Category: TimeX Exchange

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Australia Crypto News TimeX Exchange

Australian Shping Coin now Supported for Trading on TimeX Exchange

Binance Australia to List Polkadot, Cardano, and PancakeSwap

One of the leading Australian cryptocurrency exchange, TimeX, announced on Wednesday it has added support for users to trade the native digital currency of Shping, a Melbourne-based innovative shopper marketing and brand protection platform.

This is perhaps, a milestone for the company and its millions of users, as more exchange listing would make the cryptocurrency more accessible, and also create room for adoption. 

Shping Coin now Listed on TimeX

According to the update from TimeX, the cryptocurrency is available for trading on the platform with two crypto-to-crypto trading pairs. These include SHPING/.ETHEREUM and SHPING/ AUDT. At the time of writing, the cryptocurrency was trading at the price of US$0.00003193 on Coinmarketcap. The Shping coin still has a low trading volume and market capitalization of $47,357 from a circulating supply of 1,483,041,697 coins.

This cryptocurrency was launched in the market in 2018 through the process of initial coin offering or ICO. According to the information provided by ICO Bench, the company behind the cryptocurrency bagged more than US$6.6 million from the offering.

When Coinmarketcap began tracking the Shping coin on October 11, 2018, it was trading at US$0.000313, which is lesser than the ICO price at US$0.0100. Meanwhile, the coin later reached an all-time high of US$0.0009726 on Coinmarketcap on May 12, 2019.

After reaching that peak, the crypto has been sliding, as seen in the chart below. 

Shping Coin Use Case

Shping runs a reward program for its users, which is powered using the cryptocurrency. With over 20 million supported products, the company basically allows customers to learn more about any product they wish to buy. By doing so, as well as performing other activities, they are rewarded with the Shping cryptocurrency, which can be converted to cash on exchanges.

Aside from TimeX exchange, the digital currency is also supported by exchanges like Coinbinhood, IDEX, and Livecoin.

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Australia TimeX Exchange

Aussie Bitcoin Exchange, TimeX Joins Top 100 Trading Platforms

Bitcoin Futures Perpetual Funding Rate Rises

TimeX, a Bitcoin exchange based in Australia, is now ranked as one of the top 100 largest global exchanges on Coinmarketcap, a digital currency tracking platform. This is quite a milestone giving that the crypto exchange barely launched over a year ago. It currently sees more millions of dollars in 24hrs trading volume than other long-running Aussie trading platforms such as CoinJar and Independent Reserve. 

TimeX is Growing to Prominence in Australian Crypto Market

Launched in July 2019, TimeX is a hybrid Bitcoin exchange running on the Ethereum Plasma technology. It supports the trading of Bitcoin, alongside other popular cryptos like Ether (ETH), Ripple (XRP), Litecoin (LTC), and others. Although the exchange has only lived for about a year and five months, it is garnering more trading volume in the Australian market daily than other older exchanges.

Per Coinmarketcap, TimeX sees a 24 hours trading volume of US$11.2 million from an 11 coin market. The estimated average liquidity is 77. A further glance at Coinpare shows that TimeX has a seven-day trading volume of US$24,999,918 and a 30-day volume of US$106,643,306. On these stats, the exchange ranks as the 98 largest trading platform on Coinpare and 97th on Coinmarkcap.

In terms of the 24hrs volume, TimeX surpassed Independent Reserve and CoinJar as they gained only US$5,187,835 and US$5,327,697, respectively. However, the exchanges still have a higher seven and 30 days trading volume than TimeX. 

Aussie Market Growth

The Australian crypto market has been thriving since the start of the year. Especially due to the Coronavirus pandemic, many exchanges witnessed more trading activities as many retail and institutional investors in the country considered investing in cryptocurrencies. Aside from the increasing volume on the exchanges, the number of Bitcoin automated teller machines (ATMs) in the country has also increased to 148, according to Coin ATM Radar. 

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Australia Crypto Exchange TimeX Exchange

TimeX becomes first Australian crypto exchange to list AMPL

Sydney company Chrono.tech’s flagship exchange now offers its traders the experimental new ‘adaptive base-money’ asset.

Sydney, 17 October 2020 –– Australian cryptocurrency exchange TimeX has listed Ampleforth (AMPL), a new form of digital asset that features a novel approach to mitigating the volatility for which crypto is notorious.

Developed by Sydney blockchain firm Chrono.tech, TimeX is one of the fastest-growing crypto exchanges to be based in Australia. Unlike conventional, first-generation exchanges, the hybrid platform uses both centralised and decentralised technologies to deliver a unique combination of benefits to its users, offering the security of blockchain settlement with the user experience of the best traditional trading platforms, along with privacy and high-speed order matching thanks to the use of Ethereum Plasma.

A new class of digital asset

TimeX is the first Australian exchange to list Ampleforth (AMPL), a project that has generated considerable buzz in the cryptocurrency space. Unlike bitcoin and other cryptocurrencies, which can be extremely volatile, AMPL aims to dampen volatility while remaining fully decentralised.

The low-volatility crypto asset space is dominated by stablecoins. Most of these – including the popular USDT and USDC – are backed by fiat reserves, held by a centralised entity. Others, like MakerDAO’s Dai, are decentralised but collateralised by digital assets. Ampleforth, which aims to reduce price fluctuations but does not aim to track the dollar precisely, takes neither of these approaches. Instead, its supply is adjusted by a smart contract in response to changing price in the market, thereby maintaining a balance with demand at any given time. 

‘Ampleforth is an intriguing and innovative new kind of asset that pushes the boundaries of what is possible in the blockchain and DeFi space,’ said Sergei Sergienko, founder and CEO of Chrono.tech. ‘With a radical new concept and technology, such a forward-thinking and potentially revolutionary project is the perfect match for TimeX, which itself has a strong track record of applying the latest blockchain developments to deliver benefits to the crypto world.’

AMPL can be traded on TimeX against USDT stablecoin.

About Chrono.tech

Chrono.tech is one of the foremost Australian blockchain initiatives. Founded in 2016, the company was launched to transform the HR and recruitment sector using blockchain-based technologies. Chrono.tech has developed a suite of initiatives in the crypto and HR space, including its decentralised freelance marketplace, LaborX; the TimeX exchange; cryptocurrency payroll service PaymentX; and the stablecoin AUDT.

About Ampleforth

Ampleforth was launched in 2019 by a team of software engineers, academics and crypto investors and enthusiasts. AMPL is an adaptive base-money cryptocurrency project that seeks to mitigate volatility by automatically adjusting supply in response to demand. As the price of the token on the open market moves up and down, according to oracles that post exchange data to the blockchain, the number of tokens held in each wallet is diluted or decreased, while the proportion of all tokens owned by each holder remains the same.