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Messages - CoinEx_Official

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1
After going through the seemingly peaceful July, the crypto market seems to have absorbed the panic emotions, as Ethereum, Bitcoin, and altcoins start to rebound. Despite that, investors in crypto communities stayed particularly quiet possibly due to the series of crypto failures, which have made them more prudent. As we turn to the capital market, incomplete statistics show that 44 fundraising activities took place in the blockchain space last week.

In particular, 13 fundraising campaigns, the biggest of which raised $150 million, occurred in the category of infrastructure and tools, making it the most popular destination of blockchain investment. NFTs and the metaverse, the second hottest segment, witnessed 11 fundraising deals, and the biggest deal is worth $11 million.



Roughly speaking, such actions released two signals:

Confident in the future of cryptocurrency, the capital market has chosen to invest in cryptos despite the global liquidity crunch. Meanwhile, institutional investors believe that the crypto market will need more infrastructures as the market remains in its infancy;
The big investors have been prudent when it comes to NFTs and the metaverse. That said, the fact that the category stayed in the center of attention suggests that it could start the next market cycle.
Last week, the Fed announced another big rate hike (the fourth time this year), raising the federal funds rate by 75 basis points (bps), to a range of 2.25% to 2.5%. Facing a global liquidity crunch, the crypto market is unlikely to become bullish on its own.

However, for the crypto market, this is a hazard and also an opportunity. After a series of deleveraging events, most of the non-performing crypto assets have been exposed, which drove away the hot money. Subsequently, more institutional investors will reenter cryptocurrency and wait for the moment. During this cycle, the market will become bigger and more regulated.

Looking at the relevant figures, we can tell that the number of active BTC addresses has not changed much compared to the figure recorded during the last bull market, and only some of the peak figures have fallen. The number of active ETH addresses, on the other hand, has soared as the market rebounds recently. It should be noted that addresses with ETH deposits stayed highly active on exchanges last week, hitting a new record this year, but the figure then plummeted.




Let’s then check out the capital netflow of Bitcoin and Ethereum, both of which stayed stable throughout last week.





Finally, let’s hear what the Rainbow Price Charts say about the present market conditions. As the figures below indicate, Bitcoin is now “basically a fire sale”, while Ethereum has moved from “a fire sale” to “undervalued”. The trends of the two resemble the trends recorded in March 2020, which marks the beginning of the previous bull cycle.




As the private economy expanded, the 80–20 rule changed, and now 10% of the population owns 90% of the wealth in the world. Meanwhile, a growing number of people are trapped in the cocoons created by oligarchs who control the Internet. Instead of being independent thinkers, they have become submissive. However, some individuals are awakening and influencing more people via the Internet, which means that blockchain and the crypto market will become increasingly valuable.

From a technological standpoint, the Internet represents a new height of the modern neoliberal economy, but it seems like it is controlled by only a few people. In such a world, the so-called patents are sometimes merely umbrellas that protect oligarchs.

2
Crypto Discussion / Fighting the Merciless Floods with Love
« on: August 21, 2022, 10:40:47 AM »
Recently, heavy monsoon rains have caused widespread flooding in the northeastern part of Bangladesh, hitting millions of people. The floods have brought severe damage to Bangladesh: an estimated 7.2 million people have been affected in the northeastern region of the country. Many families have been separated, and some residents, made homeless by the floods, have had to hide in open spaces. The safety and survival of women and girls in these households are worrying — they are in desperate need of shelter and emergency relief items.



To help people in the flooded areas in Bangladesh cope with the disaster and rebuild their homes as soon as possible, CoinEx Charity dispatched a rescue team to purchase supplies, including medicines and food, as soon as it could. The team then rushed to Kurigram and Netrakona, two flooded regions. Up to now, the organization has donated plenty of supplies to locals hit by the floods, including 500 rice, 500 beans, 500 onions, 500 potatoes, 500 biscuits, 500 candles, 500 matches, 500 candy gift boxes, 500 cold medicine, 500 sewer cleaning tablets, etc, helping over 400 households.




According to reports by UNICEF, the accumulated rainfalls of the floods are worse than the ones the country had experienced in 1998 and 2004. Bangladesh has about 700 rivers, making it particularly vulnerable to flooding during extreme weather events. There, floods are a regular menace to millions of people living in low-lying areas. Experts say that climate change is increasing the frequency, ferocity, and unpredictability of flooding in the country. Through rescue efforts in Bangladesh, CoinEx Charity has fully noted the real needs of the flood-hit residents.

The floods submerged thousands of houses and led to disrupted road communications and power failures. Providing residents with much-needed items such as food and medicine, CoinEx Charity has been making rescue efforts, as well as charitable donations, in the flooded areas. Although the rainfalls have now decreased, and the water level has dropped, the country still faces tough challenges in terms of flood relief and work resumption. CoinEx Charity calls on more charities, private entities, and caring enterprises around the world to help Bangladesh stick it out through the present challenge.



Caring for disaster-hit regions with a loving heart

CoinEx Charity, relying on the geographical advantages brought by its global presence, is actively involved in charitable campaigns that focus on disaster relief, Covid prevention, education equity, and poverty alleviation in countries across the globe.

In the past six months, the organization has made donations worth over $180,000. In January 2022, when the Philippines was hit by typhoon Rai, CoinEx Charity immediately sent a rescue team to the country, made cash donations to the disaster-hit areas, and distributed 300 supply packages. In February 2022, it not only provided New Year’s food packages for poor people in Iran but also made emergency donations to Brazil when the country was hit by heavy rainfalls. In May 2022, the organization kicked off the CoinEx Charity Book Donation Worldwide.

To date, it has visited 19 schools in 12 countries and donated over 12,000 books. Love never ends. CoinEx Charity will always focus on disadvantaged groups in need of help around the world. Relying on the strength of charity, CoinEx Charity will bring warmth to the world, contribute to charitable causes, and reach out to more people in need.


3
Eid al-Adha is the most sacred holiday in the Islamic calendar and also a major religious festival celebrated by Muslims around the world. On this holy day, Muslim communities would gather to celebrate and pray. They’d also make donations so that others could enjoy this auspicious occasion too. During this year’s Eid al-Adha, CoinEx Charity also made charitable donations in Iran, Turkey, Syria, and Indonesia, with a focus on the poor, the elderly, the disabled, orphans, refugees, and individuals hit by disasters.

These are often people who cannot afford meat and whose diet lacks calories and nutrients. For many of them, Eid al-Adha is the only time of the year when they can eat meat, and CoinEx Charity intends to make sure that more poor people could enjoy a hearty meal during Eid al-Adha with the help of charity.



On July 10, 2022, the CoinEx Charity team went to Shiraz in Iran, Antakya in Turkey, Syria, and Tawangsari Village in Boyolali, Indonesia to give out Eid al-Adha gifts to the poor residents, allowing them to celebrate the holiday with a gorgeous meal.

During its visit to Shiraz, Iran, CoinEx Charity prepared Eid al-Adha meals for over 1,100 residents and celebrated Eid al-Adha together with the locals. When receiving the food, people smiled and beamed with happiness. For the poor, the festival represents a rare occasion where they get to enjoy a decent meal. CoinEx Charity delivered the warmth they needed as soon as it could.



The CoinEx Charity team also drove to Antakya, Turkey, and delivered 50 Eid al-Adha food packages to poor families there. Each package contained bread, tomato paste, tea, pasta, rice, sugar, beans, sunflower oil, and macaroni, all of which are part of the locals’ everyday menu. Such Eid al-Adha gifts brought them the joy of the holiday.



During a charity event in Syria, CoinEx Charity visited the Idlib orphanage and distributed Eid al-Adha cash gifts to 50 children there. In Syria, a country that has been suffering from diseases, disasters, and conflicts for years, many children have been orphaned. They are not only the children of Syria but also the children of the world. These orphaned kids deserve to enjoy the festive cheer and happy memories during major holidays like Eid al-Adha.



