BitMax.io Weekly Roundup

One-minute Digest on Us and Market

July 11 - July 17, 2020

Market Watch

• Oil futures lost ground Friday, turning lower for the week, with more market uncertainty over crude demand outlook with the increasing number of COVID-19 cases in the U.S. and around the world.
• Bitcoin has been trading sideways and range bound between $9,100 - $9,350, hence decreasing volume on both spot and derivative markets; BTC volatility has plunged to a 15-month low.
• Ethereum (ETH) options open interest hit an all-time high; As of July 16, accumulative trading volume of ETH reached almost $ 6.5 trillion dollars (source: coinmarketcap).
• Trading volume of BTC futures, options and ETH futures all contracted nearly 15% over last period.

Platform Update

1. Updated Futures Trading Fee Schedule.
2. BCHSV renamed as BSV; display name of BTC-PERP updated as BTCUSDT.
3. Implemented deposit & withdrawal support for of TRC20-USDT. Now total three forms of deposit & withdrawal of USDT available: Omni-USDT, ERC20 USDT and TRC20-USDT.
4. Version 1.2 of Copy Trading Service scheduled to go online in a week.

Latest Listing

July 16^th - Orion Protocol (ORN) listed under the trading pair of ORN/USDT. Great performance since then. As of July 17th, 6:00 a.m. EDT, intraday up at 5.99x and all-time high at 8.89x  .

Orion is a DeFi platform providing B2B + B2C solutions for liquidity. It aims to solve the the largest problems in DeFi by aggregating the liquidity of the entire crypto market into one decentralized platform – pulling from every major centralized exchange, decentralized exchange, and swapping pool. 

Activity in Spotlight

The Final Showdown of BitMax's Trading Regatta in full swing. Stay tuned to find out who will be the ultimate winners!

DeFi Project Highlights

1. Insolar (XNS) Pre-Staking: 10% Est. Annualized Return
2. THORChain (RUNE) Staking: Stake RUNE for a chance to share 61,000 RUNE (worth around 30,000 USDT).
3. FIO BitTreasure: 24%/36% Est. APR
4. 3-Month xDai (STAKE) Pre-Staking Program & Additional Incentive Program: 36.4% Est. Annualized Return; Stake XTZ/ATOM/KAVA in addition to STAKE for a chance to win Pre-Staking Sweepstake Draw and earn 5X the staking rewards.

What’s Upcoming

1. Launch Staking Service on APP
2. Develop Isolated Margin Mode for Futures Trading

Note: Please refer to announcement on bitmax.io official website for further details.

For more information, follow BitMax.io on:

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