EXPERIMENT - Tracking Top 10 Cryptos of 2018 - Month 33 - Down -76%submitted by Joe-M-4 to CryptoCurrency [link] [comments]
See the full blog post with all the tables here.
Month Thirty Three – Down 76%2018 Top Ten Summary for September
After a rough start to September, crypto spent the month trying in vain to claw back ground. While a few coins rebounded quite a bit from the monthly lows, most ended up finishing the month significantly down. Out of the 2018 Top Ten group, Bitcoin lost the least, down -8% in September. NEM followed it’s winning August (yes, you read that right) with the poorest performance, down -26%.
Question of the month:
Which cryptocurrency exchange won approval to create America’s first crypto bank in September?A) Binance B) Binance.us C) Kraken D) Coinbase
Scroll down for the answer.
Ranking and September Winners and LosersRank of 2018 Portfolio - 50% no longer in Top Ten
A lot of shuffling in September. On the upside, Bitcoin Cash and Cardano gained one place each landing at #5 and #10 respectively. Cardano gets special mention for re-entering the Top Ten.
Heading the wrong direction were IOTA, NEM, Dash, and Stellar each falling two or three spots.
The big story though, for long time crypto watchers, was the ejection of Litecoin from the Top Ten, down five places from #7 to #12 in just one month. For some context, Litecoin’s absence from the Top Ten is a Top Ten Experiment first. It is also the first time since CoinMarketCap has tracked crypto rankings that Litecoin has not been in the Top Ten.
Drop outs: After thirty-three months of this experiment 50% of the cryptos that started 2018 in the Top Ten have dropped out. NEM, Litecoin, Dash, IOTA, and Stellar have been replaced by Binance Coin, Tether, BSV, LINK, and most recently, DOT.
September Winners – Although it lost -8% of its value, this month’s W goes to Bitcoin. ADA gets second place, down -15% and climbing back into the Top Ten.
September Losers – As most probably expected after an extremely out of character victory last month, NEM came back down to earth in September, bigly, down -26%. Litecoin finished right behind, down -24% and dropping out of the Top Ten.
For the overly competitive, below is a tally of the winners of the first 33 months of the 2018 Top Ten Crypto Index Fund Experiment. Bitcoin still has the most monthly wins (8) and Cardano in second place with 6 monthly wins. With its poor September performance, NEM now has 7 monthly losses.
Ws and Ls - One clear winner
Every crypto has at least one monthly win and Bitcoin is unique as the only cryptocurrency that hasn’t lost a month yet since January 2018.
Overall update – BTC solidly in the lead, followed by ETH. Dash in the basement, LTC drops out of the Top Ten.Even though BTC took a bit of a detour on its way back to break-even point, it is still far ahead of the field, down -17% since January 2018. The initial investment of $100 thirty-three months ago is now worth about $83. Second place Ethereum is down -49% over the same time period.
At this point in the 2018 Top Ten Experiment, Dash is at the bottom. It is currently worth $70.49, down from a January 1st, 2018 starting price of over $1,000. That’s a loss of -93%. The initial $100 invested in Dash 33 months ago is now worth $6.77.
The big story this month is LTC’s departure from the Top Ten, the first time since I started the experiment back in January 2018. Whether or not it will eventually fend off the new generation of coins remains to be seen, but it certainly is noteworthy to have one of the most well known and long standing cryptos drop out of the Top Ten. Consider pouring one out for Litecoin.
Total Market Cap for the entire cryptocurrency sector:The crypto market lost over $35B in September and is down -39% since January 2018. The value of the overall crypto market is near where it was in August of this year, just a few months back. As painful as the beginning of the month was, looking at a table like this helps with perspective, especially if you’re panic prone.
Bitcoin dominance:After steadily dipping for months, BitDom increased a bit in September, up to 57.5%.
For some context: since the beginning of the experiment, the range of Bitcoin dominance has been quite wide: we saw a high of 70% BitDom in September 2019 and a low of 33% BitDom in February 2018.
Overall return on $1,000 investment since January 1st, 2018:The 2018 Top Ten Portfolio lost -$50 this month. If I cashed out today, the $1000 initial investment would return about $238, down -76% from January 2018.
September broke an encouraging upward trend, but at least the portfolio is taking a break from the -80% range. Here’s a look at the ROI over the life of the experiment, month by month, for some context:
33 Monthly ROIs on Top Ten since Jan 2018
The absolute bottom was -88% back in January 2019.
So the Top Ten Cryptos of 2018 are down -76%. What about the 2019 and 2020 Top Tens? Let’s take a look:
After a $3000 investment in the 2018, 2019, and 2020 Top Ten Cryptocurrencies, my combined portfolios are worth $3,340 ($238+ $1,538 +$1,564).
That’s up about +11% for the three combined portfolios, compared to +31% last month.
Here’s a table to help visualize:
Combined ROI on $3k over 3 years - UP +11%
That’s a +11% gain by investing $1k on whichever cryptos happened to be in the Top Ten on January 1st for three straight years.
But surely you’d do better if you went all in on one crypto, right?
Depends on your choice. Let’s take a look:
ETH for the win
Only five cryptos have started in the Top Ten for all three years: BTC, ETH, XRP, BCH, and LTC (unless Litecoin can make a comeback by the 1st of Jan. 2021, it’s not going to make the four year club!). Knowing what we know now, which one would have been best to go all in on?
Ethereum, by a pretty good margin: the initial $3k would be up +104%, worth $6,118 today. The worst choice of a basket to put all your eggs in at this point in the experiment is XRP, down by almost one third.
Comparison to S&P 500:I’m also tracking the S&P 500 as part of the experiment to have a comparison point with other popular investments options. The S&P 500 Index fell from an all time high in August, but is currently up +26% since January 2018.
S&P since Jan. 2018
The initial $1k investment into crypto on January 1st, 2018 would have been worth about $1260 had it been redirected to the S&P.
But what if I took the same invest-$1,000-on-January-1st-of-each-year approach with the S&P 500 that I’ve been documenting through the Top Ten Crypto Experiments? Here are the numbers:
After three $1,000 investments into an S&P 500 index fund in January 2018, 2019, and 2020, my portfolio would be worth $3,660.
That is up +22% since January 2018, compared to a +11% gain of the combined Top Ten Crypto Experiment Portfolios.
That’s an 11% swing in favor of the S&P 500 and breaks a two month mini-streak of wins from the Top Ten crypto portfolios.
