[PRESS RELEASE – Dubai, United Arab Emirates, September 9th, 2024]

Bitunix, a rapidly growing player in the cryptocurrency exchange market, has made a significant leap by ranking as the 13th global exchange on CoinGecko, categorized by trust score on September 2, 2024. This milestone comes on the heels of Bitunix unveiling its reserves through the implementation of Proof of Reserves (PoR), a move that has set a new standard for transparency in the industry.

By disclosing the Proof of Reserves, Bitunix has solidified its reputation as one of the most secure, liquid, and transparent derivatives exchanges worldwide. The exchange has established its place amongst some of the most eminent names in the crypto industry.

Source: CoinGecko

Factors Behind Bitunix’s Growth

The crypto industry comprises of 1,000+ exchanges, making it a saturated market to break in. Bitunix, one of the fastest growing crypto derivatives exchanges, climbed up the ladder by adopting different practices required to maintain a transparent and secure environment for all kinds of traders.

Bitunix’s PoR initiative reassures users that their funds are backed by real, verifiable reserves, setting a benchmark for accountability. Besides a secure platform, the exchange also allows users to execute trades directly on the chart with minimal effort, making the user experience phenomenal. In addition to this, Bitunix also accounts for high liquidity across 250+ trading pairs and 24*7 customer support.

A Testimony For Crypto Users

CoinGecko’s Trust Score, evaluates exchanges based on factors including transparency, security, and liquidity. Achieving a high rank on CoinGecko, a trusted and widely respected platform in the cryptocurrency space, is more than just a number; it can signify a vote of confidence from the broader crypto user base and communities.

These rankings collectively reinforce Bitunix’s reputation as a reliable and user-centric exchange. With the launch of PoR, Bitunix joins the ranks of other trusted exchanges such as Bybit, OKX, and Bitget, further establishing its credibility and appeal. In fact, this success comes along with another of Bitunix’s great achievements in such a short time, which is to surpass 1 million users.

There are other platforms and rankings that are also validating Bitunix’s achievements, either by showing the exchange’s proof of booking, ranking it at the top of the rankings, etc. Some of these platforms are Coinmarketcap and DeFiLlama.

This achievement highlights the progress Bitunix is making in its commitment to becoming the world’s leading derivatives exchange. With every milestone, Bitunix brings users closer to an environment where trading is effortless, secure, transparent, and increasingly liquid. Moreover, as the company itself points out on its social media, this is just the beginning, as 2024 still brings major releases that they claim will revolutionize the way cryptocurrency trading is done to date.

About Bitunix

Bitunix is a global crypto derivatives exchange founded in 2021, and dedicated to offering intelligent, social, highly secure, and cost-effective trading services to its users. Bitunix specializes in both crypto spot and perpetual futures trading, boasting more than 250 trading pairs with up to 125x leverage.

With attributes such as best liquidity, 24/7 customer support, and a strong commitment to regulatory compliance, Bitunix remains at the forefront of delivering a reliable trading experience for the global crypto community. Bitunix has attracted over 1,000,000 users from 100+ countries and has facilitated a cumulative daily trading volume that exceeds $1 billion on the platform.

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Agile Energy X – a company incorporated in Tokyo, Japan, and a subsidiary of the Tokyo Electric Power Company (TEPCO), is reportedly tapping into Bitcoin mining.

According to recent coverage, the firm looks to expand its capabilities through Bitcoin mining, banking that it can prevent waste of excess renewable energy.

It’s important to note that TEPCO is the largest electric utility company in Japan and also the 4th largest in the world.

Speaking on the matter was Kenji Tateiwa, president of Agile Energy X Inc., who said:

What we are doing has few parallels in Japan. Success of our framework would prompt more green energy to be introduced.

The executive also shared that he got the inspiration all the way back in 2018, when major issues concerning “output power control,” were brought up. The Bitcoin mining initiative would help energy producers to control their output through multiple means, such as temporarily halting power generation and using up the oversupply. This is especially relevant for photovoltaic power because its generation peaks during the daytime.

That being said, the company is yet to start mining Bitcoin. Tateiwa has proposed this new in-house project and the idea will be thoroughly tested through multiple demonstrations.

[PRESS RELEASE – Singapore, Singapore, September 9th, 2024]

Yield Staking and Auction-focused Pencils Protocol announced the successful completion of its strategic round of fundraising, which has propelled to an impressive $80 million post-money valuation. This round was led by Taisu Ventures, DePIN X, Bing Ventures, and Black GM Capital etc.

Pencils Protocol has been on a mission to revolutionize the decentralized finance (DeFi) landscape. With innovative products like Farming, Vaults, and Auctions, Pencils Protocol created a platform that not only offers robust financial tools but also empowers users to take control of their financial future. Their success is rooted in the support of the community — over 400,000 active users and a staggering $300 million in Total Value Locked (TVL) demonstrate the impact they have made in the DeFi space.

“We believe Pencils Protocol is well-positioned to contribute meaningfully to the growing Scroll ecosystem. Their use of Scroll’s zero-knowledge technology, combined with a focus on scalable and private DeFi services, aligns with our strategy of supporting innovative infrastructure in the Layer-2 space. Pencils Protocol’s offering of auction services, yield aggregation, and restaking presents a practical solution for enhancing asset utilization. We are confident in their ability to create value within the Scroll ecosystem through a measured, technology-driven approach.” — Takashi Hayashida, Managing Partner at Taisu Ventures

Moving forward, Pencils Protocol is thrilled to share the launch of its latest innovations: advanced multi-strategy Vaults, dynamic Auction and Shop products. These tools are designed to offer more sophisticated strategies for yield optimization and facilitate dynamic bidding for high-value assets across both Web2 and Web3, contributing further to the protocol’s goal of enhancing asset utilization within the DeFi space.

About Pencils Protocol

Pencils Protocol is a next-generation decentralized platform offering innovative DeFi solutions, including leveraged yield aggregation, auction services for blockchain and real-world assets (RWAs) and more. In partnership with Scroll, Pencils Protocol leverages zero-knowledge technology to enhance the scalability, privacy, and fairness of decentralized applications.

Website: http://pencilsprotocol.io

Medium: https://medium.com/@PencilsProtocol

Twitter: https://x.com/pencilsprotocol