BTCNEXT Announcements

    Exchange Update #20

    The BTCNEXT team works non-stop to provide its users with the best conditions and trading opportunities. In the last two weeks, we listed new stablecoins and connected new trading pairs. Check out all updates below.

    Financial markets

    Gold lost almost 1.2% in price over the week. Trading ended at the support level of $1,880 per ounce. It emerged last week that there would be no agreement to stimulate the US economy before the presidential election, so investors began to massively withdraw capital from the market, preferring to keep their dollars.

    The decline in price for WTI oil for the week amounted to $4 (or 11.2%). The quotes suffered especially hard on Wednesday and Thursday when the dollar was strengthening across the entire spectrum of the foreign exchange market. As a result, trading ended at the support level of $35.72 per barrel.

    Key indices dropped significantly in price. The S&P500 fell by $200 and is now trading in the $3,300 region, while the Dow Jones lost 2,500 points and is now worth about $26,300.

    Crypto market

    The crypto market capitalization didn’t change over the past 7 days. Some cryptocurrencies on the BTCNEXT Exchange rose, some dipped. BTC grew the most: +3.5% per week. NEO dropped more than the others, losing 14% of its value. The BNX and NOAHP prices haven’t changed. QDAO dropped 10%.

    The last two weeks were amazing for Bitcoin but not for the crypto market overall. BTC managed to reach its all-time-high of 2020 - $14,000. But altcoins are not too bullish, as many of them dropped in value. 90% of the top-50 altcoins dropped on average by 10%. We can expect BTC’s fuel to soon come to an end and that’s when we will see the long-awaited correction.

    BTCNEXT Exchange update

    BTCNEXT Exchange development is continuing at a stable pace. Here are the most important updates from the last 2 weeks. We have:

    • Listed the JPYQ and CNYQ stablecoins. These are two new stablecoins issued for the Japanese and Chinese members of the QDAO Project community. USDQ/JPYQ and USDQ/CNYQ pairs are now available for trading!
    • Relaunched the NOAHP/ETH pair. We had a large number of inquiries for this pair and decided to relaunch it once again.
    • Acquired a BNX/ETH liquidity pool on SpaceSwap. Now our users can pour some liquidity into SpaceSwap via Uniswap v2 using BNX!

    Daily volumes and statistics on the BTCNEXT Exchange:

    • BTC - $8.8m
    • ETH - $11.2m
    • BNX - $230,000
    • NOAHP - $5,100
    • QDAO - $75,000
    • The total average daily volume on the exchange is $48m.

    We hope you are just as excited about these updates as we are. Come back in two weeks for a new portion of news!