Digitex Market Update: China bans OTC and miners, U.S. pressures for regulation 1

Digitex Market Update: China bans OTC and miners, U.S. pressures for regulation

Crypto Industry
Cryptocurrency
• PlebBTC Stacker
June 23, 2021

Although the Chinese mining crackdown started almost two months ago, the government recently decided to extend the ban to the entire country. Earlier in June, Asian crypto derivatives exchanges were also banned from China’s internet search engines and social networks. Some of those were ordered to block Chinese clients or limit leverage to 5x.

The 35% Bitcoin hash rate cut and the potential impact of stricter access to derivatives markets were enough to obliterate $320 billion worth of total market capitalization to $1.32 trillion on June 23, a 20% crash. Altcoins dropped the most, as some top100 went down 35% or more in the week.

Digitex Market Update: China bans OTC and miners, U.S. pressures for regulation 2

Source: Messari & Digitex

Negative highlights include Kusama (KSM) -44%, NEM (XEM) -38%, THORChain (RUNE) -37%), Bitcoin Gold (BTG) -(37%) and Qtum (QTUM) -35%. In fact, none of the top100 were able to close positively.

What happened besides the China mining and crypto derivatives ban?

If you think it through, ~60% of the hashrate coming from China has always been a valid criticism for Bitcoin. Even though those mining pools are not necessarily formed by a few entities, as everyone is free to change or even work solo, there is always the risk of an internet blockage.

Moving an industrial-scale mining operation to another country ain’t as easy as it seems. Besides physical transport, there are potential import taxes to be paid, energy transformers that will unlikely meet the standards of other countries, personnel, and, more importantly, financing.

While accessing stablecoins markets does not depend on governmental institutions, cashing in and out of fiat in China largely depends on OTC markets. After exchanges were banned in September 2017, the fiat gateway relies mainly on those intermediaries.

However, the Chinese government recently intensified the crackdown. The People Bank of China (PBoC) told banks and financial intermediaries such as AliPay and WePay to shut off any client with crypto mining or trading activities.

With an impending mid-term inability to convert from crypto to local fiat currency and in desperate need to raise cash to reestablish their operations elsewhere, both miners and OTC desks were forced to sell.

Was there anything else besides China?

Grayscale GBTC Trust fund, listed on U.S. markets, holds over $20 billion worth of Bitcoin, faced a 30,000 BTC unlock in a single week. Institutional clients who can buy GBTC shares directly from Grayscale face a 6-month lock-up window, so they cannot sell them on secondary markets immediately. 

Although there’s no guarantee that those clients will dump their stake, it certainly adds more pressure to a market that was already beaten up. To make things even worse, Jim Cramer, CNBC’s “Mad Money” TV Host, said on June 22 that he had “sold almost all of his Bitcoin.” Cramer expressed concerns about the Chinese crackdown and ransomware attacks in the U.S.

Was $28,000 the ultimate bottom?

There’s really no way to know because it is impossible to estimate how long it will take for miners to settle and reestablish Bitcoin’s hash rate, let alone the impact of the Chinese crackdown on OTC. 

Undoubtedly, the demand from the population for digital assets, including Bitcoin and stablecoins, was not affected as China is underway to implement a digital Yuan. This movement will likely lead to even stricter rules, increasing the demand for uncensorable money.

We’ve seen similar effects in other countries, with Nigeria’s most recent case causing a spike in peer-to-peer (p2p) trading platforms’ volumes. Initially, there’s a substantial local price premium versus international markets, but it tends to reduce as intermediaries find new ways to transact using fiat money.

Can governments ban crypto?

No. There is no way governments can ban someone from using softwares, especially if it doesn’t require an internet connection. Blockstream, the company behind Blockstream.info blockchain explorer and Green Wallet, offers free satellite data broadcasting Bitcoin’s blockchain 24/7.

A group of Brazilians have recently sent a Bitcoin transaction using amateur radio and literally used the moon (yes, Earth’s satellite) as an intermediary.

Multiple services offer SMS (standard text message) commands to propagate Bitcoin transactions. Similar tools have been developed for Telegram and Whatsapp chat services.

When China banned crypto exchanges in 2017, those companies moved their servers to other regions and turned to stablecoins, avoiding fiat currency transactions.

Will the U.S. replicate China’s recent anti-crypto moves?

Coinbase and Kraken are fully regulated and licensed companies in the U.S., offering digital assets trading, custody, and payment processing, including debit cards. Kraken has a full banking license from Wyoming State.

The U.S. Comptroller of the Currency (OCC) clarified in May 2020 that banks could custody cryptocurrency assets and engage in stablecoin activity.

According to CNBC, Miami mayor Francis Suarez is offering low energy prices for miners and clean nuclear power. Suarez has been a crypto believer for years, and the city is currently proposing to accept crypto payments for taxes, fees, and services.

A severe turnaround at this point seems extremely unlikely. However, a potential stronger regulation could certainly delay institutional investors’ adoption, although not effectively ban crypto transmission and activity outside of regulated exchanges.

Do I have any risk by trading at Digitex?

Digitex Ltd is a zero-fee cryptocurrency spot and futures exchange that uses its native DGTX token to enable liquid commission-free markets. We are an established company, registered in St. Vincent, with nearly two years of uninterrupted activity.

We’re fully compliant by proactively banning U.S. clients from participating in our derivatives markets, as well on the IEO offers taking place on Blockfunder.

Suppose China, or any other region, contacts our offices requesting to block IPs coming from specific areas or their citizens to take part in leverage trading. In that case, those requests will be reviewed, and our legal team will act following the legislation.

Our main goal is to protect clients’ assets, maintaining a secure and reliable trading engine.

What is the recommended strategy here?

Personally, I was not expecting so much heat from China, therefore my long positions have increased at $49k and more recently at $35k. Sure, it must be good to ‘catch’ the exact bottom, but in 6 to 9 months’ time, will it make a difference?

My point is: don’t wait for the perfect entry point, but at the same time don’t over-leverage your position. Make sure there’s enough margin to stay liquid if Bitcoin drops to $20k.

We hope you enjoyed our weekly review. Make sure to follow us on Instagram and join our Telegram channel to get exclusive news and information.

Written by: PlebBTC Stacker (I’m writing for Blockster), covering crypto markets since 2017. Retired derivatives trader and full-time pleb. After two decades of working on traditional finance, I started by doing crypto p2p trading and finally understood the true value of scarcity and censorship resistance. Be humble, stack sats!

 

June 23, 2021
Crypto Industry
Cryptocurrency

Digitex Market Update: China bans OTC and miners, U.S. pressures for regulation

PlebBTC Stacker
Digitex Market Update: China bans OTC and miners, U.S. pressures for regulation 3

Although the Chinese mining crackdown started almost two months ago, the government recently decided to extend the ban to the entire country. Earlier in June, Asian crypto derivatives exchanges were also banned from China’s internet search engines and social networks. Some of those were ordered to block Chinese clients or limit leverage to 5x.

The 35% Bitcoin hash rate cut and the potential impact of stricter access to derivatives markets were enough to obliterate $320 billion worth of total market capitalization to $1.32 trillion on June 23, a 20% crash. Altcoins dropped the most, as some top100 went down 35% or more in the week.

Digitex Market Update: China bans OTC and miners, U.S. pressures for regulation 4

Source: Messari & Digitex

Negative highlights include Kusama (KSM) -44%, NEM (XEM) -38%, THORChain (RUNE) -37%), Bitcoin Gold (BTG) -(37%) and Qtum (QTUM) -35%. In fact, none of the top100 were able to close positively.

What happened besides the China mining and crypto derivatives ban?

If you think it through, ~60% of the hashrate coming from China has always been a valid criticism for Bitcoin. Even though those mining pools are not necessarily formed by a few entities, as everyone is free to change or even work solo, there is always the risk of an internet blockage.

Moving an industrial-scale mining operation to another country ain’t as easy as it seems. Besides physical transport, there are potential import taxes to be paid, energy transformers that will unlikely meet the standards of other countries, personnel, and, more importantly, financing.

While accessing stablecoins markets does not depend on governmental institutions, cashing in and out of fiat in China largely depends on OTC markets. After exchanges were banned in September 2017, the fiat gateway relies mainly on those intermediaries.

However, the Chinese government recently intensified the crackdown. The People Bank of China (PBoC) told banks and financial intermediaries such as AliPay and WePay to shut off any client with crypto mining or trading activities.

