Connect with us

Cryptocurrency

Could cryptocurrency exchanges be the next big thing to invest in crypto?

The fascination with cryptocurrency has grown exponentially over the past decade or so as investors flock to the innovative projects’ tokens, meme tokens, and NFTs. However, one specific area has only recently captured the investors’ eye despite being one of the most crucial links to the crypto ecosystem – exchanges.

Published

on

Could cryptocurrency exchanges be the next big thing to invest in crypto?
Could cryptocurrency exchanges be the next big thing to invest in crypto?

The fascination with cryptocurrency has grown exponentially over the past decade or so as investors flock to the innovative projects’ tokens, meme tokens, and NFTs. However, one specific area has only recently captured the investors’ eye despite being one of the most crucial links to the crypto ecosystem – exchanges.

This April, Coinbase (NASDAQ:) became the first cryptocurrency exchange to launch its stock to the public, under the ticker, $COIN. With the Kraken exchange now also planning an initial public offering (IPO) on NASDAQ, investors now have a direct investment channel to invest in crypto exchanges. Not only can you invest in crypto exchanges but now you can easily create and run your own crypto exchange that is accessible, open, and cheap for all using open source platforms such as HollaEx.

The advantages of running your exchange

Apart from the trading fees generated for the crypto exchange as volumes increase, running your exchange gives extra benefits, to the exchange itself and the community around it.

Similar to stock exchanges and brokerages, crypto exchanges offer traders intermediary services and liquidity that allows traders to buy, sell, and trade assets seamlessly. Nonetheless, traditional finance exchanges are geographically and regulatory bound while crypto exchanges are more flexible providing services globally.

As volumes and profits rise across the exchange ecosystem, new innovations and utilities have been introduced to the field. These innovations have given crypto exchanges an upper hand in their dealing over their traditional partners. For instance, crypto exchanges such as Binance and OKEx have built launchpads to help projects raise capital through special public sales, commonly referred to as initial exchange offerings (IEOs). The public sale is similar to initial coin offerings (ICOs) but involves the exchange listing the project’s token on its launchpad for trading rather than directly offering it to the public.

IEOs has since birthed IDOs, or initial DEX offering, which entails launching the token on a decentralized exchange. Despite its advantages and gaining massive support from the DeFi community, launching an IDO raises its own challenges such as low participation from the community and a lack of control in the coin’s branding. IEOs excel well in these areas – check the performance of tokens launched on the Binance launchpad!

Building your exchange to enjoy the above would be quite a hassle hence the introduction of easy-to-use software systems such as HollaEx.

How to build your crypto and digital asset exchange

Launched in 2020, HollaEx is an open-source exchange network platform that empowers creators, businesses, developers, liquidity providers, and traders to participate in a digital marketplace by creating their own exchange. The platform provides users an easy-to-use software toolkit, HollaEx Kit, allowing them to run crypto and digital asset exchanges. The dev team provides a white-label software service that allows users to build and host their exchange or opt-in to quick to deploy cloud exchange plans.

“Aspiring businesses who aim to establish their own crypto exchanges only need to provide their domain names, logos, list of coins, and to focus on the management and operations of the exchange,” said Simon Gegen, a HollaEx core contributor.

As investors continue to try their hand at cryptocurrencies, solutions such as HollaEx still show there is much room for smart people to invest in crypto infrastructure. Besides the money made from transaction fees, exchanges offer a wide range of advantages to the crypto ecosystem via new innovations and features.

Final thoughts

In a universe increasingly being built in the metaverse, exchanges have (and will) played an important role in the financial system. In the future, billions of users will need on-ramps to access their favorite tokens, digital assets, non-fungible tokens, and access any decentralized service they wish through exchanges.

Inventors ought to take a closer look at crypto exchanges as an investment option, Simon added, whether it’s an already established exchange, or launching your own exchange with open-source crypto exchange software and other white-label providers such as HollaEX, Argo SE, or Exclusive Change Capital.’

Continue reading on BTC Peers

Cryptocurrency

Is bitcoin mining profitable today? Bitcoin mining difficulty drops for third month in a row

Published

on

is bitcoin mining profitable

Is bitcoin mining profitable? The difficulty of mining bitcoin began to drop precipitously as the largest-capitalization cryptocurrency’s price fell below $20,000

The Bitcoin Blockchain Network (BTC) is recording a decline in the number of active miners, which is reflected in a gradual drop in complexity. According to btc.com, bitcoin’s complexity has been dropping with each recalculation since May 10, and in late July the values dropped to the level of March this year.

