Bitcoin continues to be volatile this week. At one point it fell to $18,500, only to rise to $20,700 on Friday. Ethereum is on its way up to recover 10% of its recent decline. At the time of writing, Ethereum is trading at just over $1700, up over $200 from the mid-week lows.
The final phase of the Ethereum "Merge" is still about a week away. It is currently expected to take place around September 15. The merge will transform Ethereum from a proof-of-work to a proof-of-stake mechanism that is far less energy intensive and eliminates the need to mine Ether tokens, making Ethereum a deflationary token.
Please note that many platforms are stopping Ethereum deposits and withdrawals as we approach the "Merge", so make sure you plan ahead.
Binance announced this week that it is eliminating the stablecoin markets for USDC, USDP and TUSD on September 29. It plans to introduce a BUSD auto-conversion for users that will convert existing balances of the above stablecoins and new deposits to BUSD at a 1:1 ratio.
This will not affect withdrawal options. Users will still be able to withdraw funds in USDC, USDP, and TUSD at a 1:1 ratio to their BUSD account balance. This move by Binance will improve the liquidity of its BUSD pairs and capital efficiency for users, the platform said.
Index vaults are performing well, with six out of nine in the green. ETH vaults are still the best performing index vaults, and the best trader-managed index is currently Eralpbuyukaslan, as seen below.
FNDZ index vaults are a great way to DCA into the crypto market and reduce your risk. Discover more here
We currently have 23 trader vaults open, which is an increase of almost 50% from last week. Some of the vault owners have started trading now that the market has reached their preferred entry points. Fireytrading is currently leading the pack as seen in the table below.
The staking pool is still strong with 7.3 million FNDZ tokens in the pool earning rewards. This is more than 29% of the total circulating supply and the APY is 6.33% at the time of writing.
Want to win $5,000 in FNDZ tokens? Join the trader competition and become a champion!
We are holding a trader competition for everyone who wants to win big and earn praise. The competition was originally planned to run through September but due to market conditions, we have now extended it until November 30th!
There are $10,000 FNDZ tokens up for grabs!
You can now win $1,250 in FNDZ tokens when you refer your friends!
The competition is now live! We’ve got a prize pool of $5,000 tokens for five lucky winners.
The more friends you refer, the higher your score!
Do you know any crypto communities that could benefit from starting their own index vault?
Feel free to reach out to the team if you know any traders, blockchain projects or communities that could benefit from starting a FNDZ vault.
And don’t forget to spread the word about FNDZ - The Home of Copy Trading!