Crypto Market Wrap: Could Binance Coin Flip Stellar (XLM) Soon?

Market Wrap
Crypto markets continue consolidating; Litecoin back in fourth, BNB, XLM and NEM moving, Maker falls back.
Movements have been minimal on crypto markets as we round out another week. The good news is that gains made this time last week have held for now but signs of further upward motion have not materialized. Total market capitalization has remained over $120 billion as the consolidation continues.
Bitcoin is range bound in a very tight channel at the moment between $3,600 and $3,650. It has not changed in price since the same time yesterday but has consolidated above support levels so could move higher in the short term.
Ethereum is still flat at $123 with zero movement over the past few days. Momentum is expected as Constantinople draws closer next week. XRP is holding $0.30 and also range bound, the gap between the two remains at $300 million.
There is not much to report in the top ten during the day’s Asian trading session. Litecoin has re-flipped EOS and taken fourth place back with a 2.5% gain to $43, though the gap between them is negligible. Binance Coin is yet again the top mover here with 4% added and a rare blip by Stellar has sent XLM up 2.5% on the day – the gap between the two is now only $200 million.
NEM has made the biggest move in the top twenty with 5% as the organization restructures and moves forward with the project. Very little else is going on and a few such as Monero, Maker, and Zcash are falling back 3% or so.
Crypto.com’s MCO token its getting today’s fomo spike with a 26% jump as Singaporean crypto credit cards gather steam. Tezos is also having a good Friday with 8% added on the day. At the red end of the top one hundred is MOAC dumping 10% and yesterday’s pumped Komodo dropping 7%.

Total market capitalization dipped back to $119 billion but has recovered to the same level as yesterday, $120 billion. The sideways motion continues and there is very little going on with markets at the moment. Gains made in last Friday’s big pump have held for the week leaving markets at the same place they were this time last month.
Market Wrap is a section that takes a daily look at the top 20 cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals
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Crypto Market at Key Turning Point: BNB, EOS, Bitcoin Cash, Tron (TRX) Analysis

The total crypto market cap seems to be struggling near the $118.0B and $119.0B resistances.
EOS price started a downside correction and declined below the $2.85 support level.
Binance Coin (BNB) is performing nicely and it is currently up around 2.5% to $9.20.
Bitcoin cash price is currently consolidating above the $122 support level.
Tron (TRX) price broke a key support and settled below the $0.0250 level.

The crypto market is facing an uphill task, with bearish moves. Therefore, there is a risk of bearish reaction in bitcoin (BTC), Ethereum (ETH), Binance coin (BNB), BCH, ripple, EOS, TRX and ADA.
Bitcoin Cash Price Analysis
Bitcoin cash price struggled to stay above the $125 resistance level and later declined against the US Dollar. The BCH/USD pair moved below the $124 level and tested the $122 support. The pair is currently consolidating above the $122 support, with the next immediate support at $120.
If there is a fresh upward move, the price could face a strong resistance near the $125 level. On the downside, a break below the $120 support level might spark heavy bearish moves in the near term.
EOS, Tron (TRX) and BNB Price Analysis
EOS price rallied recently and traded towards the $2.95 and $3.00 resistance levels. Later, it started a downside correction and traded below the $2.85 and $2.80 support levels. The next key support is near $2.75 and $2.72, where buyers are likely to emerge.
Tron started failed to stay above the $0.0270 and $0.0265 support levels. TRX price declined recently and broke the $0.0255 and $0.0250 support levels. The price is currently trading near the $0.0240 level, with an immediate support at $0.0235. The main resistance is at $0.0255 (the previous support level).
Binance coin (BNB) performed really well in the past few days and rallied above the $8.00 and $9.00 resistance levels. BNB even traded above the $9.50 level and later corrected lower. The price is currently trading above $9.10 and it seems like it could revisit the $9.50 resistance in the coming sessions.

Looking at the total cryptocurrency market cap hourly chart, there was a downside correction from well above the $120.0B level. The market cap declined below the $118.0B support and tested the $115.0B support. It is currently consolidating in a range, plus facing a strong resistance near the $118.0B and $119.0B levels. As long as the market cap is below the $118.0B and $119.0B levels, there is a risk of a downside reaction. On the downside, a break below the $115.0B support could spark bearish moves in bitcoin, ETH, tron, litecoin, EOS, ripple, stellar, litecoin and other altcoins in the near term.
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Binance Set to Release Its Decentralized Exchange for Public Testing Next Week

CoinSpeaker

Binance Set to Release Its Decentralized Exchange for Public Testing Next Week

CEO of Binance has announced the date when their new decentralized platform called Binance DEX will be launched for public testing.

