Bitcoin has been the main attraction in the past week, as it has scaled every stiff hurdle with ease. The rally has helped its market dominance hit levels not seen since December 2017. After a long time, the traders have focused on the positives and have disregarded the negative news. This shows that the sentiment is bullish.
A rally being led by the largest cryptocurrency is a bullish sign. Some believe that the upward move is a result of increased activity by institutional players. While we are surprised by the pace of the rally, we believe that this is not sustainable and a repeat of the previous bull market is unlikely. Bitcoin will soon enter a consolidation or a minor correction that can be used as a buying opportunity.
The recovery in cryptocurrencies has enabled projects to source funds easily. Bitfinex has received hard and soft commitments for its $1 billion initial native exchange token offering. Similarly, blockchain equity loan platform Figure, backed by Morgan Creek has sealed a $1 billion “uncommitted” financing facility via blockchain.
Will bitcoin pull the altcoins higher, or will the altcoin rally indicate that the retail crowd is jumping in and a short-term top is close by? Let us see what the charts of the top five performers of the past seven days project.
Bitcoin (BTC), with its scintillating run, is back in the limelight. One of the world’s top cryptocurrency exchanges, Binance, was hacked and 7,070 in bitcoin was stolen from its hot wallets. However, the hack did not rattle the markets as it continued its uptrend after a brief pause. When markets do not correct on negative news, it is a bullish sign.
Galaxy Digital CEO Michael Novogratz expects the lifetime highs to be scaled within the next 18 months. Financial advisory firm Canaccord Genuity also arrived at a similar conclusion based on their studies: they expect bitcoin to hit $20,000 by 2021. Tim Draper, however, is even more bullish, as he expects Bitcoin to reach $250,000 by 2023.
However, we suggest traders not to get carried away by these lofty targets. Let’s see what the charts project.
The BTC/USD pair is easily breaking out of the overhead resistances. We were expecting the recovery to pause in the zone of $6,000 to $6,480.54, but the pair easily crossed this zone. It has a minor resistance at $6,850, above which the rally can extend to $7,500 and if that level is also crossed, it can move up to $8,500.
However, the sharp rally has pushed the RSI on the weekly charts into the overbought zone for the first time since early January 2018. This shows that the rally has been persistent and strong.
Any dip will find support at $5,900 and below it at $4,900 levels. The next fall might form a higher base and be the last opportunity to buy before the cryptocurrency enters a sustained long-term uptrend.
While ether (ETH) volumes on decentralized applications (DApps) hit a new high, the number of new DApps deployed on-chain is at a low, close to 2017 levels, according to crypto analytics firm Diar. Over the next 12 months, the Ethereum Foundation plans to spend $30 million for various projects across the ecosystem. Helped with a donation of $1,000 Ether each by Joseph Lubin, Vitalik Buterin, ConsenSys and the Ethereum Foundation, the Moloch decentralized autonomous organization’s total funds have reached $1 million.
An unidentified official of the US Commodity Futures Trading Commission said that an Ether-based futures product might receive the approval of the regulator if it meets the requirements. Can these bullish developments propel the cryptocurrency higher?
After defending the breakout level of $167.20 for the past four weeks, the bulls are attempting to resume the uptrend. This is a positive sign. The breakout of the ascending triangle can push the price to $256.08, above which a move to $300 is probable.
The ETH/USD pair might face some resistance at the 50-week SMA, but we expect this level to be scaled.
Our bullish view will be negated if the bears reverse direction from the current levels and sink the pair back into the triangle. Such a move will invalidate the breakout of the bullish pattern, which is a bearish sign.
More than 50% of transactions in bitcoin cash (BCH) are being generated from a single account. These are small transactions in value but are being done on a regular basis — about three to four transactions per second. Some believe that this is being done to make the network look busier than it is, while others speculate that it is being done for a test. Nevertheless, all eyes will be on the forthcoming upgrade of the network on May 15.
The BTC/USD pair has been trading in a tight range of $255 to $335.62 for the past four weeks. The attempt by the bears to breakdown from this range failed, as the bulls purchased the dip to the 20-week EMA.
