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Matrixport Launches ‘BTC-U Range Sniper’ – Up to 200% Returns for Accurate Predictions – Finance Bitcoin News

Financial asset services platform Matrixport has introduced several new products as the firm raised $100 million in a Series C financing round during the first week of August. Following the launch of the company’s “ETH2.0 Staking Earning” earnings service, Matrixport has introduced another service product called the “BTC-U Range Sniper”, which allows traders to trade when the value of bitcoin moves within a specified price range. Allows to earn high returns.

Matrixport Launches Ether Staking and Range Sniper Bitcoin Product

Singapore-based Matrixport is unveiling a slew of new products after the company raised $100 million last month. On August 25, the startup launched its “ETH2.0 Staking Earning” earnings service, which offers Ethereum (ETH) staking at a “low threshold”.

The product allows customers to “earn yields from Ethereum lock-up rewards, as well as benefit from additional token rewards, mining revenue, and improved liquidity from related tokens.” [decentralized finance (defi)] projects.” On September 6, Matrixport revealed another new service called “BTC-U Range Sniper”.

BTC-U Range Sniper participants can earn annual returns “between 6% and 200% in USDT/USDC or BTC” depending on the price of bitcoin (BTC) at the time of settlement.

There are three ways Range Sniper traders can settle. Either by earning a minimum of 6% APY if the settlement price is above the specified limit, or if it is below the specified limit, “the principal will be converted into BTC with a minimum guarantee of 6% APY.” Finally, if the chosen settlement price is at the point and falls within the range, an investor can earn up to 200% in USDC.

Matrixport Executive: Range Sniper Allows People to ‘Ride Bitcoin’s Effortless Volatility’

John Gee, co-founder and CEO of Matrixport, pointed out that the Range Sniper product can be as profitable as a stablecoin. GE commented, “Stablecoins are an important fiat on-ramp pathway and have been a great entry point for the crypto-curious.”

“However,” said the Matrixport executive, “many stablecoin holders now want to deposit BTC while earning higher yields. ‘BTC-U Range Sniper’ is a user-friendly crypto investment product where we offer users attractive stablecoin returns. Empower you to ride the smooth volatility of BTC to earn or deposit more BTC.”

Matrixport calls itself a “one-stop crypto financial services” company and the startup clarifies the details of its services with “$5 billion in monthly trading volume.” The company competes with several exchanges that offer crypto options and perpetual swap products such as Deribit, OKEx, LedgerX and CME Group.

According to Skew Analytics, exchange Deribit is at the top spot as far as bitcoin (BTC) options open interest and volume are concerned. However, Matrixport owns derivatives exchange Bit.com, which is often the second or third largest options provider on a monthly basis along with Okex.

What do you think about the BTC-U Range Sniper concept? Let us know what you think about this topic in the comment section below.

Tags in this story

bit.com, bitcoin options, bitcoin products, btc options, btc-u range sniper, cme group, deribit, eth 2.0, eth staking, finance, john ge, lederx, matrixport, matrixport series c, okex, options, skew analytics, instability

image credit: Shutterstock, Pixabay, WikiCommons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation or recommendation or endorsement of an offer to buy or sell any products, services, or companies. Bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the Company nor the author is responsible, directly or indirectly, for any damage or loss alleged to be caused by or in connection with the use or reliance on any materials, goods or services mentioned in this article.

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