Binance Set to Release Its Decentralized Exchange for Public Testing Next Week

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Source: CoinSpeaker

Mike Novogratz: All the Big Macro Funds Should Hold at Least Small Percentage in Bitcoin

CoinSpeaker

Mike Novogratz: All the Big Macro Funds Should Hold at Least Small Percentage in Bitcoin

Mike Novogratz, the chief executive of the TSX-listed Galaxy Digital, made a surprising remark that came straight out of left field saying that he doesn’t understand why large macro funds don’t have a 1% position in Bitcoin (BTC).

Mike Novogratz: All the Big Macro Funds Should Hold at Least Small Percentage in Bitcoin

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Source: CoinSpeaker

Crypto Market Wrap: Dash Moving Up as Markets Stabilize

Market Wrap
Crypto markets have stabilized and there is little action; Binance Coin and Dash are still heading up, Bytecoin is dumping.
The big crypto market pump on Friday and Saturday ran out of steam yesterday and things have been pretty static ever since. Total market capitalization has stabilized at this new level above $120 billion for now and a new direction has yet to be formed.
Bitcoin spiked a couple of hours ago to hit resistance at $3,700 before bouncing right back off of it. BTC has pulled back to where it has traded for much of the past 24 hours, $3,650. Daily volume is slightly higher at $6.4 billion but things are holding steady at this level for now.
Ethereum is still gaining slowly and has finally surpassed XRP to take second place. ETH hit an intraday high of $125 before falling back to $120 where it currently trades, still up a percent or so on the day. XRP conversely has fallen back 1.5% dropping to $0.305 and shedding market cap enabling the ETH flip. The two are still very close though with the current gap at just over $100 million.
There has been little movement in the top ten over the past 24 hours. Binance Coin continues to strengthen and has added a further 3% on the day taking BNB to $9.40. It is now less than $200 million away from Stellar in ninth which keeps sliding. Litecoin has remained strong and is currently just over $44 and clear of EOS in fifth.

Dash is the top performer in the top twenty at the time of writing with 6% to $78 on the release of Dash Core v0.13.1. Maker has flipped both Ethereum Classic and NEM as it takes 17th place and Waves is about to enter the top twenty with a 4.5% gain. Monero and IOTA are both falling back a couple of percent.
Ark is getting the fomo treatment at the moment as it pumps 26% as the team updated their mobile wallet adding dynamic fees. Ark is the only altcoin in double digit gains at the moment. There are no big dumps going on during the day’s Asian trading session but those at the red end of the top one hundred include Bytecoin and Chainlink.
Total crypto market capitalization has remained above $120 billion since late Friday’s $10 billion cash injection. Very little has occurred over the past 24 hours however volume has increased to over $20 billion indicating another move could be coming soon. Bitcoin dominance is just below 53% at the moment as markets stabilize once again.
Market Wrap is a section that takes a daily look at the top 20 cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals
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Crypto Market Update: Binance Coin (BNB), Bitcoin SV, Tron (TRX), ADA Price Analysis

The total crypto market cap recovered recently, but it could struggle near the $108.50B resistance.
Binance coin (BNB) extended gains and traded above the $8.00 resistance.
Bitcoin SV price gained more than 8% and broke the $60.00 resistance area.
Tron (TRX) is slowly moving higher towards the $0.0265 resistance level.
Cardano (ADA) price is currently consolidating above $0.0350 and $0.0360.

