Blockchain
LBank Exchange Will List RIZON (ATOLO) on January 24, 2022
Internet City, Dubai–(Newsfile Corp. – January 21, 2022) – LBank Exchange, a global digital asset trading platform, will list RIZON (ATOLO) on January 24, 2022. For all users of LBank Exchange, the ATOLO/USDT trading pair will be officially available for trading at 20:00 (UTC+8) on January 24, 2022.
Figure 1: LBank Exchange Will List RIZON (ATOLO) on January 24, 2022
Aiming to become the financial hub for digital assets and businesses, RIZON (ATOLO) provide a platform where fiat currencies around the world can be securely issued on and enable businesses to interoperate with each other through the Cosmos IBC module. Its native token ATOLO will be listed on LBank Exchange at 20:00 (UTC+8) on January 24, 2022, to further expand its global reach and help it achieve its vision.
Introducing RIZON
RIZON is a digital currency & asset hub, and a decentralized network platform that helps one to connect other blockchain and build one’s own network easily. It utilizes Tendermint engine and Cosmos IBC (Inter-Blockchain Communication) Protocol to enable optimal business scalability and usability. Modules supported in RIZON allow decentralized governance and issuance of stablecoins. With RIZON Blockchain, businesses can significantly reduce operational costs while facilitating instant exchange of assets and horizontal expansion across borders. Interconnected businesses on RIZON can scale without constraint while maintaining sovereignty and staying blockchain agnostic. RIZON supports governance for minting digital assets, business module for identity verification, internet of things business module, non-fungible token business module and more.
The core features of RIZON provide advantages for it compared to other programs. With RIZON, one can instantly swap assets between sovereign networks with liquidity supplemented by secure stablecoins, and maximize business profitability by reducing third party intervention and employing lower payment fees. One can also securely mint governance or non-governance assets for various use-cases, and scale businesses horizontally through IBC Protocol and reduced costs in acquiring secure validator and relayer sets. To help secure the advanced RIZON network, ATOLO, the native token of RIZON, plays an important role in RIZON ecosystem.
About ATOLO Token
The RIZON Blockchain is a public Delegated Proof-of-Stake (DPoS) blockchain, meaning that the weight of validators is determined by the amount of staking tokens (ATOLO) bonded as collateral. These ATOLO can be self-delegated directly by the validator or delegated to them by other ATOLO holders. To participate in governance, validators and delegators on the RIZON Blockchain can vote on proposals to change operational parameters (such as the block gas limit), coordinate upgrades, or make a decision on any given matter.
The ATOLO token will be listed on LBank Exchange at 20:00 (UTC+8) on January 24, 2022, investors who are interested in RIZON investment can easily buy and sell ATOLO on LBank Exchange by then. The listing of ATOLO on LBank Exchange will undoubtedly help it further expand its business and draw more attention in the market.
Learn More about ATOLO Token:
Official Website: https://rizon.world/
Telegram: https://t.me/rizon_atolo_en
Twitter: https://twitter.com/hdac_rizon
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. It has become one of the most popular and trusted crypto trading platforms with over 6.4 million users from now more than 210 regions around the world.
Start Trading Now: lbank.info
Community & Social Media:
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Contact Details:
LBK Blockchain Co. Limited
LBank Exchange
[email protected]
PR Contact –
ZEXPRWIRE
[email protected]
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/111092
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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