Bitfinex Weekly Briefing (1003-1009)
secondary title
Bitfinex Becomes First Major Mainstream Exchange to List IOTA's New Token Shimmer
IOTA's new Shimmer token is listed on a major exchange for the first time. According to a recent tweet, cryptocurrency exchange Bitfinex has announced support for the SMR token.
Dominik Schiener, IOTA co-founder and chairman of the IOTA Foundation, celebrated the milestone on Twitter while thanking Bitfinex for their support of the Shimmer token. The IOTA co-founder also likened the moment to "the IOTA vibe of early 2017". After months of beta testing, the IOTA Foundation's Shimmer network launched on September 28th. Shimmer is a novel solution that enables developers to launch a variety of tokens, including stablecoins, non-fungible tokens (NFTs) and tokenized real worlds, on layer 1 (base) networks at zero fees assets. Shimmer is an independent, full-fledged blockchain using its own SMR token.
In other news, Cardano founder Charles Hoskinson invited IOTA co-founder and IOTA Foundation chairman Dominik Schiener to participate in a debate. IOTA co-founder Dominik Schiener seemed excited about the debate, saying it allowed him to talk about the progress and roadmap of the new IOTA protocol. No further details had been shared by press time.
https://u.today/iotas-new-shimmer-token-makes-its-first-major-exchange-listing-details
secondary title
Bitfinex Alpha | Bitcoin Remains Stable Despite Currency Market Turmoil
Macroeconomic headlines once again dominated the market last week. Inflation in the U.S. showed little sign of abating, while poorly interpreted fiscal policy in the U.K. led to a sharp drop in sterling and unprecedented intervention by the Bank of England in the U.K. government bond market.
The beneficiary of these events is Bitcoin. BTC/GBP and BTC/EUR trading pairs on Bitfinex and other major exchanges generated unprecedented volumes. We provide insight into the exact numbers and why traders are trying to sell GBP for BTC.
In this week's special learning segment of Bitfinex Alpha, we provide an in-depth analysis of an unprecedented week in the UK financial markets as interest rates rose at the fastest rate since 1976 - the year the UK was bailed out by international financial institutions Monetary Fund (IMF).
In the U.S., the labor market remains tight on one of the most bewildering economic issues of recent memory, undoubtedly the main driver of persistent inflation.
With prices rising so clearly and continuously, the future economic agenda of most of the world is uncertain as a strong dollar exports inflation to other countries.
Even in the UK, where the Bank of England is trying to drive down gilt yields by aggressively buying market bonds, its macro-inflationary policy, which aims to raise interest rates to keep inflation in check after the government unveiled a poorly received mini-budget, remains puzzling Method.
More interestingly for cryptocurrency investors, long-term Bitcoin holders continue to hold the cryptocurrency at a higher average price than short-term holders. In our analysis of so-called "realized price crosses," we noticed that anyone who bought BTC more than two years ago still had a lower cost basis than short-term holders. However, those who held BTC over a 1-2 year period commanded a significantly higher price than those who only held Bitcoin for six months or less. Historically, crossovers have proven to be good entry points for spot positions.
Even by weighting the different HODL groups, nearly three-quarters of holders are still held by long-term losers. We did some number crunching and historical data suggests they are unlikely to sell as they tend to hold BTC for the long term.
secondary title
Bitfinex Pay Introduces "Auto-Swap" Feature to Minimize the Risk of Volatility in Digital Token Payments
Bitfinex announced the launch of a merchant dashboard feature for Bitfinex Pay, a payment technology that allows online merchants to receive contactless and borderless digital token payments. The feature provides merchants with a range of services, including auto-conversion, which enables Bitcoin (BTC) payments to be automatically converted into Tether tokens (USDt), minimizing volatility risk.
"The automatic conversion feature enables merchants to eliminate the volatility risk associated with Bitcoin and other cryptocurrencies," said Paolo Ardoino, CTO of Bitfinex Pay. "We've been working hard to expand this functionality, including the option to provide merchants with a 'slider', for example, if a payment of $100 is received, the merchant can choose to keep $5 in Bitcoin and convert the rest into Tether tokens. currency."
The auto-convert feature allows merchants to automatically convert Bitcoin, Ethereum (ETH), Avalanche (AVAX), Dogecoin (DOGE), Litecoin (LTC), Polygon (MATIC) and Solana (SOL) into USDt, eliminating volatility risk. For example, merchants who choose to automatically convert BTC to USDt will automatically convert the payments they receive into the stablecoin via an automated limit order placed to the merchant's Bitfinex exchange wallet. Any currency exchange for amounts over $10 will be done every five minutes.
