Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The crypto market ends the week at a total market capitalization of $2,17 trillion. Bitcoin continues to trade at around $62,300. Ethereum experiences no changes and stagnates at around $2,400. XRP is down by 2%, Solana by 1%, and Dogecoin by 3%. Almost all altcoins are trading in the red, with very few exceptions. The DeFi sector decreased the total value of protocols (TVL) to around…
A Beginners Guide to Trade Mining – 2023 Edition
1.3 k views
Trade mining is a feature in the DeFi space that continues to gain popularity. The concept combines the essence of yield farming with staking and mining in a unique way. As such, it enables users to secure passive rewards securely and in a stress-free manner.
What is Trade Mining
Trade mining systems operate as incentivization protocols for exchange users. Trade mining tokens mint every time a person conducts a transaction on a participating DEX (decentralized exchange). Like mining, these tokens are minted into existence at the time of your transaction. However, these mintings are the only time these tokens are newly issued.
However, unlike mining, you don’t need to compete with other nodes to receive rewards. You also don’t need to invest in expensive mining rigs. Additionally, your actions are not used to secure or validate the blockchain. Primarily, trade mining incentivizes using platforms that provide this service.
This incentive benefits both the platform and the users in deeper liquidity and more trading volume. Additionally, many platforms enable users to take their trade mining tokens and stake them to earn even more rewards. In this way, regular users can open up new revenue streams without adding risk.
Benefits
There is a lot of benefits trade mining brings to the market. For one, it helps traders increase their profits. The more you trade mine, the more rewards you secure. For day traders that sometimes conduct over 100 trades daily, these rewards can add up to be substantial.
Gas Fees
These tokens can also be sued to offset gas prices. Gas prices have hit record highs. These fees rose sharply due to the added congestion introduced by the sudden increase in DeFi platforms on the Ethereum network. Trade mining users can reduce these fees by using their rewards tokens to pay for fees and services. You can also trade into other cryptocurrencies or stablecoins to improve your ROI.
Expandable
Many trade mining protocols,, such as SushiSwap operate as open-source protocols. This designation enables developers to integrate these services into their Dapps seamlessly. Specifically, third parties can provide farming reward distribution to their customer and use a trade mining smart contract as a farming/AMM pair pool host service.
Passive Income
Trade mining enables anyone to earn rewards for simply trading. However, unlike trading, your rewards aren’t based on your ability to predict the market’s movements. Instead, your rewards are based on volume and activity. Best of all, areno extra steps are required to secure these rewards. Instead, they automatically deposit in your connected wallet.
How Does Trade Mining Work
Trade mining works by allocating a special token to users for each transaction they make on a specific platform. Most of these systems are just one component of a complete DeFi ecosystem. These tokens are designed to integrate into other services and platforms,, such as staking, yield farming, and more.
Notably, most platforms payout rewards for staked trade mining tokens in their native token. However, these protocols are still very new to the market. As such, you can expect some platforms to begin to offer rewards in major cryptos like ETH or BNB in the coming months.
Platforms that Offer Trade Mining
There are only a few platforms that offer trade mining services at this time. SushiSwap is the largest and most popular of these exchanges. SushiSwap provides rewards in the form of S Tokens to users conducting trade mining activities. These tokens can then be staked or farmed.
SushiSwap users deposit their S Tokens in the trade mining pools to further mine SAKE tokens as a reward. Notably, each pool has a corresponding S Token. Specifically, there is the SAKE-ETH S Token for the SAKE-ETH pool. In this way, SushiSwap users can harvest SAKE through Yield Farming and Trade Mining simultaneously.
History of Trade Mining
The first platform to introduce trade mining to the market was the Chinese-based exchange Fcoin. Fcoin sent shockwaves through the market when they introduced the concept in May of this year. Since then, multiple platforms have sought to duplicate and improve the feature. The main difference between SushiSwap’s offering and Fcoin is that the latter doesn’t offer yield farming options for these rewards.
Risks of Trade Mining
As with all new protocols, some risks must aware of. For one, these reward tokens are issued based on transaction volume. Consequently, some inflationary concerns emerge in the coming months as more networks offer trade mining features.
Also, you have the normal risks associated with DeFi platforms. It would be best if you were vigilant and DYOR (Do Your Research) to avoid scams. Always double-check smart contract addresses;; if you are ever completely lost, reach out to the community. Tons of crypto enthusiasts can tell you if something seems off about a particular platform. The main thing is to always stick to reputable platforms.
The biggest risk to users is simply making mistakes. If you’re new to the DeFi sector, everything can seem confusing. It would help if you remembered that there are no refunds on the blockchain. That means you need to be 100% sure when conducting any transactions,, from trading to staking.
