEXes. Instead of using an automated market makers (AMM), it uses the request-for-quote (RFQ) model. RFQ allows professional market makers to manage liquidity pools, which helps traders and liquidity providers to access enhanced efficiency.
Hashflow uses the HFT token, which is the governance token. It is similar to Uniswap’s UNI and Maker’s MKR.
HFT price jumped sharply as the number of brokers who are listing the coin rose. Some of the top exchanges that have listed Hashflow are Huobi, Kraken, Bitrue, MEXC Global, Coinbase, BitMart, and Gate.io among others.
Coinbase will add support for Hashflow (HFT) on the Ethereum network (ERC-20 token). Do not send this asset over other networks or your funds may be lost. Inbound transfers for this asset are available on @Coinbase & @CoinbaseExch in the regions where trading is supported.
— Coinbase Assets (@CoinbaseAssets) November 7, 2022
Historically, cryptocurrency prices tend to rise after being listed in major exchanges. However, these gains tend to be limited.
HFT price forecast
The five-minute chart shows that the HFT price popped after being listed in key exchanges. It rose to a high of $4 and then pulls back to the current $0.90. The coin has now been in consolidation mode since then. At the same time, volume has dropped while the Average True Range (ATR) has continued dropping.
Therefore, the coin will likely have a bearish breakout in the coming days as the momentum fades. A move above the resistance level at $1.18 will invalidate the bearish view.
How to buy Hashflow
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SBF ruft zu Zusammenarbeit mit Binance auf: „Für das Ökosystem“
Der FTX-Gründer hat verneint, dass es Liquiditätsprobleme beim FTT-Token gebe und behauptet, das seien falsche Gerüchte.
VET is up by 4% today after the VeChain Foundation sets its mainnet hard fork date
VET is one of the best performers amongst the top 50 cryptocurrencies by market cap so far today.
VET, the native coin of the VeChain Thor blockchain, is up by more than 4% in the last 24 hours. Thanks to its latest rally, VET is outperforming the broader cryptocurrency market.
The positive performance comes after the VeChain Foundation announced that its Proof of Authority (PoA) 2.0 is set to go live on November 17 at block height 13815000.
After many years of hard work, #VeChainThor’s most significant mainnet hard fork is ready for deployment following the successful vote on VIP-220, or ‚Finality with one Bit‘ (FOB).
PoA2.0 is game-changing for #VeChain.
Let’s explore what users will need to do in a thread👇 $VET pic.twitter.com/uxulpfRc6W
— VeChain Foundation (@vechainofficial) November 7, 2022
The team pointed out that PoA 2.0 is the most significant mainnet hard fork by VeChain and will greatly improve the blockchain.
VET’s positive performance comes as the broader crypto market continues to underperform. The crypto market has lost 4% of its value over the past 24 hours, with the total cryptocurrency market cap now below $1 trillion.
Bitcoin has lost more than 4% of its value in the last 24 hours and is now trading below $20k for the first time in more than a week. Ether, the second-largest cryptocurrency by market cap, is down by 5% and is trading below $1,500.
Key levels to watch
The VET/USD 4-hour chart is bullish, as VeChain has been performing well over the last 24 hours. The technical indicators show that VET is outperforming the broader crypto market.
The MACD line is within the positive zone, indicating that the bulls are currently in charge. The 14-day relative strength index of 57 shows that VeChain could enter the overbought region if it rallies higher.
At press time, VET is trading at $0.02629 per coin. If the bullish trend continues, VET could move past the $0.0305 resistance level over the next few hours.
However, VET could need the support of the broader crypto market to rally above the $0.03375 resistance level for the first time since August.
Where to buy VeChain now
Capital.com
Capital.com is a global broker which offers over 200 cryptocurrencies for its users. It comes with a range of features such as; great security, 24/7 support, demo accounts and a wide variety of assets. On top of that, it also has no inactivity, withdrawal or deposit fees, which makes it stand out from other crypto brands.
Buy VET with Capital.com today
Binance
Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600. Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.
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