S&P vs. Top Ten Crypto Experiments
That’s seven monthly victories for the S&P vs. two monthly victories for crypto. The largest gap so far was a 22% difference in favor of the S&P in June.
Conclusion:September was a tough month for both traditional and crypto markets. What’s next for the rest of 2020? More volatility is no doubt to come as we enter the last quarter of a truly unpredictable and exhausting year. Buckle up.
Thanks for reading and for supporting the experiment. I hope you’ve found it helpful. I continue to be committed to seeing this process through and reporting along the way. Feel free to reach out with any questions and stay tuned for progress reports. Keep an eye out for my parallel projects where I repeat the experiment twice, purchasing another $1000 ($100 each) of two new sets of Top Ten cryptos as of January 1st, 2019 then again on January 1st, 2020.
And the Answer is…C) Kraken
According to an official announcement in September, Kraken is “the first digital asset company in U.S. history to receive a bank charter recognized under federal and state law.”
In this article I will just show you my workspace, how I work, and how it all looks. As I wrote earlier, there is manual and automated trading. For robots, of course, everything is simple: create it, launch it and the robot is ready to trade. Of course, from time to time I make sure that there are no surprises, bugs and problems. Initially, people think that after creating a robot, you can start it up and forget about it. But in fact, in trading, it is important to have everything in the field of attention: experience shows that otherwise you can get unpleasant losses (although there are sometimes pleasant random profits, but still losses are more often). A few examples below:submitted by Saro_M_V to u/Saro_M_V [link] [comments]
Okex spot BTCUSDT
Here is an example of a work area on the Okex spot BTCUSDT, where the purple histograms are for a cluster (volumetric) market analysis, on the basis of which I consider trading points within a day (for example, at the time of writing this article, it is assumed that a buy trade will be opened, with an exit at a price closer to 10750). The next example: the MOEX exchange, RTSI futures. The robot is working.
Rim0 on Micex
At the moment, the robot is out of position. There was a very effective short position, after which the algorithm is looking for new entry points. The same algorithm works with Bitcoin, as well as with the S&P500 futures.
BTC on Binance futures
Everything is simple and clear, the red arrow is a short position, the green one is a long one. At the moment, a short position on the Bitcoin market at a price close to 12000 is opened. The robot has no targets, and it does not assume where to close, and despite the profitability of the current transaction, it can also close at a loss (who knows, but I hope not!))). The same pattern works on the esm0 market
Unfortunately, the profit is calculated only in absolute terms (entry price - exit price = profit). In fact, 1 step of the price for esm0 costs $12.5, and therefore the actual profit is not $37, but $1850. These are just initial examples so that you can have an idea of what I am doing. In future articles, I will talk about the analysis methods that I have already used. If you have any questions, write me, I'm always glad to talk!!
submitted by SwipeWallet to Swipe_io [link] [comments]
Swipe opened the month of August with the launch of its Swipe Network Staking and its announcement to run a Decentralized Finance Lending/Earn application on Binance Smart Chain. This was also followed by the plan to release product updates, events, listings, or partnerships every week until the end of 2020.
Bringing their promise and commitment true to the public, here are the activities that Swipe has released for the past two weeks:
Swipe Launches Staking/DeFi
Swipe has recently launched its test network for Swipe Network Testnet Staking and, at the same time, announced its plans to launch a Decentralized Finance Lending/Earn application on Binance Smart Chain.
With the launch of the Swipe Network testnet, users can use the Swipe Faucet to grab testnet-SXP to use on the decentralized finance application. Users will be able to bond SXP to the Swipe Network smart contract as collateral to ensure the guarantee of conversions for these exchanges. A reserve system in place to lock SXP and guarantee that the merchant and payment networks receive the exact fiat amount is in place as Swipe facilitates real-time conversions on-demand.
Users will receive up 12% APY on their staked SXP within the Swipe Network off-chain and a variable rate for on-chain. Swipe plans to enable staked SXP to earn the processing fees it charges in the future as well on top of the collateral rewards from staking.
Also, Swipe revealed its plans to launch a DeFi App on Binance Chain called SwipeFi, which will enable Binance Chain tokens to be used to earn interest on their supply of collateral to the protocol and borrow against their collateral directly on the Binance blockchain.
Swipe (SXP) Trading Competition
Last August 5 to 12, Swipe and Binance team have both committed a total of 100,000 SXP and 50,000 USDT in prizes to thank its users worldwide for their continued support and to also celebrate the Swipe acquisition and SXP/USDT listing in Futures, Margin and Spot markets. The contest was divided into three categories: a new user exclusive rewards, a trading competition, and the Lucky 99, which awarded users ranked 99th, 199th, 299th, 399th, and so forth until the 9999th place of the top 10,000 SXP traders based on their trading volume.
Swipe x WBTC
Swipe has partnered with WBTC Network and has officially been approved as a merchant for WBTC minting through the WBTC Network’s DAO Governance process. Swipe Wallet users will be able to benefit from instantly wrapping Bitcoin BTC to Wrapped Bitcoin (WBTC) and vice versa with just a few clicks. Swipe has also listed WBTC on the Swipe Wallet platform and Swipe Visa Card to enable users to buy, sell, exchange, and spend WBTC at over 60 million merchants worldwide.
SXP on CoinDCX
SXP, the native token of Swipe, is now listed and live on its second Indian Exchange CoinDCX. Trading for $SXP token is now live for CoinDCX users who wish to trade SXP/BTC and SXP/USDT.
CoinDCX trading links for SXP:
https://coindcx.com/trade/SXPBTC & https://coindcx.com/trade/SXPUSDT
Wazirx AMA Session
Swipe Chief Executive Officer (CEO) Joselito Lizarondo, held an AMA session with the Telegram community of Wazirx, a bitcoin exchange in India, last August 7. In the AMA session, Lizarondo answered questions about Swipe, Swipe Card, its new partnership with Binance, and the recent projects that the company has announced. The community also asked if Swipe is planning to bring its card services to India as it is one of the biggest crypto market countries at present.
To read the whole summary of the AMA visit:
New Swipe Product Manual
Swipe has released a new “redefined” white paper under the title: Swipe Product Manual. The Swipe Product Manual was designed with simplicity in mind for easy and coherent descriptions of the Swipe ecosystem of products. This will describe all of Swipe’s current and future products that the team has planned. Technical descriptions and documentation will be made available, as required, per protocol, as some will have API access for developers.
