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PrimeXBT Removes All Fees on Traditional Market Trading

PrimeXBT

In a crypto economic context that is uncertain, to say the least, all good news is welcome! Here are some concerning PrimeXBT, and not the least of which, since the famous exchange has decided to remove all fees on traditional market trading from 12th to 23rd September 2022, allowing all its users to enjoy trading commodities, stock indices and Forex without having to pay any fees at all.

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It will have escaped no one’s attention that we are currently in a prolonged crypto winter, the end of which no one can predict precisely. It, therefore, seems logical and even prudent to play the portfolio diversification card. PrimeXBT’s offer of a total freeze on traditional market trading fees is therefore timely in this crisis context. “Don’t put all your eggs in one basket” is a popular saying that has taken on its full meaning.

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It is apparent that many traders tend to focus on the cryptocurrency market, sometimes neglecting the traditional markets. However, the latter may be essential for creating a profitable portfolio. One of the arguments in favour of trading in multiple markets (crypto and traditional) is the fact that you can diversify the overall risks. The last few years have shown us that most cryptocurrencies move mostly in the same direction. When the Bitcoin price is down, all markets are down. When the market is bullish, Bitcoin and the major altcoins are also bullish. By trading other assets like stock indices, Forex, and commodities, you will encounter new opportunities and many more chances to profit from the market.

PrimeXBT-3

Very often, it is necessary to switch between platforms to trade in different markets. This is not the case here, as you can do everything within the PrimeXBT site. This saves time and is much more convenient for traders.

PrimeXBT is one of the few platforms that offers the possibility to trade on different markets such as metals (gold, silver), stock indices, Forex, oil, and the SP500 stock index. It is also worth noting that it is possible to use leverage on PrimeXBT without having to sell your favourite cryptos to access a wide range of trading assets. You can use not just Bitcoin, Ether, USDC, and USDT but also other cryptocurrencies as margin collateral to operate on several markets.

If you are unfamiliar with commodity trading and Forex, this is the perfect opportunity to get started! If you’re looking to try it one day, you might as well try on a site that completely eliminates trading fees. And if you’re a beginner, we encourage you to check out the PrimeXBT Trading Academy. Read more in this article.

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blockchain

Crypto Fraudster Who Swindled Victims out of Bitcoin and ETH

Crypto

A South Korean crypto fraudster who duped victims out of some $1.7 million worth of bitcoin (BTC), ethereum (ETH), and fiat has been handed a five-year jail sentence.

Chosun reported that the man (33), identified only by his surname Han, was sentenced by the Criminal Division of the Seoul Central District Court. The court also fined Han around $700,000.

The court heard that Han had claimed to have created a blockchain-powered platform for webtoons – web-based cartoon strips – in April 2019. Webtoons are extremely popular in South Korea, and have grown into a multi-billion-dollar industry.

Han created a firm to back this project, and the company apparently went on to create a cryptoasset. Han claimed that this token would become the sole currency that could be used on the platform. The court heard that he told investors in his project that the firm was seeking to have the coin listed on a major crypto exchange – and that this would see its worth rise 10 times higher than its current level.

The hitch in all of this, the court heard, was that there was no platform – just empty promises. Prosecutors explained that Han lacked both the “ability and the intention to develop a platform” or “list a cryptoasset.” Thirty victims were drawn in by Han’s rouse, however – and backed him with BTC, ETH, and fiat KRW funds.

The court ruled that Han’s claims to be able to boost the coin’s price by seeking a listing amounted to “investment fraud.”

Crypto-Fraudster Gathered BTC, ETH, Was ‘Indifferent to Victims’

Han appears to have continued attracting investors paying BTC and ETH until the police stepped in to investigate the platform last year.

The presiding judge stated that Han had sought to “speculative fever” in the project’s group chatrooms and that he had shown “indifference” to his “victims.”

But the judge also criticized the victims, castigating them for backing “a business based on new technologies without looking closely at the reality of the situation.

The judge added:

“[The victims] made extremely high-risk investments in pursuit of high returns that would be difficult to achieve in a fair manner on the [cryptoasset] market.”

