A new social platform has launched for the cryptocurrency community.
Cryptowatch, a charting and trading terminal for cryptocurrency markets, is behind Cryptowatch Social, which claims to be the first social platform designed to cultivate a crypto community built on trust and transparency.
“Over the past 10 years, a community of cryptocurrency holders and traders from around the world have developed a uniquely rich culture where members swap tips, share information and crack jokes,” the company said.
“Unfortunately, bad actors can easily spam, scam, spread FUD and mislead crypto holders into parting with hundreds of millions of dollars worth of cryptocurrencies.”
Cryptowatch Social claims to enable anyone with an interest in crypto to easily determine who they can trust.
Features include exchange account integration, so creators can share their portfolio to build trust, allowing followers to easily verify if the creator holds the digital assets they claim to own or made the trade they said they made.
“Our goal is to make Cryptowatch Social the discussion centre of the crypto world,” Artur Sapek, founder and director of engineering at Cryptowatch, said.
“We are building the ultimate all-in-one crypto mobile app where traders can watch markets, manage their portfolio, and learn from each other.”
Cryptowatch was founded in 2014 as the all-in-one interface for crypto holders to scan prices, analyse market movements and make trades on every major exchange.
The new platform will provide new social features such as cashtags, watchlists, live idea feeds and chart sharing, so they can better participate and engage with the crypto community overall.
These features will be showcased when Cryptowatch live streams Crypto Fight Week and its accompanying activities. Anyone who registers for a Cryptowatch account will be free to watch all of the events through the mobile app and website including the seven boxing matches featuring prominent crypto traders on 12th November.
The viewing audience will have the opportunity to participate in a number of live giveaways, raffles and social activities as they enjoy the bouts and the main event headlined by Ponzi Trader and Trading Lord.
The crypto community can engage in live discussions in the same interface as their charting screens and watch the festivities at http://cryptowat.ch/live.
In Crypto: New monetary system allows users to spend ‘digital gold’
Wirex launches dual-asset yield-earning tool
Wirex has launched a dual-asset high yield-generating tool that claims to earn users up to 200% returns.
The crypto wealth and payment platform says DUO will provide guaranteed yield paid in crypto.
DUO allows Wirex’s five million customers to earn the difference in market price from a trading pair over a certain duration, where they’ll be paid out in one of the two currencies plus the yield.
Customers can choose the pair of tokens, period of time and amount locked, and open multiple DUOs at once. It offers higher returns to customers choosing to lock more for less time, and has no usage fees.
Last year Wirex developed X-Accounts, where users can earn up to 20% AER (annual equivalent rate) on their funds, with no minimum amount, and no maintenance or lock-up fees.
In July it introduced Wirex Credit, claiming to offer competitive interest rates with no origination fee for crypto-backed loans of up to $100,000.
Cryptocurrency shorts
Singapore-based crypto exchange Crypto.com has passed 70 million users and generated more than a billion dollars in revenue for the second successive year.
Binance, which contributed $500 million to Elon Musk’s Twitter buyout, will use the social media platform as a ‘sandbox’ to deal with Web3 issues, the exchange’s chief strategy officer Patrick Hillman told CoinDesk.
Chinese crypto exchange Huobi Global is planning to join FTX in moving its headquarters to the crypto-friendly Caribbean.
Microsoft gaming chief Phil Spencer has called the metaverse a “poorly built video game” while Snap CEO Evan Spiegel agrees that the current concepts are basic and not very inviting.
Visa has announced a charity auction alongside Crypto.com for five NFTs ahead of the upcoming World Cup in Qatar. The digital artwork, which will benefit Street Child United, is inspired by iconic goals from Michael Owen, Jared Borgetti, Tim Cahill, Carli Lloyd and Maxi Rodriguez.
Find Satoshi Lab, the company behind move-to-earn app StepN, has launched its new NFT marketplace named MOOAR. Going against the industry trend, it does not include an option for 0% royalties: creators can set their own royalty rate.
NiftyApes, a lending protocol that enables loans on any NFT or collection, has raised $4.2 million in a seed round led by Variant and Fintech Collective, and featuring Robot Ventures, Polygon, Coinbase Ventures, The LAO, FlamingoDAO, Ryan Sean Adams, David Hoffman, Eric Conner, Anthony Sassano, Cyrus Younessi, DC Investor, James Young, James Duncan, Nadav Hollander, Brendan Forster as well as the founders of SuperRare and Rarible. NiftyApes making lenders compete to provide the best terms throughout the loan period.
Crypto prices
The overall market cap of the 21,600 coins is at $1.02 trillion at the time of writing (7am UK), a 1% decrease in the last 24 hours.
For round-ups of recent cryptocurrency news developments, click here.
For valuations of the top 100 coins by market cap in US dollars, plus 24-hour price change, see below.