The Swipe Product Manual can be viewed by clicking here or by going to https://sw.pe/ProductManual or downloading https://swipe.io/ProductManual.pdf to your desktop.
Swipe 0% Fees
Starting Monday, August 17, Swipe Wallet and Swipe Card users will no longer have to pay any fees to buy, sell, and pay with crypto. Users can now purchase, sell, and convert cryptocurrencies to and from fiat currencies without the previous 1% fee. Swipe cardholders will also enjoy waived membership fees and free card shipping.
As Swipe prepares to launch the Swipe Network Staking mainnet, the Swipe Wallet application will support SXP staking. Users will enjoy staking rewards based on their SXP balances that are held on the Swipe Wallet beginning on August 23, 00:00 UTC.
More details of the staking can be viewed at:
Swipe Reddit AMA
In his first blog post on Medium, Swipe CEO Joselito Lizarondo answered the questions that the Reddit community asked regarding Swipe’s activities and plans for the future. He talked about the new partnership programs of Swipe, its newly released “Product Manual,” and the new roadmap, which will be kept in stealth “to focus on bringing maximum value to these announcements and products.”
Read the whole transcript of Joselito Lizarondo’s AMA here:
Swipe and Kava Partnership
Swipe has formed a strategic partnership with Kava Labs to further grow the USDX DeFi Ecosystem as Swipe prepares to bring decentralized finance applications to the Binance Smart Chain. Swipe has also listed KAVA and USDX on the Swipe Wallet platform where users can buy and sell KAVA and USDX with a linked bank account or credit/debit card as well as enabled it to be converted and spent at over 60 million merchants worldwide with the Swipe Visa Card.
$16M+ Ecosystem Rewards Program for BNB Holders on Binance
Swipe is launching a 12-week-period $16,000,000 Ecosystem Rewards Program for BNB holders, starting August 17. This program aims to continue to promote the usage of Swipe products, including the Swipe Network Staking and Governance within a strong community. With Swipe’s partnership with Binance, a weekly distribution of 333,333.33 SXP will run to BNB holders on Binance.com.
Know more about the Rewards Program here:
Swipe’s Chainlink Based Price Oracles Now Live
Swipe has collaborated with Chainlink, the market-leading decentralized oracle network, to launch a live SXP-USD price oracle on the Ethereum mainnet. By switching to Chainlink, users receive stronger guarantees around trust and transparency in the payments process, as critical price feeds for the network are now completely decentralized and available to monitor on the blockchain.
This decentralized infrastructure ensures that reward issuances and token burns only take place based on accurate, highly available, and tamper-proof on-chain prices that have no single point of failure or absolute truth. Users can independently verify the current price, how price updates occur, which nodes are providing data to the network, and more. This means users no longer need to rely on Swipe to produce fair conversion rates.
Stay up-to-date with all the latest news from Swipe
Telegram: https://t.me/SwipeWallet & https://t.me/Swipe
\This post has been written by Hedgehog, an MCS influencer and one of Korea's famous cryptocurrency key opinion leaders.*submitted by MyCoinStory to MyCoinStory [link] [comments]
Greetings from MCS, the derivatives trading platform where traders ALWAYS come first.
As a cryptocurrency perpetual contract trader, you may have seen the index price and the mark price at least once while trading. It seems that many traders are confused about the differences between the index price and the mark price, so I will explain these two prices and the dual price mechanism used in perpetual contracts.
🎯 What is the Dual Price Mechanism?The dual price mechanism consists of the mark price and the last traded price. This mechanism protects traders from damages caused by market manipulation, lack of liquidity, or differences in spot prices and futures prices. It also provides a fair trading environment for all traders on MCS, and is used to minimize the price gap between spot prices and the perpetual contract prices.
In order to fully understand the concept of mark price, you first need to know the concept of index price.
🎯 Index PriceYou can think of the index price as a spot price. The MCS cryptocurrency derivatives exchange refers to a total of 7 exchanges to calculate the BTC/USDT index price, and the exchanges are Binance, Bitfinex, Huobi Global, OKEX, Bittrex Global, HitBTC, and Poloniex. So basically, the index price of the MCS BTC/USDT perpetual contract is the average price of the same cryptocurrency pair's prices on the aforementioned 7 global exchanges.
🎯 Mark PriceThe mark price is the price reflecting the status at-the-moment of the MCS exchange to the index price. The mark price is also known as the fair price in some exchanges. The formula for calculating the mark price is "Index Price * (1 + Funding Basis)", and the formula for calculating the funding basis is "Current Funding Ratio * Time Remaining Until Funding Settlement / Funding Interval". Since the calculated mark price represents a more accurate perpetual contract price, the MCS cryptocurrency derivatives exchange uses this mark price as a measure to trigger the liquidation.
🎯 Last Traded PriceThe last traded price is the market price of a pair (like BTC/USDT) on the MCS exchange. In short, it refers to the most recent price of the actual trade on MCS.
If you have understood the concepts of each of the above terms, this question will pop up in your head: "so, why do we need a dual pricing mechanism?" Let me answer that question with an example.
🎯 Why Use The Dual Price Mechanism[Example]
The mark price and the last traded price are at similar levels of 10,000 USDT and 10,001 USDT, respectively. At this time, Bob wants to enter a short position with 100x leverage using his entire Bitcoin inventory on MCS. At that moment, the last traded price suddenly drops to 5,000 USDT causing the rapid fluctuation in price. Nevertheless, the mark price remains at 10,000 USDT.
In this situation, if the last traded price was used as a measure of liquidation, most of the long-positions with leverage would have been liquidated. Therefore, in order to prevent unfair liquidation like the case above, MCS applies the dual price mechanism.
I am a Bitcoin margin trader, Hedgehog. Thank you for reading this post.
🔸 MCS Official Website : https://mycoinstory.com
🔸 MCS Telegram : https://t.me/mycoinstory_en
Traders ALWAYS come first on MCS.
MCS Official Twitter (EN): https://twitter.com/mycoinstory_mcs
MCS Official Facebook: https://www.facebook.com/MyCoinStory.official
Table 1: Days LeadOut of 1334 days in the analysis, Bitmex futures leads the discovery in 571 days or nearly 43% of the duration. Bitfinex leads for 501 days. Bitfinex's high number is due to its extreme dominance in the early days.
