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Cardano Technical Analysis: ADA IS Forming An Ascending Triangle, A Breakout Could Explode Price To $2.4

Albert Brown
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Cardano Technical Analysis: ADA IS Forming An Ascending Triangle, A Breakout Could Explode Price To $2.4

Cardano has maintained an uptrend since the initial decline to $1.01 in May. The first retracement attempt almost hit $2.00, but another correction followed immediately. The cat-and-mouse game continued between bears and bulls, with resistance at $1.8 limiting the upward movement. But the bulls continued to be more assertive, making the higher low pattern on the 4-hour chart.


The upcoming smart contracts have kept investor interest on the rooftop. Notice that the horizontal resistance at $1.80 formed the x-axis of the ascending triangle. Likewise, higher lows have formed a hypotenuse, implying that the bulls are gaining momentum.

ada-usd 4 hour technical analysis

An ascending triangle is a very bullish pattern in technical analysis. Ultimately, the breakout occurs before the trend lines converge. Low volumes characterize the period of consolidation within the triangle. However, the spike in trading volume marks a breakout as bulls take advantage of the expected rise to $ 2.41.

Cardano Important Levels

Current rate: $1.75

Volatility: High

Trend: Bullish

Support: $1.60, $1.30 and $1.30

Resistance: $1.80 and $2.20

Cardano’s uptrend was confirmed by short-term bullish signals from the Moving Average Convergence Divergence (MACD) and Relative Strength Index (RSI). The former has recently returned to positive territory, while the MACD line maintains a divergence above the signal line.

Subsequently, the RSI nearly reached the overbought area, hinting at an intense bullish takeover. Thus, a break above $1.80 (the x-axis of the triangle) could catapult Cardano towards the $2.40 target.

Swedish Stock Exchange, NGM List Polkadot (DOT) ETP As An Investment Product For The First Time Ever

Jakkk
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Swedish Stock Exchange, NGM List Polkadot (DOT) ETP As An Investment Product For The First Time Ever

Valour, a company that produces digital asset-based ETPs under the umbrella of Canadian diversified financial asset management, announced that it has launched Polkadot (DOT) exchange traded product (ETP) in Sweden on the Nordic Growth Market (NGM).


About Nordic Growth Market (NGM):

“Nordic Growth Market is a regulated exchange that delivers trading, exchange technology and public company services. The exchange operates in Sweden, Finland, Denmark, and Norway and was established in 1984.”

The listing was made on May 31. The ticker is VALOUR POLKADOT (DOT) SEK.

Valour announced in May that it would list Polkadot (DOT) and Cardano (ADA) ETPs on the NGM Stock Exchange. Cardano’s ETP was listed on the NGM on May 18.

Diana Biggs, Valour’s CEO, said

“This is a particularly exciting time for the Polkadot protocol with the upcoming launch of its parachain functionality, providing increased scalability and finalizing its core build. Our launch of Valour DOT SEK is a direct response to increased demand from both retail and institutional investors for access to further innovative blockchain protocols via our ETPs.”

According to announcement, Polka Dot has landed on the Nordic market as a listed investment product for the first time ever.

Recently, investment company Osprey Funds in New York, USA, launched its DOT investment trust and started selling it to qualified investors. Furthermore, on May 19, GMO Coin, a major Japan domestic cryptocurrency exchange, announced the listing of DOT in Japan for the first time.

What is Chia Network (CHIA)-Find Answers Of All Your Questions Regarding Fast-Rising Crypto, CHIA

Mark Brennan
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What is Chia Network (CHIA)-Find Answers Of All Your Questions Regarding Fast-Rising Crypto, CHIA

This article is in question and answers and answers all of your questions related to fast-rising cryptocurrency CHIA. 

CHIA’s popularity can be seen by the fact that Nasdaq Acknowledges Chia (XCH) As An Low-Cost Altcoin With Solid Potential In 2021 in one of their articles.


What is Chia Network (CHIA)?

Chia Network (CHIA) is a blockchain platform for creating and executing smart contracts written in the Chialisp programming language.

Who Created Chia And When?

Chia’s creator is Bram Cohen, an American programmer and founder of the BitTorrent network. In August 2017, he registered the Chia Network company in San Francisco. Jean Hoffman, the company president, is the former head of Nasdaq, Mitch Edwards, the chief financial officer is the former head of Overstock.

Since March 2018, the company has raised about $ 77 million in funding through SAFE agreements. The last round for $61 million ended in May 2021. The company was supported by venture funds Andreessen Horowitz, Galaxy Investment Group, DCM Ventures, True Ventures, Richmond Global Ventures, etc. The company was valued at $500 million during the funding round.

Chia’s main net launched on March 19, 2021.

On May 3, 2021, the developers activated transactions on the network, and Chia started trading on different exchanges.

What Does The Name “Chia” Mean?

Chia is marketed as a “green” cryptocurrency because it uses energy-efficient hard drives and efficient solid-state drives in its mining process.

Emphasizing its “green” nature, the creators named the cryptocurrency the name of the chia plant (Salvia lavandulifolia). Salvia hispanica, commonly known as Chia, is a species of flowering plant in the mint family a plant native to Central America. Chia seeds have more calcium than milk. In recent years, they have gained popularity among vegetarians in the US, and the EU has officially recognized Chia as good food.

What Problems Does Chia Network Solve?

