Fidelity’s Wise Origin Bitcoin Trust and the First Trust SkyBridge Bitcoin ETF are now under review by regulators, according to paperwork filed earlier this month.

A pair of Bitcoin (BTC) ETF applications submitted by Fidelity Investments and SkyBridge Capital are under official review by the United States Securities and Exchange Commission, or SEC, reigniting a long-standing debate about whether regulators will finally approve America’s first crypto-focused ETF.

The SEC’s formal review of Fidelity Investments’ application was documented in a May 25 filing that appeared on the regulator’s website. The formal review of the SkyBridge application was outlined in a May 21 filing.

Both ETF applications were submitted in March. As Cointelegraph reported at the time, Anthony Scaramucci’s SkyBridge Capital partnered with investment adviser First Trust Advisors to develop a product that seeks to list shares on the New York Stock Exchange Arca.

The Fidelity application describes an ETF product that tracks Bitcoin’s daily price movements using a proprietary index derived from several price feeds.

U.S. securities regulators now have six ETF applications on the docket for review. A decision on the VanEck application is expected next month.

The SEC has yet to approve a single Bitcoin ETF, citing concerns over price manipulation and volatility. Proponents of a Bitcoin ETF believe this time will be different given the growing maturity of the asset class. It’s believed that a Bitcoin ETF would provide easier institutional access points to the digital asset market, which could be a boon for price and adoption.

North of the border, Canadian lawmakers have approved multiple Bitcoin ETFs. The Purpose Bitcoin ETF, which trades under the ticker symbol BTCC, accumulated $1 billion in assets under management less than two months after launching.

Bitcoin Pizza Day is an event that celebrates the first-ever Bitcoin purchase, which was made more than ten years ago. This year, it took place on Saturday, May 22.

What Is Pizza Day?

In 2010, one of Bitcoin’s earliest users, Laszlo Hanyecz, paid for two pizzas by negotiating a delivery with another user on the BitcoinTalk forums.

“I’ll pay 10,000 BTC for a couple of pizzas…maybe 2 large ones, so I have some left for the next day,” Hanyecz wrote. “You can make the pizza yourself and bring it to my house or order it at a home delivery place, but what I want is to have the food brought to me in exchange for bitcoins where I don’t have to order or prepare it myself.”

At the time, 1000 BTC was worth $25, enough for two pizzas ordered from Papa John’s. Since then, Bitcoin Pizza Day has become a yearly event, with various companies and organizations running promotions and giveaways to commemorate the date.

Pompliano Launches Bitcoin Pizza

Celebrity Bitcoin investor Anthony Pompliano has announced a one-week service called Bitcoin Pizza. Users who order through the site will receive a pizza from various local pizzerias in a specially branded “Bitcoin Pizza” cardboard box.

Part of each purchase made through Bitcoin Pizza will go to the Human Rights Foundation and its Bitcoin Development Fund, which supports crypto developers.

Slice & PizzaDAO Offered 2500 Free Pizzas

Pizza delivery network Slice has teamed up with the blockchain community project PizzaDAO to give away more than 2,500 free pizzas.

The offer is valued at about 1 BTC ($55,000) in total and has been funded through sales of cryptocollectibles (NFTs) created by the PizzaDAO collective.

To get a free pizza, users entered the code “FREEPIZZADAY” in the Slice app on May 22nd.

Papa John’s UK Gave Away Crypto Rewards

Ahead of Pizza Day, Papa John’s UK is offering its customers a chance to claim free Bitcoin with large purchases. Customers who place an order valued at more than £20 are able to claim £10 in free Bitcoin as a 50% discount.

Users must claim their Bitcoin by entering their reward code in Luno, a Bitcoin trading app. This offer was valid until May 23rd, 2021.

Additionally, Papa John’s locations in Jacksonville, Florida are giving away slices of Bitcoin-themed pizza on Pizza day with a chance to win a whole pizza.

Binance Rana a $52,000 Trading Contest

Crypto exchange Binance has announced a trading contest themed around Pizza Day. Users will need to collect “special ingredients,” which will be distributed to users who trade-specific cryptocurrencies or promote the event on social media.