With an impending mid-term inability to convert from crypto to local fiat currency and in desperate need to raise cash to reestablish their operations elsewhere, both miners and OTC desks were forced to sell.

Was there anything else besides China?

Grayscale GBTC Trust fund, listed on U.S. markets, holds over $20 billion worth of Bitcoin, faced a 30,000 BTC unlock in a single week. Institutional clients who can buy GBTC shares directly from Grayscale face a 6-month lock-up window, so they cannot sell them on secondary markets immediately. 

Although there’s no guarantee that those clients will dump their stake, it certainly adds more pressure to a market that was already beaten up. To make things even worse, Jim Cramer, CNBC’s “Mad Money” TV Host, said on June 22 that he had “sold almost all of his Bitcoin.” Cramer expressed concerns about the Chinese crackdown and ransomware attacks in the U.S.

Was $28,000 the ultimate bottom?

There’s really no way to know because it is impossible to estimate how long it will take for miners to settle and reestablish Bitcoin’s hash rate, let alone the impact of the Chinese crackdown on OTC. 

Undoubtedly, the demand from the population for digital assets, including Bitcoin and stablecoins, was not affected as China is underway to implement a digital Yuan. This movement will likely lead to even stricter rules, increasing the demand for uncensorable money.

We’ve seen similar effects in other countries, with Nigeria’s most recent case causing a spike in peer-to-peer (p2p) trading platforms’ volumes. Initially, there’s a substantial local price premium versus international markets, but it tends to reduce as intermediaries find new ways to transact using fiat money.

Can governments ban crypto?

No. There is no way governments can ban someone from using softwares, especially if it doesn’t require an internet connection. Blockstream, the company behind Blockstream.info blockchain explorer and Green Wallet, offers free satellite data broadcasting Bitcoin’s blockchain 24/7.

A group of Brazilians have recently sent a Bitcoin transaction using amateur radio and literally used the moon (yes, Earth’s satellite) as an intermediary.

Multiple services offer SMS (standard text message) commands to propagate Bitcoin transactions. Similar tools have been developed for Telegram and Whatsapp chat services.

When China banned crypto exchanges in 2017, those companies moved their servers to other regions and turned to stablecoins, avoiding fiat currency transactions.

Will the U.S. replicate China’s recent anti-crypto moves?

Coinbase and Kraken are fully regulated and licensed companies in the U.S., offering digital assets trading, custody, and payment processing, including debit cards. Kraken has a full banking license from Wyoming State.

The U.S. Comptroller of the Currency (OCC) clarified in May 2020 that banks could custody cryptocurrency assets and engage in stablecoin activity.

According to CNBC, Miami mayor Francis Suarez is offering low energy prices for miners and clean nuclear power. Suarez has been a crypto believer for years, and the city is currently proposing to accept crypto payments for taxes, fees, and services.

A severe turnaround at this point seems extremely unlikely. However, a potential stronger regulation could certainly delay institutional investors’ adoption, although not effectively ban crypto transmission and activity outside of regulated exchanges.

Do I have any risk by trading at Digitex?

Digitex Ltd is a zero-fee cryptocurrency spot and futures exchange that uses its native DGTX token to enable liquid commission-free markets. We are an established company, registered in St. Vincent, with nearly two years of uninterrupted activity.

We’re fully compliant by proactively banning U.S. clients from participating in our derivatives markets, as well on the IEO offers taking place on Blockfunder.

Suppose China, or any other region, contacts our offices requesting to block IPs coming from specific areas or their citizens to take part in leverage trading. In that case, those requests will be reviewed, and our legal team will act following the legislation.

Our main goal is to protect clients’ assets, maintaining a secure and reliable trading engine.

What is the recommended strategy here?

Personally, I was not expecting so much heat from China, therefore my long positions have increased at $49k and more recently at $35k. Sure, it must be good to ‘catch’ the exact bottom, but in 6 to 9 months’ time, will it make a difference?

My point is: don’t wait for the perfect entry point, but at the same time don’t over-leverage your position. Make sure there’s enough margin to stay liquid if Bitcoin drops to $20k.

We hope you enjoyed our weekly review. Make sure to follow us on Instagram and join our Telegram channel to get exclusive news and information.

Written by: PlebBTC Stacker (I’m writing for Blockster), covering crypto markets since 2017. Retired derivatives trader and full-time pleb. After two decades of working on traditional finance, I started by doing crypto p2p trading and finally understood the true value of scarcity and censorship resistance. Be humble, stack sats!

 

Latest News

Over 125,000 people joined Blockster waitlist, plus third phase of the $BXR token sale is live 5

Over 125,000 people joined Blockster waitlist, plus third phase of the $BXR token sale is live

Crypto Industry
• Digitex
June 22, 2021

We want to thank everyone who has contributed to the ongoing Blockster launch campaign.

You no longer need to use separate services to chat with your friends about the hottest digital asset trends, read the latest news, follow your favorite influencers and writers, or check the crypto market caps and performances.

Blockster is an all-in-one social network for crypto, currently in a testnet stage. We’ve partnered with experienced writers, influencers, thought leaders, and blockchain businesses to create exceptional content as we begin to onboard our waitlisted users in the coming weeks.

When can you access Blockster?

Those taking part in the BXR token sale will have priority access, so if you want to be in this selected first 1,000 group, go to Blockfunder, the IEO platform hosting the Blockster (BXR) token sale, and buy BXR now.

Hurry up before prices go up! We’re currently in phase three, so each token is priced at $1.50, a 33% discount to the final sale price.

Should I wait for the official launch?

That’s really up to you, as each investor has their risk-reward preferences. The longer you wait, the higher the token offer price. 

We suggest you DYOR (do your own research), read some of the latest press stories, and follow our development progress:

“Decentralized Social Networks Are More Interested in How To Store Content Than Quality” Adam Todd, – Hackernoon

Meet Blockster: the one-stop-shop social network for crypto enthusiasts, – AMB Crypto

Blockster offers the benefits of LinkedIn, Twitter, and Instagram for the crypto community in one single place, – Finance Magnates

Soon you’ll get to meet our authors, brand ambassadors and team members. We understand you’re eager to see the platform in working condition.

Feel free to also search Blockster reviews on Youtube: 

Ryan Matta, 33,9K subscribers

CryptoRus, 390K subscribers

Aimstone, 62,3K subscribers

What else will be implemented?

We’re building partnerships with projects, established cryptocurrencies, and blockchain businesses. Keep in mind: the BXR token is the only payment method accepted for advertising in Blockster.

Right now, our team is implementing the suggestions and feedback from our experienced testnet users. Meanwhile, a fully working mobile app is underway to effectively replace the multiple services currently required for blockchain hustlers like you to succeed in this industry.

How does BXR token bring value?

Users are incentivized to hold and stake BXR to earn 20% ROI from our advertising revenue share program. Simultaneously, companies and projects wanting to advertise to our audience will need to acquire BXR tokens every month.

Over 125,000 people joined Blockster waitlist, plus third phase of the $BXR token sale is live 6

Lastly, the 5% monthly token burn is also tied to the network’s ad revenue, causing BXR to be deflationary.

Over 125,000 people joined Blockster waitlist, plus third phase of the $BXR token sale is live 7

Where can I find more information?

Our team is open to communication and anxious for your questions and suggestions at our Blockster Telegram, where we constantly post updates and news about the project.

June 22, 2021
Crypto Industry

Over 125,000 people joined Blockster waitlist, plus third phase of the $BXR token sale is live

Digitex
Over 125,000 people joined Blockster waitlist, plus third phase of the $BXR token sale is live 8

We want to thank everyone who has contributed to the ongoing Blockster launch campaign.

You no longer need to use separate services to chat with your friends about the hottest digital asset trends, read the latest news, follow your favorite influencers and writers, or check the crypto market caps and performances.

Blockster is an all-in-one social network for crypto, currently in a testnet stage. We’ve partnered with experienced writers, influencers, thought leaders, and blockchain businesses to create exceptional content as we begin to onboard our waitlisted users in the coming weeks.

When can you access Blockster?

Those taking part in the BXR token sale will have priority access, so if you want to be in this selected first 1,000 group, go to Blockfunder, the IEO platform hosting the Blockster (BXR) token sale, and buy BXR now.

Hurry up before prices go up! We’re currently in phase three, so each token is priced at $1.50, a 33% discount to the final sale price.