According to the Chia Network originators, Bitcoin mining is harmful to the environment and requires powerful computing resources inaccessible to most users. Chia addresses these challenges by leveraging some of the critical parameters of PoW blockchains with new technological solutions that are not harmful to the environment. Chia uses Hard Drive Space for mining CHIA instead of using ASIC, CPU/GPU mining tactics that waste power and are bad for the environment. 

How Does Chia Network Work?

The Chia blockchain uses a Proof-of-Space and Proof of elapsed time (PoET).

The concept was presented in September 2017 by Bram Cohen and other researchers in Beyond Hellman’s Time-Memory Trade-Offs with Applications to Proofs of Space.

They proposed a mining process using the computer disk space rather than its computing power. With this approach, the probability of mining a block is proportional to the amount of allocated space divided by the total network bandwidth. This method, according to the authors, is more environmentally friendly than Proof-of-Work, and more cost-effective.

The mining coins in Chia are called farming, and users who mine coins are called farmers.

Farming consists of two phases: plotting and harvesting.

Plotting

With Proof-of-Space, the user confirms that there is free space on the computer hard disk. Plotting requires a high-performance storage device – it is used as a buffer for the temporary storage of information. The smallest buffer is an SSD over 356.5 GB. It is enough to seed a plot [raft] of 108.8 GB. The plotting time for one site takes from 4 to 12 hours.

The plotting process does not require an internet connection and consists of the following phases:

  • Seeding- generation of seven tables of cryptographic hashes and storing them on a temporary disk.
  • Calculating the gradient hashes.
  • Sorting and algorithmic compression of hashes in the temporary
  • Folder and starting the creation of the final raft file.
  • Completing the creation of the raft file and transferring it to the disk raft for further harvesting.

Harvesting

During the creation of the next block, the system announces a challenge (task), and the farmer scans his site, finding a hash that is as close as possible to the task parameters. The chances of getting a block depend on the farmer’s share in the total network space.

This process is similar to a lottery – the block reward (within three years after the launch of the blockchain is 64 XCH) is received by the first 32 farmers who have provided a solution to the cryptographic problem.

The Proof-of-Time algorithm ensures the frequency of block creation and increases the security of the blockchain.

Proof of time is implemented by verification nodes, the so-called “time lords,” using the Verifiable Delay Function [VDF]. This function takes a certain amount of time to compute, but it can be tested very quickly. Verifiable latency minimizes power waste and also eliminates the opportunity to benefit from concurrent use of multiple devices.

There will probably be relatively few “time lords.” The fastest finishes first, and only one quick and fair time lord is required to complete the block and move the chain forward.

What Is Chia Programming Language?

Chia Network uses the Chialisp programming language. The first version of Chialisp was released in 2019 and received high praise from the Defi industry and developers.

Chialisp combines vital elements of the Ethereum and Solidity codebase with Bitcoin Core and Bitcoin UTXO model. This approach allows transactions to be carried out in parallel rather than sequentially.

Chialisp recognizes coin IDs. This allows clear self-addressing and eliminates the need for self-replicating programs.

According to the Chia designers, the language is efficient, flexible, and easy to audit. Chialisp is expected to enable developers to build a wide range of services on the Chia platform, including cross-border payments and stable coin issuance. Atomic swaps, multi-signature wallets, and colored coins are already available on the platform.

What Is Chia Token (XCH)?

Chia (XCH) is a Chia Network utility token that uses Bitcoin customized UTXO model to reward network members financially.

For the first three years, the block reward is 64 XCH for 32 farmers. Every three years, the award is halved. This scheme is valid for four three-year periods, after which the halving is terminated.

In the first three years, farmers will generate about 3.4 million XCH per year, the next three years – half of that, and so on.

When launching the leading network, the company created a strategic reserve of 21 million XCH. The vesting program will be implemented with the help of smart contracts.

In the future, the company plans to go public on the NYSE and NASDAQ. The shares will be used as ETFs pegged to the token price.

The governing board will control the distribution of funds among investors and users. The community will be notified of the sale of coins from the strategic reserve 90 days in advance. Company employees and contractors will not be able to receive payments in XCH tokens.

How is Chia Developing?

The development of the project entailed some problems:

Back in April 2021, before trading began, Chia farmers created a local HDD and SSD shortage in the PRC, by buying drives in bulk. 

In May 2021, Taiwanese company Phison Electronics warned of an impending increase in SSD prices due to the hype around Chia mining.

In May this year, due to increased demand for hard drives from Chia farmers, prices for high memory drives from American retailers rose by several hundred dollars.

In April 2021, the Chinese company Galax warned users that it would refuse warranty service for SSDs if used to mine Chia.

At the same time, several Chinese drives manufacturers announced the release of specialized storage devices for cryptocurrency mining. The warranty period for them will be significantly shorter than usual. Experts estimate that Chia’s farming cuts the lifespan of a 512GB SSD from five years to two months.

By the end of 2021, the company intends to conduct an initial public offering (IPO) that meets the SEC’s requirements and does not exclude the option of a merger with another firm, through special purpose acquisition company SPAC.

India Top Exchange, Wazirx Will Launch India First Non-Fungible Token (NFT) MarketPlace

Mark Brennan
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India Top Exchange, Wazirx Will Launch India First Non-Fungible Token (NFT) MarketPlace

India’s largest cryptocurrency exchange, WazirX, will launch a Non-fungibile Token (NFT) Market on Tuesday featuring exclusive work by popular photographers, artists and mixed media professionals from India and other South Asian countries.


