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

Crypto Crash Reality Check a Good Thing For The Industry

The long drawn out bear market of 2018 has been very painful for a lot of crypto traders. However, it may be just the reality check the industry needs in building more stability for future growth.
What Goes Up Must Come Down
When charts go parabolic it is never a good sign for any asset, digital ones included. The unnatural spikes seen on Bitcoin and across most altcoins during the last two months of 2017 should have been a warning sign of what lies ahead. The hype and fervor were palpable with moons and lambos becoming a reality for a lucky few.
The seemingly unsustainable growth had to come to an end at some stage and January 7, 2018, marked that day in crypto land. After reaching a peak market capitalization of $830 billion things started to turn south in a trend that would last the entire year and beyond. In a crash of over 87% crypto markets plunged to just over $100 billion, a low hit on Saturday.
Many have lost out big time after pumping funds into cryptocurrencies only to see them evaporate over the course of the year. The FOMO train was a hard one to disembark and hodling seemed to be the only option unless prepared to sell at a loss. Channel News Asia spoke to a few traders who were mostly in regret at the moment.
“Crypto is already so cheap. It doesn’t make sense to sell something so cheap and buy something else,” one said. “Of course I look back, I regret it, but there is no way for me to undo that,” added another.
The big purge will be painful for many but it may not be that bad a thing for the ecosystem as a whole. US regulators have been the catalyst behind a lot of the selling pressure as have a number of high profile exchange hacks and ICO scams.
Regulation, however, is needed in moderation to weed out the bad actors and bring a little stability to the industry. Parabolic charts and pump and dump schemes are not conducive to a healthy trading and investing environment. Lower volatility is also far better for the general adoption of cryptocurrencies in daily life.
The focus should no longer be on price but on what the technology can achieve, as suggested by David Lee, a professor at the Singapore University of Social Sciences;
“Prices coming down is a very good thing for the industry. We should not focus on the price. It’s always a cycle … People need to refocus on how much can this technology do, and the answer is a lot,”
Industry leaders such as Binance CEO CZ shares this opinion and has adopted a ‘buidl’ attitude with a focus on developing the technology so that it can serve its real purpose.
Image from Shutterstock
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Source: New feedNewsBTC.com

Crypto Week In Review: SEC Delays Bitcoin ETF Ruling, Coinbase Lists Four Altcoins

