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Instant Exchange Marketplace Swapzone Introduces Exchange API for US Residents

PRESS RELEASE. Swapzone.io, a successful crypto-to-crypto exchange aggregator, has just announced a new feature called “flat rate exchange” that is now available to US citizens. The new feature allows North American users to not just “fix” the value they exchange, so nothing can affect the value the initially shown user receives. These exchanges are protected against rate fluctuations and any changes in the market.

important details

The cryptocurrency market is known for its high levels of volatility, and this aspect can be seen as an advantage in certain circumstances. However, due to the highly volatile nature of the digital currency market and the ever-changing network fees, users may also end up with less money than they expected when trading cryptocurrencies.

To get rid of that volatility aspect and the general risk that some users don’t want to take, Swapzone has decided to implement a fixed rate exchange feature for all US citizens. The new feature is useful as it ensures that users match the amount displayed at the beginning of their transaction. In other words, the fixed fee trading feature on Swapzone will allow US users to see the amount they can earn during a transaction, regardless of all the volatility risks of the cryptocurrency; however, this stability may imply higher rates.

Swapzone.io is constantly on the lookout for new technologies and features that benefit its users, since its inception. And the fixed exchange rate feature for US citizens is a very convenient feature, especially if you don’t want to take risks and worry about the fast changing cryptocurrency rate, then fixed rate exchanges are for you.

About the exchange area

Swapzone is a cryptocurrency exchange aggregator which is a useful, progressive and transparent exchange service that combines multiple sources and offers convenience, effectiveness and a common user flow for every trade. You can search services in a single interface, compare exchange rates, and analyze and trade cryptocurrencies. All swaps are escrow free and no registration is required.

Swapzone facilitates the exchange procedure by providing a one-stop shop to locate the best quick exchange offer. We also consider as many assets and services as possible and collect all the data necessary to make an informed decision. It’s as simple as that.

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Fake Safe Haven: Bitcoin Correlation with S&P 500 Hits ATH

The data shows that Bitcoin’s correlation with the S&P 500 and thus the stock market has set a new all-time high (ATH).

Bitcoin’s correlation with the S&P 500 hits a new high

As one analyst pointed out in a CryptoQuant post, BTC’s correlation with the stock market is currently on the rise, further undermining the “safe haven” narrative.

“Bitcoin Correlation with the S&P 500” is an indicator that measures how strongly the BTC price reacts to volatility in the S&P 500, as well as the direction of the response.

When the indicator shows values ​​greater than zero, it means that there is a positive correlation between the stock market and the cryptocurrency price at the moment. “Positive” here means that BTC is moving in the same direction as the S&P 500.

On the other hand, correlation values ​​less than zero imply that BTC reacts to S&P 500 price changes by moving in the opposite direction.

Related Reading | Bitcoin Drops Below $40 As Russia Gave Its Forces the Order to Attack Ukraine

Indicator values ​​exactly equal to zero naturally mean that there is no correlation between the two assets. Now, here is a chart that shows the trend in the S&P 500 and Bitcoin correlation since the year 2013:

The indicator value throughout the history of cryptocurrencies | Source: CryptoQuant

As you can see in the chart above, the correlation between Bitcoin and the S&P 500 has fluctuated between positive and negative, although it has remained low for most of BTC’s history.

Related Reading | Why Bitcoin Won’t Fall Under New Bear Attack, Next Potential Target for BTC

However, since late 2019 and early 2020, the two assets have been strongly and positively correlated. During 2020, the metric has plummeted due to the COVID slowdown, but the indicator has risen sharply during the second half of 2021 and 2022 so far.

The correlation between Bitcoin and the stock market has now set a new all-time high (ATH) of +0.5468 this month.

Such a high correlation between assets further undermined the “digital gold” narrative, as cryptocurrency is no longer the safe haven it once was.

BTC price

At the time of writing, Bitcoin price hovers around $39,000, down 12% over the past seven days. In the last month, the cryptocurrency has gained 10% in value.

The chart below shows the BTC price trend over the last five days.

BTC price seems to have recovered in recent days | Source: BTCUSD on TradingView

A few days ago, the price of Bitcoin dropped, reaching $36,400. Since then, the coin’s value has shown some recovery, breaking above the $39K level again today. It is currently unclear whether this new uptrend will last.

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Mexico’s Third Richest Billionaire: Don’t Sell Your Bitcoin During Crash

The Mexican billionaire believes the price of BTC will rise further in the long term, stating on Twitter that those who “buy and hold” his assets “will thank you later”.

Bitcoin dropped to $37,300 on Monday before rebounding just above $38,000.