NFT is a unique digital representation of the art form that lives on the blockchain.

While Ethereum is the world’s most popular blockchain for minting NFTs, WazirX will use the blockchain technology of its parent company, Binance.

NFS rose to fame after a series of high-profile sales this year, including Twitter co-founder Jack Dorsey of his first tweet for over $2 million and the iconic purchase of over $ 69 million of NFT artwork by Vignesh Sundarezan at Christie’s in March.

WazirX NFT Marketplace Main Points

  • Interestingly, Users can only purchase NFTs on the WazirX marketplace through the WRX platform token, which has a supply limit of one billion.
  • The platform is open to everyone who wants to buy or sell NFT
  • More than 300 creators have been whitelisted to bring their art to market.
  • It has no listing price and will charge a minimum gas charge of $1 per transactions.
  • NFTs will be interoperable and can later be ported to another blockchain (e.g. Ethereum).
  • At this time, You cannot bid for item sales, Wazirx NFT market place only allow fixed price sales.
  • Artworks for sale will be shown in two sections – Spotlight and Discover. In the “Spotlight” section, curated artists will be presented. The Discover section will consist of a list of 50 selected artists each day from a pool of over 15,000 applications received.

Like Bitcoin and other crypto, NFTs have come under the scanner worldwide due to the environmental costs associated with it. By using the WRX token on the Binance smart chain, the platform eliminates electricity costs and the cost of each transaction for minting and purchasing NFT is less than $1.

Ethereum Developers Found Vulnerability In EIP-1559

Albert Brown
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Ethereum Developers Found Vulnerability In EIP-1559

Ethereum developers have identified a vulnerability in the EIP-1559 protocol that could lead to network congestion. This was announced by Tim Beiko, a member of the Ethereum Foundation.


 

The EIP-1559, presented in 2018, involves the burning of some of the transaction fees and helps to reduce the volatility of the gas price. The protocol also allows users to “tip” miners to speed up the transaction confirmations.

Developer Martin Holst Svende found that EIP-1559 does not set a maximum limit for such payments. This would allow an attacker to enter an absurdly large number to overload the network, even if he does not pay gas fees.

Tim Beiko said:

Because the fields in 1559 are maximums, you could abuse this, not actually pay those huge gas values, and spam the network.

He further Tweeted:

 

The controversial EIP-1559 received support from developers and users, but divided miners into two camps.

Opponents of the proposal, including the SparkPool and Ethermine pools that jointly control 44.8% of the network hashrate, wanted to concentrate more than 51% of the computing power in the latter. However, their attempt failed.

EIP-1559 will be part of the London hard fork scheduled for July 2021.

Top Altcoins To Follow This Week

Mark Brennan
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Top Altcoins To Follow This Week

The Crypto market entered the new week with a market value of $1.6 trillion. Two weeks ago Cryptocurrency market that fell below 2 trillion is still facing the effects of the decline.


The prices of most altcoins are far from All-time-high levels. Such decline in Alts increased Bitcoin dominance as Btc market share, which was pulled down to 40% on May 19, rose to over 48% last week, and is currently sitting at 44%.

While it is not possible to predict which direction the market will move in the coming days, some news from Ripple, Cardano, Stellar, PancakeSwap, PAID Network, and COTI this week may be worth watching.

Ripple (XRP)

News This Week: Attorneys for Brad Garlinghouse and Chris Larsen is expected to respond to the SEC attorney appeal on June 4.

Why To Follow: The SEC has sued Ripple and the company’s founder Larsen and CEO Garlinghouse for selling unregistered securities. Garlinghouse and Larsen have applied for the dismissal of the lawsuit filed against them. At the beginning of May, the SEC filed a request to challenge this application with a 60-page document, Ripple opposed it, but the judge ruled in favor of the SEC. Garlinghouse and Larsen’s lawyers are expected to respond to the appeal this week. If Garlinghouse and Larsen’s lawyers are successful in withdrawing SEC lawsuit against them, it will be considered big success for Ripple founders and Ripple Itself. 

Cardano (ADA)

News This Week: Cardano will organize a Marlowe webinar on June 3, 2021.

Why to Follow: The IOHK Foundation unveiled a new product suite last week called Marlowe. Designed separately for developers, end-users, and businesses, Marlowe was developed to make it easier for peer-to-peer negotiation on the blockchain. Thursday’s webinar will be the first webinar for Marlowe and will discuss developments in the decentralized finance (Defi) ecosystem and what role Marlowe can play in Defi.

For More Details Visit Marlowe Webinar: https://webinar.marlowe-finance.io

Stellar (XLM)

News This Week: Stellar will be voting to switch to Protocol 17 on June 1, at 1500 UTC.

Why To Follow: Protocol 17 will bring a feature called “asset clawback” to Stellar, which can be especially useful for organizations such as market funds.

Stellar.org writes:

“Protocol 17 introduces operations that allow asset issuers to maintain tighter control over how their asset is distributed to the world. Specifically, it gives them the power to burn their asset from a trustline or claimable balance, effectively removing it from the recipient’s balance sheet:

The amount of the asset clawed back is burned and is not sent to any other address. The issuer may reissue the asset to the same account or to another account if the intent of the clawback is to move the asset to another account.

This allows for things like regulatory enforcement, safety and control over certain assets, etc. You can refer to CAP-35 for more motivations or technical details behind these new features.”

