February 2021 Community Update

Welcome to the beginning of 2021!

Anyone paying attention to the digital asset market this month has been on one rollercoaster ride. Having reached its peak earlier this month of over $58,000, BTC then nearly lost 17% of its value earlier this week. Likewise, Ether hit an all-time high, passing the $2000 mark before pulling back and crossing below the $1400 line.

Coindesk BTC Chart Source: Coindesk

Coindesk ETH Chart Source: Coindesk

The market is buzzing right now with their theories: is it a natural market pullback after a rise? Was it the result of a market influencer’s tweets? Or perhaps it fell to the comments from US regulators? Regardless of the reason for the market fluctuations, we expect many people to be taking advantage of the market changes.

So what have you been doing with the change in market? While the market is fluctuating, perhaps some of you will be taking this opportunity to also get involved in the Binance staking campaign we spoke about last month!

Source: Binance

But for others that don’t have their tokens locked in staking campaigns or aren’t actively trading because they’re uncertain about the market, we also felt it was important to remind our community members to be responsible with their tokens. While we hope that security within the space of digital assets continues to improve, and we manage to find all the loopholes to ensure safe trading, there still lies an inherent risk.

Be sure to explore alternative private wallets and or cold storage! As the industry matures, there are more and more methods to store tokens– we want to hear from our community on their preferred ways. Lets share information to keep everyone’s assets safe.

We’ve also been hearing a lot of feedback from our community members about having trading pairs for the OAX tokens on decentralized exchanges like UniSwap. We’re looking into this but we also want to hear from you guys! Which platforms do you prefer and why? Come find us on telegram, we’re shortlisting options and evaluating proposals for the different suggestions, so if you want this to happen, be sure to drop us a line!