Author: CryptoCurrencyNews

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SINGAPORE, Jan. 13, 2025 /PRNewswire/ — Platform tokens have gained increased attention in this bull market, with notable examples from leading exchanges. Amid this surge, WXT, the native token of WEEX Exchange, has seen extraordinary growth, climbing 101% within 24 hours on January 11.

This development coincides with WEEX’s ongoing global expansion. As a rapidly growing cryptocurrency exchange, WEEX continues to increase its presence in the competitive marketplace, with WXT emerging as an integral part of its ecosystem.

This surge comes as WEEX, continues to expand its global presence. WXT’s price trajectory reflects the growing influence of WEEX in the competitive cryptocurrency market.

WXT: Reflecting WEEX’s Rapid Growth

As Andrew Weiner, Vice President of WEEX, highlighted in a recent annual update, “WXT has achieved a price increase of nearly 450% since its issuance. And WXT’s trajectory mirrors WEEX’s incredible journey of growth.”

To further enhance its global outreach, WEEX has partnered with renowned football star Michael Owen as a brand ambassador. This collaboration aims to build increased brand visibility, positioning WEEX as a widespread and innovative platform in the cryptocurrency space.

According to the WEEX white paper, WXT’s ecosystem offers diverse utilities for its holders, including trading fee discounts, staking rewards, early access to new projects, and participation in airdrops. Additionally, WEEX has implemented a strategic buyback and burn mechanism, reducing WXT’s circulating supply as part of its ecosystem development strategy. These features position WXT as a multifunctional token that appeals to both active traders and long-term participants within the ecosystem.

Exchange Tokens and Their Growing Potential

This bull market has further cemented the role of platform tokens as integral components of exchange ecosystems. Platform tokens have shown their ability to enhance user engagement by offering features such as fee adjustments and access to platform-specific benefits. As WXT gains momentum, how will it evolve within the ecosystem and shape its role in the platform token landscape? While its recent performance is promising, only time will tell if WXT can achieve the same level of success as its peers.

About WEEX

Founded in 2018, WEEX Exchange swiftly rose to prominence as a key global player in the cryptocurrency sphere. Boasting a diverse selection of over 1,000 trading pairs and spearheading a zero trading fee initiative for new token introductions, WEEX Exchange has earned widespread recognition throughout the industry. Introducing “WEEX WE-Launch,” a portal to exciting opportunities that empower users to acquire WXT tokens and engage in exclusive token giveaways, signaling a new chapter of participation and empowerment. With an active user base exceeding 5 million, WEEX Exchange has solidified its standing as a top 5 platform on CoinMarketCap, underscoring its unwavering commitment to excellence.

For more information:

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VILNIUS, Lithuania, Jan. 13, 2025 /CNW/ — The ARMswap team is thrilled to announce the launch of its 1^st version of its DeFi protocol. The web3 world is booming with numerous layer-1 and layer-2 blockchains, each having their unique algorithms and capabilities. However, their closed architecture hinders seamless interaction and information flow between networks, creating inefficiencies. ARMswap’s launch addresses this fundamental inefficiency in the current blockchain architecture and introduces a more optimized version of the multi-directional cross-chain swaps and bridges.

Simplifying Cross-Chain Transactions

“The fragmentation of blockchain networks has been a critical issue, and users were compelled to navigate through various DEXs and third-party bridges to perform a single cross-chain transaction,” notes the CTO of ARMswap. “ARMswap’s launch represents a watershed moment in addressing this fragmentation that has constrained Defi’s evolution.”

ARMswap’s architecture, validated through rigorous security audits by the leading Blockchain security firm Hashlock, combines advanced cryptographic protection for user funds. ARMswap’s protocol delivers secure and rapid swap/bridge operations, setting new industry benchmarks for transaction processing efficiency.

The platform supports 31 blockchains and their native coins in its V1 launch in Jan 2025, with plans for expansion to include more blockchains every quarter. 

In V2, ARMswap will integrate with protocols like Chainlink, Axelar network, Layer zero, Wormhole, etc., to provide extensive coverage of EVM & non-EVM chains. In V3, Armswap will introduce its own framework for relayers and oracles for seamless interoperability across Web3.

ARMSP Fair Launch

ARMswap is launching its utility token, ARMSP, in Jan 2025, incentivizing liquidity providers to actively participate in the ecosystem and to share platform and pool returns with the platform participants.

ARMswap is also releasing its DeFi Mobile App (IOS & Android) in March 2025, enabling users to connect their existing wallets and perform swap transactions and participate in liquidity pools and rewards.

Limited Supply

Join the ARMswap V1 platform and participate in the ARMSP token Fair Launch on 13^th Jan 2025, with a limited supply of 400 million tokens out of 1.25 billion max supplies. Early participants can enjoy bonuses and earn rewards through the ARMswap MVP program. After a 12-month vesting period, ARMSP will be listed on all major exchanges globally.