Customers of merchants offering Bitfinex Pay can simply click the Bitfinex Pay button to be seamlessly directed to the Bitfinex payment gateway. After paying with a cryptocurrency accepted by the merchant, the customer will be redirected back to the merchant's website. For more information, visit Bitfinex Payments.
secondary title
Bitfinex launched the Market Watch function, users can keep an eye on their favorite trading pairs
Bitfinex has launched Bitfinex Market Watch, a feature that provides intuitive data on trading pairs. Bitfinex users can now track their favorite markets and digital token trading pairs in real time.
Bitfinex Market Watch can be viewed in a separate window on the client screen, enabling Bitfinex clients to add multiple digital tokens and display trading pairs in a customizable tile layout, providing real-time market analysis at a glance.
"With the launch of this new Bitfinex Market Watch feature, we are providing our clients with a visual representation of a pair's price movement, providing some guides they may find more intuitive to help inform trading decisions," said Bitfinex Chief Executive Officer Technical Officer Paolo Ardoino said, "The launch of this new feature underscores our commitment to providing a professional trading experience to our growing client base."
Bitfinex is leveraging its position as a one-stop shop for trading digital tokens, offering a variety of services including spot and margin trading, staking and lending.
https://blog.bitfinex.com/media-releases/bitfinex-launches-market-watch-feature-enabling-traders-to-eyeball-favourite-trading-pairs/
secondary title
Bitfinex Lists Shimmer (SMR)
For more information on Shimmer, please visithttps://shimmer.network/。
https://www.bitfinex.com/posts/845
secondary title
Bitfinex Opens Spot Trading for Shimmer (SMR)
We are pleased to announce that Bitfinex will enable spot trading of the Shimmer Network Token (SMR).
For more information on Shimmer, please visithttps://shimmer.network/。
https://www.bitfinex.com/posts/846
secondary title
Bitfinex Announces Digivault ExchangeConnect Integration
Bitfinex announced that it has integrated Digivault ExchangeConnect, a new service that enables clients to trade while holding assets in Digivault, a UK-regulated custodian, part of the EQONEX Group.
Digivault ExchangeConnect is Digivault's latest offering, registered with the Financial Conduct Authority (FCA), to help address key issues institutional clients face when entering the digital token economy. These include the security and counterparty risks that arise from the need to keep assets on exchanges; the capital inefficiencies of allocating assets across multiple exchanges; and the cost and time inefficiencies of capital rebalancing efforts.
Digivault ExchangeConnect aims to address these issues by enabling clients to allocate and lock up their quantity of escrowed digital tokens for trading on designated exchanges. Digivault customers' locked assets will be reflected in real-time as available trading balances on Bitfinex, while never leaving the safety of Digivault.
Digivault customers can trade normally using their Bitfinex trading accounts when using ExchangeConnect. Settlement at the end of the day or intraday upon request. Digivault customers can unlock their assets from Bitfinex and withdraw them from Digivault.
"We built Digivault out of our deep understanding of the unique security requirements that digital assets require and the rigorous standards of the institution's in-house risk committee," said Rob Cooper, CEO of Digivault. "Digivault ExchangeConnect is a key innovation for global investors and sophisticated traders looking to protect their assets while trading on an exchange without sacrificing efficiency."
https://blog.bitfinex.com/media-releases/digivault-exchangeconnect-now-available-on-bitfinex/
secondary title
Bitfinex Releases Shimmer Network Airdrop for IOTA Token Holders
Bitfinex is pleased to announce that an airdrop of Shimmer Network Tokens (SMR) will be distributed to IOTA holders on Bitfinex.
IOTA starts its pre-staking period on December 21, 2021 at 3:00 PM CET, lasting 7 days until December 28, 2021, when staking rewards will be credited. Bitinex started staking IOTA tokens on behalf of its customers on January 5, 2022. Both SMR and ASMB tokens are planned to become transferable with the launch of their respective networks in 2022. Tokens will be distributed according to previously announced distribution rates and schedules. For more details, please check the official bloghttps://blog.iota.org/iota- shimmer-and-assembly-staking-roadmap/andhttps://blog.iota.org/iota-shimmer-assembly/。
and
IOTA holders on Bitfinex were allocated SMR tokens on June 10, 2022 based on their IOTA balance held at the time of the snapshot every Wednesday at 00:00 UTC from January 5, 2022 to March 28, 2022 currency. This is the basis for proportional airdrops to Bitfinex customers.
https://www.bitfinex.com/posts/847