Trade Mining – A New Standard
Btc
Bitcoin
$62.547
price
price
0.84959%
price change
Introducing trade mining to the DEX sector could have a resounding effect on all platforms moving forward. There is no doubt that these systems help to offset high gas prices and fees. Just these factors are enough to entice traders to check out any platforms offering these services. As a result, you can expect to see many more DEXs introduce trade mining features in the coming weeks, as the benefits are too great to ignore.
Previous
Crypto Films Worth Watching in 2021
Next
3 Reasons Why Governments Are against Cryptocurrencies
Written by
David Hamilton
@DavidtheWriter
143 posts
More author posts
The Top 3 Bitcoin Blockchain Explorers For Your Needs
Learning about Bitcoin blockchain explorers is a great way to further your crypto education. These helpful platforms make it easy for regular users to leverage the complete transparency of the Bitcoin blockchain. In the early days, there were only a handful of explorers available. Today, the market is full of an excellent selection of platforms that offer unique features and services. What's a Blockchain Explorer A blockchain explorer is a software program that enables users to examine specific details about a particular blockchain.…
4 years ago
ZenLedger – Keeping Crypto Investors out of Tax Trouble
ZenLedger is a tax software suite geared towards the DeFi and cryptocurrency communities. The protocol integrates various unique features. They enable users to save time and effort when filing their crypto holdings with tax authorities. The system is completely IRS compliant and integrates with other popular tax software. Why ZenLedger Could Help You ZenLedger serves an essential role in educating investors and providing users with crypto tax information and services. The network streamlines the process by introducing automatic forms and advanced…
4 years ago
LunarCRUSH – Helping Investors Decipher the Social Media Buzz
LunarCRUSH operates as a social media analytics and aggregated research tool. The platform enables users to gauge previously tricky metrics such as public sentiment towards a project. The system simplifies the process through the introduction of a proprietary scoring system and more. LunarCRUSH continues to see growing popularity in the sector. As such, the network has expanded its efforts. Today, LunarCRUSH monitors over 30,000 links collected daily. These links span over 200 million social media posts and across +2,000 supported cryptocurrencies. How…
4 years ago
Top 5 Multi-Blockchain Explorers to Check Out
Blockchain explorers are a critical component of the decentralized ecosystem. These protocols enable users to search for detailed information on the blockchain, such as a transaction or wallet balance. Blockchain explorers have come a long way since crypto's early days. Here are the top 5 multi-blockchain explorers to check out. Blockchain Blockchain offers more options and networks than Blockchain.com. The network enables users to search across 17 blockchains from the convenience of one easy-to-navigate explorer. As a result, users save time and…
4 years ago
Never Miss a Crypto Event Again – Coinmarketcal
Coinmarketcal supplies valuable information about crypto-related events to the market. The network was born out of a desire to provide an organized location. There, investors could find vital data about the ever-expanding crypto market. Today, the platform offers an extensive suite of features. These services enable investors to monitor for potential catalysts across the entire industry. History of the Coinmarketcal Coinmarketcal entered the market in 2017 to create one place to find all helpful crypto-related events. At that time, the market was going…
4 years ago
Open Sea – A Pioneer in the NFT World
Open Sea is one of the most reputable NFT marketplaces in existence. The network enables users to buy, sell, and explore collectibles, game items, Art NFTs, and various other digital goods. Notably, Open Sea was the first NFT marketplace to enter the market. This pioneering spirit enabled the platform to establish and maintain a dominant position in the market. Today, Open Sea still operates as the largest NFT marketplace in terms of the daily trading volume. The network has +4 million…
4 years ago
Publish your own article
Guest post article. Guaranteed publishing with just a few clicks
START PUBLISHING ADVERTISE WITH USBrowse categories
Explore trending topics in the crypto community right now.
