The centralized exchange (CEX) Hotbit, which is Hong Kong-based, has announced that it will halt its operations. However, what will happen to the five million users that are currently present on the platform?
Analysts have noticed that they are starting to migrate to Tradecurve (TCRV), an upcoming revolutionary trading platform currently in Stage 2 of its presale. But what makes this newcomer so appealing? Keep reading to find out.
Hotbit to cease all operations
Recently, the well-known cryptocurrency exchange, which has been in operation for more than five years, Hotbit, announced that it would end all operations on May 22, UTC 04:00. The exchange’s team detailed what was going on in a tweet that was sent recently, outlining the factors that led them to make the difficult decision to quit.
According to the Hotbit team, three reasons cause this end:
- A decline in the operational circumstances
- The crypto industry trend shift
- Uncertainty in the cryptocurrency market as a whole
These reasons are warranted as the sector has gone through many crises, including the demise of FTX, resulting in ongoing money withdrawals from CEX customers, including Hotbit.
Hobbit also announced that it is providing its customers one month to withdraw the remaining funds they have on it before closing down. While Hotbit is making its exit, new exchanges are emerging daily, intending to address this sector’s problems – one such exchange is Tradecurve (TCRV).
Tradecurve (TCRV) could become a top 3 global exchange
As Hotbit announced its closure, numerous users started looking for a new exchange that may offer a more technologically superior service, and some believe that Tradecurve (TCRV) is the perfect one. This decentralized hybrid exchange (DEX) will combine the best aspects of CEX, such as high liquidity, slippage-free trading, and fast speeds, with the best parts of DEX: self-custodial and on-chain assets.
While traditional trading platforms such as Robinhood and Coinbase focus solely on cryptocurrency and require sign-up KYC checks, Tradecurve will stand out from the pack as it will allow multiple asset classes such as forex, cryptocurrencies, stocks, and commodities to be traded on a single account that does not require any KYC. Users will be able to trade in complete anonymity as they will need to create an account with an email only, link it to their crypto wallet, and make a deposit.
Tradecurve will also include special features, including automated trading and artificial intelligence (AI) bots, negative balance protection, a metaverse trading academy, and copy trading, allowing users to mimic experienced traders’ actions for a subscription fee. Building on the Ethereum blockchain will also eliminate any third-party mediators, meaning low fees and all asset control will be given to the traders. They can also deposit cryptocurrency as collateral to trade leveraged financial instruments.
Investors are backing this upcoming platform by buying its utility token, TCRV, which is currently in Stage 2 of its presale and has a value of just $0.012. Holding this token will bring governance voting rights, discounts on subscription fees, and access to exclusive trading account rewards.
Analysts remain bullish for TCRV as they predict it may increase by 50x as the presale gains more attention and by 100x when the token gets listed on a well-known Tier-1 CEX like Uniswap after it launches. And with millions of tokens sold and a 20% price increase already, this valuation does not seem so ludicrous. If you want to become an early investor in this potential top 3 exchange that aims to outperform Huobi and Robinhood, sign up for the presale below.
For more information about TCRV presale tokens:
Buy presale: https://app.tradecurve.io/sign-up
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