Crypto trading landscape: Insights from Bybit, CEX.IO, Huobi and GoodCrypto

Crypto trading landscape: Insights from Bybit, CEX.IO, Huobi and GoodCrypto

According to key CEX players, success in the crypto industry hinges on adapting to client needs, navigating regulatory changes and prioritizing mass crypto education.

The virtual roundtable, hosted by Cointelegraph on Twitter Spaces, brought together key team members from the largest centralized exchanges (CEXs), including Bybit, CEX.IO and Huobi, to discuss current industry challenges and trends in crypto trading. Speakers also included Maksim Hramadtsou, co-founder of GoodCrypto, an all-in-one trading and portfolio management app and member of the Cointelegraph Accelerator.

All speakers noted that the challenges they’re facing are the result of a complicated regulatory landscape, especially in some parts of the world such as the United States, a loss of user confidence due to FTX and other major industry events, liquidity drying up and the consequences of a bear market. They shared strategies for navigating through the uncertainty of the current state of the industry.

Becky Sarwate, head of communications at CEX.IO, doesn’t see increased regulation as an obstacle, as she believes regulation is the key to global crypto adoption. She emphasized the importance of educating users not only on how to use CEX but also on the basics of crypto and the processes behind crypto, without technical terms or detailed descriptions of use cases. “If we really want to welcome newcomers to space, we need to limit the jargon and techno-speak to show the possibilities that really exist in space,” Sarwate said. “In our case, we teach people through the university within our platform, our leadership and values, which we’ve been nurturing throughout CEX.IO’s history.”

Edward Chen, general manager of the Asset and Commercial Center at Huobi, noted the lack of use cases related to the application layer. “Everyone is talking about infrastructure, but not the application layer, where we’ve only seen a few projects. There’s still a lot to be done there from the traditional world, such as crypto and fiat off-ramp solutions, so we provide a bridge between these scenarios to support trading demand,” he said. Among Huobi’s strategies to maintain its position in the market, Chen cites partnerships with traditional finance (TradFi) players, a strong research team to detect market trends ahead of competitors and risk management tools for users.

Bybit takes a different approach, as its adviser, Anndy Lian, pointed out with the example of its recent collaboration with Oracle Red Bull Racing: “Together we launched an NFT collection ‘Velocity Pass’ almost three weeks ago, which has sold quite well despite the fact that the NFT market is not performing strongly. I think whatever the market, bull or bear, as long as you have a good product, you will always be on the right track.” Lian said Bybit has managed to stay ahead of the competition by correctly anticipating the regulatory framework, working closely with various communities and stakeholders at the government and business levels, and constantly supporting customers, including providing artificial intelligence (AI) services. “In the longer term, it turns into a trust when done on a daily basis,” he said.

Maksim Hramadtsou of GoodCrypto noted the shift in traders’ preferences, which are now more toward decentralized exchanges (DEXs). “It’s not only because of FTX but also liquidity, which is not having the best times. Maybe over time, they [users] will change their minds because CEXs are faster, have better liquidity and lower fees. But we try to be with our customers where they are now.” Hramadtsou mentioned that GoodCrypto supports over 35 exchanges and offers tools that are not native to these exchanges but are commonly used by many traders, especially those from TradFi. These tools include trading stops, dollar-cost averaging (DCA) and grid trading bots, as well as the ability to activate any order via webhooks. “So for those who use multiple platforms at the same time, which is absolutely standard practice and creates interesting dynamics in the market, GoodCrypto is a good option as traders can easily switch between exchanges,” said Hramadtsou.

In terms of current trends that will remain and shape the future of the industry, Sarwate highlighted the growing synchronicity between TradFi and decentralized finance (DeFi), which will continue, while Hramadtsou predicted the growth of DEXs built on layer 2. Lian added: “I hope to see more tokenized products in the space, such as securities, commodities, derivatives or equities because it can bring more traditional players into crypto and therefore bring competitiveness and a variety of products. It can take us to new heights.”

 

Source: https://cointelegraph.com/news/crypto-trading-landscape-insights-from-bybit-cexio-huobi-and-goodcrypto

 

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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Securities.io Interview Series: Anndy Lian, Inter-Government Blockchain advisor & Author

Securities.io Interview Series: Anndy Lian, Inter-Government Blockchain advisor & Author

Anndy Lian provides advisory across a variety of industries for local, international, publicly listed companies and governments. He is an early blockchain adopter and experienced serial entrepreneur, book author, investor, board member and keynote speaker.

Currently, he is appointed as the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group where he looks after the governance and compliance aspects of the business. He is also the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization.