Currently, the bulls are attempting to ascend the overhead resistance zone of $335.62 to $363.3. If this zone is scaled, the pair is likely to move up to $600. Though there is a minor resistance at 50-week SMA, we expect it to be crossed. Traders can buy above $370 and keep a stop loss of $260. Please use only 30% of the usual position size for this trade: if the cryptocurrency struggles to breakout of $400, traders can quickly raise the stop loss to reduce the risk.
Our bullish view will be invalidated if the price reverses direction from the overhead resistance and plummets below the 20-week EMA.
A new version Litecoin Core 0.17.1 was released which brings in new features, bug fixes, performance improvements and more. Will the bullishness in bitcoin rub off on litecoin? Let’s find out.
The LTC/USD pair has formed a cup and handle pattern, which will complete on a breakout and close above $91. This will have a minimum target objective of $158.91, but the momentum can carry it to $172.647 levels. The traders can buy on a breakout and close (UTC time frame) above $91 and keep a stop loss of $65. The moving averages have completed a bullish crossover and the RSI is in the positive zone, which suggests that the bulls are in command.
Still, please keep the position size only 50% of normal: let’s keep our risk under control.
Our bullish assumption will be negated if the price fails to breakout and sustain above $91 and drops below $65. In such a case, a fall to $40 and lower is possible.
Cybercriminals are finding new ways to exploit the vulnerability CVE-2019-3396 in Confluence, a widely used collaboration and planning software, according to a report by security intelligence firm Trend Micro Inc. Monero (XMR) is the fifth best performer of the past seven days. Can it improve its performance over the next few days? Let us find out.
The XMR/USD pair has been consolidating for the past five weeks, and has a stiff resistance at $81. The 50-week SMA is also located just above this level. Hence, we anticipate this zone to act as a stiff hurdle for the bulls.
But if the bulls breakout of the 50-week SMA, it will signal strength and can gradually move up to $120 and above it to $150. Conversely, if the bears sink the pair below $60, it can retest the lows at $38.5.
Traders can wait for the price to breakout and close (UTC time frame) above $81 to initiate long positions. The initial stop loss can be kept at $60, which can be trailed higher as the cryptocurrency moves northwards.
The market data is provided by the HitBTC exchange. Charts for analysis are provided by TradingView.
Cryptocurrency confirmed by the only stable resource on the planet – ERTC
Each of us is familiar with the phenomenon of cryptocurrencies – someone was mining, someone is earning on a change of course, sellers and a buyer, someone is investing their money and now sits on Corvalola, In all cases when no one uses cryptocurrencies to store all their savings. It is all about high volatility and their extreme instability – it is impossible to accurately predict the course, which can change the order in a short time.
At the same time, cryptocurrencies have all the advantages compared to financial money – additional security, low transaction fees, transfer speed, transparency, reliability and independence from external financial institutions. All this is done in accordance with the format of financial relations, which continues to develop dynamically.
Solutions to problems related to the voluntariness and reliability of the contribution to steel – and cryptocurrencies with a stable exchange rate.
Which resource is the most stable? The most sought after and reliable. Which resource is the patron of all existing resources? The situation and other factors affect the dependence on cataclysms. – This is the land. The Genesis 2.0 group of companies has developed the ERTC platform, which includes:
- ERTCoin – stablecoin, confirmed by legal ownership of land
- Private ERTC blockchain in which any device can be a mobile node
- SmartWallet – an electronic wallet on which ERTCoin and other currencies are stored, all transactions and purchases / sales are also carried out
- ERTCoin with legal confirmation of ownership
- The electronic payment system, which provides mobile communications, provides new opportunities and opportunities for paying for goods and services, converting, saving funds and transactions from anywhere in the world.
The issue takes place on the ERTC platform thanks to the Validation process – the procedural verification of land ownership must be confirmed.
Validation takes place in four stages:
- The user uploads a pool of documents confirming his ownership.
- The legal service and AI verify the authenticity of documents and request data in specialized services.
- ERTCoin according to the number of square meters of land
- The user receives half of the issued ERTC in their electronic wallet
Conference participants from 13 countries have already registered more than a million ERTC platforms.
Today, the ERTC team completed the first two stages and has already begun to conclude the third stage – the development of a full-cycle electronic payment system for individuals and legal entities. lack of.