Bitcoin
SEC Greenlights Multiple Bitcoin ETFs, Signaling Major Leap for Cryptocurrency Markets
The U.S. Securities and Exchange Commission (SEC) has made a landmark decision by approving 11 spot bitcoin exchange-traded funds (ETFs). This move represents a significant moment in the cryptocurrency industry, marking a shift towards greater institutional adoption and accessibility for investors. The approved ETFs include products from major firms such as BlackRock’s iShares Bitcoin Trust, Grayscale Bitcoin Trust, ARK 21Shares Bitcoin ETF, Bitwise Bitcoin ETP Trust, WisdomTree Bitcoin Fund, Fidelity Wise Origin Bitcoin Trust, VanEck Bitcoin Trust, Invesco Galaxy Bitcoin…
Marius Bogdan Dinu 
@bdinu89
@bdinu89
1 year ago 
597 views
Bitcoin Should be Banned in the United States: Charlie Munger
Berkshire Hathaway’s vice chairman, Charlie Munger, called for a ban on cryptocurrency in the United States on Monday, similar to the one in China. In an op-ed published with the Wall Street Journal, Munger argued that Bitcoin isn’t a currency, commodity, or security, but simply a form of gambling “ with a nearly 100% edge for the house. As such, the enactment of a federal law should ban such things from happening. Munger cited the Chinese communist party’s ban on…
2 years ago 1.5 k views
Tesla’s BTC Positions Remained Unchanged in Q4 of 2022
According to a new earning report from automotive manufacturer Tesla, the company did not sell any of its BTC holdings in the fourth quarter of 2022. Amid speculations that the company had traded BTC during the testing bears, CEO Elon Musk revealed it was yet holding on to its BTC stash. Tesla Maintains Holdings After Initial Sell-Off In Q2 of 2022, Tesla opted to sell 75% of all its BTC. The car manufacturer received close to $950M in exchange. Notably,…
2 years ago 1.5 k views
Here’s When Grayscale Debates the SEC in Court on its Bitcoin Spot ETF
The District of Columbia Court of Appeals has marked a date for when Grayscale and the Securities and Exchange Commission (SEC) may present oral arguments regarding the approval of a Bitcoin spot ETF. Each side will present its case at 9:30 am ET on March 7, with the SEC arguing against the product, and Grayscale arguing in favor. Grayscale VS SEC The court date – revealed in a court order filed on Monday according to CNBC – is much earlier…
2 years ago 1.8 k views
Ethereum
Ethereum’s Zhejiang Staking Withdrawal Testnet for Shanghai is Live
At 15:00 UTC on Wednesday, the much-anticipated Zhejiang testnet for staking withdrawal went live on Ethereum’s Beacon chain. Zhejiang will enable the testing of the Ethereum Improvement Proposal (EIP) 4895 which allows for staking withdrawals. This is in preparation for the network’s next major update, the Shanghai hard fork slated to launch sometime in March. Users Can Make Simulated Withdrawals with Zhejiang In a tweet yesterday, DevOps engineer at Ethereum foundation Barnabas Busa gave details about the Zhejiang testnet slated…
2 years ago 1.6 k views
Ethereum Devs Disagree Over Technical Tweak as Shanghai Upgrade Nears
Post-merge Ethereum users have been eagerly awaiting the commencement of the network’s next major upgrade, Shanghai. However, after over 3 months of prep time, it appears the Shanghai rollout isn’t going as smoothly as expected. What Exactly is the Shanghai Upgrade? In September last year, the much-publicized Ethereum Merge also known as the Ethereum 2.0 upgrade went live. Ethereum underwent some significant changes as its consensus mechanism transitioned from proof-of-work to a cost-efficient proof-of-stake system. However, since the Beacon launch…
2 years ago 1.6 k views
FTX Hacker Converts 50k Stolen ETH to BTC
Per a report from blockchain analysis firm Chainalysis, the attacker behind the Nov 11 FTX exploit, is converting the stolen ETH to Bitcoin. There were muted fears the seemingly inexperienced perpetrator could dump all its ETH holdings. On Sunday, the attacker dumped 50k ETH on-chain, with ETH's price dipping by almost 7%. https://twitter.com/chainalysis/status/1594349583416840199?s=20&t=pgvQHeVytI20eKQ1ls9bxw Hacker Moves 50,000 ETH to New Address Over the past week, the perpetrator had been steadily swapping the cryptocurrencies they had carted off for Ether tokens. This…
3 years ago 1.9 k views
Censorship Concerns: 51% of Ethereum Blocks Now OFAC Compliant
According to new data, over half of the blocks on the Ethereum network now reportedly comply with the US Treasury OFAC’s standards. This comes roughly a month after the platform’s monumental merge update. Phasing Out Tornado Cash The Office of Foreign Assets Control is the intelligence and enforcement agency of the US Treasury Department. Indeed, the OFAC administers and enforces US financial sanctions. A prime example of this is the recent, highly-publicized ban on crypto mixer Tornado Cash. According to…
3 years ago 1.8 k views
Trading
How to Leverage Arbitrage Opportunities in Crypto Markets
