The market has been choppy this week, with Bitcoin showing some strength on Wednesday, but then stopping short of $53k before correcting once more. This was closely related to the comments made on Thursday by Fed chairman Jerome Powell, which saw 10-year Treasury bond yields spike and the equities markets dip significantly across the board. Investors are becoming a bit less prone to make risky investments, so we need to see how the markets will open on Monday to find out if any longer-term uptrends will be broken.
As for NewsCrypto, the main updates this week are definitely the PancakeSwap listing and the corporate rebranding. The NWC/BUSD trading pair went live on March 3rd, and there was much more demand than we expected, with almost 700 trades in the first 24 hours alone.
We provided $100k of initial liquidity to the trading pair and, to show our commitment to PancakeSwap and the Binance Smart Chain ecosystem as a whole, 75% of that liquidity is locked. Of course, PancakeSwap is merely our first step into BSC, as we’re preparing something groundbreaking for our users there, so stay tuned for updates.
Regarding the rebranding, our new logo is the first part of the comprehensive redesign and upgrade of all our products that are coming soon. The first products to be upgraded will be our mobile app and website, with the platform and mobile wallet soon to follow. While the look and feel of all our products will be drastically improved, we’re focusing first and foremost on functionality, with many new features that will be added to the platform to give you more tools for learning about trading and to provide you with even more insight into the markets.
I hope you’re all managing to stay on top of all the choppiness this week and that you have a relaxing weekend. One thing is for sure — after a week like this, we’ve all earned it!
Written by Vid Gradišar