In a bear market-induced sense of panic, the crypto market at large has stopped responding to industry developments altogether, with the news of the past week coming in one ear, and out the other. Regardless, startups still seem hell-bent on bolstering this industry’s infrastructure. And, frankly, this unrelenting drive for innovation doesn’t come unwarranted.
As once stated by Spencer Bogart of Blockchain Capital, the news of today will become “important building blocks” and the “kindling” for the next cryptocurrency bonfire.
SEC Delays Bitcoin ETF Ruling To February 2019
Since Bitcoin’s earliest blocks, true innovators have discovered value in the crevices of the cryptocurrency world, finding it logical to latch onto this nascent industry in times of despair and euphoria alike. While this zealous faith in this decade-old innovation has taken many forms over the years, in the recent downturn, investors have sought a newfound light at the end of the tunnel — a U.S.-based, fully-regulated Bitcoin (BTC) exchange-traded fund (ETF).
However, even after Bitcoin ETF hopefuls consulted with the U.S. Securities and Exchange Commission’s (SEC) Economic Risk Analysis branch, the American regulator recently had to delay its ruling on the prospective product. In an SEC-stamped document published Thursday afternoon, the governmental agency claimed that it would be exercising its right to delay a verdict on the application until February 27, 2019.
Although this regulatory judgment was deemed bearish by naive traders, many analysts and industry commentators claimed that the delay was expected, citing the concerns that the underlying crypto market isn’t ready for the advent of such an instrument.
Morgan Creek Digital Bets $1 Million That Crypto Will Outperform The S&P 500 
On Thursday, Morgan Creek Digital, the crypto-centric subsidiary of the similarly-named Morgan Creek Asset Management, announced that it was calling upon a to-be-determined investor to take on a hefty bet.
The wager, which Morgan Creek has dubbed the “Buffet Bet 2.0,” sees the cryptocurrency investment manager laud its in-house crypto index fund, claiming that it will out-perform the Standard and Poor’s 500 equity market index over a 10-year period. In other words, if Morgan Creek’s fund outperforms American markets, it expects a $1 million cheque to fly its way. On the other hand, if traditional stocks manage to outperform the crypto market, Morgan Creek is mandated to fork out $1 million to its opponent. The “Buffet Bet 2.0,” for those who are unaware, is an evident reference to Warren Buffet’s infamous ante, in which the multi-billionaire claimed that an expansive group of hedge funds would outrun the S&P.
Speaking with CNBC on the relevance of this wager, which is more serious than it may seem, Anthony “Pomp” Pompliano, co-founder of the crypto group, noted:
“This [bet] is a combination of our outlook not only for the upside of cryptocurrencies but also the outlook on public equities.”
This short, yet foreboding statement, which paints a dismal picture for the future of equities, underscores Morgan Creek’s imperishable allegiance to cryptocurrencies. Mark Yusko, the founder of the overarching Morgan Creek brand, recently took to CNBC Fast Money to claim that he “loves Bitcoin for the long-term,” adding that the monumental growth in exchange volumes only spotlights the overlooked fact that this industry continues to flourish.
Coinbase Adds Four Altcoins, Looks Into Adding 27 More
On Friday morning, to the chagrin of the so-called “Bitcoin maximalist” investor subset, San Francisco-based Coinbase announced that it would be “exploring” offering support for a list of 31 well-known and bonafide altcoin projects.
Explaining the reasoning behind this sudden move, which caught many investors off-guard and caused a great deal of community backlash, referenced its goal to “rapidly list” regulatory compliant digital assets surprisingly issued in September. The assets Coinbase intends to add include a number of community favorites, namely XRP, Augur (REP), Cardano (ADA), Tezos (XTZ) and Maker (MKR). The full list can be found through Coinbase’s public statement on the matter.
Just hours after the announcement, which came straight out of left field, Coinbase Pro, the startup’s exchange for professional traders, took to Twitter to announce that it would be adding Civic (CVC), district0x (DNT), Loom (LOOM), and Decentraland (MANA), four altcoins that were part of Coinbase’s list.
As it stands, fully-fledged trading hasn’t been activated for the four ERC-20 tokens, but Coinbase Pro expects to launch complete support for the assets within a few day’s time.

Inbound transfers for CVC, DNT, LOOM, and MANA are now available. Order books will be in transfer-only mode for a minimum of 48 hours. During this period, traders can move their funds into Coinbase Pro but cannot yet place or fill orders. https://t.co/7HV3b41hME
— Coinbase Pro (@CoinbasePro) December 7, 2018

As reported by NewsBTC following Coinbase’s decision to add the four altcoins, an unprecedented happenstance, the community erupted into a logical outrage, with a number of analysts lambasting the exchange for its penchant to assist “s*itcoins.” Airswap employee Rob Paone, better known by the handle “Crypto Bobby” to the cryptocurrency community, noted that Coinbase, who was previously hesitant to list a good majority of altcoins, went “YOLO in like six months,” evidently touching on the company’s unexpected shift in business practices.
Binance Sneak Peaks DEX Yet Again
For the umpteenth time in a matter of months, Binance, the world’s foremost crypto asset exchange, sneak peaked its most promising venture yet, the so-called “Binance Chain” and the decentralized exchange (DEX) that is based upon it.
Through the medium of a short video, an unnamed member of the Binance team outlined the latest edition of the Binance DEX demo, which sports a graphical user interface (GUI) that is reminiscent of the startup’s world-renowned centralized exchange.

