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LBank Weekly Listing Report, 29th August 2022

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Internet City, Dubai–(Newsfile Corp. – August 31, 2022) – As a world class digital asset exchange, LBank continues to focus on providing its users quality projects to participate in. Here is a weekly report made by LBank Exchange presenting this week’s exciting new listings and a summary of the ones listed last week, offering users more information to help better understand these unique opportunities.

New Listings on LBank Exchange

Scheduled this week starting on 29th August.

For a more complete list please follow our twitter @LBank_Exchange

Project: NUTSPAY
Listing date: 29th August
Key words: Listed on pancake, BSC
Official Website: https://nuts-pay.com/

About:

NutsPay, the new financial system revolutionizing and supporting the cashew nut market in Cambodia, provides financial services to the about 80% of the population who are unbanked and cannot save or invest. NutsPay will be the solution for this issue.

Project: ISLAMI
Listing date: 29th August
Key words: Public, Listed on digifinex, cointiger, Polygon
Official Website: https://islamicoin.finance

About:

ISLAMICOIN is the largest Islamic technology project that utilizes blockchain technology, in addition to media, commercial, financial, entertainment and charitable projects. The project aims to build an Islamic blockchain that helps achieve financial independence for individuals, companies and charitable organizations in the global Islamic community in addition to building a Decentralized Autonomous Organization (DAO) that operates according to Islamic Sharia in its content and transactions. ISLAMICOIN is a halal cryptocurrency and is the key for growing this project worldwide. ISLAMICOIN was initially launched on Polygon network, with plans to be transferred later to the ISLAMIBLOCKCHAIN network upon completion of its development that is utilizing the latest secure and reliable blockchain technologies.

Project: NUGEN
Listing date: 31st August
Key words: Utility, Initial listing, BSC
Official Website: https://nuts-pay.com/

About:

NUGEN is an all-in-one platform that yearns to capitalize on the market advantages of DeFi, crypto, NFT, and Metaverse through helping people adopt cryptocurrency to run their daily routine. The platform provides complete financial freedom by bestowing a plethora of services, including NUGEN Coin, Cryptocurrency Exchange, NFT Marketplace, Metaverse, ATMs, Banks, etc. Truly a one-stop shop for web3 admirers.

Project: GYMNET
Listing date: 1st September
Key words: Defi, Initial listing, BSC
Official Website: https://gymnetwork.io/

About:

GYMNET is the rewards token of GYM Network, a DeFi Aggregator Investment System, that will provide easy access and save holders time.

Project: LYNK
Listing date: 2nd September
Key words: NFT, Infrastructure, DeFi, Exchange, Wallet, Marketplace, Listed on uniswap, ERC20
Official Website: https://lynkey.com/

About:

LynKey is a blockchain-enabled ecosystem that provides timeshare and NFT solutions for luxurious holiday experiences for the global audience via smart contracts. The tourists, business travellers, travel agencies, tourism operators, hospitality chains, and property clients from all over the world are increasingly accepting this revolutionary scheme. The premium vacation property – resorts, hotels, marinas, and many more are sliced to smaller fractions as digital assets.

Summary of Last Week’s Listings -August 22nd to August 28th, 2022

Name: KENT
Weekly gain: 11320%
Official Website: https://kinetic-network.com/
Trade here: https://www.lbank.info/exchange/kent/usdt/#inno

Name: BION
Weekly gain: 9340%
Official Website: http://bion.company/
Trade here: https://www.lbank.info/exchange/bion/usdt/#inno

Name: IBAT
Weekly gain: 90%
Official Website: https://battleinfinity.io
Trade here: https://www.lbank.info/exchange/ibat/usdt/#inno

Name: 3ULL
Weekly gain: 4%
Official Website: https://playa3ull.games/
Trade here: https://www.lbank.info/exchange/3ull/usdt/#usd

Name: CODE
Official Website: https://www.developerdao.com/zh-CN
Trade here: https://www.lbank.info/exchange/code/usdt/#usd

Name: DC
Weekly gain: 8750%
Official Website: https://dogechain.dog/
Trade here: https://www.lbank.info/exchange/dc/usdt/#inno

Name: LUNAT
Weekly gain: 6%
Official Website: https://lunaticstoken.com/
Trade here: https://www.lbank.info/exchange/lunat/usdt/#inno

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/135331

Newsfile is a customer-focused newswire team that delivers press releases and corporate announcements to the global financial community. Approved by all stock exchanges, Newsfile offers broad access to media, analysts, investors and market participants. With agile services, proactive customer care and affordable pricing; Newsfile makes it easy for companies to tell their story to the audiences they need to reach.