Read more about protocol 17 Upgrade: https://www.stellar.org/developers-blog/protocol-17-upgrade-guide

PancakeSwap (CAKE)

News This Week: PancakeSwap will add the transaction fees collected in the last week IFO to today’s token burn.

Why To Follow: PancakeSwap held an IFO for Kalmar on May 27, with more than 160,000 individual wallets participating. People were able to stake CAKE and BNB before IFO and use their liquidity pool (LP) tokens during IFO. After the IFO is over, PancakeSwap splits the paid CAKE-BNB LP tokens into parts, uses BNB to buy CAKE from the market, and adds the CAKE it receives to the number of tokens it will burn weekly. The Cake token burning is expected to happen today.

 

PAID Network (PAID)

News This Week: Cryption Network will launch its first Initial Dex offering (IDO) on the Ignition platform on June 8.

Why To Follow: IDO will be held next week, but the registration process (whitelist) to join IDO started on May 29 and will continue until June 1. Investors whose addresses are chosen in a draw will be able to buy CNT at a specific price next week.

Read More About Cryption Network IDO: https://paidnetwork.com/cryption-ido-on-ignition/

Coti (COTI)

News This Week: With the update coming on June 1, a new node called NightShade will be added to COTI main network.

Why To Follow: Night Shade has been running on COTI’s test network since 2018. With the addition of NightShade to the mainnet, the total number of nodes in the network will increase to 20. The total staking volume will increase to 129 million COTI.

Read More About COTI NightShade Node: https://medium.com/cotinetwork/meet-the-nightshade-node-the-new-coti-community-node-5d4b9b583bd5

BONUS:

“The biggest Bitcoin event in history”

Bitcoin 2021, the most prominent Bitcoin event ever, will be held on June 4-5. The event will feature names such as Jack Dorsey, Michael Saylor, Cynthia Lummis, Tony Hawk and will be held in Miami with the sponsorship of Binance US, FTX, Crypto.com, Swipe OKCoin, and many more.

FTX Exchange Review-Top Rated Crypto Derivative Exchange

Mark Brennan
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FTX Exchange Review-Top Rated Crypto Derivative Exchange

Novel innovations are seen every day in the world of crypto. From forward-looking currencies to progressive derivate platforms and exchanges, the crypto market is constantly changing. In today’s article, we will review a crypto derivatives exchange that goes by the name of FTX Exchange. Despite being new in the market, the platform has created quite a name for itself.

Introduction:

If you closely follow cryptocurrency news, you would have surely heard about FTX Exchange. Partnered with Binance, the most significant crypto exchange globally, FTX Exchange is now the leading cryptocurrency derivative in the ever-changing world of crypto. With headquarters in Hong Kong, the FTX Exchange is designed with cutting-edge technology and is built specifically for professional or intermediate-level traders rather than investors. Now the question may arise, is FTX suitable for investors?

Unfortunately, this platform is not for those who are entering the crypto world as investors. This is because derivative trading is far more complex than traditional spot trading, resulting in higher losses. As it is recommended that beginners should start small, this platform is more appropriate for relatively experienced traders.

This industry-leading program was created in 2018 by Sam Bankman-Fried, who started as a simple trader on Jane Street Capital, and now is also the CEO of the company. It won’t be wrong to say that the platform was built for traders by a trader.

Before launching this novel program, the creators established Alameda Research Ltd in 2017, a prominent liquidity provider for crypto. After founding FTX, Alameda assists the program in maintaining order books and providing 24/7 OTP service.

After seeing the program’s initial success, Binance decided to partner up with FTX and became the lead investor. Seeing this, other leading companies like FB Capital, Greylock Partners, Kenetic, One Block Capital, and Proof of Capital decided to join the bandwagon, and all became seed investors of the exchange.

Therefore, FTX exchange is backed by many crypto ventures making it moderately stable. It also has a transparent system as the founders believe they have nothing to hide, making the exchange stable and trustworthy. What else would a trader need? And thanks to the FTX exchange, Alameda now manages over $100 Million of digital assets and trades that lead up to $1.5 Billion per day.

FTX Exchange Ranking:

It is no secret that FTX has made quite a name for itself in the crypto derivatives market. But how good is it as compared to other crypto derivative platforms? With over 1497 markets, the FTX exchange is rated ‘A.’ Being rated ‘A’ verifies the platform’s transparency, proving that the FTX exchange is entirely safe to carry out all the trading activities.

Compared to 434 different derivative exchanges, the FTX exchange is ranked at #3 in transparency and volume. Dealing with a wide range of fiat and cryptocurrencies, the FTX exchange is one of the best in the market!

Prominent Features and Products:

This industry-leading exchange has been attracting and hooking thousands of users to its various remarkable features. As mentioned before, derivative trading is risky and requires a stable and secure exchange to carry out its activity. If you’re looking for such a platform, FTX Exchange is the place for you.

The platform also offers various chat groups in more than ten different languages. In addition to that, FTX exchange also provides premium features that are rarely seen on any other platform, such as an OTC desk and unlimited withdrawals.

Some other notable features and products of FTX Exchange are:

  • 101x leverage: 

One of the most prominent features of the FTX exchange is that it offers tremendous leverages to its users that lead up to 101x. Due to this, the profits of users skyrocket, and they get huge returns in no time. This feature is not seen in any of the platform’s competitors.

