CBX Weekly Newsletter // 10 July 2019
- Bitcoin Dominance Hits 2-year High
- CBX speaks at Asia Blockchain Summit in Taiwan
- Gojoy Global Launch on CBX with JOY and JUSD
Bitcoin Dominance Hits 2-year High
Bitcoin (BTC) which is by far the largest cryptocurrency by market capitalization, has recovered in price since the last drop around $9.6K last week to almost $13K on major exchanges including CBX, but not only that, it’s now dominating over 63% of the market in relation to other digital assets according to data from coinmarketcap.com.
For the last months whenever Bitcoin was making a move, alt-coins which is the name given to any cryptocurrency which is not BTC were following the Bitcoin’s trend usually in higher percentages. This correlation is starting to fade as we have seen BTC’s price spiking and then the rest of the market being stagnant or not reacting with the same strength.
This means that investors are putting money into the market specifically into Bitcoin but they are not buying any other token, many investors and traders are waiting for alt-coins such as Litecoin (LTC) or Ethereum (ETH) to outperform Bitcoin’s benchmark, however, for now, the spotlight it’s still on Satoshi Nakamoto’s digital gold.
CBX speaks at Asia Blockchain Summit in Taiwan
Last week 2–3 of July, CBX team members flew from London, Dubai, and Shangai to attend the Asia Blockchain Summit 2019 in Taipei, Taiwan.
CBX’s Managing Director Vanessa Cao was asked to speak about Exchanges, Banks, and Their Relationship with Currency Fluidity in the Blockchain space. She was joined by a panel of experts including Marie Tatibouet from Gate.io, Mike Kayamori from QUOINE, Kevin Cha from Coinone, Phillip Gillespie from B2C2 Japan, and lastly Mike Dudas, CEO, and Founder of The Block.
“One of the main factors that traders and holders of cryptocurrencies look for when selecting exchanges is the liquidity of its cryptocurrency markets, they often look at trading volumes, the depth of the books, and the bid-ask spreads, of course in addition to the safety and backing of the exchanges among many other factors”. Said Vanessa during the event, she also added. “For institutional and active traders, they generally look for exchanges that are capable of fulfilling their large orders while making the lowest impact on market price.”
Many other famous names in the Blockchain space were seen in the conference such as CZ, the CEO of Binance, he gave a speech where he talked about Binance Coin (BNB), the early stages of the Exchange and what’s coming in the future, he mentioned the company will introduce Bitcoin Futures in the next weeks.
Andrew Hynes, Bitmex’s CEO also gave a speech where he stated that trading Bitcoin is more fun when you have x100 leverage, “we are in the entertainment business” he added. Justin Sun, Founder of Tron (TRX) was also at the event presenting the latest developments of the network and also talking about their collaboration with BitTorrent (BTT).
You might think that a Blockchain and Cryptocurrency event will attract supporters and fans of the industry. However, not all of the attendees were crypto supporters, in fact, speaking at the main stage was Nouriel Roubini, an economics professor at New York University’s Stern School of Business, he said things like “Bitcoin is a Ponzi scheme” and “Blockchain is nothing more than a glorified spreadsheet”. Of course, most of the audience laughed and at the same time, it was good to hear a different point of view compared to any other presentation that day.
CBX’s Director for Dubai, Mohammad Al-Hammadi was also interviewed during the conference by different news providers, he spoke about the developments that CBX is doing alongside the UAE government especially The Dubai Blockchain Strategy that will help Dubai achieve the vision of H.H. Sheikh Mohammed bin Rashid Al Maktoum by making Dubai “The first city fully powered by Blockchain by 2020” and make Dubai the happiest city on earth. The strategy will be using 3 strategic pillars Government Efficiency, Industry Creation, and International Leadership.
GoJoy Global Launch on CBX with JOY and JUSD
We are delighted to announce the listing of Gojoy (JOY & JUSD) on CBX!
The details are as follows; we welcome you to trade!
Deposit & withdrawal will be available on July 6th
48 hours blind auction will be available on July 7th at 19:07 (UTC+8)
Trading begins will be available on July 10th 19:07 (UTC+8)
Trading pairs:
JOY/USDT
JOY/BTC
JOY/ETH
JOY/JUSD
JUSD/ETH
JUSD/USDT
Token Info:
Gojoy official website: https://gojoy.com/
Features: auction cryptocurrency based on e-commerce platform
The platform was started in China, Gojoy helps 60% of low- and middle-income families to buy products at 30–50% cheaper than Amazon & Alibaba and incentivizes their purchase by sharing 50% of the platform’s global profit through hourly cash rewards. As of July 2, 2019, the total number of Gojoy users was 210,000, and the total platform sales were $14 million. Gojoy follows 100% transparency and fairness and is the world’s first e-commerce platform to issue cryptocurrencies.
Its public chain is a third generation blockchain platform, founded by an international elite team. The core management team comes from many countries around the world, including 20 years of Silicon Valley entrepreneurship and investment experience.
Key Innovations：
The structure is to host 66 auctions, starting July 7, every month selling 3M Joy coins per auction using a Dutch auction.
With zero investment in advertising, the Gojoy community is 210,000 strong in just five months of testing its MVP. Gojoy has distributed more than $2.7 million dollars to the community and generated +$14 million in revenue.
With zero investment in advertising, Gojoy has achieved exponential growth, tripling users in the past months. As it continues to scale, the Swiss-based company is on track to disrupt the e-commerce sector.
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