Binance coin (BNB) and bitcoin SV performed really well recently. However, the crypto market, bitcoin (BTC), Ethereum (ETH), TRX, ripple, ADA and others might continue to struggle.
Bitcoin SV Price Analysis
After a steady, bitcoin SV found support near the $50 level against the US Dollar. After trading in a range for some time BCHSV/USD started an upside move above the $58 resistance. The price gained traction and rallied more than 8% to settle above the $60 resistance.
It is currently trading above the $62 level and it seems like it could continue to move higher towards the $65 and $70 resistance levels.
Binance coin (BNB), Tron (TRX) and ADA Price Analysis
Binance coin price extended gains after it broke the $6.00 and $6.50 resistance levels. BNB price broke the $7.50 and $8.00 resistance levels as well, opening the doors for a push towards the $9.00 or $10.00 resistance.
Tron price traded within a tight range above the $0.0250 support level. TRX might gain traction and it could climb towards the $0.0265 and $0.0272 resistance levels. The main supports on the downside are $0.0255 and $0.0250.
Cardano price declined in the past few days and settled below the $0.0380 support level. ADA tested the $0.0360 support level and it is currently consolidating losses. On the upside, there are many resistances near $0.0372 and $0.0380.

Looking at the total cryptocurrency market cap hourly chart, there was a sharp decline toward the $106.5B support level. Later, the market cap recovered and corrected above the $107.0B and $107.5B levels. However, there is a strong resistance formed near $108.5B, $109.0B, and a bearish trend line on the same chart. Therefore, upsides are likely to remain capped in bitcoin, Ethereum, ADA, ripple, tron, XLM, litecoin and other altcoins in the short term.
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All Change In Crypto Market Cap Charts as Another Dump Begins

The top cryptocurrencies by market capitalization is an ever shifting list as new winners emerge to usurp yesterday’s champions. Another market dump appears to have initialized shaking up the order of things in this crypto chart once again today.
Ripple Extending Lead, BNB Surging, Cardano and Stellar Sliding
Ethereum has suffered heavier losses than its brethren lately which have resulted in a dwindling market cap as its price approaches $100. Today’s plunge has sent ETH a further 3.5% down as it dumped to $103.5 in one big dive a couple of hours ago. At this rate Ethereum will be in double figures again by the end of the week, back to mid-December or May 2017 prices. Some, however, have predicted the opposite using fractal patterns to indicate an upswing for Ethereum.
Ripple’s XRP token has again weathered this recent purge a little better, only dropping 2% to remain at around $0.29. This has increased the gap between the two to $1.2 billion as the market cap of Ether shrinks back to $10 billion. There have been reports of an inflated market cap for XRP but at the current time Coinmarketcap.com is reporting it to be just over $12 billion.
EOS is just above Tether in fourth at the time of writing but this is likely to change if the selloff accelerates. Bitcoin Cash and Litecoin are battling for sixth spot, as both have a market cap of just below $2 billion at the moment. BCH usually falls harder as it has done today dumping 4.7% over the past 24 hours.
Tron has held on to eighth spot as TRX has been one of the best performing altcoins this year. Momentum has largely come from the BTT token sale and associated airdrops. Even with today’s loss of 3.6% TRX is up over 35% since the beginning of the year while all those around it have declined.
Cardano has been dumped right out of the top ten back down to twelfth spot as it gets flipped by Binance Coin. BNB is the only altcoin in the green at the moment with a 14% gain boosting its market cap to just over a billion dollars. This has allowed it to take over from Bitcoin SV also which has been heading downward since its birth a couple of months ago. BNB is now a top ten crypto in that elusive group of billion dollar coins.
A new order is forming between the top cryptocurrencies and as it stands TRX and BNB are the clear winners while previous top rated coins such as ADA, XLM and IOTA dump further down the list.
Image from Shutterstock
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January Crypto Roundup: Tron Surged, While Bitcoin Cash, SV, Stellar, IOTA and NEM Dumped

Following the lowest month for over a year in December markets started to recover over the New Year. Progress continued steadily until January 10th by which time markets had recovered almost 40%. The bulls did not stay around for long though as a huge dump wiped out $16 billion in two days sending markets back down towards their lowest levels again. Over the month markets lost 8.6% ending at just over $115 billion total capitalization.

