Binance announces 200,000,000 BTT giveaway via trading competition

Since its launch, BitTorrent Token [BTT] has seen considerable adoption amongst major exchanges. The token’s launch on Binance’s launchpad was a huge success and Tron Foundation has been actively promoting the token by carrying out various activities, including airdrops. Binance too has now joined the foundation in promoting the token by designing a BTT trading competition.
The exchange made the announcement on February 21 via Twitter.
Source: Twitter
Binance stated that the competition is being hosted to celebrate the successful launch of the BTT token and the team committed a total of 200,000,000 BTT in prizes. Binance has divided the giveaways into four categories, including Deposit Promotion, Trading Competition, Reward Calculation, and Lucky Draw. The competition will start on February 22 and will go on till March 1.
The exchange has also laid down certain norms like disqualifying trades which are believed “to be wash trades or display attributes of market manipulation”.
However, some Twitter users feel that this is an orchestrated attempt to pump the market. Twitter user @Brad2pointO tweeted on the same thread saying:
“Attempts to pump it so they can dump it at new ATH’s lol.”
Another Twitter user, @bitcorn__ also, joined the bandwagon and said:
“I don’t like this token, but even I think it’s gonna pump now, actually I’ll probably buy some now ffs”.
Some users seemed concerned about the giveaway as they believe that it could negatively impact the coin’s price. @harake_hussein opined:
“I do not like giving away competition, it reduces the value of the coin. How would you convince me to invest in something that you are giving away 200,000,000 for free”.
There were a handful of users like @Kumar62399018, who looked at this competition with a positive outlook and said:
“This is what we were waiting, let’s do it. I converted some of my BTC to BTT. Waiting for tomorrow to start trading.”
The post Binance announces 200,000,000 BTT giveaway via trading competition appeared first on AMBCrypto.
Source: AMB Crypto

A Successful Binance DEX Mainnet Could See Binance Coin (BNB) Prices Double


Binance coin up 17.1 percent in the last week

Testnet launch live, users free to test the DEX and Binance chain explorer

Transactional volumes double from Dec 2018

BNB is back to the top 10, and with increasing volumes and DEX and explorer test net, coin holders are likely to reap big profits. So far, Binance coin is up 17.1 percent and back to the top 10.
Binance Coin (BNB) Price Analysis
Like Ethereum’s ETH, Binance Coin is a utility token in the Binance chain network. It is a tool for incentivizing use and so far, the coin is rallying. Perhaps induced by the overly successful BitTorrent’s BTT ICO, the currency is retesting key resistance levels of 2018.
Adding to the bullish impetus is news that both the Binance Coin and the Bitcoin DEX testnet is now open to the public. The new release will allow testing of the Binance Coin chain explorer as well as the Web Wallet. Binance said this about the new testnet:
“Binance Chain is a new blockchain developed and released by Binance. Binance DEX is a high performance and user-friendly platform built on top of Binance Chain, where users can create, issue and trade digital assets.”
To get started in what Binance describes as a standard for DEXs, all a user needs to do is set up a new wallet, unlock the wallet, transfer assets and place orders right away.
The eventual launch of the mainnet will be very bullish for Binance coin as users of the Binance DEX will have to pay for gas to power transactions. Gas and fees are quoted in BNB only and assuming there is an immediate shift from centralized exchanges to unhackable Binance DEX–with better liquidity and UIs, then BNB holders stand to benefit.
Candlestick Arrangements

Thus far, the coin is up 17.1 percent in the last week. Aside from favorable candlestick arrangement, the sole reason behind this week’s expansion may be because of DEX testnet. As we said, Binance is yet to announce the mainnet launch, but from the chart, the path of least resistance is upwards.
A simple Fibonacci retracement tool between the BNB’s high low show that prices are finding support off the 78.6 percent level and with increasing volumes, bulls are back. Technically and when we draw guidance from Fibonacci retracement rules, the reaction at 78.6 percent level often leads to a retest of recent highs and in that case ideal targets may be 2017 highs of $26. All the same, before BNB explode, modest targets will be at Q2 2018 highs of $18.
Technical Indicators
Week ending Feb 10 bull bar reversed losses of the week ending Nov 25. Accompanying these upswings are increasing average volumes–7 million to 15 million and wide trade ranges which is bullish. Although we expect prices to cool off, ideal reversal zones will be at around last week’s lows of $8.5. However, such deep corrections are unlikely. Sellers may drive prices back to the $10 level before bull trend resume.
The post A Successful Binance DEX Mainnet Could See Binance Coin (BNB) Prices Double appeared first on NewsBTC.
Source: New

