Blockchain
LBank Exchange Will List Phaeton (PHAE) on December 16, 2021
Internet City, Dubai–(Newsfile Corp. – December 14, 2021) – LBank Exchange, a global digital asset trading platform, will list Phaeton (PHAE) coins on December 16, 2021. Accordingly, for all users of LBank Exchange, the PHAE/USDT trading pair will be officially available for trading at 18:00 (UTC+8) on December 16, 2021.
Figure 1: LBank Exchange Will List Phaeton (PHAE) on December 16, 2021
Phaeton is here to create sustainable environments for future generations with a philosophy of utilizing blockchain technology to make the world a better place for all communities. Its native PHAE coin will be listed on LBank Exchange at 18:00 (UTC+8) on December 16, 2021, to expand its global reach further and help it achieve its vision.
Introducing Phaeton
Phaeton is a blockchain technology and services company that has created a blockchain platform to make a social impact. With a suite of established technology, Phaeton Technology, under a strong management structure, is creating a social impact platform that incubates, develops, and collaborates with new and established business enterprises that address social and environmental challenges in line with the United Nation’s Sustainable Development Goals.
With a mission of finding current social problems within its communities, Phaeton seeks solutions through blockchain technology. Phaeton wants to collaborate with all business levels, government agencies, not-for-profit organizations, impact investors, philanthropists and technologists. Plus, any other enterprise that wants to make a social change. These include affordable housing and community development, renewable energy and conservation, carbon credits and climate change, health and wellness, education and social infrastructure, small business and microfinance, sustainable products and agriculture, supply chain management and more.
Phaeton Blockchain has a decentralized ledger system with a 250kb block size (potential of one million transactions) and five-second creation time. It’s based upon the Delegated Proof of Stake plus Delegated Byzantine Fault Tolerance (DPoS + dBFT) consensus algorithm, improving energy efficiency. Phaeton remains an independent blockchain that focuses on providing a platform for enterprises to use, whether for monetary, transaction, data or smart contracts. The ability for individuals to host a node is critical for the speed, scalability and security of the blockchain.
There are also Phaeton branded projects that compose the Phaeton Ecosystem. These include Phaeton Network, the first of its kind Modular Off-grid Data Centres aimed at reducing carbon emissions. Phaeton Smarter Housing, a new generation of housing that incorporates the latest digital and construction technology. Phaeton Real Estate TNFT Marketplace, where real estate enthusiasts and investors can trade TNFTs. Phaeton Artemis Nodes are full nodes with a Staking model responsible for validating transactions to maintain the consensus algorithm. Phaeton Identity, a blockchain identity management solution; and so on.
Phaeton intends to test most of the branded projects in Australia to ensure its success. After that, the aim would be to promote these internationally. Approached by three stockbroking organizations to list on the Stock Exchange, including the ASX, TSX and NASDAQ, Phaeton is pursuing the latter intending to list in 2022 formally.
About PHAE Coin
The PHAE Coin is the native coin to Phaeton Blockchain and is used for transaction fees, delegates and rewards in the ecosystem. All staking interactions on the Phaeton Blockchain ecosystems are done through PHAE, governed by the validators part of the DPoS community. This Governance model empowers holders of PHAE coins in real terms regarding the platform’s governance.
PHAE coin will be listed on LBank Exchange at 18:00 (UTC+8) on December 16, 2021. Investors interested in Phaeton investment can easily buy and sell PHAE coins on LBank Exchange by then.
The PHAE Coin is a commodity-backed cryptocurrency. Due to the smart contract and sidechain functionalities that enable the development of solution suites on the Phaeton blockchain, Phaeton has developed various solutions on the blockchain that will be launching soon. The solutions so designed are variant and span industries such as identity management, TNFT real estate, Internet of Things, Carbon credit and Cryptocurrency Staking.
Some of the projects launching soon are Phaeton Real Estate, Phaeton identity, and Phaeton Smarter Homes. Phaeton Real Estate is a TNFT real estate project that will see Phaeton construct a series of estates for residential and commercial purposes. The company plans to site some of its data centers and power facilities within these estates. Smart Identity aims to use blockchain technology to solve identity management problems without compromising the users’ privacy. Phaeton Smart identity seeks to give control to the owners of data and create a unified identity for users across all possible domains. Finally, Phaeton Smarter Homes is an Internet of Things solution that leverages blockchain solutions to present a secure, safe, and fast interconnection of home appliances and energy supply for comfortable use and energy efficiency.
Learn More about PHAE Coin:
Official Website: https://phaeton.io/
Twitter: https://twitter.com/PhaetonOfficial
Facebook: https://www.facebook.com/phaeton.io/
Instagram: https://www.instagram.com/phaetontechnology/
Telegram: https://t.me/Phaeton_Official
About LBank Exchange
LBank Exchange, founded in 2015, is an innovative global trading platform for various crypto assets. LBank Exchange provides its users with safe crypto trading, specialized financial derivatives, and professional asset management services. As a result, it has become one of the most popular and trusted crypto trading platforms, with over 6.4 million users from more than 210 regions worldwide.