Bitcoin hit a huge wall of resistance at $4,000 which it could not overcome and further losses were predicted. It came as no surprise then when BTC dumped to its next support turned resistance level of $3,600. This broke down before the end of the month sending Bitcoin lower still, ending January 8% down at $3,440.
January Crypto Winners
Litecoin is one of the few crypto assets that ended January higher than it started. LTC only made 3% but it was enough to keep it afloat while those around it crumbled. Litecoin ended January at $31.60 after reaching a monthly high of $40.
Tron surged in January starting out at $0.019 and ending at $0.026. The BitTorrent token launch and associated airdrops to TRX holders has been the primary factor in Tron’s performance and impressive 37% gain over the month.
Binance Coin also ended January marginally higher than it started. BNB was just under $6 on New Year’s day and finished the month 3% higher enabling it to flip Monero and Iota for twelfth spot.
January Crypto Losers
Ethereum’s downward spiral accelerated in January as the long awaited Constantinople hard fork was delayed. ETH got smashed again dumping 20% over the duration of the month to end it battered and bruised at $107 after reaching $160 a week after new year.
XRP losses were less which enabled the Ripple token to extend its lead over Ethereum and hold on to second spot. Starting out at $0.355 XRP ended January 12% lower at $0.311. It made two efforts at recovery but the sellers were just too strong to maintain them.
EOS retracted by almost 10% in January as it fell from $2.57 to $2.32 by the end of it. The only good news is that it moved up to fourth in the market cap chart as losses were greater for the altcoins above it.
Both Tether and EOS have flipped Bitcoin Cash which dumped a whopping 30% in January ending the month at $115. BCH has been one of the largest crashes of all cryptos dumping over 97% since its all-time high.
Stellar has had a rotten time in January dumping 26% to below ten cents. The SDF has made good fundamental progress but that could not prevent XLM dumping down to ninth place in the market cap charts, hitting a new low for 15 months, and ending January at $0.083.
Bitcoin SV seems to have died as quickly as it was born. The BCH offshoot dumped 28% in January ending the month at a lowly $64 after starting it at $90.
Looking at altcoins in the top twenty paints an equally bleak picture for most of them. Cardano, which has lost almost every month over the past year, dumped another 6% as did Monero. Iota took a beating in January dumping 27% and sliding two spots further down the market cap chart. Dash also got bashed with a 14% slide.
NEO dropped 7% in January but it fared much better than Ethereum Classic which dumped 22%. NEM, which is facing major financing woes, dumped 33% over the course of January. Rounding out the top twenty is Zcash which shed 12%. The crumbling market caps has enabled another stablecoin to end the top twenty, Coinbase and Circle’s USD Coin is currently at nineteenth spot with $292 million cap.
The minor recovery from 2018 lows did not last long for most cryptos resulting in them ending January lower than they began it. In summary January’s crypto winners were Tron, Litecoin and Binance Coin while those dumping the hardest were Bitcoin Cash, Bitcoin SV, Stellar, Iota and NEM.
All figures from Coinmarketcap.com
Previous months: February | March | April | May | June | July | August | September | October | November | December
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Altcoins Plunge as Bitcoin and Crypto Markets Drop Below Recently Established Support Levels

Over the past couple of weeks, the crypto markets have experienced a persisting bout of sideways trading that didn’t allow for any major price action in the altcoin markets. Today, however, the typical crypto volatility returned in full force, sending most major altcoins and Bitcoin down significantly over the past 24-hour trading period.
Today’s drop led most altcoins to break below their previously established support levels, which puts further losses in play in the near-term.
Analysts: Ethereum Likely to Drop Further as Altcoins Sink
Throughout the past few weeks, Bitcoin had found support at approximately $3,500, as it tested, and bounced, at this level on multiple occasions. This led Bitcoin to establish a tight trading range between $3,550 and $3,650, which it traded in for the past week.
Earlier today, Bitcoin plunged below its support level in the low-$3,500 region, which sent most major altcoins sinking.
At the time of writing, Ethereum (ETH) is trading down nearly 9% at its current price of $105. ETH appears to have found some support around $100, as it bounced slightly once this price level was touched earlier today.
Analysts agree that if Ethereum is unable to hold above $100, it will likely sink towards its 2018 lows that were set at around $85 in mid-December of last year.
Chonis Trading, a popular cryptocurrency analyst on Twitter, spoke bearishly about ETH late last night, saying that significantly lower lows will be in play if the cryptocurrency is unable to maintain above $100.
“$ETH – had a 100% move from the Dec lows which puts the 78.6 fib retrace right at the November low’s sub $100. A failure to hold the century mark setups up much lower price targets,” he explained.