The possibilities of EPS are not limited when purchasing goods, services, geography of participants, jurisdiction and economy, are not determined by geopolitical factors and are dependent on the right field and legal requirements.
A personal online bank, a private block bank with a unique technological mobile network, all these requirements make it possible to confidently assume that the electronic payment system ERTC is a promising medium-term financial one.
The ERTC project represents full-fledged opportunities for interaction with other states – “money”, in which virtually any individuals and legal entities are used — using an electronic payment system. cost of commission, convenient and affordable.
ERTC erases the geographical boundary and makes financial interaction of any level safe and comfortable.
Binance Delists Trading Pairs
Binance: to improve liquidity and user trading experience among our wide range of available assets, Binance will remove and cease trading on the following trading pairs (as requested by most project teams) at 2019/09/30 8:00 AM (UTC):
ANKR/PAX, ANKR/TUSD, ANKR/USDC, BCPT/PAX, BCPT/TUSD, BCPT/USDC, BTT/BTC, DENT/BTC, DOGE/PAX, DOGE/USDC, ERD/PAX, ERD/USDC, FTM/PAX, FTM/TUSD, FUEL/ETH, GTO/PAX, GTO/TUSD, GTO/USDC, LUN/ETH, NCASH/BNB, NPXS/BTC, ONE/PAX, ONE/TUSD, PHB/PAX, PHB/USDC, TFUEL/PAX, TFUEL/TUSD, TFUEL/USDC, WAVES/PAX, WIN/BTC.
Risk warning: Cryptocurrency trading is subject to high market risk. Please make your trades cautiously. Binance will make best efforts to choose high quality coins, but will not be responsible for your trading losses.
Metaverse Foundation Launches New DNA Token on RightBTC
Metaverse announced today that their Dual Chain Network Architecture, has officially launched the native DNA token on RightBTC, a leading cryptocurrency exchange, with trading having commenced at 6:00 am UTC, September 10th
“The listing on RightBTC will provide huge liquidity to the DNA token, as well as a valuable new stable coin on-ramp through USDT,” said Eric Gu, CEO of Metaverse Foundation. We’re very proud of the fast development and the market entrance of the Dualchain solution, and we will keep on delivering technology improvements to the industry.”
Founded in 2016, Metaverse is a pioneering public blockchain that solves three of the major pain-points for blockchain technology – scalability, security, and true decentralization. Having emerged as a top 100 blockchain project by market cap despite the tough market conditions of 2018, Metaverse is now poised to launch its full suite of blockchain products. However, Metaverse is distinctly different from other blockchain projects, bringing together multiple distributed ledger technology (DLT) innovations within one unified ecosystem.
So, what makes Metaverse different from other DLT projects, and how is their Dualchain solution disrupting the current structure of blockchain protocols
Binance Partners with Paxos to Launch USD-Backed Stablecoin ‘BUSD’
The regulated financial institution that digitizes and mobilizes assets, Paxos Trust Company, and global cryptocurrency exchange and blockchain ecosystem, Binance, today announced its partnership to launch a USD-denominated stablecoin, Binance USD (BUSD), which has received approval from the New York State Department of Financial Services (NYDFS).
Rich Teo, Paxos Co-Founder and CEO Asia, commented, “NYDFS’s approval of BUSD is a vital step towards long term stability in global crypto markets. We are proud that our stablecoin as a service offering enables trusted companies like Binance to introduce products customized for their users. The Paxos brand symbolizes regulatory integrity, consumer protection and transparency for all of our partners.”
Later this month, BUSD will be available on the Paxos platform for direct purchase and redemption 1:1 for U.S. dollars and available on Binance.com for trading initially against BTC, BNB and XRP. Paxos will serve as the USD custodian and issuer of BUSD.
“Paxos is leading the digital trusts space and we are excited to work with them in developing our native stablecoin,” said CZ (Changpeng Zhao), Binance CEO. “We hope to unlock more financial services for the greater blockchain ecosystem through the issuance of BUSD, including more use cases and utility through the power of stable digital assets.”
