Binance Coin [BNB] registers ATH as it surges by over 16,000% since inception

The cryptocurrency market continued to register massive growth, as the prices of most major cryptocurrencies soared. However, the late entrant to the list, Binance Coin [BNB] is posing to be tough competition for other coins in terms of performance. BNB which entered the crypto market in July 2017, breached its all-time high and was trading at $28.79, at press time.
Source: Trading view
Binance Coin started out in July 2017 with a value of $0.1927 and marked its all-time high on May 18 at $31.91, according to the Trading View chart of the coin on Binance. BNB noted the growth of a massive 16,458.31% since 2017. However, until the beginning of 2019, BNB was valued at $6.59, after which the coin noted a surge by 384.15% and peaked at $31.
Source: CoinMarketCap
In the month of May, BNB noted a 28.16% growth, and the coin was valued at $28.66, with a market cap of $4.04 billion. The 24-hour trade volume of the coin was reported to be $551 million as it spiked by over 10% in a day. In the past seven days, the coin grew by 35.97%, but slipped by a minimal 0.25% in an hour.
BNB was highly traded on its native exchange, Binance via the BNB/BTC and BNB/USDT pairs. The BNB/BTC trading volume noted on Binance was $140 million, while the volume reported on the BNB/USDT pair was $132 million. The third place was taken by BKEX via the BNB/USDT pair as it registered a trading volume of $72 million.
The post Binance Coin [BNB] registers ATH as it surges by over 16,000% since inception appeared first on AMBCrypto.
Source: AMB Crypto

Binance hack: Scammers luring people into buying ‘discounted stolen Bitcoins [BTC]’

The world’s largest cryptocurrency exchange, Binance, was attacked on May 7, and hackers stole 7,000 Bitcoins [BTC] worth $40 million. The Chief Executive Officer of Binance, Changpeng Zhao or CZ, proactively took care of the situation and shut deposits and withdrawals on the exchange, which were later resumed on May 16.
Even though the funds have not been recovered yet, another scam seems to be brewing in the shadow of these funds. A Reddit user suggested on the r/Cryptocurrency subreddit that the ‘team’ that hacked Binance was selling the stolen 7,000 BTCs, with a 70% discount.
Source: Rentry
The site claimed to provide 3 BTCs for 20 ETH and 0.2BTC for 2 ETH. This page led users to another page which informed them that the process would be completed after they add their Bitcoin address and ETH sessions.
Source: Rentry
Most users suggested that this is a scam, warning others to not buy into this scheme. One of the users commented,
“Beware of any “offer” that requires you to send large amounts of money to a stranger to get some favor in return. “
As for Binance’s stolen funds, many prominent figures from the crypto-space had offered their services to the exchange to help it in its efforts to trace the funds and retrieve them. John McAfee said,
 “If I can help at all please let me know. Underneath my clown suit is still one of the most experienced cybersecurity experts on the planet. I’ve been doing it for 51 years. I am at your service.”
Tron’s Justin Sun also pledged to donate USDT worth the stolen BTCs. However, CZ refused his help. Whale Alert, a Twitter handle that keeps an eye on the movement of tokens and coins from various wallets and exchanges, also offered to lend a hand to help Binance out. The Twitter handle tweeted,
“ We have added special warnings for the Binance Hack! If anyone tries to move the stolen #BTC, you’ll be the first to know!”
The post Binance hack: Scammers luring people into buying ‘discounted stolen Bitcoins [BTC]’ appeared first on AMBCrypto.
Source: AMB Crypto

Chiliz Partners Binance Chain to Bring Global Brands into the Crypto Space

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Chiliz Partners Binance Chain to Bring Global Brands into the Crypto Space
Chiliz and Binance Chain have joined forces to facilitate the crypto journey of such prominent clubs in the football space as Juventus and Paris Saint-Germain.
Chiliz Partners Binance Chain to Bring Global Brands into the Crypto Space

