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OKX Exchange to List WIF and MEW for Spot Trading

OKX, a well-known cryptocurrency exchange, has recently revealed its plans to list two new tokens, WIF and MEW, on its spot trading market. The announcement highlights the deposit and spot trading schedules for these tokens, providing an opportunity for users to engage in trading activities.

According to the announcement, WIF and MEW deposit services will be available from 7:00 am UTC on April 15, 2024. This allows users to deposit their WIF and MEW tokens onto the OKX platform in preparation for trading.

Spot trading for MEW against USDT will commence at 8:00 am UTC on April 15, 2024, while spot trading for WIF against USDT will begin at 9:00 am UTC on the same day. These trading pairs present an opportunity for users to buy and sell WIF and MEW tokens directly on the OKX platform.

Furthermore, the announcement states that withdrawals for WIF and MEW will be enabled at 10:00 am UTC on April 16, 2024. This ensures that users have the flexibility to transfer their tokens out of the OKX platform if they wish to do so.

WIF, also known as “dogwifhat,” is a meme coin on the Solana network. It features a dog wearing a hat as its logo and aims to capture the attention of the crypto community with its unique concept. The maximum supply of WIF tokens is set at 998,926,392.

On the other hand, MEW, the cat-inspired cryptocurrency, is determined to establish its dominance in the crypto realm. With the objective of surpassing its canine rivals, MEW aims to reclaim its position at the top of the food chain. The maximum supply of MEW tokens is set at 88,888,888,888.

As with any cryptocurrency investment, it is important to exercise caution and conduct thorough research before engaging in trading. Digital assets are highly speculative and subject to market volatility. It is essential to evaluate your risk appetite and make informed decisions regarding your investments.

For further information or inquiries, users are encouraged to reach out to OKX’s support center or connect with them on various platforms, such as Telegram and Discord. OKX advises users to refer to their Terms of Service and Risk & Compliance Disclosure for more details on trading digital assets.

In conclusion, the listing of WIF and MEW on OKX’s spot trading market presents an exciting opportunity for users to explore and engage in cryptocurrency trading. By following the provided schedules and conducting proper research, traders can take advantage of these newly listed tokens on the OKX platform.

Image source: Shutterstock

Binance Eliminates Fees on Spot Bitcoin Trading to Mark 5th Anniversary

Binance, the world’s largest cryptocurrency exchange by trading volume, is celebrating its 5th anniversary by lifting some trading fees of Bitcoin spot trading pairs.

The exchange said the fee cut would apply to 13 pairs, including BTC/USDT, BTC/BUSD, BTC/USDC, BTC/EUR, and BTC/TRY, amongst others.

The exchange said the fees would be applied indefinitely from July 8. The trading platform came into existence back in July 2017 and has grown as one of the most go-to places for spot and futures trading.

“In line with our user-first philosophy, Binance has always strived to provide the most competitive fees in the industry. At its core, Binance is an inclusive platform with accessibility in mind. Eliminating the trading fees on selected BTC spot trading pairs is another move towards that direction,” said Chanpeng Zhao, Binance Chief Executive Officer and Founder.

“Within the span of five years, Binance has amassed an amazing community that believes in us and supports our vision. Our growth and achievements would not have been possible without them. We hope to give back to the community by providing them with the world’s best products and services.”

The move to cut fees is not the first from a Binance-affiliated entity. Last month, the trading platform’s offshoot in the United States, Binance.US, said it was removing spot Bitcoin trading fees as it looks to chart a course that can entice more retail customers to its platform.

While it boasts of offering one of the best fees in the industry, the trading platform noted that the suspended fee cut will help reposition it as the leader in the industry. Binance’s move is against the current tide in which crypto exchanges are cutting costs and sourcing revenue as the crypto winter bites on.

Besides cutting off revenues through fee cuts, the exchange also said it would hire 2,000 additional staff before the end of the year.