The video outlined a number of pertinent features seen on any exchange, including issuing trade orders, which were surprisingly quick, account and wallet creation for the Binance Chain, and the in-house block explorer.
Crypto Tidbits

Grayscale Accumulates 1% Of All Circulating Bitcoin (BTC): Since Bitcoin’s earliest years, the Digital Currency Group (DCG), a consortium of world-renowned crypto startups, has been an industry juggernaut. And with a recent report from Diar, a leading crypto-centric research unit, it seems DCG has maintained this hegemony. Per publicly-available data, Grayscale Investments, the investment management arm of DCG, now owns 20,300 BTC for its in-house Bitcoin Investment Trust (GBTC). This jaw-dropping number of BTC amounts to more than 1% of the circulating supply of Bitcoin, and is valued at approximately $850 million. Seeing that much of Grayscale’s clientele are high-net-worth individuals and institutions, it would be fair to assume that copious amounts of “smart money” continue to flow into this space en-masse.
Ethereum Whales Continue To Buy Up ETH En-Masse: Just as Grayscale has continued to accumulate BTC for its clients, the whales of the Ethereum sea have continued to purchase their asset of choice — ETH. Per data compiled by Diar, the amount of ETH that Ethereum’s top 500 wallets have held has risen by 80%. To put this growth figure into perspective, on January 1st, whales kept 11 million Ether under lock and key, as of November 30th, the same group of users holds 20 million. This jaw-dropping sum amounts to nearly 20% of all Ether currently circulating, and $2.2 billion in U.S. dollar values, clearly indicating that whales are heavily betting on a market reversal.
Ethereum Classic (ETC) Development Team Folds: To say that 2018’s bear market has been rough would, frankly, be putting it lightly. The value of BTC has collapsed by 83%, while altcoins followed suit, posting losses that would make traders cringe and shudder. And sadly, with the market tumult affecting all industry participants, startups and organizations within this nascent ecosystem have suffered as well. The past week saw ETCDEV, a key development consortium rooting for Ethereum Classic (ETC), fold, announcing its closure due to funding constraints stemming from the falling market and in-company conflict. The announcement of ETCDEV’s fate comes just days after Steemit, ConsenSys, and Spankchain purged a number of their employees.
Nasdaq Enthusiastically Confirms Bitcoin Futures Plans: As reported in NewsBTC’s last Week In Review, rumors suggested that Nasdaq, one of the world’s foremost financial markets, was in the midst of development on a Bitcoin (BTC) futures vehicle. While the financial instrument was briefly mentioned by Gabor Gurbacs, digital asset strategist at VanEck, this week, Nasdaq’s head of media relations spoke with a leading U.K. tabloid in the matter. In a statement conveyed to Express U.K., the Nasdaq spokesman, Joseph Christinat, enthusiastically verified the rumors, claiming that his firm’s Bitcoin foray is slated for a launch in Q1/Q2 2019, before adding the vehicle is awaiting approval from the U.S. Commodities Futures Trading Commission (CFTC). Although skeptics are adamant that the CFTC won’t give its blessing to the proposed vehicle, as made apparent with the introduction of CME’s and CBOE’s Bitcoin futures, this shouldn’t be a valid qualm. Christinat, accentuating Nasdaq’s enamorment with crypto assets, noted that Nasdaq first entered into the blockchain realm in 2013, which was when the now decade-old innovation “first popped up” and “leaned out of the window.” In closing, the company spokesperson explained that as Nasdaq has “put a hell of a lot of money and energy” into the vehicle, it would be remiss to cast aside its efforts due to the bear market.

The post Crypto Week In Review: SEC Delays Bitcoin ETF Ruling, Coinbase Lists Four Altcoins appeared first on NewsBTC.
Source: New feedNewsBTC.com

OKEx surpasses Binance as the World’s top Crypto Exchange by Trade Volume

World’s second largest cryptocurrency exchange, OKEx bagged the first position according to Coinmarketcap today. On November 09, 2018, OKEx cryptocurrency exchange with a market cap, $609,908,960 has surpassed Binance which currently stands with market cap $562,039,878.
Ever since the emergence of Bitcoin and other altcoins, Coinbase in the US, Huobi in Singapore and OKEx in Hong Kong have all appeared as the major market players. Looking closer to the graph of coinmarketcap, while OKEX surpassed Binance, DigiFinex which was on the fourth position has grabbed the third position by overtaking Huobi. However, the list of top ten cryptocurrency exchange is followed by OKEX, Binance, DigiFinex, Huobi, ZB.Com, LBank, Coinbace, HitBTC, IDAX, and Bitfinex.