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Source: CoinSpeaker

Binance Restarts Services Pushing BNB Price to 2019 All-Time High

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Binance Restarts Services Pushing BNB Price to 2019 All-Time High
Binance resumes its activities after a forced suspension due to the security reasons. Binance Coin (BNB) price climbs high in reaction to the news.
Binance Restarts Services Pushing BNB Price to 2019 All-Time High

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Source: CoinSpeaker

If eBay Rumor is True, Binance Coin (BNB) could double to $40

Binance Coin (BNB) up 5.8 percent
Binance and eBay could link up

There is no official confirmation, but rumor has it that eBay could announce their support of Binance Coin (BNB). The platform is one of the largest in the world, and that resulting demand could thrust BNB towards $42.
Binance Coin Price Analysis
Fundamentals
At spot rates, Binance Coin is trading above $20, up 5.8 percent from last week’s close. Well, if anything this is bullish and an indicator of how Binance Coin (BNB) bulls are resilient even after a reputation-damaging hack.
As the native coin of the Binance Chain and facilitator of Binance, it was natural for BNB to retrace in light of the $40-million heist. However, the recovery is impressive, and as the Changpeng Zhao updates the community on progress or system overhauls, BNB is printing higher.  Withdrawals and deposits resume today:
“Our team is making progress and has been working through the weekend. In the past few days, we have made some significant overhauls to our system, with a large number of advanced security features added and/or completely re-architected. We will share details on some of the changes later.”
Even so, what could further lift BNB is if eBay offers support for the asset. With 179 million users across the globe, the platform is one of the largest marketplaces in the world. Therefore, its support would no doubt aid in driving adoption, increasing demand for the coin as BNB surge higher.
Candlestick Arrangements

Currently, Binance Coin (BNB) is stable in the last 24 hours but trading within a bullish breakout pattern. Despite the retracement in the first week of the month, bulls are back correcting the under-valuation of May-10 in a bull trend resumption phase. Because of this, every dip is another loading opportunity for traders aiming at BNB’s all-time-highs at $26.
Furthermore, note that prices are reacting from the 61.8 percent Fibonacci retracement level of the coin’s recent leg up. From this supportive price action and bullish fundamentals, it is likely that BNB will edge higher in days ahead.
However, it is after prices edge past May-13 highs of $26 that risk-averse traders can load up with targets at $40 or the 161.8 percent Fibonacci extension level anchored on BNB’s all-time high-lows.
Technical Indicator
Our reference bar is Mar-5 bull bar. It is wide-ranging and breaks above the main resistance line at around $12. For upswings toward $42, then any break above $26 must be with high transaction volumes exceeding 4.88 million of Mar-5.
Chart courtesy of Trading View
The post If eBay Rumor is True, Binance Coin (BNB) could double to $40 appeared first on NewsBTC.
Source: New feedNewsBTC.com

Bitcoin [BTC] whale alert lends helping hand to Binance following $40 million hack

