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BitMEX lists new altcoin and DeFi derivatives contracts based on basket indices

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BitMEX lists new altcoin and DeFi derivatives contracts based on basket indices

BitMEX, the popular crypto derivatives trading platform, today announced the launch of the BitMEX ALTMEX Basket Index (.BALTMEX) and the BitMEX DEFIMEX Basket Index (.BDEFIMEX), which track the performance of the top ten cryptocurrencies in the altcoin and DeFi markets, respectively.

With this launch, BitMEX has also introduced the ALTMEXUSD and DEFIMEXUSD Quanto Perpetual Swaps – derivatives contracts invented by BitMEX to gain exposure to these two sets of coins.

Cryptocurrencies represented in each basket are as follows:

The BitMEX ALTMEX Basket Index (.BALTMEX):

Constituent Index Multiplier Market Cap Share
BNB 0.07078653 20.00%
ADA 14.89815288 20.00%
DOGE 65.55702677 15.01%
XRP 23.21700023 14.87%
DOT 0.48176854 7.10%
UNI 0.29550574 5.68%
BCH 0.00940295 4.61%
LTC 0.03359651 4.48%
SOL 0.13713494 4.36%
LINK 0.2198593 3.89%

The BitMEX DEFIMEX Basket Index (.BDEFIMEX):

Constituent Index Multiplier Market Cap Share
UNI 0.9859852 20.00%
LINK 1.07263338 20.00%
AAVE 0.04467642 12.13%
MKR 0.00340582 9.40%
LUNA 1.45538761 8.39%
COMP 0.01853168 8.11%
AVAX 0.59972503 7.26%
GRT 10.07942781 7.18%
YFI 0.00010012 4.14%
SUSHI 0.44255636 3.39%

Trading started at 04:00 UTC on July 20th, 2021.

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Quiznos Sandwich Shops to Soon Offer Bitcoin Payment Option

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Quiznos Sandwich Shops to Soon Offer Bitcoin Payment Option

Quiznos, an international chain restaurant specializing in sandwiches, is on the cusp of accepting bitcoin payments at select locations in Denver. 

Quiznos customers in the Denver area will soon be able to pay with cryptocurrency. The food chain announced that, in collaboration with payments provider Bakkt, Quiznos will begin accepting digital asset payments in the month of August. 

Bitcoin for sandwiches

The pay-with-bitcoin pilot program will be rolled out in Denver, Colorado, and comes with incentives for trying out the payment system. Any customer who uses the Bakkt app to make a purchase at Quiznos will receive a $15 thank you in the form of bitcoin. The platform also allows for the purchase of gift cards and the Bakkt app has a built-in loyalty rewards program. 

According to Mark Lohmann, President of REGO Restaurant Group, owners of Quiznos, stated that “Partnering with an innovative platform such as Bakkt is appealing to us for a number of reasons, primarily because it allows us to accept bitcoin directly at the point of sale as part of a quick and seamless transaction.” Lohmann went on to say that as demand for alternative and digital currency grows, the brand will continue to find accessible ways for customers to utilize it and buy a meal. 

Chief Revenue Officer at Bakkt, Sheela Zemlin added that the pilot program will be closely monitored and, if successful, will be expanded outside of Denver to other locations in the United States. Zemlin believes that the partnership will introduce unique experiences to customers of Quiznos by allowing them to interact with the product and digital assets at the same time. 

More businesses accepting crypto payments

Quiznos might be the first international sandwich chain to incorporate crypto-payments, but many other in the retail, entertainment, and food spaces have made the jump already. 

Sports in particular has thus far been a popular landing spot for crypto companies who handle payments to land. A number of NBA and MLB teams currently allow for purchases of both tickets and merchandise using bitcoin, Ethereum, and Dogecoin among others. The Oakland Athletics and Dallas Mavericks are good examples of this. 

Additionally, a slew of major companies accepts payments in bitcoin including PayPal, Etsy, Whole Foods, Newegg, and Twitch to name a few. Perhaps the best know example of this is Tesla Motors, which accepted crypto payments for a brief period until Elon Musk shut the initiative down due to concerns over environmental issues.