Should I wait for the official launch?

That’s really up to you, as each investor has their risk-reward preferences. The longer you wait, the higher the token offer price. 

We suggest you DYOR (do your own research), read some of the latest press stories, and follow our development progress:

“Decentralized Social Networks Are More Interested in How To Store Content Than Quality” Adam Todd, – Hackernoon

Meet Blockster: the one-stop-shop social network for crypto enthusiasts, – AMB Crypto

Blockster offers the benefits of LinkedIn, Twitter, and Instagram for the crypto community in one single place, – Finance Magnates

Soon you’ll get to meet our authors, brand ambassadors and team members. We understand you’re eager to see the platform in working condition.

Feel free to also search Blockster reviews on Youtube: 

Ryan Matta, 33,9K subscribers

CryptoRus, 390K subscribers

Aimstone, 62,3K subscribers

What else will be implemented?

We’re building partnerships with projects, established cryptocurrencies, and blockchain businesses. Keep in mind: the BXR token is the only payment method accepted for advertising in Blockster.

Right now, our team is implementing the suggestions and feedback from our experienced testnet users. Meanwhile, a fully working mobile app is underway to effectively replace the multiple services currently required for blockchain hustlers like you to succeed in this industry.

How does BXR token bring value?

Users are incentivized to hold and stake BXR to earn 20% ROI from our advertising revenue share program. Simultaneously, companies and projects wanting to advertise to our audience will need to acquire BXR tokens every month.

Over 125,000 people joined Blockster waitlist, plus third phase of the $BXR token sale is live 9

Lastly, the 5% monthly token burn is also tied to the network’s ad revenue, causing BXR to be deflationary.

Over 125,000 people joined Blockster waitlist, plus third phase of the $BXR token sale is live 10

Where can I find more information?

Our team is open to communication and anxious for your questions and suggestions at our Blockster Telegram, where we constantly post updates and news about the project.

Latest News

adam todd

A Video Update from Adam

Digitex
Crypto Industry
• Digitex
June 11, 2021

Adam Todd, the founder and CEO of Digitex, and more recently, of Blockster, posted a video detailing how the social platform not only solves an industry problem but opens room for an entirely new ecosystem.

Adam starts by explaining how Blockster is a social platform focused on cryptocurrency, dedicated to just that. 

According to our founder, Blockster is where legitimate projects can come to build a following, share updates, and users can discuss upcoming tokens, ICOs. 

That’s not all, as Blockster has a big education area, Blockademy, besides a coin ranking, similar to CoinMarketCap. Lastly, Blockdesk, a curated and user-generated blog, focused on high-quality content.

What makes Blockster unique, according to Adam Todd?

“We allow cryptocurrency, legitimate projects, to advertise,” Adam mentions the digital asset blanket-ban by traditional social media companies. He explains how it is impossible to buy quality traffic to reach a quality audience, even for Digitex exchange.

Therefore, crypto companies are desperate for advertising to their target audience, and Blockster will change that.

Why is the BXR token special?

Blockster’s CEO shows how the token is the gateway for these companies to reach this high-quality audience, as they got to buy BXR tokens to advertise on the platform. Those cash-rich companies want to spend this money, and they need to spend and are going in.

Lastly, Adam explains how the BXR supply is constantly decreasing as 5% of this ad revenue is burnt. Furthermore, the users that stake BXR tokens on Blockfarm share 20% of the advertising revenue.

The result is constant competition from the advertisers who need BXR, besides users who want to buy them to share that revenue.

Adam explains that Digitex has been around for three and a half years, and Blockster is part of a bigger plan to build something really great, including a token launch platform, Blockfunder

We strongly recommend you hear it directly from the mastermind of this revolutionary ecosystem.

What is Adam’s role in Blockster?

Make sure that Digitex token launch platform, Blockfunder, is a success, and Blockster is a part of Digitex as a large source of traffic.

When will the Blockster platform be released?

End of June, but that’s when the BXR token offer price goes for the highest price, so for those that recognize the virality that the project has, getting early means a huge discount.

June 11, 2021
Digitex
Crypto Industry

A Video Update from Adam

Digitex
adam todd

Adam Todd, the founder and CEO of Digitex, and more recently, of Blockster, posted a video detailing how the social platform not only solves an industry problem but opens room for an entirely new ecosystem.

Adam starts by explaining how Blockster is a social platform focused on cryptocurrency, dedicated to just that. 

According to our founder, Blockster is where legitimate projects can come to build a following, share updates, and users can discuss upcoming tokens, ICOs. 

That’s not all, as Blockster has a big education area, Blockademy, besides a coin ranking, similar to CoinMarketCap. Lastly, Blockdesk, a curated and user-generated blog, focused on high-quality content.

What makes Blockster unique, according to Adam Todd?

“We allow cryptocurrency, legitimate projects, to advertise,” Adam mentions the digital asset blanket-ban by traditional social media companies. He explains how it is impossible to buy quality traffic to reach a quality audience, even for Digitex exchange.

Therefore, crypto companies are desperate for advertising to their target audience, and Blockster will change that.

Why is the BXR token special?

Blockster’s CEO shows how the token is the gateway for these companies to reach this high-quality audience, as they got to buy BXR tokens to advertise on the platform. Those cash-rich companies want to spend this money, and they need to spend and are going in.

Lastly, Adam explains how the BXR supply is constantly decreasing as 5% of this ad revenue is burnt. Furthermore, the users that stake BXR tokens on Blockfarm share 20% of the advertising revenue.

The result is constant competition from the advertisers who need BXR, besides users who want to buy them to share that revenue.

Adam explains that Digitex has been around for three and a half years, and Blockster is part of a bigger plan to build something really great, including a token launch platform, Blockfunder

We strongly recommend you hear it directly from the mastermind of this revolutionary ecosystem.

What is Adam’s role in Blockster?

Make sure that Digitex token launch platform, Blockfunder, is a success, and Blockster is a part of Digitex as a large source of traffic.

When will the Blockster platform be released?

End of June, but that’s when the BXR token offer price goes for the highest price, so for those that recognize the virality that the project has, getting early means a huge discount.

Latest News

Community Questions About Blockfunder, DGTX, and Beyond 11

Community Questions About Blockfunder, DGTX, and Beyond

Crypto Industry
• Digitex
June 8, 2021

We’ve kicked off the Blockster (BXR) token sale and it’s off to a strong start! We’ve had positive feedback from several key influencers and a few hundred sales have come in. Track the action yourself or join in by heading to our Blockfunder page. During the first phase of the sale, BXR tokens are available for the reduced price of $1 each and purchases are accepted in DGTX only.

And while our very first IEO is taking place, as always, we’re gathering feedback from the community. Beyond our stellar trading platform and super talented team, it’s you guys we value the most. We’ve been able to expand and grow even through the toughest of circumstances thanks to your ongoing feedback and support. 

This week, your questions are answered by Digitex’s Product Owner Alexey Veledinskii (AV). He’s one of the driving forces behind the high-quality upgrades you’ve seen lately and is working closely with Adam to keep the roadmap on track. We’ll share a spotlight on AV later this month, but for now, let’s dive into your questions.

Q. Was Blockfunder the only solution mentioned in the blog to take DGTX out of circulation?

A. Blockfunder is only the first step that we will take in this direction. We understand that to create demand for DGTX, we need to add more utility for the token. We have several ideas and will deploy some of them this year (autumn will be rich for harvest).

Q. Any news about the stablecoin?

A. We can’t give any details on that right now, but we know that our traders really want stable derivatives markets and satisfying our traders is the main reason we’re all here working on Digitex.io development.

Q. Are bracket orders coming soon?

A. We are in the concept stage of refactoring Delayed Actions (Conditional orders, SL/TP) systems. We aim to deliver really easy-to-use Delayed Actions and bracket orders.

Q. Is the burning DGTX tokens idea on the table? Like some proportion of the Blockfunder sales maybe.

A. Burning may be helpful for short to medium term but it can’t be good as a long term solution. DGTX received from the BXR token sale will not be burned, but in future, when we add more utility for DGTX, we can implement a burning system to warm the market up.

Q. Is there going to be a staking period and penalty if un-staked earlier than the period; burning some of the unstaked tokens is a good idea as well.

