Kategorie: Crypto Markets

• Bitfinex Derivatives launched perpetuals for HS50, NI225, and XJO.
• The derivatives platform’s services are not available to the U.S. users.
• The new perpetual contracts went live today at 06:30 a.m. ET.

Bitfinex Derivatives now allows trading products you’ll typically find on a traditional financial exchange and that too with no restrictions in terms of the trading hours (certain limitations apply).

Bitfinex Derivatives adds to its perpetuals portfolio

On Wednesday, the derivatives platform launched perpetual contracts for three of the prominent Asian equity indices. In the press release, CTO Paolo Ardoino said:

We are delighted to add the HONG KONG 50, JAPAN 225, and AUSTRALIA 200 perpetual swaps to our portfolio of derivatives products.

The said contracts went live today at 06:30 AM ET. Bitfinex recently said the total number of bitcoin wallets with non-zero BTC balance climbed to a record 45.388 million.

New perpetual contracts are not open for U.S. users

Remember that Bitfinex Derivatives and the range of its services are not available to U.S. clients. Even in the allowed jurisdictions, its open only to verified users.

The perpetual contracts this platform announced today allow leverage of up to 100 times and work pretty much the same way as the rest of its perpetual trading portfolio – all transactions are settled in USDt or U.S. dollar denominated Tether tokens. Ardoino added:

These equity indices are strong indicators of how the Asian economy is performing. We’re proud to give Bitfinex Derivatives traders freedom to trade these contracts at any time of the day and week.

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• Trust Wallet has announced a crypto-to-fiat off-ramp.
• The Binance non-custodial wallet has partnered MoonPay and Ramp 
• TWT price jumped 9% after the news to hit above $1.31 before selling saw it drop to $1.25 as of writing.

Trust Wallet Token (TWT), the native token of Trust Wallet, saw its price jump more than 9% to hit $1.31 after news the non-custodial crypto wallet provider had launched a crypto-to-fiat off-ramp.

The partnership with Web3 payments platform MoonPay and non-custodial fiat-to-crypto infrastructure provider Ramp will allow Trust Wallet users to seamlessly convert crypto to fiat without having to touch a centralized crypto exchange. Users will transact directly from within the Trust Wallet app, the firms noted.

TWT price outlook after Trust Wallet partnerships

As noted above, Trust Wallet’s integration with MoonPay and Ramp means users can now enjoy seamless withdrawals when handling crypto-to-fiat transactions. The news of the development, which will see the non-custodial wallet’s users tap into frictionless crypto market transactions, also means full control of the stored funds.

While potential profit taking could push TWT/USD to immediate support levels below $1.20, new upside momentum could put bulls on track to retest the resistance around the $1.40 area. A move to $1.76 or higher would open up should the broader market flip bullish.

TWT was trading around $1.25 at the time of writing, with its price up 6% in the past 24 hours.

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• BGB price rose to highs above $0.42, with current price roughly 20% off all-time highs of $0.51.
• Dragonfly Capital made a $10 million strategic investment in crypto derivatives exchange Bitget
• Bitget will use the capital injection to expand its products and promote crypto education.

Bitget Token (BGB) traded higher as the community around the cryptocurrency derivatives exchange Bitget reacted positively to news of a fresh venture capital injection.

BGB price broke to highs of $0.42 after having traded at lows of $0.39 on Monday, with the positive sentiment seeing over $9 million worth of the token traded in the past 24 hours. In terms of price gains, BGB was up 2% and 9% in the past 24 hours and 7 days respectively.

The price of Bitget’s native token, currently above $0.41, is about 2% off the all-time highs above $0.51 reached on 18 February. If sellers take the $0.40 support, BGB could revisit the $0.31 region

Dragonfly invests $10 million in Bitget

Dragonfly, a crypto-focused venture capital firm that invests in projects in the digital assets ecosystem – from seed to series D – announced a $10 million strategic investment in crypto platform Bitget. 

Blockchain data and research platform Nansen highlighted on 4 April that a Dragonfly wallet had received 60,219,900 $BGB (approximately $24 million) a few days ago, suggesting this could be part of the deal.

