๐Ÿš€ Two of Crypto's Largest Exchanges have Just Made a move today... Traders take note๐ŸŒŠ

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๐Ÿš€ Two of Crypto's Largest Exchanges have Just Made a move today... Traders take note๐ŸŒŠ

Hello Geckos!


Here's a random Friday heart-to-heart from the CoinGecko team to all of you, our fellow Gecko Readers - Thank you for supporting us all these while and more importantly, congratulations for sticking through the boring bear market times as we undoubtedly are headed towards the next cycle.

 

By the way, if you happen to be new to the whole crypto scene, don't feel left out by the message above. You did the smart thing by subscribing to The CoinGecko Newsletter. Few Understand ๐Ÿ˜‰.

 

While we're on the topic of the ๐Ÿ‚ market, you should definitely check out our latest August Crypto Report (yes, we're doing month-to-month now!). Sneak peek, the MVP of the month is this little thing that starts with a "D".

 

And as many of the veterans will know, with the rise of the crypto hype, scammers will inevitably come back out of the woodwork to try and steal your crypto and worse, life savings away from you.

 

However, at least this time round, scammers beware - it's not going to end well for them. Big Brother is actively on the hunt for scammers and they will eventually have to face the music.

 

So, strap on to your hardware wallets. If you blink, you miss!


Have a great weekend ahead!

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CoinGecko's August 2020 Monthly Crypto Report is now out!


Our report covers the overview of the cryptocurrency market, including the top-30 market capitalization, market dominance, Decentralized Finance (DeFi) token performance, and a snapshot of cryptocurrency exchanges!


Sneek Peek:

Some of the things covered are the top-30 market capitalization recorded a new yearly high of $343B (+11%), breaking its previous record of $319B last July!


On top of that, Chainlink (LINK) and Polkadot (DOT) rose as one of the top-5 cryptocurrencies, replacing Bitcoin Cash (BCH) and Cardano (ADA) from the previous month. 


We are covering so much more and you can read more here!

BitMEX adds futures pair for 2 new assets

For the first time in two years, BitMEX will be adding new futures markets, they are Chainlink (LINK) and Tezos (XTZ). The new markets will be traded against Tether (USDT) instead of bitcoin (BTC).


The last futures market to be added was TRON (TRX), back in June 2018.


According to BitMEX this is due to the fact that USDT pairs account for over 60% of altcoin trading volume.


In addition, new trading contracts will be made available for EOS and Cardona (ADA), two assets that are already traded in futures markets on the exchange.


(Editor: When BitMEX makes a moves, traders tend to listens. Is this move a bellweather for what's to come for the whole industry? ๐Ÿ‚!)


BitMEX

Zug will accept bitcoin and ether for taxes

The Swiss canton of Zug will begin accepting taxes in bitcoin and ether (ETH) from February 2021.

 

However, the limit is set at an equivalent value of 100,000 CHF.

 

Bitcoin Suisse, a crypto broker and custodian, will be in charge of converting the tax payments received in crypto into Swiss francs.


(Editor: One step at a time, tax acceptance may be a sign of governmental acceptance towards cryptocurrency as money. ๐Ÿ‚!)


CoinDesk

Binance Launches Automated Market Maker Program

Binance has launched Binance Liquid Swap, which aims to provide instant liquidity and lower fees via an automated market maker (AMM).

 

This new product will be competing with the likes of Uniswap and Mooniswap where users will be allowed to become liquidity providers by adding funds to the Liquidity Pool. In return, a share of the fees will be provided.

 

At launch, there will be three pairs; BUSD/USDT, BUSD/DAI. And USDT/DAI.

 

(Editor: This is an obvious DeFi play by Binance, one of the largest Centralized Exchange. However, I think we should take it as a good news since we all know that the DeFi revolution is inevitable. By the way, will you be trying out Binance Liquid Swap? )


Binance

Satoshi

Decentralized Finance (DeFi) refers to the movement of building decentralized financial applications that have no central authority and is censorship free. DeFi applications cover many use cases and a few popular ones are stablecoins, lending/borrowing and trading (decentralized excanges). By removing the middleman in systems, DeFi applications are able to achieve a better rate of returns for its users, while lowering barrier of entry as the application does not discriminate or censor any particular party from joining.

Owning its name to the name of the Bitcoin creator, Satoshi Nakamoto. A Satoshi is the smallest divisible fungible unit in the bitcoin protocol, meaning the smallest amount of bitcoin one can send is 1 satoshi, or 0.000000001 bitcoin.

Decentralized Finance (DeFi) refers to the movement of building decentralized financial applications that have no central authority and is censorship free. DeFi applications cover many use cases and a few popular ones are stablecoins, lending/borrowing and trading (decentralized excanges). By removing the middleman in systems, DeFi applications are able to achieve a better rate of returns for its users, while lowering barrier of entry as the application does not discriminate or censor any particular party from joining.

Decentralized Finance (DeFi) refers to the movement of building decentralized financial applications that have no central authority and is censorship free. DeFi applications cover many use cases and a few popular ones are stablecoins, lending/borrowing and trading (decentralized excanges). By removing the middleman in systems, DeFi applications are able to achieve a better rate of returns for its users, while lowering barrier of entry as the application does not discriminate or censor any particular party from joinLearn about other Crypto terms here

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