Users who complete their “ingredient” collection will be entered in a draw. 200 winners will win $50 of BTC, and 20 winners will receive $20,000 of BTC. Qualifying users who do not win either draw will claim a share of a $22,200 Bitcoin prize pool.

Binance has also created a limited-edition series of pizza-themed NFTs. Eligible users will be randomly drawn to receive an NFT as part of a “lucky draw.”

Huobi Ran a $5000 Reward Airdrop

In celebration of Pizza Day, crypto exchange Huobi ran a three-day giveaway. To commemorate 5/22 (May 22), $522 worth of Bitcoin will be given to three individual winners. The remaining winners will each get $10 in Bitcoin.

In partnership with Huobi, the crypto firm Thundercore also gave away a series of Pizza Day NFTs. Between May 14 and May 22, users can enter the draw by engaging with Thundercore and Huobi Global on social media. Twenty users will be selected.

Phemex Ran a “Find Pizza Guy” Campaign

Crypto exchange Phemex also ran a contest. The exchange invited Laszlo Hanyecz to use its Earn Crypto service and generate interest on his investment.

However, Phemex says that it has been unable to contact Hanyecz; as such, it is asking the community to help recruit him via social media. Phemex will split $100,000 worth of Bitcoin between 100 participants. Phemex hoped to contact Hanyecz by May 22.

YouHodler Gives Away Tesla

Crypto loans site YouHodler also participated in Pizza Day: customers who spent more than $1000 on the service had a chance to win a Tesla Model Y.

Though the reward is not pizza-themed, the draw was live-streamed on May 22 in order to commemorate Bitcoin Pizza day.

Ballet Wallet Gives Away Keychains

The Bitcoin “metal wallet” company Ballet ran a Pizza Day promotion this year. Between May 10 and May 25, all wallet purchases came with a special pizza-themed keychain. Users could also buy a pizza-themed metal wallet from the company.

Ballet also gave away virtual tickets to a virtual webinar, which took place on May 22. Additionally, individuals who reside in Shanghai can attend the event in person and receive free pizza and refreshments.

Is There More to Come?

This article only covers promotions that were announced in advance of Pizza Day 2021. Other groups announced further events on Pizza Day itself. Watch for more announcements on Twitter via the hashtag #pizzaday.

Trading volume in crypto markets can be a key indicator of price volatility — but is there a direct correlation that traders can use to help inform their investment decisions?

Trading volume — the amount of an asset that changed hands over a given period — is one of the key metrics that investors use to track price trends and assess the market outlook for a specific coin in terms of liquidity and trader activity.

The ranking below zooms in on the fortunes of five coins that have had the greatest increase in average daily trade volume this month compared to the month before. Most of them — although not all — emerged as massive winners in terms of their monthly returns, but the relationship between the price and trading was not always what you’d expect.

The data from Cointelegraph Markets Pro platform sheds further light how these two indicators can influence each other.

Along with multiple other quantitative metrics, trading volume is at the heart of the VORTECS™ Score — an algorithmic comparison of historic and current market conditions derived from billions of data points gathered and analyzed by a proprietary machine learning model.

Polygon (MATIC ): +643.79%

Capitalizing on the sprawling activity in the DeFi sector and the expansion of the number of projects springing up on its platform, Polygon has had a fantastic month, conquering one all-time high (ATH) after another. The coin delivered 329% vs. USD and 456% vs. BTC alongside a 643% increase in average daily trading volume.

The trading volume dynamics faithfully followed each price uptick, reaching an impressive $11 billion on May 19. On that day, MATIC was responsible for as much as 4.5% of the crypto market’s overall trading volume.

From the look at the VORTECS™ score chart, it becomes apparent that trading volume spikes have been an essential component of each ultra high-score stretch that MATIC sported this month (red circles in the graph). These dark-green sequences, in turn, foreshadowed each new leg of the coin’s powerful rally.

Ethereum Classic (ETC): +229.23%

A legacy chain of the original Ethereum that has been abandoned by much of the community in the wake of the 2016 the DAO heist, ETC has a small but enthusiastic fanbase and a reputation of a network lacking security.

Observers are divided on what exactly triggered ETC’s 300% price run, closely followed by surging trading volume, in the first week of May. Opinions range from users suddenly seeking cheaper alternatives to the main Ethereum network to new investors mistaking the coin for its better-known cousin.