Among the major three crypto exchanges, OKEx shows the negative volume of 26.01% during 24 hrs and Binance loses 36.80% while DigiFinex lost 26.08%.
Latest Updates and New Product Launch by OKEx
So far, OKEx has been in bulletins with newest launch and upgrades. As reported by Coingape, it has recently announced the launch of a new derivative product called “perpetual Swap”. This Malta-based cryptocurrency exchange widens its market audience by offering services that are beyond its current sports trading.
Besides this, OKEx also opened up the support for Vietnamese dong (VND) to its fiat-to-crypto platform. However, the key aim is to enable Vietnamese customers to access tokens in exchange of their fiat currency. It does through its Customer-to-Customer (C2C) platform, launched in the year 2017.
Moreover, the exchange has also expanded its business in the United States. It is reported that the platform has already acquired money transmittal licenses 9(MTLs) from 20 states throughout the US which exclude NewYork and Washington, D.C.
Across the various countries, Malta has long been considered as the crypto friendly nation. With the OKEx’s recent uplift in total market cap is likely to enhance the blockchain businesses based in Malta and may open new opportunities for OKEx within the nation and the other parts of the world.
What’s your view on crypto market fluctuations? Will OKEx remains on top or Binance comes in a battle again? Lets discuss.
The post OKEx surpasses Binance as the World’s top Crypto Exchange by Trade Volume appeared first on Coingape.
Source: CoinGape

Coinbase gives BUIDL back to the community

Coinbase, one of the biggest exchange platforms around the world, became the talk of the town ever since it was revealed that the company was planning to trademark one of the most popular terms, BUIDL. The response that the company received turned out to be rather unpleasant, with even well-known influencers calling out the exchange platform on this move.
This included Changpeng Zhao, the Founder, and CEO of Binance, popularly known as CZ. The Founder was using the term on several occasions along with other ones such as HODL, and SAFU. When the news regarding the trademark broke out, a Twitterati, Rallyqt claimed that CZ has been using the term and she has not come across a single tweet from Coinbase which included the term.
To which, CZ said:
“lol, that’s hilarious. We focus on real building, not filing. I think I saw HODL somewhere first. I may or may not be the first one to use the BUIDL term. Can’t remember, and not that important. … But if they fk around with #SAFU, I will be pissed!”
This was followed by CZ stating that pissed means “lawyers ready to go”, adding that trademarking terms such as BUIDL, which is widely used in the community hurts the company reputation instead of building it.
Nonetheless, Balaji S. Srinivasan, the CTO of Coinbase, has also stepped in with the intention of clarifying Coinbase’s move. He said on Twitter:
“Saw the commotion on Twitter & dug into this. Coinbase filed the trademark for BUIDL some time back. I learned about it today & chatted with team. TLDR is that @brian_armstrong & I don’t believe in trademarks for stuff like this so we’ll be giving this one back to the community.”
Srinivasan further stated that the company had “no intention” of preventing the cryptocurrency community from using the terms. He also revealed that they had thought of a feature called Coinbase BUIDL and the reason they had made the filing was to avoid “patent trolls” for a common term.
Additionally, Srinivasan stated that BUIDL was first used in one of his talk that go back to April 2015, before he joined Coinbase.
He went on to say:
“But it’s entered the common crypto lexicon at this point and we wouldn’t have it any other way.”
To which, CZ said:
“Great stuff! Respect for using it all the way back in 2015, and for being community driven. Coffee/drinks on me when we meet again. Where was the first use of HODL? Anyone know? “.
The post Coinbase gives BUIDL back to the community 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

Coinbase Seeks to Own ‘BUIDL’ Trademark, ‘HODL’ is Vacant so Far

CoinSpeaker

Coinbase Seeks to Own ‘BUIDL’ Trademark, ‘HODL’ is Vacant so Far

Coinbase has applied to own the ‘BUIDL’ trademark. They aim at encouraging investors to build products as opposed to just holding digital assets in times of high volatility.

