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Luno Partners With Genesis To Bring Crypto Interest Earnings

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Top crypto exchange, Luno has partnered with Genesis to give users the option to earn interest on their crypto holdings.

Genesis is a leading name in digital currency brokerage services, and Luno is one of the largest cryptocurrency exchanges in Africa. This partnership will provide institutional-level interest rates to Luno users on their crypto holdings. Further, it will be an exciting way for crypto users to access bank-like features, especially for users in emerging markets who are largely underbanked.

Genesis has firmly established itself as the first and largest institutional digital asset lender, with zero defaults across the history of its lending business.  

Genesis CEO Michael Moro noted, “We share Luno’s passion for making it safe and easy – across all segments of the market – to learn about, buy and store cryptocurrencies. By combining Genesis’s infrastructure with Luno’s footprint in more than 40 countries, we’re creating a fairer, more inclusive financial system by providing access to interest-bearing products to historically underbanked and unbanked populations.

We’re operating in a historical context where global fiat monetary policy has produced record low interest rates in traditional money market and savings accounts. The interest customers can earn on their crypto is compelling. It presents an opportunity to attract those unfamiliar with crypto, and to offer them a very clear value proposition.

Luno CEO Marcus Swanepoel, said, “Our partnership with Genesis allows us to offer more diversified financial products to our customers. We’re dedicated to providing innovative financial solutions to consumers all over the world – whether they are in Africa, Asia or Europe – regardless of their local currency. We specialise in making crypto safe and easy to use.

Digital currency investors have become increasingly sophisticated, seeking not just liquidity from exchanges, but also a competitive yield on their crypto assets,” said Leon Marshall, Head of Institutional Sales at Genesis. “Our global focus has helped us become the largest trading and lending firm in the digital asset space, and we are both privileged and excited to be working with a global leader like Luno.

Also, Luno integrated PayU payments for Nigerian users. This will allow users to make direct crypto purchases without making deposits first.

In March 2020, Luno reported its largest number of active users globally since April 2019 and saw a 25% increase in new customers from Q4 (2019) to Q1 (2020) in Africa.

Last month, we published an exclusive interview with the Luno team, exploring their move into the Ghanaian and Kenyan market. 

You should also read: Insights: After Reaching 4 Million Users, Luno Enters Kenya and Ghana Next

It will be interesting to see how existing users adopt the interest-earning feature and how new users utilize it too.

Source: https://blocknewsafrica.com/luno-partners-genesis-to-bring-crypto-interest-earnings/

Blockchain

Kraken Daily Market Report for September 24 2020

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Overview


  • Total trading volume at $237.5 million, as Bitcoin and other coins correct for yesterday’s losses and trended positively all day.
  • Very good returns across the board. LINK +29%, SNX +25%, and BAL +18%. Several cryptos had over 10% returns, and only DAI (a stable coin) posted margin losses.
  • Trading volume surged around 05:00, 10:00 and 15:00 UTC; however, none of these surges occurred around major price swings.

