Blockchain
Bitgert (BRISE) Listed on Global Crypto Exchange KoinBX
Dubai, United Arab Emirates–(Newsfile Corp. – March 27, 2023) – KoinBX, a leading crypto exchange platform, has announced the listing of Bitgert’s (BRISE) token on its platform on March 27, 2023, 11 AM UTC and available trading pairs BRISE/USDT, BRISE/INR. This move is expected to bring greater accessibility and liquidity to the BRISE token and its decentralized finance (DeFi) ecosystem.
KoinBX Exchange lists Bitgert (BRISE)
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BRISE is built on the Ethereum blockchain and allows users to lend, borrow, and trade cryptos with ease. Its smart contract technology ensures that transactions are secure, transparent, and tamper-proof. With BRISE, users can earn interest on their crypto holdings, borrow funds at low interest rates, and trade their favorite cryptos without intermediaries.
“We’re thrilled to welcome Bitgert (BRISE) to our platform,” said Saravanan Pandian, CEO of KoinBX. “We believe that DeFi is the future of finance, and BRISE is at the forefront of this movement. Its innovative technology and user-friendly interface make it an excellent addition to our growing list of cryptos.”
The BRISE team is equally excited about the listing. To add, BRISE’s mission is to make decentralized finance accessible to everyone, and this listing brings Bitgert one step closer to achieving that goal.
In conclusion, the listing of BRISE on KoinBX is a significant milestone for the BRISE platform and the DeFi industry. The partnership provides a secure and user-friendly trading platform for users to trade BRISE tokens, expanding the platform’s reach and facilitating its adoption globally.
About Bitgert (BRISE):
BRISE is a decentralized finance (DeFi) platform built on the Ethereum blockchain. It aims to create a trustless and transparent financial ecosystem that allows users to lend, borrow, and trade cryptos with ease. Its smart contract technology ensures that transactions are secure, transparent, and tamper-proof.
For More Visit:
Website: https://www.bitgert.com
Twitter: https://twitter.com/bitgertbrise
About KoinBX:
KoinBX is a global crypto exchange that provides a secure and user-friendly platform for buying, selling, and trading cryptos. With a focus on innovation and user experience, KoinBX is committed to bringing the benefits of blockchain technology to everyone.
For More Visit:
Website: http://koinbx.com/
Twitter: https://twitter.com/koinbx
Facebook: https://www.facebook.com/koinbx
Contact Details:
Saravanan Pandian
Founder & CEO at KoinBX
[email protected]
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/159946
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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