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GCEX becomes latest member on Crossover Markets venue as part of new institutional spot cryptocurrency trading partnership – The TRADE

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GCEX becomes latest member on Crossover Markets venue as part of new institutional spot cryptocurrency trading partnership – The TRADE

Digital brokerage GCEX and digital asset technology firm Crossover Markets Group have announced a partnership designed to expand current institutional spot cryptocurrency trading capabilities.

As part of the deal, GCEX has become the latest venue participant on Crossover’s execution-only crypto electronic communication network (ECN), CROXXx ECN.

GCEX will provide access to its brokerage and liquidity services for spot trading. GCEX clients will gain access to the liquidity pool.

 “With the increasing demand for digital assets, we are delighted to be partnering with Crossover, providing even greater opportunities for our institutional clients to access deep liquidity in digital assets,” said Lars Holst, founder and CEO at GCEX.

Crossover’s ECN platform has seen several developments over the last year – including news in August that Cboe Digital had become the first firm to clear the venue.

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“We are excited to welcome GCEX to the CROSSx ECN as our newest venue participant,” said Anthony Mazzarese, co-founder and chief commercial officer at Crossover Markets.

“Crossover’s focus on speed, throughput and operational efficiency will help GCEX achieve tighter spreads and a lower cost to trade across their client base of institutional and professional investors, and this partnership will further enhance spot crypto liquidity.”

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CoinW’s City Ambassador Program: Empowering African Communities Through Cryptocurrency Education and Entrepreneurship

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CoinW’s City Ambassador Program: Empowering African Communities Through Cryptocurrency Education and Entrepreneurship

LAGOS, Nigeria, Feb. 29, 2024 /PRNewswire/ — CoinW, a prominent global cryptocurrency platform with a user base exceeding 7 million, has made significant strides in its commitment to fostering cryptocurrency education and entrepreneurship within the African market. Recently, CoinW has unveiled its impactful Africa City Ambassador Program.

CoinW’s Commitment to Africa

The CoinW’s deep involvement in local economies across key African countries, including Nigeria, Ghana, Tanzania, Cameroon, Kenya, and others, has not only facilitated accessibility to digital assets but has also been instrumental in educating and empowering local populations with new knowledge and opportunities. This localization efforts have been pivotal in engendering understanding and engagement with cryptocurrency among local populations, marking a vital step forward in the continent’s embrace of digital assets.

Fostering Mutual Growth

CoinW’s past success of the program cooperated with local people is set to revolutionize the landscape of entrepreneurship and cryptocurrency education in African communities.

In line with its commitment to building mutually beneficial partnerships, CoinW has implemented a unique “win-win” model in collaboration with African local communities. This approach underscores CoinW’s dedication to not only advancing its own interests but also to bolstering economic development in African regions. A prime example of this commitment is the introduction of the City Ambassador Program, aimed at empowering local entrepreneurs and fostering cryptocurrency education.

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Advantages of the City Ambassador Program

The City Ambassador Program stands as a beacon of opportunity and growth for individuals across African communities. Ambassadors are provided with fixed payments, performance-based rewards, vocational training opportunities, public recognition, and generous financial support to kickstart their entrepreneurial endeavors. This pioneering initiative welcomes passionate individuals willing to explore new business prospects and acquire valuable knowledge, ultimately fostering an environment of learning and economic empowerment.

By nurturing a culture of entrepreneurship and equipping locals with the necessary tools for success, CoinW aims to leave a lasting positive impact on local economies and societies. The City Ambassador Program serves as a testament to this commitment, solidifying CoinW’s role as a catalyst for growth and development across the continent.

CoinW’s expansion into the African market, coupled with the innovative City Ambassador Program, exemplifies the platform’s unwavering commitment to fostering financial inclusion, economic growth, and knowledge dissemination. As CoinW continues on this journey, they are immensely proud of the strides and is excited for the future opportunities that await both CoinW and the vibrant communities they serve.

https://linktr.ee/CoinWAfrica 

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CONTACT: [email protected] 

Photo – https://mma.prnewswire.com/media/2351144/Empowering_Africa_CoinW.jpg

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Cryptocurrency Price Today: Bitcoin Touches $64,000 For The First Time Since November 2021

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Cryptocurrency Price Today: Bitcoin Touches $64,000 For The First Time Since November 2021

Bitcoin (BTC), the oldest and most valued cryptocurrency in the world, briefly touched the $64,000 mark for the first time since November 2021, before settling down at around $62,500 early Thursday. The excitement among investors around BTC exchange-traded funds (ETF), which saw a daily trading volume of over $7.7 billion, is driving the latest rally. Other top coins, including the likes of — Ethereum (ETH), Dogecoin (DOGE), Solana (SOL), Ripple (XRP), and Litecoin (LTC) — saw notable gains across the board. Memecoin BONK emerged to be the biggest gainer of the lot, with a 24-hour jump of over 56 percent. Bitget Token (BGB) became the biggest loser, with a 24-hour dip of nearly 6 percent. 