Coinbase Seeks to Own ‘BUIDL’ Trademark, ‘HODL’ is Vacant so Far

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Source: CoinSpeaker

Stablecoin Mania Continues as Binance Adds Multiple Trading Pairs with TUSD

Stablecoins have been the buzzword throughout the second half of 2018 and now with volatility coming back to crypto markets, their use across exchanges has just shot up. To capture this demand and provide more stablecoin options to its user, Binance has announced that it would be adding multiple trading pairs with TUSD starting December 7, 2018
Binance adds third stablecoin pair in less than a month
The demand for stablecoin is just increasing and Binance is doing every bit to provide the best options available to its customers.  In over a past month, the leading crypto exchange has added multiple stablecoins and its equivalents pairs to fulfill the growing demand from its customers. In yet another attempt to meet this demand, Binance has announced that it will be adding trading pairs with TUSD as a quote asset into the USDⓈ Trading Market/Tab starting December 7, 2018, 10:00 AM (UTC).  The pairs that will be available for trading TUSD include BNB/TUSD, BTC/TUSD, ETH/TUSD, XRP/TUSD, EOS/TUSD, and XLM/TUSD.
The announcement further states that the existing TUSD/BNB, TUSD/BTC, TUSD/ETH trading pairs will be removed and delisted at 2018/12/08 10:00 AM (UTC). All existing orders in each order book will also be canceled at this time.
This is the third stable coin pairs that Binance is adding to its offering in less than a months’ time.
Binance has added PAX pairs around 10 days back while had USDC pairs in Mid-November to meet the growing demand hand help its customers counter volatility. The PAX pairs available on Binance include BNB/PAX, BTC/PAX, ETH/PAX, XRP/PAX, EOS/PAX, and XLM/PAX while the USDC pairs that are available on the exchange are USDC/BNB and USDC/BTC
With these new additions, Binance is also reducing the reliance on controversial stablecoin Tether which has been pretty opaque. To allow its users to switch easily from Tether to other stablecoins Binance, a couple of months back had listed PAX/USDT
Binance had recently renamed its USDT Market (USDT) to Stablecoin Market (USDⓈ). This step was taken is to support more trading pairs with different stablecoins offered as a base pair and the exchange seems to be well on track to achieve its stablecoin vision.
Unlike Tether, TrueUSD is a pretty transparent stablecoin. It is part of the TrustToken asset tokenization platform where U.S Dollars are held in the bank accounts of multiple trust companies that have signed escrow agreements, rather than in a bank account controlled by a single company. The contents of the said escrow account are verified by an independent third-party accountant that publishes monthly attestation reports.
With multiple stablecoin listings, Binance has not just met the growing demand of stablecoins from its customers but also has reduced the dependence on Tether. With these new stablecoin listings now Binance users have a variety of options to protect their capital from extreme volatilities of crypto markets.
Is Binance correct in its strategy of adding multiple stablecoins? Do let us know your views on the same.
The post Stablecoin Mania Continues as Binance Adds Multiple Trading Pairs with TUSD appeared first on Coingape.
Source: CoinGape

Chainbreakers – a New Strategy Game Powered by Smart Contracts

CoinSpeaker

Chainbreakers – a New Strategy Game Powered by Smart Contracts

Chainbreakers incentivizes players to earn dividends and strategically develop their assets by actively playing. The game assets are contained in NFTs stored on the Ethereum blockchain.

Chainbreakers – a New Strategy Game Powered by Smart Contracts

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Source: CoinSpeaker

Expert Opinion: Dipping Token Prices Test Business Models for Cryptos

Note: “This analysis is an adaptation from the work of Mati Greenspan, Senior Market Analyst at eToro

Crypto business models being tested amidst the meltdown
Weak businesses wither out amidst real industry growth
Binance increases adoption of its BNB coin in the hospitality sector

