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Digest: The Main News On The Cryptocurrency Market (February 8-14)

Tesla’s investment in Bitcoin at the beginning of the week had a bomb-like effect – Twitter spoke openly about the prospect of buying crypto, Bitcoin soared to almost $50,000, while analysts began to bet on when and in what format Apple will join the crypto space it will be. Let’s look at what the crypto market has lived this week and what events are worth paying attention to.

No gifts for such a holiday? Noway! What presents have we prepared for February 14?

February 14 is Valentine’s Day, and, of course, we have prepared gifts for our beloved users. What exactly? The opportunity to create greeting digital valentines and win a trip for two to one of the Emirates – Dubai.

The holiday is not limited only to this day of the week and it will last a whole month!

So here are a few key points. What kind of valentines are these?

Binaryx launched its own token – SVDT (St. Valentine’s Day Token), which is designed particularly to take advantage of a new unique opportunity – to show your feelings for someone (or something ?) in an original way.

  1. Everyone can take part in the activities.
  2. All registered (and existing platform members) have already received 100 SVDT free of charge, which can be converted into congratulations and voting.
  3. The promotion runs from February 14 to March 14. During this period, the opportunity is available to create your own crypto valentine on the site and vote for it to gain the highest number of points. 
  4. The more activities, the higher the rating of your congratulations. Moreover, the higher the congratulations are in the rating, the more chances you have to take prizes and win valuable prizes.

Winners of the first three places will receive:

  • Romantic trip for two to Dubai
  • Apple Watch 6
  • AirPods Pro
  • 4-7. Electronic wallets (for cold storage of cryptocurrency)

But the gifts are not over. Additionally, among all the participants, as many as 7 prizes of 1000 SVDT each will be drawn at random!

Will the token rise in price by itself – Yes! Its emission is limited and all tokens that will not be distributed to the participants of the action will be burned.

The algorithms of the token are such that every day it rises in price by 14%. Every day it becomes more and more expensive to buy it, therefore, the best solution would be to purchase it at the very beginning of the promotion! The initial par value of the 1st SVDT will be equal to USD 0.01, and at the end of the promotional period, it will be almost USD 4.

What will happen to the token after the promotional period?

This token will be available for trading in the Binaryx terminal, with its help you can perform various activities in the future, which we will talk about in the following promotions and posts! Also, you can read more about the token in our blog.

We tried to create something new and interesting for you, as well as to introduce you to the world of digital assets, which is more and more integrated into our everyday life. Use these tokens so that they bring a pleasant surprise to you and your beloved ones!

Happy St. Valentine’s Day!

Twitter is considering Bitcoin purchase 

The news that Tesla has invested $1.5 billion in Bitcoin triggered a chain reaction among the global largest players, which was quite expected. Twitter could jump on the fast-moving crypto train shortly. Ned Segal, the CFO of the company, announced this in an interview with CNBC.

The Twitter leadership is exploring possible use cases for Bitcoin for internal and external corporate policy. Today, there are already talks about paying salaries to the company’s employees in Bitcoins at their request. Also, an item on the agenda is the possibility to use cryptocurrency for partial payment for the services of Twitter partner companies.

We are looking at the prospect of internal wages and transactions with our service vendors in Bitcoin. No final decision has been made yet. We continue to monitor market sentiment and will respond to this request.

Anthony Pompliano, a crypto enthusiast, commented on this interview with the CFO of Twitter. He is confident that after Tesla, the crypto wave will be picked up by Twitter and other multi-billion dollar corporations. According to Pompliano, “from now on, the chief financial officer of every large company will be asked about the presence of Bitcoins on the balance sheet.” It’s unavoidable. 

Recently, there has been an extremely serious information noise around BTC. On the one hand, this is alarming, and on the other hand, it gives confidence that even if the main cryptocurrency goes down, it will be used as a means of payment or accumulation.

On the Stripchat platform, crypto payments increased by 400%

While traditional businesses were struggling with the pandemic, adult websites gained a new wave of popularity. At the same time, in 2020, the trend towards using cryptocurrency to pay for the services of webcam models, to access premium accounts, and other additional “buns” was clearly outlined.

A prime example is Stripchat, an adult content platform. In 2020, traffic on the site grew by 72%, the monthly audience of the site approached 60 million users. Since the beginning of 2020, the number of transactions with cryptocurrency on the website has grown by 400%. More than 10% of porn models chose to pay for their works by cryptocurrency instead of fiat money.

Today Stripchat accepts 12 cryptocurrencies and, as it turns out, is quickly picking up “crypto trends”. After a recent tweet by Elon Musk about DOGE as a “people’s cryptocurrency”, the token immediately appeared on this list. Also, Pornhub does not hide its love for cryptocurrency, especially after Mastercard and Visa refused to work with this platform. Pornhub accepts over 16 cryptocurrencies as payment, including Bitcoin, Ethereum, Monero, Litecoin, XRP, Dogecoin.

Pornhub does not hide its “love” for cryptocurrency, especially after Mastercard and Visa refused to work with this platform. Pornhub accepts over 16 cryptocurrencies as payment, including Bitcoin, Ethereum, Monero, Litecoin, XRP, Dogecoin.