Anndy is also part of the Gyeongsangbuk-do Blockchain Special Committee, Government of Republic Korea, together with industry experts such as Brock Pierce (Chairman, Bitcoin Foundation) and Alexis Sirkia (Founder of Yellow.com), helping the province to grow using blockchain technologies.

He is the Chairman (Singapore) for Korea eSports Industry Association (KeIA) where he is actively promoting eSports to go mainstream and adopt cryptocurrencies.

When did you initially become interested in blockchain and cryptocurrency?

My interest was in cryptocurrency first and the interest grew tremendously after reading Satoshi Nakamoto’s whitepaper titled Bitcoin: A Peer-to-Peer Electronic Cash System back in 2010. We were only using bitcoin as a form of a credit to exchange items online. Maybe for music download, gaming accounts etc.

As for blockchain, it was 2016. As an investor in the health and medical industry, I was invited to a close door discussion with the medical professions and a pharmaceutical company. That was the first time I know how important blockchain is. It helps to fight fake medicines and health products. It can enhance the current search and tracking model if adopted well. My interest for both grew since that point of time.

You’ve spoken to many regulators, what are some of the biggest questions or concerns that they have with DeFi and cryptocurrency?

Their biggest concern for regulators is how to balance innovation and unregulated financial activities. I dare to say all regulators are into blockchain and agree that it can do wonders.

As for unregulated activities like ICOs for instance in 2017, they are concerned that token buyers are scammed and bought into financial products that they do not know much about. This has downstream issues and may lead to more bankruptcies and social unrest. When such issues occur, who will clean up the mess? Binance? Huobi? Gemini? Coinbase? The answer is no. Governments got to step in to help their citizens.

What are some of the biggest industry challenges that you see in DeFi?

Violations of KYC/ AML: Not knowing who is who and where the money is flowing from is one of the main problems for DeFi right now. When such trades occur between unknown parties and if these parties violate any of the regulations, the consequences can be very damaging. Nevertheless, it has improved a lot from the older days.

Liquidity issues: This is still a problem although we see PancakeSwap is doing very well with their volume. There is still clear competition between CEX and DEX. There is also competition between chains on pricing too. When you see the competitions, the liquidity flows is very obvious, some totally withdraw themselves from Chain 1 to Chain 2 because Chain 2 is new and they can get more out of it.

DeFi is very complex to use: The UI and UX have increased a lot. It is still an uphill task for many to follow. Do you know how to activate the expert mode? Why I cannot sell my coins away? Where are my coins? Slippage? Many who read this article will find these problems have happened to them before and newer problems appear day to day too.

What are some cryptocurrencies that currently have piqued your interest?

Bitcoin and the original main cryptocurrencies are still of my interest, although some of them are not doing much for the last 2 years. New cryptocurrencies with innovative tokenomics like Safemoon for example piqued my interest in the recent months. A few other NFT and MEME projects have also gain my attention too.

What’s the most important attribute that you consider when reviewing new cryptocurrencies?

Concept, Marketing, Community, Technology and Business.

These are the 5 things I look at when reviewing new cryptocurrencies. The project must have a good concept and has to solve some issues. With good marketing, it can draw in support from the community at large. Technology will help them with their use cases. Last but not least, it has to have be able to gain revenue.

“Always remember, all hype but no business = failed project.”

You’ve spoken a lot in the past about NFTs, what are your current views on the space?

The NFT space is getting exciting. Recently Twitter has also joined the bandwagon, giving away 140 Ethereum NFT on Rarible. I can see more artists, movie stars, sportsmen, luxury brands, politicians knowing more about crypto because of NFTs.

The flip side is there are not enough users to buy the overwhelming creation on many platforms. Many of the demands you see may not be the real demand. In the next year, we will see the creative folks dropping out and only the toughest can survive.

Nevertheless, this space will grow faster and has not reached its fullest potential yet.

You’re currently the Chairman (Singapore) for the Korea eSports Industry Association (KeIA) where you are actively promoting eSports to go mainstream and adopt cryptocurrencies. How has the gaming community in South Korea reacted to mixing eSports with crypto?

South Korea is both strong in cryptocurrency and esports gaming. I cannot speak for all gamers in South Korea. All I can say that they are the fastest-growing country when it comes to esports + crypto.

More semi-professionals became full-time professionals thanks to the COVID19 situation and also cryptocurrency. The gamers are rewarded with cryptocurrencies instantly after the game. This becomes a revenue stream for them to continue their lives despite lockdown. Win-win situation.

You believe that the blockchain industry needs to be “redecentralised”, could you elaborate on these views?

