USDT-Tron and USDT-Omni To Co-Exist As a Single Cryptocurrency on This Exchange

The US-based Poloniex Exchange has announced its support for the USD Tether launched recently as a TRC20 token along with the existing USDT-Omni that is supported on the Exchange platform.
USD-Tether is a stable coin which is pegged to the US Dollar with a 1:1 ratio. Tether provides the back-up of the funds released as a cryptocurrency on the blockchain.
Misha Lederman, Co-founder at and a Tron supporter tweeted about the new USD Tether:
✅USDT is the most widely used stablecoin – pegged 1:1 to the US dollar ✅Previously available as a token on top of Bitcoin & Ethereum – now also available on TRON ✅TRON plans a 20 million USDT-TRON giveaway for 100 days.
Poloniex Will Support Two Versions of USD Tether
Tether is the firm that provides for the conversion of value to digital cash in the form of a cryptocurrency but pegged to an asset. USD Tether is the most widely used stablecoin which is backed 100% by the reserves at Tether.
Moreover, while the reserves are the same USDT is running on more than one blockchain platform; USDT-Bitcoin, Ethereum, Omni and Tron are all running a USD Tether.
Nevertheless, the USDTs on different chains are not interchangeable, i.e. while the markets for the chains can be the same, the wallet addresses of these chains are different. Furthermore, the smart contracts on the Tron network will only be able to access USDT-Tron and it applies respectively to OMNI and Ethereum as well.
Earlier the USDT offered on the Poloniex Exchange was designed on the OMNI chain. Now, the Exchange has decided to support both the versions of the chain by using the fact that they share a common reserve and hence are apparently the ‘same cryptocurrency’.
Nevertheless, the Exchange confirmed that it will have no effect on the USDT markets on Poloniex. Also, the users need to take no action to convert or transfer their existing USDT-OMNI tokens as they will continue to trade as well.
Since it is comparatively easier to adopt the new USDT-Tron along with USD-Omni and USDT-Eth, do you think other Exchanges will also add support soon? 
The post USDT-Tron and USDT-Omni To Co-Exist As a Single Cryptocurrency on This Exchange appeared first on Coingape.
Source: CoinGape

Crypto-Market Update: Altcoins BCH, XMR, LTC Consolidates as BAT Token, Enjin and Tezos Lead Weekly Gains

Bitcoin broke the weekly high to trade above $5300 on 20th April 20, 2019. Most of the traders still feel that Bitcoin (BTC) is in a ‘no-trade’ zone as the price continues to hover $5200 market. However, it is acting as strong support.
The total market capitalization of the cryptocurrency markets is $181.347 billion. Bitcoin’s dominance fell back to 51.9% as the altcoin make a comeback; Bitcoin’s dominance was 54% at the beginning of the week.
BTC/USD 7-Day Chart on Coinbase (TradingView)
Litecoin [LTC] and Bitcoin Cash [BCH]
Bitcoin [BCH] also gained considerable over the week and most of it can be attributed to #WeAreHoldonaut and #DelistBSV which favored Bitcoin Cash (BCH).
BCH/USD 1-Day chart on Coinbase (TradingView)
The price of bitcoin Cash (BCH) at 3: 00 Hours UTC on 20th April 2019 is $307.75. It is trading about 10% higher on a weekly scale.
Litecoin (LTC) traded in a small range around $80 dollars. It has gained considerably in the past last quarter. The price of LTC at 4: 00 Hours UTC on 20th April 2019 is $82.2. It is trading about 4.1% higher on a weekly scale.
Binance (BNB) Coin Continues to Lead the Race
Binance (BNB) coin has reached it’s All-Time High mark and is facing resistance to breaking past it. The price of BNB at 2: 30 Hours on 20th April 2019 is $24.27. It is trading 12.84% higher on a daily scale.
BNB/USD 1-Day chart on TradingView
Monero (XMR) Completes 5 years
Monero celebrated its fifth anniversary on 19th April 2019. The lead developer of the coin mentioned the ‘apparent hate’ that Monero received due to its drive for privacy. However, with added fungibility, Monero is actually the closest to the traditional monetary system of hand-to-hand cash transactions.
The price of Monero at 3: 30 Hours UTC on 20th April is $69.84. It is trading 2.78% higher on a daily scale and over 5% higher on a weekly scale.
Most of the other top altcoins including Ethereum, XRP, and DASH seem to be in the consolidation phase as they traded in the green with over 1.5% gain over the week.
BAT, Tezos and Holo token Gained 30% Over the Week
Basic Attention Token (BAT) also gained another leg up as it registered a 40-week high. The BAT token at 3: 20 Hours on 20 April 2019 is $0.388.
BAT/USD 1-Week Chart on Bitfinex (TradingView)
However, it was third the best performing coin the top fifty as cryptocurrency associated with Samsung, Enjin Coin (ENJ) gained 40% in the past week. The price of ENJ at 3:40 Hours UTC on 20th April is $0.20.
Tezos (XTZ) held on to its gains above $1.35, gaining over 170% since the beginning of the year. It gained 42% over the week as it consolidated back strongly above the $1 mark.
Some of the other tokens which gained over the week were Holo chain and Tezos. Holo Chain also gained about 18% on a weekly scale. The price of Holo at 3:45 Hours UTC on 20th April is $0.00143.
Do you think that altcoins will continue to gain in the new ‘tokenized’ ecosystem or Bitcoin (BTC)’s volatility will still affect the entire cryptocurrency market? Please share your views with us. 
The post Crypto-Market Update: Altcoins BCH, XMR, LTC Consolidates as BAT Token, Enjin and Tezos Lead Weekly Gains appeared first on Coingape.
Source: CoinGape