Blockchain

SDAX Unveils World’s First Securitised Gold Tokens for Digital Exchange Users

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SDAX, Singapore’s leading Digital Assets Exchange, has expanded its product offering to include a first of its kind tokenised gold product. In partnership with the Oman-based Muscat Precious Metals Refining Company LLC, the MPMT Gold Token offers investors a gold token in a securitised form, unlike other gold token offerings currently available in the market.

The MPMT Gold Tokens, which are available exclusively on the SDAX Exchange platform offer investors increased protection, being in a securitised form and issued by an independent trust and backed by physical gold bullion held in secure vaults at Le Freeport, Singapore.

This product uses securitisation techniques and offers investors who are seeking an easier way to gain exposure to gold without having to find storage methods for housing the physical bullion. Owners are also able to trade gold tokens for physical settlement with qualified market makers through the SDAX platform.

Commenting on the launch, SDAX CEO, Rachel Chia said, “We saw an opportunity in the market to make owning gold through tokenisation a much more secure proposition for investors. These securitised tokens confer an additional layer of safety, allowing investors greater peace of mind about their investments.”

With spot gold prices sitting at record highs, investors are presently faced with a multitude of gold investment options. By securitising the gold tokens, SDAX is providing investors with a convenient, reliable, and most importantly, secure alternative investment approach. The securitised tokens allow for investors to acquire and hold a beneficial ownership interest in a specified quantity of gold legally held by an independent trust for the investors. This is compared to other gold investment options like exchange traded funds (ETFs) or bank issued depository gold certificates where the gold is owned by the ETF provider or the bank.

“As gold prices continue to trade at record highs and with macro-economic forecasts supporting a likely continued trend, we thought it was the perfect time to offer a gold product exclusively to our SDAX users that was unique and not currently available in the market,” Chia added.

In partnership with the Muscat Precious Metals Refining Company LLC, Oman’s first precious metals trading company that specialises in a range of commodities including gold, silver, and platinum, SDAX is able to provide gold tokens at scale and speed.

“We are excited to be part of this new offering that allows investors to gain secure exposure to the gold market through the MPMT Gold Token. As gold prices rise, driven by safe-haven demand, central bank buying and rising geopolitical risks, it is important for investors to have options, which is why we are happy to work with SDAX on this compelling gold investment alternative. This partnership with SDAX will also allow us to reach a wider base of sophisticated investors on the SDAX platform,” said Muscat Precious Metals Refining Company LLC CEO, Shihab Al Busaidi.

The MPMT Gold Token was created with the assistance of global law firm Clifford Chance LLP, London,  global trustee APEX, Jin Huang Bullion as bullion agents, and Hydra X as custodian. Walkers advised on the product and offering with respect to Cayman Islands law. BTPLaw LLC provided advice on the tokens from a Singapore law perspective.

Clifford Chance London Securitisation Partner, Kevin Ingram commented: “This product shows how securitisation techniques can add value to new concepts for the benefit of participants. We are delighted to be involved in the creation of this exciting product.”

“Hydra X is delighted to partner with SDAX and to provide custodial services and technology solutions to facilitate the tokenisation of real-world assets such as gold. This initiative reflects our commitment to making investment opportunities more accessible and leading the way in setting new standards in a blockchain-enabled, regulated digital asset landscape,” added Wee Hao Ng, COO, Hydra X.

The MPMT Gold Token is only available to accredited investors and institutional investors exclusively on the SDAX Exchange platform. For more information on the MPMT Gold Token, visit www.sdax.co/gold.

The post SDAX Unveils World’s First Securitised Gold Tokens for Digital Exchange Users appeared first on HIPTHER Alerts.

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Blockchain

Halving weakness sees $206 million exit crypto funds, Bitcoin miners pivot to AI

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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

The post Halving weakness sees $206 million exit crypto funds, Bitcoin miners pivot to AI appeared first on HIPTHER Alerts.

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Blockchain

NYSE gauges interest in 24/7 stock trading like crypto

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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

The post NYSE gauges interest in 24/7 stock trading like crypto appeared first on HIPTHER Alerts.

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