Key Takeaways:
- Check out the impact of the Bitcoin Halving event in the current crypto market and how businesses can use it.
- Find why it is beneficial to launch a DEX platform using a ready-made solution compared to building from scratch in the current conditions.
- Discover points to be remembered when opting for Whitelabel DEX development software for business purposes.
The current crypto market has been full of optimistic opportunities as the fourth iteration of Bitcoin Halving took place. The pioneering event had fueled the market from a bearish season as Bitcoin prices reached new all-time highs (ATH) within a span of a few weeks, making enthusiasts go in awe. Such a trend impacted crypto exchange businesses (especially DEXs) in a good way as traders flocked in regularly to trade cryptocurrencies, increasing their profit margins in 2024. If you plan to launch a DEX platform, this blog tells you why you should go with Whitelabel DEX solutions and how they can benefit you immediately.
The Hype Induced By Bitcoin Halving in the Global Markets
The fourth edition of Bitcoin Halving occurred on April 20, 2024, at approximately 12:09 AM UTC, amidst a volatile market environment induced mainly by excitement around the event and geopolitical tensions. However, the build-up to the pivotal moment began a long time ago, with traders being bullish through active investments and experts predicting BTC prices to go as far as $100,000.
- The core fact to note from this halving event is that rewards for Bitcoin miners have reduced from 6.25 BTC to 3.125 BTC, delaying the circulation of new Bitcoin and ensuring its prices stay at optimal levels. With global crypto adoption rising to new heights, researchers expect the demand for Bitcoin to soar, making its price break new barriers.
- Bitcoin was a hot topic during the bearish season, as the network experienced an inflow of new types of tokens based on Ordinals protocol, opening it to diverse projects. Despite aggressive opposition from Bitcoin maximalists, the new markets continue to be busy, making an undeniable presence in the digital space.
- The halving event not only drove the value of Bitcoin but also the prices of several prominent cryptocurrencies, including Ether (ETH), Solana (SOL), and BNB (BNB), among others. The approval for spot Bitcoin ETFs from several governments, including the USA and Hong Kong, has made this edition of the halving event to be more impactful, as more retail investments flow into the network.
Why is Choosing DEX Development for Business a Good Choice Now?
Seeing the level of hype the latest iteration of Bitcoin Halving caused in the market, many people have considered entering the space as a business. Running a crypto exchange platform could be a great choice, with the decentralized model offering greater promises than its centralized counterpart. As the market braces for an extended bull run, experts project decentralized exchanges to become preferred among crypto investors.
- As we know, decentralized crypto exchanges do not have an intermediary to process transactions, making it a safer option for people wishing to have their financials private. The model also has fewer pathways for Web2 linkages, such as servers, making platforms secure from hacking threats.
- The road to the crypto market’s current recovery was driven by DEX platforms on networks like Solana and Ethereum, making the model immensely popular among enthusiasts and investors. As a result, opting to build a decentralized exchange could be the perfect way to taste success in the competitive market.
- With technologies like artificial intelligence (AI) becoming mainstream and accessible for various business use cases, the case for decentralized exchanges becomes strong. Projects can automate several features to make their applications seamless and effective in the long run.
Looking to Develop Your Dream DEX Application for the Global Crypto Market?
Why Should a DEX Project Use Whitelabel Software?
If you are interested in launching a decentralized crypto exchange, you might consider using Whitelabel software. Such pre-made solutions provide comprehensive benefits for startups and small-scale business owners as they can be readily utilized. One can take advantage of solutions from technically proficient developer teams like ours.
- Customizable: Entrepreneurs can modify various aspects of the Whitelabel DEX software to launch a customized business branded according to their needs. With expert assistance, doing so becomes a seamless affair, as they can help businesses find and implement the right features matching their requirements.
- Reduced Costs: Utilizing a pre-built solution based on the DEX model can drastically reduce development costs for business owners, as most part of it will be created and tested well in advance. Service providers charge only for the customization they carry out on the software, resulting in lower costs compared to building from scratch.
- Reduced Development Time: Whitelabelling a decentralized crypto exchange platform also reduces businesses’ time to enter the market, as most solutions only take a few days or weeks to materialize into usable platforms. Using such software enables an entrepreneur to maximize the current market conditions to make the most of optimistic trader sentiments.
- Focus on Other Aspects: Tapping into a Whitelabel DEX platform can let a project concentrate on other aspects of business, such as outreach, community-building, and partnership formations. Focusing on such facets would dictate the platform’s success in the long run when supplemented with greater levels of user experience and security.
- Highly Safe and Scalable: Despite their readily available nature, business owners can enjoy flexible scalability and heightened security as service providers provide ample infrastructural support throughout the platform’s operational journey. Reinforcing DEX applications with such technological provisions can bolster their business prospects over time.
Vital Features in a Whitelabel DEX Platform
Any Whitelabel DEX platform will have several features that can offer basic functionalities for a business. All these facets can be modified to an entrepreneur’s individual requirements to ensure unique branding. Apart from these features, one can also add extra facets that could make the platform appealing to the target markets. Given below are some essential features that drive a decentralized crypto exchange:
- Automated Market Makers (AMMs)
- Integrated liquidity provisions for cryptocurrencies
- User verification mechanisms (KYC/AML)
- Multi-cryptocurrency support
- Multiple payment gateways
- Compliance with relevant regulatory requirements
- Real-time exchange rates for crypto/fiat currencies
- Intuitive dashboards for traders and administrators
- Advanced market analytics tools
- Whitelabel provisions for web/mobile interfaces
- Hardened safety implementations from end to end
Conclusion
Therefore, we have seen how DEX development could be a pivotal decision for a business immediately after the Bitcoin Halving event. By using a Whitelabel solution, entrepreneurs can enter the digital financial market seamlessly and quickly to capitalize on the impact caused by the recent Bitcoin Halving. As expert predictions indicate a bullish phase extending beyond 2024, creating a DEX immediately could lead a business to immense success, and tapping into pre-made software could be the only option. If you are looking to launch a DEX platform from a readily available solution, our team at Blockchain App Factory can come to aid with significant levels of industry expertise. Contact one of our professionals today to plan your DEX’s unique facets!
