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2020 Review and 2021 Outlook

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Disclaimer: The text below is a press release that was not written by Cryptonews.com.

2020 Review and 2021 Outlook - Our Continuous Pursuit of Breakthrough, Excellence and Win-win 101

Dear BitMax.io Users, Community Members, Partners, and Supporters,

Happy New Year!

The year 2020 was a memorable one for all of us at BitMax, our community members, and to a large extent, the entire industry. Not only did major digital assets achieve broader adoption globally, but the ever-evolving landscape also saw tremendous progress. Riding the wave of the recent market boom, BitMax has further accelerated our remarkable growth alongside the development of the broader digital asset ecosystem.

In 2020, we continued building on our innovation-focused core strength to catalyze expansion from product design to industry partnership expansion. With a client-centric mindset ingrained, our global teams have worked around the clock to enhance every possible product detail based on your feedback and suggestions to deliver a reliable and seamless customer experience.

After three years, we have expanded our global footprint to five operational centers servicing well-diversified users across 196 countries. From a holistic product offering perspective, we have completed the full integration of “Cash –Margin – Futures – Staking – DeFi Mining” that harnesses the growth benefits of a virtuous cycle for both retail users and sophisticated institutions. In 2020, the total number of BitMax.io users increased by 300%. Our platform currently supports five different languages and 11 fiat– enabled deposit services via partnerships with third-party vendors. 2020 marked a major step forward in community engagement with the launch of the “Global Community Captain Program.” Since then, we have engaged many new users through collaboration with over 100 top crypto communities. On the listing front, BitMax conducted over 20 primary listings, of which 7 auction projects consuming 20 million BTMX.

Let us recap our 2020 key accomplishments and milestones and share our thoughts on strategic priorities for 2021.

2020

Jan:

  • Provided immediate support for the areas hit hard by Covid-19 pandemic with the donation of medical supplies.

Feb:

  • Introduced derivatives trading via a bitcoin perpetual contract with up to 100x leverage and a distinctive risk engine.

Mar:

  • Strengthened institutional client penetration with dedicated services of comprehensive product suites and infrastructure upgrades.

Apr:

  • Introduced industry-leading Staking Service which currently supports staking of 35 tokens with top performance in returns, staking ratio as well as total staked assets.

July:

  • Launched Community Captain Program for active engagement with over 100 digital asset communities. Reached out to over 10 million users and laid the cornerstone for BitMax’s continued global expansion.

Aug:

  • Hosted the first DeFi Night in Shanghai, China. The event attracted multiple leading media outlets and hundreds of seasoned professionals in the digital asset space.

Sept:

  • Rolled out DeFi Yield Farming, a simple and easy-to-use farming product for users to maximize potential returns on capital.
  • Hosted the second DeFi Night in Shenzhen, China.

Oct:

  • Provided multiple-language website support to better serve an increasingly diverse global userbase.

Nov:

  • Launched the support for 25X leverage formargin trading of 53 tokens with distinctive features such as one-click unwind, auto borrow/repay via trading, and cross-asset collateral mode designed to enhance user funding efficiency.

Dec:

  • Conducted auction for Terra Virtua (TVK) and Bonfida, following impressive auction results of xDai Chain, Swingby, Serum, Stafi, and Akash earlier this year. In total, 20 million BTMX were consumed with those seven successful auctions in 2020.
  • Hosted BitMax 2nd year anniversary celebration in Beijing, China. The event brought together over 200 blockchain investors, traders, users, and entrepreneurs and featured several rounds of in-depth discussion led by our team on key industry thought-leadership topics from the latest trends in digital asset trading to challenges and future development of DeFi.