About ARMswap:

ARMswap UAB simplifies cross-chain asset transfers and brings the power of Web3 and the de-centralization of blockchains into our daily lives and businesses. 

Website: www.armswap.com 

For Media Inquiries:
Contact Name: Husnain Aslam
Title: Chief Technology Officer
Email: media@armswap.com

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SOURCE Armswap UAB

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DUBAI, UAE, Jan. 10, 2025 /PRNewswire/ —  Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has released the latest crypto derivatives report, published weekly with Blocks Scholes. Noting BTC’s retreat from the $100k mark a week into the new year, the analysis showed on-risk assets including crypto bore the brunt of broader macro factors. Past week’s data indicates heightened uncertainty in market dynamics ahead of Trump’s anticipated Jan. 21 inauguration, highlighting shifting investor sentiment during this significant political transition.

Key Insights:

Perpetuals Took a Winter Break: The perpetual swap market experienced a notable decline in liquidity over the holidays, with trading volumes winding down throughout Dec. 2024, leading to decreased realized volatility across the market. Notably, open interest maintained stability compared to levels preceding the great expiration of options contracts in Dec. 2024, indicating conservative positioning and limited hedging activity in perpetual swap markets.

Wide Disparity Between 30-Day Implied Volatility and 7-Day Realized Volatility: ETH’s options markets signalled an unmistakable preference for call options. In contrast,  BTC’s open interest is rebalancing after the expiration in Dec. 2024. Both ETH and BTC have experienced notable changes in their term structures heading into the new year. The sharp divergence between implied and realized volatility is at its largest since the U.S. elections, suggesting that options traders are paying a premium to price in a higher level of risk or volatility despite the calm at the surface.

ETH Calls Gaining Traction 

There has been a reshuffling in ETH open interest. While put options still hold sway in terms of total volume, call contracts have seen an uptick after Dec. However, the optimism comes with a caveat—the decline in realized volatility in the year so far has given options traders pause. The volatility term structure has steepened further, with short-term volatility (measured at a 30-day tenor) still sitting more than 15 points above its realized counterpart. This gap is the widest since the pre-election period of 2024, when geopolitical uncertainty fueled volatility premiums. Today, however, the premium seems driven more by general speculation than by any specific event. Even as the market settles, investors remain cautious, signaling looming uncertainty.

Access the Full Report here.

#Bybit / #TheCryptoArk /#BybitResearch

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.

For more details about Bybit, please visit Bybit Press

For media inquiries, please contact: media@bybit.com

For updates, please follow: Bybit’s Communities and Social Media

Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube

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LAS VEGAS, Jan. 7, 2025 /PRNewswire/ — Canaan INC (NASDAQ: CAN), a leading blockchain hardware manufacturer, today announced the launch of the Avalon Mini 3 and Nano 3S in Las Vegas, CES. The two innovative Bitcoin mining devices are designed to democratize cryptocurrency mining for individuals and turning a home heating system into a crypto mining device.

Product Innovation

Canaan is redefining home cryptocurrency mining with two groundbreaking devices. The Avalon Mini 3, with a Hashrate of 37.5Th/s, offers a unique dual-purpose solution, combining efficient Bitcoin mining with home heating. The app-controlled operation and sleek, quiet design, provides a remarkably easy-to-use, energy-efficient solution for mining newcomers and enthusiasts.

The Avalon Nano 3S, which is upgraded from the widely-welcomed Avalon Nano 3, with a Hashrate of 6Th/s, complements this offering as an affordable, beginner-friendly Bitcoin mining device. Its compact and portable design alongside its low power consumption makes it ideal for individual users while supporting the broader goal of Bitcoin network decentralization.

Reimagining Technology Efficiency

The Avalon Mini 3 can simultaneously mine Bitcoin and warm living spaces, offering homeowners a unique way to offset energy costs and reduce environmental impact. This device gives users innovative access to heat recycling, turning the computational work of Bitcoin mining into a dual-purpose solution that provides both digital currency and home comfort.

“We are committed to making Bitcoin mining accessible to everyone,” said NG Zhang, CEO and founder of Canaan. “The Avalon Mini 3 and Avalon 3S represent our vision of user-friendly, practical mining solutions for the modern individual. We’re reimagining how technology can create value while minimizing environmental waste. The Avalon Mini 3’s ability to generate cryptocurrency while heating your home is a perfect example of our vision for sustainable, multi-purpose technology.”

Availability

Preorder Now at https://canaan.io/avalonhome

During the preorder period till the end of February 2025, the price for Avalon Nano 3S is USD249 and Avalon Mini 3 is USD899 while supplies last.

About Canaan Inc.

Canaan Inc. (NASDAQ: CAN), is a technology company focusing on ASIC high-performance computing chip design, chip research and development, computing equipment production, and software services. In 2013, under the leadership of Mr. Nangeng Zhang, founder and CEO, Canaan’s founding team shipped to its customers the world’s first batch of mining machines incorporating ASIC technology in Bitcoin’s history under the brand name Avalon.