Table 2: Correlation between the close price and Exchange's dominance indexBinance, Huobi, CME, and OkCoin had the most significant correlation with the close price. Bitmex, Coinbase, Bitfinex, and Bitstamp's dominance were negatively correlated. This was very interesting. To know more, I captured a yearwise correlation.
submitted by JuanJuanChan to defi [link] [comments]
How popular is DeFi?
Link, known as the leader of the oracle machine, has increased by 305.19% for the past three months, with an investment return of 17,052%, climbing to the fifth spot in the cryptocurrency ranking list by market value in the short term;
Since its issuance, YFI, which has soared 350 times all the way, has attracted 630 million US dollars of investment in 5 days, and was even dubbed the next Bitcoin in this circle;
From Comp for lending, KNC and BAL, governance tokens for decentralized exchanges, to SNX which is a stable currency payment network, various governance tokens of the DeFi ecosystem have emerged in an endless stream, stirring the blood in the market.
Such a boom is not only reflected in the currency price, but also pushes the brand new DEX based on the AMM (automated market making) model an overnight hit. UniSwap, known as the next-generation casino, has surpassed the world's first-tier centralized exchanges such as Binance, OKex, and Huobi in user activity, daily trading volume, and daily turnover.
With the rapid rise of UniSwap, the DEX threat theory has once again triggered heated discussions among the media and communities in the blockchain industry.
DEX on the Rise
The success of UniSwap is by no means something accidental. As early as 2018 when centralized exchanges suffered the hacker theft one after another, Vitalik Buterin, founder of Ethereum, predicted that the future lay in decentralized exchanges and that Ethereum, by developing a "better" decentralized platform, could empower the cryptocurrency community to regain the dominance from the centralized cryptocurrency exchange.
To realize the decentralized concept of returning to users their asset ownership, geeks in the blockchain industry have made many attempts.
Kyber Network, Bancor, Balancer, 0X, Curvefi, etc. are all DEXs based on Ethereum blocks. For a long time, affected by the performance of Ethereum and cross-chain issues, these DEXs were once stagnant.
With the lessons learned from Ethereum DEX, newcomers to the DEX have focused on high performance, high TPS, and rich assets as the ultimate goal for product development.
Amid the DEX threat theory, major exchanges have deployed their own public chain DEX products in a response to their respective development strategies: Binance launched Binance DEX on its Binance Chain, and Bittrex Exchange unveiled Ethfinex on the Ethereum and EOSfinex on the EOS blockchain, two platforms where users can exchange for fiat currencies; last year, CoinEx officially launched CoinEx Chain, a public chain dedicated to decentralized transactions, followed by CoinEx DEX.
Since the birth of the DEX in the blockchain world, this field has never run out of competition.
By independent development or other’s advantage?
From 2017 when it was established to 2019 as it stabilized, DEX has witnessed its annual trading volume skyrocketing from less than US$5 million to over US$2.5 billion. As DeFi gains fame and grows rapidly, DEX has grown into the most popular source of money, attracting a flood of speculators. In the past month, the trading volume of the global cryptocurrency market DEX has exceeded US$ 4 billion, more than twice the figure across 2019.
In the past two years, despite the increasingly in-depth exploration in the DEX, the cross-chain issue remains a stumbling block in its development path. DEX will not outperform CEX in the trading experience until a cross-chain solution is worked out.
The concept of DeFi went viral in 2019. With the continuous improvement of the DeFi ecosystem, the current Ethereum blockchain has developed into a complete decentralized financial system, covering mortgage lending, interest from deposit, leveraged trading, token exchange, identity authentication, and other infrastructure essential to traditional financial systems.
In addition to the mouth-watering profit, the DeFi ecosystem has also brought along explosive growth in both the type and quantity of digital assets, making DEX a market favorite. Compared with the DEX dedicated to public chains, the Ethereum-based DEX has been equipped with more possible functions and thus become more attractive thanks to the comprehensive supplementary infrastructure on Ethereum.
This also presents DEX pioneers with new opportunities. Dubbed “Swap’s summer”, the summer of 2020 has seen a market rush in Swap development after UniSwap became a hit.
Miniswap, Justswap, and btswap are no more innovative than UniSwap according to their product structures and white papers.
By comparison, OneSwap has injected unique essence into its product design and governance model based on UniSwap's automated market making.
OneSwap, which has a double mining model + order book, has received an investment of tens of millions from CoinEx even before the product is launched. It is known that OneSwap is jointly developed by a group of technology geeks who have engaged in the cryptocurrency community for many years. The project was initiated by a member of the team in an attempt to upgrade UniSwap after he experienced the convenient AMM enabled by UniSwap.
Without limit orders, users have to trade in the price set by the platform, which, however, compromised their experience. In addition, the lack of liquidity mining and transaction mining rewards cannot reduce the losses of liquidity providers caused by unilateral market conditions.
"DEX still has much room for perfection, and could even surpass CEX in trading experience"
The OneSwap development team always believes that UniSwap still has a long way to go before it becomes the strongest DEX in the DeFi ecosystem. They have endeavored to, relying on their abundant experience in exchange product development and digital currency trading, create the most powerful DEX product in the DeFi ecosystem based on smart contracts.
OneSwap is called the “upgraded UniSwap” in the community. By the combination of the Constant Product Market Maker (CPMM) model in the Uniswap project and the on-chain order book, it reduces restrictions on users’ trading, and, through its OneSwap Wallet, improves user interaction methods and further enhances their experience in trading and product usage.
OneSwap boasts one-click token issuance and listing essential to DEX. Unlike the listing review mechanism on Binance DEX, the setting of OneSwap is more consistent with the concept of decentralization. Anyone can put his or her good projects and ideas, if any, into practice through OneSwap without permission.
In terms of product design, OneSwap will add to its function menu the Candlestick chart, order form, and depth chart according to user habits, apart from limit orders. These functions will offer OneSwap users an experience as smooth, easy-to-use, and convenient as in the CEX.
A new source of money? A two-pronged platform with transaction mining + liquidity mining
To support on-chain governance, OneSwap will issue a ERC20 governance token called ONES. The total number of ONES remains constant at 100 million, 50% of which will be used as community funds to support the construction of the OneSwap ecosystem and 50% will be owned by the OneSwap team. Community funds can be applied for through on-chain governance. 5% of the part held by the team will be unlocked initially, and the rest will be unlocked at a rate of 5% every six months until all is unlocked after four and a half years.
