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LBank Exchange Will List Future of Fintech (FOF) On July 15, 2022

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Lbank Exchange Will List Future Of Fintech (Fof) On July 15, 2022

LBank Exchange, a global digital asset trading platform, will list Future of Fintech (FOF) on July 15, 2022. For all users of LBank Exchange, the FOF/USDT trading pair will be officially available for trading at 14:00 (UTC+8) on July 15, 2022.

As one of the most versatile cryptocurrency tokens, Future of Fintech (FOF) plays a key role in multiple projects under the FOF GROUP, including the financial business, DeFi, eCommerce, and metaverse projects. The FOF tokenwill be listed on LBank Exchange at 14:00 (UTC+8) on July 15, 2022, to further expand its global reach and help it achieve its vision.

Introducing FOF GROUP

FOF GROUP is a comprehensive group integrating the development and operation of cryptocurrency, foreign exchange, futures, smart contracts, blockchain, etc. There are currently four foundation projects under FOF GROUP, including financial business by Ngel Foundation Malaysia, decentralized platform business and metaverse project by Mindvirus Foundation Korea, and shopping mall/payments by Ngel Foundation Korea.

FOF coin will be the key currency on all platforms and trading in the Ngel ecosystem: FOF Coin is a financial coin that supports the transaction of the following products through ngelpartners.com.

  • CFD
  • Cryptocurrency trading
  • Futures trading
  • Stock trading
  • Forex trading

It also has a system that allows users to share profits generated through financial business by holding FOF coins and participating in mining through fofmine.com.NGEL partners have a license for multiple financial operations.The Malaysia Labuan Financial Services Authority issued the Cryptocurrency and Financial Businesses license.

Ngel Partners Financial Platforms

NGEL partners have a license for multiple financial operations, including the following:

  • Asset management
  • FX & CFD arbitrage
  • Cryptocurrency trading and Token Issuance
  • Copy-trading
  • Futures trading
  • Options trading
  • Derivatives education business

The financial platforms for Ngel partners are already in operation. These platforms include FX trading, copy trading, and cryptocurrency derivatives trading. Each platform will integrate the FOF coin as the key circulation coin.

The decentralized platform project will be operated by the Mindvirus Foundation and use BSC as the vital currency mined. FOF GROUP’s native token Future of Fintech (FOF) will act as the primary cryptocurrency of exchange on the platform. FOF coin holders will also receive a portion of the proceeds generated by the platform, like a shareholder.

Moreover, FOF coin will be accepted as a form of payment in many online shopping sites through the partnership of various payment companies, including MASTER and UNION cards. A membership card that will bring added benefits for eCommerce shoppers is also planned for the future release.

Last but not least, as the metaverse becomes the backbone of the Web 3.0 movement, the FOF project is preparing one of the most ambitious projects on the online experience. The metaverse will feature fully realized avatars, virtual real estate, virtual stock trading, cryptocurrency exchange, real-world assets trading, and online games. FOF coin will also play a central role in this upcoming metaverse project.

The FOF project, including derivatives, DeFi, Metaverse, NFT, and PSP (Payment service provider), is expected to be one of the most comprehensive projects. Backed by an experienced team with a finance, blockchain, and marketing background, FOF will be one of the most ambitious projects in the cryptocurrency space.

About FOF Token

Future of Fintech (FOF) can be used to exchange tokens for all projects under the FOF GROUP, including the financial business, DeFi, eCommerce, and metaverse projects. As the project grows, there will be more and more applications for the FOF coin. It will, in turn, generate more profits to sustain and grow the project and compensate FOF coin holders.

Based on BEP-20, FOF has a total of 200 million (i.e. 200,000,000) tokens. It will be listed on LBank Exchange at 14:00 (UTC+8) on July 15, 2022, investorswho are interested in Future of Fintech investment can easily buy and sell FOF token on LBank Exchange by then. The listing of FOF on LBank Exchange will undoubtedly help it further expand its business and draw more attention in the market

Learn More about FOF Token:

About LBank Exchange

LBank Exchange, founded in 2015, is an innovative global trading platform for various crypto assets. LBank Exchange provides its users with safe crypto trading, specialized financial derivatives, and professional asset management services. It has become one of the most popular and trusted crypto trading platforms with over 7 million users from now more than 210 regions around the world.