A. This seems strange. Like we are going to force our traders to use DGTX or lose it. My point is that I think this is the wrong way to do it. We must create demand for DGTX by improving our products, make it more stable on one hand, and more flexible on the other. That’s why creating new utilities for DGTX is our top priority.

Q. Many trade on mobile, any news on that?

A. We already put some logic and design to our early version of the mobile app. The work is in progress, but we can’t say any ETA yet. Our goal is to adapt our Ladder interface for mobile screens. It’s very hard, but we know that the Ladder trading UI has excellent feedback from the community, and it is much more comfortable than a classic UI, especially for quick trades on fast moving markets.

Q. Are you going to improve the spread?

A. Having a big spread is not an issue in itself. We discovered the reasons why it happens and are going to change the market maker model. Also we hired a very experienced senior-level developer with trading bot making experience.

That wraps it up for this week but if you still have a question you want us to answer, be sure to get in touch. Our helpful support staff are on hand 24/7 and you can also reach us on our socials. Also, don’t forget to get in on the Blockster sale right now. Earn extra BXR tokens by referring friends, you can find all the details here.

 

June 8, 2021
Crypto Industry

Community Questions About Blockfunder, DGTX, and Beyond

Digitex
Community Questions About Blockfunder, DGTX, and Beyond 12

We’ve kicked off the Blockster (BXR) token sale and it’s off to a strong start! We’ve had positive feedback from several key influencers and a few hundred sales have come in. Track the action yourself or join in by heading to our Blockfunder page. During the first phase of the sale, BXR tokens are available for the reduced price of $1 each and purchases are accepted in DGTX only.

And while our very first IEO is taking place, as always, we’re gathering feedback from the community. Beyond our stellar trading platform and super talented team, it’s you guys we value the most. We’ve been able to expand and grow even through the toughest of circumstances thanks to your ongoing feedback and support. 

This week, your questions are answered by Digitex’s Product Owner Alexey Veledinskii (AV). He’s one of the driving forces behind the high-quality upgrades you’ve seen lately and is working closely with Adam to keep the roadmap on track. We’ll share a spotlight on AV later this month, but for now, let’s dive into your questions.

Q. Was Blockfunder the only solution mentioned in the blog to take DGTX out of circulation?

A. Blockfunder is only the first step that we will take in this direction. We understand that to create demand for DGTX, we need to add more utility for the token. We have several ideas and will deploy some of them this year (autumn will be rich for harvest).

Q. Any news about the stablecoin?

A. We can’t give any details on that right now, but we know that our traders really want stable derivatives markets and satisfying our traders is the main reason we’re all here working on Digitex.io development.

Q. Are bracket orders coming soon?

A. We are in the concept stage of refactoring Delayed Actions (Conditional orders, SL/TP) systems. We aim to deliver really easy-to-use Delayed Actions and bracket orders.

Q. Is the burning DGTX tokens idea on the table? Like some proportion of the Blockfunder sales maybe.

A. Burning may be helpful for short to medium term but it can’t be good as a long term solution. DGTX received from the BXR token sale will not be burned, but in future, when we add more utility for DGTX, we can implement a burning system to warm the market up.

Q. Is there going to be a staking period and penalty if un-staked earlier than the period; burning some of the unstaked tokens is a good idea as well.

A. This seems strange. Like we are going to force our traders to use DGTX or lose it. My point is that I think this is the wrong way to do it. We must create demand for DGTX by improving our products, make it more stable on one hand, and more flexible on the other. That’s why creating new utilities for DGTX is our top priority.

Q. Many trade on mobile, any news on that?

A. We already put some logic and design to our early version of the mobile app. The work is in progress, but we can’t say any ETA yet. Our goal is to adapt our Ladder interface for mobile screens. It’s very hard, but we know that the Ladder trading UI has excellent feedback from the community, and it is much more comfortable than a classic UI, especially for quick trades on fast moving markets.

Q. Are you going to improve the spread?

A. Having a big spread is not an issue in itself. We discovered the reasons why it happens and are going to change the market maker model. Also we hired a very experienced senior-level developer with trading bot making experience.

That wraps it up for this week but if you still have a question you want us to answer, be sure to get in touch. Our helpful support staff are on hand 24/7 and you can also reach us on our socials. Also, don’t forget to get in on the Blockster sale right now. Earn extra BXR tokens by referring friends, you can find all the details here.

 

Latest News

blockster

Phase 1 BXR Token Sale Launches Today, 55% Discount

Crypto Industry
• Digitex
June 7, 2021

Blockster – the crypto social network platform that combines curated news, chat, experts’ takes, discussion groups, and market data – is launching the BXR token offer today at $1, which is a 55% discount.

Why should you care about the BXR token?

The Blockster (BXR) token will be used to settle all transactions in the ecosystem, including companies willing to advertise and promote their profiles. Therefore, it has an actual demand from day one. BXR stakers will earn 20% of all the advertising revenue on the platform. Companies and projects can communicate to a highly targeted and engaged audience, and users no longer have to scroll through unrelated promos. Moreover, every month Blockster will burn 5% of all BXR spent on advertising, further increasing its value. This feature makes BXR an excellent opportunity for investors

A single opportunity to buy with a 55% discount!

Blockster token sale kicks off TODAY at 12 pm UTC at $1.00, with a 55% discount. Taking part in the BXR token sale is easy! Click here, complete a quick KYC check, read and sign the terms and conditions, and you’re all set!

Phase 1 BXR Token Sale Launches Today, 55% Discount 13

Invite friends, and profit from referrals!

You can take part by referring the IEO to your friends and earn 10% of their BXR purchases. Don’t miss this chance to earn more tokens. Go to Blockfunder, the IEO token launch platform, and create your unique referral link.

BXR Token — Keep updated using Telegram channel

We invite you to join Blockster Telegram channel. All the updates about Blockster and BXR will be published there.

June 7, 2021
Crypto Industry

Phase 1 BXR Token Sale Launches Today, 55% Discount

Digitex
blockster

Blockster – the crypto social network platform that combines curated news, chat, experts’ takes, discussion groups, and market data – is launching the BXR token offer today at $1, which is a 55% discount.

Why should you care about the BXR token?

The Blockster (BXR) token will be used to settle all transactions in the ecosystem, including companies willing to advertise and promote their profiles. Therefore, it has an actual demand from day one. BXR stakers will earn 20% of all the advertising revenue on the platform. Companies and projects can communicate to a highly targeted and engaged audience, and users no longer have to scroll through unrelated promos. Moreover, every month Blockster will burn 5% of all BXR spent on advertising, further increasing its value. This feature makes BXR an excellent opportunity for investors

A single opportunity to buy with a 55% discount!

Blockster token sale kicks off TODAY at 12 pm UTC at $1.00, with a 55% discount. Taking part in the BXR token sale is easy! Click here, complete a quick KYC check, read and sign the terms and conditions, and you’re all set!

Phase 1 BXR Token Sale Launches Today, 55% Discount 14

Invite friends, and profit from referrals!

You can take part by referring the IEO to your friends and earn 10% of their BXR purchases. Don’t miss this chance to earn more tokens. Go to Blockfunder, the IEO token launch platform, and create your unique referral link.

BXR Token — Keep updated using Telegram channel

We invite you to join Blockster Telegram channel. All the updates about Blockster and BXR will be published there.

Latest News

blockster

Blockster in the News – Check Out the Media Highlights

Digitex
Crypto Industry
• Digitex
June 4, 2021

We’re super excited about the launch of Blockster social network, and can’t wait to become the go-to place for all things crypto–and it seems as if we’re not the only ones! Blockster has been garnering a lot of attention in the media recently, with bloth influencers and crypto news sites eager to talk about its awesome features, and celebrate the launch of an entirely new social hub dedicated to crypto hustlers like you.

With Blockster, you no longer need to access multiple websites and apps to find news, educational articles, expert takes, and discussion groups for your topics of interest. Regardless of your knowledge level, every Blockster can make money on their digital assets.

What Are People Saying?

CryptoSlate covered the Blockfunder IEO token launch platform debut, where the financing and fast-tracking of selected projects will take place. Digitex’s due diligence ensures only high-quality offerings will be available, and there’s no better way to kick it all off than with Blockster Social Network’s native token, BXR.

The BXR token is the only accepted payment method for Blockster advertisers, and all commerce inside the platform, such as purchasing NFTs. It will be available for sale starting Monday, June 7. Upon completion of the six phases of the token sale, BXR will be initially listed on Digitex and Uniswap, with other major exchanges to be announced soon.

