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Quantum-Resistant QAN to Become First IEO Launched on BitBay Exchange

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  • Alex Dovbnya
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    The sale of QARK tokens will commence on Nov. 18 on the BitBay exchange

Quantum-Resistant QAN to Become First IEO Launched on BitBay Exchange
Cover image via u.today

QAN, the crypto project that wants to stand up to futuristic quantum computers, will become the first initial exchange offering launched on BitBay on Nov. 18. In first, the exchange will allow IEO investors to buy QARK tokens in EURO, PLN, and GBP, the company's press release states.  

Google achieving "quantum supremacy" sparked a debate about whether Bitcoin and other cryptocurrencies that are powered by the Blockchain technology will be able to survive the advent of extremely powerful machines.

While quantum computing in its current stage is rather primitive, there are already some forward-thinking crypto projects in the likes of QAN that claim to be quantum-resistant. 

"As a licensed cryptocurrency exchange we want to offer our users a possibility to participate with innovative and reliable projects. QAN brings great value to blockchain developers and has the potential to level up the cryptocurrency industry ecosystem," said Paweł Sobków, the CEO of BitBay platform operator Pinewood Estonia OÜ. 

BitBay users can invest in QAN directly from the balances on their accounts, using any of the four available fiat currencies (USD, EURO, PLN, or GBP). 

IEOs have become a pervasive trend in the cryptocurrency space as of recently with Binance hosting plenty of coins on its own platform. This new means of fundraising is set to replace ICOs that plagued the crypto industry with a plethora of scams.   

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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Bitcoin Massacre: $180 Mln Worth of BTC Longs Liquidated on BitMEX

ByBit
  • Alex Dovbnya
    📰 News

    A massive amount of long positions gets liquidated on the BitMEX exchange after the Bitcoin price tanked all the way down to $7,350

Bitcoin Massacre: $180 Mln Worth of BTC Longs Liquidated on BitMEX
Cover image via u.today

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

$179.3 mln worth of longs has been liquidated on BitMEX, the leading derivatives exchange, after the Bitcoin price shockingly dropped to $7,350 (compared to spot exchanges where BTC didn't go below $7,500). Considering that the average leverage is 25x, Bitcoin bulls collectively netted a loss of around $6.4 mln.         

One of the top traders on BitMEX, who felt "long and strong" at the $8,000 level, most probably regrets his recent tweet.     

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This string of bloody-red candles opens a possibility for a further drop to below $7,000, which has been the pipe dream of Bitcoin bears ever since the BTC price blasted past this level back in May.   

At the time of writing, the top coin by market capitalization is sitting at $7,581 with no sings of buying pressure, CoinStats data shows.  

Trader "The Wolf of Wall Street" says that the retail interest in Bitcoin has been slowing down in November (based on the number of addresses with balances less than 0.1 BTC). Hence, it is unlikely that the average Joe will start FOMOing in anytime soon.      

Dutch analyst "Plan B" didn't cave in to bearish sentiment. He says that the positive difficulty adjustment prevented the much-feared miner capitulation, and the BTC price could increase from that point. 

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As reported by U.Today, the Bitcoin price could still nose-dive by 40 percent based on the BitMEX funding rate

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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