Bybit adds crypto options trading as part of expansion plans

Hi there! Welcome to the weekly digest brought to you by the Good Crypto team. We know how important it is to be well-informed about the latest developments in the niche, so we have brought together the past week’s most exciting events. Below you will find the hottest news, the newest exchange listings, and even memes to cheer you up. If you want to get these updates as soon as we post them, follow us on Twitter or Telegram.

Weekly Market Summary

During his impending purchase of Twitter, billionaire Tesla CEO Elon Musk has put free speech front and center. Now, he has the backing of the CEO of one of the largest cryptocurrency exchanges.

“Elon buying Twitter is a great win for free speech and probably changes the trajectory of the world more than most people realize,” tweeted the CEO of Coinbase, Brian Armstrong. “Twitter is upstream of media and culture in many ways, and it was trending in a very dangerous direction on censorship.”

Two former Jefferies Financial Group executives will launch new crypto exchange for institutional investors.

Following the completion of a recent preliminary investment round, the exchange, called Crossover Markets Group Inc., is slated to launch in “late summer to early fall.”

The new exchange is described as a “digital asset exchange designed to meet the liquidity needs of institutional clients” on the Crossover Markets website.

Quick weekly news:

• Bybit adds crypto options trading as part of expansion plans
• Avalanche’s New Wallet Will Feel ‘Smooth as Silk’: Ava Labs President John Wu
• Nifty News: OpenSea acquires Gem, and Chess.com makes a move into NFTs
• Author Margaret Atwood Wants Students to Envision Future Utopias—And Mint Them as NFTs

Other notable events include:

• 21 Shares has launched a hybrid Bitcoin and gold ETP
• New York bans BTC mining using non-renewable power

21 Shares has launched a hybrid Bitcoin and gold ETP

On Wednesday, the Swiss business released the 21Shares ByteTree BOLD ETP (BOLD), a new product aiming to provide inflation protection by monitoring an index that offers risk-adjusted exposure for bitcoin and gold.

The new hybrid ETP, listed on the SIX Swiss Exchange, is rebalanced monthly based on the inverse historical volatility of each asset. At the time of its introduction, BOLD held 18.5 percent of BTC and 81.5 percent of gold.

Many people in the crypto world see Bitcoin as a digital substitute for gold, according to Hany Rashwan, co-founder and CEO of 21Shares. “This hybrid product combines the traditional value of gold with the promising return rates of bitcoin, which is considered by many as the new gold.”

New York bans BTC mining using non-renewable power

Late Tuesday, the New York State Assembly approved a measure that would put a two-year moratorium on any new proof-of-work (PoW) cryptocurrency mining operations in the state that utilize carbon-based fuel.

The bill, supported by Anna Kelles, would put a two-year ban on the approval of any new Bitcoin mines. Not only that, but it would also restrict the renewal of licenses provided to current PoW cryptocurrency miners who use carbon-sourced energy to increase their power use.

• Spot trading: CryptoKing Bitcoin (BTC) has suddenly fallen from its position as leader of the pack and moved to fourth place, as wild card JasmyCoin (JASMY) topped our rating. Ethereum (ETH) and NEAR Protocol (NEAR) were relatively stable in their second and third places. Last but not least, Terra (LUNA) took fifth place.

• Derivatives: Bitcoin (BTC) remains in the number one position for derivatives trading, but Terra (LUNA) disrupted the legendary Ethereum’s second place spot knocking it out of the top five altogether. Theta Network (THETA) with STEPN (GMT) and PancakeSwap (CAKE) remained stable in their positions of third, fourth, and fifth places.

New Listings on Coinbase Pro:
– Binance USD (BUSD/USDT BUSD/USD)
– Oasis Network (ROSE/USDT ROSE/USD)

New Listings on KuCoin:
– Plutonians (PLD/USDT)
– EpiK Protocol (EPK/USDT)
– CoolHash (COOHA/USDT)
– Position Exchange (POSI/USDT)
– Celer Network (CELR/USDT)
– Orbitau Taureum (TAUM/USDT)
– Aurora (AURORA/USDT)
– ITAM CUBE (ITAMCUBE/USDT)
– Plato Farm (PLATO/USDT)
– IDEX (IDEX/USDT)
– SwftCoin (SWFTC/USDT)
– Blockchain Brawlers (BRWL/USDT)
– Hawksight (HAWK/USDT)
– X World Games (XWG/USDT)
– Radio Caca (RACA/USDT)

New Listings on Huobi:
– DOSE (DOSE/USDT)
– Step App (FITFI/USDT)
– Legends of Elumia (ELU/USDT)
– Dotmoovs (MOOV/USDT)
– Threshold (T/USDT T/BTC)
– Plato Farm (PLATO/USDT)
– DODO (DODO/USDT)
– Celsius (CEL/USDT)

By the way, the Good Crypto PRO plan includes new Exchange Listing alerts for more than 30 exchanges. Become a PRO and receive an instant notification when a new coin is listed on the exchanges you’re interested in.

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Top Crypto Meme of the Week

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