Connect with us
MARE BALTICUM Gaming & TECH Summit 2024

Blockchain

Gate.io Offers Zero-Fee Trading on Key Spot and Contract Markets

Published

on

 

What’s better than low fees? No fees. Gate.io is excited to announce ZERO trading fees on most spot and contract market trading pairs. The no-fee structure will be launched in two phases, first on September 16 (UTC) and then on September 20 (UTC), for spot and other markets, respectively.

After a breakthrough year for the exchange, this radical change in fees is an ambitious move to give back to the crypto community. The removal of fees on this scale is unmatched by any other mainstream exchange, making Gate.io the industry’s most affordable platform for crypto trading.

Zero-fee breakdown

As a gesture of goodwill to millions of users worldwide, maker and taker fees on all spot market USD, BTC, and ETH quote currency trading pairs and BTC/USDT have been completely removed as of September 16 (UTC).

As of September 20 at 10:00 (UTC), there will be no fees on all spot ETF pairs, USD-M and BTC-M perpetual futures pairs, USDT-M and BTC-M delivery futures pairs.

USD-pegged stablecoins such as USDC, TUSD, PAX, BUSD, and HUSD are denominated in USD and can be traded as USD spot pairs without the need for conversion and with no fees. With USD-pegged stables being the most commonly traded stablecoins on the market, having no fees helps make trading much cheaper. These reduced fees will remain in place indefinitely until further notice.

United with the crypto community

The crypto market has been pretty sluggish so far this year, so Gate.io is lending a hand to users so they can weather the storm together.

Though recently, Ethereum’s Merge has managed to spark the interest of its supporters and the entire crypto community. The ability to trade ETH at no cost will support the Ethereum community and, as an extension, its thriving ecosystem. And regardless of the ongoing bear market, Bitcoin still stands as the most traded digital asset by a wide margin. Making BTC a no-fee asset helps ease the trading experience for millions of users.

Fewer fees. Fewer worries.

Gate.io makes trading a secure, easy, and low-cost experience so traders can better focus on their positions and strategies and worry less about the rest.

Eliminating trading fees is another user experience enhancement following Gate.io’s 9th anniversary, which also included refreshed branding, lower and more flexible fees platform-wide, trading competitions with multi-million dollar max prize pools, and much more.

On Gate.io, user asset security is always priority number one. It was the first exchange to provide verifiable user asset reserves audit by a certified firm and is currently in the process of another audit. Meaning all user assets on the exchange are genuinely held and available for withdrawal at any time.

With nearly a decade of refinement, fine-tuning, and industry experience, Gate.io provides a comprehensive and safe trading experience trusted by millions of crypto users worldwide. Users can trade over 1,500 cryptocurrencies on over 2,500 trading pairs in the spot and futures market and access lending, contracts, options, NFTs, Web3, copy trading, exclusive fee discounts and bonus rewards.

Blockchain

Supply Chain Finance Market Forecast to Reach $9.4 Billion by 2029: Increasing Emphasis on Sustainable Sourcing

Published

on

supply-chain-finance-market-forecast-to-reach-$9.4-billion-by-2029:-increasing-emphasis-on-sustainable-sourcing

Global Supply Chain Finance Market

Continue Reading

Blockchain

Web3 Startups Raise Nearly $1.9B in Q1 2024 Despite Overall Downtrend in Crypto VC Interest

Published

on

web3-startups-raise-nearly-$1.9b-in-q1-2024-despite-overall-downtrend-in-crypto-vc-interest

Venture capital funding for cryptocurrency and blockchain projects has seen a notable resurgence in the first quarter of 2024, marking its first quarterly rise since 2021. Crunchbase data released today indicates that Web3 startups secured nearly $1.9 billion in funding across 346 deals during this period. This represents a substantial 58% increase from the previous quarter, offering a glimmer of hope amidst the ongoing downward trend in overall crypto VC interest.

The recent surge in funding can be attributed to investors adopting a more long-term perspective on Web3, as opposed to the hype-driven “tourist investors” predominant in recent years. Chris Metinko, the author of the report, notes that investors are shifting their focus to the AI sector, indicating a change in investment strategy. There is a growing interest in supporting the foundational infrastructure of the decentralized internet, rather than solely concentrating on crypto wallets and lending platforms, which attracted significant investments during the peak period of 2021 to 2022.

While large funding rounds were relatively uncommon in Q1, several notable investments stood out. Exohood Labs, a company integrating AI, quantum computing, and blockchain, secured a remarkable $112 million seed round at a valuation of $1.4 billion. EigenLabs, an Ether token “restaking” platform, raised $100 million in a Series B round led by a16z crypto. Additionally, Freechat, a decentralized social network leveraging blockchain technology, secured $80 million in a Series A round. These investments, among others, contributed to the increase in valuations and the emergence of four new Web3 unicorns in Q1.