Ricardo Salinas Pliego, the third richest Mexican billionaire, said that the current drop in Bitcoin prices is to buy more BTC and not sell.

According to the billionaire, when prices drop like they did with Bitcoin’s recent drop below $40,000, it’s time to carry more cryptocurrencies. Investors, he noted in a tweet, will be better off hoarding than selling.

Salinas, founder of Mexico’s second-largest television network, TV Azteca, and business conglomerate Grupo Salinas, noted:

“You have to buy bitcoin (keep buying when the price is low), so keep your BTC, forget about selling… trust me, you’ll thank me later.”

Salinas was bullish on Bitcoin before, noting in December 2021 that fiat money was “fake” and “paper lies”.

Bitcoin price drops below $38K

The billionaire’s comments come at a time when Bitcoin has seen its value plummet in recent weeks after a bounce failed to gain momentum above $45,000. At the time of writing, the cryptocurrency is trading near $38,780, with intraday prices hitting lows of $37,300.

The bounce above $38,000 puts Bitcoin in a key support and resistance zone that one analyst is watching closely.

According to pseudonymous trader Credible Crypto, the week may see BTC-USD remain shaky, but a positive resolution from consolidation is possible. Otherwise, he noted, BTC is likely to hit lows of $36,200 and likely invalidate the bullish scenario.

“It will be a slow week in my opinion as we are stuck between key support (38-39k) and key resistance at 41-42k. I suspect we moved a little between these two levels, but eventually we resolved this consolidation to the upside. The hard invalidation for this idea is a 36.2k tap. “

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Ripple Partners with Central Bank Digital Currency Think Tank

Ripple has partnered with the Digital Euro Association (DEA) to work together on Central Bank Digital Currencies (CBDCs).

DEA, based in Frankfurt, Germany, is a think tank focused on CBDCs, stablecoins, cryptocurrencies and other forms of digital money.

The organization aims to influence policy related to CBDC and cryptocurrencies through research and providing a platform for policymakers, technologists and economists to discuss digital assets.

In a new announcement, it describes Ripple as a leader in its field, but does not provide exact details on what the partnership will entail.

“Ripple, a leading provider of enterprise blockchain and cryptographic solutions for cross-border payments, has recently developed a blockchain-based infrastructure to support CBDCs and is engaged with the central bank of Bhutan, among others, to help run its program pilot . of CBDC.

Ripple is also a member of the Digital Pound Foundation and continues to expand its efforts around CBDCs around the world. The DEA partnership with Ripple includes, but is not limited to, joint educational efforts around digital currencies and knowledge sharing.”

DEA President Jonas Gross said:

“We are delighted that, thanks to our partnership with Ripple, we are able to extend the technology experience of the DEA community. As more and more CBDC projects around the world reach advanced stages, the technological design of a CBDC will play a key role for policymakers in the near future, while previous years have mainly focused on research.”

Ripple also addressed the association in a tweet to his followers, saying that it was part of their overall goal to provide CBDC-related solutions on a global scale.

“We are excited to join the Digital Euro Association as a supporting partner to further develop our work with the CBDC!

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Uber CEO Recognizes Possible Integration of Crypto Payments

Uber Technologies CEO Dara Khosrowshahi recently made statements that the ride-sharing company will accept cryptocurrencies in the future as the industry becomes “environmentally friendly” and less expensive.

In an interview with Bloomberg, Khosrowshahi said that the company “at some point” will accept cryptocurrencies, but acknowledged that he still has reservations about it because the “cryptocurrency exchange mechanism is expensive”, adding that such a method is also “not good for the environment”. .”

Khosrowshahi says Uber is still evaluating integrating cryptocurrency payments for its ride-sharing services, which have a global presence.

“Will Uber accept cryptocurrencies in the future? Absolutely. At some point. This is not the right time, but we will.” Khosrowshahi notes.

The executive noted that Bitcoin, along with other cryptocurrencies, has become valuable over time. Khosrowshahi is known as one of the early advocates of Bitcoin. During his 12-year tenure at Expedia, a travel booking platform, Khosrowshahi made the platform one of the first major merchants to accept Bitcoin as a form of payment in 2014.

“I think now what we see with bitcoin and some of the other [cryptocurrencies] is that they are quite valuable as a store of value,” Khosrowshahi said. “As the exchange mechanism becomes less expensive and more eco-friendly, I think you will see us leaning a little more towards cryptocurrencies.” he adds.

Uber has not made any definitive statements on the matter, other than those mentioned by its boss. Since its inception, Uber has not made any moves in the crypto space. Notably, however, Uber co-founder Oscar Salazar moved into the cryptocurrency industry by founding Voyager, a cryptocurrency exchange, in July 2018.