In Hindsight, Vitalik Buterin and Justin Sun Could Have been ‘Pals’ At Ripple Labs

“A coincidence is a small miracle when God chooses to remain anonymous.” Albert Einstein
Vitalik Buterin, the co-founder and prodigy behind Ethereum (ETH) is only 25 years of age, while Justin Jun, the founder of Tron is 29 years old. These two are probably the youngest entrepreneurs in the cryptocurrency sphere.
Seven years from today an eighteen-year-old Vitalik first entered the crypto space with the Bitcoin Magazine in 2012. Later in mid-2013, after the success of the magazine, reportedly, he was offered an internship at Ripple Labs. However, the US Visa constraints stopped him taking the offer.
Vitalik tweeted on 19th April:
“Fun fact: I tried to be an intern at Ripple back in the day (mid 2013), but US visa complications having to do with the fact that the company had only existed for 9 months and the minimum was 1 year stopped me.”
Furthermore, what conspired in late 2013 changed the cryptocurrency space forever, when Vitalik issued the first Whitepaper for Ethereum. Finally, Vitalik Buterin with Mihai Alisie, Anthony Di Iorio, Charles Hoskinson, Joe Lubin, and Gavin Wood found the Ethereum Platform in July 2015. Had the US granted permission to Vitalik to work at Ripple Labs, the world would have probably missed out on Ethereum.
Also Read: TRON’s Justin Sun Reveals Reason behind His Love to Ethereum’s Vitalik Buterin
Vitalik Missed But Justin Sun Actually Worked At Ripple Labs
Justin Sun, the founder of Tron was co-incidentally working at Ripple during the same time Vitalik had applied. Justin Sun served Ripple Labs from the Greater China region from December 2013 to January 2016.
He replied to the above tweet of Vitalik with a very positive note on a personal level. He tweeted:
When I found out these facts from @justmoon in late 2013/early 2014, had we both been at Ripple, I am certain we would have been buddies👬since we would have been the only 2 millennials there! ❤@VitalikButerin
The cryptocurrency space has existed for more than a decade now. Moreover, the leaders of the space are coming together to foster the development of the ecosystem as a whole. The Magical Crypto Friends is another collaboration between lead developers of Litecoin, Monero and leading investor, Samson Mow which aims to educate the mass via their monthly video discussions.
Should we have a monthly podcast with Justin Sun and Vitalik Buterin too? Please share your views with us. 
The post In Hindsight, Vitalik Buterin and Justin Sun Could Have been ‘Pals’ At Ripple Labs appeared first on Coingape.
Source: CoinGape

Could Binance (BNB) Coin Possibly Reach 100$ Valuation This Year?