Additional details regarding this partnership will be revealed on-stage at Invest: Asia 2019 where Paxos’ Rich Teo and Binance’s CFO Wei Zhou will discuss it live on September 12, 2019, at 4:20 pm local time.
PNC becomes first US bank on RippleNet
PNC Treasury Management has gone live with RippleNet, becoming the first US bank to process cross border payments for its client using the blockchain platform. RippleNet, which PNC joined in September of 2018, is Ripple’s growing, global network that allows financial institutions to process customers’ payments anywhere in the world instantly, reliably and cost-effectively.
As the first US bank to process these payments in real-time, PNC offers commercial clients in the US with the ability to receive a payment from an overseas buyer against their invoices instantly, transforming the way they manage their global account receivables and allowing them to better manage their working capital.
RippleNet provides a frictionless experience to send money globally using the power of blockchain within a secure, closed payment infrastructure.
BTC, ETH, XRP, BCH, LTC, BNB, EOS, BSV, XMR, XLM
Bitcoin (BTC) has formed a series of higher lows in the past few weeks, which is a positive sign. It shows that bulls are not waiting for the price to fall to strong supports to buy, but are buying a little higher each time. As a result, we find a symmetrical triangle pattern developing on the chart.
The bulls will now attempt to push the price to the downtrend line of the triangle. A breakout of this level will indicate a resumption of the uptrend. Therefore, traders can buy on a breakout and close (UTC time) above the triangle with a stop loss of $9,000. The pattern target is $17,233.92, The rally might face resistance at $13,973.50, but we expect it to be crossed.
Our bullish view will be invalidated if the BTC/USD pair turns down either from the moving averages or from the downtrend line of the triangle and plunges below $9,080. Such a move will indicate selling at higher levels. The next level to watch on the downside is $7,451.63. Both moving averages are flattish and the RSI is just below 50, which shows a balance between buyers and sellers. Hence, we are not proposing a buy at current levels.
Ether (ETH) has broken out of the downtrend line. This shows that selling pressure has reduced in the short term. The bulls will now attempt a recovery, which will pick up momentum on a breakout and close (UTC time) above 20-day EMA.
Aggressive traders can buy on a breakout and close (UTC time) above 20-day EMA and keep a stop loss of $174. The target to watch on the upside is $235.70. There is a minor resistance at the 50-day SMA, but we expect it to be crossed. This is a counter-trend trade, hence, the position size should be kept at 50% of usual.
If the ETH/USD pair fails to ascend the 20-day EMA and turns down, it will retest the recent lows. A breakdown of $174.461 will resume the downtrend and a fall to $150 will be in the cards.
When a breakdown of a critical level fails to pick up momentum, it shows a lack of sellers at lower levels. This increases the probability of a pullback, catching many bears off guard. The failure of bears to capitalize on the breakdown of the $0.27795–$0.24508 support zone is a bullish sign. If buyers can propel XRP above the 20-day EMA and sustain the level, it will indicate strength.
Aggressive traders can buy on a close (UTC time frame) above the 20-day EMA and keep a stop loss of $0.24. If the price sustains above $0.27795, it will re-enter the range. We then expect it to gradually move up to $0.45 in the medium term. However, at current levels, this is a counter-trend trade, hence, we suggest traders keep the position size at about 50% of usual.
On the upside, there might be a minor resistance at the 50-day SMA, but we expect it to be crossed. The short-term target is $0.34229. Contrary to our assumption, if the XRP/USD pair reverses direction from the 20-day EMA and plunges below the yearly low, a drop to $0.19 is possible.
The bulls have successfully defended the trendline of the ascending channel for the past two days, but have failed to propel the price above the 20-day EMA. Bitcoin Cash (BCH) is stuck between the trendline of the channel and the moving averages.
A breakout of the moving averages can carry the price to $360, above which we expect the BCH/USD pair to pick up momentum. Conversely, on the downside, if bears break below the neckline of the developing head and shoulders (H&S) pattern, the trend will turn negative. The next support on the downside is at $166.98 and below it, a fall to $105 is possible. We suggest traders wait for the price to break out of $360 before attempting long positions.
Buying when the price is below down-sloping moving averages might result in quick losses because it is difficult to predict the bottom in a downtrend. Though Litecoin (LTC) has held the support at $69.9227 for the past few days, a failure to rebound sharply shows a lack of conviction among buyers.