  • Leveraged Tokens:

FTX exchange was the first one in the industry to offer leveraged tokens to its users. It provides long as well as short-term tokens that lead up to 3x without even restoring the margin. This feature was highly appreciated in the market and became one of the main reasons for the popularity of the exchange.

  • Quick Fiat Transfers:

Another notable feature of the FTX exchange is its ability to quick Fiat transfers. Platform users can make transactions and deposits in various Fiat currencies such as USD, EUR, AUD, GBP, and CAD. The exchange accepts bank transfers, debit cards as well as credit cards.

  • Easy Stablecoin Settlement:

In our opinion, this is by far the most noteworthy feature that the exchange offers. This feature allows the user to convert the currencies within their accounts effortlessly. In addition to that, the user can trade all their derivatives with only one margin wallet. This is a convenient feature for the traders to settle using stablecoins instead of the traditional and default USD.

  • Crypto Collateral:

Unlike the usual exchanges that accept only Fiat and Stablecoins as collateral, the industry-leading FTZ exchange allows users to use a range of cryptocurrencies as collateral, such as ETH, LINK, MKR, YFI, etc. In addition to that, the platform provides detailed guides and a support team in case a user faces any problem.

FTX Exchange Fees Structure:

As if offering a range of remarkable features was not enough, FTX Exchange provides its users with the lowest trading charges in the whole market! Most of the features are free such as OTC trading and Future Settlement. In addition to that, the deposit and withdrawal are also free. This is also a justifiable reason for the popularity of the platform in the market.

Presently, the trading fee ranges from 0.07% to as low as 0.04%. The system is designed so that traders with higher volumes are offered low trading fees. Due to this, making more considerable profits increases, which justifies the company’s policy, go big or go home.

FTX exchange review-FTX exchange fee structure

Furthermore, in leveraged tokens, FTX exchange demands creation and redemption fees of 0.10% and a daily management fee of 0.03%. If you decide to use the leverage of 50x, the trading fee will increase by 0.02%, and similarly, if you choose to use leverage by 100x, the trading fee will increase by 0.03%. This fee is paid in the insurance fund and is not seen in any other exchange platforms, including BTC-PERP and ETH-PERP.

FTT Token:

Just like most derivative exchanges, FTX also uses its utility token. The FTT token can be regarded as a reward token like the other native utility token of different platforms such as BNB for Binance. The FTT token gives multiple benefits to its holder. Unfortunately, the FTT token is not available for people living in the USA.

FTX Exchange also offers a specific trade discount for FFT holders. These discounts are based on your holdings and can range from 3% to up to 60%. It is pretty evident from the table below that holding an FTT token can be highly profitable for you.

ftx exchange review-Discount for FTT token holders

In addition to this, you can increase your rewards by staking your FTT tokens. By doing this, you would receive incentives such as:

  • Raised Referral Rates
  • Bonus Votes
  • Increased Airdrop incentives
  • Maker Free Rebates

How Safe & Regulated is FTX:

When you’re running a platform in which Millions are being stored and traded, security is a big concern. Although the platform has never disclosed what security protocols they use to protect the data and funds of their users, we can assume that the FTX exchange uses standard bank-like security practices. No incident has been reported relating to a breach in the security system, which only proves that the exchange is entirely safe from any outside attack. The platform also takes pride in stating that they conduct regular security checks with the help of third parties like the industry-leading crypto security company like Blockchain Consilium.

Apart from this, the exchange uses standard protocols such as cold wallet storage and two-factor authentication to ensure the safety of its users. Therefore, FTX appears to be a secure platform backed by Alameda Research Ltd, which has never made other platforms successful too in the past.

As far as Regulation is concerned, FTX exchange is not regulated, and people inside the USA cannot trade through the platform.

Derivative Products on FTX

Another factor that makes FTX exchange the best derivative trading platform in the market is that the platform offers various innovative trading products. These products can be easily traded on the platform using a single-margin wallet. The products include:

  • Futures:

FTX exchange provides its users with two future contracts, i.e., Quarterly and Perpetual Future, on numerous coins. These coins include BTC, EOS, BNB, and ETH. In addition to that, FTX exchange allows its user to trade various parts of the crypto market rather conveniently. Furthermore, the exchange allows its users to use fiat currency as collateral.

Some of the prominent FTX Future pairs are as follow:

  • BTC-PERP (Bitcoin Perpetual Futures)
  • ETH-PERP (Ethereum Perpetual Futures)
  • MTIC-PERP (Matic Perpetual Futures)
  • BNB-PERP (BNB Perpetual Futures)

Future pairs can be traded with a margin up to 101x by FTX users. Not only this, but they also help increase users’ profits to an extent where they would not have been able to reach on their own.

Visit FTX Futures Market.

  • Leveraged Tokens:

Another innovative and remarkable trading product offered by the FTX Exchange is the leveraged tokens. These leveraged tokens aid the user with risk management. FTX Exchange provides traders with leverage as much as 101x, but as a safety precaution, by default, there is a maximum 10x leverage on all accounts.

ERC20 tokens and FTX exchange allow users to sell and buy them with up to 3x leverage. To top it all, the platform has a policy of no margin requirement for these tokens. These tokens are available for various prominent cryptocurrencies such as ETH, BTC, MATIC, and XRP.

Visit FTX Leveraged Tokens Market.

  • Options:

Another commendable feature of the FTX exchange is that it provides traders with options to buy or sell an underlying asset at the right time to be profitable for them. In opposition to the price volatility in the crypto market, experienced traders can use this feature to hedge their open position. This whole process can be regarded as similar to the futures trading feature in the platform. Selling and buying are also considered as “calls” and “puts.” Moreover, the contract expires in USD.