September 24, 2020 
 $237.5M traded across all markets today
 Crypto, EUR, USD, JPY, CAD, GBP, CHF, AUD 
XBT 
$10731. 
↑4.9% 
$113.9M
ETH 
$348.95 
↑8.9% 
$49.9M
USDT 
$1.0001 
↑0.07% 
$24.0M
LINK 
$9.8494 
↑29% 
$23.4M
DOT 
$4.3905 
↑9.4% 
$5.66M
XRP 
$0.2328 
↑5.2% 
$4.3M
USDC 
$1.0001 
↑0.0% 
$3.59M
XTZ 
$2.1528 
↑10% 
$3.17M
LTC 
$44.929 
↑4.6% 
$1.95M
BCH 
$216.25 
↑4.1% 
$1.55M
OXT 
$0.3025 
↑15% 
$1.16M
ETC 
$5.7974 
↑0.9% 
$1.16M
ADA 
$0.0826 
↑7.8% 
$1.1M
XMR 
$91.977 
↑5.6% 
$1.09M
SNX 
$4.625 
↑25% 
$1.08M
OMG 
$3.1119 
↑13% 
$975K
ATOM 
$4.4801 
↑17% 
$889K
EOS 
$2.5345 
↑3.9% 
$704K
ALGO 
$0.2943 
↑9.4% 
$700K
DAI 
$1.0110 
↓0.02% 
$648K
KAVA 
$1.9908 
↑4.5% 
$647K
TRX 
$0.0262 
↑5.8% 
$537K
PAXG 
$1879.1 
↑1.0% 
$515K
XLM 
$0.0704 
↑4.5% 
$459K
WAVES 
$2.3659 
↑9.1% 
$380K
ZEC 
$55.184 
↑6.5% 
$368K
MLN 
$32.272 
↑15% 
$327K
COMP 
$138.60 
↑8.9% 
$327K
XDG 
$0.0026 
↑3.3% 
$270K
REP 
$14.323 
↑10% 
$263K
ICX 
$0.4135 
↑12% 
$236K
BAT 
$0.2260 
↑6.1% 
$235K
QTUM 
$2.3184 
↑6.7% 
$209K
KNC 
$0.9387 
↑9.3% 
$186K
KSM 
$36.864 
↑11% 
$161K
SC 
$0.0026 
↑6.0% 
$148K
GNO 
$41.569 
↑9.0% 
$147K
DASH 
$67.884 
↑4.8% 
$140K
NANO 
$0.7512 
↑11% 
$127K
CRV 
$0.9915 
↑12% 
$124K
LSK 
$1.2075 
↑7.3% 
$84.0K
BAL 
$15.420 
↑18% 
$70.9K
STORJ 
$0.3379 
↑11% 
$58.2K
REPV2 
$14.349 
↑13% 
$42.0K



#####################. Trading Volume by Asset. ##########################################

Trading Volume by Asset


The figures below break down the trading volume of the largest, mid-size, and smallest assets. Cryptos are in purple, fiats are in blue. For each asset, the chart contains the daily trading volume in USD, and the percentage of the total trading volume. The percentages for fiats and cryptos are treated separately, so that they both add up to 100%.

Figure 1: Largest trading assets: trading volume (measured in USD) and its percentage of the total trading volume (September 24 2020)



Figure 2: Mid-size trading assets: (measured in USD) (September 24 2020)



Figure 3: Smallest trading assets: (measured in USD) (September 24 2020)



#####################. Spread %. ##########################################

Spread %


Spread percentage is the width of the bid/ask spread divided by the bid/ask midpoint. The values are generated by taking the median spread percentage over each minute, then the average of the medians over the day.

Figure 4: Average spread % by pair (September 24 2020)



.


#########. Returns and Volume ############################################

Returns and Volume


Figure 5: Returns of the four highest volume pairs (September 24 2020)


Figure 6: Volume of the major currencies and an average line that fits the data to a sinusoidal curve to show the daily volume highs and lows (September 24 2020)



###########. Daily Returns. #################################################

Daily Returns %


Figure 7: Returns over USD and XBT. Relative volume and return size is indicated by the size of the font. (September 24 2020)



###########. Disclaimer #################################################

The values generated in this report are from public market data distributed from Kraken WebSockets api. The total volumes and returns are calculated over the reporting day using UTC time.

Source: https://blog.kraken.com/post/6433/kraken-daily-market-report-for-september-24-2020/

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New Zealand Digital Asset Exchange Dasset Adds Bitcoin SV Support

The exchange has added support and two new trading pairs for Bitcoin SV.

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New Zealand digital asset exchange, Dasset, recently announced that it has officially introduced support for Bitcoin SV (BSV) on its trading platform, with the BSV/NZD and BSV/BTC trading pairs now listed and available for use on the exchange.

According to a statement from the exchange on Thursday, Dasset has decided to launch the two new trading pairs, including a fiat currency trading pair for BSV, following the continued growing interest in Bitcoin SV.

