Crypto Markets Hit 11 Month High as XRP Gets a Partnership Boost

Crypto markets reach 2019 high; Bitcoin still in charge, XRP and BNB pumping, LTC retreating slowly.
Market Wrap
Crypto markets have reached their highest level since July 2018 in terms of market capitalization. The momentum has come from Bitcoin hitting another 2019 top, and Ripple’s XRP pumping on a new partnership announcement.
Bitcoin has been grinding higher for the past 24 hours until it topped $9,400 briefly marking its highest price since early May 2018. There is heavy resistance above this and BTC quickly started to retreat back to the $9,200 area where it was trading this time yesterday. According to coinmarketcap.com daily volume dumped 25% in an unnatural looking spike so the figures could be spurious.
Ethereum has been static again and remains at $270 where it was this time yesterday. Without any solid fundamentals ETH remains sluggish and unable to push towards $300. It is still 80 percent down from its all-time high and ‘altseason’ has yet to materialize.
The top ten is a mixed affair during Asian trading today but the top performer is XRP. The Ripple token surged 9 percent after the announcement that the company was partnering with MoneyGram. The deal would involve the deployment of xRapid for cross border transfers using XRP. After topping $0.46 XRP corrected to $0.44 where it currently trades.

An industry defining milestone: together, @MoneyGram and @Ripple are solving the challenges with cross-border payments using the speed and efficiency of #XRP. https://t.co/xIfeJJgSy7
— Brad Garlinghouse (@bgarlinghouse) June 17, 2019

Binance Coin is also doing well today adding 5 percent as the exchange announced that it will issue a number of crypto-pegged tokens on Binance Chain in the coming days, starting with $BTCB, a BEP2 token pegged to $BTC. BSV is up marginally and Litecoin is starting its pullback, dropping 3 percent back towards $130.
The top twenty is also mixed but red is dominating over green as altcoins slide again. NEO and Tezos are dumping 5 percent a piece right now and IOTA and NEM are not far behind dropping 3 percent. Only Cosmos is making anything with 3 percent added on the day.
FOMO: Chainlink Churning Higher
Today’s top one hundred top performer is LINK which has cranked 18 percent to hit $2. The fomo is still lingering from the Google Cloud tie up as this altcoin climbs the charts to 24th with a market cap of $700 million. Japan’s Monacoin is also on a roll today adding 15 percent, unsurprisingly most of it on Bitbank in JPY. Zcash is the third most popular altcoin today making 13 percent.
The two usual suspects are at the bottom end of the performance pile, Maximine Coin and Aurora.
Total market cap 24 hours. Coinmarketcap.com
Total crypto market cap hit a new 2019 high of $290 billion a few hours ago. The move was driven by BTC and XRP which both pumped within a few hours of each other. Market cap is currently back at $286 billion where it was this time yesterday. BTC is still in the driving seat.
Market Wrap is a section that takes a daily look at the top cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals.
The post Crypto Markets Hit 11 Month High as XRP Gets a Partnership Boost appeared first on NewsBTC.
Source: New feedNewsBTC.com

Digital tokens resurrect with value addition after crypto winter

According to OnChainFX, the top 1o legitimate exchanges deliver the trading volume for measuring the real trading volume of the digital assets. Data collected from the LONG HASH website revealed that the majority of tokens had declined to half of their value since attaining the ATH. The most shocking results came out for ETHLend, based on the Ethereum blockchain that used the digital tokens in the form of collateral for transactions. LONG HASH quoted that ETHLend offered a decentralized peer-to-peer smart contract lending in the crypto-ecosystem. The ETH-based token was trending as the investors were constantly using ETH for transactions, which led to its surge before the bear attacks on the market.
Tokens such as Holo and Ravencoin maintained their value equivalent to 50% of their ATH as they were initiated after the 2017 bull run. It came as a surprise for crypto users after tokens like Binance Coin and ChainLink underwent resurgence to achieve their ATH, that was higher than the previous ATH mark.