CoinEx Charity also visited villagers in Tawangsari Village in Boyolali, Indonesia and handed out 50 basic food packages to each household. Grateful for the help, the locals smiled happily when they received the food package.



Hit by the COVID-19 pandemic, disasters, and wars, millions around the world now face existential crises such as poverty and famine. During this year’s Eid al-Adha, CoinEx Charity gave Eid al-Adha gifts to orphans and provided food supplies for poor families, delivering warmth and joy on such a festive occasion.

In the future, as it continues to send food supplies to families in need, CoinEx Charity will also support them via charitable programs that aim to improve their well-being. This is not the first time CoinEx Charity cared for disadvantaged groups. Since day one, the organization has responded to every call for help and extended a helping hand to people living in impoverished regions via charitable actions, regardless of their race or nationality.

In December 2021, CoinEx Charity donated care packages to children at Uniuyo Teaching Hospital, Nigeria; In February 2022, it offered New Year gifts to poor families in Iran; in April 2022, the organization sent Easter presents to over 500 poor children in the north of Sao Paulo, Brazil. In addition to humanitarian response, CoinEx Charity also spared no effort in terms of disaster relief and charitable education.

The institution offered immediate help to locals via donations and real actions when typhoon Rai hit the Philippines and when Brazil suffered from heavy rainfalls. From May to June 2022, CoinEx Charity visited poor schools in 11 countries. It provided over 10,000 books for more than 8,000 students, helped the schools build reading corners, and donated school supplies.



Since its inception, CoinEx Charity has been passing forward messages of love. Driven by the power of charity, the institution helps disadvantaged groups around the world. It embraces people everywhere and builds friendly ties with individuals from all countries. Through different charity events, CoinEx Charity encourages the public and charities to pay attention to the poor and disadvantaged groups. The organization calls on people to join hands with it in contributing to charity and creating hope for people in need.

4
Crypto Discussion / Could USDT & USDC Depeg and Crash?
« on: July 28, 2022, 08:57:00 AM »
Recently, there have been many rumors that stablecoins will crash. We first hear that hedge funds are shorting USDT with hundreds of millions of dollars. Then, a KOL on Twitter said that Circle could suffer a run. On July 6, another Twitter KOL warned people of a potential USDT depeg. Will USDT and USDC crash as they predicted? Today, let’s break down the rumors in terms of the reserve asset, buyback amount, and transaction statistics.



Reserve assets

USDT

Let’s first take a look at USDT. According to the Q1 2022 assurance report issued by Cayman that we found on Tether’s official website, the company holds $82,424,821,101 in assets as of Q1 2022. In addition, its total reserve assets are worth more than the USDT market cap. Compared with the $78,675,642,677 recorded in Q4 2021, Tether’s total reserve assets have grown by approximately 4.77%.

The specific asset breakdown is as follows:



Compared with the previous quarter, Tether has boosted its holdings of U.S. Treasury Bills, but the new Treasuries it purchased are 90-day bonds instead of 120-day bonds, accounting for 47.9% of total assets. At the same time, Tether’s commercial paper holdings make up 24.38% of its total assets, a fall of about 20.25% in Q1 2022. According to the supplementary note, Tether sold all assets rated below A-3 in Q1 and also reduced the proportion of assets rated at A-3.



Although the Q2 report has not been released yet, Tether’s chief technology officer said: “Tether reduced almost 50% its CP holdings since 31st March 2022. By end of June one 8.4 billion CP left. CP exposure going to be reduced to 0.” Based on the way their assets changed in the past, we can roughly predict that Tether is likely to convert its CP holdings into Treasury Bills to lower the risks. Moreover, the CTO also stated that Tether did not invest in Celsius or 3AC.



In addition, according to its official website, Tether would slash its commercial paper portfolio by $5 billion after July 31, 2022, bringing its paper asset holdings down to $3.5 billion.

USDC

Data from USDC’s official website shows that this stablecoin’s reserve assets come with an even simpler mix: cash plus short-term U.S. Treasury Bills. In particular, the latter account for 75.45% of the total reserve assets, while the former takes up only 24.55%.

Its chief financial officer, Jeremy Fox-Geen, said in a statement that the company’s Treasuries were purchased by BlackRock and stored at the Bank of New York Mellon. In addition, about 20% of USDC’s reserve assets are cash, stored in a number of banks, including Silvergate, Signature Bank, and New York Community Bank. Jeremy also said that Circle redeemed $14.7 billion worth of USDC for customers in June.



Total market cap & buyback amount
Having checked the reserve assets of the two stablecoins, let’s now turn to the root cause of crypto meltdowns: depegs. USDT and USDC are both stablecoins pegged to a fiat currency, which means that they can depeg from the dollar under two scenarios:

Hit by extreme market conditions, the project team does not have enough funds to pay for massive redemptions. This would result in poor liquidity performance of the stablecoin, which leads to its depeg.
The stablecoin suffers from malicious shorting and scandals, which leads to market panic and causes a run. In the end, the stablecoin depegs due to insufficient liquidity.
That said, let’s first check out the USDT redemption statistics. The most recent massive USDT redemption happened after the UST meltdown when Tether redeemed nearly $10 billion within a short period. Later, the company redeemed another $5.51 billion worth of USDT from June 12 to June 22.



$4.56 billion worth of USDC had been redeemed from March 20 to May 10, and the market cap has been growing ever since.



Of course, based on these charts, we can only roughly guess the buyback volume of the two assets. After all, when the UST crashed, there were market makers who turned about $5 billion worth of USDT into USDC to mitigate the risks.

It is noteworthy that the market cap of USDT has been on a continued fall, while that of USDC has been rising. This might be the case because users have kept exchanging USDT for USDC, which shows that the market is still worried about the security of USDT.

Transaction statistics
Next, let’s turn to the second scenario where the two stablecoins are threatened by malicious shorting, exit scams, or runs. If that were to happen, the on-chain statistics would show a massive withdrawal of funds. According to the on-chain statistics, USDC seems to have been hit by the panics, while USDT has not been much affected.





Conclusion
In terms of market cap, USDT takes a lion’s share of the stablecoin market, which has led to the excessive concentration of funds. Plus, this has also made the market unnervingly vulnerable. In addition, USDT also continues to hold risky commercial papers. Fortunately, Tether has started to reduce its CP holdings.

As a government-regulated stablecoin, USDC does not seem to match the blockchain space, but it is safer, and the most prominent risk threatening USDC might come from a massive run on the banks where Circle stores its cash reserves.

To sum up, a USDT/USDC crash is unlikely to happen. In the present bear market, the market cap of many projects, including stablecoins, has been reshuffled. During the next cycle, the stablecoin market might no longer be dominated by USDT.

5


Ethereum: The Diminishing NFT Leadership

Ethereum, one of the earliest public chains, boasts a booming ecosystem that features all kinds of DApps, which justifies its reputation as the “king of all public chains”. Meanwhile, as the first application-oriented public chain, Ethereum has brought together most NFTs and crypto assets, including the first-ever NFT CryptoKitties and the most expensive NFT CryptoPunks, with extremely active transaction records.

Despite that, as more beginners have been attracted to Ethereum by a hundredfold return, the transaction cost of Ethereum NFTs has grown increasingly higher. Today, an NFT transaction could consume more than ten or even dozens of dollars in Gas on average. When the network is congested, a transaction might burn hundreds or even thousands of dollars in Gas. For instance, according to Glassnode, when Yuga Labs started selling Otherside on May 1 this year, over 70,000 ETHs were burned during the sale, and the average Gas fee stood at a staggering $197.



Ethereum’s expensive Gas cost has scared away tons of beginners. Troubled by performance issues such as network congestions, users have started to find the next “NFT playground” that does not require such exorbitant fees. Of the many Layer 1 chains, Solana has stood out in terms of NFT performance. Known for its high performance, Solana features high throughput (65,000 TPS) and almost negligible fees (about 0.000005 SOL), which enables outstanding NFT performance. With Solana, users no longer need to pay thousands of dollars in Gas for a $100 NFT. New public chains with high performance such as Solana have provided retail investors with new investment opportunities.