💫 NEWS: Dragonfly invests $10 million in derivatives exchange Bitget

That partly explains the 60,219,900 $BGB (~$24 million) sent to a Dragonfly wallet 6 days ago pic.twitter.com/xl4Td5u5dX

— Nansen 🧭 (@nansen_ai) April 4, 2023

The investment will support the crypto derivatives exchange’s market and service expansion across the globe, Dragonfly said in a press release. The funds will also go into Bitget’s CSR initiatives as the platform looks to promote crypto education and adoption.

“As the fastest-growing exchange in the past 12 months, this investment is a recognition of our focus on BUIDL in the bear run. Except for the cash inflow, what will benefit us more from the Dragonfly partnership is their crypto savvy and insights. Together, we will be able to discover more growth opportunities and contribute more to the sustainable growth of our industry,” Gracy Chen, the Managing Director of Bitget said.

The investment also comes as Bitget looks to double down on its efforts across spot trading, launchpad, and earning products. 

Bitget recently partnered Space and Time to provide full transparency to its proof of reserves and also has partnerships with soccer star Lionel Messi and Italian football giants Juventus.

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• PancakeSwap V3 was launched on Ethereum and BNB Chain.
• CAKE price surged $3.83 to a high of $3.83 following the news.
• The upgraded platform will offer the cheapest fees for on-chain trades.

At press time CAKE price was up 2.13% to trade at $3.77 a day after PancakeSwap announced the launch of its version 3 on Ethereum and BNB Chain.

The upgraded platform will offer users the cheapest fees for on-chain trades among its competitors like Uniswap and SushiSwap. It will also offer increased returns for liquidity providers.

Features introduced by the PancakeSwap V3

The upgraded platform allows liquidity providers to concentrate their capital on smaller ranges leading to higher returns.

PancakeSwap V3 also introduces four different trading fee tiers for users. The fee tiers are 0.01%, 0.05%, 0.25%, and 1% compared to the general 0.25% tier that PancakeSwap V2 was offering. Additionally, each token pair can have a liquidity pool for each fee tier.

The PancakeSwap team also plans to introduce two new features in future. These features include a VIP trading reward program and a position manager feature. The exchange’s VIP program is a tired system that rewards traders with things like up to 5% trading fee rebates depending on their trading volume.

The position manager feature will enable traders to easily deposit liquidity and optimize their positions based on rewards and fees over time. This feature will eliminate the need for manual calculations from third-party integrations thus allowing users to automatically adjust their positions to optimize on returns.

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• Celo price rose to intraday highs of $0.73 on Tuesday, with trading volume rising 139%.
• The price surge followed news of Celo Foundation and Google Cloud partnership to boost Web3 founders on the Celo blockchain.
• CELO price outlook suggests key hurdle is at $0.74 while immediate main support is around $0.56.

CELO price rose on Tuesday as the Celo Foundation and Google Cloud partnered to help accelerate further adoption across Web3. CELO price traded at lows of $0.65 earlier in the day, but shot to intraday highs above $0.73 as news of the partnership reached the market.

At the time of writing, the CELO/USD pair was up 7% with trading volume spiking 139% in the 24-hour period. 

The increased market activity had seen CELO price tick up 20% over the past week as well as turning positive in the 30-day period with about 2% of upside.

CELO price jumps to $0.73 after Celo/Google Cloud news

On Tuesday, the Celo Foundation announced a collaboration with Google Cloud, the cloud computing services arm of tech giant Google. Celo price rose after the news.

According to the Celo Foundation, the partnership will see Web3 founders and developers building on Celo benefit from workshops and computing services from Google. Per the foundation, Google Cloud has joined Celo’s founders’ program and will play a key role in boosting Web3-focused projects by offering credits for use across Google Cloud and Firebase platforms. 

Firebase is Google’s mobile platform that offers cross-platform SDKs for developers to build and ship apps.

Google Cloud’s core team is also set to provide mentorship and guidance to projects via Celo Foundation’s Founders in Residence program. The leadership efforts will also be available during Celo Camp, an eight-week virtual accelerator program, with Google Cloud now joining key supporters including Twilio SendGrid, HubSpot, and Coinbase Cloud.

What next for CELO price?

CELO traded at highs of $0.92 in early February. At current price levels of $0.69, Celo is more than 90% off its all-time high of $9.82 reached in August 2021.

As for the short term technical outlook for CELO, the latest price is above the coin’s 200-day simple moving average (SMA). However, after hitting intraday highs above $0.73, the retreat below 70 cents has CELO/USD below the 50-day SMA.  

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