FTX Exchange also allows the trader to trade their options contract expiring in USD with a Bitcoin Options Contract. Through options contracts, traders choose to go call or put their assets.

Visit FTX Options Market.

  • MOVE Contracts:

This innovative feature is primarily for beginners and fundamental traders. Through MOVE contracts available on FTX Exchange, users can trade according to the future volatility of the crypto market. These contracts allow the user to trade on the amount a cryptocurrency is moving, regardless of its direction. In MOVE contracts, only the volatility matters. The contract’s value is also determined by the volatility of the cryptocurrency over a certain period.

For instance, in the case of Bitcoin, the value of the contract will depend on the amount of volatility that comes in the value of the coin is US Dollars. The current volatility of the market can be shown in the chart below.

Visit BTC-Move-0531

Visit BTC-Move-0601

  • Spot Markets:

Moving on to a relatively standard feature, FTX Exchange offers a spot market for the more traditional investors and traders to trade in the assets and cryptocurrencies of their own choice. Currently, the FTX Exchange provides almost all the most significant assets and cryptocurrencies, such as ETH, BTC, LINK, BNB, DOGE, USDT, and many more, for spot trading. FTX Exchange allows spot trading of an asset without any margin or collateral. 

Some of the leading trading pairs on the FTX exchange as per trading volume are BTC/USD, ETH/USD, USDT/USD, LINK/USD, BNB/USD, DOGE/USD, LTC/USD.

Visit FTX Spot Markets.

Account Types and Withdrawal limits on FTX

There is variety even in the types of accounts on the industry-leading FTX Exchange. The platform offers its users three types of KYC accounts, and each category has its requirements and perks. FTX Exchange allows you to withdraw up to $2000 daily by just providing the essential info. This category is called Tier 1. As you move up, the perks also increase.

In Tier 2, the platform requires the user to submit some legal documents in addition to proof of identity. When you qualify for this category, the exchange allows an unlimited amount of withdrawals in crypto. Similarly, to be eligible for the Tier 3 category, you have to fulfill all the previous requirements and submit a copy of your bank statements. After you’re eligible for this, FTX Exchange allows unlimited withdrawals for crypto and fiat currencies.

Deposit & Withdrawal:

FTX Exchange has a relatively easy deposit and withdrawal process. The platform offers a variety of methods for users to deposit their funds. These generally include fiat, crypto as well as Stablecoin. The platform also allows the use of Credit cards to purchase crypto assets directly from the FTX exchange. Traders can also deposit their stable coins into their FTX account.

The cryptocurrencies that can be deposited on the platform are:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Litecoin (LTC)
  • USD Stablecoins (USDC, USDT, PAX, TUSD, and BUSD)
  • Binance Coin (BNB)
  • FTX Token (FTT)
  • Bitcoin Cash (BCH)

In addition to providing such a variety of crypto deposit options, the FTX Exchange incentivizes its users with no crypto deposit or withdrawal charges. But, the fiat withdrawals that are under $10,000 are charged with a fee of $75. As mentioned earlier, fiat withdrawal is available only for users who are Tier 3 verified on FTX, and this process is carried out via a third-party OTC desk. It is suggested that you should contact FTX exchange customer support if you are depositing or withdrawing from the platform for the first time to avoid any future mishap.

Supported Currencies:

FTX Exchange provides its customers with a wide range of currencies by using which they can deposit, trade, and withdraw. These currencies are comprised of fiat as well as crypto currencies.

Some of the supported Fiat currencies are as follows:

  • USD
  • GBP
  • EUR
  • CAD
  • AUD
  • CHF
  • SGD
  • ZAR

In addition to these fiat currencies, FTX also allows a wide range of cryptocurrencies to be used. Thanks to the platform’s innovative products and features such as leverage tokens, spot trading, and MOVE contracts, trading through these cryptocurrencies has become relatively easy.

Some of the supported Cryptocurrencies are as follows:

  • Bitcoin (BTC)
  • Litecoin (LTC)
  • Ethereum (ETH)
  • Binance Coin (BNB)
  • FTX Token (FTT)
  • Bitcoin Cash (BCH)
  • Tether (USDT)
  • Dogecoin (DOGE)
  • OKB
  • MATIC
  • Cosmos (ATOM)
  • XRP
  • ChainLink (LINK)
  • Ethereum Classic (ETC)
  • BitMax Token (BTMX)

Furthermore, the FTX exchange offers its users more than 20 perpetual swaps from which futures trading is available. Moreover, more than 45 leveraged tokens are supported by FTX for its users.

Mobile Trading App:

FTX exchange provides further ease to its users with a mobile trading app. This innovative app is availible on both Android devices and iOS, making it accessible for everyone. It has almost all the great features of the FTX exchange, such as market monitors and trading options. Currently being used by 100K+ people, this app has a long list of satisfied customers and an average rating of 4.5 stars on the app store.

ftx mobile apps

Visit FTX Google Play App

Visit FTX Apple Store App

FTX US

FTX.US is a partner company of FTX exchange which the US government regulates. FTX US makes it possible for US traders to trade and enjoy benefits of FTX US exchange. FTX has to made a separate platform for US traders in order to comply with strict US regulations. US users are not allowed on FTX main exchange so keeping that in view FTX launched, FTX US.  The platform uses the same features as the FTX exchange. Therefore, the users can enjoy the same perks as the original platform.

