WhiteBit In-depth Report Generated by AI - For further details, please review:

https://alpha.sosovalue.xyz/trade/WBT-USDT-BINANCE

1)What is Whitebit？

WhiteBIT is a significant player in the centralized cryptocurrency exchange market in Europe. As of July 2023, WhiteBIT has launched new Institutional Services, catering specifically to the needs of corporate customers like market makers, large traders, brokers, and asset managers. The exchange is known for its user-friendly interface, which is accessible even to beginners, and boasts a substantial 24-hour spot trading volume ranging between $500 million to $1 billion. It also offers a maximum available leverage of 20X.

Established in 2018, WhiteBIT operates in 190 countries and serves over 4 million users worldwide. The exchange employs more than 1,000 workers, providing a secure crypto gateway for a multitude of traders and investors. Complying with KYC (Know Your Customer) and AML (Anti-Money Laundering) requirements, WhiteBIT emphasizes security in its operations.

In addition to its exchange services, WhiteBIT has introduced its own exchange coin, the WhiteBIT Coin (WBT), and established a launchpad for new crypto projects. They also offer a feature-rich trading terminal among various other products. These initiatives have been instrumental in setting WhiteBIT apart from its competitors. The exchange celebrated its 5th anniversary on November 19, 2023, marking half a decade of growth and innovation in the crypto exchange market.

WhiteBIT is recognized for its commitment to developing a crypto-society by offering a secure and easy-to-use trading platform. The team behind WhiteBIT is described as professional and friendly, continuously striving to achieve new goals and expand their services.

2)Which sector does Whitebit belong to?

WhiteBIT belongs to the Centralized Exchange (CEX) sector within the cryptocurrency industry. This sector plays a pivotal role in the broader crypto market, facilitating digital asset transactions for a wide range of users. The current situation and development prospects of the CEX sector, as of 2023, are influenced by several key factors:

• Industry Recovery Post-Crisis: The CEX sector is recovering from significant events such as the Terra-Luna fallout and the FTX implosion, which had a profound impact on investor confidence in cryptocurrencies. Despite these challenges, the sector has shown resilience, with the market continuing to recognize the potential of blockchain technology and centralized exchanges remaining the dominant platform for digital asset transactions, accounting for nearly 90% of all transactions.
• Operational Complexity and Integration: CEXs simplify the management of digital asset portfolios by offering integrated services like custody, trading, investment products, and fiat on-off ramps. This comprehensive approach significantly reduces the complexity for investors, particularly in managing tokens across different blockchains and during market volatility.
• Safety and Security: Although the industry’s“not your keys, not your coins”mantra suggests a preference for decentralized solutions, centralized exchanges have proven comparatively safer. Data from Chainalysis shows that a smaller percentage of cryptocurrencies stolen by hackers came from CEXes compared to decentralized applications. The ongoing efforts to enhance cybersecurity in CEXes are likely to widen this safety gap further.
• Client Support and Trust: CEXes provide added value, especially to high net worth and institutional clients, by offering dedicated support and account managers. This aspect of customer service is crucial for investors managing significant assets, offering a level of reliability and trust.
• Regulatory and Governance Focus: The sector is facing increased scrutiny, particularly in the area of segregating customer and corporate assets. This focus has intensified following incidents like FTX’s collapse. Regulatory bodies and industry players are advocating for clearer governance structures and improved investor protections to enhance trust and stability in the sector.

Overall, the CEX sector is navigating through a phase of recovery and evolution, with an emphasis on improving governance, security, and regulatory compliance. These measures are crucial for maintaining investor trust and ensuring the sector’s sustainable growth.

3)What is tokenomics of Whitebit (includes allocation and supply schedule)?

The tokenomics of the WhiteBIT Coin (WBT), the native asset of the WB Network and the centralized exchange (CEX) WhiteBIT, are detailed as follows:

Token Allocation:

• Insurance Fund: 3.00%
• Security Fund: 3.00%
• WBT Liquidity Fund: 22.50%
• Team Tokens: 8.00%
• Influencers Fund: 3.00%
• Treasury Token: 22.50%
• Ecosystem Fund: 6.00%
• User Engagement Fund: 6.00%
• Crypto Lending Fund: 6.00%
• Private Sale: 13.50%
• Launchpad: 0.25%
• Burn Address: 6.25%

**Supply Schedule:**

• The initial token launch for WBT was in August 2022.
• The maximum supply is capped at 400 million WBT, with no new tokens to be created in the future.
• Of the total supply, 200 million are treasury tokens, which will be unlocked over three years following the final round of private sale tokens.
• The full vesting of the supply is expected to be completed by March 2026.