Start Trading Now:lbank.info

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Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this press release does not represent any investment advice. TheNewsCrypto recommend our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this press release.

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TA- The Price Of Axie Infinity Struggles Despite Crypto Relief Rally

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Ta- The Price Of Axie Infinity Struggles Despite Crypto Relief Rally

The price of Axie Infinity (AXS) has struggled recently with a few bullish signs against Tether (USDT) despite market sentiments around the project.

As a result of the “Merge” sentiments, this has led to many altcoins showing relief rallies and newer altcoins making all-time highs; the price of Axie Infinity has struggled to rally despite many expectations on AXS holders.

The Merge is an upgrade on the Ethereum network from Proof-Of-Work (POW) to Proof-Of-Stake (POS) to increase its network efficiency in transactions. (Data feeds from Binance)

Axie Infinity (AXS) Price Analysis On The Weekly Chart

Weekly AXS Price Chart | Source: AXSUSDT On Tradingview.com

From the chart, the price of AXS saw a weekly low of around $14.2, which bounced from that area and rallied to a price of $18.

The price has built more momentum as it faces resistance at $19.3.

If the price of AXS on the weekly chart continues with this structure, it could quickly revisit $18, acting as a good support area for buy bids.

Weekly resistance for the price of AXS – $19.3.

Weekly support for the price of AXS – $14.

Price Analysis Of AXS On The Daily (1D) Chart

1660424244 355 Ta The Price Of Axie Infinity Struggles Despite Crypto Relief
Daily AXS Price Chart | Source: AXSUSDT On Tradingview.com

The price of AXS found strong support at around $17.5, which seems to be an area of interest on the daily chart.

AXS bounced from its support and has rallied as it faces resistance at $19.3. The price of AXS has continued to range in a channel; breaking out of this channel could send the price of AXS to $28.

At the point of writing, the price of AXS is $19.27, above the 50 Exponential Moving Average (EMA) with a price of $17.5.

If the price of AXS holds the support of $17.5 successfully, we could see the price trending higher with a successful breakout of the channel; if the price of AXS gets rejected, $17.5, which corresponds with 50 EMA, will be good support for buys.

The Relative Strength Index (RSI) for the price of AXS on the daily chart is above 55, indicating healthy buy bids for AXS.

Daily (1D) resistance for AXS price – $19.3.

Daily (1D) support for AXS price – $17.5.

Price Analysis OF AXS On The Four-Hourly (4H) Chart

1660424244 450 Ta The Price Of Axie Infinity Struggles Despite Crypto Relief
Four-Hourly AXS Price Chart | Source: AXSUSDT On Tradingview.com

The price of AXS has continued to range in a channel having resistance at $19.3. 

AXS is trading above the 50 and 200 EMA with prices of $18.4 and $17.3, acting as its support on the 4H chart should the price of AXS gets rejected due to the weekend sell-off.

If the price of AXS holds above the support of 18.4 with the good volume, we could see prices trending and breaking out of the range channel. If AXS experiences a sell-off, 50 and 200 EMA prices would support AXS prices.

Four-Hourly (4H) resistance for AXS price – $19.3.

Four-Hourly (4H) support for AXS price – $18.4, $17.3.

Featured image from Coin News, Charts from TradingView.com 
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Tornado Cash Linked Sanctioned Addresses Blocked by Aave

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Firms Start Complying Following U.s Sanction On Tornado Cash
  • Reputable ENS addresses apparently got 0.1 ETH from sanctioned addresses.
  • A Tornado Cash developer was apprehended in the Netherlands yesterday.

