The Newsletter by Tokenize Xchange (Vol.120| January 2021)
New coins to support Crypto Earn
The more the merrier. The new-comers are here!
New coins AAVE, SNX, DOT, SUSHI are now available in our Crypto Earn feature.
Users are now able to deposit these coins and earn APR (Annual Percentage Rate) as following:
- 4% for non-TKX staked users.
- 7% for TKX-staked users.
To get the advantageous APR, users must deposit the discounted amount of 2,000 TKX (used to be 2,500 TKX). Click here to learn more.
Need to know more about Crypto Earn?
Join Crypto Earn to get a passive income with crypto. Our Crypto Earn acts as a digital wallet that allows you to keep your crypto safe while still earning the ARP up to 10%.
Follow these simple rules to subscribe to the Crypto Earn program.
1. Deposit your cryptocurrency to our Crypto Earn wallet.
2. You are able to take out the deposit you have input on the 2nd day of every month, provided that the crypto has been locked up for a minimum timeframe of 30 days. If the lock-up time doesn’t last for 30 days, you will need to withdraw on the 2nd day of the following month.
3. Enjoy your interest of up to 10%.
Join us now to enjoy the benefits while spending half with our New Year Promotion:
- The amount of staking is reduced from 2,500TKX to 2,000 TKX
- The APR is as high as 10%
Check out the picture below for more details:
Learn more about how a Tokenize Crypto Earn account works and what Tokenize does with account assets here.
Flexi on Crypto Earn
Crypto Earn withdrawal is now much more convenient with our new feature “FLEXI”- you can stake or withdraw anytime provided you are Premium / Platinum users or deposits with 2,000 TKX staking.
Another new feature on Tokenize Xchange is compound — you can choose to automatically add interest to the initial deposit upon on interest payment date. If you do not turn on compound, the interest will be credited to your Wallet as previously.
** Note :
- In Compound feature, for ordinary members that have already participated in Crypto Earn program, please wait for the next coming one month maturity for withdrawal then withdraw all and deposit for stake again and select the compound interest button.
- For Flexi feature, if users who have already upgraded to premium and platinum or deposited with 2,000 TKX staking, can see Flexi effect implemented.
ETH sets new All-Time Price High near $1,440
The price of ether (ETH), the native cryptocurrency of the Ethereum blockchain network, soared to record levels earlier on Tuesday.
Prices hit $1,439.33 around 12:00 UTC — that’s a little over the previous all-time high of $1,432.88 registered on CoinDesk’s price index on Jan. 13, 2018. The digital asset rallied nearly 12% Tuesday to reach the new peak.
Ether (ETH, +1.3%) first hinted at a coming rally to previously unseen levels earlier this month, but fell victim to a brief market correction triggered by bitcoin (BTC, -4.12%)‘s pullback from $40,000 to $30,000 last week.
Grayscale added $599,000,000 worth of BTC in the last 24 hours.
Grayscale, the world’s largest cryptocurrency asset management firm, has accumulated 16,244 Bitcoin worth more than $600 million in the last 24 hours due to growing institutional demand. The company now has more than 630,000 BTC worth nearly $23 billion.
According to the data provided by the crypto analytics company Bybt.com, Grayscale’s total crypto assets under management (AUM) jumped above $27 billion on Tuesday as the price of Bitcoin crossed $37,000. The total market cap of cryptocurrencies reached $1.06 trillion.
The company has accumulated nearly 26,000 Bitcoin in the last 7 days. In addition to the BTC, Grayscale has purchased a substantial amount of Bitcoin Cash. According to the released numbers, the crypto asset manager bought more than 12,000 Bitcoin Cash during the last 7 days.
Grayscale halted new investments last month but welcomed investors at the start of January 2021 amid growing institutional demand. In the newly released Q4 report, the firm outlined the importance of institutional money.
The price of bitcoin stayed in a fairly tight range
At around 15:00 UTC (11 a.m. ET) on Tueday, the price spiked to as high as $37,876 before dropping and was at $35,285 as of press time.
“Looks like while bitcoin is being squeezed between a tightening $34,000-$38,000 range in the past week, the market is going more leveraged long,” noted Cindy Leow, portfolio manager for multi-strategy trading firm 256 Capital partners.
According to data aggregator Skew, leveraged funding on major venues remains high. Kraken in particular has shown a high degree of volatility in funding rates, but as of Tuesday is offering the most for crypto holders to provide liquidity to leverage up long, at 0.0471%.
“We see this as short-term bearish, indicating too many market participants are eager for an upside breakout,” Leow added. “Adding on to that, sellers seem exhausted, and the market is very short on dollars with frothy USD/stablecoin lending rates.”
Chainlink hits record high
Decentralized oracle network Chainlink’s LINK token and other prominent alternative cryptocurrencies (dubbed alt-coins) are charting solid gains as the crypto market leader bitcoin takes a bull breather.
On Jan 18, LINK set a new record price of $23.68 overnight and is changing hands near $20.36 at press time. The previous lifetime high of $19.90 was reached in August, according to CoinDesk 20 data.
The cryptocurrency has nearly doubled in the first two weeks of the year in a strong follow-through to last year’s 530% rise. Chainlink’s oracles act as a bridge between cryptocurrency smart contracts and off-chain data feeds.
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