At any rate, at the height of its May 6 rally, ETC commanded a shocking 15.9% of the crypto market’s overall trading volume — not too bad for a coin that has risen from years of oblivion.

Going by the VORTECS™ chart, not only ETC’s showing was unexpected – it was historically unparalleled. The combination of market and social conditions that preceded the coin’s blast-off was not similar to those that systematically came before ETC’s price leaps in the past, as evidenced by largely neutral VORTECS™ Scores.

Telcoin (TEL): +507.8%

Telcoin, a global remittance platform whose token appreciated by 437% against USD and 600% vs. Bitcoin over the past month, owes at least some of its success to Polygon’s fiery run. The likely reason behind TEL’s surge in early May has been a layer-2 migration to the lower-fee Polygon network and the token’s subsequent listing on QuickSwap that opened attractive terms for liquidity providers.

As visible in the graph, it was the QuickSwap moment that produced the greatest increase in TEL’s trading volume rather than the even bigger price hike that followed a few days after.

It was the same surge in trading activity between May 2 and 8 that the VORTECS™ algorithm picked up and, in conjunction with other constituent metrics, deemed worthy of a series of high VORTECS™ Scores that began flashing around three days before the final leg of the price hike.

iExec RLC (RLC): +1,153.62%

RLC, the native token of cloud computing platform iExec, demonstrated the greatest month-to-month growth in average daily trading volume, adding an astounding 1,153% compared to the previous 30-day period. The coin’s price began picking up following the May 4 announcement of a Coinbase Pro listing and was boosted even more by a cascade of further exchange listings, big-name partnerships and collaborations, as well as the announcement of a developer rewards program. Over the month, RLC delivered 200% gains against USD and almost 300% against Bitcoin.

As the chart supplied by data analytics firm The TIE suggests, on May 8 and early May 9 the trading volume indicator mirrored the steeply upward price movement with a few hours’ lag. The two lines then effectively merged, indicating that further increase in trading volume was no longer driven solely by price action, but began responding to the news and heightening sentiment around the coin independently.

As visible in the graph, RLC’s VORTECS™ score had been neutral (yellow) in the days preceding the coin price’s spike, and briefly turned moderately bullish (light green) as the rally unfolded. However, when both the price and trading volume peaked, the VORTECS™ Score went from bullish back to neutral (red boxes in the graph), meaning that in the past such concerted upticks in both price and trading volume were not followed by price consistently going up or down.

In summary, RLC’s run this month did not have clear historical precedents in terms of market and social activity regularities that VORTECS™ score could capture. Rather, it has been driven by a series of bullish news announcements. This is where another element of Markets Pro functionality, NewsQuakes™, comes into play: In the same graph, it is plain to see how two listing announcements, on Coinbase Pro and Bithumb (red circle in the chart), came shortly before the rally.

OKB Token: +253.28%

The average daily trading volume of the OKEx exchange token, OKB, grew by more than 250% this month. However, this fact did not translate to a corresponding increase in the utility token’s price: Over the same 30 days, OKB lost 18.76% against USD and gained a mere 4.89% against the beleaguered Bitcoin.

A look at the token’s price vs. trading volume chart offers some explanation of this discrepancy. While trading volume largely mirrored price movement in the first half of the month, the two starkly diverged around May 19 and 20, around the time of the market-wide slump. As the price declined, the trading volume shot up.

This key to this seemingly paradoxical dynamic lies in the nature of the asset. In a bid to keep the value of the token high, every three months OKEx reduces OKB supply by buying back burning a few million coins. As the current burning period is set to expire at the end of May, some traders likely wagered on OKB staying afloat thanks to the guaranteed buyback liquidity when other digital assets were in a tailspin. Indeed, a surge in trading volume did support a brief rebound, yet it could only be sustained for a couple of days before the asset began sliding down again.

Note how the VORTECS™ algorithm remained unfazed by the May 20 increase in trading volume as the score remained neutral. A constantly learning model, it has surely seen such token burn-inspired spikes before — and apparently, in the past these spikes didn’t always spell significant price increases.

Any single metric describing an asset’s market outlook can be uninformative or even misleading on its own, yet it becomes exponentially more useful when contextualized within the recurring patterns of the VORTECS™ algorithm’s other metrics (which include price action, sentiment, and tweet volume).

