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Delta Exchange completes $5M token raise as it launches new liquidity pools for crypto derivatives

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Delta Exchange, a cryptocurrency derivatives exchange company, announced today that it has raised $5 million from investors in a private sale for DETO, the platform’s native token.

Participating investors include Sino Global, Aave Ventures, CoinFund, Kyber Network, Spartan, QCP Soteria, LuneX Ventures, gumi Cryptos Capital, BR Capital, and others.

Delta Exchange offers Perpetual Swaps, Futures, and Options on Bitcoin and over 60 altcoins with up to 100x leverage. The exchange also offers advanced derivatives products such as interest rate swaps and calendar spreads on Bitcoin and is the first to launch a marketplace for retail traders to discover and subscribe to battle-tested algo trading strategies.

“The completion of DETO’s private sale builds on to the great year Delta is having. We have seen an increase in revenues, trading volumes, customer acquisition and have added a number of new products and features to the platform. We look forward to an exponential growth in the coming months,” said Pankaj Balani, CEO of Delta Exchange.

Liquidity Mining and Trade Farming

Coinciding with the token launch, liquidity mining and trade farming features will go live on Delta Exchange. This marks the first offering of liquidity pools on a centralized derivatives exchange. Delta will also open the DETO-USDT market immediately after the token launch. DETO-USDT is going to be the first spot market on Delta Exchange, which has been a derivatives-only exchange till now. The platform will soon start to offer spot markets on Bitcoin and Altcoins.

“DETO is integrated across the value chain of the exchange. It will help boost liquidity via liquidity mining, it will help increase volumes via attractive cashback and it will help build customer loyalty as DETO can be used to pay trading fees, at higher of market price or MSP (minimum support price). These features will boost the platform’s growth which will in turn boost DETO,” Pankaj added.

“The Delta team has experience in creating compelling financial products for both institutions and retails, including being the first centralized exchange to offer crypto interest rate swaps and the first to list many perpetual swap products,” said Kelvin Koh, CIO at Spartan. “We’re excited for Delta’s unique positioning in India, an increasingly important market in crypto, and are thrilled to support the team”

“There is no doubt that the derivative market of cryptos will be huge.” Said Rui Zhang, GP of gumi Cryptos Capital, “Given the nature of cryptos, a variety of derivative products to fulfill the different demands of the mass users will be a key factor to succeed. I am impressed by how creative and how fast the Delta Exchange team is able to develop and roll out new derivative products.”

DETO Token

Delta Exchange Token (DETO) is an ERC-20 utility and rewards token that powers trading on the Delta Exchange platform. It utilizes liquidity mining via market-making pools, the first liquidity pools developed by a derivatives exchange, which resemble those of existing DeFi AMM pools with key differences. Delta’s liquidity pools have a fixed capacity and will not absorb capital beyond a certain threshold. “A ceiling is kept to drive capital efficiency and to boost the APY on the capital in pools. This structure also creates competition amongst liquidity providers and will help fill the pools faster,” explained Pankaj.

Matthew Graham, Partner, and CEO of Sino Global said, “The Delta team led by Pankaj is among the best qualified we have encountered. Pankaj and Jitender have worked in financial markets & derivatives trading at Citi, UBS, and GIC. Saurabh is a serial entrepreneur with a track record of building products at scale. Sino Global is thrilled to support team Delta as a strategic investor and partner.”

Liquidity providers will earn DETO as a reward in addition to returns generated from market-making by AMM pools. Traders who trade on the exchange will be distributed DETO as cashback from the daily rewards pool basis their trading volumes.

“We have been long-term supporters of Delta and are impressed by the way they have grown. We like DETO and its design, which has aspects of both DEFI and CEFI. It is one of the most innovative token designs we have seen to date,” said Loi Luu, Co-founder, and CEO of Kyber Network.

For more information about Delta Exchange, check out its Whitepaper: https://www.delta.exchange/deto/whitepaper.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.cryptoninjas.net/2021/03/30/delta-exchange-completes-5m-token-raise-as-it-launches-new-liquidity-pools-for-crypto-derivatives/

Blockchain

Grayscale Adds $1 Billion in Bitcoin, Nears $50 Billion in Total AUM

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Investment giant Grayscale recently added another $1 billion worth of Bitcoin in almost 24 hours. Now, the firm nears the $50 billion mark with $46.1 billion in total assets under management (AUM)

AUM Growing

As reported by CryptoPotato recently, the investment firm increased its total AUM by more than $3 billion, shortly after expanding its crypto-trust offerings by adding five new tokens for their eligible accredited investors. 

The Grayscale Bitcoin Trust (GBTC) accounts for $38.1 billion (82.64%) of Grayscale’s total AUM, while the Ethereum Trust (ETHE) accounts for $6.6 billion (14.26%). The remaining trusts, including Bitcoin Cash and Litecoin, account for the rest.

Notably, tokens such as Filecoin, Livepeer, Basic Attention token, MANA, and LINK saw a surge in price after Grayscale announced adding them into the list of offered trusts. The company expanded its total number of trusts to 14 after CEO Michael Sonnenshein explained they see many clients seeking exposure to more crypto assets.


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Grayscale Confirms Its Intentions to Launch a BTC ETF

Grayscale has confirmed its plans to convert its most popular investment product, the GBTC, into a Bitcoin Exchange-traded fund —after posting several ETF-related job positions on its careers page. Although, the firm does not consider that the current regulation weather in the United States is suitable for such a fund.