Solana NFT: Finding Another Way

During the one-year-long “NFT Summer”, the total market cap of NFTs once exceeded $38 billion at the peak, and the high returns attracted all kinds of investors to the market. However, the crypto market as a whole seemed sluggish as people expected the Fed to raise interest rates in April and May. After two weeks of continuous shocks, the NFT market calmed down. On-chain data from Dune shows that the transaction volume of ETH-based NFTs on OpenSea has kept falling, and the recent figure is less than one tenth of the peak volume. NFT projects on Ethereum have entered a tough winter season.



In contrast, Solana’s NFT market has gained popularity. This April, OpenSea announced that it will support Solana NFTs, making Solana the fourth public chain supported by OpenSea, following Ethereum, Polygon, and Klaytn. OpenSea’s support has significantly facilitated the provision of liquidity for the entire NFT ecosystem of the public chain, bringing more unique Solana NFTs to the public.

According to Dune, the transaction volume of Solana-based NFTs on Magic Eden has grown significantly throughout April and May this year. Additionally, data from SolanaFloor shows that the total floor price of Solana NFTs has kept rising over the past few months. These statistics are direct proof that Solana’s on-chain NFT market remains popular and has become growingly so during the past few months despite the arrival of an NFT winter.





Solana’s Native NFT Marketplace Magic Eden Enables Growth

Magic Eden, the largest NFT marketplace on Solana, started the “Solana Summer” by offering the viral NFT series Okay Bears.

Tapping into the first-mover advantage, Ethereum NFTs have attracted the attention of most NFT users. Although NFT marketplaces like LooksRare and X2Y2 have sought to rival OpenSea with low fees and token rewards, they have failed in the race primarily because the liquidity of the same NFT is higher on OpenSea. As such, OpenSea’s share of NFT transactions on Ethereum has remained above 50%.

However, compared with Solana NFTs, OpenSea does not have apparent advantages. This April, OpenSea announced its support for NFT transactions on Solana. Meanwhile, Okay Bears boomed and ranked №1 on OpenSea in terms of transaction volume. Despite that, the statistics suggest that the majority of Okay Bears were traded on Magic Eden.



Apart from Okay Bears, Magic Eden also accounts for over 95% of the total NFT transaction volume on Solana, which gives it enormous advantages in terms of NFT liquidity on the public chain. The only thing that Solana-powered NFTs lack, when compared with Ethereum NFTs, is the first-mover advantage. Despite that, focusing on Solana NFTs, the Solana-native NFT marketplace Magic Eden has built an absolute dominance in liquidity and might become the “OpenSea killer”.



Bule-chip NFTs on Solana

Okay Bears



Okay Bears is a group of NFT avatars based on Solana and also one of the most prominent NFT projects recently. The Okay Bears NFT collection consists of 10,000 bears with different skins and outfits. These bears resemble BAYC’s apes in terms of clothing, facial expressions, and even the idea behind them, which is why they are sometimes called “Bored Bears”.

Since Magic Eden’s offering of Okay Bears for 1.5 SOL started on April 27, the price of these bears has skyrocketed, with the floor price peaking at over 260 SOL. In less than a month, Okay Bears recorded a stunning transaction volume, with over 20,000 transactions that are worth 1.4 million SOL. Right now, the floor price of Okay Bears stands at 115 SOL, an approximately 77X growth record. During the past two weeks, the Okay Bear NFTs have become the most successful Solana-powered avatar NFT project, attracting users from other NFT communities.

DeGods



DeGods, a deflationary NFT collection powered by Solana, consists of 10,000 virtual gods, divided into DeGods and DeadGods, showcasing values with their creative outfits and unique character designs. With a total supply of 10,000 NFTs, DeGods were offered at 3 SOL starting from October 2021, and the current floor price is 403 SOL. After purchasing DeGods, holders can join the Discord community using their NFTs as the pass.

DeGods issued DUST, which is acquired by staking DeGods and DeadGods, and has its own tokenomics. At the moment, users can get 10 DUST per day by staking DeGods and 30 DUST per day by staking DeadGods. A user can also switch between DeGods and DeadGods but need to pay a certain amount of DUST. The project has plans for game development, which indicates that gaming might be its next focus.

Cets on Creck



Cets on Creck, a BAYC-like NFT project launched this March, is a collection of 6,969 NFTs. The project’s total transaction volume has exceeded 250,000 SOL, with a minting price of 2 SOL and a floor of 60 SOL. According to its official profile, Cets holders will be empowered in the future ecosystem of the project, and the official roadmap is leading it towards the metaverse category.

Conclusion

Solana NFTs, led by Okay Bears, have started to soar, and its hundredfold ROI has made them hideously popular within a short period. Such success has demonstrated that NFTs on Solana promise incredible returns. The public chain’s daily NFT transaction volume is second only to that of Ethereum. As more successful projects flourish, Solana will become a formidable rival of Ethereum. At this stage, although the NFT transaction volume has been falling together with the overall market, statistics show that Solana is catching up in the NFT category, and it might foster more blue-chip NFTs in the future.

6
Crypto Discussion / CoinEx Announces Partnership with RWLC 2021
« on: July 01, 2022, 09:02:17 PM »
CoinEx, a world-leading cryptocurrency infrastructure provider, has announced its partnership with Rugby League World Cup 2021 as its Official Cryptocurrency Trading Platform Partner.

It’s the first time in the history of the World Cup to have a cryptocurrency company as a partner. CoinEx is honored to have such a chance to establish a partnership with RLWC2021.

Founded in 2017, CoinEx is a professional global cryptocurrency exchange. Dedicated to “Making Crypto Trading Easier”, CoinEx provides a highly secure, stable and efficient service for its three million global users.



CoinEx Founder and CEO Haipo Yang said,

“We have real admiration for what the RLWC2021 represents. The tournament is set to trailblaze a way to reach new audiences for the sport, and we are excited to be a part of that through our partnership.

This will be the first major sponsorship activity we have undertaken, and we are looking forward to working together to make it a success for both parties.”

Jon Dutton, RLWC2021’s Chief Executive added,

“Crypto companies have recently established themselves in the sports sponsorship market and I am pleased that we have been able to introduce this innovative sector to the Rugby League World Cup. What’s particularly exciting for the RLWC2021 is that we are able to add CoinEx to our roster as one of our official Technology Partner, and I believe our cooperation will be very successful!”

The RLWC2021 is set to take place from 15 October to 19 November 2022 and will be the first time the RLWC encompasses the men’s, women’s and wheelchair competitions within one tournament.

To find out more about the Rugby League World Cup 2021 sponsored by CoinEx, visit: https://www.rlwc2021.com/

7
Crypto Discussion / A Fool-proof Guide to CoinEx’s Contract Data
« on: July 01, 2022, 08:57:35 PM »
Futures traders heavily rely on Contract Data to determine market trends and formulate trading strategies. Contract Data is needed by all professional futures traders for investment analysis. That said, how do we check Contract Data on CoinEx?



Here is a concise illustration.

I. Check CoinEx Contract Data on Web/App

1. For Web users:

First, go to the CoinEx website (https://www.coinex.com/) and log in to your CoinEx account, click on [Futures] on the navigation bar and then [Market Info], and select [Contract Data].



2. For App users:

Tap the icon in the upper right corner on the [Futures], and select [Contract Data].



II. What is CoinEx Contract Data? How should it be used?

1. Open Interest & Trading Volume

Open Interest refers to the total open interest of all users within a given period. Trading Volume refers to the total executed volume of the futures contract within a given period.

Taken together, the Open Interest and Trading Volume help investors perceive the liquidation and closing volume in a futures market. For instance, A large number of futures contracts are closed or liquidated when the Trading Volume rises and the Open Interest falls; traders in the market are enthusiastic about opening positions if both the Open Interest and the Trading Volume rise.