Well, what they say is true, a Bitcoin [BTC] bull-run brings the entire cryptocurrency market together. The large virtual currency transaction aggregator Whale Alert has pledged its support to Binance, following the latter’s hack to the tune of $40 million last week.
The twitter handle for the aggregator stated that a special protocol has been put in place that will notify the hacked exchange if any large-scale transaction involving the stolen Bitcoin is administered. Whale Alerts’ May 14 tweet stated:
“ We have added special warnings for the Binance Hack! If anyone tries to move the stolen #BTC, you’ll be the first to know!”
Binance was hacked on May 8 when a “security breach,” resulted in 7,000 BTC being taken out of the exchange. Given the prevailing BTC price, the hack resulted in a loss of $40 million.
Since then, the CEO of the exchange, Changpeng Zhao had initially veered towards a Bitcoin blockchain “reorg,” however, after community backlash, the idea was dropped.
CZ responded to Whale Alert’s assistance in the hack, stating:
“Damn, great idea, thanks! Have to follow you now. If you do this for all other previous hacks, this is such a strong feature that everyone have to follow you. And you are providing an invaluable service in fighting bad players in the space. Social monitoring!”
Following the hack, Binance announced that withdrawals and deposits would be halted till May 14. Although, based on a subsequent announcement by the exchange, a scheduled upgrade will be performed at 0300 UTC on May 15, which would last for a period of 6-8 hours.
During this period, the exchange would move to once again suspend deposits, withdrawals, and trading. Their security update stated:
“Deposits that are not completed before the start of the upgrade will be processed after the upgrade is complete. Please allow some time for deposits to be reflected in your account following the system upgrade.”
It should be noted that in the past week with Bitcoin surging over $8,000 days after it breached $6,000, Whale Alert notifications have been going off the chart. On May 14, the transaction aggregator stated that over $21 million in Bitcoins were traded from two unknown locations.
The post Bitcoin [BTC] whale alert lends helping hand to Binance following $40 million hack appeared first on AMBCrypto.
Source: AMB Crypto

Binance to face 6-8 hour downtime during impending system upgrade

Over the last seven days, Binance has been in the limelight after questions were raised against the exchange’s “credibility” following the Bitcoin [BTC] hack. Since the 7000 BTC hack, Binance has acted quickly and at press time, Binance had released their third security update over the past week.
It was announced that the exchange would be running a scheduled upgrade which would commence on 15th May, 2019 at 3:00 am [UTC]. The upgrade would likely run for a duration of 6-8 hours.
It was also mentioned that the exchange would suspend deposits, withdrawals, and trading during the system upgrade period. The blog stated,
“Deposits that are not completed before the start of the upgrade will be processed after the upgrade is complete. Please allow some time for deposits to be reflected in your account following the system upgrade.”
Moreover, it was mentioned that after the upgrade, users will be provided with a 30 minute window to cancel orders, process deposits, and withdrawals and use all other account services before trading resumes on the exchange.
Binance has been relatively very active over the past few days to recover from the BTC theft. Following the hack, due to irregular trading, Binance restricted all existing API keys to have trade functionality back in order.
The post Binance to face 6-8 hour downtime during impending system upgrade appeared first on AMBCrypto.
Source: AMB Crypto

Binance reigns as the largest Initial Exchange Offering platform, finds BitMEX research

Initial Exchange Offerings [IEO] is usually referred to as the concept replacing Initial Coin Offering [ICO]. More so, several new projects are opting to raise funds via an IEO instead of an ICO, considering the fact that top exchanges are the ones providing this service.
Binance, one of the largest exchanges in the world was one of the first exchanges to introduce a token sale platform, Binance Launchpad. The platform conducted a token sale for nine projects, with the most significant one being the BitTorrent token sale. A recent report by BitMEX research on Initial Exchange Offerings revealed that Binance was the largest Initial Exchange Offering platform.
Additionally, the exchange raised a total of $17.3 million in IEOs so far, with BitTorrent being the largest token sale on the platform since it raised $7.5 million via the IEO. The second largest token sale that took place on the platform was the Celer Network, with the project raising $4.5 million, and the third largest was Fetch.AI, with the project raising $4.1 million.
Source: BitMEX research
Notably, other exchanges providing token sale services on the platform include Huobi, Bittrex, Okex, BitMax, and KuCoin. So far, Huobi has held two token sales on its platform, for TOP and Newton, and secured the second position after raising a total of $8.1 million. Bittrex stood third with a total of $7 million for one project, VeriBlock.
BitMEX research stated,
“The number of IEOs taking place has intensified in recent months, as the model is proving somewhat successful. Smaller exchange platforms are attempting to replicate the model [..] US$38.9m has been raised so far by IEOs in 2019 (up to 25th April). Binance has been the most prolific IEO platform by a considerable margin.”
Top exchange platforms by IEO funds raised | Source: BitMEX Research
The post Binance reigns as the largest Initial Exchange Offering platform, finds BitMEX research appeared first on AMBCrypto.
Source: AMB Crypto

