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BTCNEXT Exchange Weekly Update #5

We are finishing some adjustments to the BTCNEXT Exchange, following its transition to the updated core. Everything works smoothly but we want the user experience to be superb!

This week is marked with a few important events. We have:

  • listed a new PDATA token
  • added instructions on our global updates
  • burned 40 million BNX tokens!

Take a deep breath and delve into our updates!

The world economy remains chilled

Global stock markets are trading hesitantly today amid the ongoing Coronavirus pandemic. The number of COVID-19 infected people in the world exceeds 1 million. There has been an active growth in key indices over the past week but enthusiasm subsided after a few days. Even the introduction of stimulus packages by governments has not helped. Indices continue a slow but steady decline.

Trump’s statements have had a positive effect on the price of oil, which rose by 25–30% in just one day. However, the American president added a little salt, saying that regardless of the agreement to reduce oil production between Russia and Saudi Arabia, the United States would not reduce its volumes. A negative reaction can be expected but it is unlikely that the Brent oil barrel price will drop below $25.

S&P 500 technical indicators and other key indices look bad, which, coupled with rising unemployment and a worsening crisis fed by Coronavirus, speaks towards a further collapse.

Crypto market

This week went by calmly, the market showed moderate growth of about 3–5%. Bitcoin tested $7,000 but failed to gain a foothold above this mark. Now the main cryptocurrency is approaching this mark and is trading in the range of $6,700–6,900. Altcoins correlate with BTC.

XMR has taken the lead and risen in price by 8%. The loser again was XEM, which lost 5% of its price. BNX, QDAO and NOAHP coins are again demonstrating enviable stability and are confidently holding their ground, sometimes showing an increase of 1–3%.

The BTC can be expected to gain a foothold above $7,000 in the near future and pull the whole market up if there are no shocks in the classic markets.

BTCNEXT Exchange updates

We have moved to the updated core and continue with our work. This week, we have:

  1. Listed the PDATA token. PDATA is a token of Opiria, a global decentralized marketplace powered by blockchain that helps companies with collecting and analyzing consumer data. Consumers are in full control of their data and it is fully protected. Moreover, they are paid by companies with PDATA tokens for sharing their anonymized data.
  2. Created instructions covering all the details of the new core including all its features, to support more successful trading on the BTCNEXT Exchange. Follow this link to learn more.
  3. Promised to burn BNX tokens every quarter. On April 1st, we burned 40 million BNX tokens. The details are here. The maximum supply at the moment is approx. 360 million BNX. Our aim is 250 million BNX in total.
  4. Launched new trading bots for pairs with XMR and DASH.

Daily volumes statistics on the BTCNEXT Exchange:

  • BTC — $1.8m.
  • ETH — $1.4m.
  • BNX — $3,000
  • NOAHP — $8,000
  • QDAO — $5,000

To learn more about BTCNEXT, visit our official website.

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