Paysafe Halts EUR Deposits for Binance Users: What You Need to Know

Key Takeaways

* Paysafe Payment Solutions Limited discontinues EUR deposits for Binance users.

* Affected users have until October 31, 2023, to convert EUR balances to USDT.

* Multiple Binance services, including Spot Trading and Auto-Invest, impacted.

Paysafe Payment Solutions Limited (Paysafe) has unilaterally decided to cease processing EUR deposits for Binance users, effective September 25, 2023, at 00:00 (UTC). The abrupt move has left many in the crypto community puzzled, as no clear reason has been provided for the decision.

Binance has advised Paysafe users to convert their EUR balances to USDT before October 31, 2023, at 00:00 (UTC). Users can also continue to withdraw their EUR balances to their respective bank accounts. The company assures that all funds are secure and that other crypto-related services remain unaffected.

The decision has led to a series of disruptions across various Binance services:

Spot Trading: Effective from September 28, 2023, at 04:00 (UTC), all Paysafe users will be unable to trade EUR spot trading pairs. Open orders on these pairs will start to be canceled from September 28 at 05:00 (UTC).

Buy/Sell Crypto: Starting from September 28, 2023, at 04:00 (UTC), users will no longer be able to buy or sell crypto with EUR balances.

Binance Convert: The Convert feature will be restricted to EUR reduce-only mode from September 28 at 04:00 (UTC).

Auto-Invest: Auto-Invest EUR plans for Paysafe users will be paused from September 28 at 04:00 (UTC).

Binance is actively working to integrate new fiat channels to mitigate the impact of this decision.

Binance's Market Dominance Challenged as OKX and Upbit Gain Ground

The 2023 CEX Market Report by 0xScope, published on November 6, 2023, provides a comprehensive overview of the changing landscapes within the centralized exchanges (CEXs) over the past year. It highlights the shifting dynamics and the rise of second-tier exchanges like OKX and Upbit challenging Binance’s previously uncontested dominance.

Binance’s grip on the market has loosened, with its trading volume and other indicators shrinking by approximately 10%. Despite holding more than half of the market’s share at 51.2%, there’s been a noticeable decrease from its 54.6% share in October 2022.

Spot trading competition has intensified, with Binance’s share dropping from 62% to 52.5% over the year. Upbit’s ascent in the market has been significant, leaping from a 5% to a 15.3% share, largely propelled by the vibrant South Korean market.

While Binance still leads in derivatives with a share of around 45%, down from 50.9%, it is facing rising competition. OKX, in particular, has marked its territory, climbing from a 10% to a 15% share in derivatives, signifying a broader shift in the CEX ecosystem.

An examination of on-chain data and asset values shows that established exchanges like Binance, Coinbase, and Bitfinex collectively hold over 80% of market exchange funds. However, a mere 5% decline in Binance’s asset value share indicates a redistribution of market trust towards competitors like OKX and Coinbase.

Binance and Coinbase collectively account for over 60% of the CEX market’s deposit addresses, but the monthly increase in new deposit addresses has been waning, showcasing a challenge in new customer acquisition.

Analyzing web and social media data, Binance has seen a dip in website traffic and Twitter follower share, despite a net increase in followers. In contrast, OKX has witnessed its Twitter followers nearly triple, suggesting an aggressive and successful growth in market visibility.

Notably, the report emphasizes the lack of a direct correlation between web presence and exchange performance. It also acknowledges potential discrepancies due to the opaqueness in exchanges’ on-chain addresses.

This report serves as a critical barometer for understanding CEX dynamics, highlighting that while Binance remains at the forefront, it is facing a significant challenge from emerging players reshaping the market share equation.

Coinbase International Exchange Launches Non-US Spot Markets

One of the most prominent cryptocurrency exchanges situated in the United States, Coinbase, has just announced a considerable increase of its service offerings. It is also important to note that this expansion is geared towards institutional investors located outside of the United States, since they now have access to spot cryptocurrency trading services on the Coinbase International Exchange. In the beginning, the service, which was launched on December 14, 2023, let users to trade Bitcoin (BTC) and Ether (ETH) against USD Coin (USDC).