Visit us on social media:
Contact Details:
LBK Blockchain Co. Limited
LBank Exchange
[email protected]
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/107509
Blockchain
Halving weakness sees $206 million exit crypto funds, Bitcoin miners pivot to AI
Leading up to Friday’s Bitcoin (BTC) halving, investors opted to remain on the sidelines rather than increase their exposure to cryptocurrencies. CoinShares’ latest report on digital asset fund flows reveals that crypto funds experienced $206 million in outflows last week, while trading volumes for Exchange-Traded Products (ETPs) dropped to $18 billion.
James Butterfill, head of research at CoinShares, noted, “These volumes represent a lower percentage of total Bitcoin volumes (which continue to rise) at 28%, compared to 55% a month ago.” He attributed this decline in investor appetite to expectations that the Federal Reserve would maintain interest rates at elevated levels for a longer duration.
In terms of regional flows, the United States led the outflows with $244 million exiting incumbent ETFs by the week ending April 19. Butterfill highlighted that newly issued ETFs still received inflows, albeit at lower levels compared to previous weeks. Germany and Sweden saw outflows of $8.3 million and $6.7 million, respectively, while Canada experienced inflows of $29.9 million. Switzerland, Brazil, and Australia also witnessed inflows of $7.8 million, $5.5 million, and $2.2 million, respectively.
Butterfill observed that although Bitcoin saw outflows of $192 million, there were minimal flows into short-Bitcoin positions. Ethereum (ETH) experienced outflows of $34 million for the sixth consecutive week. However, multi-asset funds saw improved sentiment, attracting $8.6 million in inflows. Additionally, Litecoin (LTC) and Chainlink (LINK) received inflows of $3.2 million and $1.7 million, respectively.
The report highlighted that blockchain equities sustained their 11th consecutive week of outflows, totaling $9 million, as investors remained concerned about the halving’s impact on mining companies.
In a separate analysis of the post-halving crypto mining industry, CoinShares analysts suggested that many miners might transition to serving the artificial intelligence (AI) sector, which has become more lucrative. They anticipated a shift towards AI in energy-secure locations, potentially leading to Bitcoin mining operations relocating to stranded energy sites.
The analysts projected a 10% decline in the Bitcoin network’s hash rate after the halving as miners deactivate unprofitable ASICs. However, they expected the hash rate to reach 700 exahash (EH/s) by 2025. As of the current data, the Bitcoin hash rate stands at 596.22 EH/s.
The report also noted that substantial cost increases are anticipated due to the halving, with electricity and production costs nearly doubling. Mitigation strategies include optimizing energy costs, enhancing mining efficiency, and securing favorable hardware procurement terms. Miners are actively managing financial liabilities, with some utilizing excess cash to significantly reduce debt.
Source: kitco.com
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Blockchain
NYSE gauges interest in 24/7 stock trading like crypto
According to reports, the New York Stock Exchange (NYSE) is exploring the possibility of introducing round-the-clock trading, a model akin to that of cryptocurrency markets. In a bid to gauge market sentiment, NYSE’s data analytics team has circulated a survey among market participants. The survey seeks feedback on whether there is support for 24/7 or extended weekday trading hours and, if so, what measures should be implemented to safeguard traders against overnight price fluctuations. As of now, NYSE, alongside Nasdaq and the Chicago Board Options Exchange, operates from Monday to Friday, spanning from 9:30 am to 4:00 pm Eastern Time.
In the United States, assets like cryptocurrencies, United States Treasurys, foreign exchange, and major stock index futures are already tradable 24/7. Certain brokerages, such as Robinhood and Interactive Brokers, provide access to U.S. stocks throughout the week via a “dark pool” trading venue, catering to international retail investors during their local trading hours.
However, recent reports indicated that Robinhood suspended its 24-hour trading services amidst heightened tensions between Israel and Iran, prompting concerns among investors regarding the sustainability of continuous trading.
Effectively managing liquidity in a 24/7 trading environment has proven challenging for trading platforms within the cryptocurrency industry.
According to cryptocurrency research firm Kaiko, there’s often a mismatch between the operating hours of traditional financial institutions and the needs of major crypto traders and market makers. Traders frequently find themselves losing sleep during periods of extreme market volatility.
While the results of NYSE’s survey haven’t been revealed, Tom Hearden, a senior trader at Skylands Capital, conducted his own poll among his 19,300 followers, asking if they would support NYSE transitioning to 24/7 trading hours. Interestingly, over 70% of the 1,459 respondents voted “No.”
NYSE’s survey coincides with the efforts of startup firm 24X National Exchange, which is seeking approval from the Securities and Exchange Commission (SEC) to launch the first exchange in the country operating round-the-clock.
The FT said, citing two persons familiar with the subject, that the SEC has “months” to study the proposed rule change, and other relevant issues, such who should shoulder expenses and the function of clearing houses, are already being considered by other stakeholders.
“How loud they will be playing in the middle of the night is unknown to me. However, the decision of whether something is commercially feasible or not actually shouldn’t be made by the SEC, James Angel, a Georgetown University finance professor, told FT.
“I support letting the market make the decision. We’re all better off if it succeeds, and the exchange’s stockholders lose out if it fails.
After the company withdrew an application in March 2023, alleging operational and technological concerns, it is the second attempt to receive SEC clearance.
Source: cointelegraph.com
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