Unless the LTC/USD pair bounces above the 20-day EMA within the next three to four days, the likelihood of a breakdown below $69.9227 increases. If this support breaks down, the decline can extend to $58. Conversely, a breakout above the downtrend line will be the first sign that the trend is changing. Until then, we suggest traders stay on the sidelines.
Binance Coin (BNB) has held the support at $26.202 for the past two days. However, the lack of a strong bounce suggests that bulls are not aggressively buying at current levels. A breakdown of $26.202 can result in a fall to $24.1709, which is an important support. If this level gives way, the trend will turn negative.
Conversely, if the BNB/USD pair rebounds sharply from current levels, the important resistance to watch is the 50-day SMA, because bulls have not been able to scale this in the past few weeks. A breakout and close (UTC time frame) above the 50-day SMA will signal a probable resumption of the uptrend. The pair might face minor resistance at $32.50, above which a retest of lifetime highs will be in the cards. Traders can wait for the price to sustain above the 50-day SMA before initiating long positions with a stop loss of $26.
EOS again held the support at $3.30 on Aug. 21. This is the third time the support has held since July 16, which makes it a critical level to watch out for. If bulls can now scale above the 20-day EMA, it will increase the probability of a rally to $4.8719.
Nevertheless, if bears defend the 20-day EMA and the EOS/USD pair declines to $3.30 once again, the probability of a breakdown increases. Feeble rebounds from a strong support and repeated retests of the support level within a short span of time show a lack of demand. Below $3.30, the support levels to watch are $2.69 and below it $2.18. We are currently neutral on the pair.
Bitcoin SV (BSV) has been trading between the 20-day EMA and $130 for the past few days. This tight range is unlikely to sustain for long. Soon, we will see an expansion in volatility. If the price breaks out of the downtrend line and the 50-day SMA, a quick move to $188.69 is likely. We might suggest a short-term trade if the price sustains above the downtrend line.
However, if the price breaks down of $123.67, the BSV/USD pair can plunge to $107. This is a critical support to watch on the downside. If it breaks down, the pair will turn negative. As long as the price remains below the downtrend line, we do not find any buying opportunity because it indicates that bears have the upper hand. We will wait for the trend to change before recommending a long position.
Monero (XMR) continues to trade inside the $98.2939–$72 range. The price action inside the range is usually volatile and difficult to call, hence, it is best to either establish a long position on a breakout of the range or wait for the price to correct to the support to buy.
The XMR/USD pair has formed a symmetrical triangle and will make a decisive move after breaking out or breaking down of it. A breakout of the triangle can offer a buying opportunity with a target objective of $120, while a breakdown of the triangle can result in a fall to $60 and lower. Currently, we do not find any reliable buy setups, hence, we suggest traders remain on the sidelines.
Stellar (XLM) is stuck in a tight range of $0.072545–$0.065. While bulls are supporting the price at the lower boundary of the range, bears are defending the upper boundary. After a major breakdown, if the price does not follow through to the downside, it offers a buying opportunity because it indicates a lack of sellers at lower levels.
A breakout and close (UTC time) above the 20-day EMA will be the first sign that markets have rejected the lower levels because the XLM/USD pair has not closed (UTC time) above the 20-day EMA since breaking down of it on June 25.
Therefore, aggressive traders can buy on a close (UTC time frame) above the 20-day EMA and keep the stop loss at $0.065. This is a counter-trend trade, hence, we recommend keeping the position size only about 50% of usual. The first target on the upside will be a move to the 50-day SMA and above it $0.097795.
Conversely, if the XLM/USD pair breaks below $0.065, it will resume the downtrend that can extend to $0.05.
Market data is provided by the HitBTC exchange.
Seoul to Release Native Cryptocurrency by November in Blockchain Smart City Transition
Seoul is nearing several significant milestones in its journey towards becoming a blockchain smart city, blockinpress reports. By November, it aims to have the following in place:
- Public services accepting Korea’s national blockchain ID system as valid documentation.
- A blockchain system for managing part-time worker labour contracts, insurance and work history.
