Revolut announced its new Revolut X crypto trading platform for U.K. retail users, which it claims will offer fixed low fees and easy fiat-to-crypto conversion.
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Global fintech giant Revolut has unveiled Revolut X, a crypto trading platform specifically designed for professional traders, now available to UK retail customers. Since launching in 2015 and expanding into cryptocurrencies in 2017, Revolut has rapidly grown, with over 40 million users globally. Revolut X offers trading of over 100 tokens with fixed 0% maker and 0.09% taker fees, offering users seamless on/off-ramping and low fees, aiming to compete with leading crypto exchanges. It supports trading between fiat and crypto with no limits or fees for Revolut retail account holders.
The platform builds on Revolut’s previous crypto ventures, following its launch of Revolut Ramp in March, which allowed users to buy crypto directly into Web3 wallets through a partnership with Consensys. Revolut Head of Crypto Exchange Product Leonid Bashlykov emphasized the importance of competitive fees and accessibility for experienced traders.
Despite challenges in the regulatory landscape, particularly in the U.S., Revolut remains committed to expanding its crypto offerings, having recently ceased crypto trading services for U.S. customers while emphasizing that the decision does not affect global users outside of the U.S.
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A bullish wave sweeps through the Dogecoin (DOGE) ecosystem as a staggering 82.66% of its wallets now stand in profit. According to recent data from IntoTheBlock (ITB), out of a total of 5.21 million addresses, the majority are currently experiencing gains. This surge signifies a significant upturn in market sentiment, with DOGE holders reaping the benefits of the cryptocurrency’s recent price movements.
In contrast, only 13.5% of addresses find themselves at a loss, totaling around 850,400 wallets. However, optimism remains high among investors, as these losses could be reversed if DOGE’s price manages to climb back to the $0.183729 to $0.671001 range. Notably, approximately 3.83% of addresses hover around the breakeven point, holding their ground in the $0.150461 to $0.167839 price range. This remarkable shift in wallet profitability underscores Dogecoin’s resilience and its ability to align with broader market trends.
BitMEX co-founder Arthur Hayes believes the ongoing period of price consolidation in the cryptocurrency market presents an excellent chance to accumulate crypto before the next bull market phase. In an interview with Cointelegraph, Hayes emphasized that individuals with fiat and spare cash should consider investing in crypto during this stable period, as he expects inflationary monetary policies to soon propel Bitcoin and other cryptocurrencies to new heights.
Hayes foresees major economies worldwide increasing money supply significantly in the next 18 to 24 months. He believes this trend will fuel the next bullish run in the cryptocurrency market, particularly Bitcoin. Furthermore, Hayes predicts that the upcoming U.S. presidential elections will serve as a bullish catalyst, as financial authorities may ease monetary policies to bolster President Joe Biden’s re-election chances.
Historically, periods of monetary expansion have led to crypto rallies. Hayes notes that governments can easily print money, borrow, and distribute it in various forms, boosting the crypto market.