Aurelia Butler

The adoption of the new trademark follows a period of significant growth for the exchange, which has in recent years built a reputation as one of the best copy trading platforms in the digital asset industry.Now known as BingX, the company hopes to continue accelerating open value transfer and empowering an accessible and engaging crypto trading experience, via innovative social trading solutions.As well as a new moniker, the platform has unveiled a fresh logo that represents the legacy of Bingbon to this point. With the updated logo, BingX seeks to foretell the next chapter of cryptocurrency trading while positioning itself as the best venue to enjoy an enhanced user experience.“A lot of thought processes and planning went into the creation of the name, BingX,”
says Communications Manager Elvisco Carrington.“It’s a name that resonates and is capable of transcending through time; one that can adapt to the ever-changing crypto climate and is easy for the international community to digest, especially for our target community – all kinds of users from beginners to crypto OGs.
“What is important to note is that BingX signals seriousness. We want our exchange to be one of the top exchanges, without leaving any doubts or uncertainties in the minds of users and interest groups like top crypto media, crypto journalists, stakeholders, and potential investors.”
Having obtained the relevant licenses in North America (the US and Canada), Australia, and several other regions, BingX will continue to emphasize its unique social trading feature which allows users to connect with elite traders and leverage smarter investment strategies.The exchange will soon be launching new trading pairs, giving users more options to interact with. Improvements to BingX’s copy-trading feature are also being made, and an upcoming series of innovative new products promises to take users on an unforgettable trading expedition.The next chapter of BingX will introduce an open social trading network platform in the buoyant crypto-economy for everyone to associate, connect, and interact on the platform.Continue reading on DailyCoin More

At this point, it has become a right of passage for digital artists to offer at least one of their pieces for sale as an NFT. There is good reason for this too, as NFTs have become one of the most valuable digital assets of the last few years, with many of them selling for significant amounts of money.One of the latest artists to offer their work as NFTs is Laya Mathikshara, a 14-year old Chennai-based art prodigy who gained worldwide acclaim for her artwork last year. Now, Mathikshara has announced an incoming collaboration with Sushiverse, a popular NFT marketplace.Details of the PartnershipAs per the official announcement, Mathikshara will design 100 pieces of 3 unique artworks as part of this collaboration. However, the 100 pieces of each artwork will be created with slightly different proportions and this means that no two will be the same.It was also announced that the pieces will be 3D and in a similar design to Mathikshara’s signature alien-like sushi characters. The collection to be released was inspired by an existing Suishiverse collection called “Gen Ichi” and will be available for sale on the marketplace from November 16, 2021.The collection is to serve as an early Christmas present to Sushiverse users and those who buy any of the NFTs from the previous ‘Gen Ichi’ collection will be able to potentially receive an NFT via airdrop from the ‘Sushiverse x Laya Mathikshara’ collection by completing a number of puzzles.Mathikshara first began creating NFTs during the first lockdown of 2020 and has received global acclaim for her pieces, selling her first NFT earlier this year. With such a high-profile artist attached to this collaboration, Sushiverse is likely to see a sold-out collection on its hands.Art and NFTsWith the success that NFTs have seen in the larger market, we can expect that even more high-profile artists will release their works in that format. Not only does it give the artists a chance to monetize their works but the fans a chance to support them as well.Continue reading on CoinQuora More