As a strategic reaction to the ever-changing and unclear regulatory environment in the United States, Coinbase has made the choice to create spot markets in countries other than the United States. A number of asset issuers and members of the cryptocurrency community have shown reluctance to interact with exchanges in the United States as a result of this uncertainty. The new service is intended to meet the specific requirements and expectations of Coinbase’s worldwide user base by providing a spot market that is reliable and does not violate any regulations in the United States.

Several stages will be involved in the introduction of spot trading on the Coinbase International Exchange, as well as its further growth. In the beginning, the service is exclusively accessible to institutional customers located outside of the United States via API access. Before beginning to grow the business, Coinbase intends to carefully construct a solid basis and gradually increase the amount of liquidity. The platform will be expanded in the next months to include retail customers, other assets, and features that allow new trading techniques and boost capital efficiency. These enhancements will be made possible by the product’s expansion.

The fact that Coinbase was able to get registration to operate in Spain and Singapore earlier in the year is evidence of the company’s dedication to expanding itself around the world. There was a total of $10 billion worth of perpetual futures volume exchanged in the most recent quarter, indicating that the international derivatives exchange that the business operates out of Bermuda has already shown tremendous growth. On the other hand, the firm is now engaged in a legal dispute with the Securities and Exchange Commission (SEC) about charges that it operates as an unregistered exchange and broker-dealer for certain crypto assets.

Binance Enhances Trading Options with New Pairs and Bot Services

Binance, the world’s leading cryptocurrency exchange, has recently announced a significant expansion in its trading services. On January 11, 2024, Binance introduced new spot trading pairs and launched trading bot services, marking a substantial enhancement in its offerings on Binance Spot. This strategic move is aimed at expanding the trading choices available to users and enhancing their trading experience.

Introduction of New Trading Pairs

Binance has opened trading for several new pairs, including MOVR/TRY, LDO/FDUSD, ICP/FDUSD, SKL/TRY, STX/FDUSD, and TIA/FDUSD. These pairs were made available from January 11, 2024, at 08:00 UTC. The introduction of these pairs demonstrates Binance’s commitment to diversifying its trading options and catering to the evolving needs of its global user base.

Launch of Trading Bot Services

In a parallel move, Binance has enabled trading bot services for specific pairs, effective from the same date. These services include Spot Grid, Spot DCA & Rebalancing Bot for AI/USDT, NFP/USDT, and Spot Algo Orders for SKL/TRY, STX/FDUSD, TIA/FDUSD. Trading bots have become increasingly popular among traders for automating trading strategies and managing trades more efficiently.

Focus on FDUSD and Turkish Lira Trading Pairs

Another notable aspect of this development is the emphasis on FDUSD stablecoin and Turkish Lira trading pairs. Binance has been proactive in supporting the FDUSD stablecoin, which has seen a substantial rise in its market cap, distinguishing it from other industry giants. Zero maker fees on FDUSD trading pairs have been introduced as an additional benefit for users.

Binance’s Response to Market Demands

These developments are a response to the dynamic and ever-changing landscape of the cryptocurrency market. By expanding its trading services, Binance is not only broadening the choices for traders but also reflecting its adaptability and responsiveness to community needs and market trends.

Regulatory Considerations

While Binance continues to innovate and expand, it’s important to note that its approach has occasionally raised regulatory concerns. Despite ongoing disputes and challenges, Binance remains dedicated to listing a diverse range of cryptocurrencies, including those classified as securities by the U.S. Securities and Exchange Commission (SEC).

Conclusion

The introduction of new trading pairs and trading bot services by Binance marks a significant step in its journey to provide comprehensive and sophisticated trading options to its users. This move underscores Binance’s commitment to staying ahead in the rapidly evolving cryptocurrency market, offering advanced tools and diverse trading options to cater to the varied needs of its global user base.