Despite the decline, the situation so far does not look as dramatic as during the move of miners from China in the summer of 2021. Then it took only a little more than a month to zero out the semiannual capacity. However, it is worth noting that the current decline was the first systematic drop in bitcoin mining complexity since the “cryptocurrency winter” of 2018.

The drop in bitcoin mining algorithm complexity may be the result of a capacity outage from the network. As a reminder, the media has previously repeatedly reported on large sales of bitcoin reserves by miners to cover loans.

In June, the editorial board wrote that mining centers were in danger of closing as cryptocurrency miners were having difficulty meeting their credit obligations. Luxor Technologies co-founder Ethan Vera told Bloomberg that many lenders (Bable Finance, Galaxy Digital, bankrupt Celsius Network, BlockFi, Foundry Networks) are concerned that they have made too many loans to secure the mining devices themselves. He estimates that the firms have issued $4 billion in loans in total.

It remains unclear whether the miners could reach a consensus with their lenders. However, the weekly drop in complexity may signal that bitcoin miners still seem to have to cut back on processing capacity.

Continue Reading

Cryptocurrency

WazirX news: Indian authorities froze assets of WazirX

Published

on

wazirx news

WazirX news: India’s economic intelligence agency froze assets of Binance-bought WazirX after allegations of money laundering

Indian authorities have seized $8.1 million that belongs to WazirX. This is reported by Reuters citing economic intelligence in India. The reason for the sanctions is cited as a violation of the currency regime.

Intelligence says the arrest was made as part of an investigation into helping instant loan companies, laundering proceeds and converting criminal money into cryptocurrency. In addition to WazirX, the investigation also includes several fintech companies that were actively sponsored by Chinese hedge funds, the intelligence agency said. However, it is not clear which hedge funds are in question.

Changpeng Zhao, the founder and CEO of Binance, commented almost immediately on the news of the connection with WazirX. According to him, Binance “never completed” the takeover of WazirX. He acknowledged that the company had announced the purchase of WazirX, but had not completed the purchase. What exactly was the reason for freezing the deal remains unclear. At the same time, it is worth noting that WazirX does not exist as such. 

At the same time, Zhao admitted that WazirX did use Binance wallets. Moreover, the parties even set up a system of “offchain transactions to reduce fees.”

Earlier, the media reported that about $350 million may have been laundered through WazirX. According to Indian Finance Minister Pankaj Chaudhary, the investigation found that the cryptocurrency storage system in WazirX is entirely tied to Binance wallets. Also, in fact, no transactions were recorded between the two exchanges via the blockchain.

This is not the first time WazirX has come under scrutiny by local authorities. For example, in January 2021, Tax India found that WazirX had evaded taxes totaling nearly $5.5 million. Because of the violations found, the exchange was fined $6.6 million.

Moreover, in the summer of 2021, WazirX was also accused of money laundering. Then India’s economic intelligence agency suspected the company of helping to launder about $7.9 million. Indian rupees were first converted into tether (USDT), and later they were transferred to Binance. Accusations of violations of Indian law became active in the media after the company was taken over by another trading platform, Binance, in 2019.

Continue Reading

Cryptocurrency

Latest crypto news: What happened on the crypto market as of August 4 morning

Published

on

daily crypto news

Daily crypto news: Starbucks will develop loyalty program with web3 tools, Solana developers found alleged culprit of ecosystem exploit, ZBExchange withdrew cryptocurrency for nearly $5 million – these and other news in our review

Bitcoin (BTC) started Thursday with a rise, according to CoinMarketCap. The cryptocurrency is trading at $23,123. Bitcoin’s 24-hour low was recorded at $22,790 and its high was at $23,578.

In the top 10 most capitalized cryptocurrencies, Binance Coin has the best results for the day (+6.85) and week (+11.24). Within the last seven days and 24 hours, all cryptocurrencies except Cardano and a lot of stablecoins showed positive dynamics. ADA’s loss for the week was 0.39%.