**Token Utility and Integration:**

• WBT is a utility token integrated into all WhiteBIT services, streamlining user interactions on the platform.
• It is used within the WhiteBIT ecosystem to facilitate various transactions and activities, offering benefits and privileges to its holders.
• WBT originated as a native token of the CEX WhiteBIT but has since evolved to become the native coin within the dedicated WB Network, with the integration of WBT and WhiteBIT remaining intact.

**Blockchain Transition:**

• WBT now resides on its blockchain, transitioning from smart contracts on the Ethereum and Tron Networks to Coins within the WB Network.
• This transition aimed to ensure a smooth shift while keeping the tokenomics of WBT unchanged.

**Distribution Across Networks:**

• As of the latest information, the coins are distributed between the Ethereum Network (70.80%), the Tron Network (23.21%), and the WB Network (5.98%).

**Token Buybacks and Burns:**

• WhiteBIT conducts weekly buybacks and token burns, aiming to destroy at least half of all tokens eventually. These buybacks occur in the WBT/USDT market, with the burning process occurring weekly. In summary, the WhiteBIT Coin (WBT) features a carefully structured tokenomics model, balancing between various funds, team allocations, and mechanisms like token burns to manage its supply and utility within the ecosystem.The tokenomics of the WhiteBIT Coin (WBT), the native asset of the WB Network and the centralized exchange (CEX) WhiteBIT, are detailed as follows:

**Token Allocation:**

• Insurance Fund: 3.00%
• Security Fund: 3.00%
• WBT Liquidity Fund: 22.50%
• Team Tokens: 8.00%
• Influencers Fund: 3.00%
• Treasury Token: 22.50%
• Ecosystem Fund: 6.00%
• User Engagement Fund: 6.00%
• Crypto Lending Fund: 6.00%
• Private Sale: 13.50%
• Launchpad: 0.25%
• Burn Address: 6.25%

**Supply Schedule:**

• The initial token launch for WBT was in August 2022.
• The maximum supply is capped at 400 million WBT, with no new tokens to be created in the future.
• Of the total supply, 200 million are treasury tokens, which will be unlocked over three years following the final round of private sale tokens.
• The full vesting of the supply is expected to be completed by March 2026.

**Token Utility and Integration:**

• WBT is a utility token integrated into all WhiteBIT services, streamlining user interactions on the platform.
• It is used within the WhiteBIT ecosystem to facilitate various transactions and activities, offering benefits and privileges to its holders.
• WBT originated as a native token of the CEX WhiteBIT but has since evolved to become the native coin within the dedicated WB Network, with the integration of WBT and WhiteBIT remaining intact.

**Blockchain Transition:**

• WBT now resides on its blockchain, transitioning from smart contracts on the Ethereum and Tron Networks to Coins within the WB Network.
• This transition aimed to ensure a smooth shift while keeping the tokenomics of WBT unchanged.

**Distribution Across Networks:**

• As of the latest information, the coins are distributed between the Ethereum Network (70.80%), the Tron Network (23.21%), and the WB Network (5.98%).

**Token Buybacks and Burns:**

• WhiteBIT conducts weekly buybacks and token burns, aiming to destroy at least half of all tokens eventually. These buybacks occur in the WBT/USDT market, with the burning process occurring weekly. In summary, the WhiteBIT Coin (WBT) features a carefully structured tokenomics model, balancing between various funds, team allocations, and mechanisms like token burns to manage its supply and utility within the ecosystem.

4)What about the team and the investors of Whitebit?