2020 was a breakout year for BitMax, driven by our continuous innovative product development and early-mover advantage in strategic alignment with the leading projects from DeFi ecosystem. Currently, the platform lists 156 digital assets from a wide-range of industry-leading blockchain projects and offers trading services across over 200 trading pairs with an average daily trading volume of $300 million across cash, margin, and futures products. Our communities were kind enough to recognize BitMax as “the Trading Platform of the Year. “

Exceptional performance in 2020 laid a strong foundation for 2021. But there is still much work to be done. Looking back on our past three-year journey through the ups and downs of crypto markets, we have all learned the path to sustainable business growth is not only built upon timely seizing the market opportunity, but also supported by relentless execution of client-centric strategy, global operational efficiency, and continuous product and infrastructure enhancement on the longer term.

Therefore, in 2021, our strategic priorities will be centered around fine-tuning our operational strategies for accelerated global user acquisition, deepening integration of Trading-Staking-De-Fi product ecosystem, and upgrading our services for better user experience:

  • Scale derivatives trading and innovative staking mechanism
  • Improve copy trading and fiat on-ramp capabilities
  • Optimize platform user functionalities and expand community engagement for more aggressive retail client acquisition and retention
  • Enhance VIP offerings and infrastructure solution to further accelerate institutional client penetration
  • Broaden and deepen strategic partnership with leading players across the value chain of digital asset industry

With digital asset market capitalization and trading volume reaching an all-time high, the competition has also intensified among all the exchanges and trading platforms, which we believe will lead to a new wave of growth opportunities. Looking ahead, we are confident that our tradition of innovation, the spirit of continuous improvement, and the commitment to operational excellence will continue setting us apart from other competitors and help us reaching a top-tier global trading platform.

Client-first has always been a core part of our global strategy and execution. On behalf of our entire BitMax team, we would like to extend our sincere appreciation to all of you. Many of you have been long-time supporters and users of our platform from day one. We are deeply grateful for all your enthusiasm and feedback that helps us improve and excel.

With 2021, we see a world of opportunity for digital assets and blockchain technology to power the markets of the future. We are very excited to move forward with you!

Wish you and your loved ones a Happy and Healthy Lunar New Year!

CEO George Cao, COO Ariel Ling, and the BitMax team
Feb 05, 2021



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FreshKorn Cryptocurrency

Dow plummets more than 500 points as volatility returns to stock market

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The Dow fell more than 530 points Friday, a drop of around 1.6%. It was a broad-based selloff, with all 30 Dow stocks finishing in the red. Intel (INTC), Goldman Sachs (GS) and Walgreens (WBA) were among the biggest decliners.

The Dow is now on a five-day losing streak, falling nearly 3.5% this week. That’s the worst weekly pullback since late January.

Bullard, who does not have a say on the Fed’s policy committee this year but will have a vote in 2022, also said in the interview that the Fed is also starting to discuss the idea of tapering, or cutting back, its bond purchases.
Wall Street is worried about inflation. But investors are also nervous about the Fed taking away the stimulus it injected into the market during the height of the Covid-19 pandemic.

“There is more future volatility ahead,” said Bruce Monrad, portfolio manager of Northeast Investors Trust. “It should increase as the Fed starts to think about raising rates and once it starts tapering.”

These market gyrations could become more routine, which may alarm investors who have gotten used to more calm on Wall Street.

It’s actually been an unusually quiet first half of 2021 — despite the craziness with meme stocks like AMC (AMC) and GameStop (GME) and the big moves in bitcoin (XBT) and other cryptocurrencies.
This cannabis stock is a new Reddit favorite
If you look at the broader stock market, and the VIX (VIX) volatility index in particular, 2021 has been serene for investors.

“Volatility has been very low because the market overall supported by improving earnings,” said Marco Pirondini, head of equity at Amundi US. “But there is always some speculation in other corners of the market.”

The VIX, which many investors refer to as Wall Street’s “fear gauge,” is now hovering around the pre-pandemic levels of February 2020. It’s been steadily declining since peaking in March of last year. The VIX has fallen nearly 15% in 2021.