Binance CEO announces launch of its first Decentralized Exchange Testnet

In a recent interview with cryptocurrency and blockchain enthusiast, Ivan Liljeqvist, Changpeng Zhao aka CZ, the founder and CEO of Binance, spoke about listing and delisting coins on its platform, the standards to be met and above all, the launch of DEX.
Binance, which is essentially a centralized entity, is all set to step its toes into the DEX space after releasing its first version. Talking about supporting decentralized exchange without even being one, CZ said:
“I think we have listed no less than seven decentralized exchange coins”
CZ also admitted that any one of them could easily disrupt the centralized system run by them. He highlighted the aspects of security, ease of use and freedom rather than setting decentralization, as the goal of his work.
Talking about DEX’s profitability, CZ asserted:
“DEX may not generate a lot of revenue for because the nodes will be decentralized and we don’t own most of them. But it is likely to increase utility and hence the value of the Binance coin and we still have decent number of Binance coin ourselves.”
CZ further said that DEX, which is a unique offering of the centralized exchange, is technically fully decentralized. He said:
“Users hold their own private key and the network never has access to the key.”
He also revealed that the mainnet runners for the DEX have not been decided yet. However for the testnet, all the nodes will be run by them in order to understand its workings.
The all-new DEX will be using Binance Chain to render instant transaction confirmation for a similar trading volume.
Earlier, the exchange had announced that their native Binance coin [BNB] will be moved to the Binance Chain, which was previously trading on the Ethereum blockchain.
Subsequently, other tokens might also move into the chain. Speaking further about the process, CZ stated:
“You can issue token, you can trade them, submit your proposals to get your coin listed on the DEX and the nodes will vote for you.”
Over 8 tokens have confirmed their migration into the Binance Chain from ERC 20.
Binance CEO CZ has previously been criticized by the community for removing coins from the exchange. To this, CZ responded by saying:
“Because we are centralized we will have to take on the responsibility of selecting projects and working with projects to list them. Basically, we want a listing of projects with a large number of users, good products, good communication with the community, consistent improvements and active developments.”
Other reasons for delisting include limited technical resources and security issues, said CZ. He finally concluded by saying that he believes that listing more coins for an exchange ‘is not the best market strategy’.
The post Binance CEO announces launch of its first Decentralized Exchange Testnet appeared first on AMBCrypto.
Source: AMB Crypto

You Can Now Check Out Binance’s New Decentralized Trading Platform as Public Testing Goes Live


You Can Now Check Out Binance’s New Decentralized Trading Platform as Public Testing Goes Live

Binance launched its much expected decentralized exchange (DEX) to increase security and efficiency of its services and the markets love it with the BNB coin appreciating by over 75% within days.

You Can Now Check Out Binance’s New Decentralized Trading Platform as Public Testing Goes Live

Continue reading at Coinspeaker
Source: CoinSpeaker

Binance DEX Testnet Launched, BNB Breaks into a New ATH in BTC Market

“Fast and secure decentralized digital asset exchange. The new cryptocurrency trading standard is here,” states the website of the brand new launched Binance DEX.
The much anticipated Decentralized exchange (DEX) of the world’s largest cryptocurrency exchange Binance has finally launched its testnet for public testing. Binance DEX aims to bring the best of its centralized exchange’s features in a decentralized setting.

As Binance CEO, Changpeng Zhao better known as CZ has pointed out previously, the focus of the DEX would be on security, user-friendliness, and speed. Recently, in an interview, he had shared,
“The user interface on Binance DEX is similar to the interface of Fast, secure and user-friendly. We envision the Binance Chain to help grow the community and further crypto adoption and accessibility.”
Recently, in a blog post, Binance had shared that the common problem that exiting DEXs face is in the form of difficulty in attracting the users which is due to less intuitive user experience, speed, and liquidity issues.
But Binance is all set to tackle this issue of reaching a wider user base head-on as they are in a “unique position” to run a secure exchange platform that processes billions of attractions with speed as it’s all about “replicating” the success of its market-leading centralized exchange into the decentralized realm.
No doubt, Binance is best suited for this challenge. Even despite the demand from the users, existing DEXs haven’t been able to live up to their expectations, however, Binance DEX is hitting just the ‘pain point’ of the users by offering this community initiative with low trading fees, user-friendly, and a safe and secure platform. Apart from near-instant transactions finality with an order matching engine, it allows its users to hold their own keys.
Binance DEX Hit the Right Chords for BNB Price
“BNB, currently an Ethereum ERC20 token, will be migrated to Binance Chain to become the native asset of the new blockchain,” mentions the official BInance DEX website.
In the past 24-hours, BNB has taken a hike of more than 15 percent at $$11.16. In the BTC and ETH market as well, it is up by 14 and 17 percent respectively, according to the data provided by Coinmarketcap.