After the OneSwap product was launched, the OneSwap team will take part of the initially unlocked tokens as airdrop rewards for the open beta. Then OneSwap will officially start liquidity mining and transaction mining, and the governance token ONES will also be simultaneously launched on centralized trading platforms across the world. The first round of mining activities will last for one month, and mining rewards are yet to be made public.
Liquidity mining is a popular way of obtaining governance tokens in the DeFi ecosystem. Well-known DeFi projects including COMP, Cure, and Banner have all enabled liquid mining.
Transaction mining could date back to 2018 when Fcoin grew popular.
The transaction mining model initiated by Fcoin in 2018 once set off a bull market that year, pushing many investors into financial freedom in the rush of transaction mining. In addition, transaction mining based on the DeFi ecosystem is still a blue ocean, which is not common in the current market. The success of OneSwap's double mining model, if possible, would surely start a craze in the cryptocurrency market.
The OneSwap team has not yet announced specific mining rules, but disclosed that it has developed the smart contract code. To ensure the product security, OneSwap will invite three well-known security agencies in the blockchain industry to audit the code and announce the auditing results in early September at the soonest.
DeFi did not rise to fame without reason in 2020. Such overnight popularity is an inevitable result of Ethereum's efforts to build a decentralized consensus mechanism and improve infrastructure in the past few years. Ethereum has almost become the only public chain in the DeFi circle and the only construction base for well-known DEX. If OneSwap succeeds, it means a huge breakthrough for both DeFi and Ethereum, and decentralization in its true sense is around the corner.
Leveraged Tokens (LT) will eliminate this trade-off and allow users to safely use leverage without having to worry about liquidation risks and save effort when managing a leveraged investment position.submitted by vakafxofficial to u/vakafxofficial [link] [comments]
Although LT in the past time is widely known for its advantages, it is also extremely controversial and causes misunderstanding from users. Compared to traditional leveraged margin products, LT has much less profitability in the long term.
Despite these shortcomings, LT still receives a lot of attention from global users. So, Binance took action to fix the problems of existing tokens and launched Binance Variable Leveraged Tokens (BLVT).
What is Binance Variable Leveraged Tokens?
Binance Variable Leverage Tokens (BLVTs) - Binance Mobile Leverage Tokens - are designed to overcome the limitations users often encounter in traditional leveraged tokens. Unlike the existing LTs, BLVT does not maintain a “fixed” level of leverage. Instead, BLVT uses a mobile lever frame that ranges from 1.5x to 3x.
It can be traded on the Binance spot market and derives its value from the Binance Futures non-term BTC contract. Currently, there are two types of BLVT: BTCUP and BTCDOWN.
More details visit here: https://vakafx.com/detail/the-ultimate-guide-to-Binance-leveraged-tokens
submitted by Crypto_Browser to CryptoBrowser_EN [link] [comments]
Despite The Drop, The Derivatives Market Share Has Increased, Accounting For 37% Of The Entire Market In June
The crypto market has been going sideways lately. There has been a lowered volatility levels, which forced market traders to hold their asset and expect certain price surges. In turn, this led to an increased consolidation of the crypto trading sector.
Bitcoin, for example, remained under the $9,300 resistance line. BTC's strong influence on altcoins dictated the price changes across the sector, and very restricted movements have been observed throughout the last month.
The sideways trend in June negatively affected spot trading volumes by a 49.3% drop to $642.6. The spot trading volume decrease also reflected on the derivatives market, as derivatives trading volumes dropped by 35.7 percent to $393 billion, which marks the lowest month for this year.
Source: BitMex research
Despite the recent volume drops, the derivatives market managed to gain five percent in total market share to 37% in June, as opposed to 32% in May. BitMEX recorded the largest trading volume drops, with little over 50%. Other crypto exchanges like OKEx, Binance, and Huobi also reported negative derivatives performance, showing decreases of 30.4%, 34,2%, and 38,3%, respectively.
Source: BitMex research
The CME exchange reported a 41% increase in options contracts, with a peak of 8,444 traded contracts. Despite the near all-time-high, CME still reported a 23% decrease in futures trading volumes, with a score of 128,258 in June.
The derivatives trading volumes drop is primarily caused by low-tier and high-tier trading suspension, caused by the financial bloodbath from March and the recent COVID-19 virus outbreak. According to the app comparison website Alternative.ME and its “Crypto Fear and Greed index”, the overall sentiment in the crypto market is fearful, with a monthly fear index average of 40. The index suggests that the current cautious trend would continue in July, which may further impact the derivatives realm.
Established in 2018, MXC has become a one-stop service provider. It is now able to provide users spot, margin, contract, leveraged ETF, Index Products, Contract, PoS Staking, OTC services.submitted by SimonZhu666 to MXCexchange [link] [comments]
It emerges as one of the fastest growing exchanges in the world. In 2019, the daily trading volume of MXC took 5% of the world’s digital market. Besides, leveraged ETF products on MXC took lion share in the world of the same kind of products based on data from CryptoRank. On top of that, It obtained regulation-compliance licenses in many countries, like U.S., Canada, Australia, etc. and is able to carry out digital asset service in these countries.
In the aspect of OTC trading, MXC established partnership with Simplex, a European regulation-compliance payment company, and Banxa, a legal payment company in South-east Asia, allowing users to use Visa and Mastercard to buy cryptocurrencies, like BTC, ETH, etc. directly.
In the aspect of spot trading, MXC now support over 200 trading pairs. In addition to the top market cap coins and token, it has listed many high-quality DeFi projects, like COMP, MKR, SNX, KNC, LEND, REN, BNT, IDEX, SWTH, OKS, RUNE, KAVA, BAL, UMA, etc. as well as projects of Polkadot ecosystem, like KSM, EDG, PCX, RING, etc.
In the aspect of margin trading, MXC supports the largest number of margin pairs among all exchanges across the globe, with 2 – 10x leverage available. The automatic loan and repayment functions are available. With the coming of the upgraded margin system, the depth, price difference, loan efficiency and matching efficiency have greatly updated.
In the aspect of leveraged ETF, MXC, learned from traditional financial products, introduced in re-balance system, so there’s no liquidation risks in buying leveraged ETF products. Leveraged ETF tracks the changes of the underlying assets with 3x leverage. “3L” products refer to 3x long, while “3S” products 3x short. Now it 3x leverage for 29 cryptocurrencies, including BTC, BCH, BSV, DASH, ZEC, ATOM, XTZ, ALGO, etc.