Source: LONG HASH
As per the graph, tokens achieved their ATHs from December 2017 to January 2018 and then plummeted. Many of the investors missed out on this bull rush in the crypto market. As the market conditions did not remain the same for a longer duration, tokens slipped into the phase, commonly known as the crypto winter, among the digital asset enthusiasts.
LONG HASH shared growth rate of ChainLink and tweeted,
“Chainlink (LINK) is having a pretty good day”.
Some tokens like BNB and LINK have been performing well and the community can take comfort from this.
The post Digital tokens resurrect with value addition after crypto winter appeared first on AMBCrypto.
Source: AMB Crypto

Binance coin pumps by almost 3% in an hour with large volume sell orders

Most major cryptocurrencies saw the bull smile at them as the prices surged on June 15. Binance coin [BNB] saw a rally that pumped the price of the seventh largest cryptocurrency by over 4% within the four hours.
Source: Trading view
The price of the coin pumped and was trading at approximately $33, while according to the data of CoinMarketCap, the spike was noticed by 2.13% over the past day. The market cap of the coin was noted to be $4.75 billion as the 24-hour trading volume was reported to be $696.34 million. In the past seven days, the coin registered 5.42% growth after recovering from a fall.
The twitter users caught the large volume of BNB being traded after a long time. Twitter user @krugermacro said:
“$BNB puking, largest selling volume in ages.”
Source: Twitter
The news of Binance restricting the users in the United States impacted the price of the coin, however, the coin was quick to recover from it. The highest trading volume within 24-hours was noted by Binance with BNB/USDT and BNB/BTC pairs, respectively. On the first position, BNB/USDT noted a volume of $151 million followed by BNB/BTC with $147 million. The third place was taken by BKEX exchange with BNB/USDT pair as it reported a volume of $99 million.
The post Binance coin pumps by almost 3% in an hour with large volume sell orders appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin Price Jumps Above $8,700 following Binance US Closure

Bitcoin is becoming a hedging instrument even against the rest of the cryptocurrency market.
The largest cryptocurrency profited as much as 6 percent on Friday to close above $8,700. At the same time, other leading cryptocurrencies, such as Ethereum, Litecoin, and EOS, trended in negative territory. The massive contrast between the bitcoin and the rest of the cryptocurrency market indicated a capital flight. Traders suggestively exchanged a bulk of altcoins for bitcoin as a safety measure against the latest Binance announcement.
The Malta-based cryptocurrency exchange, which accounted for the highest global cryptocurrency volume, announced on Friday that it is barring US customers from accessing its services. The announcement indicated that Binance would lose about 15 percent of its net monthly traffic, amounting to over 40 million customers. The firm’s sudden shutting down reportedly prompted the US customers to withdraw a large number of altcoins, which included Binance’s very own native token BNB coin.
Binance Coin (BNB) Dropped Close to 18% on Friday | Image Credits: TradingView.com
The BNB price dropped by as much as 17 percent against the BTC on Friday.
Bitcoin against Altcoin Liquidity Crisis
Alex Krüger, a prominent market analyst, said today that Binance’s issues with its US customers are bullish for bitcoin. He cited Tether, the company behind the controversial stablecoin USDT, to explain the correlation of bitcoin with the rest of the altcoin market. In April 2019, the New York Attorney General’s office on April 25 announced that it had obtained a court order against Tether and its associate firm BitFinex for allegedly hiding $850 million loss from USDT investors.
“Upcoming Binance’s issues with US residents = Bullish for BTC,” wrote Krüger. “This was even clearer than with April’s Tether “FUD.” Speculators are supposed to act on meaningful news, not just theorize about it.”

