April 2021 Digest
What we’ve been up to in April
April has been another exciting month full of movements in the crypto markets and the traditional markets, as companies reported their earnings. Inflation has now surpassed 2%, which might make investing in digital assets even more attractive for retail, as even gold (the often touted haven asset) has been very volatile in the last few weeks.
After hitting a new all-time high in March, Bitcoin experienced a significant drop in the latter half of April, leading to $10 Billion in options being liquidated. The cryptocurrency has since recovered and is nearing the $60k mark again, while ETH has rallied this last week of April.
On the Bitcoin.com Exchange, we’ve been working hard to bring new assets to the exchange and hosted several AMAs and trading competitions. Here a summary of our April activities.
After listing Chiliz, we added the fan tokens of three popular European football clubs to our exchange platform this month. The tokens enabling fans to vote in decisions or access exclusive merchandise by Juventus, Paris-Saint-Germain, and AC Milan can be bought, sold, and traded with USDT on our exchange.
XEM by NEM
NEM has been around since the earlier days of cryptocurrency. The NEM platform aims to resolve the problems of proof of work by introducing Proof of Importance as a consensus mechanism. Instead of rewarding miners with the highest computation power, NEM considers how users contribute to the network. The native currency XEM is live with BTC and USDT pairs.
MKR by Maker
Unlike stablecoins like USDT or USDC, the DAI stablecoin issued by Maker DAO relies on loans and the governance token MKR to keep a stable value hovering around $1. You can learn more about the workings of one of the biggest DeFi lending platforms here.
For DeFi lending platforms to become more attractive for users outside of trading, they’ll need to access high-quality data from the off-chain world. Bird.Money is an off-chain data analytics provider bringing together your transaction history offline with your DeFi activities to enable transparency and eventually under-collateralized loans. BIRD is trading with USDT and BTC pairs.
Basic Attention Token
The Basic Attention Token (BAT)is the native currency of the Brave Browser. Brave is an easy-to-use browser using Blockchain technology to store user data in a trustless and transparent manner — without any invasive tracking, as is common practice in browsers like Google Chrome. BAT’s value is inherently tied to the growth of the Brave ecosystem, which continues expanding, hitting 25 million monthly active users in February this year.
While Bitcoin often captures the attention of the non-crypto investors, Binance Coin has outperformed the top 1 market cap currency this year. While still trading under $30 beginning of this year, its price has increased to over $500, making it the cryptocurrency with the third-largest marketcap. This also reflects the tremendous amount of activity at the Binance Smart Chain DeFi ecosystem these days, with new tokens launching nearly hourly.
Climate Change is one of the biggest challenges we’re facing this century. While most attention goes to reducing emissions and creating cleaner production facilities, not so much has improved energy efficiency. This is where Efforce comes in. The blockchain-powered platform enables companies to fundraise and execute their energy efficiency improvement projects by connecting them with the right provider. The WOZX token driving the ecosystem represents energy savings achieved thanks to such improvement projects. WOZX is trading with BTC and USDT.
Cardano is the only peer-to-peer reviewed blockchain and has built an immense community over the last few years. However, so far, the platform is still missing smart contracts, making it unsuitable for dApps. In August this year, that’s set to change and Occam.Fi will enable projects to raise money to make their Cardano Defi ideas come true. Occam.Fi is the first launchpad for the Cardano ecosystem. The native token OCC is now trading with USDT and BTC.
When Bitcoin hodlers want to use DeFi platforms, they usually don’t get around exposing themselves to Ether (or BNB if they want to get started on BSC). Ramp Defi has recognized the immense potential from getting Bitcoin investors into DeFi and created a platform allowing them to keep their Bitcoin while still benefitting from DeFi interest rates and yield farming. The RAMP token governing the platform is trading with USDT and BTC.
With the recent hype around NFTs, artists have been looking for platforms to mint and sell their digital art. Rarible is one of the bigger marketplaces for digital art. The Rarible team still manages the marketplace, but in the future, it wants to evolve into a completely decentralized autonomous organization that its users solely govern using the RARI token. RARI is live with BTC and USDT pairs.
One of the most promising use cases for blockchain in the enterprise sector is the supply chain. LINA Network has been working together with businesses and trade organizations to enable them to create more efficient processes and transparency in their supply chains. LINA, the native currency of the platform, can be traded against BTC and USDT pairs.
Crypto derivatives have become a popular tool for traders to increase their potential rewards, but at the same time also increase the risk. It’s quite common that major liquidations trigger a decrease in prices across the market — which isn’t quite desirable. FTX, a leading crypto derivatives exchange, has made its mission to make crypto derivatives trading better. Traders can use the exchange token FTT for collateral and access to rebates. FTT is trading with BTC and USDT.
Curate Trading Competition
We finished our $17,000 Curate Trading competition in early April.
Thanks to all the participants and congratulations to the winners. Curate is an exciting peer-to-peer marketplace, growing at impressive speed.
You can learn more about Curate and the XCUR token here.
Pastel Deposit Promo & Trading Competition
If you’ve ever minted an NFT on Ethereum, you’re probably aware of the high gas fees to do so. Pastel has created an NFT platform which addresses the high fees and enables artists to easily create their NFT. In April we ran a trading competition with a $7000 PSL trading pool.
IQQ Trading Competition
IQONIQ has built a platform to connect fans with their favourite organizations from sports to entertainment. The IQQ token gives fans access to exclusive merchandise, tickets and more. During our $7000 IQQ trading competition, traders could win $IQQ from the prize pool.
OCC Trading Competition
After listing OCC by Occam.Fi we kicked off a trading competition on our OCC/USDT pair.
The trading competition has just ended, and we will soon be allocating prizes.
Thanks to all the traders that participated in our trading competitions. If we haven’t already, we will soon allocate prizes to you. Congratulations to all the winners and we’re looking forward to the next competitions.
During April we also hosted various AMAs with teams behind fascinating blockchain and crypto projects including Bird Money, Occam.Fi and more. You can find a summary of all our AMAs in our Bitcoin.com Exchange Medium Publication under the AMA tab.
We’re looking forward to the next month!