Binance (BNB) Coin has shown remarkable rise this week. Binance seems to be performing a plethora of activities around the Binance (BNB) Coin.
Binance (BNB) has gained over 23% over the weekend. The price of Binance (BNB) coin at 15: 00 Hours on 19th April is 23.91. It is trading 10.58% higher on a daily scale. Moreover, it is trading over 23% higher on a weekly scale.
The Binance Chain registered its first genesis block to launch its blockchain and move from the ERC20 protocol. The balance of the binance token will be the same as when the BNB tokens on the new chain will be claimed an equivalent amount will be burnt from the Ethereum platform.
Binance also announced Enjin Wallet integration and Red Pulse token addition to the Binance DEX. Binance official account tweeted about the Red Pulse addition:
…adding our token to Binance DEX, and driving greater real-world applications of blockchain, specific to the knowledge and information space.
BNB/USD 1-Day Chart on Binance (TradingView)
Available Only on Some Exchanges
Binance (BNB) coin is probably the only cryptocurrency in the top ten cryptocurrencies by market capitalization which is available only on a few significant exchanges. Among the top Exchanges, Binance (BNB) coin is currently listed only Binance, Hit-BTC, Bit-Z, Lbank, and Hence, if the popularity of Binance (BNB) coin keeps increasing, an influx in volume can be expected from listing on other Exchanges. However, while listing on other competitive exchanges is unlikely, even interoperability enabled between IEOs would benefit Binance (BNB) coin, as it came first in the business.
Currently, Bit-Z and Binance Exchange hold the maximum trading volume for the Binance (BNB) Coin. Binance Exchange is the largest Exchange in the world in terms of market capitalization. Moreover, the Binance Decentralized Exchange (DEX) is expected to increase the user base of Binance Coin further.
Also Read: Binance Exchange Quietly Alters BNB’s Original Whitepaper With New Clause
Binance Decentralized Exchange
Earlier this month, CZ, the CEO of Binance had indicated that Binance DEX will be launched in April 2019. The much anticipated Binance Decentralized Exchange will one of the first popular decentralized exchange to be released.
CZ tweeted today by announcing the arrival of the Exchange:
The Binance DEX members gave me the honor to do the first transaction on Binance Chain. It’s FAST and SLEEK! Love it.
Moreover, to access the Binance DEX, Binance Chain wallet must be activated to register for the Exchange. Hence, the number of users of the Binance (BNB) Chain is expected to increase many folds with the launch of the Binance DEX. 
Do you think that the upside will continue or we will see resistance from the All-Time High? Please share your views with us.
The post Could Binance (BNB) Coin Possibly Reach 100$ Valuation This Year? appeared first on Coingape.
Source: CoinGape

Enjin Coin [ENJ] Keeps Surging Over 10 Percent With Binance Adding New Trading Pair

Although today’s crypto market isn’t surprising enough, it shows mixed signal – while few major coins declined swiftly, there’s one coin that stood up higher. Enjin Coin or ENJ becomes the hottest crypto among top 50 coins on Coinmarketcap.
According to the data provided by Coinmarketcap, Enjin Coin has surged by 10.05% over the past 24 hours. The coin has presently entered the zone of 50 and sits at 49th spot in terms of market capitalizations. Nevertheless, it is very close to stepping up IOST and Bittorent coin in average trading volume – as it counts the trading volume of $150,275,084 against IOTA $152,815,591 and Bittorent $157,747,084 respectively.

Image Source – Coinmarketcap
Although the specific reason behind ENJ price surge is not immediately available, the reports are closely indicating rising value with Binance’s new pair listing. As such the coin is trading with major volume at Binance exchange in pairs of ENJ/BTC, ENJ/USDT, ENJ/ETH, and ENJ/BNB.

Image Source – Coinmarketcap
Apart from Binance, few other exchanges where ENJ is getting a trading boost are – Bithumb, Upbit, LATOKEN, Bittrex, and Upbit in trading pairs of ENJ with KRW, ETH, and BTC.
While we see Enjin coin is trading higher at largest cryptocurrency exchange, Binance, it is worth to note that the exchange on April 17, 2019, added a new pair to ENJ coin. As announced, Binance users can now trade ENJ with USDT on Binance exchange – in fact, ENJ/USDT is one of the top trading pairs tradings at Binance exchange.
Founded in 2009 as a blockchain based community gaming platform, Enjin coin on April 16, 2019, announced the launch of blockchain asset supports to its new Ethereum explorer, EnjinX.
What’s your stake on ENJ’s price surge? Let us know in the comment below 
The post Enjin Coin [ENJ] Keeps Surging Over 10 Percent With Binance Adding New Trading Pair appeared first on Coingape.
Source: CoinGape

Huobi OTC Platform Launches VISA and Master Card Deposit Service

Huobi, the largest cryptocurrency exchange has announced that its Peer-to-peer trading platform or Over the counter trading platform (OTC) is enabling credit card deposit service. The platform is now supporting both VISA and Master Card after signing a new partnership with Simplex payment processing venture.
Huobi OTC Partnered with Simplex
Per the reports, the platform has tied up with Simplex, the platform which is already serving credit card services to Binance users. Nevertheless, Simplex is EU licensed financial institution which will enable Huobi OTC users to purchase supported cryptocurrencies (including Bitcoin, Ethereum, Litecoin, and XRP) using their debit and credit cards.
Moreover, according to the press release, Simplex supports daily deposits of $20k and $50k monthly with an average fee of around 3.5%. However, fees may vary – wherein its minimum fee for transactions count $10.
Concerning the partnership with Simplex, Ross Zhang, Head of Marketing for Huobi Group says that;
“Partnering with Simplex will allow us to significantly minimize the obstacles our customers face – something we are always interested in,”
Beside Huobi exchange, Simplex is already offering parallel services to Liquid exchange and Credit card accessibility across cryptocurrency platform is certainly enhancing users experience as well as boost the usability of various cryptocurrencies. Similar to Zhang, Simplex Co-founder and CEO, Nimrod Lehavi commented on the partnership with Huobi OTC platform. He says that;
“We’re thrilled to partner up with Huobi and together enable a much better, fast, and easy experience.”
Although credit card for crypto looks pretty cool but at the same time, it doesn’t serve the countries where regulations around crypto are uncertain. Indeed, it marks a potential adoption of crypto among the countries that quickly opens up the door to innovations like crypto & blockchain.
So readers, what’s your stake on Huobi OTC platform offering credit card services on crypto purchases? Let us know in the comment below
Image source – Huobi official
The post Huobi OTC Platform Launches VISA and Master Card Deposit Service appeared first on Coingape.
Source: CoinGape