In the extreme market on March 12, 2020, BTC plummeted a high of 52.36% and the ordinary 3x leverage products for BTC plunged by 157.08%. However, with the re-balance system, the BTC3L product on MXC decreased by 92.96%, lower than the ordinary 3x leverage products and protect the interest of users in some extent. Furthermore, in the following market, the BTC3L product rose by 236%, higher than the 167.41% of ordinary 3x leverage product.
The leveraged ETF once became the label of MXC, "Huobi's OTC, OKex’s contract, MXC’s ETF and Binance's spot." The popularity of leveraged ETFs has attracted many exchanges to follow suit.
In terms of index products, MXC officially launched index products under the ETF zone, including decentralized storage asset index, mainstream cryptocurrency index, DeFi asset index, public chain index, 2020 halving cryptocurrency index.
MXC index products are similar to traditional financial fund products, and each index product is composed of multiple constituent cryptocurrencies. According to the announcement, the MXC Index product will be adjusted according to the average daily turnover ratio of the previous 30 days, that is, the proportion of the component cryptocurrency will be adjusted. If the target does not meet the representativeness and investability, the index may be removed from the product.
Decentralized storage combination components are STORJ, LAMB, GNX, BLZ; mainstream currency combination, components are BTC, ETH, LTC, EOS, ETC, BCH, BSV, XRP; DeFi asset components are KNC, ZRX, KAVA, NEST; Public chain combination, the components are TRX, VET, NEO, QTUM, BTM, ONT, IOST; halving index components are BTC, ETC, BCH, BSV, ZEC, DASH.
Index products can help users not miss the bull market. Any one of the constituent cryptocurrencies increase, the user can make gains. Secondly, it can help avoid the risk of a single cryptocurrency’s plunging. In addition, it can also help save investment time and improve investment efficiency.
In terms of contract transactions, MXC upgraded the contract trading system and launched a new version of the contract in June this year. MXC contract trading currently supports free adjustment of 1-100x leverage multiples. In the isolated margin mode, users can still adjust the leverage multiples after opening a position, and support isolated margin conversion to cross margin, which can help users pursue the market with all their strength.
It supports users to place stop profit and stop loss orders at the same time, while occupying only one margin. It supports Post Only (Maker only) and IOC (Immediately or cancel all) strategies. Under Post Only (Maker only), the user will not immediately place an order on the market when placing an order, to ensure that the order is always Maker (pending order), saving handling fees. IOC function, that is, if the order cannot be fully executed, the rest will be cancelled.
For example, the BTC price index of MXC selects the bitcoin spot prices of 6 exchanges, namely: Coinbase, Bitstamp, Binance, Huobi, OKEx, Bitfinex. If the spot price of an exchange deviates from the median of all exchanges by ±3%, the spot price of the exchange is calculated according to the median of ±3%. Use reasonable prices for liquidation, which are based on index prices.
In addition, underlined proper nouns on the webpage, as long as the mouse points up, the corresponding explanation will be displayed, which is convenient for users to understand.
In terms of PoS pools, MXC supports three types of PoS: Saving, Staking and Lending. Among them, PoS saving does not need to lock assets, and holding assets can obtain income.
Bitcoin options are breaking records, and exchanges are competing for this segment. We will tell you what these tools are and how they worksubmitted by Smart_Smell to Robopay [link] [comments]
The cryptocurrency market is constantly evolving, integrating with the traditional and inheriting complex financial products such as futures and options.
Some types of fixed-term contracts are already firmly established in the bitcoin industry. This is noticeable by the activity of traders on the CME.
However, the situation with options is somewhat different. These derivatives are difficult to understand among ordinary market participants and are not yet so popular.
Nevertheless, there is a demand for such tools, as evidenced by the growth dynamics of this market segment and interest from platforms such as Binance and Bitfinex.
Bitcoin options have already been offered on CME, LedgerX and Bakkt, which are regulated and oriented primarily on whales. Among the unregulated sites, the leader is Deribit, followed by FTX and OKEx.
ForkLog magazine figured out what options are and what types of options are. We will talk about the features of these tools and the current state of affairs in the segment. In this article you will also find comments by leading market experts on the role of options in the industry.
What are options and how do they work?An option is a financial contract concluded between two parties — the holder and the seller. The first receives the right, but not the obligation, to buy or sell a certain amount of the underlying asset at the strike price (strike price) on a specific date (expiration date).
The seller undertakes to buy or sell the asset at the request of the option holder. The latter pays the seller at the time of purchase of the contract a certain amount of money — the so-called premium.
The rights and obligations of the holder and seller differ significantly. The former has the right to choose whether to exercise the option or not. The seller is obliged to fulfill the terms of the contract at the request of the holder.
Parameters such as the type of underlying asset, expiration date, strike price are fixed at the time of issue of the contract, after which they cannot be changed.
Like futures, options are derivative financial instruments and derivatives. This means that they can be based on various underlying assets (BA) — stocks, indices or cryptocurrencies.
“Like the options already existing in traditional finance for all major assets, there are contracts based on BTC and ETH on the cryptocurrency market. They are very interesting financial products“, said Su Zhu, head of Three Arrows Capital, in a conversation with ForkLog.
Options are used both for hedging risks and for speculative trading. For example, a speculator confident in the growth of the underlying asset buys a call option. If the BA price rises above the strike, the trader can use his contract to buy a discounted asset.
“Derivatives such as options allow users to hedge risks and generate revenue. Derivatives play a key role in the traditional financial market. These tools are needed so that the cryptocurrency market continues to grow and develop, being filled with new participants“, said Aaron Gong, vice president of Binance Futures.
Practical use of optionsConsider the simplest example of options hedging. Suppose there is a company manufacturing tomato paste, sauces and ketchups. There is a farmer supplying this company with tomatoes. He acts in conditions of fierce competition, close to perfect.
It is extremely important for a company to buy raw materials cheaper to minimize production costs and remain profitable. The farmer, in turn, hopes for a long-term cooperation with the company so as not to lose a major client.
The company offers the farmer an option, assuming the right to buy 10 tons of tomatoes of the next year’s crop at the current price — say, $1,000 per ton. To exercise this right, the company pays the farmer an option premium of 3% of the total transaction amount of $10,000, that is, $300.
The farmer will have to, at the request of the company, sell the appropriate quantity of goods at the above price and at a specified time.