Bear market tests business model strength as weaker ones fizzle out
Well, bear markets have a beauty of their own. Although they suppress the prices, they do help in cleaning up the weak links from the industry- be it investors or businesses who are either fragile or are in here for some quick bucks. This recent meltdown in cryptos seems to be doing exactly the same. By applying a modernized version of Darwin’s ‘Survival of the Fittest’ theory, this bear market in cryptos is putting pressure on businesses to prove their model.
Of course, this pressure has resulted in some calamities, prominent ones being the main team responsible for developing Ethereum Classic (a spinoff of Ethereum) announcing that they will be closing operations and crypto social site Steemit along with adult entertainment site Spankchain have been laying off a large portion of their staff.  But these calamities have cleaned up weaker elements of the industry and have strengthened the foundations for the crypto industry for exponential growth.
Binance expands adoption in the hospitality industry
While not many crypto stakeholders are happy with how 2018 has been for them, Binance seems to be having a wonderful time. 2018 has been the year when Binance has grown strong as an exchange, as a company and as a true flag bearer of the crypto world. Binance has expanded its operations into new verticals, added new products, added new pairs and yes has bought its native token Binance Coin (BNB) to best use. According to the recent news flow coming from the exchange, Binance has announced that it will be launching its own public blockchain called Binance Chain.  Also its native coin, Binance coin (BNB) can now be used on a blockchain based hotel booking site with over 450,000 listings. This is a particularly interesting update because of the status of BNB coin in general and this sudden use case as a means of payment in sites other than Binance means that this unique asset may also be considered a cryptocurrency as well.
The post Expert Opinion: Dipping Token Prices Test Business Models for Cryptos appeared first on Coingape.
Source: CoinGape

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.
The post Binance Posts Video Demo of Its Decentralized Exchange Featuring Binance Chain appeared first on NewsBTC.
Source: New feedNewsBTC.com

Bitmain Crypto Index Launches For Crypto Investors

CoinSpeaker

Bitmain Crypto Index Launches For Crypto Investors

Mining giant Bitmain has just launched a new cryptocurrency index. The index is for investors who are interested in having a benchmark for their investments.

Bitmain Crypto Index Launches For Crypto Investors

Continue reading at Coinspeaker
Source: CoinSpeaker

BTC/USD Price Analysis: “I want People to Think Binance as a Verb” says CZ

After severe draw downs that has so far clipped investor confidence, the founder of Binance Changpeng Zhao is confident of what next year holds. Of course much has been talked about entry of institutional investors and facilitators—read Fidelity, NASDAQ and others. Though next year might be the year of adoption–and that is the main reason why Binance is expanding, there should be increasing demand in lower time frames. At the moment, that is not happening.
Latest Bitcoin News
Well, the last 11 months has been nothing but one unidirectional move that has seen Bitcoin prices drop +80 percent. From highs of +20,000 to lows of around $3,700, the drain has been relentless.  But even in the midst of this capitulation and doubt, Changpeng Zhao, the co-founder of Binance has some grand plans for the world’s largest exchange by trading volume.
Read: What Is Bitcoin? Crypto Featured as Category on Jeopardy
In a recent interview, he said that his ambition is to turn the Binance into a verb. Just like Google—a noun–was changed into a verb through widespread use, Binance would now that they have plans of collaborating with partners who share the same vision.
Also Read: Bitmain Launches Crypto Index for Investors, Provides Data on 17 Digital Assets
As an exchange that links the traditional fiat system with the future of money while simultaneously creating a market place for digital assets, their aim is to increase avenues through which ordinary users can find ways of investing and even spending their crypto holdings. And with 2019 promising to be a year of adoption thanks to increasing number of institutions keen on diversifying into an emerging asset class and regulators whose main mandate is to protect ordinary investors through policies that make market manipulation risky, next year could be very shaping for Bitcoin.
Nonetheless, before projections are made, we must see prices bouncing off from current floors.
BTC/USD Price Analysis
Weekly Chart

Thing is—and as reiterated in our previous BTC/USD trade plans, prices are on a strong down trend and from candlestick arrangement alone, it’s a tall order for bulls to instantly change trend. That’s unless of course there is an explosion of trading volumes propelling prices above important resistance levels at $4,700, $5,500 and $6,000 respectively.
For now, the direction of trend has been defined and because BTC/USD is trading within a bear breakout pattern with a whole bear bar printing below the lower limit of then support now resistance at $5,800, every high should technically be a selling opportunity.
Daily Chart