Bitcoinist, another well-respected crypto news website, explained how Blockster users could join groups and access the real-time market data feed on ‘Blockwatch’ to keep up to date on the price action of all the major coins.

The article also describes how writers, influencers, and crypto personalities are already populating the network with high-quality content and inviting friends before it opens to the general public.

Youtube Influencers Are Loving Blockster Too

‘Crypto Profit,’ a 90k-subscriber channel dedicated to finding the hottest crypto-investment opportunities, highlighted the Blockster (BXR) token potential. Be sure to check out his assessment and why he believes this social network “will do very very well.”

‘Ryan Matta’, an experienced miner, trader, and crypto investor, stated that “getting in on an ICO at this price can potentially be very very profitable… this could be the next Facebook of crypto.”

‘Expert Para,’ a 284k-subscriber YouTuber in Turkey, also extensively covered Blockster’s Social Network features and the BXR token IEO taking place on Digitex’s Blockfunder.

Token Sale Starts on June 7, Don’t Miss Out!

Blockster has been under development for over a year and is now in its final testing stages. The token sale through Digitex’s Blockfunder IEO platform will kick off on Monday, June 7 at 12pm UTC.

Blockster in the News – Check Out the Media Highlights 15

The BXR token will start out at $1 and gradually increase over the six phases, so the earlier you join, the higher the potential gains.

For DGTX token holders, there’s some good news here as well. DGTX will be the only currency accepted in three of the six phases, allowing Digitex to collect a lot of its circulating supply and give the exchange’s native token a chance to recapture value. 

Taking part in the BXR token sale is easy! Click here, complete a quick KYC check, read and sign the terms and conditions, and purchase BXR tokens with the cryptocurrency accepted during the sale phase.

Blockster in the News – Check Out the Media Highlights 16

Refer Friends and Earn Free Tokens

You can earn more BXR tokens by referring the IEO to your friends and earning 10% of their BXR purchases. Don’t miss this chance to earn more tokens, by signing up to Blockfunder and creating a unique referral link.

Share it on your social profiles or send it to your friends. Each time your link is used to complete a purchase, you will be automatically rewarded. Don’t miss this chance to get in on this exciting project at the early stages!

BXR Token — Keep Updated Using Our Telegram

We invite you to join our Telegram channel as we prepare to release our testnet to the public. All updates about Blockster and BXR will be published there. For any questions you can also hit us up on any of our socials or contact our live support.

June 4, 2021
Digitex
Crypto Industry

Blockster in the News – Check Out the Media Highlights

Digitex
blockster

We’re super excited about the launch of Blockster social network, and can’t wait to become the go-to place for all things crypto–and it seems as if we’re not the only ones! Blockster has been garnering a lot of attention in the media recently, with bloth influencers and crypto news sites eager to talk about its awesome features, and celebrate the launch of an entirely new social hub dedicated to crypto hustlers like you.

With Blockster, you no longer need to access multiple websites and apps to find news, educational articles, expert takes, and discussion groups for your topics of interest. Regardless of your knowledge level, every Blockster can make money on their digital assets.

What Are People Saying?

CryptoSlate covered the Blockfunder IEO token launch platform debut, where the financing and fast-tracking of selected projects will take place. Digitex’s due diligence ensures only high-quality offerings will be available, and there’s no better way to kick it all off than with Blockster Social Network’s native token, BXR.

The BXR token is the only accepted payment method for Blockster advertisers, and all commerce inside the platform, such as purchasing NFTs. It will be available for sale starting Monday, June 7. Upon completion of the six phases of the token sale, BXR will be initially listed on Digitex and Uniswap, with other major exchanges to be announced soon.

Bitcoinist, another well-respected crypto news website, explained how Blockster users could join groups and access the real-time market data feed on ‘Blockwatch’ to keep up to date on the price action of all the major coins.

The article also describes how writers, influencers, and crypto personalities are already populating the network with high-quality content and inviting friends before it opens to the general public.

Youtube Influencers Are Loving Blockster Too

‘Crypto Profit,’ a 90k-subscriber channel dedicated to finding the hottest crypto-investment opportunities, highlighted the Blockster (BXR) token potential. Be sure to check out his assessment and why he believes this social network “will do very very well.”

‘Ryan Matta’, an experienced miner, trader, and crypto investor, stated that “getting in on an ICO at this price can potentially be very very profitable… this could be the next Facebook of crypto.”

‘Expert Para,’ a 284k-subscriber YouTuber in Turkey, also extensively covered Blockster’s Social Network features and the BXR token IEO taking place on Digitex’s Blockfunder.

Token Sale Starts on June 7, Don’t Miss Out!

Blockster has been under development for over a year and is now in its final testing stages. The token sale through Digitex’s Blockfunder IEO platform will kick off on Monday, June 7 at 12pm UTC.

Blockster in the News – Check Out the Media Highlights 17

The BXR token will start out at $1 and gradually increase over the six phases, so the earlier you join, the higher the potential gains.

For DGTX token holders, there’s some good news here as well. DGTX will be the only currency accepted in three of the six phases, allowing Digitex to collect a lot of its circulating supply and give the exchange’s native token a chance to recapture value. 

Taking part in the BXR token sale is easy! Click here, complete a quick KYC check, read and sign the terms and conditions, and purchase BXR tokens with the cryptocurrency accepted during the sale phase.

Blockster in the News – Check Out the Media Highlights 18

Refer Friends and Earn Free Tokens

You can earn more BXR tokens by referring the IEO to your friends and earning 10% of their BXR purchases. Don’t miss this chance to earn more tokens, by signing up to Blockfunder and creating a unique referral link.

Share it on your social profiles or send it to your friends. Each time your link is used to complete a purchase, you will be automatically rewarded. Don’t miss this chance to get in on this exciting project at the early stages!

BXR Token — Keep Updated Using Our Telegram

We invite you to join our Telegram channel as we prepare to release our testnet to the public. All updates about Blockster and BXR will be published there. For any questions you can also hit us up on any of our socials or contact our live support.

Latest News

blockster

All About Blockster – The Go-to Social Network for Crypto

Crypto Industry
• Digitex
June 3, 2021

If you’ve been keeping tabs on Digitex lately, you’ll know all about Blockfunder, our brand-new IEO platform. Through Blockfunder, we’ll be helping to fast-track and finance promising crypto projects starting with our very own in-house platform, Blockster, the go-to social network for crypto enthusiasts. 

What Is Blockster?

Blockster is a one-stop-shop for all things crypto and blockchain related, with a specific focus on making money. Driven by user-generated content, on Blockster, you can create your own profile, connect to a thriving network of like minded people, upload content on the Blockdesk blog, host video calls, create groups, and stay up-to-date with the very latest news via a Facebook-style news feed.

Blockster comes complete with Blockwatch, a cryptocurrency data aggregator like CoinMarketCap, that tracks the price action of the top 500 coins. There is also a mobile app and hot NFT marketplace coming soon where you can trade some of the most exciting digital collectibles.

There’s even a section dedicated to education and learning, called Blockademy, which is an ever-expanding knowledge base of articles, guides, and how-to videos about all things crypto. Unlike some of the tribalism and toxicity inherent in other platforms, Blockademy promotes open learning, and is the perfect place for newcomers and experts alike to converge to expand their knowledge of digital assets.

At a time when crypto is becoming increasingly more mainstream and when existing participants have to navigate various different social platforms to get the content they seek, Blockster brings everything under one roof. With a fully featured social network that will forge partnerships with all the main personalities and crypto projects in the space, and provide all the benefits of Telegram, Facebook, YouTube, Twitter, CoinMarketCap, and more, Blockster will become the go-to network for crypto.

The Blockster (BXR) Token

The Blockster (BXR) token is the native utility token of the Blockster network and will be used to settle all transactions in the ecosystem, as well as for holders to engage in staking programs to enhance their earnings. BXR will be used by advertisers who can promote their projects to a highly targeted and engaged audience, without the threat of being deplatformed or censored. BXR will also be used for other activities in the platform such as tipping content, buying NFTs and other services, and voting on key matters affecting the development of the platform.

BXR stakers will earn 20% of all the advertising revenue on the platform. The more users the network attracts, the higher the rates for advertising, and the larger the staking rewards. BXR holders can also stake their tokens through the Blockfarm yield farming platform on the Digitex exchange.