        BNB Price Chart, Source: Coinmarketcap
Since mid-December, Binance’s native currency BNB has been on an upward movement and now the launch of Binance DEX has given the 10th largest cryptocurrency another boost. As a result, BNB has made a new all-time high (ATH) in the BTC market.
The post Binance DEX Testnet Launched, BNB Breaks into a New ATH in BTC Market appeared first on Coingape.
Source: CoinGape

Binance CEO reveals BitTorrent [BTT] airdrop error; reassures users that ‘funds are SAFU’

The world of cryptocurrencies has seen a massive shift in sentiments after the recent bullish surge that enabled a lot of coins to climb up on the charts. The price hike also resulted in some cryptocurrencies changing ranks within the spectrum, with the main switch being EOS overtaking Litecoin [LTC] to become the fourth largest cryptocurrency.
In the midst of this shakeup, Binance CEO Changpeng Zhao gave an update regarding a test on that resulted in changes in the amount of BTT tokens transacted in the airdrop.
Source: Twitter
The Chief Executive Officer of Binance claimed that the error from the tester’s side has only affected a few buyers, who in turn got a few extra BTT tokens. He also stated explicitly that ‘funds are SAFU’. One Twitter user @DAXPartners commented,
“Haha not like is a problem to get some extra BTT.”
To this comment, CZ replied,
“ It is, some balances will be wrong. It’s being fixed now. Funds are #SAFU”
Another user had no qualms about the error, stating,
“Explains how my low bid got filled.”
Changpeng Zhao pointed out that,
‘Secondary beneficiaries, one reason to use an exchange, I guess!”
Tron’s BTT was also in the news recently when it was announced that the token will be paired with multiple stablecoins on Binance. The latest token from the Tron stables will be paired with stablecoins like Paxos, USD, and USDC. Ever the enthusiastic supporter of developments in the Tron ecosystem, Justin Sun, the CEO and Founder of Tron Foundation thanked CZ’s decision to add the pairs on Binance’s platform and also revealed another announcement. Sun tweeted,
“#BTT will be listed on @MBAexOfficial, you can deposit #BTT at 12:00 on Feb 14, 2019(SGT), withdraw $BTT at 12:00 on Feb 22, 2019(SGT). BTT/BTC, BTT/USDT, BTC/MDP will be available at 12:00 on Feb 15, 2019(SGT). #BitTorrent $BTT #TRON #TRX.”
Binance’s attempts to push cryptocurrencies into the mainstream realm and create an inclusive and safe environment was also evidenced when the exchange delisted CLOAK, MOD, SALT, SUB and WINGS. The company reasoned that the move was done over issues with commitment of the team, evidence of unethical/fraudulent conduct and level and quality of development activity.
The post Binance CEO reveals BitTorrent [BTT] airdrop error; reassures users that ‘funds are SAFU’ appeared first on AMBCrypto.
Source: AMB Crypto