Automated Market Makers (AMMs) have evolved into the cornerstone of decentralized finance. Users have staked over $30 billion in AMMs across every major blockchain, generating billions in trading fee revenue per year. However, the financial risks associated with AMMs remain poorly understood. Often overlooked is the cost of providing liquidity, known as impermanent loss.A new study peels back the curtain on liquidity provider profits in AMMs today. Analysis of 17,000+ wallets providing liquidity in Uniswap V3 reveals that roughly half of users are suffering negative returns on their staked capital due to impermanent loss.While Uniswap V3 generates the highest trading fees of any DeFi protocol, impermanent loss entirely wiped out fee income in over 80% of the pools analyzed. Only 3 of the 17 pools analyzed earned fees that exceeded the impermanent loss.Seventeen pools were analyzed in the study, accounting for 43% of Uniswap V3’s TVL. Pools were chosen by size (pools with less than $10m TVL were excluded), data availability and token composition (like-kind and stable-to-stable pools like renBTC/WBTC and USDC/DAI were excluded).Analyzed pools generated an impressive $108.5b in trading volume and $199m in fee income from May 5th to September 20th, 2021. However, during the same period, the pools incurred over $260m in impermanent loss, leaving 49.5% of LPs with negative returns. In certain pools, the percentage of users suffering negative returns was as high as 55-70%, including MATIC/ETH (51%), COMP/ETH (59%), USDC/ETH (62%), COMP/ETH (59%) and MKR/ETH (74%).On the right, the percentage of wallets in each of the analyzed pools earning money (green) vs. losing money (red). On the left, the mean returns of losers (red) and winners (green).After finding that the average Uniswap V3 liquidity provider underperforms a basic buy and hold strategy, researchers sought to understand whether certain groups consistently outperform others. In particular, the study examined whether “active” users who adjust their positions more frequently performed better than “passive” users who don’t.To do so, the duration of pool positions was compared to the profits earned for their LPs. The assumption was that, on average, shorter-term positions likely belong to more active LPs. Those who go into the market and leave it shortly thereafter are likely to be implementing a premeditated strategy and can be considered more sophisticated, or at least more active, than those who stay longer. By analyzing the profitability of positions by duration, researchers sought to test the hypothesis that active LPs perform better. However, no correlation could be found between shorter-term positions and higher profits. Across all groups, impermanent loss outpaced fees earned, calling into question the widely held belief that active LPs outperform passive ones.IL vs. fees measured by position duration.The only group that consistently made money when compared to simply HODLing were just-in-time or “JIT” liquidity providers who provide liquidity for a single block to absorb fees from upcoming trades, then instantly remove their position. This liquidity was provided intra-block and it did not cause any meaningful IL, leaving 100% of the fees as profit. All other segments have an IL/fees ratio that is greater than 1, indicating a net loss of value. The upper bound on this ratio was as high as 1.8, meaning that liquidity providers incurred $180 in IL for every $100 worth of fees, leaving a net loss of $80.“Our core finding is that overall, and for almost all analyzed pools, impermanent loss surpasses the fees earned during this period,”
the study’s authors concluded.“Importantly, this conclusion appears broadly applicable; we have collected evidence that suggests both inexperienced retail users and sophisticated professionals struggle to turn a profit under this model.”
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Bingbon, a widely-known social trading and cryptocurrency platform, has successfully rebranded and revamped its corporate structure. Now called BingX, the company has built a reputable reputation as one of the leading copy trading platforms in the digital asset industry.With its new name, BingX plans to continue developing innovative social trading solutions. Through this, the acceleration of open value transfer and empowerment of an engaging and accessible crypto trading experience is made possible.Meanwhile, the social and crypto platform also revealed a fresh logo that embodies Bingbon’s legacy. It seeks to prophesize the next chapter of cryptocurrency trading while becoming the best place to enjoy an improved trading experience.BingX’s Communication Manager Elvisco Carrington further explained:A lot of thought processes and planning went into the creation of the name, BingX. It’s a name that resonates and is capable of transcending through time; one that can adapt to the ever-changing crypto climate and is easy for the international community to digest, especially for our target community – all kinds of users from beginners to crypto OGs.With licenses in North America, Australia, and other regions, BingX will continue promoting its pioneer trading feature. This lets users connect with expert traders and leverage smarter investment strategies.In addition, the social and crypto exchange is launching new trading pairs. Improvements, upgrades, and new innovative products are also in the works for an enhanced user expedition.Continue reading on CoinQuora More

Meanwhile, investors and traders are pouring money into decentralized finance (DeFi) projects, generating billions in trading fee revenue per year. According to a new study, half of them are losing money from a phenomenon called ‘Impermanent Loss’ on Uniswap V3.Bancor and Topaze.blue help a very thorough study of impermanent loss in Uniswap V3. To specify, Bancor is a decentralized liquidity protocol that offers a simple and safe way to trade crypto and earn yield on tokens.Meanwhile, Topaze.blue is a boutique advisory firm in the crypto and fintech space. In particular, their study shows that about half the users providing liquidity to the protocol are losing money when compared to holders.After finding that half of Uniswap V3 liquidity providers underperform a basic buy and hold strategy, researchers tried to understand whether some groups consistently outperform others. In detail, the study analyzed whether users who adjust their positions more often performed better than passive users who don’t.In other words, it means that the study found analytical data that users who adjust their positions more often performed better than users who don’t. Thus, the findings question the generally held belief that ‘active’ LPs outperform ‘passive’ LPs in Uniswap V3.Note that while Uniswap V3 generates the highest trading fees, impermanent loss overlooked the fee income in over 80% of the pools analyzed.Not to mention, Uniswap pools included in the analysis generated $199 million in trading fees and acquired $260 million in the impermanent loss. This leaves a net loss of over $60 million and 49.5% of LPs with negative returns.Continue reading on CoinQuora More

From nowhere, Shiba Inu’s (SHIB) presence has been so competitive with many strides of late, which garnered a substantial and spectacular user-based adoption in the crypto market.According to a report from WhaleStats today, presently, SHIB has made its way to the top by exceeding major tokens like Crypto.com’s native token CRO, OKB, and BEST. By fighting a good battle with the tokens, SHIB is now the biggest ERC-20 holding reigning among the top 1000 ETH wallets with a threshold value of $2,371,207,191.With this huge standing ovation and milestone covered, the WhaleStats warmly congratulated the ‘Shiba Arm’ community and said “The King is coming back!” again in the market stronger. Specifically, WhaleStats made the announcement on Twitter today about the SHIB’s current performance and also for topping the 1000 ETH wallets leaderboard.Just as how Shiba Inu’s price hype started, this time can rekindle such sensation again if SHIB continues to maintain what it’s currently performing. Furthermore, apart from CRO, OKB, and BEST, SHIB also outperformed lots of other heavyweight tokens. The market is excited about Shiba Inu.Continue reading on CoinQuora More