Cointelegraph Markets Pro is available exclusively to members on a monthly basis at $99 per month, or annually with two free months included. It carries a 14-day money-back policy, to ensure that it fits the crypto trading and investing research needs of subscribers, and members can cancel anytime.

Cointelegraph is a publisher of financial information, not an investment adviser. We do not provide personalized or individualized investment advice. Cryptocurrencies are volatile investments and carry significant risk including the risk of permanent and total loss. Past performance is not indicative of future results. Figures and charts are correct at the time of writing or as otherwise specified. Live-tested strategies are not recommendations. Consult your financial advisor before making financial decisions. Full terms and conditions.

Though Danmarks Nationalbank’s governor seems tempted to ignore cryptocurrencies, other banks in the country continue to launch new services based on crypto.

Crypto trading volumes continue to increase, but several countries’ central banks are keen to ignore it, with Denmark being the latest to join the “crypto is negligible” narrative. Lars Rohde, governor of the country’s central bank doesn’t see the rise of crypto trading as a serious economic threat. 

“I could be tempted to ignore it,” he told Bloomberg. “I think the term currency is badly used here. Most currencies store value or are means of transactions. There is no stability, no guarantee about the value of cryptocurrencies.”

Crypto is a speculative asset at best, he added.

When asked about the central banks’ moves to reduce speculative rivalry from crypto, he admitted he is more watchful of major tech companies’ moves in the payments field. Big tech’s invasion of the currency area is much more interesting, he opined.

“If tech giants get a hold on the means of transaction, then that could be a real threat to the autonomy and independence of central banks.”

Denmark was one of the earliest countries to explore the possibility of a central bank digital currency, or CBDC. The Danmarks Nationalbank discarded the idea following a one-year study from 2016 to 2017, deciding that a CBDC solution would do little to improve the current financial infrastructure of the country.

The central bank’s opinions don’t seem to have had much of an affect on other banks in the country, however. This week for instance, Denmark’s Saxo Bank announced that they are launching a new crypto FX product. This will enable users from the Middle East and North Africa, or the MENA region, to trade major cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Litecoin for fiat currencies from a single margin account.

Other central banks around the world have voiced different takes on cryptocurrencies. The Central Bank of Kuwait issued a warning on crypto usage last week, while Canada’s central bank said it considers Bitcoin and other crypto-assets to be high risk “because their intrinsic value is hard to establish.”

De Nederlandsche Bank NV, the Dutch central bank, took a neutral stance on crypto trading in a recent statement which noted, “A crypto does not represent anything. It’s not a share in anything. It’s not a loan which is returned with interest.”

NatWest issued a crypto scam warning to mobile banking users after reportedly receiving a record number of complaints in Q1.

The U.K bank with the worst record for dealing with scam complaints has issued a cryptocurrency scam alert.

NatWest, which was rated as the worst U.K bank for accurately discerning legitimate fraud complaints in 2020, sent the warning to users of its mobile banking app after it reportedly received a record number of scam reports between January and March 2021.

The warning made particular note of one type of scam which involves hackers installing remote access software on a victim’s computer or hardware. The trick usually sees criminals winning a victim’s trust online, either by posing as an experienced trader, or pretending to be a celebrity, according to reports. The victim is then persuaded to install a cryptocurrency wallet and is urged to invest. After a certain amount of crypto is sent to the wallet, the criminal empties it via the malicious software they installed.

Head of fraud prevention at NatWest, Jason Costain, said increased interest in cryptocurrency had created an opportunity for criminals to exploit, and urged customers to be wary of fake websites and celebrity endorsements.

“We have prevented millions of pounds from being sent to crypto-criminals who are exploiting the high levels of interest in the currency. However, consumers should always be alert, especially to the use of fake websites and bogus celebrity endorsements,” said Costain.

Ironically, data from the U.K’s financial ombudsman for the year ending May 2020 revealed NatWest to be the worst bank for accurately dealing with fraud complaints from its customers.

According to the data, almost 70% of NatWest’s adjudications in such instances proved to be wrong between 2019 and 2020, as evidenced by the fact that the national regulator went on to have the decisions overturned. One year earlier, the figure was as high as 87%.