Binance Coin [BNB] Kick Starts Monday with Over 10% Gain, Reclaims 7th Spot Again

The unfortunate hack on Binance led many holders and traders fell into the controversial debate. This buzz had an adverse effect on Binance official coin, Binance coin/BNB during the last week but the currency has kick-started the new week with over 10 percent growth.
At the time of reporting, Binance coin/BNB is up with 10.14% percent within past 24 hours which made it trade at the value $23.12 against US Dollar. Nevertheless, last week, the price of one BNB saw a steep decline of $18 which led it fell down to the 8th spot on coinmarketcap in terms of market capitalizations.
Fortunately, on May 13, 2019, BNB is again available on its previous position and can be seen as the 7th largest cryptocurrency in terms of the average trading volume. By snatching its long-standing position from Tether (USDT), BNB’s market capitalization today counts at $3,263,765,935 USD which is majorly spat on its parent exchange, Binance, in trading pairs of USDT and BTC.
Image source – Coinmarketcap
The boost in the price of BNB can be directly linked to Binance’s latest announcement – that is enabling its users with deposit and withdrawal feature. Binance CEO, CZ released a brief update on Binance official website on May 13, 2019, and stated that they will resume the deposit and withdrawal at Binance exchange on Tuesday (May 14, 2 019) which is presently suspended since the hacking incident happened. CZ in the post briefed that;
Our team is making progress and has been working through the weekend. In the past few days, we have made some significant overhauls to our system, with a large number of advanced security features added and/or completely re-architected. We will share details on some of the changes later.
Also Read: Binance CEO, CZ Shares Sorry Note for ‘Dirty Word Reorg’ Citing New Update on Security Incident
We aim to fully resume deposits and withdrawals on Tuesday. The time will be communicated at a later stage, depending on how the testing goes. This upgrade will require a trading halt. We will update you again tomorrow.
What do you think about the boost in BNB’s trading volume.? Do you think CZ’s confirmation of resuming deposit and withdrawal positively influenced the value of BNB.? Let us know in the comment below
The post Binance Coin [BNB] Kick Starts Monday with Over 10% Gain, Reclaims 7th Spot Again appeared first on Coingape.
Source: CoinGape

Binance Set to Be Back in Business Starting Tomorrow Already

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Binance Set to Be Back in Business Starting Tomorrow Already
Currently, all withdrawal and deposit actions are marked as ‘Suspend’ and cannot be carried out on Binance. 
Binance Set to Be Back in Business Starting Tomorrow Already

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Source: CoinSpeaker

Binance Coin [BNB] pumps by 7 percent in a correction-heavy market as parent exchange revamps security

Less than a week after the largest cryptocurrency exchange in the world, Binance, was hacked, Binance Coin [BNB] has left the rest of the market in its dust by amassing a significant rise. With the correction bears halting Bitcoin’s price pump, Binance Coin and XRP were the only coins trading in the green.
Following the hack and the re-org confusion that followed, Binance announced another “Security Incident Update” on May 12. The exchange stated that all deposits and withdrawals will be resumed on Tuesday, May 14. Further, a “trading halt” will also be implemented during the resumption.
Binance’s token sale platform, Binance Launchpad, will see the Harmony Protocol token sale go live and metrics for the same will be announced on May 15, based on the tested lottery system which requires customers to hold BNB in order to participate in the same. In past token sales, BNB has soared prior to a Launchpad event, due to the lottery system.
On the back of this security fix and the imminent Launchpad push, Binance Coin has defied the collective market bears and soared by 7.45 percent against the US dollar over the past 24 hours, at press time. The coin was trading at $22.56, despite a decline in the coin’s price after the hack. The price is only 12.41 percent below its all-time high of $25.36.
Source: TradingView
The present rise began on May 10, as the re-org tensions were resolved and Binance was in the process of reinforcing its security systems. Post the update, the price of the coin first climbed from $18.55 by over 17 percent to reach $21.79 by 1700 UTC on May 11. Correction bears brought down the BNB price to $20.50, following which the second bullish swing pushed the price up by 10.04 percent to its press time price.
Since the pump began on Friday, the market cap of the coin increased by a whopping $500 million, breaking the $3 billion ceiling at 0300 UTC on May 13.
As expected, Binance took the top-two spots in terms of BNB trading volume, accounting for 25.67 percent and 23.86 percent in the trading pairs BNB/USDT and BNB/BTC, respectively. Other notable exchanges on the list were Bit-Z, EXX, LBank and P2PB2B.
The post Binance Coin [BNB] pumps by 7 percent in a correction-heavy market as parent exchange revamps security appeared first on AMBCrypto.
Source: AMB Crypto

