AAX Uncharted, Newsletter, 2 September, 2020 (short edition)
For Bitcoin to have recovered well above $10,000 USD so quickly was to be expected and perhaps therefore played out so smoothly – relatively speaking.
The quick recovery, which may not be free of a few setbacks as we proceed, shows a change in mindset among Bitcoin investors. Traders seem less panicked and there is more support for a long-term view underpinning the price.
But it seems as well that the speculative trading culture so familiar to our markets is now driving price movements in traditional markets as well, with high correlations recorded between Bitcoin and the US stock market. Coming Friday, do watch out for a special intelligence report on Bitcoin and the Nasdaq.
These few weeks, we’ve completed 3 successful AAB Flash sales, with the latest sale of 500,000 AAB completed in 57 seconds. Despite the recent downturn in the price of AAB, with so many activities ahead, we’re seeing more AAB deposits into AAB Plus accounts, indicating a growing culture of HODLing. And how can it be otherwise? If our users are bullish on AAX, AAB can thrive.
The next AAB Summer Flash Sale Round will take place in less than 21 hours! Learn more here.
What’s the latest?
To show our commitment to education in crypto, and for the benefit of our users, we have partnered with Trader Cobb to offer an exclusive 4-week webinar series by an experienced trader who has applied and tested his successful approach to trading for over 14 years. The course usually costs $400, but is now free to everyone who registers with AAX. Learn more here.
For those less intent on trading and more eager to play the long term game, do check out AAX Savings where we now offer savings packages for major crypto assets with double market interest rates. Check out the Vault here.
We are also happy to inform you that AAX will be adding wallet support for WBTC, USDC, YAMv2, UMA, CRV, YFI, BAND, MKR, SNX and POWR, with relevant markets and related DeFi-projects to be launched shortly.
Lastly, don’t miss your chance to share a pool of up to $25,000 USDT, by participating in the upcoming DeFi trading competition (from 16 Sept. – 30 Sept.)! Learn more here.