The Office of Foreign Assets Control (OFAC) of the United States Treasury Department has sanctioned crypto mixer Tornado Cash, dealing a blow to the crypto sector. Several Twitter users have reported that the major DeFi lender Aave has begun banning addresses linked to Tornado Cash.

Reputable ENS addresses apparently got 0.1 ETH from sanctioned addresses. Platforms like Uniswap, Aave, and Balancer within the DeFi ecosystem have responded by freezing Tornado Cash-funded accounts.

Aave has been blocking the wallet addresses of notable users including Justin Sun (Tron’s creator), Sassal0x, and Shixing Mao (co-founder of Cobo crypto custodian). Over 600 addresses, including those of famous people and centralized exchanges, have received 0.1 ETH from the Tornado Cash 0.1 ETH contract, as reported by PeckShieldAlert.

Decentralization at Risk?

Because several DeFi systems have blacklisted addresses, including Aave, Uniswap, Balancer, dYdX, Alchemy, and Infura, the concept of “decentralization in DeFi” has gained negative attention. Even popular websites like Discord and Github have discontinued the crypto mixer-related services.

It poses a serious threat to the concept of decentralization. These blockchain-centric businesses are not subject to any government oversight. The whole idea of decentralization is undermined when people freely share information or conform to the law without oversight.

Furthermore, a Tornado Cash developer was apprehended in the Netherlands yesterday. Since just the wallet’s interface is being banned by the Dapps, users may still access it by simply switching to a different front end. It is unclear, however, whether or not these addresses would be blocked by DeFi platforms’ smart contracts.

After the Office of Foreign Assets Control of the United States, Treasury Department put Tornado Cash on its Specially Designated National list, it was quickly forbidden by numerous businesses and organizations.

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Ethereum Market Observes Pileup Of Leverage As ETH Breaks $2k

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Ethereum Market Observes Pileup Of Leverage As Eth Breaks $2K

Data shows a large amount of leverage has been piling up in the Ethereum futures market as the price of the crypto breaks above $2k.

Ethereum Open Interest Surges To Highest Value In Last 4 Months

As pointed out by an analyst in a CryptoQuant post, the ETH futures market has seen the leverage sharply going up recently.

The “open interest” is an indicator that measures the total number of Ethereum futures contracts currently open in all derivatives exchanges.

When the value of this metric rises up, it means investors are opening up more positions on the market right now. Since more futures positions imply that leverage is also going up in the market, such a trend can lead to higher volatility in the price of the coin.

On the other hand, lowering values of the indicator suggest holders are closing up their positions at the moment. This kind of trend can result in a less volatile value of ETH.

Now, here is a chart that shows the trend in the Ethereum open interest over the course of 2022 so far:

Looks like the value of the metric has shot up in recent days | Source: CryptoQuant

As you can see in the above graph, the Ethereum open interest has observed some sharp uptrend during the past couple of weeks.

The indicator has now reached a value of 7.4 billion, the highest it has seen during the last four months. However, there is an interesting comparison here.

Around 4 months ago, when such values were previously observed, the price of ETH was about $3.3k. But today the price is just $2k, around $1.3k less than it was back then.

And yet, the open interest is at the same level, meaning the Ethereum market might be having the same degree of leverage this time as well, while the price is much lower.

When especially high leverage accumulates in the futures market, any sharp swing in the price can liquidate a large number of positions at once. These liquidations then further amplify this price move, which liquidates more positions.

In this way, liquidations can cascade together, and the event is called a “liquidation squeeze.” This is the reason behind the volatility of an overleveraged market.

If a long squeeze does end up taking place this time, then the latest rally in the value of ETH may hit the breaks.

ETH Price

At the time of writing, Ethereum’s price floats around $1.9k, up 5% in the past week.

Ethereum Price Chart

The value of ETH seems to have gone up during the last few days | Source: ETHUSD on TradingView
Featured image from Kanchanara on Unsplash.com, charts from TradingView.com, CryptoQuant.com
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Martin Shkreli’s New Token Drops 90%, Rug Pull Suspected

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North Korea Ranks Top In Crypto Crime As Per Recent Report