Ripple (XRP) Bears?…Prices up 11.1% But Yet to Close Above Key Liquidation Level


Ripple prices up 11.1 percent but technically bearish

Crypto–Fiat bridges important for XRP and crypto

Transaction levels up, volumes lower than Jan 10

Despite upbeat prices, Ripple (XRP) is technically bearish and yet to breach the 35 cents mark. From our previous XRP/USD iterations, once bulls find momentum and pump prices above 35 cents risk-off traders can begin making projections with first targets at 60 cents.
Ripple Price Analysis
Crypto may be risky for some governments, but things are beginning to change. As some view them as property, charging capital tax gains on profits, others are warming up to the idea of blockchain as the next inevitable change that despite headwinds will eventually permeate to the mainstream. Malta is one of the many jurisdictions, and now Binance–the world’s largest exchange by adjusted volumes have bases in that country.
Besides being a go-to platform for investors, it is also one of the few exchanges where users can purchase crypto with their Visa credit or debit cards. While many will be attracted to this feature, some Redditors claim that fees depends on volumes and some credit card companies may treat credit card purchases as cash advances which attract additional fees:
“What about any credit card fees? I’ve heard rumors that credit card companies charge it as a cash advance, resulting in additional fees. This drastically changes my position on using credit cards to buy. Unless you can use a Visa pre-paid, the additional fees could be a dealbreaker.”
All the same, thing is, this is an excellent deal for XRP and other crypto users who may not have time to make wire transfer more so when there is an opportunity to capitalize price moving news.
Candlestick Arrangements

At the time of writing, XRP is up 11.1 percent and 3.2 percent in the last 24 hours. No specific XRP or Ripple related news is pumping prices. So, we reckon that XRP prices are up partly because of resurgent Bitcoin prices and new streams of supportive fundamentals.
Although prices are up, our trade conditions are not yet valid, and prices are trading below 35 cents–the 50 percent Fibonacci retracement level of Dec 2018 high low.
Unless otherwise there are price upswings that trigger risk-off positions, we recommend patience despite Feb 18 rally confirming the double bull reversal pattern of Feb 8. It’s only after when XRP bulls drive price above Jan 14 highs that risk-off traders can buy on dips with first targets at 40 cents and later 60 cents–Dec 2018 highs.
Technical Indicators
Volume is on the rise, and Feb 18 bar had high volumes–52 million, above those of Jan 30–49 million and even those of Feb 8–35 million. Technically, this is bullish, and in an effort versus result analysis, buyers may have the upper hand. However, it would be perfect if Feb 18 bar had high volumes above Jan 10–83 million.
The post Ripple (XRP) Bears?…Prices up 11.1% But Yet to Close Above Key Liquidation Level appeared first on NewsBTC.
Source: New

Ripple’s XRP Can Now be Spent in More than 40M Locations Across 180 Countries


Ripple’s XRP Can Now be Spent in More than 40M Locations Across 180 Countries

XRP enthusiasts can now store the digital asset as well as spend it using Spend Visa Debit Card in 180 countries.

Ripple’s XRP Can Now be Spent in More than 40M Locations Across 180 Countries

Continue reading at Coinspeaker
Source: CoinSpeaker

The “Secret” of Binance’s Success and What makes BNB a “Hot” Investment even at ATH: Crypto Analysts share

Launched in July 2017, Binance is the biggest cryptocurrency exchange today. According to the Coinmarketcap, in the past 24-hours it has been managing the daily trading volume of $554 million. Though the trading volume has dropped in response to the ongoing crypto winter, Binance is still maintaining its first place. But how?

It is definitely “Buidl” as Binance CEO, Changpeng Zhao has emphasized on every occasion and this time was no different, “Not humbly, luck, and a LOT of hard work, by the whole team (CEO still working 1:30 AM on a Sun morning, and the team is online), Binance Angels (pure volunteers, not paid), and supporters like the commenters in your tweet…”
However, the crypto community further elaborated on the factors that make Binance so likable among the crypto space.
One Binance enthusiast said in part, “to answer your question on a personal level, Binance released a version of their app that affected color blind people like me. I tweeted to them, they listened and released another version 48 hours later,” which is impressive, to say the least.
Binance CEO himself plays an important role in this as he is the main force behind this exchange along with the team that as he says together focuses on customer services, funds safety or SAFU, and a long list that crypto trader Alex Kruger further shares.

What makes BNB a “Hot” Investment even at AT
It’s not only Binance that is defying the bears of the market as we reported recently rather the native currency of the exchange is making equally impact and gains. Recently, the 10th largest cryptocurrency, BNB reached its all-time high (ATH) against BTC a few days back at $0.0026.

BNB price chart, Source: Coinmarketcap
Since mid-December, Binance Coin (BNB) has been on a rise reaching from $4.52 to $9.58 but is still over 60 percent down from its all-time high in the USD market. But it could be expected that BNB would reach another peak before any other cryptocurrency in the market in the light of various developments going on as pointed out by crypto trader Moon Overlord.