Blockster will serve to enrich the Digitex ecosystem of products and all traffic from the Blockster site will be directed to the Digitex exchange, either to trade zero fee or earn rewards through our various staking programs. This will benefit all the tokens listed on Digitex and create a continuous positive feedback loop as both the social network and exchange grow in popularity. 

BXR Token Sale

Blockster has already been under development for over a year and is now in its final testing stages. The token sale through Blockfunder will kick off on Monday, June 7, and will take place as a staggered sale over six phases.

All About Blockster - The Go-to Social Network for Crypto 19

As you can see from the above image, the earlier you participate in the BXR token sale, the better value you get for your money. The BXR token will start out at a price of $1 and gradually increase over the six phases. As one of our main aims with Blockfunder is to increase the utility of the DGTX token, throughout three of the six phases, we will only accept DGTX as payment, thus giving us the chance to collect a large amount of the circulating supply of DGTX, allowing it to recapture value.

Taking part in the BXR token sale is easy. Simply click on this link here, undergo a quick KYC check, read and sign the terms and conditions, and purchase BXR tokens with the cryptocurrency accepted during the phase of the sale.

All About Blockster - The Go-to Social Network for Crypto 20

Refer Friends to Earn BXR

We hope you love our plans for Blockster as much as we do and are looking forward to participating in the token sale on Monday. And if you want the chance to earn more BXR tokens, don’t forget to refer your friends! We have a generous referral program in which you can earn 10% of all your friends’ BXR purchases.

To take part, once you’ve signed up to Blockfunder, simply create a unique referral link to post on your social profiles or send to your friends via email, text, or chat. Each time your link is used to complete a purchase, you will receive 10% in BXR tokens.

Wrapping It Up

Blockster is the social network that the crypto space has been missing, housing all types of content and key functionality under one roof and connected to our zero-fee trading and staking platform. Don’t miss this chance to get in on this exciting project at the early stages and register for the token sale and get your referral link today.

June 3, 2021
Crypto Industry

All About Blockster – The Go-to Social Network for Crypto

Digitex
blockster

If you’ve been keeping tabs on Digitex lately, you’ll know all about Blockfunder, our brand-new IEO platform. Through Blockfunder, we’ll be helping to fast-track and finance promising crypto projects starting with our very own in-house platform, Blockster, the go-to social network for crypto enthusiasts. 

What Is Blockster?

Blockster is a one-stop-shop for all things crypto and blockchain related, with a specific focus on making money. Driven by user-generated content, on Blockster, you can create your own profile, connect to a thriving network of like minded people, upload content on the Blockdesk blog, host video calls, create groups, and stay up-to-date with the very latest news via a Facebook-style news feed.

Blockster comes complete with Blockwatch, a cryptocurrency data aggregator like CoinMarketCap, that tracks the price action of the top 500 coins. There is also a mobile app and hot NFT marketplace coming soon where you can trade some of the most exciting digital collectibles.

There’s even a section dedicated to education and learning, called Blockademy, which is an ever-expanding knowledge base of articles, guides, and how-to videos about all things crypto. Unlike some of the tribalism and toxicity inherent in other platforms, Blockademy promotes open learning, and is the perfect place for newcomers and experts alike to converge to expand their knowledge of digital assets.

At a time when crypto is becoming increasingly more mainstream and when existing participants have to navigate various different social platforms to get the content they seek, Blockster brings everything under one roof. With a fully featured social network that will forge partnerships with all the main personalities and crypto projects in the space, and provide all the benefits of Telegram, Facebook, YouTube, Twitter, CoinMarketCap, and more, Blockster will become the go-to network for crypto.

The Blockster (BXR) Token

The Blockster (BXR) token is the native utility token of the Blockster network and will be used to settle all transactions in the ecosystem, as well as for holders to engage in staking programs to enhance their earnings. BXR will be used by advertisers who can promote their projects to a highly targeted and engaged audience, without the threat of being deplatformed or censored. BXR will also be used for other activities in the platform such as tipping content, buying NFTs and other services, and voting on key matters affecting the development of the platform.

BXR stakers will earn 20% of all the advertising revenue on the platform. The more users the network attracts, the higher the rates for advertising, and the larger the staking rewards. BXR holders can also stake their tokens through the Blockfarm yield farming platform on the Digitex exchange.

Blockster will serve to enrich the Digitex ecosystem of products and all traffic from the Blockster site will be directed to the Digitex exchange, either to trade zero fee or earn rewards through our various staking programs. This will benefit all the tokens listed on Digitex and create a continuous positive feedback loop as both the social network and exchange grow in popularity. 

BXR Token Sale

Blockster has already been under development for over a year and is now in its final testing stages. The token sale through Blockfunder will kick off on Monday, June 7, and will take place as a staggered sale over six phases.

All About Blockster - The Go-to Social Network for Crypto 21

As you can see from the above image, the earlier you participate in the BXR token sale, the better value you get for your money. The BXR token will start out at a price of $1 and gradually increase over the six phases. As one of our main aims with Blockfunder is to increase the utility of the DGTX token, throughout three of the six phases, we will only accept DGTX as payment, thus giving us the chance to collect a large amount of the circulating supply of DGTX, allowing it to recapture value.

Taking part in the BXR token sale is easy. Simply click on this link here, undergo a quick KYC check, read and sign the terms and conditions, and purchase BXR tokens with the cryptocurrency accepted during the phase of the sale.

All About Blockster - The Go-to Social Network for Crypto 22

Refer Friends to Earn BXR

We hope you love our plans for Blockster as much as we do and are looking forward to participating in the token sale on Monday. And if you want the chance to earn more BXR tokens, don’t forget to refer your friends! We have a generous referral program in which you can earn 10% of all your friends’ BXR purchases.

To take part, once you’ve signed up to Blockfunder, simply create a unique referral link to post on your social profiles or send to your friends via email, text, or chat. Each time your link is used to complete a purchase, you will receive 10% in BXR tokens.

Wrapping It Up

Blockster is the social network that the crypto space has been missing, housing all types of content and key functionality under one roof and connected to our zero-fee trading and staking platform. Don’t miss this chance to get in on this exciting project at the early stages and register for the token sale and get your referral link today.

Latest News

4 Ways that Bitcoin Trading Volumes Impact Crypto Trading Strategies 23

4 Ways that Bitcoin Trading Volumes Impact Crypto Trading Strategies

Cryptocurrency
Crypto Industry
Trading
• Digitex
April 7, 2021

The Bitcoin trading volume is a crucial indicator for both cryptocurrency investors and traders.

According to a CoinDesk Markets survey, trading volume was ranked as the top indicator traders “couldn’t live without,” scoring 38% among all poll respondents.

Currently, the 24-hour BTC trading volume is standing at nearly $73 billion, which is up by 8% since the last day. 

4 Ways that Bitcoin Trading Volumes Impact Crypto Trading Strategies 24

But what is the Bitcoin trading volume, what does it tell us about the market, and how does it impact crypto trading strategies Let’s explore the answers to the above questions together in this article!

Bitcoin Trading Volume Explained

The Bitcoin trading volume measures how much BTC has been traded on cryptocurrency exchanges in a certain period of time (the most common timeframe is 24 hours).

For Bitcoin derivatives trading, the volume provides data about the number of futures or options contracts changing hands between buyers and sellers.

When buyers and sellers reach an agreement at a certain price for a trading pair (e.g., BTC/USD), the exchange facilitating the trade records the transaction and uses that data to calculate the trading volume for the digital asset.

For example, suppose Alice sells 1 BTC to Bob at $60,000. In that case, the facilitating exchange records a volume of either $60,000 or 1 BTC for the BTC/USD trading pair based on the currency the service uses for denominating it.

How Does the Bitcoin Trading Volume Impact Crypto Trading Strategies?

Whether you are day trading crypto or holding digital assets for the long-term, you can use the Bitcoin trading volume to gather valuable insights about the market.

For that reason, the Bitcoin trading volume has an impact on crypto trading strategies and the financial decisions of users.