Despite the recent progress, the future trajectory of Web3 remains uncertain. Metinko suggests that the next few quarters will be pivotal in determining the industry’s direction. While investors anticipate a rebound in investment as the decentralized internet evolves, it may take another year for venture capital activity to stabilize after the exuberance of 2021. Factors such as the approval of U.S. spot Bitcoin exchange-traded funds and the upcoming Bitcoin halving could also influence the market, given the rising prices of Bitcoin and Ether.

A noteworthy example of significant funding in the Web3 space is Monad Labs’ recent successful funding round, which secured $225 million led by Paradigm. Monad Labs is a layer-1 blockchain compatible with Ethereum, offering faster transaction processing. This funding round harkens back to the golden era of crypto funding in 2021-2022, when L1 solutions attracted substantial investments.

Earlier this year, Balance, a digital asset custodian based in Canada, announced that it had once again reached $2 billion in assets under custody (AUC) amidst the recent market recovery. Similarly, Korea Digital Asset (KODA), the largest institutional crypto custody service in South Korea, has experienced remarkable growth in crypto assets under its custody, expanding by nearly 248% in the second half of 2023.

Analysts at Bernstein Research project that crypto funds could reach an impressive $500 billion to $650 billion within the next five years, representing a significant leap from the current valuation of approximately $50 billion. This forecast underscores the growing optimism and potential for substantial growth within the crypto industry in the coming years.

Source: cryptonews.com

The post Web3 Startups Raise Nearly $1.9B in Q1 2024 Despite Overall Downtrend in Crypto VC Interest appeared first on HIPTHER Alerts.

Continue Reading

Blockchain

ASIC cracks down on blockchain mining firms

Published

on

asic-cracks-down-on-blockchain-mining-firms

Three blockchain mining companies – NGS Crypto, NGS Digital, and NGS Group – along with their directors, Brett Mendham, Ryan Brown, and Mark Ten Caten, are facing legal action from the Australian Securities and Investments Commission (ASIC) for allegedly operating without a license, in violation of Australia’s Corporations Act. ASIC initiated legal proceedings against these entities on April 9, citing concerns about their non-compliance with financial regulations and their solicitation of Australian investors.

According to ASIC, the NGS companies promoted blockchain mining packages with fixed-rate returns to Australian investors, encouraging the transfer of funds from regulated superannuation funds to self-managed superannuation funds (SMSFs) for conversion into cryptocurrency. Approximately 450 Australians invested a total of around USD 41 million in these packages, raising concerns about potential financial losses.

The legal action filed by ASIC alleges that the companies violated section 911A of the Corporations Act, which prohibits companies from providing financial services without a valid Australian Financial Services Licence (AFSL). ASIC is seeking interim and final court orders to prohibit the NGS companies from offering financial services in Australia without an AFSL.

ASIC Chair Joe Longo emphasized the importance of investors carefully considering the risks before investing in crypto-related products through their SMSFs. Longo stated that ASIC’s actions send a message to the crypto industry about the regulator’s commitment to ensuring compliance with regulations and protecting consumers.

In a separate development, the Federal Court appointed receivers for the digital currency assets associated with the NGS companies and their directors to safeguard these assets amid concerns about the risk of dissipation. Mendham was also issued a travel restriction order, preventing him from leaving Australia.

While a court date for the proceedings has not been set, ASIC’s investigation is ongoing, with the regulator continuing to gather evidence and build its case. It is worth noting that the investigated companies share a similar name with NGS Super, a legitimate Australian pensions provider, leading to potential confusion among investors. NGS Super clarified that it is not involved in selling cryptocurrency or related products and has taken legal action to protect its trademark and members’ interests.

Source: iclg.com

The post ASIC cracks down on blockchain mining firms appeared first on HIPTHER Alerts.

Continue Reading
Advertisement
Advertisement

Latest News

Recent Listings

  • Global Payout, Inc.

    Since the Company’s inception in 2009, Global Payout, Inc. has been a leading provider of compreh...

  • MTrac Tech Corp.

    MTrac Tech Corporation, a Nevada Corporation, is a privately held, wholly owned subsidiary of Glo...

  • Net1

    Net1 is a leading provider of transaction processing services, financial inclusion products ...

  • uBUCK Technologies SEZC

    Based in Georgetown, Cayman Islands, uBUCK Tech is a fintech enterprise that specializes in digit...

  • LiteLink Technologies Inc.

      LiteLink is a major player in developing world-class enterprise platforms that utilize ar...

  • Good Gamer Corp.

      Good Gamer Corp. is a privately-held technology company focusing on gamers and streamers....

  • BitPay

      Founded in 2011, BitPay pioneered blockchain payment processing with the mission of trans...

  • About Net1

      Net1 is a leading provider of transaction processing services, financial inclusion produc...

  • Blockchain Foundry Inc.

    Headquartered in Toronto, Canada, Blockchain Foundry (CSE:BCFN)(FWB:8BF)(OTC:BLFDF) is a global b...

  • Sixgill

    Sixgill provides a full suite of universal data automation and authenticity products and services...

Trending on TBE