According to Latest crypto news, in the top 100 most capitalized cryptocurrencies, according to the resource CoinGecko, the best result for the day (+34.7%) and week (+109.1%) was recorded at Optimism. Cronos was the most actively losing price in the last 24 hours ( 8.88%). Tennessee (-20.0%) recorded the largest losses during the week.

A cryptocurrency worth almost $5 million was withdrawn from the hot wallet of cryptocurrency exchange ZBExchange. The assets fell into the hands of fraudsters because of the hacking of the trading platform. The attackers sold the obtained cryptocurrency for Ethereum on a lot of decentralized crypto-exchanges. 

The developers of the cryptoproject Solana, whose ecosystem was exploited on the night of August 2 to 3, 2022, found the culprit. While investigating the incident, the organization’s team discovered that the security breach was related to Slope’s mobile cryptocurrency wallet.

Earlier, the project team urged users, for security purposes, to move cryptocurrency to cold storage and shared recommendations. The details of the incident are still under investigation.

The popular coffee chain Starbucks is planning to launch a loyalty program based on web3. This, during a phone conversation with investors, was announced by the company’s CEO, Howard Schultz. According to Schultz, the program will allow Starbucks to introduce new methods of customer engagement, expanding its approach to the “digital community” as well as increasing the list of available rewards. The company previously said it intends to enter the NFT marketplace by the end of 2022.


Continue Reading

News

is bitcoin mining profitable is bitcoin mining profitable
Cryptocurrency10 mins ago

Is bitcoin mining profitable today? Bitcoin mining difficulty drops for third month in a row

Is bitcoin mining profitable? The difficulty of mining bitcoin began to drop precipitously as the largest-capitalization cryptocurrency’s price fell below...

wazirx news wazirx news
Cryptocurrency18 mins ago

WazirX news: Indian authorities froze assets of WazirX

WazirX news: India’s economic intelligence agency froze assets of Binance-bought WazirX after allegations of money laundering Indian authorities have seized...

us recession and stock market us recession and stock market
Forex2 days ago

US recession and stock market. Thomas Barkin, Fed: Recession is virtually impossible

The U.S. recession and the stock market are closely linked. The key U.S. stock market indices – Dow Jones, NASDAQ...

usd to euro rate usd to euro rate
Forex2 days ago

Euro rate chart: the euro is not going into a trap

No matter how much FOMC officials try to convince investors of the Fed’s commitment to aggressive tightening of monetary policy,...

european stock market news european stock market news
Forex2 days ago

European stock market news: Europe started to lag behind the rise in U.S. stock prices

Current European stock market news: U.S. stock futures rose slightly Friday, helped by tech stocks as investors prepare for the...

dollar rate exchange dollar rate exchange
Forex2 days ago

Dollar rate today live: What is happening to the dollar today?

As you know, the dollar exchange rate has been lagging lately. We all wish wars would end as quickly as...

u.s. stock market capitalization 2022 u.s. stock market capitalization 2022
Forex2 days ago

U.S. stock market capitalization 2022: Morgan Stanley advises against buying U.S. stocks

U.S. stock market capitalization by 2022 leaves much to be desired. The key U.S. stock market indexes – DOW Jones,...

eur/usd chart eur/usd chart
Forex2 days ago

EUR/USD: European Union’s main currency problems

EUR/USD: The pair stayed in the flat, as investors refrained from making big bets before the U.S. labor market data...

asian stock market charts asian stock market charts
Forex2 days ago

Asian stock market charts: Major Asian indicators are up 0.88%

What’s happening on the Asian stock market charts right now? The major Asian indicators are mostly up 0.88%. Some indicators,...

nonfarm payrolls and recession nonfarm payrolls and recession
Forex2 days ago

Nonfarm Payrolls and Recession: July’s NonFarm Payrolls Surprise – What Next?

As you know, nonfarm payrolls and the recession are always closely related. The U.S. Federal Reserve sees its main goal...

stock market today stock market today
Forex2 days ago

Stock market today: Stock Europe closes the week with a fall

Stock market today: In trading on Friday, key stock indicators in Western Europe are showing a decline amid weak financial...