Traders can use volumes to discover the following crypto trading signals:

  1. Confirm trends: During a bull market, a high trading volume with great enthusiasm from buyers is crucial to keep pushing prices upwards. For that reason, it’s usually a bullish signal when both the volume and the price are increasing. On the other hand, when a digital asset’s price is surging, but its trading volume is decreasing, it is a warning sign of an upcoming potential reversal.
  2. Exhaustion moves: Monitoring the trading volume is also an excellent way to identify exhaustion moves. Featuring a sharp move into any direction as well as a significant volume growth, an exhaustion move can indicate a trend’s potential end.
  3. Price reversals: After excessive price movements in either direction, a significantly high volume paired with minor changes in the price can indicate that a reversal is imminent, in which the asset’s value will move in the opposite direction.
  4. Dead projects: While there are over 9,100 cryptocurrencies present on the market, not all of them have active projects behind them. Monitoring the current and historical trading volume of a cryptocurrency is an excellent way to limit your risks by filtering out dead coins with very low daily volumes.

Closing Thoughts

When investing for the long term or day trading crypto, incorporating the Bitcoin trading volume in your strategy helps you discover crucial market trends and gather signals that support you to make the right decisions.

For that reason, it’s essential to adjust your crypto trading strategy to include the Bitcoin trading volume as part of your fundamental and technical analysis.

In the meantime, be sure to leverage your new digital asset trading strategies at the next-generation futures trading platform Digitex to trade crypto for free while enjoying the benefits of a robust exchange solution.

Also, you shouldn’t forget to check out DGTX, Digitex’s native exchange token, which you can buy now with a credit card

 

April 7, 2021
Cryptocurrency
Crypto Industry
Trading

4 Ways that Bitcoin Trading Volumes Impact Crypto Trading Strategies

Digitex
4 Ways that Bitcoin Trading Volumes Impact Crypto Trading Strategies 25

The Bitcoin trading volume is a crucial indicator for both cryptocurrency investors and traders.

According to a CoinDesk Markets survey, trading volume was ranked as the top indicator traders “couldn’t live without,” scoring 38% among all poll respondents.

Currently, the 24-hour BTC trading volume is standing at nearly $73 billion, which is up by 8% since the last day. 

4 Ways that Bitcoin Trading Volumes Impact Crypto Trading Strategies 26

But what is the Bitcoin trading volume, what does it tell us about the market, and how does it impact crypto trading strategies Let’s explore the answers to the above questions together in this article!

Bitcoin Trading Volume Explained

The Bitcoin trading volume measures how much BTC has been traded on cryptocurrency exchanges in a certain period of time (the most common timeframe is 24 hours).

For Bitcoin derivatives trading, the volume provides data about the number of futures or options contracts changing hands between buyers and sellers.

When buyers and sellers reach an agreement at a certain price for a trading pair (e.g., BTC/USD), the exchange facilitating the trade records the transaction and uses that data to calculate the trading volume for the digital asset.

For example, suppose Alice sells 1 BTC to Bob at $60,000. In that case, the facilitating exchange records a volume of either $60,000 or 1 BTC for the BTC/USD trading pair based on the currency the service uses for denominating it.

How Does the Bitcoin Trading Volume Impact Crypto Trading Strategies?

Whether you are day trading crypto or holding digital assets for the long-term, you can use the Bitcoin trading volume to gather valuable insights about the market.

For that reason, the Bitcoin trading volume has an impact on crypto trading strategies and the financial decisions of users.

Traders can use volumes to discover the following crypto trading signals:

  1. Confirm trends: During a bull market, a high trading volume with great enthusiasm from buyers is crucial to keep pushing prices upwards. For that reason, it’s usually a bullish signal when both the volume and the price are increasing. On the other hand, when a digital asset’s price is surging, but its trading volume is decreasing, it is a warning sign of an upcoming potential reversal.
  2. Exhaustion moves: Monitoring the trading volume is also an excellent way to identify exhaustion moves. Featuring a sharp move into any direction as well as a significant volume growth, an exhaustion move can indicate a trend’s potential end.
  3. Price reversals: After excessive price movements in either direction, a significantly high volume paired with minor changes in the price can indicate that a reversal is imminent, in which the asset’s value will move in the opposite direction.
  4. Dead projects: While there are over 9,100 cryptocurrencies present on the market, not all of them have active projects behind them. Monitoring the current and historical trading volume of a cryptocurrency is an excellent way to limit your risks by filtering out dead coins with very low daily volumes.

Closing Thoughts

When investing for the long term or day trading crypto, incorporating the Bitcoin trading volume in your strategy helps you discover crucial market trends and gather signals that support you to make the right decisions.

For that reason, it’s essential to adjust your crypto trading strategy to include the Bitcoin trading volume as part of your fundamental and technical analysis.

In the meantime, be sure to leverage your new digital asset trading strategies at the next-generation futures trading platform Digitex to trade crypto for free while enjoying the benefits of a robust exchange solution.

Also, you shouldn’t forget to check out DGTX, Digitex’s native exchange token, which you can buy now with a credit card

 

Latest News

How Long Before Ethereum Fees Get Lower? 27

How Long Before Ethereum Fees Get Lower?

Cryptocurrency
Crypto Industry
• Digitex
April 5, 2021

Ethereum has been grabbing the headlines a lot lately. From the rising popularity of DeFi and NFTs to being Visa’s blockchain of choice for settling its first transaction, ETH price has been on the up, recently marking its latest all-time high of over $2,100. All this action surrounding the premier altcoin has undoubtedly been bullish for HODLers and yield farmers. But, what about regular users trying to interact with the Ethereum blockchain? 

Rising gas fees on the network have been pricing them out of the market. According to  BitInfoCharts, this time last year, the average transaction fee on the Ethereum network was around 8 cents. Today, users are facing regular averages of around $20 just to move funds, calling the promise of low fees and near-instant transfers of value into question. And for traders looking to avoid the volatility of cryptocurrencies by using stablecoins, such as the ERC20 versions of USDT or USDC on Ethereum, high fees create a barrier.

In tandem with rising fees comes rising network congestion. Not only do users have to pay prices on a par with PayPal to move their funds but they also have to wait for lengthy periods of time to do so. While the solution to all these problems is touted to be the long-awaited transition to a Proof of Stake blockchain (ETH 2.0), that could be a long time coming. So, how long will users really have to wait before Ethereum fees get lower?

Optimistic Rollups

Ethereum users cannot wait for years to resolve the problem of high fees as DeFi grows and Ethereum attracts increasing attention from investors. Interim solutions are needed in the meantime. Even Vitalik Buterin recognized that Ethereum scaling was a top priority  and that a solution in the shape of optimistic rollups was on the cards very soon.

How Long Before Ethereum Fees Get Lower? 28

If you think of the blockchain in layers, Ethereum is a layer 1 protocol, whereas rollups are a layer 2 solution that aggregate transactions and store them inside smart contracts to reduce congestion on the network and bring gas fees down.  

The concept of rollups was first described way back in 2014, but they were referred to as “shadow chains.” And now that network congestion and fees have been thrust into the limelight once more, their utility is back on the table. How long will it take for them to be implemented? Some projects such as Polygon (formerly Matic) have already started using them with success and, optimistically (groan), rollups could act as the mid-term solution for Ethereum.

Berlin Hard Fork

Another solution for gas fees may lie in the upcoming Berlin Hard Fork, slated to take place on April 14, 2021. Months in the planning, however, it’s not certain just how much of a dent the hard fork will make in gas fees or whether it will improve congestion. Four main improvement protocols (EIPs) will be deployed in Berlin to make the network more robust and hacker-resistant, as well as tackling gas fees. 

But different analysts have questioned how much of an effect the Berlin hard fork will really have on gas fees, citing that Ethereum has deep structural changes that need to be resolved for it to scale first before sustainable gas fees are achieved. 

Competing Blockchains

In the meantime, cryptocurrency industry participants are not sitting idle. Several PoS smart contract blockchains from Solana to Algorand have already started rolling out solutions to help traders avoid Ethereum’s high gas fees.

By running stablecoins like USDC and USDT on these blockchains, traders can move their funds from a crypto like BTC or ETH into a stablecoin almost instantly and for a cost of next to nothing. This is particularly appealing to high-frequency traders and users who simply want to move small-to-modest amounts of value without paying exorbitant fees.

There is also an increasing number of blockchains integrating EVM compatibility. This allows any smart contract deployed on the Ethereum blockchain to be deployed on them. dApp developers being priced out of the market by high fees can easily migrate their dApps to one of these blockchains and continue to develop without the high cost.

However, most of these come with trade-offs and are arguably centralized or flawed in some form or another. Moreover, network effect isn’t something that you simply knock out of the park straight away. Ethereum has much longer time in the market and still far and away the largest developer community, and number of dApps in the cryptosphere. It’s also the backbone of the majority of DeFi projects and is well-recognized now among a growing class of institutional investors.

