The Newsletter by Tokenize Xchange (Vol.119| January 2021)

Hillary

Published in

Tokenize Xchange

7 min readJan 13, 2021

Tokenize Xchange’s Roundup of Stories for 2020

It’s been a landmark year in which the cryptocurrency rose more than 300%, with an almost 50% gain in December alone. What momentous events took place in 2020, a tumultuous year with major economic disruptions and historic volatility?

This article covers all highlights in the crypto world in 2020, organized in chronological order. The ups and downs will not only help us reminisce about such a memorable year for crypto, but also offer us a glimpse of what’s to come in 2021.

Read full article here.

9 Crypto Predictions for 2021: What’s next?

In 2017, when Bitcoin broke $20,000, there wasn’t much time to celebrate. The value of the world’s biggest cryptocurrency quickly fell through the floor — and by December 2018, it was languishing around the $4,000 mark.

With BTC ending the year close to $30,000, there seems to be a lot of optimism that such a dramatic decline isn’t going to happen again. With institutional investors piling into crypto like never before, this bull run feels a lot different.

We are no psychic, but basing on historical data from 2020, it's safe to say these predictions are anything but abstract.

Read full article here.

New Year Promotion

To celebrate 2021, Tokenize Xchange will reduce the number of TKX staking tokens needed to enhance your Crypto Earn interest which is from 2500TKX to 2000TKX. On top of that, staking your coins with TKX will increase additional interest compare to last year.

Start earning rewards for holding our coins and tokens with this booster!

How to participate Crypto Earn and stake TKX?

Tokenize Crypto Earn allows you to safely deposit your cryptocurrencies with us to earn monthly interests in your crypto.

Here is a step-by-step guide on how to participate crypto earn and stake TKX on Tokenize Xchange.

Step 1: Go to our website. Select EARN on your dashboard then select Crypto Earn

Step 2: Click on “ Crypto earn today “

You can invite a friend to Tokenize and earn 10% of your friend’s interest.

Step 3 : The dashboard will show our supported coins for crypto earn.

In each coin will show estimated ARP and Minium amount. Turn on “ 2500 TKX Staked “ button, you can enjoy more benefits and interest.

For example : If you want to deposit BTC, click on “Deposit” then the dashboard will show as below :

Available balance : Your BTC available balance in your account.

Deposit amount : Key in the amount of BTC to deposit.

Turn on “with 2500 TKX staking” if you want to enjoy 6% interest.

Step 4 : Review and confirm.

After keying amount to deposit, click on “Deposit” then the dashboard will show as below :

Click “Confirm”. After confirming the deposit, you will see a green notification at the top of the page indicating that you have successfully deposited your assets to Tokenize.

A confirmation will be sent to your email :

Enjoy 0 withdrawal fee

Users that have at least 5,000 TKX holdings will have the chance to enjoy 0 withdrawal fee on Tokenize Xchange.

New listings

Aave (AAVE), Sushi (SUSHI), Polkadot (DOT), Tezos (XTZ), Maker (MKR) are now available on Tokenize Xchange in SGD/USD pairing.

Crypto Market Cap drops below $1T as dollar gains

Bitcoin shaved off a clean 20% in trading early Monday, having failed to establish itself above $40,000. The index of all the crypto assets came down with it, with analysts calling the decline a healthy correction for an overheated market.

Bitcoin back above $36K

Following the highly positive first ten days of the new year, BTC headed for its worst 24-hour correction since the mid-March 2020 liquidity crisis.

The primary cryptocurrency sat near its all-time high of $42,000 before the bears pushed it down. Ultimately, bitcoin lost almost $12,000 of value during Monday’s trading session and bottomed at just above $30,000.

Nevertheless, the bulls intercepted the move at this point and didn’t allow any further declines. Just the opposite, BTC started regaining value in the following hours.

On Tuesday, the cryptocurrency recovered about half of the lost value and sits above $36,500. As of writing these lines, the price is hovering around $34,000.

From a technical perspective, BTC has to overcome the next resistance lines at $37,150, $38,000, and $39,000 to resume its bull run. Alternatively, the support levels at $34,000, $32,500, $30,700, and $30,000 could assist in case of a price breakdown.

Ethereum whale addresses with over 10,000. ETH continue to grow in numbers, price jolds above $1,000

Just as the cryptocurrency market correction eroded more than $150 billion in a single day on Monday, January 8, ethereum too corrected more than 15%. However, after approaching closer to its all-time high of $1,400 earlier on Sunday, ETH has still managed to hold above major support of $1,000. At press time, ETH is trading at $1,045 with a market cap of $120 billion.

Interestingly, the recent price correction has given a chance for whales to accumulate further. The total number of ethereum addresses holding more than 10,000-plus ETH coins has surged by nearly 5% in the last two weeks as per on-chain data provider Santiment.

Another data shows that despite the recent correction, the bulls with ETH long positions are still overwhelming the shorts. The contract funding rates on the BitMex crypto exchange are still over-leveraged towards the longs.

The on-chain data provider further notes that the “BTC and ETH indicate that longs are still paying shorts by a wide margin. When short investments begin to catch up, or longs die down, this will be the market fear that the savvy bulls are waiting for”.

PayPal hosts $242M in crypto trading over 24 hours

Global payments provider PayPal has doubled its previous crypto volume record, with $242 million worth of digital assets changing hands on the platform during January 11.

According to crypto market data aggregator Nomics, yesterday’s trading dwarfed PayPal’s previous volume record of $129 million recorded on Jan. 6. Since Jan. 1, daily volume has increased by 950% from $22.8.

With the spike in PayPal’s volume coming amid Bitcoin’s rally into new all-time highs, the U.S.-based payments firm appears to be gathering popularity among retail traders. Nuggets News’ Alex Saunders asserted the spike in PayPal’s volume is a likely sign of increasing adoption among retail traders, tweeting: “retail has arrived.”

Despite many within the crypto community praising PayPal’s entrance into crypto for driving new users toward digital assets, others have criticized PayPal for creating a “gated” crypto community that does not support withdrawal functionality .

The discussions regarding whether PayPal’s volume milestone is bullish or bearish come shortly after Nexo CEO Antoni Trenchev speculated Bitcoin’s recent crash from levels exceeding $40,000 was driven by retail investors rushing to realize profits.

PayPal’s crypto services are accessed via Paxos’ ItBit exchange. PayPal selected ItBit handle its crypto transactions upon launching digital asset trading services during October 2020.

PayPal is expected to offer cryptocurrency services to its 26 million merchants in the coming months, likely driving further demand for the company’s crypto services.