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Inside LBank’s derivatives trading update

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Inside LBank’s derivatives trading update

Global crypto exchange LBank launched a new user system for trading derivatives on the 27th of December. The exchange’s tech team goes over some of the neat details of the update and further upcoming changes.

Why this matters?

Top crypto exchanges are constantly striving towards a more optimal user experience for trading cryptocurrencies and other digital assets. Certainly, the derivatives market, which has become critical to the crypto industry, could do with a bump in user experience quality.

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LBank’s new industry-leading derivatives system promises a 24/7 user-centric and stable experience, which includes:

  • The new system update for LBank’s derivatives products included more flexible trading options, functions to stop losses and manage profits, more comprehensive data charts, and a safety increase for assets.
  • Derivatives on LBank are primarily made up of perpetual contracts, which are crypto future contracts without an expiry date. Traders can also employ stablecoin Tether (USDT) to flexibly adjust leverage and margins after opening long or short positions.
  • The new derivatives system’s engine can process massive orders per second with a minimal latency of only 5 milliseconds. A wide range of popular operating systems was made compatible, so users can trade anywhere and from any device.

Go deeper

Derivative products for portfolio investments are next on LBank’s roadmap.

  • The new derivatives trading system marked a huge milestone for LBank’s tech team. “After half a year of hard work and tons of feedback sessions with users, we are very excited about the final product. We believe the update matches the growing need for a user-centric crypto derivatives platform and LBank’s philosophy to drive innovation in the industry”, the team shares.
  • A dedicated service team will help users with trading problems in a timely manner and gather user feedback for the tech team.
  • Next in development are optimizations to trading pairs and settlement contracts, as well as brand-new derivative products that will allow unified accounts of multiple users to make portfolio investments. 

Disclaimer: This is a paid post and should not be treated as news/advice.

Ishika is a graduate of Political Science from the University of Delhi. From writing content as a hobby to now pursuing it as a professional career, she has been living and breathing content all her life. Her interests lie in making sure articles are very digestible to a common reader, despite all its technicalities and jargons.

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Monero [XMR]: Can bulls defend $163 support level as bears take over

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Monero [XMR]: Can bulls defend $163 support level as bears take over

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.

  • XMR formed a descending channel pattern. 
  • Investors were strongly bearish on XMR as Open Interest (OI) fluctuated. 

Monero’s [XMR] press time plunge was likely because of an increasing divergence in key technical indicators. XMR dropped by over 6% in the past seven days, as per Coingecko’s data.


Read Monero [XMR] Price Prediction 2023-24


At press time, its market was still weak as bears had more leverage. However, the asset was approaching a crucial support level. 

The $163.8 support level: Can it hold the drop?

Source: XMR/USDT on TradingView

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The increasing RSI (Relative Strength Index) and volume divergence from mid-January signaled February’s price correction. The RSI and volume dropped while the XMR price surged, painting a bull trap ripe for a correction. So far, XMR has fallen from $186 towards the end of January to $165 at the time of writing. 

Monero could drop further and break below the crucial $163.8 support level. However, the drop could be checked by the $157 or $154 support levels. 

But bulls could attempt a recovery if the $163.8 support holds, invalidating the bearish bias described above. The rebound could target the upper boundary of the descending channel. However, traders can only make long entry positions if a break above and retest on the upper channel’s boundary is confirmed. Such an upswing would target the $180 zone. 

Nevertheless, the market weakened further, as shown by the dropping RSI and fluctuating volume (OBV). Therefore, bulls may have difficulty regaining control at the $163.8 level.

Investors were bearish on XMR as OI fluctuated

Source: Santiment

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According to Santiment data, investors were strongly bearish on XMR, as shown by the negative sentiment. In addition, the demand for the asset in the derivatives market has been fluctuating, limiting its strong uptrend momentum in the past few days/weeks. 

If the fluctuation in demand continues, XMR could face an extended price correction and a devaluation below the $163.8 price level. 


Is your portfolio green? Check out the XMR Profit Calculator


In addition, the open interest rate data by Coinglass further reinforces XMR fluctuations. More money moved from XMR’s futures market around mid-January. Afterwards, the OI fluctuated, undermining a strong uptrend momentum or recovery. 

Although the dropping OI momentum reduced at press time, a convincing price recovery could follow BTC’s bullish price action. Therefore, investors and traders should monitor the king coin price movements. 

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Source: Coinglass

Ser Suzuki Shillsalot has 8 years of experience working as a Senior Investigative journalist at The SpamBot Times. He completed a two-hour course in journalism from a popular YouTube video and was one of the few to give it a positive rating. Shillsalot’s writings mainly focus on shilling his favourite cryptos and trolling anyone who disagrees with him. P.S – There is a slight possibility the profile pic is AI-generated. You see, this account is primarily used by our freelancer writers and they wish to remain anonymous. Wait, are they Satoshi? :/

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ADA price action

Cardano approaches critical resistance level of $0.42: Bulls to witness more gains?