2. Taker Buy/Sell Volume

Taker Buy Volume refers to capital inflow volume. Taker Sell Volume refers to capital outflow volume.

A large Taker Buy Volume shows that the market sentiment falls under the greed spectrum. On the other hand, a large Taker Sell Volume indicates that the market sentiment is within the fear range, and many traders tend to sell short.



3. Long/Short Ratio (Account)

Long/Short Ratio (Account) represents the proportion of net long accounts to the net short accounts within a certain period.

This indicator shows us the market inclination of retail traders and top traders. In each Futures market, the long position value equals the short position value. And because of that, there are a few accounts with large value in Long positions when the Long/Short Ratio (Account) is 150% (i.e. Long Account / Short Account = 1.5), which indicates that these accounts might belong to the top traders. Conversely, when there are many accounts with small value in long positions, then they might belong to retail traders.

4. Top Trader Long/Short Ratio (Account)

Top Trader Long/Short Ratio (Account) represents the proportion of the net long positions to the net short positions of the top traders in the market.

Top trader refers to the top 20% traders in terms of position amount in the current market, and each account is counted once without calculating the specific position volume.

When it comes to futures trading, it’s undeniable that top traders have better trading habits and are more sensitive than retail traders. As such, their tendency can be relied upon by retail traders. However, it should be noted that some top traders and institutions use futures contracts as a hedging tool against spot risks. Therefore, our own market insights should also make a difference when we refer to Contract Data.



In conclusion, Contract Data is a critical reference for futures traders that help them analyze the market, determine market trends, and formulate the corresponding trading strategies. Still, we should also rely on our own market insights when deciding on the suitable trading direction using Contract Data.

8
On 23rd June, CoinEx organized a Telegram AMA with Kevin Mcoin from Crypto Club on YouTube, who is the top blockchain YouTuber with over 200k followers. Keven shares valuable insignts and helpful suggestions on how to trade futures, how to trade using levergae in today’s market and what’s the future market trend. Also, he answers five questions raised by participants after the sharing and his lucid explanations of complicated content win a large outpouring of favorable comments.

Here’s a summary of Kevin’s one-hour live chat into this passage



Leverage Trading

It’s no surprise that you can maximize your gains with leverage, especially on the CoinEx platform, where users can use margin to borrow coins through mortgaging assets. Trading pairs with different margin ratios correspond to different mortgage rates. It supports trading pairs with a 5X margin, and the pledge rate is up to 80%.

Let’s talk about how to trade using leverage during this market since it is pretty volatile, and many of you have maybe not experienced something like this in the past. We make money as the market moves, so volatility can significantly assist us when making the right decisions. Still, it could also be very negative if you are not appropriately treated. Think of these times as an actual test of your skills, if you are trading correctly, you will be rewarded even more but if you’ re trading poorly, you will pay the cost, literally.

The key when trading is to always look out for your expected value returns. You want to minimize the expected output while minimizing the input. In other words, you want to make as much as possible while risking as little as possible, and you can definitely do this with these volatile markets and profit further.

The first thing I will say is required to trade during a volatile market is to know that you’ re prepared to even trade in a volatile market. If you’ve never experienced this before, it can be quite different. Not only does the price action move completely different, but your emotions will also be completely different. You may believe you are an experienced trader, but everything can change in a new market.

Before jumping into the market, let yourself understand that this is entirely different, and be aware of the possible outcomes so that your decision-making remains sound. You don’t want to start revenge trading or making arbitrary decisions.

You must stop orders to limit your exposure to risk while sticking to a strategy. It will also be essential for you to set charges to take profit at certain levels, as greed may confuse you and get you out of your strategy.

Now for the people who want to focus on short, this part is for you. How do you know when to short? Well the key is to find projects that are not yet completely beat down. The way to identify this is to look at the market trend and see what is happening. For example, if there’s a lot of bad news surrounding a certain project, maybe it would be a good idea to open your position on it if you determined that it does not have good fundamentals.

Now something I want to say is that it’s OK to lose, as long as you win more than you lose. No traders 100% successful. That does not exist, if someone tries to tell you there, then they’ re selling you a fake course or selling you a dream. Some weeks you lose, and some weeks you will win. The only thing that truly matters is winning more than you lose or at least winning in larger sizes overall.

The last thing I want to say for this section is to use technical analysis as your friend. This is something you should all be using while trading. If you are a long-term investor, they should not be the only thing you use, but they should still be something you look at.

Future Market Trend

It’s no secret that we are in the largest bear market we’ve seen for crypto yet. The most money we’ve seen is being pulled out of some of our favorite coins (BTC, ETH etc.). There’s plenty of factors that are bringing selling pressure to the markets that have made us so much in the past years. First of all we’ve seen the fed trying to slow down the high growth markets and inflation by raising interest rates, most recently to 0.75, but this is just the beginning of that as many analysts are predicting a dozen more rate hikes incoming. On top of that, at the beginning of these rugged markets its been proven that some massive cryptocurrencies like Terra Luna couldn’t be sustained. Now that we know what has happened let’s take a look at the future trends of what could happen. In my opinion (NFA) this downfall is a gift to be able to buy into the future, some volatility in market prices don’t change the fundamentals of a revolutionary infrastructure. People are getting liquidated because of high-interest rates. We are returning to fundamentals, this is what bear markets do. We go back down to the basement and we rebuild the foundation stronger and stronger.

What do I think is gonna happen in the crypto market, for months I’ve been preaching to short all cryptos simply because of the rising interest rates. Sometimes things are as simple as just one thing causing the whole market to collapse. Some companies falling out and going in solvent is also another reason why this bear market has been accelerated. With that being said I think that right now is a great opportunity to start look at the market as a buyer, I believe that we may go a few days or weeks and consolidate after what just happened but after this I believe they will be a next leg down. I am prison predicting that ETH will fall to 800 for token and below. So as a trader using CoinEx you should all start analyzing what opportunities you see in the market.

Ethereum will not be the only crypto that falls many other large group those will fall and even stable coins. I’ve been keeping my eye on USDD since it has D pegged, I think that because of its relationship to Tron, Tron will also fall very badly. With that being said I won’t be putting all my eggs in one basket but I will definitely have some small exposure to this.

For more information or future events, please follow us on Twitter and join our Telegram group.

9
As the crypto industry keeps growing, futures contracts have become the absolute mainstream in the derivatives market, surpassing spot trading. As a type of investment product, futures contracts have been recognized by more crypto users, and a growing number of users have started trading futures. Relying on futures, many of them have earned huge profits despite bearish market conditions. Meanwhile, plenty of veteran traders have developed unique insights into futures trading and are providing such valuable experiences for other crypto users via videos or articles, which are a great help to newcomers to this field.



In recent years, CoinEx, a global crypto exchange, has focused on the innovation and improvement of its futures trading products & services, trading mechanisms, and asset protection measures, which has earned the exchange extensive user recognition and great support. Meanwhile, an increasing number of crypto investors have decided to trade futures on CoinEx. To give back to the users of CoinEx Futures for their continued support, and to provide more futures traders with an opportunity to share their skills and experiences, CoinEx is launching the CoinEx Futures Video Competition with an incredible prize pool, offering benefits to more futures users!

During the CoinEx Futures Video Competition, users could win the $5,000 prize by uploading original videos featuring CoinEx Futures on to YouTube! Moreover, outstanding entries could receive more exposure via CoinEx’s SNS accounts. The specific rules of the event are as follows:

I. Event Time

Submission ends 30 June 2022.

II. Requirements

Participants should choose one topic from below and upload an original video featuring CoinEx Futures on to YouTube:

Personal experience of trading futures on CoinEx;
Self-made tutorial of using CoinEx Futures;
A creative introduction to or demonstration of CoinEx Futures.
Submit the video via: https://forms.gle/71481mUWHiBDcc6A6

III. Rewards

1st prize: $1,500

2nd prize: $1,000

3rd prize: $500

Moreover, 20 honorable mentions will share $2,000 from CoinEx evenly.