- A native city-wide cryptocurrency, dubbed S-coin.
According to blockinpress, S-coins will be redeemable for rewards and given to citizens when they use public services and participate in citizenship duties, such as paying taxes and participating in public opinion polls.
Beyond that, the potential applications of a digital currency such as S-coin are almost limitless, as a way of shaping people’s behaviour and streamlining interactions in the smart cities of the future.
The value of S-coin
To understand the value of the S-coin – the real rather than speculative value – it’s important to understand that one of the guiding principles of Seoul’s smart city program is to put engaged citizens at the centre of everything. After all, a city (and the entire planet for that matter) is for the benefit of its inhabitants first and foremost.
A native cryptocurrency is an excellent way of incentivising desirable behaviour in an organic way.
As people have previously said, government incentives have historically been oriented almost solely around punishments. Citizens behave because they get punished if they don’t. But just about every piece of behavioural research on the planet says a combination stick and carrot approach is by far the best way to instil desirable behaviour in humans and other animals.
Coinbase continues to explore support for new digital assets
Coinbase’s goal is to offer support for all assets that meet our technical standards and which comply with applicable laws. Over time we expect our customers around the world will have access through Coinbase to at least 90% of the aggregate market cap of all digital assets in circulation. To make this vision a reality, we evaluate prospective assets against our Digital Asset Framework to assess factors like security, compliance, and the project’s alignment with our mission of creating an open financial system for the world.
Digital Assets Under Review
Today we’re announcing that we are exploring the addition of a range of new assets. As part of the exploratory process, customers may see public-facing APIs and other signs that we are conducting engineering work to potentially support these assets.
These new assets include, in alphabetical order: Algorand, Cosmos, Dash, Decred, Matic, Harmony, Ontology, and Waves.
Our decision to support any asset requires significant technical and compliance review and may be subject to regulatory approval in some jurisdictions. We therefore cannot guarantee whether or when any above-listed asset will be listed on a Coinbase product in any jurisdiction.
As per our listing process, we will add new assets on a jurisdiction-by-jurisdiction basis, subject to applicable review and authorizations. The omission of assets from this publication does not disqualify any asset from active review and potential listing.
Our customers can expect Coinbase to make future, similar announcements as we continue to explore the addition of numerous assets across the platform.
Iran Announces New Rules to Regulate Cryptocurrency Market
New rules have been introduced by the Iranian government for regulation of cryptocurrency market as more people become interested in mining digital coins as a way of accessing international currencies at the time US sanctions.
A bill ratified by the Iranian Cabinet and released on Sunday said that the government will not recognize as lawful any trade activity carried out inside Iran involving cryprocurrencies.
It said the government and the banking system would not view the digital coins as legal tender and the Central Bank of Iran would not guarantee their value.
However, the bill said mining digital currencies would be allowed inside Iran under certain conditions, including if miners obtain the approval of Iran’s industry ministry, do not mine the currencies inside a 30-kilometer boundary of all provincial centers except for the capital Tehran and the central city of Esfahan where tougher restrictions apply.
It said the miners should also observe rules set by Iran’s standardization and communications authorities for mining machines, adding that certain fees will be applied for the energy used for mining the currencies.
Discussing the fees, the bill said authorized mining farms should be charged for the electricity, or the natural gas used to generate electricity, based on prices applied for the export of energy from Iran.
It said mining farms would be taxed like industrial manufacturing units unless the owners return the money earned from the export of their digital currencies back to Iran’s economic cycle.
The bill said Iran’s ministry of industry shall be free to devolve its powers to authorities in special economic zones if foreigners want to set up mining farms in those areas.
The new rules comes more than a month after reports suggested that mining farms were mushrooming across Iran in places where subsidized electricity was on offer.
Authorities had hinted in the midst of a crackdown on those farms that they would recognize cryptocurrency mining as it could ease government’s access to sources of foreign currency at a time of US sanctions.
PrimeXBT Meets Growing Demand for Bitcoin Margin Trading with New iOS App
Over the last few years, the popularity of margin trading in the crypto industry has grown extensively and blossomed into its own competitive space of well-established crypto exchanges all vying for a slice of the pie.