Regarding WhiteBIT, the key details about the team behind it and its funding history are as follows:

Team Behind WhiteBIT:

• Founder and CEO: The founder of WhiteBIT is Vladimir Nosov. He is a serial entrepreneur with experience in building companies from scratch in fast-growing markets. As CEO, his focus is on company growth, customer needs, and leveraging employees’ talents to create a first-class digital product in the fintech industry.
• Company Origin: WhiteBIT was founded in 2018 in Ukraine. It is known as one of the biggest European crypto exchanges. The company emphasizes safety, transparency, and constant development.
• Headquarters and Operating Status: WhiteBIT has its headquarters in the European Union, with active operations across Europe, the Middle East, and Africa. It was officially founded on November 19, 2018.

### History of Funding and Support:

• 5th Anniversary and Achievements: In 2023, WhiteBIT celebrated its 5th anniversary. Some of their significant achievements include a partnership with FC Barcelona, the introduction of the WhiteBIT Coin (WBT), the establishment of a launchpad for new crypto projects, and the development of a feature-rich trading terminal.
• Operation During Crisis: In 2022, during the invasion of Ukraine, WhiteBIT managed to weather the crisis through its own reserves and transparent operations. The company also offered tools and opportunities to assist Ukrainians during this period.

Regarding specific funding rounds and investment details, there is limited publicly available information. Most of the available sources do not provide detailed insights into their funding rounds or investment history. However, it’s clear from the available information that WhiteBIT has shown resilience and innovation in its operations, contributing to its growth as a major player in the cryptocurrency exchange market in Europe.

5)What is the development history of Whitebit?

The development history of WhiteBIT, marked by significant events and milestones, reflects its growth and evolution in the cryptocurrency exchange market:

**Foundation and Initial Concept (2018):**

• Startup in Kharkiv: WhiteBIT began as a small startup in Kharkiv, focusing on crafting its inaugural product — a spot trading service emphasizing convenience, simplicity, and security.
• Naming and Philosophy: The name “WhiteBIT” was chosen to symbolize honesty, openness, and transparency, countering the prevalent shades of gray and black in the market.

**Early Development and User Engagement (2018-2023):**

• User Community Growth: Over five years, WhiteBIT developed a global community of over 4 million users, focusing on converting user requests and ideas into tangible innovations while maintaining reliability, transparency, and convenience.
• Security Focus: The exchange achieved recognition as the third most secure cryptocurrency exchange by CER.live and received a AAA rating from an independent audit by Hacken.

**Expansion and Innovation (2019-2023):**

• Trading Pairs and National Currencies: In 2019, WhiteBIT introduced its first trading pairs with the hryvnia, expanding to 10 national currencies and more than 350 trading pairs.
• Trading Toolkit: WhiteBIT significantly expanded its trading toolkit, including spot trading, futures trading, margin trading, and a variety of other tools.

**Ecosystem and Project Development:**

• Ecosystem Projects: The exchange implemented numerous projects like WhiteBIT Earn, WhiteBIT Launchpad, and WhiteBIT Codes, enhancing user interaction with cryptocurrency.
• Innovative Platforms and Services: WhiteBIT developed innovative platforms and services like WhiteSwap, a decentralized exchange, and WhiteEX, physical cards for topping up balances on the exchange.

**Future Plans and Strategy:**

• Continued Innovation: WhiteBIT’s future plans include enhancing existing products, tailoring them to user preferences, and creating new projects and services.
• Strategic Approach: The exchange’s strategy involves adapting to evolving crypto market conditions and continuing to set standards in the blockchain industry.

WhiteBIT’s journey, from a startup in Kharkiv to one of Europe’s largest crypto exchanges, is marked by continuous growth, innovation, and a strong commitment to its community and values. The company’s approach to security, user engagement, and technological advancements has played a crucial role in its development and success in the dynamic landscape of the blockchain industry.

6)What is the progress and future roadmap of it?

