The Newsletter by Tokenize Xchange (Vol.135| May 2021)

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By Tokenize Xchange
June 21, 2021

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Crypto Earn Stake Cut Down by 90%!

We are pleased to announce that starting from 7th May 2021, 12 AM SGT, our users can now earn greater interest by depositing in Crypto Earn with just 100TKX. The amount is 10 times less than the original stake of 1,000TKX.

Users who have previously staked 1,000TKX, will be able to withdraw the 900TKX into your main wallet manually.

Our Crypto Earn acts as a digital wallet that allows you to keep your crypto safe while still earning the APY up to 12%. How to join here.

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Higher APYs in Crypto Earn. Expiration Date: None.

  • APYs without staking TKX of 4% increase to 5%
  • APYs with staking TKX of 7% increase to 8%

Our Crypto Earn acts as a digital wallet that allows you to keep your crypto safe while still earning the APY up to 12%. How to join here.

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New Listing: NEO

NEO is a smart contract platform, similar to Ethereum, that was created by a team of developers in China and was formerly known as Antshares. It was designed to utilize “blockchain technology to digitize assets using smart contracts and common programming language”. The platform was created by Da Hongfei and Erik Zhang. It has the ability to process 10,000 transactions per second. It enables two types of tokens: NEO and GAS.

NEO is not a currency or asset, but a proxy for voting rights within the blockchain governance system. GAS is an operational token to be used for transactions and smart contracts.

NEO price at press time is $99.01 with a 24-hour trading volume of $1,849,313,837. NEO price is down -2.0% in the last 24 hours. It has a circulating supply of 71 Million NEO coins and a max supply of 100 Million.

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Ether, Dogecoin Soar

Data from Cointelegraph Markets Pro and TradingView followed ETH/USD as the pair broke through its latest historic boundary and continued climbing.

At the time of writing, the largest altcoin by market capitalization was in pure price discovery mode as it sought resistance above $3,500.

The week had already seen new highs for Ether’s price on a daily basis, with seven-day gains standing at 36%.

Among analysts and traders alike, the sense of excitement on the day was palpable.

“I have been calling for $3600 $ETH for well over a month, but think it can go much higher,” Scott Melker told Twitter followers.

Short-term price targets have called for $5,000, and while zooming out, $10,000 and even $20,000 are not unheard of targets, as Ether has outperformed Bitcoin (BTC) in U.S. dollar gains throughout the past year.

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Winklevoss calls Dogecoin “the people’s money”

Discovery of a new price ceiling was likewise still in progress at the time of writing, with DOGE/USD taking out $0.55 on the back of 38% daily gains.

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The move came as major exchange Gemini announced that it had integrated support for Dogecoin, a day after trading platform eToro announced the same.

“Dogecoin is the people’s money. It’s organic, irreverent, and fun,” co-founder Tyler Winklevoss commented.

Bitcoin predictably felt the heat from the altcoin advance, shedding both market dominance and price strength to near $55,000 for the second time in 24 hours.

Bitcoin Faces Resistance at $58K

  • BTC held support around the 50-period volume-weighted moving average on the four-hour chart, similar to April 29, which preceded a near 10% price rally.
  • However, a pattern of lower highs on the four-hour relative strength index (RSI) suggests continued selling on rallies.
  • Bitcoin returned below the 50-day moving average and has traded within a tight range since the April 17 sell-off. Lower support is seen around $52,000 which could settle additional profit-taking.

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EBay CEO Hints at Crypto Payments, NFT Sales

It could preview the online auctioneer’s return to crypto since abandoning Facebook’s Libra stable-coin project in 2019.

Iannone cited crypto as one form of new payment rails eBay is considering but did not give any specifics. He also said eBay is looking at how to get into the non-fungible token (NFT) game.

EBay has long sanctioned customers’ on-platform sales of bitcoin (BTC, -3.02%) but previously balked at transactions conducted in crypto. Similarly, many NFT owners attempt to auction their digital collectibles over eBay, though transfer occurs off-platform.

“We are currently looking at a number of ways to innovate in this space and we are excited about the underlying capabilities and how blockchain-driven collectibles bring trust and authenticity, key components of a marketplace, to the digital space,” an eBay spokeswoman said in an emailed statement.

Looking at crypto does not equal supporting it, however. Former eBay CEO John Donahue said in 2014 the company was “actively considering” bitcoin integration with then-subsidiary PayPal.

That pledge went nowhere on eBay’s end. Meanwhile, PayPal, now its own company, is gearing up to support limited merchant payments in bitcoin

“We have no immediate plans, but it is something we are keeping an eye on,” the spokeswoman said of crypto payments.

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Cryptocurrencies are subjected to high market risk and volatility despite high growth potential. Users are strongly advised to do their research and invest at their own risk.

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