Binance’s CZ informs customers about resumption of deposit, withdrawal services

Binance had pledged to increase the quality of its security after the May 7 hack, wherein 7,000 Bitcoins [BTC] were stolen from the exchange’s hot wallet. However, the customers can take a sigh of relief as the CEO of Binance, Changpeng Zhao, informed that withdrawals and deposits services would be restarted early next week.
Twitter user @CryptoVanessa asked:
“Hey @cz_binance how long till the deposite/withdraw suspend is over ? @binance #Binance”
CZ informed the user that his team is aiming to start the services by early next week and added:
“We are aiming for early part of next week, better safe than sorry this time. Please bare with us. Your understanding is much appreciated. ”
With the largest cryptocurrency Bitcoin [BTC] soaring almost every day and aiming to cross $7k, the users are anxious to get better returns and deposit more BTC. One of the Twitter users asked the CEO to hurry up the process in order to deposit BTC and the CEO replied:
“working on it, day and night.”
Binance, the largest cryptocurrency exchange was believed to be safe and CZ had time and again bragged about its security until they were hacked. Post the hack, the company promised its customers to ‘significantly revamp’ their security, procedures, and practices. The CEO said:
“significant changes to the API, 2FA, and withdrawal validation areas, which was an area exploited by hackers during this incident.”
Post the hack, Binance Coin had been falling, however, the pump of BTC saved the coin from going into a slump. BNB was valued at $20.52 with a market cap of $2.89 billion, at press time. The 24-hour trading volume of the coin was reported to be $234.74 million as it reported a fall by 10.51% over the past week. The coin made some recovery as it managed to register 6.03% growth in the past day and 1.09% within an hour.
The post Binance’s CZ informs customers about resumption of deposit, withdrawal services appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin (BTC) Stopped Caring About Bad News, Up 11 Percent

Bitcoin (BTC) add 11 percent
Changpeng Zhao wanted to roll-back the Bitcoin blockchain

Hackers have no borders and funds are after all, not SAFU after yesterday’s hack that saw Binance lose 7,000 BTCs. All in all, Bitcoin (BTC) prices are in a solid uptrend. As a result, traders have an opportunity to buy on dips with the first target at $6,000.
Bitcoin Price Analysis
Fundamentals
If anything, it has been a tumultuous 24 hours for Binance, the world’s largest exchange. As reported by NewsBTC, a team of skilled and patient hackers went behind Binance security, siphoning more than $40 million worth of BTCs. It came as a shocker to the community and even the exchange as this is the first time it is announcing the loss of investor funds two years after launching. Calling the hack an expensive lesson, Changpeng Zhao is now reassuring victims of their compensation. That’s thanks to the exchange’s decision to create a SAFU fund, a safety net against eventualities as today’s.
Nonetheless and despite the transparency of Changpeng admitting flaws, it is his controversial proposal of re-securing lost Bitcoins that is a source of debate. Earlier on, he was considering a re-organization in a bid to roll back transactions. However, the idea proved expensive, and the whole exercise would end up damaging the credibility of Bitcoin. Apart from that, a re-organization demands 75 percent of the network’s hash rate. As a public chain commandeered by miners with different objectives, that would be close to impossible. Even so, Binance is in talks with other exchanges, blacklisting the address and preventing the liquidation of the assets.
Candlestick Arrangement