Just like the FTX exchange, FTX US also leads in the area of low trading fees. Starting from 0.4%, it goes as low as 0.05%. The higher the trading volume, the lower your takers’ fees will be. This is a step to increase the profit margin of traders. In the case of withdrawal and deposit fees, bank transfers are completely fee-free, while wire transfers charge up to 1%.

The exchange also offers a wide range of fiat and cryptocurrencies to be used in trading. The platform supports six fiat currencies and approximately 19 cryptocurrencies. Supported Fiat currencies are USD, CAD, GBP, AUR, EUR, and SGD. While some of the supported cryptocurrencies are as follows:

  • ETH
  • BTC
  • LTC
  • DOGE
  • BCH
  • USDT
  • LINK

The FTX US is a secure and regulated platform. Traders can carry out their operations without any hesitation. The exchange uses all the required standard safety protocols, including two-factor authentication and different passwords for every feature to be on the safe side. In addition to this, the exchange has partnered with Chainalysis, which is a blockchain analysis firm. It regularly checks upon the platform’s security system and ensures the safety of users’ data and trading profits.

Conclusion

To conclude, FTX Exchange is undoubtedly one of the best crypto derivative exchanges in the market. The platform provides innovative and ground-breaking new features that are not seen in any other derivative exchange. FTX exchange is the go-to platform for every crypto trader with a secure and stable set of networks. Providing a wide range of new and innovative features such as leveraged tokens, move contracts, and spot market, the exchange is a must-try for all.

Unfortunately for the people living in the States, this derivative exchange is not available. However, the citizens can trade via a partner company called FTX.US. As we know that derivative trading is hazardous; therefore, the exchange should only be used by traders who have sufficient experience in this area. In addition to all this, to make user accessibility easy, FTX exchange also has a mobile app, so now you can monitor your profits on your phone too.

Frequently Asked Questions (FAQ’s):

How Is FTX Exchange better?

Ranked at #3 amongst all the derivative exchanges in terms of transparency and volume, FTX exchange is undoubtedly worth it. But still, if you are curious to know how the platform is crushing its opponents, here is a list of reasons.

  • Backed by many crypto ventures, including Alameda Research Ltd and Binance, making it completely secure and stable.
  • The trading fee is the lowest as compared to other exchanges, thanks to FTT tokens.
  • No withdrawal and deposit fee.
  • Offers a variety of trading products.
  • Secure and Glitch free.

These are only a few reasons that advocate that the FTX Exchange is one of the best crypto derivative exchanges in the market.

Is FTX Exchange suitable for beginners?

No, FTX exchange is not precisely suitable for beginners. Derivative trading is relatively complex than traditional spot trading, and the chances of loss are also high. Therefore it is advised that more experienced traders should use the platform. But, the exchange has a very nifty support center which can be helpful to beginners.

What are the alternatives to FTX?

There are currently more than 436 derivative exchanges in the crypto market. FTX is among the best, but if you’re still looking for another platform to perform your trades, some alternatives are Binance, Huobi Global, and OKEx.

Does FTX provide translation support?

FTX exchange has users all over the globe. Therefore the platform provides translation support to its users in multiple languages such as English, Traditional and Simplified Chinese, Japanese, and Korean.

Is any country banned from using FTX?

Due to regulatory issues, multiple countries have banned FTX exchange. Users from these countries can use a partner company of the exchange called FTX.US. The United States government regulates this exchange.The list of banned countries are as follows:

  • USA
  • Iran
  • Syria
  • North Korea
  • Singapore
  • Sudan
  • Cuba
  • Canada

When Charles Hoskinson Met Grace, A Next-Generation Robot Coming To The Cardano Blockchain

Jakkk
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When Charles Hoskinson Met Grace, A Next-Generation Robot Coming To The Cardano Blockchain

Charles Hoskinson met Grace, the next generation robot that will appear on the Cardano blockchain. Grace is a humanoid robot designed to care for the elderly, doing therapeutic conversations with them, which allows him to detect and respond to patient needs.


Grace was developed by SingularityNET, a decentralized artificial intelligence company that decided to migrate to Cardano from Ethereum.

In a recent YouTube video, Hoskinson documented his first interaction with the robot Grace.

 

SingularityNET has been working on Grace for a while now. The company aims to revolutionize the elderly care industry by allowing robots to provide 24/7 attention to aging members of society. These robots can detect and respond appropriately to older people based on their emotional context.

In an interview with Hoskinson, SingularityNET founder Hertzel stated:

By the time Grace is deployed on a large scale across multiple hospitals, it will be powered by the SingularityNET platform running on Cardano, which will be critical to getting the scaled-up performance that we need.

The Cardano community is very excited about the launch of the Alonzo Cardano hard fork, which will begin a new era of smart contracts and advanced dApps. However, this was the first time the robot expressed its excitement about what the future holds for Cardano.

Grace told Hoskinson:

I’ve heard a lot about the partnership between SingularityNET and Cardano. I can hardly wait for SingularityNET to connect to the Cardano blockchain. I’ve heard that Cardano will support my brain’s ability to perform at its highest level and process biological data at its fastest rate.

Grace’s target market is one that has become the focus of the healthcare industry in recent years. In the United States alone, more than 16.5 percent of the population is over 65, which is more than 55 million people. Most of these older adults need help as they suffer from some neurodegenerative diseases such as Alzheimer’s. Robotics and artificial intelligence will be critical to expanding health care for the elderly.