The government earlier this month stated that it had traced $1 billion worth of fraudulent crypto transactions thus far in 2022.

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Japan Gaming Giants Looks to Play 2 Earn – That’s Good News for Battle Infinity

Japan Gaming

Japan Gaming-Japan houses some of the world’s largest and most prolific game developers on the planet. Nintendo, Square Enix, and Sony are just a few of the names headquartered on the island country. Now, it has been reported that some of the nation’s largest developers will begin to look toward play-to-earn (P2E) gaming for new opportunities. 

Square Enix and Play-to-Earn

While the mainstream adoption of P2E technology has been fairly so, it seems to be picking up quickly now that the sector has had some much-needed time to mature. 

Japan Gaming

Yosuke Saito, the director of the Square Enix Blockchain division has recently announced a partnership with P2E-centric blockchain Oasys, stating:

“We are excited to join the Oasys team and others in the gaming community on this project. Our shared enthusiasm for Web3 gaming makes this an exciting partnership for us and we look forward to gaining insights that can advance the creation of all-new gameplay experiences for gamers across the globe.”

How this Move Affects P2E Games

This is phenomenal news for developers and projects focusing on creating P2E experiences. An example of a P2E developer set to benefit in a big way is Battle Infinity (IBAT). The project has recently completed its presale and was released on PancakeSwap to huge demand, surging upward by around 400% on its first day. 

Japan Gaming

The project allows users to create a fantasy sports team with cards that can be easily bought, sold, and traded by tokenizing assets in the form of NFTs. Furthermore, Battle Infinity is developing a series of player-vs-player P2E games that have already stirred up a fair amount of excitement. 

While the BSC-based IBAT token and Battle Infinity as a whole, have already been met with a lot of positivity from investors and it’ll likely enjoy even more hype once some large, well-known game studios jump aboard the P2E train. Such a move will likely push P2E technology to the forefront of the gaming industry, allowing already established projects like Battle Infinity to really shine. 

Play-to-earn gaming as a whole is still a fairly new concept that has yet to prove itself. However, if a developer like Square Enix is able to show that the concept can work for larger titles, the whole sector will likely explode as fans turn toward P2E games to get rewarded for playing their favorite titles while developers rush to create new games and experiences to ensure they’re not left behind. 

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blockchain

BNB Smart Chain Teams Up With Google Cloud to Accelerate Web3 Development

BNB Smart

BNB Smart Chain, the blockchain developed by major crypto exchange Binance, has announced a strategic partnership with Google Cloud, the cloud computing services arm of multinational tech conglomerate Google. 

The BNB Chain team said in a press release that it is joining forces with Google Cloud to accelerate the growth of web 3 and blockchain startups-ups. 

The partnership will allow early-stage startups in the BNB Chain ecosystem to develop and scale high-performance, efficient, and sustainable applications with help from both Google Cloud and BNB Chain. 

As part of Google Cloud’s contribution to the partnership, start-ups in the BNB Chain ecosystem can now build on its industry-grade cloud infrastructure. The platform has been described as open, scalable, developer-friendly, and scalable. 

The start-ups, along with the over 1,300 active BNB Chain decentralized applications (dApps), can also access Google Cloud services for on-demand analysis of on-chain data and the encryption of data while it is being processed in real-time.  

For its part, BNB Chain will facilitate accelerated access to Google for Startups Cloud Program for eligible Web3 builders in its ecosystem, especially those that pass through its Most Valuable Builder (MVB) accelerator program. This will give the startups access to connect with Google Cloud Startup Success team members and Google’s technical subject matter experts, among other perks. 

“At BNB Chain, we have been focusing on identifying and supporting innovative Web3 builders, and now by collaborating with Google Cloud, we can help these builders access the open, secure, and carbon neutral cloud infrastructure that’s needed to strengthen and scale their businesses,” Gwendolyn Regina, Investment Director at BNB Chain, said.