$ETH – had a 100% move from the Dec lows which puts the 78.6 fib retrace right at the November low’s sub $100. A failure to hold the century mark setups up much lower price targets #ethereum pic.twitter.com/PiDwCClphc
— Chonis Trading (@BigChonis) January 28, 2019

Alex Krüger, a popular cryptocurrency analyst on Twitter, shared a similarly bearish sentiment, saying that trader’s stop losses getting hit should cause ETH to move back into the double digets.
“ETH moving back to two digits should bring volatility as stops get run over,” he said.

ETH moving back to two digits should bring volatility as stops get run over.
— Alex Krüger (@Crypto_Macro) January 28, 2019

Crypto Market Plunge Led by Binance Coin and Bitcoin Cash
Today’s volatility has caused virtually all cryptocurrencies to drop, with Bitcoin Cash and Binance Coin both plunging over 10%.
Bitcoin Cash (BCH) is one of today’s worst performing cryptocurrencies.
At the time of writing, Bitcoin Cash (BCH) is trading down 11% at its current price of $110. BCH is down significantly from weekly highs of over $130.
Binance Coin (BNB) has also felt the strong effects of today’s drop, as it is currently trading down over 12% at $6.20. Although BNB is one of today’s worst performing cryptocurrencies, it has seen some relatively large gains over the past couple of weeks, rising from lows of $5.50 in mid-January to highs of over $7.10 yesterday.
Although XRP has also dropped today, it is still currently one of the better performing altcoins as it is currently trading down just over 6%. XRP was not able to stabilize above $0.30, and it has once again dropped into the $0.20 region at its current price of $0.29.
Featured images from Shutterstock.
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Crypto Market Wrap: Binance Coin Flips IOTA as Markets Slide

Market Wrap
Crypto markets falling back again, Tron staying put but Ethereum , BCH and Iota sliding again.
The tedium continues as crypto markets pull back again today in a slow downward slide. Total market capitalization has dropped back below $120 billion, and with no signs of bullish momentum further losses look likely.
Bitcoin bounced off resistance at $3,600 a few hours ago and dropped back a fraction to $3,570 where it currently trades. Daily volume has remained over $5 billion but there are no signs of any form of recovery which only means one thing; the bears are still in control of Bitcoin.
Ethereum is even weaker today with a 2% slide to $116. From a seven day high on Saturday ETH has dumped 7% and looks to test support at $114. XRP remains $700 million ahead of ETH in terms of market cap as it only drops one percent on the day.
The top ten is all red aside from Tron which has managed a small gain of 1.5%. Big airdrop momentum is likely to keep TRX buoyed up for a week or so. Bitcoin Cash is losing yesterday’s gains and the rest are sinking back a percent or two during today’s Asian trading session.
A similar pattern is playing out in the top twenty as it too is completely red at the time of writing. Iota has dumped the most losing 4% which has enabled Binance Coin to flip it and take twelfth spot with a market cap of $837 million. Dash and Ethereum Classic have shed 2% each and the rest are flat or falling marginally.
Holo is pumping again with a 37% fomo induced surge today. DigixDAO is the only other altcoin in green double digits at the time of writing as DGD adds 12%. Very few other cryptocurrencies are making any significant gains today. Mixin and Loopring are dumping 18% each at the moment, TenX is not far behind with a 15% loss on the day.

Total market capitalization is back at $119 billion after losing over a percent on the day. Things were equally inactive this time last Thursday and there has been little movement all week. Since the post-Christmas dump markets have been range bound between $120 and $135 billion but they appear about to fall through the bottom of that channel at the moment.
Market Wrap is a section that takes a daily look at the top 20 cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals.
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Crypto Market Wrap: Binance Coin Buoyed By New Fiat Exchange

Market Wrap
Crypto markets haven’t done much over the past 24 hours, the top ten is flat, Cardano and Binance Coin gaining slightly.
There has been very little movement in crypto markets over the past 24 hours. No further dumps have been initiated which has kept total market capitalization just above $120 billion for another day.
Bitcoin has held above $3,600 support but only just. It reached an intraday high of $3,685 before pulling back again, currently down a third of a percent on the day. This time last week Bitcoin was still over $4,000 but since the big dump it has remained flat, consolidating in this tight range for now.
There has been still no movement in the Ethereum camp which is lulling around $120, exactly where it was this time yesterday. XRP has fallen back a little reducing the market cap gap between second and third places to $600 million.
The top ten is completely flat with no altcoins moving more than a percent in either direction. EOS is the only token in the green but gains are negligible and Bitcoin Cash is dropping the most as usual.
There are a couple of coins making moves in the top twenty but gains are only 3% or so. Cardano, Binance Coin and Maker are the only ones gaining, BNB buoyed 4% by the news of a new Binance fiat exchange launch in Jersey. The rest are totally flat or falling back a fraction of a percent.