DeFi goes mainstream and may lead Web 3.0

This week, a comprehensive study of the DeFi market and its impact on the development of Internet technologies were presented. Thanks to the DeFi boom, concepts such as staking, pharming, and swapping have taken root in 2020 in the lexicon of not only crypto enthusiasts. Institutional investors from Wall Street are increasingly involved in this area. As a result, DeFi’s market capitalization grew by 4300% over the year to reach $ 45 billion.

Today there are over 230 DeFi apps, and this number is literally increasing daily due to the development of new products. As it scaled, DeFi has spurred the transformation of the current Web 2.0 system of Internet technologies to a completely innovative and decentralized Web 3.0 infrastructure. We are witnessing the formation of a fundamentally new economy in which privacy, the user’s right to financial freedom will come first.

Ethereum was the driving force behind the development of Web 3.0. According to Electric Capital, “Ethereum has 4 times more developers than any other crypto ecosystem.” Thanks to continuous scaling, Ethereum can lead the next generation of decentralized applications and become a key link in the Web 3.0 system.

Today, we are ahead of the curve on technical indicators in the DeFi sector charts. If most of the crypto added 100% in the last run bull, then DeFi projects are 200-300%, and they are not going to stop for now. So it is worth taking a closer look at them and purchasing assets after a local correction.

Tesla first, then Apple?

With Tesla Motors investing in Bitcoin, the intrigue is heating up as much as possible – will Apple be the next institutional player to join the crypto space? Of course, analysts see Apple as a potential participant in the big crypto race and are deliberately considering scenarios in which format the company can enter the crypto market.

Experts from the Canadian bank Capital Markets believe that Apple needs to create its own cryptocurrency exchange. Thanks to this solution, the company can make a revolution in the crypto industry and, as a result, get multiple profits. According to preliminary estimates, the launch of the marketplace will allow Apple to generate additional annual revenue of $40 billion and more.

Today, Apple’s market capitalization is more than $2.2 trillion. Hypothetically, if a company allocates $ 200 billion for the purchase of Bitcoin, it will become the owner of about 25% of the Bitcoins that are in circulation.

With just a few clicks, Apple can swallow a significant chunk of the crypto market. As a result, the US will establish a clear lead in the crypto industry for at least 20 years

After Tesla’s announcement, bitcoin staged a victorious march from new all-time highs and came close to $50,000. If Apple follows Tesla’s lead, it will further spur demand for cryptocurrency and, therefore, push Bitcoin upward. 

We are all waiting for the outcome of the lawsuit. It gives XRP a lot of volatility; any newsfeed becomes the foundation for fluctuations. The amplitude for today is almost 40%, and at this moment several DeFi projects of the sector can take away the leadership in capitalization from Ripple.

XRP may leave the top 5 cryptocurrencies by market cap

In the ranking of cryptocurrencies by market capitalization, there is an intensified struggle, which in the future can bring new players to the top positions. XRP this week has already found itself literally “in the balance” several times from losing its 5th place. The Ripple token is breathing down the back of Polkadot (DOT), which has been in an upward channel since mid-January.

XRP risks leaving its positions as a result of a new alt season, which analysts say is already on the way. Despite the advances that XRP has shown in recent weeks, the token could not keep up with competitors that are gaining momentum more quickly. In particular, over the past 7 days, Polkadot has increased by more than 40% and reached a market capitalization of $25.3 billion.

Another strong competitor for XRP is Cardano (ADA). On February 8, Cardano surpassed XRP and took 4th place in the ranking. The token has risen in price by 90% in the previous week and reached a market cap of $26.2 billion. Nevertheless, XRP is still ready to compete for the status of one of the top 5 cryptocurrencies and, according to some analysts, will soon “come out of the shadows.” At the time of writing, XRP is trading at $0.54.

We are all waiting for the outcome of the lawsuit. It gives XRP a lot of volatility; any newsfeed becomes the foundation for fluctuations. The amplitude for today is almost 40%, and at this moment several DeFi projects of the sector can take away the leadership in capitalization from Ripple.

ConsenSys unveiled AirSwap upgrades

ConsenSys, an Ethereum software company, was in the spotlight this week. The team unveiled an updated version of AirSwap, a peer-to-peer exchange system that aims to protect traders from market manipulations such as price outperformance or slippage.

This task has been achieved through the use of the exchange request for quotations (RFQ) protocol and atomic swaps for settlements. According to one of the leaders of ConsenSys, RFQ systems can minimize the cost of gas to users, and contribute to the formation of more favorable pricing. In the future, AirSwap RFQ can cover about 40% of the volume of decentralized trading and become the best solution for OTC transactions.

ConsenSys also encourages users and developers to join the development and improvement of the AirSwap ecosystem. Proposals who get approved will be able to receive AirSwap tokens. To date, 15 improvement proposals (AIPs) have been published, some of which have already been implemented.

For those who do not know what AirSwap is, I will tell you in a nutshell: it is a decentralized platform that should help minimize spreads and eliminate the possibility of arbitrage between systems, as well as provide peer-to-peer trading opportunities without intermediaries and commissions. Something like this 🙂

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