The Newsletter by Tokenize Xchange (Vol.123| February 2021)
The Luckiest Zodiac Signs of 2021: What’s Your Lucky Token?
Year of the Ox 2021 is approaching this February. It’s that time to learn about your fortune horoscope this upcoming year and come up with a wise investment plan. Happy new year, folks!
Learn about 12 Zodiacs’ financial fortune for the year of the Ox and their lucky tokens HERE!
New Fiat-to-Crypto Pairings Are Up!
Tokenize Xchange team are happy to announce the official release of the latest 10 cryptocurrency and fiat currency trade pairs on our platform.
Over here at Tokenize, our legal and compliance team does their due diligence of researching and analyzing every token that are listed on our exchange to ensure that the tokens listed are in line with the regulations of the SFA(Securities and Futures Act) and do not breach any securities laws.
Check out other available pairings HERE.
Kenanga Dips Its Toe in Crypto With Tokenize Xchange Stake Acquisition
Kenanga Investment Bank Berhad (KIB) via its wholly-owned private equity arm, Kenanga Private Equity Sdn Bhd, has entered into a conditional agreement to acquire 19% equity interest in Tokenize Technology (M) Sdn Bhd.
KIB said that it has been “building a digital ecosystem to offer our customers a wide spectrum of financial products and services, including digital assets” and is “pleased to be given the opportunity to invest in one of the three licensed digital asset exchanges in Malaysia”.
This investment in Tokenize Malaysia adds to the line-up of digital initiatives KIB has embarked on over recent years.
Congratulations to Tokenize Malaysia for setting such an important milestone! There is still so much potential in Malaysian cryptocurrency industry and this achievement is a great contribution to its growth.
Our Dollar — Cost Averaging Feature
What is DCA?
DCA stands for Dollar — Cost Averaging, an investment strategy in which the total amount to be invested across periodic purchases of a target asset. The goal of DCA is to reduce the overall impact of volatility on the price of the target asset.
How does it work on Tokenize Exchange?
DCA feature allows you to automatically make purchases periodically (daily, weekly, monthly).
For example, you choose monthly option. Next, you will be able to choose which day of the month you want to buy. For instance, 1st day every month. Then, you’ll choose time, eg, 6 pm.
Then, at 6:00 PM 1st monthly, it will auto buy at whatever price (Auto place makes order).
For weekly option, it will process the same way, you must choose date and time. Then on exact time & date, it will execute the order.
Here is steps by steps to use DCA on Tokenize Xchange :
Step 1 : Go to the website then choose the market that you want to trade.
For example : If you want to trade BTC- USDT, click on BTC market
Step 2 : Click on “ Try our DCA “
If you want to buy USDT, click on “ try our DCA “.
Step 3 : Input investment amount, ask currency, repeat purchase ( Daily, Weekly, Monthly ), accumulate for and choose the date . After that, click on “ Start now “.
Step 4 : Confirm your DCA
A green notification will show when you complete the DCA
Commission for this feature is 1% applied to all membership!
Note: Time only specific only on hours.
DOGE Hits New ATH, Becomes the 8th Largest Crypto Currency
After an astounding 822-percent jump last month, Dogecoin (DOGE) is once again headed to new heights thanks to some star power.
With recent tweets by Gene Simmons and even Snoop Dogg, the cryptocurrency has been trending steadily on Twitter. And now, with a new tweet from Elon Musk, reading “Who let the Doge out,” the price for Dogecoin has hit a new all-time high. Surging 53 percent in the last 24 hours, DOGE managed to hit $0.082 USD at its peak, ultimately giving it a market value of $10 billion USD — now the 8th largest cryptocurrency.
Tesla Buys $1.5 Billion in Bitcoin
Tesla announced Monday that it bought $1.5 billion worth of bitcoin, according to a filing with the SEC.
The company said it bought the bitcoin for “more flexibility to further diversify and maximize returns on our cash,” according to the filing. In addition to the purchase, Tesla said it would start accepting payments in bitcoin in exchange for its products as well. That would make Tesla the first major automaker to accept bitcoin as payment.
The move raised immediate questions around CEO Elon Musk’s behavior on Twitter recent weeks, where he has been credited for increasing the prices of cryptocurrencies like bitcoin and dogecoin by posting positive messages about them and therefore encouraging more people to buy.
Tesla’s move Monday represents an investment of a significant percentage of its cash in the investment. The company had more than $19 billion in cash and cash equivalents on hand at the end of 2020, according to its most recent filing.
Bitcoin Tops $47K After Tearing Through $45K, $46K in Tesla-Fueled Rise
In a run reminiscent of bitcoin’s stunning ascent in early January, the price of leading cryptocurrency blew past $45,000, $46,000 and $47,000 in less than an hour on Monday evening, driven by Tesla’s announcement that it had bought $1.5 billion of bitcoin.
- Bitcoin hit $47,513.57, a new all-time high, before settling back to $47,053.09, up 20.6% in the last 24 hours.
- $45,000 was supposed to have been a milestone of sorts but the cryptocurrency’s race upwards turned it into an afterthought. The cryptocurrency has risen about 67% year-to-date.
- A combination of traders in Asia just waking up to the Tesla news combined with a lack of resistance levels above $45,000 were possible causes for the sudden gap upwards.
- While those might be the immediate catalysts for the sudden surge in the cryptocurrency, they’re not the only reasons for bitcoin’s stunning rise.
- Tesla joins publicly traded companies including Michael Saylor’s MicroStrategy that have steered corporate money into bitcoin (BTC, +19.68%). And from the price of bitcoin today, it’s clear some investors think it’s just getting started.
- As more institutional investors like Tesla are buying bitcoin and “hold” it for the long term, bitcoin’s liquid supply is continuing to decline, according to blockchain analytics firm Glassnode’s newsletter on Monday.
- With this latest surge, the market value of bitcoin ($860.4 billion) has once again passed that of Tesla ($818.4 billion) after topping it for the first time ever earlier Monday.
Ether at new high as BTC investors pull out of Ethereum protocol
Meanwhile, ether (ETH) is also hitting records and the asset’s correlation with bitcoin has cropped back up to levels not seen since December.
The second-largest cryptocurrency by market capitalization was up Monday trading around $1,720 and climbing 8.5% in 24 hours as of 21:00 UTC (4:00 p.m. ET). The price hit a fresh all-time high Monday, hitting $1,776, according to CoinDesk 20 data.
The amount of bitcoin held in Ethereum-based decentralized finance, or DeFi, has dropped almost 3.5% Monday, going from over 50,000 to 48,344 BTC as of press time, according to data aggregator DeFi Pulse.
Swissquote’s Thomas notes that Monday may be a day for larger players to start moving some bitcoin around because a fresh bitcoin price high might induce some investors to diversify their profits.
“Larger hedge funds, etc., [that] had got into bitcoin between $15,000-$20,000 would naturally want to take profits around $45,000-$50,000″ for a profit of 2.5–3x. “I’ve always viewed that as a hard challenge,” Thomas told CoinDesk.
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