WhiteBIT, over its five-year journey, has achieved several significant milestones and has outlined its future roadmap for development. Here’s a chronological list of their key achievements and future plans:

Chronological List of Significant Events and Milestones:

• 2018: The inception of WhiteBIT as a small startup in Kharkiv, focusing on crafting its inaugural product—a spot trading service. This marked the foundation of WhiteBIT, emphasizing convenience, simplicity, and security. The name“WhiteBIT”was chosen to symbolize honesty, openness, and transparency, counterbalancing the shades of gray and black prevalent in the crypto market at that time.
• 2023: By this year, WhiteBIT evolved into an international blockchain company with a team of over 1,000 professionals. It weathered significant events such as the third Bitcoin halving, shifts in traditional financial institutions, challenges of quarantine, and the crypto winter. The core team from inception remains integral to its success.
• Present Status: Currently, WhiteBIT stands as one of Europe’s largest crypto exchanges, licensed in multiple countries. It has evolved from a single spot trading service into an expansive ecosystem, including Whitepay crypto processing service, WhiteSwap decentralized exchange, WhiteEX physical balance top-up cards, GN Crypto news portal, ByHi Show blockchain entertainment show, white.market for CS:GO skins trading, WhiteBIT Coin (WBT), and WB Network blockchain.

Achievements and Impact:

• User Growth: The community has surpassed 4 million users globally, indicating trust and reliability.
• Security: Recognized as the third most secure cryptocurrency exchange by CER.live and awarded an AAA rating by Hacken.
• Technological Advancements: Continuous improvement of their platform and innovation in product creation.
• Partnerships and Community Engagement: Collaborations with sports teams, educational institutions, and government entities, particularly in Ukraine, reflecting a strong commitment to social and educational initiatives.

Financial Performance and Market Impact:

• WhiteBIT has seen significant financial growth and has been compared favorably with other leading crypto exchanges. It has also contributed to the broader crypto community through partnerships, sponsorships, and educational initiatives.

Technological Projects:

• Projects like WhiteBIT Earn, WhiteBIT Launchpad, WB Network blockchain, whiteEX physical cards, and whitepay payment system have been key technological advancements.

Future Outlook and Plans:

• The future roadmap includes further development and improvement of infrastructure for mass adoption of cryptocurrency.
• Aiming to build a bridge between traditional financial systems and blockchain, with initiatives like the WB Network, WB Soul Ecosystem, and grant projects signaling the beginning of more developments to come.

Overall, WhiteBIT’s journey has been characterized by continuous growth, innovation, and a strong commitment to the crypto community, security, and user engagement. Their future plans indicate a focus on enhancing blockchain technology’s integration into everyday life and financial systems.

7)List all important links related to Whitebit

Here are some important links related to WhiteBIT that I was able to find:

Official Website:

https://whitebit.com/about-us

Facebook:

https://www.facebook.com/whitebit

Twitter:

https://twitter.com/whitebit

LinkedIn:

https://www.linkedin.com/company/whitebit

Instagram:

https://www.instagram.com/whitebit

YouTube:

https://www.youtube.com/whitebit

8)Bullishness index for this token from the perspective of token valuation and future potential

The WhiteBIT Token (WBT) is currently valued at approximately $5.36 to $5.43, with recent price fluctuations showing minor changes over the past week and day. The token supply is capped at 400 million WBT, with half of this being treasury tokens set to be unlocked over three years following the launch.

In terms of short-term predictions, the price of WBT is expected to experience a slight decrease, with forecasts suggesting it might drop by about 4.53% to reach $5.20 by December 6, 2023. However, over a one-month period, a slight increase is predicted, potentially reaching $5.79 by the end of December 2023.

Looking at the longer-term outlook, predictions based on historical price movements and Bitcoin halving cycles indicate varying future values for WBT. For instance, the yearly low for 2024 is estimated at $4.77, with the potential to reach as high as $9.86. Similarly, by 2025, WBT could be valued between $8.82 and $28.69, indicating a potential gain of 424.35% from its current price if it reaches the upper target. This pattern of potential growth continues through 2030, with predictions ranging from $21.50 to $27.21, a possible 397.27% gain from today’s price.

However, it’s important to note that the current sentiment around WBT is bearish, with a mix of bullish and bearish signals from technical analysis indicators. The Relative Strength Index (RSI), a key momentum oscillator, is at 53.16, suggesting a neutral market position for WBT.

In summary, while short-term predictions for WBT show a mix of slight decreases and increases, long-term forecasts based on historical trends and market analysis suggest a potential for significant value growth over the coming years. However, these predictions should be approached with caution, as they are subject to market dynamics and broader economic factors. As with any investment, it’s crucial to consider both technical and fundamental factors before making decisions.