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Tokenize Exchange Blog

A place to exchange ideas, knowledge, and values

The Newsletter by Tokenize Xchange (Vol.138| June 2021)

By Amy Luong
June 21, 2021

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Introduce Tokenize Blog

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Tokenize Blog is officially here. Now apart from our Medium channel, the users can now access exciting articles straight on our website.

What will Tokenize Blog cover? Our important announcements, product updates, technology, academy, and many more.

New Xfers Flow Applied from May 28

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As you may be aware, Xfers had recently updated and refined its fund process for wire transfers to and from your Xfers wallet. With this change, the time for wire transfers to be reflected in your Digital Goods Wallets will be greatly reduced.

Following the update by Xfers, please take note of the following:

  1. A unique bank account number will be assigned to your Xfers account;
  2. Delete the old recipient bank account details (CIMB Bank ending with 3611) as a payee in your bank portal;
  3. Create a new payee account with your new unique bank account number (accessible on your deposit request);
  4. Only send in funds from the bank account that you have verified with Xfers; and
  5. You will not be needed to submit a top-up request on the Tokenize Xchange website. Simply send funds to your new recipient bank account number and the funds will be reflected on your Tokenize Xchange account.

The new flow will officially be available on May 28, 2021. Please feel free to contact us for further clarifications. In the event that you have made an incorrect transfer, please do not hesitate to contact us at info@tokenize.exchange or help@xfers.com

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Share Your Memes with Tokenize Community

 JOIN THE COMMUNITY NOW !!!

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Sharing is caring. The first 100 people commenting on this post your favorite crypto-meme will receive 30 DOGE as a gift.

The steps are simple:

  • Step 1: Join our FB group Tokenize Community
  • Step 2: Comment your meme on the give-away post in the group
  • Step 3: The quickest 100 people will be contacted by Tokenize to provide their accounts
  • Step 4: 30 DOGE will be sent to the users’ wallets

*** DURATION: May 24 — May 31, 2021.

We can never say no to a good meme. Apart from tips, know-hows, and questions to ask, post your crypto-memes in Tokenize Community. Please, we ask for it.

New Pairings Incoming

The estimated arrival date of new pairings: May 28, 2021*.

1) SGD-MANA
2) USD-MANA
3) SGD-VET
4) USD-VET
5) SGD-ATOM
6) USD-ATOM
7) SGD-HBAR
8) USD-HBAR
9) SGD-BAT
10) USD-BAT
11) SGD-ONE
12) USD-ONE

*Withdrawal and deposit functions for these 12 pairings to be confirmed at a later date.

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The Truth Behind Bitcoin Energy Consumption

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On May 13th, Elon Musk claimed that Tesla will not accept Bitcoin as a payment method due to its increasing use of fossil fuels in Bitcoin mining and transactions. His opinion got good responses from environmental activists, however, is it true?

Let’s take a look at Tokenize Exchange’s analysis to find out why his claim is misleading us about Bitcoin energy consumption.

ACCESS THE FULL ARTICLE HERE

Bitcoin Rises Above $40K as Mining Council Plans to Address Environment Concerns

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Bitcoin’s recovery gathered steam on Wednesday with prices topping $40,000 to hit the highest level in nearly a week.

  • The leading cryptocurrency by market value rose to $40,800 during the early European trading, a level last seen on May 21. Prices hit lows near $31,000 on May 23 and have been rising ever since.
  • At press time, Bitcoin (BTC, +5.38%) was trading at $40,272, according to CoinDesk’s Bitcoin Price Index. The cryptocurrency is yet to pass through the widely tracked 200-day simple moving average hurdle at $40,639.
  • Major alternative cryptocurrencies (altcoins) are also gaining ground and flashing relatively bigger returns.
  • Names including MATIC, LINK (+22.51%) and BNB have gained 10% to 14%, while ether (ETH, +10.15%), the second-largest cryptocurrency, is trading 6% higher.
  • Altcoins suffered sharp losses last week as bitcoin crashed. Ether fell by over 40%, registering its biggest weekly decline on record.
  • The latest uptick in bitcoin and other coins comes on the heels of the Bitcoin Mining Council’s plans to address concerns regarding the negative environmental impact of cryptocurrency mining.

Number of Bitcoin Holders Shoots to Record High, Data Shows

The number of bitcoin addresses in accumulation has risen to a record high as investors with long-term horizons take advantage of the recent price drop to boost their coin stashes.

  • The count of accumulation addresses climbed to a record for the seventh consecutive day on Monday, taking the total to 545,115, according to Glassnode data.
  • The number has increased by 16,445 since May 8 — a sign of persistent bargain hunting by long-term holders during bitcoin’s slide from $58,000 to $30,000.
  • The balance held in accumulation addresses has jumped by 30,000 during the same time frame, hitting a two-month high of 2.79 million BTC.
  • Glassnode defines accumulation addresses as ones that have at least two incoming non-dust (tiny amounts of bitcoin) transfers and have never spent funds. Essentially, these are long-term holder addresses.
  • Over-the-counter (OTC) desks have also seen substantial outflows over the past two weeks, signifying dip-demand from institutional investors.
  • On Monday, OTC desks tracked by Glassnode registered an outflow of 11,883, the most since early September.
  • However, inflows to OTC desks wallet also spiked to a 5.5-month high of 12,392 on Monday. Inflows indicate an intention to sell but do not imply immediate liquidation.

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