The global crypto market cap stood at $2.29 trillion at the time of writing, registering a 24-hour gain of 6.42 percent.

Bitcoin (BTC) Price Today

Bitcoin price stood at $62,538.10, registering a 24-hour gain of 9.37 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 54 lakh.

Ethereum (ETH) Price Today

ETH price stood at $3,268.95 marking a 24-hour gain of 1.20 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 2.99 lakh.

Dogecoin (DOGE) Price Today

DOGE registered a 24-hour jump of 5.41 percent, as per CoinMarketCap data, currently priced at $0.09517. As per WazirX, Dogecoin price in India stood at Rs 10.99.

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Litecoin (LTC) Price Today

Litecoin saw a 24-hour dip of 0.83 percent. At the time of writing, it was trading at $74.32. LTC price in India stood at Rs 6,999,79.

Ripple (XRP) Price Today

XRP price stood at $0.5816, seeing a 24-hour jump of 4.61 percent. As per WazirX, Ripple price stood at Rs 51.

Solana (SOL) Price Today

Solana price stood at $122.69, marking a 24-hour dip of 1.05 percent. As per WazirX, SOL price in India stood at Rs 9,991. 

Top Crypto Gainers Today (February 29)

As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:

Bonk (BONK)

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Price: $0.00002142
24-hour gain: 56.47 percent

JasmyCoin (JASMY)

Price: $0.02259
24-hour gain: 38.69 percent

Dogecoin (DOGE)

Price: $0.1253
24-hour gain: 31.29 percent

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Shiba Inu (SHIB)

Price: $0.00001325
24-hour gain: 22.18 percent

Aptos (APT)

Price: $12.32
24-hour gain: 22.14 percent

Top Crypto Losers Today (February 29)

As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:

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Bitget Token (BGB)

Price: $0.9495
24-hour loss: 5.35 percent

ApeCoin (APE)

Price: $1.90
24-hour loss: 4.87 percent

Pyth Network (PYTH)

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Price: $0.6594
24-hour loss: 4.83 percent

Dymension (DYM)

Price: $6.04
24-hour loss: 4.36 percent

Theta Network (THETA)

Price: $1.90
24-hour loss: 4.25 percent

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What Crypto Exchanges Are Saying About Current Market Scenario

Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin climbed above the $63,000 level in the past 24 hours gaining 7%. This surge is attributed to the ten spot Bitcoin ETFs in the US registering a new daily record by surpassing the $7.7 billion trading volume as retail investors jump on crypto rally. BlackRock’s Bitcoin ETF traded $3.3 billion on Wednesday, twice as much as its previous volume record. Bitcoin surged over 50% on a year-to-date surpassing the $60,000 threshold level for the first time since Nov 2021. Currently, Bitcoin is trading at the $61,000 level and is eyeing $65,000. If this momentum continues, it is likely that Bitcoin will beat its previous all-time high soon.”

CoinSwitch Markets Desk noted, “In the last 24 hours, unprecedented volumes were seen in Bitcoin spot ETFs with a total of $7.5 billion being traded, doubling the previous record as BTC hit an all-time high in the Indian markets. Bitcoin is now up by more than 44% in February which is the highest monthly move since December 2020. All Indian investors who had previously invested in Bitcoin are now in a profitable position with the market sentiment slowly moving towards the ‘extreme greed’ category. A glimpse of what might happen if you are too late was visible yesterday. After BTC reached $64k, there was a sudden dip due to sudden profit booking and BTC’s price fell below $59k within minutes, causing close to $200 million worth of liquidations within just one hour. Simultaneously, the world’s largest fiat-based exchange Coinbase went down for a bit.”

Rajagopal Menon, Vice President, WazirX, said, “Bitcoin’s volatile ride saw a sudden 7% plunge from its $64,000 peak, causing chaos for leveraged traders. After briefly soaring above $60,000 for the first time since November 2021, BTC dropped to $59,400, rebounding to $61,587. The major cryptos, including ETH, SOL, XRP, ADA, DOGE, and AVAX, also faced 4% to 9% declines within an hour. The market turmoil led to $700 million in liquidations, marking the most significant wipe-out since last August. Despite the crypto carnage, spot bitcoin ETFs, notably BlackRock’s IBIT, experienced record-breaking volumes, reaching $3.3 billion.”

Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “Bitcoin’s bullish trajectory extends to its performance against the Indian Rupee (INR), with key resistance levels identified at $61,544, $64,848, and $68,242, mirroring its USD counterpart. Notably, the INR’s previous ATH is also surpassed, indicating broader market strength. Support levels at $54,425, $52,597, and $47,572 offer stability against pullbacks, while the RSI at 85 suggests heightened buying pressure, warranting caution for potential corrections. The formation of the “three white soldiers” candlestick pattern and the INR’s upward trendline support reinforce bullish sentiment, augmented by the 50-day EMA at $47,818. Breaking resistance at $61,500 could signal continued bullish momentum, emphasizing careful monitoring amid potential fluctuations despite overall positive market sentiment.”

Shivam Thakral, CEO of BuyUcoin, said, “Bitcoin has gained more than 10% in a day, briefly touching $64,000 for the first time since November 2021. The cryptocurrency price is one step closer to its all-time high as Bitcoin ETFs broke their trading volume record with a huge day at $7.69 billion. Blackrock’s iShares Bitcoin Trust, IBIT, broke its own trading volume records at $3.3 billion. Ethereum hasn’t matched the pace of Bitcoin but is steadily rallying, crossing $3,400. It may be possible to see a new all-time high in Bitcoin before halving this year.” 

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CoinDCX Research Team told ABP Live, “BTC surged to $64,000, nearing its all-time high, while ETH reached $3,400, marking new highs for the year. This rally is driven by historical trends before halving events, strong inflows into BTC spot ETFs, and support from major institutions. Following its ascent to $64,000, BTC experienced a rapid drop to $59,000, triggering high-leverage liquidations on both sides. It has since stabilized above $61,500. This volatile movement led to liquidations in altcoins as well. BTC’s stability is crucial for altcoins to regain momentum. The next key levels for BTC are $65,000-$66,000, followed by its all-time high at $69,000. Despite attempting to breach the $3,500 level, ETH underperformed BTC as the ETH/BTC pair weakened. Currently, ETH is holding slightly above $3,400.”

Subscribe And Follow ABP Live On Telegram: t.me/officialabplive

Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Cryptocurrency is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Cryptocurrency market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.

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Coinbase Fixing ‘Outages’ After Users Report Seeing $0 Account Balances During Bitcoin Rally

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Coinbase Fixing ‘Outages’ After Users Report Seeing $0 Account Balances During Bitcoin Rally

Topline

Coinbase, the largest cryptocurrency exchange in the U.S., experienced significant outages and errors that caused some user accounts to show a $0 balance and prevented some users from logging in at all on Wednesday afternoon—shortly after bitcoin’s value rose above $60,000, its highest mark since 2021.

Key Facts

Users began reporting the outages around 12 p.m., shortly after bitcoin’s historic rally.

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Coinbase told Forbes in a statement that customers can now log in to the exchange once again, but users are still reporting errors in sending and receiving funds, as well as errors with “some payment methods.”

Coinbase confirmed that “some users may see a zero balance across their Coinbase accounts & may experience errors in buying or selling,” but assured users that their assets were safe.

Shortly after 3 p.m. on Wednesday, Coinbase CEO Brian Armstrong announced in a post on X, formerly known as Twitter, that the platform’s “apps are now recovering.”

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The CEO said the outages were likely caused by a large surge of traffic following the bitcoin news Wednesday morning, noting that the exchange was prepared for a surge in use, but traffic still exceeded their expectations.

Key Background

Bitcoin has had a remarkable comeback in 2024. After reaching an all-time peak value of about $68,000 in November 2021, a series of crashes caused the cryptocurrency’s value to plummet. The cryptocurrency was valued at less than $16,000 by November 2022. In January 2024, the Securities and Exchange Commission approved spot bitcoin exchange-traded funds, allowing investment firms like Fidelity and BlackRock to offer customers investment vehicles that track the price of bitcoin. Bitcoin reached $57,000 on Tuesday and rose 7% higher on Wednesday to $61,000—the first time the coin has been valued over $60,000 since 2021. After reports of the Coinbase outages began circulating on social media on Wednesday, Bitcoin lost about $2,800 in value it gained the same day, CNBC reported.

Further Reading

MORE FROM FORBESBitcoin Tops $60,000-First Time Since 2021
MORE FROM FORBESSEC Approves Spot Bitcoin ETFs-First Crypto Funds Of Kind

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