A year later, the crop was high, which led to a decrease in the market value of tomatoes to $800 per ton. The company decides not to exercise its right to purchase raw materials for $10,000, as other farmers can buy the same 10 tons of tomatoes for only $8,000.
Thus, having lost only $300 as a premium on an option, the company is insured against price risk. Buying raw materials at a significantly lower market price is more than worth the price of the option contract.
Let’s imagine another scenario: the crop turned out to be unimportant and the price of scarce tomatoes jumped to $1200 per ton. Then the company will certainly take advantage of the right to purchase tomatoes for $1000. Thus, the result is any case.
It is easy to guess that the options can be used by miners to hedge the risks of adverse changes in the price of the extracted asset. For example, expecting a decrease in the price of BTC, miners can use options that give them the right to sell cryptocurrency in the future at a price higher than the breakeven point.
“Miners are already very active in options markets. And, probably, they will remain active“, Su Zhu said.
Su Zhu is confident that in the long term, options will make the cryptocurrency spot market more liquid and attractive to a wide range of participants. He added that the growing popularity of such contracts among miners could significantly reduce sales pressure.
“Options give miners the opportunity to fix the price of coins mined in the future. Miners can better manage their production costs and protect themselves from market volatility“, said Aaron Gong, expressing confidence that the popularity of options will continue to grow.
According to him, such tools open up new opportunities and may be of interest to speculators, funds and long-term cryptocurrency holders.
“Institutional investors are also showing growing interest in options and other derivatives. Last week it was reported that the famous Wall Street trader Paul Tudor Jones allocated a few percent from his Tudor BVI fund for bitcoin futures. This is a positive signal, which means that more and more institutions are interested in the cryptocurrency market“, Gong added.
However, option strategies are not suitable for every market participant — effective work with these tools requires certain experience, Co-founder of CoinIndex.agency Julia Sporysh is sure:
“Of course, in order to use this effectively, the miner must have an experienced trader (option strategies are some of the most difficult on the market) — or they will have to unite and work through specialized trading companies. This market exists, although it is not for the general public.”
Also, according to her, options may be of interest to funds and retail traders who have gained a hand in speculative trading.
“Options are an independent and good speculative tool. And if you have positions in futures or in the spot market, it’s just the time to explore new opportunities“, added Yulia Sporysh.
Types of optionsThere are two main types of options — option call and option put. The first gives the right to the contract holder to purchase a certain amount of the underlying asset from the seller (they also say — the inscription) at the strike price on a certain date in the future. This type of option was used in the tomato example.
The put option, on the contrary, gives the buyer of the contract the right to sell the underlying asset at a fixed price. The latter may be higher than the market at the time of expiration, which is beneficial to the trader.
Market participants use the call, predicting an increase in the price of BA, and put — expecting it to decline.
More complex strategies use combinations of these two types of contracts.
There is also the term “covered option”. For example, an option call is covered if the seller has the amount of the underlying asset corresponding to the terms of the contract.
Options may also differ in the style of execution — American or European.
European-style options require the holder to execute the contract exclusively on the expiration date. Such options, in particular, are presented at CME and Bakkt.
American style implies the possibility of contract execution at any time prior to the date of expiration. Options of both styles are traded all over the world, their names have no relation to geographic location.
There are less standardized, exotic options. However, the popularity and importance of such instruments in the financial market is not so great.
Parameters and conditions for trading certain options are described in the specifications for them, which indicate the expiration date, strike price and other elements of the contract.
Premium, strike price and cash optionThe option premium is the amount of money paid by the buyer to the seller. The premium is equal to the value of the contract and, in fact, represents a fee for the risk of adverse changes in the value of the underlying asset.
The option premium is formed by two components:
• Intrinsic value — the amount that the buyer would receive if the contract were currently executed. It depends on the ratio of the price of the underlying asset and the strike.
• Time value — depends on the time remaining until expiration. Usually, the less time it takes to execute a contract, the lower the premium.
As a rule, high price volatility contributes to premium growth, and vice versa. A deal with a close strike price in relation to the current one has much greater chances of closing in profit and, therefore, the premium for such an option will be relatively high.
The strike price is the price fixed in the option at which the buyer of the call option can buy (or sell, if this is a put option) the underlying asset. In turn, the seller of the contract is obliged to sell or buy BA.
Money is an indicator of the ability to receive funds from the exercise of the right to exercise a derivative. In the context of options, cash can be calculated by comparing the spot price of the BA and the strike price of the option. Thus, three options are possible:
• “in the money” option: in the case of a call — if the spot price is higher than the strike (then the intrinsic value of the contract is positive), in the case of a put, on the contrary, if the BA price is lower than the strike;
• option “on money” (or “with one’s own”) — equal strike to current stock quotes, intrinsic value equal to 0;
• the option “out of money” (“without money”) — the exercise of the option is not economically feasible; in such a situation, the current price of the underlying asset is lower than the strike price of the call option or, conversely, the spot price of the BA is higher than the strike price in the case of a put.
Option strategiesThere are many option trading strategies. Four basic approaches can be distinguished.
Long call — buying a call option, the investor expects an increase in the price of the underlying asset above the strike on the expiration date of the contract. Then he will be able to buy an asset at a discount to the market price and thus earn on the difference. If the price drops below the strike, the buyer risks only the premium paid for the option.
Long put — is a kind of alternative to a short position in the spot market. The buyer of the put option hopes to make money, assuming that the price of the BA falls below the strike at the time of expiration. In this scenario, the investor may sell the asset at a higher price than the market price.
Also, through a put option, an investor can limit the risk of a fall in the price of an asset that has a long position open. According to Su Zhu, miners may use the “protective put” strategy, in whose activity a substantial and prolonged drop in the price of mined cryptocurrency is undesirable. Through such tools, miners can provide profitable or even break-even activity.
Short call — the investor acts as the seller of the contract, counting on a decrease in the price of BA below the strike on the date of expiration. However, the higher the price of the asset, the more losses the inscription bears. Thus, the risk of the seller of the contract is unlimited, and the profit potential is limited by the premium on the sale of the call.
Short put — the seller of such an option expects a premium on it, being firmly convinced that the price of the BA will be higher than the strike.
Combinations of these basic strategies may underlie more sophisticated options trading approaches, such as:
• protective put — purchase of a put option for an available asset;
• covered (secured) call — an investor sells a call option to an existing BA or which will be acquired simultaneously with the sale of the option; the strategy reduces the risk of owning an asset, since a fall in its price is partially offset by a premium;
• straddle — a kind of bet on volatility, which implies the purchase of a call and put option on the same asset with the same expiration date and the same strike price;
• strangle — almost the same as straddle, differs only in different strike prices.