Binance Exchange Quietly Alters BNB’s Original Whitepaper With New Clause

Major cryptocurrency exchange, Binance has recently updated its whitepaper which was first released back in 2017. Although the company’s visions and goals remain the same, Binance has altered a bit in terms of profit used for buy back tokens and token burning plan.
Per the reports, Binance has removed 20% of the profits which was set to use for buyback tokens. Consequently, such buy-back clause or as updated in the older version of whitepaper ‘repurchasing plan’ has been replaced with Token Burning’ clause.
However, the reason wasn’t immediately available but reports highlight CZ’s statement towards this change. According to media reports, Binance CEO CZ says that the whitepaper has been updated to explain users about the process of token burning undertaken at Binance exchange.
In CZ’s words;
“We recently updated our whitepaper to better describe how we actually conduct the burn. For example, we removed the buy back reference because we actually don’t repurchase BNB and simply reduce the supply by burning BNB. We also removed the profit language because some regions tend to associate profits with securities, and we would like to distance BNB from that. So going forward, we plan to describe the burn this way, and burn what we burn.”
Nevertheless, Binance’s statement confirms that exchange – in fact – doesn’t use its profit to repurchase BNB rather they destroy it in accordance with trading volume. Indeed, the exchange has recently completed its seventh coin burn of 829,888 BNB tokens.
Image source – TheBlockCrypto
Original Whitepaper that includes repurchase plan –
“Every quarter, we will use 20% of our profits to buy back BNB and destroy them until we buy 50% of all the BNB (100 million) back”
An updated version of a whitepaper that includes The burn clause –
“Every quarter, we will destroy BNB based on the trading volume on our crypto-to-crypto platform until we destroy 50% of all the BNB.”
Undeniably, Binance since the launch in 2017 – is constantly succeeding the new milestone. The news of clause change in whitepaper comes in a wake of Binance’s native blockchain launch. Following Mainnet launch, BNB tokens will soon be migrated from ETH network to Binance Chain network.
Let us know what do you think about Binance altered clause from its whitepaper.?
The post Binance Exchange Quietly Alters BNB’s Original Whitepaper With New Clause appeared first on Coingape.
Source: CoinGape

Binance’s Mainnet Swap to Execute on April 23 via Binance Chain’s Native Token

Binance’s long-awaited Binance chain has finally hit the headline today on April 18, 2019. Following Mainnet launch, its Swap is planned to execute on April 23.
Earlier this month, Changpeng Zhao or popularly known CZ, CEO of Binance cryptocurrency exchange has said in a Deconomy conference that the platform is launching its DEX later this month. However, today’s mainnet launch is what CZ had proposed during the conference.
The exchange said that the Mainnet Swap is proposed to happen on April 23, 2019, which might change depending on ‘how things progress’.
Binance has shared a couple of actions that has planned to be performed including the BNB creation in the genesis block. The explorer and web wallet of Binance chain will be available only for selected members which will undergo for testing mode – prior the public access on April 23, 2019. Accordingly, the migration of BNB from ETH network to Binance Chain will occur within April 19-April 23. As such, old BNB address (based on ETH address ) will be destroyed and consequently new BNB tokens will be built on top of Binance Chain network.

Moreover, the exchange has said BEP2, a Binance Chain BNB tokens will be used on April 23 when Binance users will be able to use Binance Chain address to process BNB withdrawal request. Means that old ERC-20 BNB tokens will then be migrated to BEP2 BNB tokens. It reads it as follows; 3 will assist with the BNB mainnet swap on April 23rd, 2019 at the earliest. If everything works as intended, then users will be able to provide a Binance Chain address for BNB withdrawal requests. The withdrawal will then act as a mechanism to convert ERC20 BNB tokens into BEP2 BNB tokens native to Binance Chain.
Moreover, who wish to still keep BNB on its ERC20 based BNB address (for any reason during the conversion period) then such users are expected to withdraw their BNB from account before 2 AM (UTC) on April 23rd and moved into Ethereum Wallet, the exchange said.