I started advising governments earlier than most of my peers. Most of my peers think in order for crypto to grow we need to go fully decentralised. No governments, no banks. Of course, they think I am crazy too.

My stand is if we want to grow we need to redefine the word decentralise. If we can “redecentralise” things properly, we can gain acceptance faster. This has aged well with times 🙂

Is there anything else that you would like to share regarding the industry or what’s currently on your mind?

I think all coins must co-exist.

This space must mature with time and not work on groundless price pumps, washed trading or out of this world FUDs.

Let’s work together in the right manner.

Thank you for the great interview, readers who wish to learn more about Anndy and his views should visit the Anndy Lian website.

 

Original Source: https://www.securities.io/anndy-lian-inter-government-blockchain-advisor-author-interview-series/

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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YBS뉴스통신: 한국e스포츠산업협회(KeIA)와 블록체인 게임 플랫폼 Gaimin.io 양해각서 체결

YBS뉴스통신: 한국e스포츠산업협회(KeIA)와 블록체인 게임 플랫폼 Gaimin.io 양해각서 체결

(서울=YBS뉴스통신) 한맑음 기자 = 한국e스포츠산업협회(KeIA)는 본사를 영국에 둔 블록체인 게임 플랫폼 Gaimin.io와 양해각서(MOU)를 체결하고 2020년 2월 23일에 협력 조항 및 세부 내용을 정했다.

2019년 설립된 KeIA는 e스포츠 산업 진흥, e스포츠 선수 권리 보호 및 프로게이머 및 소속 조직간에 상생 협력 및 시너지효과를 창출하는데 목적을 두고있다.

KeIA의 회장 Park Bong Kyu은 Blockcast.cc의 기자 Jenny Zheng과의 인터뷰에서 “한국의 제4차 산업혁명에서 e스포츠는 경제 분야 혁신 성장을 이끄는 새로운 성장 동력 중 하나로 여겨진다. 우리 협회의 노력은 머지않아 업계에 더 많은 가치를 창출하고 e스포츠 업계를 전 세계적으로 빠르게 발전시킬 것이라 믿는다. 뿐만 아니라, KeIA는 한국의 e스포츠 팀의 국제 발전을 적극적으로 지원하고 더 많은 국제 업무를 개척하도록 도울 것이다. Gaimin.io와 함께 한 이번 협력은 매우 시의적절하다고 본다. 우리의 협력을 통해 한국 및 유럽 시장을 연결하여 함께 발전할 수 있기를 바란다.”라고 말했다.

KeIA의 싱가포르 회장인 Anndy Lian의 소개로 Gaimin.io와 KeIA는 여러 번 만남을 가졌고 최근에 최종 협력 협의를 체결했다. Anndy Lian는 “이번 협력을 성사시킬 수 있어서 매우 즐겁다. Park회장님은 젊은 회사를 도와 목표를 실현하는 일을 오래동안 해왔다. 뿐만 아니라 새로운 기술에 많은 관심을 보였다. 블록체인 기술과 게임 응용의 결합은 아주 조화로운 조합이라고 생각한다. 블록체인이 제공하는 솔루션은 시스템의 안전성 및 신뢰도를 높일 수 있는데 이것이 바로 시장이 원하는 바이다.”라고 전했다.

Gaimin의 CEO인 Martin Speight은 “Gaimin와 KeIA의 협력은 양측 모두에게 이익과 혜택을 가져다 줄 것이라 믿는다. 한국의 게이머들은 우리 플랫폼의 채굴 보조 프로그램을 통해 어느 정도 수동적인 경제적인 수익을 얻을 것이고 e스포츠 프로게이머들은 우리의 플랫폼을 통해 해당 팀 및 지지자들과 더 효율적으로 소통하고 거래 결제를 진행하고 온라인에서 디지털 자산을 관리할 수 있다. Gaimin.io가 한국 게이머들을 위해 원스톱 솔루션을 제공해줄 수 있기를 바란다. 한국은 e스포츠산업의 중심이기에 우리는 한국의 뛰어난 업계 노하우와 프로게이머들을 유럽에 알리고 싶고 더 많은 젊은 게이머들이 프로게이머의 길을 선택할 수 있게끔 격려해주고 싶다”라고 덧붙였다.

Gaimin와 KeIA의 양해각서는 체결 후 즉시 발효된다. Gaimin는 전 세계의 사용자와 커뮤니티를 통해 KeIA의 이념을 전할 것이고 KeIA는 Gaimin와 함께 블록체인을 e스포츠 업계에 도입할 수 있는 가능성을 찾을 것으로 보인다.

Source: http://www.ybsn.tv/news/articleView.html?idxno=5856&from=singlemessage&isappinstalled=0

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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