EDX Markets is Expanding in Singapore

Cryptocurrency trading platform EDX Markets, backed by heavyweights like Citadel Securities and Fidelity Digital Assets, is broadening its horizon with a strategic expansion into Singapore. This move marks a significant step in EDX Markets’ growth trajectory, following a successful second funding round co-led by Pantera Capital and Sequoia Capital. Although the exact funding size remains undisclosed, the investment enthusiasm is evident as shares were purchased at double their initial 2022 value.

EDX Markets’ foray into Singapore is not just a geographic expansion; it’s a strategic diversification of its product offerings. The company plans to introduce spot and perpetual futures trading, catering to a wide array of investors and traders in the dynamic Asian financial hub. Singapore’s robust financial ecosystem and its open-arms approach to fintech innovation make it an ideal location for EDX Markets to diversify its product suite and tap into a rich pool of financial talent.

This expansion is underpinned by the launch of EDX Clearing, a cutting-edge, non-custodial clearing solution for digital asset trading. This feature significantly elevates EDX’s marketplace, offering a competitive edge by enabling a single net settlement process through EDXC. This innovation not only reduces credit risk but also streamlines the trading process, thereby attracting more institutional investors.

The company’s approach to custody is another aspect worth noting. In a market where custodial services are a hot topic, EDX Markets has chosen to partner with Anchorage Digital for custodial services, ensuring that users can trade without the need for pre-funding in fiat or cryptocurrency. This non-custodial model is a strategic move to mitigate the risks associated with fund co-mingling, making the platform more attractive to cautious institutional investors.

EDX Markets’ expansion into Singapore and its innovative product offerings are set against the backdrop of a recovering cryptocurrency market. The platform is poised to offer institutional investors a robust venue for trading major tokens like Bitcoin, Ether, and Litecoin, without the typical custodial concerns.

OKX Announces Listing of Aevo for Spot Trading, Expanding Derivatives Offerings

OKX, a leading global cryptocurrency exchange, has officially announced the listing of Aevo (AEVO), a novel derivatives Layer 2 platform, on its spot trading market.

OKX disclosed that Aevo, which specializes in options and perpetuals trading, will be available for spot transactions on their platform. This strategic addition aligns with OKX’s mission to diversify its trading offerings and cater to the growing demand for derivative trading options within the crypto community.

Aevo’s Integration into OKX’s Ecosystem: Schedule and Details

The integration of Aevo into the OKX ecosystem follows a clear schedule, ensuring traders can plan their strategies accordingly:

AEVO deposits will commence at 10:00 am UTC on March 12, 2024.

AEVO/USDT spot trading pairs will be open at 10:00 am UTC on March 13, 2024.

AEVO withdrawals will become available at 10:00 am UTC on March 14, 2024.

Aevo’s platform is designed to enhance the trading experience by focusing on derivatives, specifically options and perpetual contracts. With a maximum supply of 1 billion AEVO tokens, Aevo aims to provide a robust framework for traders engaged in speculative activities on price movements.

Asset Details and Risk Warning

The asset’s details are as follows:

Asset name: Aevo

Ticker: AEVO

Max supply: 1,000,000,000

Contract address: 0xB528edBef013aff855ac3c50b381f253aF13b997

OKX has issued a risk warning alongside the listing announcement, reminding users that digital assets are speculative, subject to volatility, and can become illiquid at any time. Traders are advised to conduct thorough research and evaluate their risk appetite before engaging in digital asset trading.

OKX’s Commitment to User Education and Support

In line with its commitment to user support and education, OKX encourages prospective traders to reach out through their support center or engage with the community on platforms like Discord and Telegram for any inquiries.

Next Steps for Traders

With the addition of Aevo to its trading platform, OKX continues to position itself as a versatile exchange catering to the diverse needs of the crypto trading community. Traders interested in AEVO are advised to stay informed on the latest developments by following OKX on various social media channels and subscribing to their updates.