However, this announcement is followed by exciting hints and secrets by Binance official and CZ’s Twitter timeline. As coingape reported, the exchange and CZ, early in the morning shared tweets about the upcoming launch which certainly excited the whole Binance community.
Image source- Twitter 
The post Binance’s Mainnet Swap to Execute on April 23 via Binance Chain’s Native Token appeared first on Coingape.
Source: CoinGape

Binance’s Trust Wallet Adds Elon Musk’s Favorite Cryptocurrency

Binance’s official blockchain wallet ‘Trust Wallet’ has recently listed Dogecoin (DOGE) cryptocurrency. DOGE is presently the 26th largest cryptocurrency on Coinmarketcap.
Trust Wallet Adds DogeCoin
Announced on April 17, 2019, via Trust wallet’s official blog, DOGE cryptocurrency is now available with other leading cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Litecoin, and more. Trust Wallet’s founder Viktor Radchenko sees DOGEcoin as the ‘decentralized, peer-to-peer digital currency’. Concerning DOGE’s support, Radchenko says that;
“Adding Dogecoin boiled down to these 3 major points: Very Science. Many Community. So Amaze !!”
Source: Coinmarketcap
Since past few days, DOGE was on breaking headlines with the famous public figure ‘Elon Musk’ CEO of Tesla’. As coingape reported, Elon Musk, for a short span, appeared to be DOGE Coin’s CEO which soon after pushed the price of DOGE to an increasing graph. However, Trust Wallet’s latest DOGE listing is the result of an earlier poll which showed DOGEcoin as the second highest ranked coin with an increasing demand among trust wallet users.
Per the Twitter handles of TrustWallet on April 10, 2019, DOGEcoin bagged the second rank with 28% – wherein Cardano ranked first with 35%, NEO with 19% and EOS with 17% respectively.
Source: Coinmarketcap
The blog further reads that they have reached out Elon Musk to discuss this matter but left out without any response – as he said, ‘he left the company’.
DOGE at press time sits at 26th spot with an average trading volume $336,268,650. The coin is declining with 0.19 % over the past 24 hours which affects its trading value against USD. Consequently, the coin is presently trading at a value of $0.002823.
Nevertheless to note that Huobi exchange also made an announcement of listing DOGEcoin on April 03, 2019. Huobi’s announcement indeed comes in a wake of Musk’s comment towards DOGE as favorite crypto. In addition, Frank Fu, the CEO of Huobi Global also embraced DOGE and calls it as ‘darling of the cryptocurrency community’. He said;
“Dogecoin has become the darling of the cryptocurrency community with an impressive market cap that currently exceeds USD 350 million,”
So readers, what do you think about Binance’s Trust wallet listing Dogecoin? Share your thoughts with us.
The post Binance’s Trust Wallet Adds Elon Musk’s Favorite Cryptocurrency appeared first on Coingape.
Source: CoinGape

Stealth [XST] Rises 3750% – Is it Fundamental, Technical or Just A Freak Trade?

Cryptocurrency markets are known for their volatility and seeing huge spurts in coin prices Just couple of 100% is not really a big deal, but coins that rise over 1000% in a fraction of time is something that can be ignored. Today happened to be one such day when Stealth Coin (XST) rose over 3600%.
Was this Stealth (XST) rise Fundamental, Technical or just one freak trade?
Its been well noticed that crypto markets are pretty nascent and have been often caught not following any technical or fundamentals. Hence it sometimes becomes difficult to understand what actually caused the price rise in one particular coin. Same seems to be the case with Stealth (XST).
Source: Coinmarketcap
Fundamentally, the coin released a development blog on 12 April, which spoke about distributed clock used by Stealth coin’s qPoS. While this updated block was a basic roadmap update there was no such evidence as to why this coin saw a spurt.
This update although gave an insight on Stealth qPoS block production which is “scheduled” rather than being “competitive”. According to the blog
“Scheduling allows qPoS to have five second blocks with highly regular spacings, with any deviation typically in the milliseconds. This combination of fast, regular blocks gives a much better user experience. Users can send coins and expect them to be confirmed and spendable within a few seconds, quicker than most credit card transactions.”

Technically too there was no much reason as the coin has very low volumes and doesn’t see much movement. The price of the coin saw the rise of over 3600 %, which basically looks to have come from the Bitinka Exchange where the price is currently quoting at USD 4.50 compared to USD 0.1261 on Bittrex, the only other exchange where Stealth is listed.