1inch Wallet users can now purchase DeFi assets through Mercuryo’s fiat onramp gateway.

Decentralized exchange aggregator 1inch Network has partnered with Mercuryo, a cross-border payment network, to provide its users with a more seamless gateway to DeFi — potentially opening up the market to greater adoption. 

“To date, some users have been discouraged from entering the DeFi space because most of the existing options for buying crypto are too complicated and inconvenient,” said Sergej Kunz, co-founder of the 1inch Network, adding:

“The integration between 1inch and Mercuryo offers everyone a user-friendly way to enter the space, buy crypto with fiat and begin trading or securely hold their assets.”

Petr Kozyakov, Mercuryo’s CEO and co-founder, said his company has seen “great demand” for fiat onramp solutions to DeFi:

“It’s not possible to ignore DeFi if you look at how fast the industry is evolving. We see great demand from our users and partners to enable fiat-on-ramp solutions for DeFi enthusiasts. And we are proud to be integrated into the 1inch Wallet, as we value the power of its supportive community.”

The 1inch Network has been in the headlines recently after expanding into Polygon — a move that opened up additional liquidity sources and higher throughput for its users. On Apr. 27, 1inch also launched a new mobile wallet on Apple iOS, enabling users to instantly swap tokens on their mobile devices.

DeFi continues to be one of the hottest segments of the cryptocurrency market. Despite the recent market downturn, the DeFi sector accounts for nearly $126 billion in total value locked, according to latest industry figures. That number peaked well north of $160 billion earlier this month. The total market capitalization of DeFi projects is now worth more than $107 billion.

Even though it requires traders to spend a lot of time in day trading, the benefit involved is always enormous. There’s no doubt that you have been searching for a proper guide for day trading on popular sites like YouTube, articles, and guides all around the internet, without any lucrative information yet. You can now rest assured that you’re in the right place. 

Beginning going further you will need to have an account with a reputable broker before venturing into day trading and if you don’t have one, you should make use of ETX Capital. Day trading is a high-risk investment that can either result in a massive gain or a loss. It’s a close alternative to investing in stocks and shares. The high volatility market of day trading makes it riskier than other types of investment. This affects the investment costs as well as its benefits.

A risky investment like day trading should only be performed by experienced investors with a professional trading background. And before investing in day trading, you should endeavor to make use of an amount you’re willing to lose.

With this beginner’s guide, you will still have a basic knowledge of trading to avoid losing your capital. And one thing you should also keep in mind is that it’s not everybody that can benefit from day trading. If you find it hard enough to understand and invest in it, you should take a look at other investment options like buying Shares, Stock, and an ETF.

Day Trading

Day trading involves the buying and selling of financial assets in a short time frame. This process can take seconds to a few hours. What type of financial assets can you purchase and resell? You can buy and sell financial assets like Stock or Shares, digital currencies on the forex market, Bonds, and other digital commodities.

You can purchase the asset as direct holding or derivatives, which have a different meaning. Direct holding is an asset that is directly owned by you, while derivatives are shared assets that you own like contracts and options. To become a day trader, you have to specialize in a single type of investment without switching to other alternatives. If you want to trade stocks, you can only trade stocks by having to buy shares or trade gold. In the Finpari review here, there’s a lot of information for utilizing a broker trade forex.

Why Do People Prefer Day Trade?

A lot of people participate in day trade because of the huge benefit involved. As a day trader, you need to be disciplined, with an intellect of analyzing, and trading appropriately. You need to be able to make risky investment decisions that will benefit you in generating better returns.

As a day trader, you won’t be subject to working 9 to 5 anymore because you only trade when you want to. There’s no boss ordering you to adjust your work schedule based on their preference. You are your own boss now. You work independently based on your schedule.

For people who know what they are doing, day trading can be a lucrative career for making a living. You have the opportunity to trade anywhere or in any location. If you have been dreaming of working from the park, beach, and other awesome places, day trading is what you need. As a beginner to day trading, you can make use of FP Markets brokers to venture into the trading world.

Conclusion

Unlike other forms of trading, day trading is a very demanding and lucrative type of investment. Even though it requires traders to spend a lot of time in day trading, the benefit involved is always enormous.