Closing Thoughts

The upcoming Berlin hard fork could give network users some temporary relief as far as high gas fees go and optimistic rollups seem to be the next likely major step forward for Ethereum before it transitions to ETH 2.0. 

With a little bit of luck, we might expect to see lower gas fees on Ethereum by the middle of this month and at least sustainable rates coming soon while we wait for ETH 2.0. In the meantime, Ethereum will certainly be keeping its eyes open to the cohort of high throughput blockchains that are springing up around it promising faster transactions and lower costs. 

Want to trade ETH futures with zero commissions on crypto’s only trading ladder interface? Sign up for a KYC-free account and start making gains now.

April 5, 2021
Cryptocurrency
Crypto Industry

How Long Before Ethereum Fees Get Lower?

Digitex
How Long Before Ethereum Fees Get Lower? 29

Ethereum has been grabbing the headlines a lot lately. From the rising popularity of DeFi and NFTs to being Visa’s blockchain of choice for settling its first transaction, ETH price has been on the up, recently marking its latest all-time high of over $2,100. All this action surrounding the premier altcoin has undoubtedly been bullish for HODLers and yield farmers. But, what about regular users trying to interact with the Ethereum blockchain? 

Rising gas fees on the network have been pricing them out of the market. According to  BitInfoCharts, this time last year, the average transaction fee on the Ethereum network was around 8 cents. Today, users are facing regular averages of around $20 just to move funds, calling the promise of low fees and near-instant transfers of value into question. And for traders looking to avoid the volatility of cryptocurrencies by using stablecoins, such as the ERC20 versions of USDT or USDC on Ethereum, high fees create a barrier.

In tandem with rising fees comes rising network congestion. Not only do users have to pay prices on a par with PayPal to move their funds but they also have to wait for lengthy periods of time to do so. While the solution to all these problems is touted to be the long-awaited transition to a Proof of Stake blockchain (ETH 2.0), that could be a long time coming. So, how long will users really have to wait before Ethereum fees get lower?

Optimistic Rollups

Ethereum users cannot wait for years to resolve the problem of high fees as DeFi grows and Ethereum attracts increasing attention from investors. Interim solutions are needed in the meantime. Even Vitalik Buterin recognized that Ethereum scaling was a top priority  and that a solution in the shape of optimistic rollups was on the cards very soon.

How Long Before Ethereum Fees Get Lower? 30

If you think of the blockchain in layers, Ethereum is a layer 1 protocol, whereas rollups are a layer 2 solution that aggregate transactions and store them inside smart contracts to reduce congestion on the network and bring gas fees down.  

The concept of rollups was first described way back in 2014, but they were referred to as “shadow chains.” And now that network congestion and fees have been thrust into the limelight once more, their utility is back on the table. How long will it take for them to be implemented? Some projects such as Polygon (formerly Matic) have already started using them with success and, optimistically (groan), rollups could act as the mid-term solution for Ethereum.

Berlin Hard Fork

Another solution for gas fees may lie in the upcoming Berlin Hard Fork, slated to take place on April 14, 2021. Months in the planning, however, it’s not certain just how much of a dent the hard fork will make in gas fees or whether it will improve congestion. Four main improvement protocols (EIPs) will be deployed in Berlin to make the network more robust and hacker-resistant, as well as tackling gas fees. 

But different analysts have questioned how much of an effect the Berlin hard fork will really have on gas fees, citing that Ethereum has deep structural changes that need to be resolved for it to scale first before sustainable gas fees are achieved. 

Competing Blockchains

In the meantime, cryptocurrency industry participants are not sitting idle. Several PoS smart contract blockchains from Solana to Algorand have already started rolling out solutions to help traders avoid Ethereum’s high gas fees.

By running stablecoins like USDC and USDT on these blockchains, traders can move their funds from a crypto like BTC or ETH into a stablecoin almost instantly and for a cost of next to nothing. This is particularly appealing to high-frequency traders and users who simply want to move small-to-modest amounts of value without paying exorbitant fees.

There is also an increasing number of blockchains integrating EVM compatibility. This allows any smart contract deployed on the Ethereum blockchain to be deployed on them. dApp developers being priced out of the market by high fees can easily migrate their dApps to one of these blockchains and continue to develop without the high cost.

However, most of these come with trade-offs and are arguably centralized or flawed in some form or another. Moreover, network effect isn’t something that you simply knock out of the park straight away. Ethereum has much longer time in the market and still far and away the largest developer community, and number of dApps in the cryptosphere. It’s also the backbone of the majority of DeFi projects and is well-recognized now among a growing class of institutional investors.

Closing Thoughts

The upcoming Berlin hard fork could give network users some temporary relief as far as high gas fees go and optimistic rollups seem to be the next likely major step forward for Ethereum before it transitions to ETH 2.0. 

With a little bit of luck, we might expect to see lower gas fees on Ethereum by the middle of this month and at least sustainable rates coming soon while we wait for ETH 2.0. In the meantime, Ethereum will certainly be keeping its eyes open to the cohort of high throughput blockchains that are springing up around it promising faster transactions and lower costs. 

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Fintech

Watch Adam’s Keynote at Fintech-Aviv

Crypto Industry
• Digitex
July 23, 2020

We’re proud to announce that earlier this week, Adam was invited as a keynote speaker at the Capital Markets Event held by Fintech-Aviv. Introduced as “one of the most outstanding figures in the industry” by Sheldon Freedman of Hassans, a leading international law firm, it was a fantastic opportunity to introduce Digitex to leading figures in the buzzing Israeli fin-tech scene. Watch Adam’s keynote below.

Israel has more than 500 fintech firms ranging from startup to unicorns. Fintech-Aviv is their representative body as the Israeli fintech association. It regularly holds events hosting senior figures from the financial sector. As Adam himself said, he is usually “the crypto guy” so it was a unique opportunity to present the Digitex model to a new audience.

Adam started off by introducing himself with reference to his own background, coming from the trading pits where commissions could be the death of profitability for a scalper like him. He went on to explain how he had developed the idea of Digitex as a zero-commissions trading venue that funds itself using a proprietary token.

While he acknowledged that many of the previous attempted use cases for blockchain were tenuous at best, he demonstrated to the audience that an exchange such as Digitex represents a valuable use case for blockchain.

This utility is self-evident from the massive liquidity that the DFE is generating, even prior to the public launch date. What’s more, as Adam points out, the DFE is launching at a time when many people will be looking for new ways to make money. As a trading platform with zero fees and no house edge, Digitex is primed to take off and change the way traders trade forever.

Thanks to the team at Fintech-Aviv for the opportunity to introduce Digitex to a new audience and for hosting Adam. 

 

July 23, 2020
Crypto Industry

Watch Adam’s Keynote at Fintech-Aviv

Digitex
Fintech

We’re proud to announce that earlier this week, Adam was invited as a keynote speaker at the Capital Markets Event held by Fintech-Aviv. Introduced as “one of the most outstanding figures in the industry” by Sheldon Freedman of Hassans, a leading international law firm, it was a fantastic opportunity to introduce Digitex to leading figures in the buzzing Israeli fin-tech scene. Watch Adam’s keynote below.

Israel has more than 500 fintech firms ranging from startup to unicorns. Fintech-Aviv is their representative body as the Israeli fintech association. It regularly holds events hosting senior figures from the financial sector. As Adam himself said, he is usually “the crypto guy” so it was a unique opportunity to present the Digitex model to a new audience.

Adam started off by introducing himself with reference to his own background, coming from the trading pits where commissions could be the death of profitability for a scalper like him. He went on to explain how he had developed the idea of Digitex as a zero-commissions trading venue that funds itself using a proprietary token.

While he acknowledged that many of the previous attempted use cases for blockchain were tenuous at best, he demonstrated to the audience that an exchange such as Digitex represents a valuable use case for blockchain.

This utility is self-evident from the massive liquidity that the DFE is generating, even prior to the public launch date. What’s more, as Adam points out, the DFE is launching at a time when many people will be looking for new ways to make money. As a trading platform with zero fees and no house edge, Digitex is primed to take off and change the way traders trade forever.

Thanks to the team at Fintech-Aviv for the opportunity to introduce Digitex to a new audience and for hosting Adam. 

 

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