What is Stealth (XST)
Stealth is a cryptocurrency project (by a developer named James) that aims to provide a completely secure blockchain with untraceable transactions, thanks to the integration of the TOR network. It plans to be the primary privacy coin, protecting user’s assets from snooping and maintaining their privacy. Stealth eventually plans to introduce an innovative new consensus mechanism called the quantum Proof-of-Stake (qPOS). Here, the node signing the block will be decided by a round-robin certification system, and block rewards would be dynamically adjusted and results-driven.
Stealth is a really interesting coin and its qPOS is really unique and could solve a lot of problems such as congestion. One will have to see whether the coin stays at this level or will it move back to its prices which were below USD 1.
Will Stealth (XST) continue to be in Top 50 coins? Do let us know your views on the same.
Disclaimer: this article is not financial advice and should not be used as one. It is only written for informational purpose. Do personal research, by contacting financial experts, before investing in any crypto.
The post Stealth [XST] Rises 3750% – Is it Fundamental, Technical or Just A Freak Trade? appeared first on Coingape.
Source: CoinGape

Vitalik and Hoskinson Support #DelistBSV, But Concerned About Centralization of Cryptocurrency Exchanges

Crypto-Twitter felt a sense of triumph when Binance and other Exchanges like Kraken and Shapeshift decided to De-list Bitcoin Satoshi Vision (BSV). Moreover, this the first time that a split between ideas resulted in delisting rather than opting for another ‘Fork.’
John McAfee tweeted on the issue:
“If BSV was his true vision then either Satoshi is the worst communicator in the world, or Craig Wright, Calvin Ayre and BSV are frauds.”
However, what feels like a unanimous decision was actually influenced by one Exchange’s immediate decision. The price of the delisted token fell by 21% in hours of the announcement. Hence, there were many users on the BSV chain who suffered losses which also might have been oblivious of the claims on Satoshi’s identity; not many people outside the crypto-community knows lead proponents of cryptocurrencies.
Centralization of Exchanges an Alarming Issue
Furthermore, BSV proponents have claimed that delisting was a violation of the right of free speech for Craig Wright. While Crypto-Twitter is united against Wright’s claims and the delisting, there is another alarming issue addressed by industry leaders.
Vitalik Buterin, the co-founder of Ethereum also noted on the issue:
“…I agree #DelistBSV is not a free speech violation for a different reason: exchanges are already selective so listing is active promotion, not “just letting the market play out man”
Binance is the largest Exchange in the world, and it is centralized. In fact, CZ can influence the price of any cryptocurrency by just ‘threatening to delist.’ Moreover, we have often seen how the listing of cryptocurrencies on Exchanges create a short term ‘pump and dump.’ It was evident with the ‘Coinbase effect‘ too where just anticipation of listing on Coinbase would drive the price of a cryptocurrency.
Charles Hoskinson, the CEO of IOHK, the firm behind the launch and development of Cardano platform tweeted on the issue saying:
“Exchanges are not public utilities, they are businesses often run by private owners. If you want a utility, then invest in or use a DEX. Don’t complain about the BSV delisting and cite free speech or some other appeal. It doesn’t exist with private companies.”
Hoskinson and Vitalik’s tweet on the issue suggests that privately managed Crypto Exchanges with such a large user base creates a monopolistic or oligopolistic market. Individual players are empowered to influence the market considerably. Hence, in its drive to bring decentralization in the World economy, the crypto-community seems to be moving towards centralization within the crypto-sphere itself.
There are many other centralization issues associated with Cryptocurrency Exchanges. Most importantly, the private key and custody issue, as Cryptocurrency Exchanges acts as custodian of the cryptocurrencies for their users. Since its inception ten years earlier, many Exchanges Wallets have been hacked and millions of dollars misplaced at the hand of the Exchanges.
Therefore, Decentralized Exchanges and personally managed open-source crypto-wallets are the only way forward towards a truly decentralized, secure and trust-worthy Blockchain ecosystem. Furthermore, Decentralized Exchanges can opt for a democratic process for listing and delisting of cryptocurrencies to ‘give the control back to the community.’
Is a shift to Decentralized Exchange need of the hour or crypto needs more centralized supervision? Please share your views with us. 
The post Vitalik and Hoskinson Support #DelistBSV, But Concerned About Centralization of Cryptocurrency Exchanges appeared first on Coingape.
Source: CoinGape

Binance [BNB] Coin Nears its All-Time High; What’s Really Going On?