IV. Rules

1. Participants should upload a public video on to YouTube during the period from June 30 to July 30, 2022;

2. The title of the video must be related with CoinEx Futures;

3. The length of the video must be at least 20 seconds;

4. One entry per person. Repeated submissions will get the participant disqualified;

5. CoinEx reserves all rights to interpret, revise, update or cancel this event.

CoinEx is committed to making crypto trading easier. With simple, convenient operations and smooth, reliable, stable trading experiences, CoinEx Futures has won the favor of many users. If you are satisfied with CoinEx Futures’ easy-to-use products, if you have unique views or creative ideas about CoinEx Futures, or if you are an investor who wants to share your futures trading experiences, why not express your thoughts in a video and upload it on to YouTube? Apart from attention from more crypto users, you might also win incredible rewards!

Isn’t it enticing? Join us now and you might become the prize winner. Plus, all you have to do is produce a simple video featuring CoinEx Futures.

10
On May 26, 2022, CoinEx Charity Book Donation Worldwide kicked off in Turkey. During this global campaign, funded by CoinEx Charity’s Multi-Million-Dollar Charity Fund, the organization built charitable reading corners for 18 schools in 11 countries and donated 11,243 books worth about $80,000.




Most children in remote, poor areas around the world do not have sufficient access to reading resources and lag behind their peers living in cities in terms of the volume, duration, and frequency of extracurricular reading. CoinEx Charity Book Donation Worldwide aims to provide abundant reading resources and bookshelves for poor schools or activity centers for disadvantaged children around the world to narrow the gap in children’s education and build charitable reading corners.



Empower education for children via reading

Affected by military conflicts, children in Syria have long been suffering from the lack of learning resources; schools running in remote areas in Venezuela face challenging conditions; in Brazil, projeto ajudador, a relief organization, has taken in over 100 homeless children. Meanwhile, orphanages in many countries need funding.

This “reading poverty” has become an urgent issue across the planet. After it became aware of those challenges, CoinEx Charity immediately hosted this one-month global campaign and delivered brand new books to 8,123 children across 11 countries, spanning Turkey, Syria, Thailand, Indonesia, Vietnam, Malaysia, Nigeria, Brazil, South Korea, Venezuela, and India.



The CoinEx Charity team said: “By giving donations and building book corners, we helped kids develop an interest in reading and good learning habits in their early childhood, which is essential to the improvement of literacy. We helped children understand the world around them and showed them what’s right and what’s wrong by giving them the right books, allowing them to foster appropriate morals and values.”



During the campaign, CoinEx Charity donated over 10,000 books to local schools, which expanded the collection of books available in their libraries. The campaign helped poor schools build an environment for free, independent reading and provided local students with quality reading materials. Moreover, CoinEx Charity also hosted classroom reading events to equip kids with good reading habits. This will enable children to better understand themselves and the world and help them better adapt to society as they grow up.

A charitable journey driven by love

Since its inception, CoinEx Charity introduced the Multi-Million-Dollar Charity Fund to pursue its mission: Via Blockchain, Making the World a Better Place. Over the months, the organization has hosted many charitable events worldwide, covering poverty alleviation and education-themed donations. Through this global campaign, CoinEx Charity donated various learning materials to schools in 11 countries and built new reading corners for them to contribute to the progress of global education and help children improve their life prospects.



CoinEx Charity Book Donation Worldwide conveys love to thousands of poor kids and creates hope for a better future, which further inspires CoinEx Charity to stay committed to charitable education. The campaign planted the seeds of knowledge and reached dozens of schools in underdeveloped areas, covering Turkey, Syria, Brazil, Venezuela, Indonesia, Vietnam, Thailand, Malaysia, etc. In the future, CoinEx Charity will continue to pursue its original goals through charitable deeds and fulfill more social responsibilities via public welfare. It will encourage more kind-hearted people and charities around the world to join the cause of charitable education and contribute to the improvement of children’s education.

11
On June 6th, CoinEx organized a Twitter AMA with founder and CEO, Haipo Yang to celebrate ViaBTC’s 6th Anniversary. Users were encouraged to ask anything Haipo from company strategy to industry insights to personal interests. Hundreds of entries were collected, and here we’ve selected some of them to answer. Each selected asker is rewarded $50 worth of $CET.



About ViaBTC’s Products, Development and Future Plans

1. @astaeren: There are many places where we can do mining. Why should we choose ViaBTC?

Haipo: ViaBTC’s primary advantages lie in technical stability and products & services.

As mining pools evolved over recent years, we have seen many changes in the landscape of top pools. Many new pools attempted to seize the market with subsidies but finally failed because when it comes to mining, stability outweighs everything else. If no block can be mined, all efforts go in vain. Therefore, ensured stability, superior performance, fast block synchronization, and low orphan rate are the keys to earning the trust of miners.

With strong technical guarantees, ViaBTC provides a mining network that runs stably 24/7 and has achieved the lowest orphan rate in the industry. Apart from that, the pool also features Hashrate Fluctuation Notification. When miners’ hashrate fluctuates, ViaBTC will give early warnings, which ensures stable mining revenue from multiple aspects.

Products and services are vital as well. ViaBTC Pool has provided many industry-first services, including PPS+ and Transaction Accelerator. Moreover, we have always insisted on openness and transparency by offering mining statistics that are obtainable through various visual representations. We introduced Auto Conversion to ensure the mining revenue during market swings; it rolled out Hedging Service and Crypto Loans to help miners lock in profits in advance and ensure the smooth circulation of funds. Always focusing on miners’ interests, ViaBTC strives to offer more practical, effective products and services.

2. @AMINZD2000: I’m going to get into mining. Do I need a lot of capital and a strong system to get started?

Haipo: The mining of PoW coins relies on the workload as proof, which comes with demanding requirements. For instance, users do need sufficient funding to bankroll early-stage costs such as mining rigs, electricity fees, and daily O&M expenses. Of course, if you have a small budget, you can always choose cryptos with short payback periods.

To begin with, users planning to venture into crypto mining should choose the right mining farm, and the specific mining site will determine the electricity price and O&M expenses. Moreover, they should also account for the local policy of the region where the mining farm is located to make sure that policy-related uncertainties will not lead to extreme circumstances during the subsequent mining process.

Secondly, miners should pick suitable mining rigs. The hashrate and power of a mining rig determine the mining revenue and payback period. You can also check the specific revenue data of different mining rigs under [Tools] on our official website.

Once miners identify the right mining farm and mining rig, they can then get connected with ViaBTC Pool. We will assign different network tasks and keep the mining network stable, which means that miners do not have to worry about the system and network.

3. @samiltasdemirr: What is your strongest advantage that you think will make your team leading the market?

Haipo: We have always placed great emphasis on our team. ViaBTC has always believed that “the team is a company’s most important product”. We regard our team as our core competitiveness and aim to achieve greater business success by building a strong team.

We have built a team of top-notch talents from different industries, many of whom have rich experiences in traditional Internet and finance. The ViaBTC team includes many of the earliest crypto practitioners, pioneers, and investors.

Such advantages allow us to rely on our experiences in traditional Internet and finance in terms of strategic planning and product design. Moreover, by combining such experiences with our unique insights into blockchain and cryptocurrency, we have managed to achieve steady growth. As I’m from a technical background, ViaBTC emphasizes the importance of code security, and has never suffered any major security breach since its inception. Backed by a strong team, ViaBTC Pool provides miners with a secure, steady mining environment.

4. @Dav3sj: Do you have local language Telegram groups for non-English speaking investors? What languages do you support?

Haipo: At the moment, we have created Telegram groups in English, Russian, Spanish, Chinese, and Persian. Our official website is now available in five languages: English, Russian, Spanish, Simplified Chinese, and Traditional Chinese. In the future, ViaBTC will also support more languages according to user feedback and market developments.