I can’t really recommend buying at an ATH but $BNB might be a rare exception.
– Binance launchpad ICOs are only contribuable in $BNB
– $BNB launching it’s own chain soon (moving off $ETH / ERC20)
– Binance DEX launching soon
– Binance DEX listing fee, yep you guessed it – $BNB
— Moon Overlord (@MoonOverlord) February 16, 2019

Binance Launchpad has already taken a flight with the sale of BitTorrent (BTT) while Binance DEX is scheduled for public testing on February 20th as we reported with $20,000 as a listing fee that would be in BNB.
The post The “Secret” of Binance’s Success and What makes BNB a “Hot” Investment even at ATH: Crypto Analysts share appeared first on Coingape.
Source: CoinGape

Binance CEO Changpeng Zhao: Crypto’s killer app has arrived

Binance [BNB] token has been observing a good run since its launch as it climbed up the CoinMarketCap list and entered the top 10. Binance’s CEO, Changpeng Zhao has repeatedly expressed himself on the success of the coin and the future of Binance and cryptocurrency world. Changpeng Zhao also known as CZ, in a YouTube’s Venture Coinist interview, said that the crypto’s killer app is already here.
CZ noted the success of Tron’s BitTorrent Token [BTT] launch as a sign that ICOs will return and remain a powerful new way for companies to raise money. CZ said:
“ICOs got a little bit of a bad name because it’s total freedom. So there’s quite a lot of chaos. It was too hot. You could write a five-page white paper and raise $10 million. And of course, the founders want to do nothing other than write the next white paper. So it was getting too hot and with the bear market in 2018. A lot of people lost money and it gave a bad name to ICOs.”
He also said that if we look past this, raising money on the blockchain, blockchain fundraising, is a killer app which has many advantages and impactions to entrepreneurs, reported Daily Hodl. For this to happen, CZ informs that there is a need for best entrepreneurs and legit projects while making sure that the token economics makes sense. CZ added:
“So we need to make sure they don’t raise too much, keep the initial prices lower because the project is not out yet. So there’s a strong structure to raising properly, and that’s what we want Launchpad to do.”
As per the CEO, entrepreneurs are going to build the crypto industry and this could be instrumental for the cryptocurrency industry at large. CZ affirms that it will not only be the crypto industry who will be using this application but also other platforms. CZ concluded saying:
“The projects we support go through very detailed due diligence, and we want to make sure those are all legit, proper projects. Not every project will be successful in the end because there are many other factors that can cause startups to fail.”
The post Binance CEO Changpeng Zhao: Crypto’s killer app has arrived appeared first on AMBCrypto.
Source: AMB Crypto

Ripple: After Binance, eToro CEO Shares His Interest in Partnering up With Ripple

In a video that surfaced online, eToro CEO, Yoni Assia, talks about a potential partnership with Ripple. eToro, the leading social trading and investing platform that allows one to invest and trade in cryptocurrencies, stocks, currencies, ETFs, and commodities has added the third largest cryptocurrency on its platform back in December 2018.
In the interview that took place at the Paris Fintech Forum in January, this year, Assia talks about blockchain and that it is going to “disrupt the financial services and especially asset management services.”
He says currently it is difficult to move assets and shares all over the globe, but with the tokenization of assets, the entire wealth management would be transformed as it would allow the assets to move from one company to another and then sell them seamlessly and in real time. As for Ripple partnership he stated,
“We are one of the largest trading platforms for XRP so very interested in forming a relationship with Ripple Labs and understanding what can we do together.”
You can watch the entire video here:

Earlier As Coingape reported, Binance CEO also hints at a partnership with Ripple to leverage XRP-Powered xRapid. Zhao says,
“We’re focused on launching more features right now, so we are working with a number of other partners. With xRapid, there’s nothing going on right now, but in the future, we’ll definitely want to add them as a partner.”
The third-largest cryptocurrency with a market cap of $12.4 billion is trading at $0.302 with 24-hours gains of 0.53 percent. While in the BTC market, it is in the red by 0.10 percent, as per the data provided by Coinmarketcap.
In the past five days, there hasn’t been much change in the XRP price as it oscillated in a tight range of $0.2947 and $0.3086.
The post Ripple: After Binance, eToro CEO Shares His Interest in Partnering up With Ripple appeared first on Coingape.
Source: CoinGape

Binance Delisting: Why were SALT lending, Substratum and others delisted from Binance?