Official Launch of #Binance's EUR/GBP Fiat Exchange – https://t.co/FW7TuvT7pohttps://t.co/BG7cKD5Ukg pic.twitter.com/36R626Rxle
— Binance (@binance) January 16, 2019

Two altcoins are getting the big dose of fomo during the Asian trading session today. Augur and Loopring are both pumping 45% at the time of writing. Power Ledger is also flying with 32% added on the day and Status has made 25%. Getting dumped are Buggyra Coin shedding 16%, followed by Aurora and Dentacoin dumping 12% each.

Total crypto market capitalization is exactly where it was this time yesterday, $121 billion. Markets did gain $2 billion over the past 24 hours but lost it again equally as fast. Daily volume has remained steady at $16 billion. This time last week the big dump started but since then markets have been trading sideways.
Market Wrap is a section that takes a daily look at the top 20 cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals.
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Binance coin [BNB] to move from Ethereum blockchain to its own blockchain, says CZ

Binance’s CEO Changpeng Zhao aka CZ gave insights on the Binance’s new decentralized exchange, Binance DEX, which would operate on the Binance chain with native currency as Binance Coin [BNB] in a Cointelegraph interview.
CZ also said that the new decentralized exchange was similar to Ethereum’s ERC20 tokens but it additionally allows you to trade between tokens like the Binance Coin. He said that cryptocurrencies’ main aim was to be fast and drop the middle man which effectively reduced the fees, but even now, Bitcoin network takes a lot of time for transacting on-chain and also has huge fees.
Changpeng Zhao added:
“The Binance DEX also lives on the Binance chain that allows you to trade in a decentralized manner… Cryptocurrency is supposed to be cheaper to transfer as supposed to be instantaneous, I think initially it did that but… I think the current decentralized exchanges are either slow or have relatively difficult to use UI.”
Furthermore, CZ said that with DEX they aim to make the UI simple and easy to use and also improve “latency and the user experience”.
CZ announced the news on Twitter giving out more details about the DEX.

According to CZ, Ethereum’s smart contract based options are too slow to be adopted by the masses and that they want to change this with their new exchange, scheduled for launch in early 2019.
Binance’s official Medium blog stated:
“Have your DEX funds secured through decentralized wallet applications like Trust Wallet, which will store private keys only on your device, so traders can retain full control over their funds and private keys.”
CZ said that BNB will swap from the Ethereum blockchain and move to their main net after the DEX  launches in early 2019.
A user Damilola Akinleye Tweeted out asking if the old binance will remain the same, to which CZ replied:
“Binance.com will continue to run. Just like Google doesn’t shutdown their search engine when they launch Gmail.”
Another user, Shavneet Singh commented:
“So in future bnb won’t be erc20 ?”
CZ replied:
“BNB will swap to our own mainnet.”
A Twitterati, CryptoVast asked:
“Will it support integration with @LedgerHQ and @Trezor ?”
To the above question, CZ replied:
“those are being worked on, but may not be done on day 1 of testnet launch.”
The post Binance coin [BNB] to move from Ethereum blockchain to its own blockchain, says CZ appeared first on AMBCrypto.
Source: AMB Crypto

Binance Rolls Out New Features for Institutional Investors

CoinSpeaker

Binance Rolls Out New Features for Institutional Investors

Crypto exchange Binance is launching a new sub-account feature for institutional traders to let them create multiple accounts under one profile.