OKX Announces Spot Trading for Ether.fi's ETHFI Token Amidst Growing DeFi Interest

OKX, a leading cryptocurrency exchange, has officially announced the inclusion of Ether.fi (ETHFI) in its spot trading market. This move marks a significant step for both OKX and the decentralized finance (DeFi) ecosystem, reflecting the growing interest and adoption of innovative financial protocols.

The ETHFI token is now available for deposits on OKX as of 06:00 am UTC on March 15, 2024, with spot trading against USDT starting at 12:10 pm UTC on March 18, 2024. Withdrawals for ETHFI will commence at 10:00 am UTC on March 19, 2024. These developments provide investors with new opportunities to engage in the burgeoning DeFi space.

Ether.Fi introduces a novel staking protocol for Ethereum, leveraging Eigenlayer’s infrastructure to re-stake ETH deposits. This process enhances yield for stakers by using staked ETH to bolster external systems such as rollups and oracles with added economic security. Participants gain eETH, a liquid staking token, facilitating their interaction with various DeFi protocols. ETHFI serves as the governance token, giving holders a say in the protocol’s future.

With a maximum supply cap of 1,000,000,000 tokens and a smart contract address of 0xFe0c30065B384F05761f15d0CC899D4F9F9Cc0eB, ETHFI is positioned to become a pivotal player in the DeFi landscape. OKX’s decision to list ETHFI underscores the exchange’s commitment to diversifying its offerings and supporting innovative financial solutions.

As with any investment, OKX issues a risk warning, advising users to conduct thorough research and understand their risk tolerance before trading digital assets. The volatile nature of cryptocurrencies means that investors could potentially lose their entire investment. Thus, OKX cautions traders to make informed decisions and reminds them that the provided information does not constitute financial advice.

For those seeking assistance or more information, OKX encourages users to reach out through their support center or connect on platforms such as Discord, Telegram, and X (formerly Twitter). The exchange remains dedicated to fostering a robust community and providing top-tier services to its global user base.

This listing is not only a milestone for OKX and Ether.Fi but also serves as a testament to the steady growth of DeFi. As traditional financial systems continue to intersect with blockchain technology, platforms like OKX are pivotal in facilitating the transition and providing users with access to innovative financial instruments.

In conclusion, the listing of ETHFI by OKX is a clear indicator of the crypto exchange’s strategic positioning within the DeFi sector. As the landscape evolves, OKX remains at the forefront, offering users a diverse range of trading options and supporting the growth of decentralized financial ecosystems.

OKX Announces Listing of BlockGames (BLOCK) for Spot Trading

OKX, one of the prominent cryptocurrency exchanges, has made an exciting announcement regarding the listing of BlockGames (BLOCK) on its spot trading market. This development opens up new opportunities for traders and investors looking to engage with the BLOCK cryptocurrency.

According to OKX, the listing schedule for BLOCK is as follows: BLOCK deposits will be available starting from 10:00 am UTC on April 9, 2024. Subsequently, the BLOCK/USDT spot trading will commence at 12:00 pm UTC on April 11, 2024. Lastly, users will be able to make BLOCK withdrawals starting from 10:00 am UTC on April 12, 2024.

BlockGames, the asset being listed, is a decentralized player network that serves as a cross-chain Universal Player Profiles platform. It empowers the next generation of mobile game publishing tools by allowing them to interact with player data and offer rewards in return.

Key information about BLOCK includes its asset name, BlockGames, its ticker symbol, BLOCK, and its total supply of 1,000,000,000. The contract address for BLOCK is 0x8fc17671D853341D9e8B001F5Fc3C892d09CB53A.

It is important to note that digital assets, including BLOCK, are subject to high volatility and carry speculative risks. Therefore, OKX advises users to conduct thorough research and evaluate their risk appetite before engaging in any digital asset trading.

For further inquiries or more information, users can reach out to the OKX support center or connect with OKX on various platforms. As OKX continues to expand its offerings, it aims to provide a secure and user-friendly trading environment for cryptocurrency enthusiasts.