Binance, one of the world’s top cryptocurrency exchanges announced on Friday that they will be delisting five altcoins, CLOAK, MOD, SALT, SUB and WINGS.
Binance’s reasons for such delisting were articulated in their blog and included, commitment of the team to project, level and quality of development activity, evidence of unethical/fraudulent conduct, among other reasons.
This isn’t a surprising development however as some of the delisted tokens do have a very dodgy history. Below is a small collection of facts that could have contributed to Binance’s decision to delist the select tokens.
The SALT token has quite a history since it once came under the SEC’s radar in February 2018 when it was subpoenaed for allegedly distributing securities tokens to insiders and seeking information on the $50 million it raised during its ICO.
Moreover, as per the data obtained from CoinMarketCap, it can be seen that the price of SALT fell from approximately $18 to a low of $1 and the company were forced to remove the option of paying principal to the loans using SALT tokens. This was a major concern since SALT tokens were fixed at a constant retail price, marked much higher than the market value of the tokens.
The price of SALT has suffered a huge blow due to the delisting announcement by Binance.  The token which was trading at $0.21 has collapsed massively in a single hourly candle to the bottom and was trading as low at a low of $0.17, which is a decrease of 19%.
Considering that Binance is the major contributor to trading volume for SALT [~70% via trade pairs SALT/USDT, SALT/BTC], the actual delisting might cause another huge blow to the trading volume as well as the price.
Substratum has also received a lot of negative publicity ever since the ICO ended. Brian Li had reported that there were discrepancies in the ICO funds collected, soon after it ended. His report also suggested that tokens including 2.5 BTC, 702 BCH, 1142 ETH, and 35 LTC were missing from the ICO funds. This report was made worse after he mentioned that the CEO of Substratum was able to afford a ‘$400,000 home and a bunch of new toys in the first week of October 2017″.
Moreover, the fact that Substratum’s Founder,  Justin Tabb, admitted to using the funds raised through ICO in his trades, for a company that is trying to decentralize the internet raises a huge red flag.
The price for SUB followed the same course as SALT, as it fell from $0.044 to $0.026, which is a decrease of 40.9% within a span of a couple of hours of the announcement.
The post Binance Delisting: Why were SALT lending, Substratum and others delisted from Binance? appeared first on AMBCrypto.
Source: AMB Crypto

Ontology [ONT] Runs on Massive Heel With Binance Listing Ontology Gas [ONG]

Ontology (ONT) which currently stands on the 27th position has plunged 7.46 percent today. It’s worth mentioning that the value of ONT jumped from 0.56 to 0.64 within a couple of hours.
Ontology (ONT) Surged Following ONG token Listing on Binance
ONT’s price growth is a kick start to the weekend. Although there would be no real reason on why prices of few cryptocurrencies suddenly upsurge but this plunging price of ONT is something has to do with the recent discussion relating to Binance. As for now, ONT as against the US dollar is up and consequently, you can buy one ONT token for $0.64 or 0.00017756 BTC.
Image source –
ONG Crypto Token Operates on Ontology Platform
To note, Binance on Feb 15, 2019, has announced to list ONG token – which is backed by the hard-working project in view of CEO of Binance, CZ. Following the tweet, listing ONG token on Binance’s exchange appeared today, on Feb 16, 2019, with trading pairs as ONG/BNB, ONG/BTC, and ONG/USDT. Accordingly, the deposit for ONG token is open at the world’s #1 cryptocurrency exchange.

#Binance Will List Ontology Gas (ONG)
— Binance (@binance) February 15, 2019

It is important to note that the ONG (ONG) is a cryptocurrency token that operates on the Ontology platform. With the recent binance listing of ONG token has quickly appreciated the value of ONT cryptocurrency as well.

don't thank me. Thank the hard working project team.
— CZ Binance (@cz_binance) February 15, 2019

Further to mention, ONT’s trading volume is highly influenced by Bit-Z exchange, Binance, Upbit, DigiFinex Huobi,, OKEx, Coinall exchange and more. On top of all, the one obvious reason is Binance’s trading volume for ONT is quite pushing it up compared to the other exchanges where ONT is already listed.
Image Source –
Stay tuned with coingape as the weekend’s price is not something that will decide the next market move for any specific token. Anything that’s remarkable during the weekend would hardly continue the next week to come.
What’s your stake on ONT price surge and ONG listing by Binance exchange? Share your opinion with us.
The post Ontology [ONT] Runs on Massive Heel With Binance Listing Ontology Gas [ONG] appeared first on Coingape.
Source: CoinGape