Best US brokers Best US brokers
Forex2 days ago

Top brokers USA

Due to the strictness of the supervisory agencies to the investment market in the United States, traders who choose a...

nasdaq chart today nasdaq chart today
Commodities2 days ago

Nasdaq 100 index rises for third straight week 

The Nasdaq chart today, which reflects the value of stocks of U.S. technology companies, rose 20% from its June low....

carbon emissions and climate change carbon emissions and climate change
Commodities2 days ago

4 Dividend Stocks Offering Double-Digit Yields: An Easy Way To Earn Passive Income

Carbon emissions and climate change are well known, so many global companies are concerned about this factor. Today it is...

China's military exercises near Taiwan China's military exercises near Taiwan
Commodities2 days ago

Situation in Taiwan leads to detours and delays in global transport

China’s military exercises near Taiwan have pushed the situation in the region to the limit. Therefore, some ships carrying liquefied...

historical price of gasoline in the US historical price of gasoline in the US
Commodities2 days ago

Demand for gasoline in the U.S. has fallen below pandemic levels

According to the U.S. Energy Information Administration, average monthly gasoline consumption has fallen below the 2020 level. The demand surge...

oil prices in asian countries oil prices in asian countries
Commodities2 days ago

Saudi Arabia raises oil prices in Asian countries to record levels

Aramco is raising Arab Light oil prices by 50 cents in September. It is a record increase in oil prices...

current electricity prices UK current electricity prices UK
Commodities2 days ago

Current electricity prices UK: Marginal annual energy costs in the UK jump above £4,000

Current electricity prices in the UK are rising fast. According to Investec Bank Plc, the price ceiling paid by households...

oil prices chart oil prices chart
Commodities2 days ago

Oil prices daily adjusted upward

The price of October futures for Brent at London’s ICE Futures Exchange stood at $95.74 per barrel, up $1.62 (1.72%)...

current gold price current gold price
Commodities2 days ago

Current gold price stabilizes after rally

Current gold prices on Thursday morning grew slightly; with the second day remaining above $1,800 per troy ounce; markets are...

futures wheat price futures wheat price
Commodities2 days ago

Futures wheat prices: wheat rose sharply on the Chicago Exchange

Futures wheat prices as well as soybeans in Chicago rose sharply on Thursday. Wheat quotations recovered from 6-month lows on...

daily crypto news daily crypto news
Cryptocurrency4 days ago

Latest crypto news: What happened on the crypto market as of August 4 morning

Daily crypto news: Starbucks will develop loyalty program with web3 tools, Solana developers found alleged culprit of ecosystem exploit, ZBExchange...

staking cardano ada staking cardano ada
Cryptocurrency4 days ago

Bank Sygnum adds support for staking Cardano (ADA)

Swiss digital bank Sygnum announced that staking Cardano ADA is now available to its users.  Sygnum Bank customers can now...

next ethereum update next ethereum update
Cryptocurrency4 days ago

Next Ethereum update will attract more investment from institutions

Next Ethereum update will be a deciding factor in increasing institutional investment in cryptocurrency A Bloomberg Intelligence report suggests that...

news about coinbase news about coinbase
Cryptocurrency4 days ago

Breaking news about Coinbase: Court finds ex-Coinbase employee accused of insider trading not guilty

Breaking news about Coinbase: A federal court in Manhattan has found not guilty a former employee of Ishan Wahi, whom...

inflation in Europe by country inflation in Europe by country
Forex4 days ago

Inflation in European Union: Producer prices in the euro area rose by 1.1% in June and by 1.3% in the EU

Inflation in the European Union: Euro-area producer prices (PPI) rose 1.1% in June 2022 compared to the previous month, when...

dollar rate today dollar rate today
Forex4 days ago

The dollar rate today is stable against the euro and the yen

During trading the dollar rate today practically does not change against major world currencies; traders are waiting for a report...

gas prices in the EU gas prices in the EU
Forex4 days ago

S&P sharply upgraded its outlook for gas prices around Europe in the coming years

International rating agency Standard & Poor’s Global Ratings has sharply increased forecast gas prices in the EU in the coming...

chart gold price chart gold price
Commodities4 days ago

Chart gold price: quotes stabilized amid falling U.S. bond yields

The chart of gold prices shows that global gold prices have stabilized amid falling U.S. government bond yields. Gold prices...

current wheat price current wheat price
Commodities4 days ago

Exchange current wheat price rises amid active demand

Chicago’s current wheat prices are rising on Wednesday, recovering from a one-week low reached earlier in the session. More active...

Trending

©2021-2022 Letizo All Rights Reserved