5. @YoNom15: Do you have any plans to integrate the platforms of CoinEx and ViaBTC? Because it satisfies both mining and trading users, and I think that an increase in new users can be expected.

Haipo: Although CoinEx and ViaBTC are independent of each other in terms of products, many of their functions are interconnected. For example, miners using ViaBTC Pool benefit from free, real-time withdrawals through CoinEx. This, coupled with mining revenue settled on an hourly basis, enables instant withdrawals at no cost. In the future, we will also consider expanding the functional combination between ViaBTC and CoinEx to make it easier for miners to trade cryptos on CoinEx.

6. @Guseka881: What are ViaBTC’s target next year? What do you do to attract more investors into your ecosystem?

@sohelrkhan: What are your top priorities towards the end of 2022 and 2023? Can you share some plans for the coming year? And What do you think of that makes ViaBTC more attractive than other projects?

Haipo: In terms of the mining pool, we will keep refining our products, building a global presence, and providing first-rate, stable crypto mining services for users around the world.

Our efforts will extend to optimizing product experiences, including a series of improvements and upgrades in visual interactions and product functionality. Apart from that, we will also keep enhancing our bottom-layer tech structure, adopt solid security measures, and provide an efficient, stable mining network for miners.

We will continue to explore other business segments of ViaBTC Group from multiple dimensions, enhance the connections between the different products in the ViaBTC ecosystem, grant users easy access to the crypto industry, and provide more blockchain infrastructure services for crypto adopters.

Insights and Opinions on Today’s Market
7. @Cybertech76Paul: As we have seen in the last month’s BTC drop, which dragged all the other tokens along, is there an impact for ViaBTC?

Haipo: During the past six months, affected by macroeconomic policies, geopolitical tensions, and the global pandemic, financial markets around the world have continued to plunge. Meanwhile, the crypto market, which is worth a trillion dollars, is bound to be affected by macroeconomic factors, which is the major culprit in the recent crypto slump. But ViaBTC don’t expect any impact.

Looking back on the financial growth in the past ten odd years, we can tell that the growth of financial markets and the crypto market are subject to growth cycles. Facing the current high inflation, many believe that a new round of quantitative easing will come from 2023 to 2024. Previous statistics indicate that the hit projects that flourished during the last bull market were all launched against bearish conditions. As such, in today’s bear market, both companies and investors should make preparations and stay patient and optimistic, enabling the high-speed growth of blockchain technologies and applications. As the market sentiment becomes more positive, and as the global economy recovers, everything will get better, and our efforts will surely be rewarded.

So under such circumstances, we should focus on development over the long run. For years, ViaBTC has always focused on long-term prospects, getting itself through 6 years of ups and downs in the crypto industry and earning extensive user recognition. Meanwhile, looking back, we have noticed that the crypto market has always spiraled upwards. Today’s market has progressed in terms of technical maturity, market scale, and user base. As such, we remain prudent but also optimistic and will continue to build better products for users.

8. @connecting4191: Have the continued discussion of mining by governments and rising energy costs changed your goals and mission? How do you think ViaBTC should follow?

Haipo: In a world suffering from global warming and energy crisis, sustainable development has become a global consensus. We have seen many discussions about mining and the associated high energy consumption. However, it is not advisable to ban mining just to save energy. Therefore, we now focus more on mining with clean energy.

Always committed to the mission of “Via Blockchain, Making the World a Better Place”, ViaBTC is one of the staunch advocates of mining with clean energy and has been looking for solutions for energy sustainability that apply to the mining industry. For instance, we have partnered up with SAI.TECH, a Singapore-based operator of clean computing power that horizontally integrates computing power, electricity, and thermal energy.

The company invented the “recyclable triangle”: the heat generated by BTC mining rigs will be turned into clean, renewable thermal energy through waste heat recovery, and will further be used to power the Bitcoin mining rigs. This model can effectively reduce carbon emissions and realize the secondary utilization of energy.

According to the block explorer, the global BTC hashrate of ViaBTC Pool stands at about 20,360 PH/s. Meanwhile, the unit power consumption of Antminer S19 XP is 21.5W/terahash. Therefore, a hashrate of 20,360 PH/s means that 437,740kW will be consumed every second. However, if SAI.TECH’s liquid cooling + waste heat recovery technology is adopted, then 393,966kW of the energy could be reused every second.

As a world-renowned mining pool, ViaBTC has been keeping track of the latest development in clean computing power, and we hope to partner up with more institutions like SAI.TECH to strike a balance between clean energy and crypto mining and explore the future trend of the two fields.

9. @arman972611: What do you think about the mining industry for the future?

Haipo: As a key link in the production of cryptocurrency, the mining industry will receive more market attention. Driven by Bitcoin, the №1 crypto, PoW mining will remain a critical part of the crypto ecosystem. At the moment, many big institutions are also paying attention to the mining business. In North America, some BTC-mining-focused funds have already been created.

Meanwhile, many listed companies are also buying Bitcoin or even venturing into BTC mining and building large mining facilities. As a result, more institutions have forayed into BTC mining. At the same time, many mining companies have gone public in the past two years, which is proof of great market popularity and recognition among investors.

In an industry filled with more institutions, all BTC miners, mining farms, and mining pools have to enhance their tech capacity and build better products. Through intense competition, BTC mining will grow increasingly specialized, and companies with inferior technologies and sub-par services will be outdated over time.

10. @Selva30009369: How do you think our world will look in 5 years? Do you think it will be an economic fallout or do you feel that bitcoin will ease the eruption?

Haipo: Inflation rates in countries around the world remain at a high level. Meanwhile, the world still suffers from the lingering impact of COVID-19, as well as certain geopolitical conflicts. In light of these circumstances, many feel pessimistic about the future of the global economy. Yet, we believe that it is only a matter of time before these problems disappear. Although it might take five years or longer, once such issues go away, the world economy will start to recover.

At the same time, we have seen that blockchain and crypto technologies have always moved forward. After the economy rebounds, the advancement in such technologies will lead to huge changes and a new economic boom. We are confident that all aspects of our lives will be reshaped by the digital economy.

About CoinEx and $CET
11. @Phoenix_dev1234: What is your vision on $CET What are your plans in increasing the value of $CET? What are your plans/ideas you can use to tackle crypto coin hackers?

Haipo: CET is envisioned as a cryptocurrency with real value and multiple use cases and functions. At the moment, CET can be used to pay for trading fees on CoinEx at a discount and enjoy VIP services and event privileges. Moreover, the token also acts as the “gas” of the CoinEx Smart Chain ecosystem.

Based on that, we will also improve the application value of CET from three aspects. Firstly, we will expand the scope of CET on CoinEx. For instance, CET holders will have more opportunities to invest in quality projects. Secondly, the CSC ecosystem will be enriched, with more premium projects and DApps available on CSC. Thirdly, we will strive for the adoption of CET in more external scenarios (e.g. payments).

As for security issues such as crypto hacking, we have accounted for such problems when designing our products. As security is the №1 concern among crypto users, we have repeatedly audited our codes and regularly conducted stress tests to keep the system safe. Additionally, the most secure wallet system is adopted to ensure wallet safety. Lastly, we will never misuse users’ assets for any purpose whatsoever. CoinEx promises to keep users’ assets safe and secure, and all withdrawals will be processed in time.

12. @Aras_1400: Does CoinEx have plans to support and open up the market for NFTs? What mechanisms does the platform adopt to introduce new currencies?

JovaniJio05: As one of the rising blockhain platform, does CoinEx have plans to consider NFTmarket?

Haipo: We need to conduct comprehensive assessments to determine whether CoinEx will introduce the NFT market, and related plans will be announced, if any.