Thanks to rejection of lower lows on Nov 25—87k versus 42k that was soon confirmed by upsurges of Nov 28—65k versus 60k, it appears as if bulls are in charge. But before we draw quick conclusions, there must be a confirmation of the three-bar bull reversal pattern completed by Nov 28. It is because of this reason why we suggest risk off traders to hold off their trading until after there are solid moves above our immediate buy triggers at $4,700.
Just like in our previous BTC/USD price analysis, our first bull target will be at $5,000 and later $5,800 assuming buyers step up and erase last week’s losses. However, if none of this happens and prices sink below Nov 28 lows to $3,700, odds are BTC could crash towards $3,000.
All Charts Courtesy of Trading View
Disclaimer: Views and opinions expressed are those of the author and aren’t investment advice. Trading of any form involves risk and so do your due diligence before making a trading decision.
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150,000 PAX Giveaway Announced by Binance to Celebrate its Addition as Base Currency for 6 Cryptos

Image source: The Cryptomist
Binance recently added PAX stablecoin against 6 six cryptos viz. BTC, ETH, XRP, EOS, and XLM. To celebrate this launch, Binance has announced PAX trading competition involving the prize of 150k PAX.
PAX Trading Competition by Binance
Just recently, Binance expanded its stablecoins options with the addition of Paxos Standard (PAX), a stablecoin whose each coin is pegged by 1 US Dollar, on its platform. The official announcement by the biggest cryptocurrency exchange reads,
“Binance will add the following trading pairs with PAX as a quote asset into the USDⓈ Trading Market/Tab at 2018/11/29 1:00 PM (UTC): BNB/PAX, BTC/PAX, ETH/PAX, XRP/PAX, EOS/PAX, and XLM/PAX.”
The exchange further stated,
“Please note: The existing PAX/BNB, PAX/BTC, PAX/ETH trading pairs will be removed and delisted at 2018/11/30 1:00 PM (UTC). All existing orders in each order book will also be canceled at this time.”
On this development, Charles Cascarilla, the founder and CEO of PAX shared,  
“Demand for PAX has grown very quickly since we launched just over two months ago, making it clear that traders want a stable, regulated and transparent stablecoin. Binance is responding to this demand by giving traders the ease of PAX-denominated trading. We believe this will help bring greater confidence and stability to crypto markets at large.”
Now, to celebrate this, Binance has announced the giveaway of 150k PAX. The official statement says,
“To celebrate the launch of six trading pairs with PAX as the quote pair into the Stablecoin Market (USDⓈ), Binance and PAX have committed a total of 150,000 PAX to give away to our users worldwide. Users will be ranked in terms of the total PAX effective volume traded on their Binance account across all PAX trading pairs during the competition period.”
As for the prizes for this trading competition,

1st: Receive 50,000 PAX
2nd: Receive 30,000 PAX
3rd: Receive 10,000 PAX
4th – 10th: 40,000 PAX split evenly
11th – 20th: 15,000 PAX split evenly

It also involves a Lucky draw of 100 PAX for each of 50 winners. This Lucky Draw will have users with PX effective trading volume of 1,000 PAX. To ensure the fairness of this, the event will be broadcasted live on various social media platform for which date will be announced later.
The terms of competition involve Binance reserving the right to disqualify trades and cancel or amend the competition. Most importantly, the “effective trading volume consists of buys and sells (excluding wash trades) in BNB/PAX, BTC/PAX, ETH/PAX, XRP/PAX, EOS/PAX, and XLM/PAX trading pairs.” Moreover, within a single competition, participants aren’t eligible to win multiple prizes and rewards will be issued in 2 weeks after the end of the competition.
The post 150,000 PAX Giveaway Announced by Binance to Celebrate its Addition as Base Currency for 6 Cryptos appeared first on Coingape.
Source: CoinGape

Binance Creates Unified Market to Give Further Push to Stablecoin Trading

CoinSpeaker

Binance Creates Unified Market to Give Further Push to Stablecoin Trading

In order to boost wider adoption of stablecoins, cryptocurrency exchange platform Binance is creating a combined stablecoin market.

Binance Creates Unified Market to Give Further Push to Stablecoin Trading

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Source: CoinSpeaker