Although hacks are often a source of FUDs, Bitcoin (BTC) is responding positively. The world’s most valuable asset is up 11 percent in the last week. All the same, what is impressive is the development in the daily chart. Reacting to yesterday’s heist is the reversal of NY session losses.
Replacing it is a wide-ranging bull bar bouncing from Apr-2019 highs of $5,600. That means the investor community is confident and in line with our BTC/USD trade plan, risk-off, aggressive traders should fine tune entries in lower time frames with modest targets of $6,000.
On the reverse side, risk-averse traders should wait for a full close above $6,000 because of what’s at stake. Close above $6,000 automatically nullify bears of Nov 2018 signaling the beginning of a new wave of higher highs with targets at $8,500.
Technical Indicator
Buyers are back albeit with light volumes below those of Apr-25 of 19k. As per our trade plan, any bull bar further driving BTC towards $6,000 with high volumes preferably above 19k confirms buyers of early April.
Chart courtesy of Trading View
The post Bitcoin (BTC) Stopped Caring About Bad News, Up 11 Percent appeared first on NewsBTC.
Source: New feedNewsBTC.com

David Schwartz on #CraigIsSatoshi, Binance compromised and more

Crypto News – 08 April – David Schwartz on #CraigIsSatoshi, Binance compromised and more
Don’t forget to follow us for our daily videos#BinanceHack #Ripple #ripplenews @rogerkver @SatoshiLite @JoelKatz @binance #Binance #CryptoNews #cryptocurrency pic.twitter.com/hS9JAkQAON
— AMBCrypto (@CryptoAmb) May 8, 2019

Crypto News – 08 May
Litecoin releases LTC Core 0.17.1: According to Litecoin’s Medium page, the new release included new features, important bug-fixes, and overall performance upgrade and efficient translations
Read more at https://bit.ly/2J7WCC7
Barry Silbert on BTC and Gold: The Grayscale Investments CEO opined that Bitcoin does everything that gold used to do
Read more at https://bit.ly/2VoKSla
New allegation against Craig Wright: According to the WizSec Bitcoin Security Specialists blog, redacted and unsealed court documents reveal that Craig Wright used a “lazy, copy-paste job” to provide a list of his early BTC addresses
Read more at https://bit.ly/2H9ddC5
Bitfinex officially release IEO whitepaper: According to the whitepaper, Bitfinex will be offering USDT in exchange for LEO tokens
Read more at https://bit.ly/2H5YKXG
Binance confirms margin trading feature: During an AMA session, Binance’s Changpeng Zhao responded to a user’s query and confirmed margin trading on Binance
Read more at https://bit.ly/2DYRufv
Binance compromised by hackers: Hackers attacked cryptocurrency exchange, Binance, withdrawing $40 million worth BTCs and stealing several users’ API keys and 2FA codes
Read more at https://bit.ly/2JopyoRV
Roger Ver on Peter McCormack: Roger Ver targeted Peter McCormack and Eric Lombrozo during a Q&A session, claiming that the duo meticulously try to convince people from using Bitcoin to make payments
Read more at https://bit.ly/2LuEHry
 
The post David Schwartz on #CraigIsSatoshi, Binance compromised and more appeared first on AMBCrypto.
Source: AMB Crypto

WeChat Updates Its Payments Policy, Now Crypto Transactions are Banned

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WeChat Updates Its Payments Policy, Now Crypto Transactions are Banned
WeChat, the Chinese largest social media and messaging platform operated by Tencent, has updated its service terms. Starting from May 31 it is forbidden to perform cryptocurrency trading there.
WeChat Updates Its Payments Policy, Now Crypto Transactions are Banned

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Source: CoinSpeaker