We have always attached great importance to token listing. After all, there are plenty of cryptos in the market. CoinMarketCap alone shows nearly 20,000 crypto assets. However, not all assets are good trading choices, and many of them are subject to great risks. Therefore, we have insisted on independently reviewing the token listing process while aiming to list a premium, well-rounded selection of assets as quickly as possible.

To begin with, quality is the №1 priority. We look for premium assets on a global scale by assessing projects from multiple dimensions, covering team background, tech innovation, community activity, and category-specific prospects. Secondly, backed by a coordinated, efficient token-listing team with perceptive market insights, CoinEx ensures fast token listing and helps users stay ahead of peers. Finally, while pursuing quality, we also focus on well-roundedness. CoinEx strives to offer an all-inclusive selection of premium cryptos that meet all trading demands.

Our insistence on independent token listing is aimed at providing CoinEx traders with reliable assets. We know that when it comes to the number of cryptos available, existing trading platforms suffer from either a lack of diversity or garbage assets. Therefore, our research team spends plenty of time screening the cryptos available in the market, helping users avoid risky assets. To a certain extent, CoinEx saves users the trouble of risk filtering. Eventually, when a user opens CoinEx, he will be able to easily get the kind of first-rate cryptos he wants.

About CoinEx Smart Chain
13. @emersontntky: CoinEx Smart Chain is ideal for use due to its high efficiency and low fee. What other novelty does CSC offer that invites developers and users to join?

Haipo: CoinEx Smart Chain’s greatest advantages are its high efficiency and low fees. Moreover, the public chain is also fully compatible with EVM, which allows developers on Ethereum and other EVM-based public chains to easily migrate their DApps onto CSC.

In addition, the CSC Foundation has introduced the Multi-Million Dollar Supportive Plan to provide financial support for developers. Meanwhile, backed by the resources of ViaBTC Group, we will also support first-rate CSC projects in terms of liquidity, user traffic, and other aspects. For instance, CSC will help promising projects acquire investment from ViaBTC Capital, list cryptos on CoinEx, and conduct yield farming, offering all-encompassing ecosystem assistance to developers.

CSC uses CPoS, an innovative consensus mechanism, to protect users and keep the chain decentralized. At the moment, CSC users can also benefit from a full range of blockchain infrastructures, covering wallets, cross-chain bridges, blockchain explorers, etc. Of course, users care most about the user experience, so fast transactions and low fees are also vital.

14. @Adityaroypspk: Since there are many DeFi hacks and attacks are happening, people leave millions in losses. What security measures will CoinEx implement with the DeFi apps that work on CSC that give investors confidence?

Haipo: The CPoS algorithm used by CoinEx Smart Chain effectively ensures the security of the public chain ecosystem. The community will also adopt strict security measures concerning the codes and nodes to keep the chain stable and safe. At the same time, we will encourage DeFi projects built on CSC to work with third-party auditing companies to ensure their coding security and keep users’ assets safe.

15. @AsombraArt: As ViaBTC and CoinEx Smart Chain are always developing and evoling, how does CSC create a space where it is easier for artists to create and trade their artworks? How does CSC exploits NFTs potential?

Haipo: We encourage and support more artists to create NFTs on CSC. At the moment, there are already several third-party marketplaces where users can mint and trade NFTs on CSC. The public chain also features some NFT games and minting platforms. We have kept exploring the NFT category and will encourage developers to build more NFT-relevant apps by offering more ecosystem support and funding.

About ViaBTC Capital
16. @kabir_XZ89: How ViaBTC Capital sees DeFi, NFT and Gamefi markets in the coming years? How does its partnership with CoinEx will help the sectors grow?

Haipo: We are confident in the long-term prospect of DeFi, NFT, GameFi, and the related crypto categories and have invested in many such projects. So far, ViaBTC Capital has invested in multiple promising projects that can stand the test of the market, covering projects that focus on infrastructure building, creative Web 3 applications, GameFi, innovative DeFi, etc.

Due to the previous market boom, these crypto categories abound with projects that significantly differ in terms of quality, which have blurred the judgment of many investors. Many premium projects will stand out from today’s bear market where all projects will have to rely on performance and products. Meanwhile, the growth in user demand and product performance will make the project increasingly valuable.

Today, projects can no longer profit from stories and endorsements like they used to. Therefore, we believe more outstanding projects will flourish in the next few years, and ViaBTC Capital will also adopt long-term investment strategies and stick through the current crypto bear together with promising projects.

Interesting Facts About Haipo Yang
17. @theewhites: How did you first find out about Bitcoin? What did you think of it at the time, and how has your view changed since then?

I had my first introduction to Bitcoin and open-source software around 2011. At the time, fascinated by the technical principles of Bitcoin, I supported the view that we should facilitate industrywide progress by lowering the threshold of tech development via open-source coding. This led me to blockchain technology and the blockchain industry. Later on, I started to have some insights into the blockchain space. Back in 2013, I started running Bitcoin nodes and joined the building of the Bitcoin community. In March 2016, I completed all the code of ViaBTC Pool on my own in two months.

At the time, the inception of ViaBTC was motivated by factors relating to technology and product. Back then, the blockchain industry was in its infancy, and many technologies and products, including mining pools, were immature. Though the technical requirements for a mining pool are frequently underestimated, BTC mining pools are tech-intensive projects. Mining pools demand high stability and strong performance, which makes it a challenge to build a pool that’s sufficiently stable and efficient. In addition, mining constitutes a major part of the maintenance of the BTC network, and I wanted to drive Bitcoin toward a better future by building a mining pool.

These were the initial motivations behind ViaBTC Pool — I wanted to build a great product that would become the infrastructure of the blockchain world. Later on, more and more users chose to trust us, and our team expanded. Right now, ViaBTC is not just a mining pool. It is an ecosystem that covers CoinEx, ViaWallet, CSC, and ViaBTC Capital. The final goal of all these products is to facilitate blockchain progress by providing reliable services for crypto users across all categories.

18. @BeenEkonomistim: What was the most difficult issue for you during the construction and development phase of ViaBTC?

It was frustrating when our products were not recognized by the market. For example, CoinEx’s user base was very small at the very beginning. However, as we overcame such difficulties, they became memorable milestones. As the exchange grows and evolves, we keep refining our products, building a global presence, and offering reliable, satisfying services, thereby earning more user recognition and attracting more users. To date, ViaBTC Group’s products are recognized by over 4 million users across more than 200 countries, which is an achievement in which our team and I take great pride.

Thank you all for your questions, and congrats to the winners. We’ll see you soon. Happy 6th Birthday to ViaBTC!

Follow ViaBTC on Twitter: www.twitter.com/ViaBTC
Follow Haipo Yang on Twitter: www.twitter.com/yhaiyang



12
On June 11, Consensus hosted MetaGala, one of the major events of Consensus 2022 that brings together crypto investors, influencers, and artists from the cultural sector, the crypto space, and the fashion industry. For the last seven years from 2015, Consensus has been the most influential summit in the world of cryptocurrency and blockchain. Consensus launched the MetaGala charity auction on June 11, which marks the first offline event it has hosted since the COVID-19 outbreak.

During the event, the NFTs created by big-name artists were auctioned, and the proceeds were donated to blockchain education institutions around the world. It is worth mentioning that CoinEx Charity sponsored and participated in this charity auction.



MetaGala, the inaugural red-carpet event held by Consensus, integrates culture, cryptocurrency, and fashion. The introduction of a charity auction aims to raise money in support of blockchain education charities, working together with youth and underserved communities to train the next class of creative thinkers, developers, and entrepreneurs. As such goals are consistent with its vision, CoinEx Charity is actively involved as a sponsor and a donor.



An event for charitable education

CoinEx Charity, a charitable organization founded in 2022, launched the Multi-Million-Dollar Charity Fund to offer donations and charitable assistance, with a focus on equitable education, humanitarian response, and disaster relief worldwide. This year, CoinEx Charity focuses on equitable education around the world. The organization strives to provide better educational resources for poor children around the world while promoting the balanced development of global education.