Cryptocurrency arbitrage has become an increasingly popular investment strategy as the crypto market grows and evolves. Arbitrage involves taking advantage of pricing discrepancies between markets or exchanges to profit. Investors can leverage profit opportunities by understanding cryptocurrency arbitrage while managing associated risks. In this guide, we'll explore cryptocurrency arbitrage and how it works. A Bitcoin-related example will help us illustrate the concepts of this strategy. What is Arbitrage and How Does it Work in Crypto Markets Crypto arbitrage trading is…
2 years ago 3 k views
The Different Types of Copy Trading in Crypto
Are you interested in trading cryptocurrencies but feel intimidated by the complexity of the process? Copy trading is a great way to get into crypto without needing to be an experienced trader. With copy trading, investors can benefit from the experience and knowledge of more experienced traders, allowing even beginners to succeed. How does copy trading work, and which tips do you need to know to succeed? In this article, we'll explore all aspects of copy trading in crypto. What…
2 years ago 1.7 k views
How to Spot an Unsafe Crypto Exchange
Cryptocurrency exchanges have become increasingly popular as they provide a platform for people to buy and sell digital assets. Unfortunately, not all crypto exchanges are safe or reliable. With the rise of cybercrime and fraud, you must learn to spot an unsafe crypto exchange before investing your money. This guide will help beginners identify and avoid potential risks when selecting a cryptocurrency exchange. The Role of Crypto Exchanges on the Digital Assets Market Cryptocurrency exchanges play a crucial role in…
2 years ago 2.2 k views
What Is Grid Trading in Crypto?
Crypto grid trading has become a popular strategy because of its ability to help traders capitalize on market volatility. Grid trading means you can produce consistent profits by taking advantage of price differences in different markets or time frames. By establishing buy and sell orders at predetermined intervals, you can take advantage of these fluctuations in an automated way. This guide will explore the different aspects of grid trading and provide an overview of its benefits, challenges, and more. Through…
2 years ago 1.6 k views
Tech
Introducing una Messenger: A Paradigm Shift in Blockchain Connectivity
The digital landscape is set for an unprecedented transformation with the introduction of una Messenger, the latest innovation from web3 development powerhouse Wemade. This platform represents an evolution of the "PAPYRUS Messenger," serving as the cornerstone of the ambitious "unagi" initiative, aimed at catalyzing the mass adoption of blockchain technology. The "Unbound Networking & Accelerating Growth Initiative" seeks to bridge the divides between diverse blockchain services and networks, heralding a new era of interconnectedness. A New Frontier in Blockchain Communication…
Marius Bogdan Dinu
@bdinu89
@bdinu89
1 year ago 574 views
Bit2Me Champions WEMIX Token in Pioneering European Listing
Bit2Me, Spain's premier virtual asset exchange, has recently broadened the horizons for cryptocurrency enthusiasts by listing WEMIX, the cornerstone token of the WEMIX3.0 blockchain ecosystem. This marks a notable achievement as WEMIX's inaugural venture into the European market, emphasizing the token's role in facilitating a range of blockchain-based activities, from gaming transactions to decentralized finance (DeFi) applications. Launched with the intention to democratize access to WEMIX for the 450 million Spanish speakers around the globe, this strategic move aligns with…
Marius Bogdan Dinu
@bdinu89
@bdinu89
1 year ago 404 views
CryptoVirally Expands with Fresh Crypto Marketing Offers and Cointelegraph Upgrades
In an exciting update for the cryptocurrency marketing landscape, CryptoVirally has announced a series of new entries and enhancements to its already comprehensive range of services. These updates, aimed at providing tailored marketing solutions for crypto projects, include new limited-time offers and expanded options for Cointelegraph publications. Limited Offers: A Game-Changer in Crypto Marketing CryptoVirally's limited offers section presents an enticing opportunity for crypto projects to leverage high-impact marketing services at discounted rates. These offers, available for a limited period,…
Marius Bogdan Dinu
@bdinu89
@bdinu89
1 year ago 465 views
Breaking Boundaries in Blockchain: WEMIX’s ‘una Wallet’ Sets New Standard for Multi-Chain Asset Management
The WEMIX Foundation has unveiled 'una Wallet,' a revolutionary digital wallet designed to offer unparalleled convenience and security in managing digital assets across various blockchain networks. The announcement, made on January 17, 2024, signifies a new era in the seamless integration of multiple blockchain protocols, including Arbitrum, Avalanche, BNB Smart Chain, Ethereum, Kroma, Optimism, Polygon, and WEMIX3.0. 'una Wallet' is more than just a digital wallet; it represents the culmination of WEMIX's innovative efforts in the blockchain space. It serves…
Marius Bogdan Dinu
@bdinu89
@bdinu89
1 year ago 592 views