Unlike other investment giants that have filed for an ETF using S-1 forms, Grayscale will remain committed to converting GBTC into an ETF as the US’s regulatory environment gets clearer.

Founded in 2013, Grayscale has become the most prominent digital asset manager for accredited investors seeking exposure to bitcoin and other crypto assets. The institutional demand for BTC accelerated at the beginning of this year, according to Sonnenshein, adding that demand is nowhere near decreasing.

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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cryptopotato.com/grayscale-adds-1-billion-in-bitcoin-nears-50-billion-in-total-aum/

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Blockchain

Why ADA could run hotter than Bitcoin and make 10x gains

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After breaking in the crypto top 10 by market cap and with 3.597% gains over the past year, Cardano (ADA) seems to be laying low. At the time of writing, ADA trades at $1,24 with 1.7% profits in the daily chart and 6.4% in the weekly chart.

Cardano ADA ADAUSDT
ADA moving sideways in the 24-hour chart. Source: ADAUSDT Tradingview

Cardano’s native token and its platform are moving towards a major milestone. Targeting a Q3 entry into DeFi with Hard Fork Combinator Alonzo.

Bullish investors are betting on ADA’s further appreciation. Analyst Justin Bennett claims this token next rally will happen by the end of April. Around this time IOG should be stress-testing its smart contracts platform, Plutus.

A day ago, Bennet said to be building a “sizeable” ADA position and set support at $1.10 to $1.30. Over the next month’s, according to the analyst, ADA could go as high as $10.

On the Cardano’s native token recent price action, the analyst said it moving sideways is an indication of a “fair game”, a sign that ADA’s price is not overvalued. Bennet added:

ADA moving sideways for 6 weeks tells me the market doesn’t believe it’s overvalued at all. I don’t buy markets that are going vertical. I buy markets that went vertical recently and have since gone sideways for over a month. That’s a recipe for the next leg higher.

By the end of the month, ADA could target $2, as indicated by the chart below, and then could go for a higher price at $3 in the coming months.

Cardano ADA ADAUSDT
Source: Justin Bennett

In the 2017 bull run, ADA peaked at $1,18 therefore Bennet claims it could a 10x from its current price. Comparing ADA to Bitcoin, the analyst said the latter has “never done less than” a 10x profit in a bullish cycle. He added:

We know alts run hotter than Bitcoin. Translation: $10 $ADA is conservative, and $20 – $30 wouldn’t surprise me.

Smart contracts capabilities closing in on Cardano

Cardano’s next protocol upgrade is set to make it “the leading smart contract platform”, according to Olga Hryniuk from IOG. Outlining Alonzon’s roadmap and launch, Hryniuk wrote:

Throughout March and April, the IO Global team has been gradually combining the Alonzo rules with the Cardano node and ledger code (…). We expect the Alonzo upgrade (hard fork) to happen in late summer, and we will announce a firm date in April’s Cardano360 show.

In the crypto space, many believe Ethereum’s high fees are pushing users towards cheaper options. Cardano’s platform promises this with higher security for its smart contracts and EVM compatibility.

If Ethereum’s competitors, like Binance » Read more

” href=”https://www.newsbtc.com/dictionary/coin/” data-wpel-link=”internal”>Coin (BNB), performance is any indication of where ADA could go, then investors should pay attention to BNB’s rally.

With a 70.6% increase in just one month, BNB seems pegged to smash all resistance and keep scoring all-time highs. It remains to be seen if ADA will follow and take a place amongst DeFi giants.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.newsbtc.com/news/why-ada-could-run-hotter-than-bitcoin-and-make-a-10x-gains/

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Litecoin Price Analysis: 11 April

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The Litecoin market has been seeing significant growth in price since the beginning of the year. At the time of writing, LTC was returning 93% year-to-date to its investors.

LTC was being traded at $257.39 with a market capitalization of $17.22 billion. The digital asset just saw a bullish breakout, however, will it be able to maintain this high value going forward in the market?

Litecoin 1-day chart

Source: LTCUSD on TradingView

The Litecoin price was building higher within an ascending channel and witnessed a strong surge as the price broke out of the channel. LTC saw the price surge from $163 to $258 within 16 days and turned the prevalent bearishness into a bullish market.

However, LTC has been closely trading to the resistance at $258 and if it rejects this price level, the value may trade lower.

Reasoning

The surge in the value of the digital asset has resulted in increased volatility in the market. The divergence of Bollinger Bands has been an indicator of the rise in volatility, while, the signal line moved under the candlesticks. The signal line will be acting as a support if the price pushes lower.

Meanwhile, the relative strength index was noting that the digital asset was close to becoming overbought as its value hit 68. The market has been witnessing selling pressure evolve at this stage and if it escalates, the RSI will be pushed towards the equilibrium zone.

While the market switches trends, the momentum has remained high owing to the recent surge. The bullish momentum could help the asset to maintain its high value, but the rise in selling pressure could result in a correction.

Crucial level

Entry-level: $240.99
Take Profit: $191.84
Stop-level: $268.88
Risk to Reward: 1.76

Conclusion

The current Litecoin market has been fairly bullish. However, a rising sell-off could push the price of the digital asset lower under $200. With 50 moving average and the signal line extending support close to $200, the price may not drop beyond this point.


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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://ambcrypto.com/litecoin-price-analysis-11-april

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