But the VIX spiked about 10% Friday, and some experts warn that the summer and latter half of 2021 could be a bit bumpier than the first six months of the year.

“When you look at the VIX, it’s eerily quiet. But that’s a little bit misleading,” said Darren Schuringa, CEO and founder of ASYMmetric ETFs, which runs a fund designed to lower investor risk.

Schuringa said he’s worried about the “speculative excess” in the meme stocks as well as in the tech sector and thinks that a broader market correction could be on the horizon.

It’s also clear, as Friday’s market pullback illustrates, that investors are hyperfocused on every little thing the Fed says about interest rates, tapering, inflation and the economy.

“I’m concerned about volatility in the second half of year. There is less room for error,” said Daniela Mardarovici, co-head of US multisector fixed income at Macquarie Investment Management. “Even a mild surprise from the Fed could create an aftershock.”

Still, it’s worth noting that volatility, while rising lately, remains relatively low. Measures of volatility for oil and interest rates have tumbled in recent months, along with the VIX.

“We could see some hiccups ahead. But it’s still pretty calm,” said Bill Sterling, global strategist with GW&K Investment Management.

Investors may also be overreacting to every utterance by Fed members. After all, Bullard is just one person, who doesn’t even have a vote until next year. The remaining Fed members still don’t think a rate hike is imminent.

“Big changes from the Fed are likely still years away. This volatility might be transitory but it will rear its head every now and then because of more uncertainty,” said Marvin Loh, senior global macro strategist with State Street Global Markets.



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FreshKorn Cryptocurrency

Dow plummets 500 points as volatility returns to stock market

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The Dow fell 500 points in late morning trading Friday, a drop of around 1.5%. It was a broad-based selloff, with 29 of the 30 Dow stocks in the red. Caterpillar (CAT) was the only winner while Intel (INTC), Goldman Sachs (GS), American Express (AXP) and Walgreens (WBA) posted the biggest drops.

The Dow is now on pace for its fifth straight day of losses, falling more than 3% this week.

Bullard, who does not have a say on the Fed’s policy committee this year but will have a vote in 2022, also said in the interview that the Fed is also starting to discuss the idea of tapering, or cutting back, its bond purchases.
Wall Street is worried about inflation. But investors are also nervous about the Fed taking away the stimulus it injected into the market during the height of the Covid-19 pandemic.

“There is more future volatility ahead,” said Bruce Monrad, portfolio manager of Northeast Investors Trust. “It should increase as the Fed starts to think about raising rates and once it starts tapering.”

These market gyrations could become more routine, which may alarm investors who have gotten used to more calm on Wall Street.

It’s actually been an unusually quiet first half of 2021 — despite the craziness with meme stocks like AMC (AMC) and GameStop (GME) and the big moves in bitcoin (XBT) and other cryptocurrencies.
This cannabis stock is a new Reddit favorite
If you look at the broader stock market, and the VIX (VIX) volatility index in particular, 2021 has been serene for investors.

“Volatility has been very low because the market overall supported by improving earnings,” said Marco Pirondini, head of equity at Amundi US. “But there is always some speculation in other corners of the market.”

The VIX, which many investors refer to as Wall Street’s “fear gauge,” is now hovering around the pre-pandemic levels of February 2020. It’s been steadily declining since peaking in March of last year. The VIX has fallen nearly 15% in 2021.

But the VIX spiked more than 10% Friday morning, and some experts warn that the summer and latter half of 2021 could be a bit bumpier than the first six months of the year.

“When you look at the VIX, it’s eerily quiet. But that’s a little bit misleading,” said Darren Schuringa, CEO and founder of ASYMmetric ETFs, which runs a fund designed to lower investor risk.

Schuringa said he’s concerned about the “speculative excess” in the meme stocks as well as in the tech sector and thinks that a broader market correction could be on the horizon.



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Con Artists Capitalizing On Cryptocurrency Craze – CBS Miami

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