Binance Rolls Out New Features for Institutional Investors

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Source: CoinSpeaker

Binance Posts Video Demo of Its Decentralized Exchange Featuring Binance Chain

Binance, the biggest crypto exchange by volume, yesterday released a new video demonstration of its decentralized exchange ahead of its launch in Q1 2019.
The broadcast exhibited the trading interface of Binance DEX – as the platform is called – along with its web crypto wallet feature and Binance Chain, Binance’s native public blockchain explorer which, according to the company, will be available on a testnet soon.
Source: Binance YouTube
The video tour revealed that Binance DEX would resemble the original web trading platform, especially when it comes to interface. However, there were some notable differences such as a feature that would allow users to generate a 24-word mnemonic seed phrase for private keys. Binance DEX also possesses a “balance tab,” a feature that would enable users to access the status of their accounts, and a “user icon” that would show individual wallet addresses.
With Binance Chain, individuals will be able to extract information related to blocks, transactions, wallet addresses, and order IDs, the demonstration explained.
Source: Binance YouTube
Binance Chain will empower the record keeping infrastructure of the DEX. According to the statement made during its introduction in March, the public chain also expects to offer “low latency, high throughput trading, as well as decentralized custody of funds” to mitigate single points of failures.
The block explorer would also list a feature that would list details about all the coins listed on the Binance DEX.
Binance also cleared that their DEX would not hold users’ private keys, which means they will not be able to move users’ funds as centralized exchanges do. Instead, their platform will integrate decentralized wallet applications like Trust Wallet, known for their server-free infrastructure. They would enable users to keep their wallets’ private keys in their devices than with a third-party. It means that only private key holders would have access to the funds.
Related Reading: Zhao: Binance Chain to Be Ready in “Months,” Enabling Projects to Issue Tokens
Price Surges After Announcement
The video demo release met with a positive response from the Binance trading community.
The BNB price against the U.S. Dollar jumped as much as 6.2% since it opened the day at $5.99. On a 24-hour period, according to CoinMarketCap, BNB established circa 15% gains while the rest of the top crypto assets remained red.
Source: CoinMarketCap.com
Nevertheless, as evident with the way the crypto market behaves, BNB is likely to correct lower in the near term, having been outreached its upside targets. The coin’s long-term aspects are fundamentally bullish, especially because Binance Chain would function no less than Ethereum. The chain would allow new blockchain projects to digitize and launch their assets – all backed by the BNB token.
BNB will migrate from ERC20 standard to its Binance Chain upon the mainnet launch.
The BNB/USD pair is trading at $6.34 at the time of this writing.
Featured image from Shutterstock.
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Cryptocurrency Market Update: Binance Coin (BNB) Climbing as EOS Gets Crushed

FOMO Moments
Markets recouping daily losses, Binance Coin and Nem are in the green, EOS is getting hammered.
The downward motion on crypto markets has continued today as digital currencies slid further back before making a recovery. Monday’s declines have carried on into Tuesday during the Asian trading session but total market capitalization has managed to recoup to similar levels below $130 billion a couple of hours ago.
Bitcoin bulls have failed to keep the digital currency above $4,000 causing it to drop into dangerous territory.  A 5% dump saw BTC fall to an intraday low of $3,840 a couple of hours ago before it managed to bounce back. At the time of writing Bitcoin had pulled back to just above $4k again.
Ethereum has fallen back to $112 and does not look like making any discernible recovery anytime soon. Altcoins are all still red at the moment with some getting more punishment than others. In the top ten EOS is getting pounded with a 10% dive to $2.55 as more centralization woes plague the project. As has been the case for a few weeks now Bitcoin Cash is collapsing, it was the worst performing crypto in November and has lost another 6% today.

There is only one winner in the top twenty at the moment and that is Binance Coin climbing 9% on the day. BNB has reached $5.60 as it partners with Decentraland with a MANA competition and crypto Airbnb platform Tripio. Nem and Dogecoin are also gaining a little but the rest are falling, Ethereum Classic and Bitcoin Gold by the most at 6%.
Pump of the day goes to Factom again adding 27%, ODEM and Pundi X are also performing strongly at the moment with double figure gains. As predicted, yesterday’s fomo altcoins are dumping today, namely Centrality, Mithril and MobileGo, all dropping double digits along with EOS.
Total crypto market capitalization has managed to bounce back to yesterday’s levels after hitting a low of $124 billion a couple of hours ago. At the time of writing it is around $129 billion which is no gain over Monday. Since last Tuesday markets have gained 4% but since the same time last month they have been smashed 38%.
FOMO Moments is a section that takes a daily look at the top 20 altcoins during the current trading session and analyses the best performing ones, looking for trends and possible fundamentals.
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