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

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Bitcoin (BTC) Searches for Support After Breakdown

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Bitcoin (BTC) Searches for Support After Breakdown

Bitcoin (BTC) has been moving downwards since reaching a local high of $42,599 on Aug 2 and has broken down from an ascending support line. 

However, it has reached support and technical indicators suggest a short-term rebound in price.

BTC continues descent

BTC has been moving downwards since deviating above the $40,550 range high between July 30 and Aug 2 (red circle), reaching a high of $42,559. 

Currently, it’s trading just above the 0.382 Fib retracement support level at $37,500. The next supports are found at $35,900 and $34,340 — the 0.5 and 0.618 Fib retracement support levels. 

Technical indicators are beginning to show bearish signs. The MACD has given a bearish reversal signal and the RSI has fallen below 70. However, the Stochastic oscillator is still bullish.

BTC Chart By TradingView

Ongoing breakdown

The six-hour chart shows that BTC has broken down from an ascending support line. 

This coincided with a RSI move below 50 (red icon). Interestingly, the RSI had moved above 50 (green icon) as soon as the ascending support line was created.

Despite this, the price is just above the 0.382 Fib retracement level, a likely place for a bounce.

BTC Chart By TradingView 

The two-hour chart for BTC supports the possibility of a bounce. It seems that the downward movement is slowing and gradually turning bullish, as visible by the MACD. 

In addition to this, the RSI has generated some bullish divergence.

If an upward move occurs, the closest resistance area would be found at $40,115. This target is the 0.5 Fib retracement resistance level and a horizontal resistance area.

BTC Chart By TradingView

Wave count

The short-term count indicates that BTC is at or nearing the end of sub-wave one (black) of a bearish impulse. If correct, it could soon initiate a bounce to complete sub-wave two, as outlined in the previous section.

For the longer-term count, click here.

BTC Chart By TradingView

For BeInCrypto’s previous bitcoin (BTC) analysis, click here. 

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

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Two Blockchain-Based Digital Identity Projects Are Being Developed in Argentina

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Two Blockchain-Based Digital Identity Projects Are Being Developed in Argentina

blockchain

Two blockchain-based digital identity projects are being developed in different regions of Argentina, with different objectives. One of them is directed to improve government-citizen relationships, facilitating these interactions in Misiones. The other one seeks to improve financial inclusion in the region of Gran Chaco. These two initiatives are being organized by Project Didi, an organization financed by the Inter-American Development Bank (IADB).

Blockchain Being Tested to Certify Citizen Identity in Argentina

Two new blockchain-based identity projects are now being implemented in different areas of Argentina, looking to improve the experience of citizens in the process. The first of these projects is part of the blockchain push that recently happened in the Misiones province, and it seeks to improve the experience citizens have when dealing with government-related procedures. This project will allow citizens in Misiones and Mar del Plata to simplify the actions required to obtain any document issued by the regional government.

The other project will allow producers to improve their credit scores by applying new techniques to reduce their climatic footprint. A good climatic footprint score will be better appreciated at the time of giving credits in the area. This is all part of a push for a greener production industry in the region of Gran Chaco.

Project Didi Financed by IADB

These two projects are part of a bigger initiative called Project Didi, the first sovereign Argentinian digital blockchain-based identity project, whose mission is to improve and strengthen state organizations by enabling them to identify citizens using these new technologies. Javier Madariaga, Project Didi’s director, commented on how this approach saves time and money for both citizens and governments. He declared:

This technological model, highly innovative in terms of digital identity, not only guarantees a secure and private administration of personal information, but also generates a highly significant reduction in transaction costs and verification of information.

Didi is financed by the IADB, which offered to support these two projects for the first 12 months of its operation. The project uses an app called ID, which allows people to save their digital identities and also economic, civic, and social data. Madariaga stressed they want more and more institutions to use their product. He stated:

Our goal is to make this digital identity model grow, that more and more organizations use it and apply it in their work processes.

What do you think about the implementation of these two blockchain-based identity projects in Argentina? Tell us in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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