Bitfinex Derivatives launches perpetual contracts for Asian equity indices

  • 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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After Raising $16.35m In Its Presale Event, Metacade Announces Debut on Bitmart Exchange

As the adoption of Web3 technology accelerates across industries, the gaming sector has emerged as a frontrunner in embracing the paradigm shift, revealing immense potential for innovation and growth. Metacade, a hugely promising GameFi project, has captured the attention of those looking to invest in crypto with its unique play-to-earn (P2E) ecosystem and compelling vision for the future of gaming. Riding on the wave of enthusiasm surrounding the project, Metacade has successfully raised $16.35m in its presale event, showcasing the confidence and support of its burgeoning community.

In a major announcement that has further fueled the excitement around this high-potential project, Metacade has revealed its upcoming debut on the renowned Bitmart Exchange. This development not only highlights the growing interest in Metacade as a solid investment choice but also signifies a crucial milestone in the project’s journey to becoming an influential player in the rapidly evolving world of GameFi and Web3 technology.

Will MCADE see significant increases in price this year?

As optimism surrounding the GameFi sector continues to grow, the Metacade project has captured the attention of experts who are eager to evaluate if MCADE can reach a significant price range of between $0.90 and $1.20 by the end of 2023 and into the following year.

Metacade’s diverse gaming experiences offer it a competitive advantage in determining its potential market cap, with its vast total addressable market indicating that the platform’s user base could see exponential growth as the platform begins to come online later this year.

The platform’s array of incentives for user retention—especially for non-gaming activities—and its consistently improving user experience supported by robust reward systems suggests that the demand for utility token MCADE could increase dramatically in the near future. This positions it at the heart of GameFi, and could drive massive returns for investors as a result.

To reach a value between $0.90 and $1.20 for MCADE, a market cap of between $1.8 billion and $2.4 billion would be necessary. Considering the enticing tokenomics and the emergence of regulations that provide clarity for institutional investors (allowing them to enter the crypto market more aggressively), many experts believe that achieving this price range by the end of 2023 is entirely plausible.

With the announcement of Metacade’s debut on the prominent Bitmart Exchange, the project also looks set to gain even greater visibility and attract more of those looking to invest in crypto. Given the strong potential of the project in the burgeoning GameFi sector, reaching a price in its target range by the end of 2023 seems within reach, making Metacade an exciting investment opportunity for those looking to capitalize on the rapidly evolving world of GameFi.

What is Metacade?

Metacade is set to disrupt the gaming industry by creating the most extensive play-to-earn (P2E) arcade in existence, positioning itself as a key player in the rapidly growing GameFi sector. Metacade’s ambitious plans have captured the attention of gamers and the entire industry, thanks to its innovative rewards system that allows users to earn income not only by playing games but also through contributing to the platform in various ways, such as sharing alpha or writing game reviews.

The project’s native token, MCADE, could present a significant opportunity for investors, as its extensive utility within the platform combined with its limited supply and attractive presale prices have contributed to the impressive $16.35m raised in a very short period of time.

How does MCADE work?

MCADE, the native token of the Metacade ecosystem, serves as the driving force behind the platform’s various functions, including the rewards system and facilitating value exchanges throughout the platform — such as entering tournaments or purchasing in-game items. This high level of utility ensures a consistent demand for the token as more users join the platform, creating a great deal of demand and potentially driving its value upward.

In addition to its utility, MCADE offers staking options for token holders, enabling them to earn passive income through stablecoin rewards. This approach not only provides investors with a way to generate returns on their investment but also poses no risk to the circulating supply of MCADE as rewards are issued in stablecoins, reflecting the project’s commitment to creating a sustainable and investor-friendly ecosystem.

Is MCADE a good investment?

As Metacade’s incredible journey continues to unfold, its recent success in raising $16.35m in its presale event and the announcement of its upcoming debut on the prestigious Bitmart Exchange demonstrates the immense potential of this GameFi project. With an innovative P2E ecosystem and a strong vision for the future of gaming, Metacade is well-positioned to make a significant impact in the rapidly evolving world of Web3 technology and decentralized gaming.

The excitement surrounding Metacade as a promising investment opportunity is palpable, and its listing on Bitmart Exchange is poised to further enhance its visibility and credibility in the eyes of both retail and institutional investors. As the GameFi sector continues to expand and mature, Metacade’s unique approach to blending gaming, blockchain, and Web3 technologies has the potential to reshape the gaming landscape for years to come.

The Metacade project stands as a testament to the power of innovation and collaboration in the age of Web3 technology. As it embarks on this exciting new chapter with its debut on Bitmart Exchange, Metacade is undeniably a project to watch closely, offering investors an incredible opportunity to be a part of a groundbreaking movement in the gaming industry that could deliver huge profits.

You can buy Metacade here.

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TWT price jumps 9% after Trust Wallet partners MoonPay and Ramp

  • 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.

TWT price on the 4-hour chart. Source: TradingView

The positive update added to TWT’s buying pressure, with bulls breaking above $1.30 for the first time since 18 March this year. However, the 4-hour RSI is firmly in overbought territory and extended, suggesting a possible dip is on the cards in the short term.

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 sees uptick after Dragonfly invests $10M in Bitget

  • 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.

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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MicroStrategy adds 1,045 BTC to bring Bitcoin stash to 140,000

  • MicroStrategy is the world’s largest public holder of Bitcoin.
  • Documents show the company recently bought another 1,045 BTC for $29.3million, days after purchasing 6,455 BTC for $150 million.
  • MicroStrategy now holds 140,000 bitcoin acquired for $4.17 billion at an average of $29,803.

In MicroStrategy news today, the company has announced the purchase of an additional 1,045 bitcoin acquired for $29.3 million.

The Bitcoin was acquired between March 24, 2023 and April 4, 2023, according to details in the Form 8-K filing on 5 April, with the firm now holding a total of 140,000 BTC.

MicroStrategy buys bitcoin after US government sells 9,861 BTC

MicroStrategy’s latest purchase comes less than two weeks after MicroStrategy founder Michael Saylor announced the business intelligence software firm had acquired 6,455 BTC for $150 million. That purchase was made at an average of $23,238 a coin and saw the world’s largest public holder of Bitcoin bring its total holdings to 138,955 BTC.

On Wednesday, Saylor announced the company had bought the 1,045 BTC at the average price of $28,016 per coin. The US-based company now holds 140,000 BTC acquired for approximately $4.17 billion and at an average price of $29,803 per BTC.

MicroStrategy has added to its bitcoin stash regularly since 2020, with many purchases completed during price dips. This most recent purchase notably happened a few days after the US government sold over $215 million worth of BTC.

As CoinJournal reported last week, the US government said it sold 9,861.17 BTC connected to the closed darknet market Silk Road on 14 March. The US also announced plans to sell an additional 41,490 BTC in four batches throughout 2023, with the total sales amounting to 51,351 bitcoin that was seized James Zhong.

Bitcoin was trading around $28,497 at 9:26 am ET on Wednesday, up 84% year-to-date. The MicroStrategy stock closed near $299 on Tuesday, with MSTR up more than 105% YTD.

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