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Cardano approaches critical resistance level of $0.42: Bulls to witness more gains?

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.

  • The higher timeframe market structure remained strongly bullish.
  • The $0.4-$0.42 is an important region of resistance- but ADA is likely to push higher.

Cardano [ADA] bounced from $0.38 to reach the $0.4 level of resistance over the past three days. Its technical structure remained bullish on the one-day timeframe – a move above $0.4 and subsequent retest could be a buying opportunity.


Is your portfolio green? Check the Cardano Profit Calculator


The increase in whale transactions saw a significant increase after 3 February. This raised concerns that buyer dominance was weakening.

Any pumps into the $0.42 area will be to take profits on

Source: ADA/USDT on TradingView

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Cardano has seen a remarkable run so far. A jump above $0.31 and the subsequent retest of $0.32 saw the support on the daily market structure decisively broken. The bias remained bullish, although the RSI continued to drop lower to show weakened bullish momentum.

This was because ADA encountered a stern band of resistance around $0.4. It is an important higher timeframe horizontal level. The $0.425 level acted as support from May to October 2022. Beneath it, the $0.4 and $0.376 levels also acted as important support and resistance levels in October and November.


How much is 1, 10, 100 ADA worth today?


Therefore, ADA bulls late to the party must recognize that the meat of the move upward is finished. Lower timeframe scalps within the $0.4-$0.42 region is possible. Longer-term buyers can wait for the flip of $0.42 to support before bidding and must be ready to cut the trade on a drop below $0.4.

The rising OBV meant some demand was present behind ADA. Above $0.42, $0.51 and $0.6 are the next high timeframe levels to watch out for.

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Sentiment has been lukewarm in February

Weighted sentiment fell below the zero mark as February 2023 began and hasn’t recovered since. The MVRV ratio (30-day) also tumbled, but the price did not see a significant sell-off. This hinted that near-term holders might have finished booking profits, and selling pressure could soon abate.

The development activity was unaffected by the higher price swing, which should encourage long-term holders. The age-consumed metric saw a swift spike in early February when ADA pulled back from $0.413.

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AVAX crosses above downtrend line – is a recovery sustainable

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AVAX crosses above downtrend line – is a recovery sustainable

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.

  • AVAX recovered slightly above a key short-term downtrend line. 
  • The sentiment was positive, but AVAX faced a price rejection at press time. 

Avalanche’s [AVAX] recovery could be limited despite improved investors’ confidence. The asset recently dropped from a high of $22.8 to a low of $19.4, a 14% plunge. The drop happened after Bitcoin [BTC] temporarily lost the $23k zone. 


Is your portfolio green? Check out the AVAX Profit Calculator


Bulls launched an impressive recovery attempt, but their efforts seemed unsustainable, as suggested by technical indicators. 

AVAX faced price rejection at $21.04

Source: AVAX/USDT on TradingView

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Bulls inflicted a bullish breaker after finding steady support at $19.50. The momentum saw AVAX break the resistance at $19.81 and a convincing cross above the downtrend line, which flipped the short-term market structure to bullish. 

However, the price rejection at $21.04 set the bulls back. AVAX could settle on the seven-period EMA of $20.52 or $20.40 support levels before returning to retest the 21.04 level. 

However, if BTC lost the $23k zone, AVAX bears could devalue the asset below $20.40 and 26-period EMA in the next few hours. The extended plunge would invalidate the bias described above. But the drop could settle at $19.81 or the downtrend line. 

The Relative Strength Index (RSI) and On Balance Volume (OBV) registered a downtick, indicating that bulls could be undermined in the short term. 

AVAX recorded improved investors’ confidence, but…

Source: Santiment

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As per Santiment’s data, AVAX recorded improving investors’ confidence from 5 February, as evidenced by the flipping of weighted sentiment from negative to positive. Notably, the investors’ outlook could have been boosted by the rising development activity in the same period.

It showed that investors felt assured by the network’s prospects, which was also reflected in a surge in price.


Read Avalanche’s [AVAX] Price Prediction 2023-24


However, the Funding Rate was relatively flat in the same period. Despite being positive, the lack of more demand for the asset in the derivatives market could undermine the strong uptrend momentum needed to bypass the price rejection level at $21.04.  

Therefore, AVAX recovery momentum could be limited, and traders should watch for the price rejection level at $21.04 alongside BTC’s price action.

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Ser Suzuki Shillsalot has 8 years of experience working as a Senior Investigative journalist at The SpamBot Times. He completed a two-hour course in journalism from a popular YouTube video and was one of the few to give it a positive rating. Shillsalot’s writings mainly focus on shilling his favourite cryptos and trolling anyone who disagrees with him. P.S – There is a slight possibility the profile pic is AI-generated. You see, this account is primarily used by our freelancer writers and they wish to remain anonymous. Wait, are they Satoshi? :/

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