Monthly Digest: February 2021
This year’s perfectly rectangular February packed a wild ride both inside and outside the world of crypto. The Gamestop fiasco has made its way to congress, and world governments are racing to provide vaccines to innoculate their citizens as the pandemic enters its 2nd year.
Markets started on a decline towards the end of the month but were buoyed by news that the Federal Reserve would continue keeping interest rates at historic lows.
In crypto news, Elon Musk has put his weight behind Dogecoin, pushing the memecoin’s price above $1, and posting an image of Doge on the “Literal” moon.
Bitcoin surpassed a market cap of $1 Trillion this month, and several more institutional investors added their names to the list of companies that have made major Bitcoin investments.
Bitcoin.com Exchange celebrated Lunar New Year by launching several new margin trading pairs and rounded out the month with several new listings. Here’s what happened this month on Bitcoin.com Exchange:
From February 1st through the 28th, we encouraged all Bitcoin.com Exchange traders to spread the crypto gospel and invite their friends to the exchange. After a friend signed up with the referral link, referees earned up to a 50% bonus of all trading fees from their referrals. Thanks to everyone who participated in this campaign!
New Listing: Firo
On February 2nd, Bitcoin.com Exchange opened trading for Firo. Remember Z-coin? To avoid confusion with other privacy coins also featuring the letter Z at the beginning of their name, the team at Z-coin decided to rebrand the blockchain as Firo. Firo is available for trading against the BTC and USDT pairs.
Lunar New Year Promo
In the middle of February, Bitcoin.com Exchange celebrated the Lunar New Year with a 50% discount on all BCH pairs for the duration of the celebration. Will the Year of the Ox usher in an era of bull runs? We can only hope so.
Free TON Deposit & Trading Comp & AMA
Bitcoin.com Exchange welcomed Free TON to the platform this month by hosting a deposit and trading competition in which the top 20 traders with the highest volume split a prize pool worth $7,000. On top of that, $3,000 TON was dispersed to traders through the deposit promotion.
During the promotion, Free TON developer Alexander Filatov joined the Telegram channel to host an AMA in which community members asked poignant questions about TON’s differentiating points from other protocols and whether Tweets were really affecting markets so drastically. You can find a summary of the AMA here.
During February, we launched several new pairs for margin trading such as XLM/ETH or ADA/ETH which can now be traded with up to 3x leverage. You can find all the pairs available for margin trading under our Margin section at exchange.bitcoin.com
When trading cryptocurrencies, looking at the price chart is just one part of analyzing how a certain cryptocurrency will do. We’ve experienced it often enough to know that things such as positive or negative news as well as social media trends can have a huge impact on crypto markets. With that in mind, we launched the new Analytics Dashboard where you can keep an eye on all the important movements going on from news to social media, with crypto statistics and price movements as well.
Thank you for an awesome month on Bitcoin.com Exchange. We’re looking forward to a great March to usher in the Spring!