Connect with us

Cryptocurrency

African Crypto Exchange, Quidax Raises Over $3 Million On The Worst Day Of Crypto In Less Than 48 Hours

Published

on

Quidax-Investorsking

On what could be tagged as the worst day of crypto this year, African-founded exchange, Quidax, raised over 7,772 BNB from the public sale of its token, QDX.

The crypto market suffered its first major dip in 2021 on Thursday, May 19, 2021 with Bitcoin dropping as low as $30,000 from highs of $64,000. In spite of this, the public sale of QDX sold out in less than 48 hours.

Recently, Quidax announced that it had processed over $3 billion in transaction volume since its launch in 2018 with over 400,000 customers across more than 70 countries. In the announcement, Quidax also shared a shift from its African-focused strategy to becoming the global home of BEP20 tokens.

Next Steps for Quidax

On Friday, the exchange revealed that $QDX will be listed on its platform and DeFi platform, JulSwap, from Sunday, 23rd May, where anyone will be able to trade QDX.

Quidax also unveiled its QDX roadmap that highlights the next developments within the QDX ecosystem. The revelation included the listing of several tokens including BNB, DOGE and SHIB.

As part of its roadmap, the first major product in the QDX ecosystem, QDX Vault will enable people to stake their QDX tokens and earn token airdrops from every other token that gets listed on the exchange.

Additionally, an airdrop has been scheduled in June for Quidax and JulSwap community members that hold QDX.

The QDX roadmap also indicates the launch of a self-service listing that will go live in August. This unique feature will serve BEP20 projects looking to list their tokens on the Quidax exchange within 24 hours.

A fast-growing ecosystem

The Quidax ecosystem continues to grow with partnerships. One such partnership is with blockchain analytical firm, Chainalysis. Quidax recently revealed that it would be listing Wall Street Games Token (WSG). Wall Street Games is one of the biggest blockchain-based gaming platforms and this development shows the commitment towards building a unique ecosystem.

Apart from its instant exchange & order book services, Quidax enables OTC trading for institutions and gives fintech companies the tools to offer cryptocurrency services to their customers through a dedicated plug and play API.

About Quidax

Quidax aims to be the home of BEP20, giving anyone access to tokens on the Binance Smart Chain (BSC), as well as popular cryptocurrencies. Apart from instant exchange services, Quidax enables OTC trading and gives fintech companies the tools to offer cryptocurrency services to their customers through a dedicated API. Quidax was officially launched in 2018 and currently has over 400,000 customers in more than 70 countries.

Continue Reading
Comments

Bitcoin

Bitcoin ‘Whales Are Re-Entering As Risk Appetite Returns’, Says Stack Funds Research

Published

on

Bitcoin-Investors King

On Wednesday, Lennard Neo, Head Of Research at Stack Funds, a Singapore-based crypto-focused fund management company, explained why they believe that “Bitcoin is very close to the bottom.

His comments about Bitcoin were delivered in a research note (titled: “Strong support observed as Bitcoins get scooped up at $30,000”), which was published yesterday.

The research analyst wrote:

“We have observed a meltdown in long liquidations (7D MA) over the past few weeks. This coupled with the Leverage ratio (grey line) falling to a 2-year low after dipping below that of March 2020 levels, provides evidence that traders are more cautious in taking positions.

“Inflows for Bitcoin have skewed to spot accumulation as opposed to speculation, as investors match their expectations towards a longer-term horizon – signaling less propensity to sell.

“In the face of the recent sell-off, we also see significant support levels around the $30,000 handle, with substantial bids coming in to fill up the offers. The strength comes on the back of Microstrategy accumulating more Bitcoins, and we have noticed that Whales are also re-entering the market as risk appetite returns. Short squeeze hunters have also begun waning away in the near term as markets continue to establish ground on a consolidation phase.“

Continue Reading

Bitcoin

Canaan Begins Its Own Bitcoin Mining Operations in Kazakhstan

Published

on

canaan- Investors King

Bitcoin mining machines manufacturer Canaan has started mining bitcoin in Kazakhstan, following the crackdown on bitcoin mining in China.

