Blockchain
MoonXBT App Surpasses 100K Google Play Downloads With Other Numbers Reaching New High
MoonXBT, the innovative crypto social trading platform, has reached a statistical milestone with its Android application in Google Play Store surpassing 100k downloads early in August. Before this, MoonXBT also passed the code audit of its website by leading blockchain security company Certik.
In the meantime, other numbers of MoonXBT are reaching new highs as well. The daily active users of MoonXBT has exceeded 6 thousand among which more than 2 thousand are daily active traders. The total daily trading volume of all users on average of MoonXBT has reached over 200 million USDT. The users of MoonXBT covers a wide range of countries and regions across the world with main end users coming from Southeastern Asia – mainly Vietnam, Indonesia, and Malaysia, Turkey, Latin America, and Russia.
According to the platform, reaching these numbers is no easy job in a market like this considering many crypto exchanges have undergone trading volume shrinks and even lay-offs.
MoonXBT attributes its growth in application downloads, users and trading volume to multidimensional factors among which four major ones are: the long tail effect of the MoonXBT copy trading function, the continuous innovation of the platform’s trading products, the timely user favourable policy for spot market and the strong support from community partners in core markets.
As a social trading platform, one of MoonXBT’s flagship functions is copy trading which allows normal traders to follow the professional traders’ trading strategy and have their orders placed and executed automatically in sync with the traders they follow. This saves time and increases the win rate for normal and moreover rookie traders especially in the volatile market. For professional traders, they enjoy a 10% share of the profits made from their followers’ orders. As more and more traders with insufficient trading experience follow the steps of traders of their liking, they come to MoonXBT and download its application so that they can copy trade the traders on the platform.
On top of the above, MoonXBT has demonstrated large innovation capacity with trading products as a young exchange. In just a little over a year’s time span, MoonXBT has grown from a solely contract trading platform to one with all sorts of trading products including liquid contract, warrant options, spot market and OTC. Most recently, it launched the perpetual swap, a kind of derivative product which never expires. The continuous product innovation is also attracting new users with different risk preferences and trading needs and therefore has contributed to the numbers.
In addition, to cater to the demands of users and lesson the burgers of the traders, MoonXBT is also one of the first few exchanges to implement zero fee policy for multiple trading pairs and later stable trading pairs. The timely policy also helped the platform to win over the users and boosted the MoonXBT application downloads.
Besides all the listed, one of the core reasons for MoonXBT’s milestone achievement is the strong support from the communities especially the working partners from core markets. The major market of MoonXBT now is Southeast Asia in which MoonXBT already has local teams in three countries including Vietnam, Indonesia and Malaysia. MoonXBT is even one of the top three crypto exchanges in Vietnam. The platform has partnerships with various communities and influencers in the region and is actively exploring more co-operations. The platform is also expanding partnerships in other parts of the world actively.
The Google Play downloads breakthrough along with other growing numbers shows how effective the local communities are in facilitating the platform’s growth which in turn bring benefits to the supporting communities. It is also a good testament of MoonXBT’s multidimensional development.
For more details, please visit www.moonxbt.com
The anticipated return of $9 billion worth of Bitcoin from the Mt. Gox era has the potential to stir anxiety within the cryptocurrency market. This significant influx of Bitcoin, which has been tied up since the collapse of the Mt. Gox exchange in 2014, raises questions about its potential impact on market dynamics and investor sentiment.
The return of these long-dormant Bitcoin holdings may lead to increased volatility and uncertainty in the cryptocurrency market. Market participants are likely to closely monitor the movement of these funds and assess their potential impact on Bitcoin prices and overall market stability.
Additionally, the large-scale return of Bitcoin from the Mt. Gox era may trigger concerns about potential selling pressure and its effect on market liquidity. Investors may anticipate fluctuations in Bitcoin prices as these funds are reintroduced into the market and traded.
Furthermore, the return of these Bitcoin holdings highlights the ongoing legal and regulatory challenges associated with the Mt. Gox saga. The resolution of this long-standing issue could have far-reaching implications for investor confidence and the perception of security within the cryptocurrency ecosystem.
Overall, the anticipated return of $9 billion worth of Bitcoin from the Mt. Gox era has the potential to evoke anxiety among market participants and prompt heightened scrutiny of market dynamics. As the cryptocurrency market braces for this significant development, it remains to be seen how it will navigate the potential challenges and opportunities presented by the return of these funds.
Source: blockchain.news
The post Anticipated Return of $9B Mt. Gox-era Bitcoin May Spur Market Anxiety appeared first on HIPTHER Alerts.
Blockchain
Binance Faces Lawsuit in Canada for Selling Crypto Derivative Products Without Registration
Binance is currently embroiled in a legal dispute in Canada over allegations of selling cryptocurrency derivative products without proper registration. This lawsuit underscores the regulatory challenges facing the cryptocurrency exchange in various jurisdictions.
The lawsuit accuses Binance of offering crypto derivative products to Canadian investors without obtaining the necessary registration from Canadian securities regulators. This legal action highlights the importance of compliance with regulatory requirements in the cryptocurrency industry, particularly concerning the sale of derivative products.
Binance’s legal woes in Canada reflect broader concerns about regulatory compliance and investor protection within the cryptocurrency sector. As authorities worldwide increase scrutiny of cryptocurrency exchanges and trading platforms, companies like Binance face mounting legal and regulatory challenges.
The outcome of this lawsuit could have significant implications for Binance and the broader cryptocurrency industry in Canada. Depending on the court’s ruling, it could lead to increased regulatory oversight and stricter enforcement measures for cryptocurrency exchanges operating in the country.
In response to the lawsuit, Binance has stated that it is committed to compliance with all applicable laws and regulations in the jurisdictions where it operates. However, the outcome of this legal dispute will likely shape the regulatory landscape for cryptocurrency exchanges in Canada and influence their future operations and compliance efforts.
Source: blockchain.news
The post Binance Faces Lawsuit in Canada for Selling Crypto Derivative Products Without Registration appeared first on HIPTHER Alerts.
The Cardano Foundation has announced the launch of Pragma, marking a significant milestone in open-source blockchain development. Pragma aims to revolutionize Cardano by enhancing its infrastructure through innovative open-source projects.
Pragma represents a new chapter in the evolution of Cardano, focusing on improving its underlying infrastructure and expanding its capabilities. The initiative underscores the Cardano Foundation’s commitment to fostering innovation and driving progress within the blockchain ecosystem.
By leveraging open-source projects, Pragma seeks to enhance Cardano’s functionality and scalability, paving the way for broader adoption and increased utility. These efforts are expected to unlock new opportunities for developers and users alike, further cementing Cardano’s position as a leading blockchain platform.
Pragma’s launch highlights the ongoing evolution of Cardano and its commitment to pushing the boundaries of blockchain technology. Through collaborative open-source development, Pragma aims to address key challenges and drive continuous improvement within the Cardano ecosystem.
The Cardano Foundation’s announcement of Pragma signals a significant step forward in its mission to build a decentralized and sustainable blockchain infrastructure. With Pragma, Cardano is poised to embark on a new era of innovation and growth, setting the stage for a future of unprecedented possibilities in blockchain development.
Source: cryptonews.com
The post Cardano Foundation Launches PRAGMA: A New Chapter in Open-Source Blockchain Development appeared first on HIPTHER Alerts.
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