Since May 26, CoinEx Charity has joined hands with charities in different regions to build charitable reading corners for poor schools in 11 countries, donating over 10,000 books and plenty of school supplies. As it practices inclusive education with real actions, CoinEx Charity promotes equity in global education.



CoinEx Charity sponsored the education-themed charity auction of MetaGala to raise public awareness on equitable education together with influential organizations and individuals and encourage more kind-hearted people and famous persons to contribute to the cause of charitable education worldwide. Attendees will slip among multiple realities to engage with each other. A charity auction of select non-fungible tokens (NFT) from known artists will also be held, as well as an award ceremony recognizing those doing good in the crypto industry. All proceeds from the event will benefit select CoinDesk partner charities, via The Giving Block, that are focused on education, including Code to Inspire, Girls Who Code, Crypto Tutors, and Crypto Kids Camp.

As it keeps empowering charitable education, CoinEx Charity has also been trying to achieve its original goal: help all children gain access to education. The organization will remain dedicated to charitable education, allowing more kids to enjoy the benefits of education. What our society really needs is a kind heart, which will spread the warm sunshine of goodwill to every corner of the world via charity. We are confident that more individuals or businesses will dedicate themselves to the cause of equitable education, help poor children worldwide benefit from quality teaching, and achieve equity in education with love.


13
When browsing crypto projects or token information, many crypto users are confused by the differences between initial supply, total supply, and circulating supply and think that the initial supply equals the total supply. Today, we will illustrate the specific differences between these three notions.



I. Initial supply

The term initial supply frequently appears in whitepapers. For example, many crypto whitepapers contain the following sentence: “XX will issue XX tokens, of which 20% will be used for xx, 30% for xxx, and so on and so forth”. Here, “XX tokens” refer to the total initial supply of the project, i.e. the total amount issued by the project.

The initial supply of most tokens is fixed. For example, the initial supply of Bitcoin is 21 million, which is aimed to prevent inflation. It should be noted that different cryptos have different issuance rules. It is generally the case that most cryptos, including Bitcoin, have a fixed initial supply, but there are exceptions. For example, the stablecoin USDT features an unlimited supply.

II. Circulating supply

The circulating supply of a token refers to the total amount currently circulating in the market, which does not include tokens locked by the project team or reserved tokens. That is to say, the circulating supply of a token is the amount circulating in the market and among crypto users or the general public. Generally speaking, the initial supply of a cryptocurrency refers to the initial amount available upon issuance, while the circulating supply indicates the amount circulating in the market.

The two terms cover different scopes and the specific figures also differ. In the case of Bitcoin, which uses PoW, cryptos are issued via mining, and miners produce a certain amount of Bitcoin every day, which means that the circulating supply of Bitcoin increases with each passing day. To sum up, the initial supply of Bitcoin is 21 million, while its circulating supply changes all the time.

It should be noted that if the circulating supply of a token keeps dropping, then its market cap would normally go up, which would make it easier for the token to attract user attention and investment.

III. Total supply

The total token supply refers to the current total amount of a cryptocurrency, which is the amount that has been created minus the amount that has been burned. For example, CET, which is the platform-based token of the global crypto exchange CoinEx, features an initial supply of 10 billion. As of May 27, 2022, the total amount of CET stands at 3,596,873,353, and the circulating supply is 3,536,240,355.61. Additionally, 6,343,512,591.61 CET has been burned. It is therefore clear that the total supply of CET differs from its circulating supply.



Apart from the initial supply, total supply, and circulating supply, basic token information covers many other aspects, such as price, market cap, and trade volume. For instance, the market cap of a token is normally determined by its circulating supply. Generally speaking, crypto investors need to account for a wide range of basic token information when viewing or evaluating a token project, and the more comprehensive the assessment is, the better the results will be.


14
What are the ways to buy CET? Today, we will introduce the specific steps of how to buy CET on CoinEx, a CEX, and OneSwap, a DEX. In addition to buying CET with cryptos like USDT and BTC, you can also directly convert other cryptos into CET!



Method 1: Buy CET via spot trading on CoinEx
1. Firstly, we’ll need to visit the CoinEx website and log in to our account. Next, select [Exchange] in the navigation bar to enter the spot trading page.



2. Here, we buy CET with USDT (order type: Limit).

(1) Firstly, enter CET in the search bar and select [CET/USDT] to go to the CET/USDT trading market.



(2) Click on [Spot Trading], select [Limit] and [Always Valid] (default), enter the [Price] and [Amount], and click on [Buy CET] after confirmation to create an order (the order will be executed when the market price reaches the price we set)



Method 2. Buy CET through CoinEx Swap

1. Click on [Swap] on the homepage to enter the Swap webpage.



2. We can then select the target cryptos available in the drop-down lists on the Swap page. For instance, to swap USDT for CET, we should select USDT in the “From” drop-down list and CET in the “To” drop-down list.



3. Enter the amount of CET to be swapped, and the platform will automatically calculate the amount of USDT required. Finally, click on [Swap].

Method 3: Swap cryptos for CET on OneSwap
1. Log in to our OneSwap account, select [CET] in the public chain drop-down list, and connect to our wallet.



2. Select [Swap] in the navigation bar on the homepage or click the [Swap] button on the homepage to enter the swap webpage.



3. Select a token on the [Swap] page. Here, we select [From USDT To CET]. Then, we should enter the amount of CET to be swapped, and OneSwap will automatically calculate the amount of USDT required.




4. It should be noted that to avoid significant deviations due to the slippage, we could set a slippage tolerance figure below the swap bar and save it.



Pay trading fees with CET
After buying CET or swapping other cryptos for CET, users could then pay trading fees with CET on CoinEx through the following steps:

1. Go to the CoinEx website, click on [Account] at the upper right corner and then [Preferences Settings];

2. Slide the button to the right to activate [Use CET as Fees], and you will be able to use CET to pay trading fees for your next transaction.

In addition to the payment of trading fees on CoinEx, CET covers a wide range of other application scenarios, spanning repurchase & burning, DEX, and DApp, and more use cases will be introduced in the future.

Follow CoinEx for the CET’s latest development!

15
Last week, New Bloc Night, the opening party of Austin blockchain week hosted by NEW BLOC, came to a successful conclusion at the Otis hotel in Austin.

As sponsors of this event, CoinEx and ViaBTC, together with more than 20 well-known investment institutions, public chain, DAPP, DAO, Web3.0, cryptographic financial service providers and other blockchain industry leaders, participated in speeches and round table meetings to jointly discuss the problems and development trends of the cryptographic industry, explore ways to compound interest growth of cryptographic assets.



A number of distinguished guests shared their insightful and original views on the event. Nearly 200 employees in the encryption industry participated in the event online and offline.

In addition, industry insiders including CoinEx & ViaBTC Partner Adam Chastain, ZKSpace Director of Business Development Mattias Borg, and FlashMining Founder & CEO Jackey Lin engaged in fantastic roundtable discussions and offered their views on trending topics like “Crypto Mining and Carbon Emissions: Trends in Crypto Mining”, “Decentralization vs. Centralization”, and “Web3 is What Young People Yearn For: What are the new opportunities?”




As a world-leading all-inclusive mining pool and also a staunch advocate of mining with clean energy, ViaBTC gave its views on crypto mining and carbon emissions that technological progress will address all such concerns. ViaBTC Pool has always been looking for technical solutions to energy sustainability in the field of crypto mining. In addition, it is also working with institutions such as QITALE, a mining organization from Minnesota, USA that uses water energy, and SAI.TECH, an operator of clean computing power.

Though the annual crypto carnival of Austin Blockchain week has ended, the development of the blockchain world still requires the joint efforts of crypto believers from all over the world. Meanwhile, ViaBTC will also remain dedicated to the blockchain space. Relying on cutting-edge Fintech, ViaBTC aims to facilitate blockchain progress and build a better future via blockchain, thereby realizing its mission — Via Bitcoin, Making the World a Better Place.

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