In normal times, April marks for many the beginning of spring. It’s the month where we start venturing outside trying to get some Vitamin D.
This year, it’s all a bit different. Roughly half of the world’s population is under some sort of lockdown, which has had quite an impact on the traditional markets. It comes as no surprise that the economy would struggle as soon as millions of people lose their jobs and spending power declines. Demand for most goods that are not essential has rapidly declined with the negative crude oil futures price just being one indicator of how bad this crisis is going to be. Nevertheless, as soon as some glimmer of hope for treatment appears, stock markets rally again.
But what about crypto? At the beginning of the crisis in mid-march, bitcoin experienced a plunge of roughly 50% and critics were fast to point out, that it did not serve as the safe haven it was touted to be. Yet, will bitcoin prove the critics wrong? Within just the recent days, Bitcoin has recovered to levels seen before the crisis and is back trading above $9100. Other cryptocurrencies have followed suit with Bitcoin Cash up 7% in the last 24 hours.
This market downturn in April has not kept our exchange team from continuing to work on bringing new tokens and activities to our exchange.
1,000,000 SPICE Trading Competition
For the second week of April, we hosted a Trading Competition with 1,000,000 SPICE Prize Pool for all SPICE traders on our exchange.
On top of that, we gave away 20,000 SPICE for traders that deposited SPICE during the competition. Want to learn more about SPICE? Check out this video.
On April 9th we listed the native token of the Social Trading Platform HedgeTrade: HEDG on our exchange. HedgeTrade is working on making predictions from experienced traders available to newbies with a sophisticated blockchain-based social trading platform that works with smart contracts to establish trust. To learn more about HedgeTrade, have a look at our introductory blog post.
One week later on April 16th, we listed two tokens from Reserveprotocol: their stablecoin RSV and their governance token RSR. Reserveprotocol is on a mission to build a reliable and fully decentralized stablecoin, that’ll be easy to use even for non-crypto consumers. Their stablecoin RSV is complemented by the governance token RSR, which can be used to vote on governance proposals on the platform. Learn more here.
$100 Daily Rewards for our Top Traders
At the end of the day, an exchange like us lives from their community of traders.
To give back, we hosted a daily reward event, where the top trader would receive $100 from April 17th until April 19th.
All winning traders have already been paid out.
2,000,000 RSR Trading Competition
For the last week of April, we’re hosting a trading competition with a prize pool of 2,000,000 RSR which will go to the top 3 traders.
The competition is running from April 26th until May 2nd. You can find all the details on how to participate here. Happy Trading!