Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The Crypto Market ends the week at a total market capitalization of $2,120 trillion. Bitcoin is up by nearly 4% in comparison with last Sunday. Ethereum lost 2% in value over the week. XRP is down by roughly 4% after a troublesome week. Most altcoins, except Avalanche, have traded in the red for most of the week. The DeFi sector gained almost $1.4 billion from the…
Catex seeks to raise the bar in terms of usability and functionality. This platform has always been an innovator in the sector. For example, Catex first entered the market, pioneering transaction mining protocols. While the exchange no longer offers these services, they now have their eye on a new set of features to give users an edge.
What is Catex?
Catex is what’s known as a hybrid exchange. The platform developers borrow some of the best aspects from decentralized exchanges to give users more flexibility. Additionally, users enjoy the core functionality and security of a centralized exchange when they use Catex.
Catex’s developers claim the platform holds the world’s fastest deposit and withdrawal cryptocurrency exchange. Since its introduction, Catex managed to keep investors interested in its unique toolset and approach. Now, developers want to step into one of the hottest sectors of the crypto market – DeFi.
DeFi (decentralized finance) is a term used to refer to financial applications built to function on decentralized networks. These new-age networks take common financial products and systems and flip them on their head. For example, it’s common for DeFi platforms to allow users to lend out their crypto to other users in exchange for interest on top of their original investment. This practice is known as yield farming.
Catex has taken a giant step into the DeFi sector with its latest venture. The platform now allows users to stake the platform’s native token, $CATT, and earn a passive income. Notably, there are a couple of different types of staking in the market today. This particular staking protocol is what’s known as liquidity staking. In this system, you receive rewards for locking your crypto into liquidity pool smart contracts.
Catex intends to distribute $600,000 worth of DeFi tokens to Catex Token (CATT) holders during the official launch of its new services. As part of the new campaign, the platform will introduce another stakable token known as YCATT in the coming weeks.
This new token will serve as Catex’s primary DeFi token. Users can pre-stake YCATT starting on November 30th. Impressively, staking rewards will be paid out directly to your CATT wallet. Best of all, the entire system is run by smart contracts and requires no human intervention. In this way, your profits are guaranteed to arrive on time.
The Catex ITO (initial token offering) is just days away. Early bird investors can purchase YCATT for $0.10 during the launch. This price point provides plenty of room for profit as the platform will list YCATT on the world’s largest DEX, Uniswap, for $0.30 days later. Catex’s ITO is set to commence on December 15th. This event precludes the official opening of the CATT DeFi web page scheduled for November 20, 2020.
Catex Exchange has officially launched the Catex.Finance (YCATT) website. This completes the second step in their Catex DeFi roadmap. The next step on the journey is the start of Catex Token (CATT) pre-staking for 2,000,000 YCATT ($600,000 value). This event will commence on November 30th and continue until December 15th.
Deflationary Tokens Win Big
There is a CATT buyback scheduled for January 20, 2020. This strategy will remove a portion of the unsold CATT tokens from the market, which adds liquidity to the project. Buybacks are among the most popular strategies used by firms seeking to ensure their tokens demand always exceeds its supply.
Benefits of Staking
Adding a staking option to Catex is a wise choice. Staking is one of the fastest-growing sectors of the crypto sector. Originally, users would stake their crypto to secure Proof-of-Stake networks. Nowadays, there are a ton of different staking options for users. Staking is considered less risky and more profitable than trading cryptocurrencies directly.
Trading cryptocurrencies requires a significant investment in learning the nuances of the market. The crypto market is notoriously volatile, and you need to keep your finger on the pulse of the market to be aware of any major downturns before they swallow our profits. Sadly, this is just too much for new users who may not even understand the very basics of cryptocurrency.
New users want to earn profits but lack an in-depth understanding of market conditions to trade effectively. Staking provides these users with a safer alternative. They need not research a market full of new firms and technologies to determine the right choice. In a staking scenario, the main thing is to stick with reputable platforms such as CATEX.
Other Cool Features
Catex also offers various other features that make it stand out amongst the growing sea of competition. For example, the exchange offers two trading modes, Basic and Advanced. This strategy allows new users to easily operate the platform without the confusion associated with advanced trading tools.
Once you are confident in your understanding of the crypto market and Catex, you can switch over to the advanced trading window. Here you are greeted with complex but well-designed features designed to increase your ROIs. The advanced trading window features more data and functionality. In this way, Catex can service the needs of multiple investors simultaneously.
Another cool feature Catex brings to the table is its dice game. Decentralized gaming is another sector in the market with infinite potential. Catex demonstrates this flexibility with the introduction of a dice game. The way the game works is simple. You select the number or letter that you think the next ETH hash block will end in. If you are correct, you win the prize.
Every minute the first ETH block hash (last number) will decide the previous dice periods winning number. Users can enjoy some decent windfalls as the game supports a max win of 15.04x. You can play Catex’s Dice game using BTC/ETH/USDT/CATT at this time.
Catex – A Pioneering Spirit in a Reliable Exchange
Catex continues to flex its entrepreneurial spirit with the introduction of DeFi services. The ability to earn easy crypto rewards is always a major draw in the market. The combination of Catex’s excellent reputation and the introduction of its new services is sure to help drive further adoption on this platform. For now, interested investors can start stacking YCATT in days.
Disclosure: This is a sponsored post. Readers are encouraged to conduct further research before taking any action. Crypto Adventure does not endorse any crypto projects cryptocurrencies listed, mentioned, or linked to on our site.