But one trading platform, again and again, stands out from the rest of the pack. PrimeXBT has repeatedly taken steps to improve its value proposition to traders in the market, offering advanced trading tools, and an ever-growing list of financial assets that include crypto, forex, commodities, stock indices, and more.
PrimeXBT Launches New iOS App Following Successful Android Launch
Ahead of even more features hitting the platform with a planned copy-trading module through a partnership with Covesting, PrimeXBT has rolled out the iOS version of their mobile app, following the success of the Android app release.
After the Android app released on the Google Play store, traders voiced their desire for PrimeXBT to launch an iOS counterpart, so iOS users could access the advanced trading platform while on the go from their iPhones and iPads. Apple devices are among the best selling smartphones and tablets on the market, with hundreds of millions of customers across the globe, many of which are PrimeXBT clients.
PrimeXBT quickly responded by providing traders with the tools they need most and launched an iOS app last week.
App Launch Represents Milestone Moment for PrimeXBT
The mobile app release represents a milestone for the brand – a culmination of months of work coming to a climax. PrimeXBT has expanded from five of the most popular crypto assets – Bitcoin, Ethereum, Ripple, Litecoin, and EOS – paired against USD, to a full slate of crypto/BTC pairs, commodities, stock indices, and 18 of the world’s most popular forex currencies.
The company also secured a partnership with Covesting to bring its cutting-edge copy-trading technology to PrimeXBT through the Covesting module. Soon, traders will be able to launch their own fund, amass a following, and discover new income streams from their regular trading daily activities.
Through regular, impactful updates, listening closely to their client’s needs, and providing the most stable and secure experience in the Bitcoin-based margin trading space, PrimeXBT has seen its trading volumes surge, and new user registrations spike.
The boost is two-fold, PrimeXBT is gaining popularity through word of mouth over the trading tools, assets, and lucrative referral system, but also due to traders fleeing BitMEX over fears of shutdown or worse.
What to Expect from the PrimeXBT iOS Application
The PrimeXBT iOS app has all of the same features of the desktop experience with a slightly modified UI that’s just as simple-to-use an easy-to-understand. All available assets are included for trading at up to 100x leverage (up to 500x for forex trading), and performance can be tracked in real-time.
Traders will be able to do everything from read charts, to place and modify orders, set stops and take profit prices, and so much more.
The iOS app is available on the Apple App Store for iPhone and iPad. An Android app is also available on the Google Play Store. Both are offered to clients for free as a courtesy from PrimeXBT and a genuine urge to give their clients the best possible options for success.
Because Bitcoin-based margin trading has grown into a sort of industry and competitive space of its own, it demonstrates just how far ahead the trading platform is compared to the rest of the participants in the market.
How PrimeXBT’s iOS Stacks Up to the Crypto Competition
The main leaders in this area, are BitMEX, PrimeXBT, ByBit, and Deribit. Other platforms such as Poloniex, OKEx, and even the recent addition of merging trading on Binance, offer anywhere from 2% to 5% leverage, making them a poor option for those seeking more from a trading platform.
Out of the Bitcoin-based margin trading leaders, only PrimeXBT and Deribit offer iOS applications for their clients to manage their positions and portfolio while on the go. Oftentimes, during extreme volatility, mobile sites can be difficult to work with making a native iOS or Android mobile app extremely valuable to traders. But only PrimeXBT and Deribit make things easy for their clients.
But when comparing Deribit to PrimeXBT in terms of overall features offered, there is no competition. While Deribit may not lack an iOS app as the others do, they only offer Bitcoin trading – no additional crypto assets or financial assets are included for trading on the app, or on the platform at all for that matter.
Due to the clear advantage PrimeXBT has over the others, the addition of the iOS app is the metaphorical icing on the cake of an already attractive trading platform, designed for the world’s best and most profitable traders.
With PrimeXBT so far ahead of the competition both in terms of accessibility and purely from a features perspective, the trading platform becomes the most logical choice for traders seeking the most from their trading experience.
From advanced trading tools, an iOS app, to an unparalleled diversification opportunity, and so much more, PrimeXBT should be a regular part of any trader’s arsenal of profit-generating tools, and this new iOS app makes it even easier and faster to access those tools.
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