Watch Video:

Nasdaq Acknowledges Chiliz (CHZ) As An Low-Cost Altcoin With Solid Potential In 2021

Mark Brennan
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Nasdaq Acknowledges Chiliz (CHZ) As An Low-Cost Altcoin With Solid Potential In 2021

The Well-Known American Stock exchange Nasdaq has recently published an article titled “7 Low-Cost Altcoins That Still Have Solid Potential In 2021” that include Chiliz (CHZ) in its list.


The Nasdaq article says that because of recent sell off crypto investors are looking for low priced coins that could make new cryptocurrency millionaires.

According to article these seven coins have a strong product and true potential that make them look very attractive for crypto investors with much up side potential.

The article reads:

“There have been spectacular increases in the price of altcoins in 2021. Thus it is no surprise that the market is looking for new low-priced altcoins that could make new “crypto millionaires.” As a result of the recent sell-off in digital currencies, cheaper altcoins might look like attractive assets due to their potential upside. Therefore, today I’ll discuss seven low-cost cryptos that still have solid upside potential in the rest of the year. What a week it has been for cryptocurrencies. In a matter of days, many of the darlings among digital assets are about 50% down from their all-time-highs hit earlier in the year.”

The List include following coins:

  • Basic Attention Token (BAT)
  • Chainlink (LINK)
  • Chia (XCH)
  • Chiliz (CHZ)
  • Holo (HOT)
  • VeChain (VET)
  • Zilliqa (ZIL)

Nasdaq Admired Chiliz (CHZ) as an Altcoin with Solid potential in 2021

CHZ is native coin of Chiliz. According to Nasdaq article:

“Chiliz operates in the non-fungible token (NFT) space, which has become the latest global digital token phenomenon. Such blockchain-based tokens are certificates of ownership of virtual or physical assets. Most of these token are currently built on the Ethereum platform.”

What Nasdaq article says about CHZ:

“CHZ is the crypto for the Chiliz and Socios.com platforms. Chiliz.net is a tokenized sports exchange where fans trade or purchase sports-branded tokens. It has become the leading blockchain in the esports arena.

Similarly, on Socios.com, users can, for example, buy voting rights for their favorite teams. They interact with European soccer clubs like FC Barcelona, Manchester City, Juventus, Atletico de Madrid or Paris Saint-Germain. These clubs can set up their own tokens and sell fans special perks, such as voting rights on team jersey designs or early access to game tickets. There are over 100 sports teams on the platform.

The company is beginning to grow its U.S. operations, too. CEO Alexandre Dreyfus noted, “the company is preparing to launch fan tokens with franchises from the five major U.S. sports leagues.” In late April, the group partnered with the New Jersey Devils of the National Hockey League. The aim is increased audience monetization and fan engagement.

Rakuten (OTCMKTS:RKUNY) and Chiliz also announced a partnership whereby “Rakuten customers in Spain, UK and Germany can use Rakuten points to redeem Fan Tokens.”

Sports fans can certainly push Chiliz further up in the coming months. InvestorPlace.com readers are well familiar with the massive popularity of fantasy sports. Participation by sports fans could continue to provide tailwinds for the Chiliz token. Finally, the company regularly updates the list of exchanges where crypto users can buy CHZ-USD.”

Over time Chiliz token (CHZ) has gained a strong reputation as a exclusive currency used on the Socios.com platform, that is used by fans to buy branded ‘Fan Tokens’ from internationally recognized sports teams and organizations. Chiliz gained so much attraction because football teams such as FC Barcelona, Juventus, Paris Saint-Germain, and AC Milan launched their fan tokens in collaboration with Chiliz.

Read: Nasdaq Article

SEC Charges 5 People Involved In Promoting $2 Billion Crypto Scam For Violating Securities Laws

Mark Brennan
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SEC Charges 5 People Involved In Promoting $2 Billion Crypto Scam For Violating Securities Laws

Five promoters of BitConnect, a ponzi scheme, were accused by the US Securities and Exchange Commission of violating federal securities laws.


Sec Official website writes:

“According to the SEC’s complaint, filed in the United States District Court for the Southern District of New York, from approximately January 2017 to January 2018, BitConnect used a network of promoters, including U.S.-based Trevon Brown (a.k.a. Trevon James), Craig Grant, Ryan Maasen, and Michael Noble (a.k.a. Michael Crypto) to market and sell securities in its “lending program.” The SEC’s complaint alleges that these promoters offered and sold the securities without registering the securities offering with the Commission, and without being registered as broker-dealers with the Commission, as required by the federal securities laws.”

Lara Shalov Mehraban, the agency’s deputy district director, claims that those who illegally took advantage of the public interest in cryptocurrencies will be held responsible:

We claim that these defendants illegally sold unregistered digital asset securities by actively promoting the BitConnect lending program to retail investors. We will continue to hold accountable those who make a profit illegally by taking advantage of the public’s interest in digital assets.

This $2 billion fraud exploded on January 17, 2018, when it ended lending and trading services. The BCC token collapsed over 90% within hours at that time.

The BitConnect platform earned a reputation as a platform that allowed its customers to lend cryptocurrencies to generate large amounts of revenue. However, it soon became clear that Bitconnect was a fraud.

Read More On SEC Official Website: https://www.sec.gov/news/press-release/2021-90

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