Website: canaan.io 
Media Contact: pr@canaan-creative.com
Telegram Group Official: https://t.me/Canaanio
X.com: https://x.com/canaanio

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Backpack EU to offer crypto derivatives throughout the European Union including perpetual futures where no regulated products currently exist

HANOVER, Germany, Jan. 7, 2025 /PRNewswire/ — Backpack Exchange, a fully regulated global cryptocurrency exchange, today announced the successful acquisition of FTX EU, the MiFID II-licensed former European arm of FTX. Approved by the FTX bankruptcy court and the Cyprus Securities and Exchange Commission (CySEC), this acquisition marks a major milestone in Backpack’s global expansion and commitment to delivering secure, regulated trading solutions across Europe.

With the acquisition, Backpack’s new EU arm will offer a full suite of crypto derivatives throughout the European Union including perpetual futures, a market where no regulated crypto derivatives currently exist, as unregulated offshore exchanges have been forced to wind down their unlicensed European operations.

Armani Ferrante, CEO of Backpack Exchange, commented: “As many international exchanges exit the European Union, becoming a MiFID II-licensed entity demonstrates our dedication to meeting the highest regulatory standards and is a significant step to bringing transparent, secure, and regulated crypto trading to an underserved European market.”

As part of the acquisition, Backpack EU will undertake responsibility for distributing the previously court-approved FTX bankruptcy claims to FTX EU customers.

Mr. Ferrante further noted, “Customer restitution is a crucial step to rebuild trust and confidence in the industry, and Backpack is committed to returning FTX EU customers’ funds as fast and as safely as possible.”

In addition to compliant product offerings, Backpack EU will provide seamless integration with traditional payment rails including instant, low-cost Single Euro Payments Area (SEPA)  payments and wire transfers in major currencies across the region.

The re-activation of the license is underway, with plans for Backpack EU to go live in Q1 of 2025. Further information as to how new users may sign up for Backpack EU and how FTX EU customers will be able to access their assets will be announced as it becomes available. For more information, visit https://eu.backpack.exchange/claim.

About Backpack Exchange

Backpack Exchange is a fully regulated global cryptocurrency exchange building an innovative, easy-to-use and compliant trading platform for both experienced and new web3 users worldwide. Backpack currently serves users from over 150 countries and regions with more than $60 billion in trading volume. 

The Backpack ecosystem comprises several products and services, including the popular Backpack Wallet (noncustodial), Backpack Exchange, and Mad Lads, the top NFT community in the Solana ecosystem.

X https://x.com/Backpack

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DUBAI, UAE, Jan. 3, 2025 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has released its latest crypto derivatives analytics report in collaboration with Block Scholes. The report sheds light on key trends in open interest and market behavior during the significant year-end options expiration for Bitcoin (BTC) and Ethereum (ETH).

Key highlights:

Open Interest Solid Amid Year-End Options Expiration

Although open interest in BTC and ETH perpetual swaps has not returned to the early December 2024 highs, it remained stable during the critical year-end options expiration. This stability suggests that traders did not heavily rely on perpetual contracts to hedge the delta of expiring options, which contributed to the muted volatility observed during this period. Trading volumes dipped during the winter holiday season, aligning with a collapse in realized volatility, which reached its lowest levels of December.

BTC Option Curve Remains Steep During Call-Put Parity

Contrary to expectations, the expiration of December’s options did not spark a surge in volatility. Instead, realized volatility declined to the lower end of its recent range. The implied volatility term structure for BTC options remains steep, with longer-dated implied volatility hovering around 57% and 1-week at-the-money options trading approximately five points lower. Most of the expired open interest has not been reinvested, maintaining a neutral call-put balance. As a result, BTC’s options market shows limited leverage compared to its position at the beginning of December 2024, reflecting a cautious sentiment.

Huge ETH Option Expiring Doesn’t Cause Volatility

Despite the substantial expiration of ETH options in late December 2024, market dynamics remained stable. A spike in realized volatility during December failed to extend into the new year, with ETH’s spot price currently showing lower volatility compared to short-tenor implied volatility. Over the past week, the implied volatility term structure for ETH options has shifted, steepening briefly before flattening again, diverging from BTC’s consistently steep profile. This pattern suggests that ETH’s options market is bracing for potential short-term volatility in spot price movements.

Interestingly, despite the expiration, call options for ETH have gained momentum at the start of 2025, dominating the market and indicating an optimistic outlook among traders.

Access the Full Report:

Gain deeper insights and explore the potential impacts on your crypto trading strategies by downloading the full Bybit x Block Scholes Crypto Derivatives Analytics Report.

#Bybit / #TheCryptoArk / #BybitLearn / #BybitResearch / #BTC100K

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.

For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: media@bybit.com
For updates, please follow: Bybit’s Communities and Social Media

Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube

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