Canaan said its AvalonMiner units are already in operation in Kazakhstan. When asked how many units and of which model has been deployed, a Canaan spokesperson declined to comment on specifics but said “a first batch of small-scale mining machines” have been deployed to start with.

Canaan foresees “a gradual ramp-up to full operational functionality over time,” the spokesperson added. The company has partnered with local mining companies in Kazakhstan for the initiative, they said.

China-based Canaan has been preparing to launch a crypto mining business in Kazakhstan for some time now. Earlier this month, the Nasdaq-listed company opened its first overseas after-sales service center in Kazakhstan as its global sales continue to increase.

Kazakhstan appears to be growing in popularity for bitcoin mining after China moved to shut down local bitcoin mining farms last month. Kazakhstan is close to China and has one of the cheapest electricity rates in the world.

Earlier this week, China-based BIT Mining, formerly known as 500.com, also shipped some of its bitcoin mining equipment to Kazakhstan. The company is set to send more machines to the country next month.

Continue Reading

Cryptocurrency

Andreessen Horowitz Officially Launches New $2.2B Crypto Venture Fund

Published

on

Andreessen Horowitz /(a16z)- Investors King

Andreessen Horowitz (a16z) — prominent venture capital fund led by Ben Horowitz and Marc Andreessen — announced Thursday the close of its third crypto venture fund, a $2.2 billion fund that the firm says is the largest of its kind.

The new “Crypto Fund III” will be co-led by Chris Dixon and Katie Haun.

“The largest crypto fund ever raised to date, Crypto Fund III is a validating moment for the ecosystem and another sign that crypto becoming an ever more mainstream part of our financial infrastructure,” the firm said in a press release.

Rumors of Andreessen Horowitz (also known as a16z) raising a mega-fund have appeared in various reports in recent months. The Financial Times reported in April that the California-based investment firm would be raising $1 billion for a crypto fund. In late May, tech blogger Eric Newcomer wrote that the firm was raising $2 billion.

A source familiar with the raise now told The Block that interest came mostly from limited partners in the firm’s previous crypto funds, which have seen large returns. a16z netted more than $440 million from selling Coinbase stock soon after the exchange made its public markets debut on Nasdaq, according to CoinDesk.

a16z’s mandate in crypto has been broad, ranging from decentralized finance (DeFi) to bitcoin applications to so-called Web 3, or a decentralized version of the internet. The firm’s portfolio includes Dapper Labs, Celo, Uniswap, and Near.

“This fund allows us to find the next generation of visionary crypto founders, and invest in the most exciting areas of crypto,” Dixon and Haun wrote in a blog post. “We invest in all stages, from early seed-stage projects to fully developed later-stage networks.”

In addition to securing more than $2 billion to invest in crypto, a16z’s crypto business has been hiring aggressively. It has made a number of key hires including Anthony Albanese, who joined the firm last year from the New York Stock Exchange. Albanese is now being promoted to chief operating officer of a16z crypto.

The firm also hired Bill Hinman, a former director at the Securities and Exchange Commission, who once said ether (ETH) is not a security, and Rachael Horowitz, a veteran Silicon Vally communications strategist who previously was the top communicator at Coinbase, also recently joined. Horowitz has also held positions at Twitter, Google, and Facebook.

Additional new hires include policymaker Tomicah Tilleman, who is joining the firm as global head of policy after serving as a senior advisor to President Joe Biden.

“As with any new computing movement, crypto has endured a variety of challenges and misconceptions,” Dixon and Haun said. “That’s why we are also bringing together heavy-hitters across several functions to help translate “crypto” to the mainstream.”

The announcement of Crypto Fund III follows a flurry of recent activity in crypto venture investing. Despite the slump in coin prices, investors have been raising large sums of cash to pour into new crypto startups.

Framework Ventures recently announced a $100 million new fund to invest in DeFi. Blockchain Capital, meanwhile, recently announced a new $300 million fund with backing from tech giants PayPal and Visa.

Data from The Block shows investors poured more than $8.8 billion into startups during 2021, compared with 3.07 billion in all of 2020.

Continue Reading




Advertisement
Advertisement
Advertisement

Trending