Binance still Running a Profitable Business Despite Bear Market, Crypto Exchange CFO

The largest cryptocurrency exchange by trading volume, Binance is running a profitable business “even in this bear market,” stated CFO Wei Zhou.
Profitable Even in This bear Market
Crypto market has lost over $700 billion since its peak as the majority of the cryptocurrencies are down 80 to 90 percent from their all-time highs. However, despite the prolonged bear market, the largest cryptocurrency exchange of the world by trading volume, Binance is still profitable, according to its chief financial officer.
In an interview with CNBC, Binance CFO Wei Zhou stated,
“To date, even in this bear market, we still run a profitable business.”
In July last year, Binance CEO, Changpeng Zhao told Bloomberg that the exchange was targeting a net profit of between the rage of $500 million and $1 billion in 2018.
The company doesn’t disclose its financials publicly, told Wei Zhou. However, recently, on the basis of amount spend by Binance on buying back its own BNB tokens using 20 percent of its net profits, The Block estimated the profits to be around $446 million last year.
Established in July 2017, Binance raised $15 million in its initial coin offering (ICO). It has been just about one year and a half since the exchange came into existence. But in this short amount of period, it has become the largest cryptocurrency exchange with the daily trading volume of $476 million, as per the data provided by Coinmarketcap.
Always on the Lookout for High-Quality Products
Though in 2019 the trading volume has dropped down significantly since late 2017’s rally, it is still managing its first position in the crypto space.
Wei Zhao further shared that Binance has “no plans” in the short term to seek a stock market listing. The firm had hired Zhou in September 2018, to handle its finances who previously had been serving in CFO roles at Chinese jobs site and TV ad company.
Binance is currently working on its expansion as it is soon going to launch its Binance Chain, a decentralized exchange for public testing and recently launched for its European clients. Just last year, the company had bought crypto wallet maker Trust Wallet for an undisclosed amount and invested $2.5 million in TravelBit an Australian start-up that lets users book flights with cryptocurrency.
“We’re always on the lookout for high-quality products,” he said on the subject of potential mergers and acquisitions.
The post Binance still Running a Profitable Business Despite Bear Market, Crypto Exchange CFO appeared first on Coingape.
Source: CoinGape

Binance Coin [BNB] pumps by over 6% as most other top-10 tokens face slump

The cryptocurrency bear market is stronger this time as most of the major coins are undergoing major changes almost every day. However, Binance Coin has taken advantage of the bear’s lose grip and has jumped by over 6%.
Source: Trading view
At the press time, BNB, was valued at $9.47, with a market cap of $1.3 billion. The coin registered a 24-hour trading volume of $85 million while registering 6.80% growth over the past day. The coin, however, has fallen by 0.25% after surging due to market correction. The coin has registered a growth of 16.58% over the past seven days.
Binance Coin [BNB] registered a volume of $29 million with the BNB/USDT pair on Binance. The second position in terms of trade was on the BNB/BTC pair, with a trade volume of $21 million. The third place was taken by P2PB2B, with a volume of $6 million on the BNB/BTC pair.
Looking at the growth in the coin’s price, Binance’s CEO Changpeng Zhao, or popularly known as CZ, tweeted:
“…18 months ago, 3 weeks after launch, $BNB at ATH, price is 1/50th of what it is now, 4 coins traded on @Binance. The tweet has 2 comments (as of this writing). Keep #buidling!”
Binance Coin was recently added on another medium, SpendApp, which will enable BNB holders to buy/sell the token with their account. shared this news on Twitter by stating:
“#Binance Coin is now available on the #SpendApp. Buy/Sell $BNB with your bank account. Exchange $BNB with all supported assets. Spend $BNB at 40+ million locations with the Spend Wallet by instantly converting to fiat with the #Spend Visa® Card!@cz_binance @binance @Teddy_Lin”
Binance exchange is the largest exchange in terms of trading volume and recently, the CFO of the company, Wei Zhou, claimed that business is still profitable instead of the bear ravaging the market.
The post Binance Coin [BNB] pumps by over 6% as most other top-10 tokens face slump appeared first on AMBCrypto.
Source: AMB Crypto