Binance [BNB] has risen by more than 200% since the beginning of the year. Binance has also recovered around 80% value from it’s All-Time High (ATH). The All-time High (ATH) value of BNB is $26.5.
Binance [BNB] coin registered at a high of above $22 on 1st and 2nd April 2019. BNB is currently placed ranked 7th wr.t. total market capitalization with above $2 billion valuations.
BNB/USD 1-D Chart on TradingView
The RSI on the daily scale w.r.t USD is poised between over-bought and the over-sold region at around 50. Furthermore, BNB registered it’s ATH w.r.t Bitcoin [BTC]  on 1st April 2019 at 0.0044225 BTC. The RSI on the daily w.r.t. BTC is further lower.
BNB/BTC 1-D Chart on Binance (TradingView)
7th Binance Coin Burn
Binance recently reduced its total supply by performing a ‘coin burn.’ Binance removed 829,888 BNB coins from circulation forever in its 7th coin burn event. Totally more than 10 million BNB coins have been burned. Hence, as the circulating supply is decreased, it has a positive effect on the price.
The total supply of Binance is 189,175,490 BNB. It has been reduced by more than 5% from its original supply of 200,000,000 BNB. Eventually, only 100,000,000 BNB or 50% of the supply will exist after all coin burn events are conducted.
Binance Launchpad
Binance Exchange sprang out of no-where in 2017, eventually became the largest Exchange in the world in terms of the trading volume. The Binance [BNB] coin trading pairs are popular within the exchange and the cryptocurrency is both fast and efficient as well. Moreover, Binance also added more utility to the Binance [BNB] Coin by introducing the Binance Launchpad. Three projects have been released and one more is underway.
“Binance is a successful case study of fundraising on the blockchain” Binance CFO Wei Zhou, said at the Paris Blockchain Conference Organised by the French Ministry of Economics and Finance.
However, the latest token is to be launched on 24th April for which the Binance Lottery System has been implemented which might be influencing the price currently. The final snapshot of the BNB balance to assign the lottery tickets respectively ends on 24th April as well. Hence, a drop can be expected in the coming week after the utility of the coin is reduced temporarily.
The price of Binance [BNB] coin at 3: 30 Hours UTC on 17th April 2019 is 19.73. It is trading 3.52% higher on a daily scale.
Do you think that the upside to Binance [BNB] coin will continue and it will register new an ATH? Please share your analysis with us. 
The post Binance [BNB] Coin Nears its All-Time High; What’s Really Going On? appeared first on Coingape.
Source: CoinGape

What Happens When Litecoin Mining Block Rewards Halves in August 2019?

Litecoin was one of the earliest spinoffs of Bitcoin which came into existence in October 2011 and since then the coin has stayed pretty identical to Bitcoin. Just like the Bitcoin, Litecoin too would be undergoing the mining reward halving process in August 2019 and every stakeholder needs to be prepared for the event as to what could be the probable consequences. Binance Research explains
Litecoin’s block profitability will be cut in half in the span of 5 minutes
In crypto world, halving is a fixed event when the block rewards cut into half and the profitability from a block is reduced to 50%. For Litecoin, its chain’s block rewards for mining are perpetually reduced by one half every 840,000 blocks. With the way, the current block generation time is set to ~2.5 minutes this event is occurring is scheduled to happen every four years. Litecoin’s current block reward is set at 25 litecoin per block and will subsequently decrease to 12.5 litecoin per block around August 6th (at exactly block 1,680,000)
Litecoin has had just one block halving in August  2015 when the price of the coin  increased from around 1.5 USD (3 months before halving) to over 3 USD post-halving, with a peak of 7 USD  in mid-July 2015 while the hashrate dropped by roughly 15% around the event, before quickly rebounding in the two weeks following the halving.
While the past is behind us there are four possible “watch outs” for Litecoin block halving this time. These include

Price Rallies Before Stabilizing at a new high: The price of Litecoin has already started rallying since the beginning of the year, exhibiting a 200% year-to-date return, while the broader market is up by 40% YTD
Hashrate Increases Before The Halving: This too has already happened. As the rewards will be halved, more miners may decide to start mining Litecoin (instead of other currencies) as they want to mine as much litecoins as possible short-term in anticipation of the future decrease in mining rewards
Mining Profitability Adjust as Miners Exit the Market: If some miners were to leave the market and/or switch over to mining other, more profitable coins, the hash rate would decrease. As a result, this reduced competition would help compensate for the loss of profitability due to the absolute block reward reduction.
Permanent Drop in Mining Profitability: If Litecoin’s post-90-day price post-halving would be near its historical long-term median, all other things being equal, it would result in lower profitability for all Litecoin miners

While there could be many possibilities depending on how the coin is placed closer to the halving date. However, rational miners would still consider the marginal profitability and opportunity costs of mining each PoW cryptocurrency over the same time periods to decide whether or not it is more profitable to mine Litecoin or other cryptocurrencies. While the event is important for every Litecoin stakeholder, with no much history in place it becomes difficult to predict what would actually happen.
What do you think would be the possible outcome of Litecoin halving? Do let us know your views on the same.
The post What Happens When Litecoin Mining Block Rewards Halves in August 2019? appeared first on Coingape.
Source: CoinGape

Bitcoin Cash [BCH] Hits Higher, Trades at $320 Amidst its Fork Dipping the Bottom

