Blockchain
Reflex Finance Poised to Moon, Breakout Crypto of 2022
Roermond, The Netherlands–(Newsfile Corp. – February 14, 2022) – Reflex Finance has recorded tremendous growth just a few days after its launch. According to the President and CEO of Reflex Finance Myles Tweedy, in the first 48 hours, 4,000 holders and 1 million dollars in BUSD had been paid out already.
“The people are what make this project so special. The team is fantastic. We have an amalgamation of developers from all over the DeFi space, with talent that has already proven themselves.”
Reflex Finance Logo
Disrupting the Crypto Industry
Tweedy mentioned that the primary focus of the Reflex project is to disrupt and revolutionise the industry for the benefit of the general crypto community.
Reflex’s launchpad aims to launch projects safely, fairly, and more hassle-free than the current competition. Reflex insures against rug pulls and scams.
Tweedy mentioned that crypto has to solve a problem or serve a purpose, and they will do both. Reflex will burn bad actors, and they will not allow people to be hurt any longer. “People are taken advantage of everyday, and it’s time to change that,” says Myles. The project also has proper customer support for faster contact with the users.
Earning Passive Income on Reflex
Staking rewards in the native token are available to members of the Reflex community who stake their $REFLEX tokens on the staking dapp. The Reflex Finance staking mechanism is unique in that stakers can get BUSD in addition to $REFLEX when they unstake.
If investors unstake the whole money and lose stake incentives, they will be penalized 10%. Reflex will lock in the investor’s stake’s APR. As a result, the holder, locked in at the current APR, will be unaffected regardless of whether the project develops or shrinks. The staking term extends from 7 to 180 days, with APRs ranging from 5% to 40%.
What the Future Holds For Reflex Finance
According to the Reflex CEO, the future is Reflex. The project has already announced the Legion Launchpad, a game-changer in the DeFi space for upcoming projects. For every project that chooses to embark on the Reflex platform, and for every investor who invests in those projects, the future is bright.
As the CEO puts it, Reflex is looking forward to working with so many upcoming teams and future DeFi leaders in their own right. He also firmly believes that steel sharpens steel. With his team working alongside these new projects day in and day out, the standard operating procedure becomes a product with near-perfect quality.
Reflex has many things lined up to create volume in its ecosystem. By Q4 2022, Tweedy believes that Reflex Finance will be one of the world’s top globally recognized crypto projects. “We’re going to take over completely, and our competitors should be worried about us.”
According to the roadmap, the marketing campaign has only recently begun. The Company anticipates an NFT marketplace, a $REFLEX staking pool, and dApp connectivity this first quarter. For the second quarter, there will be NFT giveaways, play-to-earn game launches and DEX listings, among others.
About Reflex Finance
Reflex Finance is a liquidity generating protocol with staking opportunities. Users can buy and hold $REFLEX then earn $BUSD. The project also includes an anti-whale mechanism to safeguard smaller investors. Reflex Finance creates value and engagement through multiple utilities released throughout 2022.
Website: https://reflexfinance.net/
Telegram: https://t.me/reflexfinanceOfficial
Twitter: https://twitter.com/Reflex_Finance
Instagram: https://www.instagram.com/reflexfinanceofficial/
YouTube: https://m.youtube.com/channel/UCIcGozPp0vTrLbtc83AgzFg
Discord: https://discord.gg/reflexfinance
Reddit: https://www.reddit.com/r/ReflexFinance/
Contact:
Ryan Bessems
Email: [email protected]
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/113722
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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