Cloud computing giants looking to attract blockchain businesses

The collaboration is coming after Google Cloud inaugurated its Web3 team in May, tagging James Tromans – a former Citigroup executive – to head it. As reported by CNBC at the time, Amit Zavery, a vice president at Google Cloud, stated that the goal of the team is to make the Google Cloud Platform the top choice for blockchain developers. 

Early assignments given to the team include working on projects that will enable better management of blockchain nodes and exploring blockchain data in third-party applications. 

Before then, Google’s cloud services already offered developers tools to use in building blockchain networks with customers such as Dapper Labs, Hedera, and Thera Labs. The platform also previously underwent an integration with Polygon to allow developers to analyze on-chain data. 

Meanwhile, it is not the only cloud computing giant eyeing the blockchain space. Last year, Amazon Web Services (AWS), the market-leading cloud computing platform, announced that it was hiring blockchain experts. 

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Golem Price Pumping 55% to $0.3645 – Should You Buy this Crypto Today?

Golem is currently on a bullish streak, having increased by more than 55% in seven days to trade at $0.36350 – but GLM is known for massive euphoric surges followed by severe retracements. 

Golem Network is a revolutionary decentralized computation network that distributes excess computing power to those in need, with the network creating a peer-to-peer organization where users can buy and sell computing and join on an equal footing. 

GLM is the utility token that is the gateway to the Golem Network. Users can also rent idle digital resources or assets with extra computational power using the Golem (GLM) cryptocurrency in peer-to-peer transactions.

Golem Price & Tokenomics

Golem is priced at $0.368242 at the time of writing and the 24-hour trading volume is $393 million – with a price increase of 4.99% in the last 24 hours – however in the last 12 hours the prices has dipped 30% from highs of $0.5255

A day before, the GLM/USD pair opened at $0.3317, placing a high of $0.4782 and a low value of $0.3134. 

Golem

CoinMarketCap now ranks #98, with a live market cap of $368 million. It has 1,000,000,000 GLM coins in circulation and a maximum supply of 1,000,000,000 GLM coins.

What’s driving a general uptrend in GLM? Let’s find out…

Hiring Campaign Boost’s Investors 

The network’s official Twitter feed released a tweet on September 6 that stated their coders earn between $3,000 and $10,000 monthly. 

However, the benefits they bring go far beyond monetary compensation. They urged developers not to send CVs if that was all they wanted.

Hiring new employees indicates that the company is expanding, which boosts investor confidence. As a result, investors begin investing in those companies, expecting a higher growth rate to cause a surge in the coin’s price. This could be one of the reasons for the recent uptick in Golem prices.

According to the tweet, Golem provides a transforming experience similar to discovering your ability. According to Mattias Nystrom, Head of Community at the Golem Project, developers at Golem may choose the currency they compensate, but we also offer a lot more. 

He said that excellent coders should be given special treatment, such as access to our Jastarnia code, a relaxing resort, and the inspiration and thrill of working with cutting-edge technology. The network claims they are always looking for talented developers to join Golem. 

Furthermore, they understand that talent recognizes talent. That is why they offer a team member referral program called #DiscoverYourSuperpower, which rewards current employees with $4,500 for recommending new superhero developers to the company.

The fundamental purpose of the GLM Rewards Program is to create a movement that enables people across national boundaries to promote cooperation within the Golem community.

GLM Technical Outlook: Should You Buy This Crypto Today?

On the technical front, the GLM/USD has shown a bearish retracement, falling from $0.5500 to $0.3625. GLM has completed a 61.8% Fibonacci retracement at $0.3746 and is heading lower. 

On the downside, the 78.6% Fibonacci retracement level will be the next level of support and may underpin GLM at $0.3275. 

GLM’s immediate resistance remains at $0.3746 and 0.4079 – A break above these levels may allow for additional buying until the $0.4413 and 0.4820 levels. 

Golem

The GLM has closed the “three black soldiers” candlestick pattern on the 4-hour timeframe, indicating a strong bearish bias in the short run.

 As a result, it appears that investors should hold off on entering the market until GLM completes the 78.6% retracement.

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