Amidst the rising debate of delisting of Bitcoin Cash’s fork BSV cryptocurrency from the various trading platforms, Bitcoin Cash (BCH) becomes the hottest coin that blinks with the positive figure of $320 against US Dollar.
Although Bitcoin and other major cryptocurrencies hit Monday market with budding figures, it is slightly turning their ways back. While Bitcoin is declined with 1.41 percent over the past 24 hours, other cryptocurrencies including Ethereum, XRP, EOS, Litecoin Coin, Binance Coin, Tether, Stellar and Cardano also trading slightly below.
Source: Coinmarketcap
Bitcoin Cash becomes Hottest Coin
Nevertheless, despite today’s red figures across the leading cryptocurrencies on the graph of Coinmarketcap, Bitcoin Cash is the only potential cryptocurrency which has gained over 6 percent growth within the past 24 hours.
However, it is interesting to note that ‘BCH’s own fork BSV is already sided down from 12th position to 14th position after delisting decision by Binance and Shapeshift exchange. Since the controversy around BSV and its creator Craig Wright begun, this infamous cryptocurrency suffered significant loss – in fact, the currency which was trading at approximately $83 against US dollar is plummeted down to $56 at press time.
Source: Coinmarketcap
Eventually, BSV has lost its major value of 21.36 percent since the last 24 hours and trading at the value $56 against US Dollar. As such, its demur becomes the potential opportunity for Monero and Dash which is presently sitting at 12th and 13th spot respectively.
Bitcoin Cash itself is the fork of Bitcoin which occurred on August 01, 2017 at 12.20pm and later in the year 2018, BCH network update has resulted in two networks; BCH ABC and BCH SV. Nevertheless, BCH ABC or Bitcoin ABC is called as Adjustable Blocksize Cap wherein BCH SV or Bitcoin SV is known as Bitcoin Satoshi Vision. While Bitcoin ABC is led by Roger Ver, on the other hand, Bitcoin SV is led by Craig Wright who is at the center of ongoing Satoshi Nakamoto’s identity controversy.
So readers, what’s your take on BCH’s rise and BSV’s decline? Let us know in the comment below.
The post Bitcoin Cash [BCH] Hits Higher, Trades at $320 Amidst its Fork Dipping the Bottom appeared first on Coingape.
Source: CoinGape

OKEx Denies BSV Delisting While Major Exchanges Already Delisted – Here’s Why

While major exchanges already delisted BSV from their trading platforms, OKEx is one odd out in crypto space. The exchange recently announced that they have no intention to delist BSV because the ‘present controversial currency’ doesn’t meet OKEx’s delisting criteria.
OKEx is One Odd Out
The controversy around ‘Satoshi’s identity as Craig Wright’ led major exchanges to delist BSV from their trading platforms. As such, Binance CEO warns and took initiative to delist BSV, the suit is then followed by other exchanges including Shapeshift, and Kraken is all set to walk on the same footprints. However, the case for OKEx is quite different.
Source: Twitter
The exchange released a new blog post entitling ‘Regarding Bitcoin SV Listing’ and states as follows;
OKEx has conducted a rigorous review on BSV in terms of technology development, liquidity, and compliance reads Blog. According to the OKEx Token Delisting and Hiding Guideline, BSV currently does not meet our delisting criteria. As such, OKEx has no intention to delist BSV for the time being.
Is Upcoming BSV Based Exchange the Reason?
OKEx’s BSV support amidst increasing controversy is closely connected to exchange’s earlier announcement of launching ‘BSV centric exchange’. As Coingape reported, the exchange entered into the partnership with ‘Jack C. Liu’, a crypto-entrepreneur to launch a new exchange dedicated only to BSV cryptocurrency – as such it will be called as ‘Float SV exchange.
Although OKEx doesn’t connect Float SV with its support to BSV currency in its blog– rather, it mentioned the reason behind constant support is ‘token delisting criteria’. Nevertheless, according to OKEX, BSV is doesn’t fall under their delisting guidelines. You can check with OKEX’s token delisting guidelines here
Conclusively, the exchange notes that it respect the efforts of all dedicated team that enlighten technology underlying Bitcoin. Indeed, it meant with BSV team and reads that
As a neutral platform, OKEx respects the efforts of all dedicated teams in advancing the technology of Bitcoin and has no inclination to certain technical directions.
What’s your stake on OKEx’s support to controversial cryptocurrency? Do you think the exchange is bound by its former announcement of Float SV exchange (Based on BSV cryptocurrency)? Let us know in the comment below
Featured Image source – OKEx Twitter 
The post OKEx Denies BSV Delisting While Major Exchanges Already Delisted – Here’s Why appeared first on Coingape.
Source: CoinGape