The Most Diverse Audience to Date at FMLS 2020 – Where Finance Meets Innovation

The SV in Bitcoin SV stands for Satoshi Vision, with the virtual currency marketing itself as the “original Bitcoin” which stays true to the goals of pseudonymous founder Satoshi Nakamoto. The crypto was born following Bitcoin Cash suffering a hard fork in 2018.

The main aim of the virtual currency is to deliver stability and achieve scalability. According to the project’s website, “Bitcoin SV is intended to provide a clear choice for miners and allow businesses to build applications and websites on it reliably.”

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Jimmy Nguyen, President of the Bitcoin Association
Jimmy Nguyen, President of the Bitcoin Association and BitcoinSV advocate.

Commenting on the changes at Dasset, Jimmy Nguyen, Founding President of Bitcoin Association said in the statement: “A key element in ensuring that the Bitcoin SV growth story continues across the globe is making the process of onboarding new users a fast and simple process. 

“With the introduction of a new fiat on-ramp to buy and sell BSV at Dasset, that process just got easier for people across New Zealand and Australia, who now have another reputable, lawfully-registered service provider to use as an onboarding option into the Bitcoin SV ecosystem.”

Dasset launched BSV to give users choice

Founded in 2017, Dasset is a digital asset trading platform serving retail, professional and institutional customers in New Zealand and Australia. The company is registered as a Financial Service Provider in New Zealand, however, it’s not regulated by the Financial Markets Authority (FMA) as the country does not yet have specific crypto legislation.

CEO of Dasset Stephen Macaskill
CEO of Dasset Stephen Macaskill
Source: LinkedIn

“Cryptocurrency has always been a battle of ideas,” added the CEO of Dasset Stephen Macaskill in the statement. “We recently listed Bitcoin SV to give customers the opportunity to discover, and ultimately decide, which crypto assets will best serve their digital future.”

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Chainlink up 30% following six-week downtrend and developer selloff

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Following a six week downtrend from its all-time high, LINK has rebounded 30% in the past 24 hours after a reported developer selloff resulted in downward pressure on the oracle protocol token’s price.

The strong rebound in the Bitcoin price, a sea of green among DeFi coins and a new Chainlink partnership announcement have all contributed to the price increase.

Chainlink’s native token had fallen over 60% from its peak of $20 mid-August, bottoming out at crucial support levels around $7.50 on Thursday, September 24. The six week downtrend appears to have been been accelerated by multiple sales of large chunks of LINK from what UK crypto publication Trustnodes reports is the dev address.

This ‘dev address’ has been selling batches of 500,000 tokens, worth approximately $4.8 million per batch at current prices, regularly over the past six months. The frequency of sell-offs increased after LINK hit its all-time high last month. The address shows several outflows to a Binance address but then the trail goes cold.

There are around 26 million tokens remaining in this address, worth an estimated $258 million at current prices.

Image – Etherscan.io

Since its peak, LINK market capitalization has declined from more than $7 billion to around $3 billion currently, however it remains one of the best performing crypto assets this year surging over 1000% from January 1st to its all-time high. At current prices, it is still up 450% since New Year’s day.

The selloff has dropped prices back to a crucial support level and the ‘Link Marines’ appear to have chosen this point to load up again. The $7 to $8 price zone was where LINK held in July before its epic run up to $20. A return to that level this week has catalyzed buying pressure as traders eyed a long overdue bounce yesterday.

That bullish momentum mounted resulting in a surge of 30% in less than 24 hours as LINK prices topped out at $10 a few hours ago. Since then, prices have retreated a little and are currently hovering around $9.80.

Chart – Tradingview.com

The price bump came hours after Chainlink announced a partnership with travel company Travala.com. LINK has been integrated as a payment method on the crypto friendly hotel booking platform and token holders can book accommodation in over 2.2 million hotels and homes in 230 countries.

Bitcoin’s momentum may have also had an effect. The king of crypto is well known for its capacity to move the rest of the market and it too bounced off support at $10,250 with a gain of 5% in push to $10,750 over the past 24 hours.

Source: https://cointelegraph.com/news/chainlink-up-30-following-six-week-downtrend-and-developer-selloff

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