ConclusionsOptions are complex financial instruments, their mechanism of work is unlikely to be mastered immediately by most novice traders. Nevertheless, these derivatives may seem interesting to experienced market participants and, in particular, to miners.
The following advantages and disadvantages of options can be distinguished. Of the advantages of these contracts, we note:
- flexibility of use in speculative trading;
- the ability to use many combinations and trading strategies;
- a good tool for hedging risks;
- the ability to use in any trend — upward, downward, sideways.
- the difficulty of understanding the mechanism of work, especially for novice market participants;
- asymmetric conditions and, accordingly, risks for the buyer and seller;
- the complexity of trading strategies;
- the volatility of an option premium, which depends on the proximity of the expiration date and price dynamics in the spot market;
- low liquidity.
Different industry players have different cryptocurrency options. Some consider them promising tools useful for miners, funds, retail traders and the market as a whole. Others are convinced that such derivatives are archaism.
Nevertheless, options are gradually taking root in the cryptocurrency market. This is evident in the dynamics of trading volume and open interest. In addition, more and more exchanges are trying to add support for these contracts, which contributes to increased competition and further development of the industry.
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[Today's Hot Tips]submitted by LOEXCHANGE to u/LOEXCHANGE [link] [comments]
1. [Russian authorities do not agree to lift the Telegram ban]
According to Cointelegraph on May 28, the Ministry of Digital Development, Communications and MinComSvyaz of the Russian Federation announced on May 26 that it does not support the lifting of the ban on Telegram encrypted communication applications. According to previous reports, Russia may lift the Telegram ban due to a corona virus outbreak.
2. [there are only 1,535 BTC pull orders in the two exchanges]
During the short-term price increase of BTC, the main pull-up signs were obvious. Judging from the current capital inflow exchanges, Binance and Coinbase exchanges have large capital inflows, and are the key exchanges that drive the rise of BTC prices. At the same time, it should also be seen that BTC is currently rebounding when the transaction volume is very low. Whether there is a unilateral market depends on the price performance. The short-term pull-up occurred suddenly, and the continued strength depends on multiple factors.
3. [The number of Bitcoins held by crypto exchanges has reached a record low in 18 months]
According to Coindesk, Glassnode data showed that on Monday, the total number of bitcoins in cryptocurrency exchange wallets fell to an 18-month low, slightly above 2.3 million. This drop marks an 11% reduction in the number of bitcoins held by the exchange so far this year. In addition, during the same period, the number of Ethereum in exchange wallets increased by more than 7%. Some market participants believe that this indicates that more Bitcoin investors are turning to Ethereum.
[Today's market analysis]
Bitcoin (BTC)In the early hours of this morning, BTC rose slightly, and it briefly returned to above 9200 USDT, reaching a maximum of 9127.85 USDT. At around 5 o'clock, it quickly fell, and the lowest fell to 9052 USDT, then rebounded slightly. At present, BTC is adjusted within a narrow range around 9150 USDT. The mainstream currencies followed the consolidation, and each currency fell after a slight rise in the early morning hours. BTC is currently reported at 9181.0 USDT at LOEx Global, with a 247% increase of 0.37%.
The price of BTC is driven by liquidity tightening and bullish sentiment accompanied by a halving, which makes investors more willing to treat Bitcoin as an inflation hedging tool.
Now, according to a recent article by Messari, as Bitcoin enters the next stage of adoption, it is necessary to understand how encryption technology is related to other assets under these newly discovered macro characteristics.
In the past, market investors and traders could only express interest in Bitcoin through spot market transactions, but the current competitive environment has changed. Now companies can choose to hedge or speculate. They have the ability to trade derivatives, not potential ones, so they can express positive and negative views on Bitcoin's price action.
With the increasing participation of institutions in this field, once Bitcoin is out of the current adjustment stage, the asset may end at a higher than the annual high of $ 13,800 in 2019 by the end of the year.
Support level: the first support level is 9100 points, the second support level is 9000 integers;
Resistance level: the first resistance level is 9500 points, the second resistance level is 9800 points.
LOEx is registered in Seychelles. It is a global one-stop digital asset service platform with business distribution nodes in 20 regions around the world. It has been exempted from Seychelles and Singapore Monetary Authority (MAS) digital currency trading services. Provide services and secure encrypted digital currency trading environment for 1 million community members in 24 hours.
Bitcoin USD price, real-time (live) charts, bitcoin news and videos. Learn about BTC value, bitcoin cryptocurrency, crypto trading, and more. The Spot wallet is for the regular Binance spot trading. Binance also offers more advanced features such as margin and futures trading. After selecting Spot Wallet this is the screen you will see: From here, you can get an overview of all cryptocurrencies Binance offers, and your current balance (which is likely to be zero at this time). Binance cryptocurrency exchange - We operate the worlds biggest bitcoin exchange and altcoin crypto exchange in the world by volume About Bitcoin. Bitcoin price today is $15,507.43 USD with a 24-hour trading volume of $40,726,877,345 USD. Bitcoin is up 9.91% in the last 24 hours. The current CoinMarketCap ranking is #1, with a market cap of $287,430,180,047 USD. It has a circulating supply of 18,534,993 BTC coins and a max. supply of 21,000,000 BTC coins. The top exchanges for trading in Bitcoin are currently Binance ... Current Bitcoin Price: ... 👉 Binance Hits New All-Time High in Quarterly Spot Trading Volumes. Binance has posted a new all-time high in spot trading volume over Q3 this year. The $306.6 billion of volume was more than double the previous quarter. Futures trading volume also saw a significant increase, rising 43.5% from the previous quarter with a figure of $483 billion traded. 5 1 vote ... A futures price is based on its current spot price plus the cost of carry during the interim before ... For instance, if the spot price of Bitcoin is $10,000 and the market price of Binance Futures BTCUSD quarterly contract is $10,050, the basis will be calculated as; Spot - Futures = $10,000 - $10,050 = -50. The basis can be a positive or negative number. A positive basis relationship means ... Binance Coin Price Analysis BNB Price Binance news Opinion. Binance has masterfully engineered the BNB token to become an all-encompassing aspect in every facet of the ever-growing Binance ecosystem.
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