Upcomimg Binance's issues with US residents = Bullish for $BTC. This was even clearer than with April's Tether "FUD". Speculators are supposed to act on meaningful news, not just theorize about it. https://t.co/7bAfEOiXTW
— Alex Krüger (@krugermacro) June 14, 2019

Also, in October 2018, USDT dropped its dollar-peg to fall to its 18-month low of $0.92. The slide in the stablecoin pushed bitcoin $600 higher on BitFinex.
What’s Now for Bitcoin
The bitcoin market’s intraday arrangements point to a small downside correction, according to its overbought Relative Strength Indicator on Coinbase daily chart. Nevertheless, market analyst Josh Rager suggest that the cryptocurrency has fuel to retest $8,750, given it manages to float above $8,000.
“Break and close above $8,948 is bullish,” he added.

$BTC…
Nice break up out of that rising wedge, big players painted it perfect on the chart to trap many into shorting followed by liquidations
Would like to see a pullback to $8500s before another retest to break above $8750
Break & close above $8948 is bullish pic.twitter.com/bAlkGNFxz2
— Josh Rager (@Josh_Rager) June 15, 2019

Pseudonymous analyst BitBit believes bitcoin is due for a much larger upside move than what is suggested by Rager. He measured the cryptocurrency based on monthly performance, stating that it could continue its bull run to touch the five-figure status.
“I’m saying above 10k by the end of the month, might even touch 11k,” said BitBit.
The bitcoin price was trading at $8,645 at the time of this writing.
The post Bitcoin Price Jumps Above $8,700 following Binance US Closure appeared first on NewsBTC.
Source: New feedNewsBTC.com

June’s Biggest Shakeups in the Crypto Game by the Numbers

Coinspeaker
June’s Biggest Shakeups in the Crypto Game by the Numbers
COR Index published its latest monthly report of key crypto exchange data. The report is based on figures gathered from over 150 cryptos and the top crypto exchanges.
June’s Biggest Shakeups in the Crypto Game by the Numbers

Continue reading at Coinspeaker
Source: CoinSpeaker

Will Binance’s ‘Short Term Pains’ Prove Worthy of ‘Long Term Gains’ for US Citizens

Coinspeaker
Will Binance’s ‘Short Term Pains’ Prove Worthy of ‘Long Term Gains’ for US Citizens
Even though Binance currently gets approximately 15% of traffic from U.S. customers, they announced that they will stop serving US individual and corporate customers on Binance.com in September.
Will Binance’s ‘Short Term Pains’ Prove Worthy of ‘Long Term Gains’ for US Citizens

Continue reading at Coinspeaker
Source: CoinSpeaker

Crypto Market Wrap: Consolidation Could Crack on Bitcoin’s Next Move

Crypto markets still range bound; Bitcoin, BCH and BSV moving marginally, Litecoin, BNB and ADA fall back. 
Market Wrap
It has been another day of consolidation for crypto markets as they end the week flat. Very little movement outside of the channel has occurred this week as total market capitalization has been range bound around the $250 billion level. Things have picked up marginally for some crypto assets but others have lost ground.
Bitcoin hit an intraday high of just above $8,300 a few hours ago but pulled back to its current price of $8,230. The move is bullish but not strong enough to break the resistance at this level. Volume has picked up again and is approaching $20 billion which is a sign that further gains could be on the cards.
Ethereum is still flat and holding around $255. There has been very little momentum in the ETH camp and it is down 1.5 percent on the day. Volume is declining as the head and shoulders formation reaches its closure and a drop could be imminent. Current support for ETH lies at $230.
The top ten is showing more red than green during Asian trading this morning. The only two aside from Bitcoin that are up on the day are Bitcoin Cash with 2.5 percent and Bitcoin SV with 3.5 percent. The rest are in the red with Litecoin and Binance Coin dropping the most at over 3 percent each.
Top twenty movements are also minimal with a couple of percent being dropped by Cardano and Tron. Gaining a similar amount are Cosmos and NEO reaching $6.25 and $13.13 respectively. The rest are plus or minus a percent or so as the crypto consolidation continues.
FOMO: Chainlink Spikes on Google Hints
It comes as no surprise that today’s top one hundred top performer is Chainlink. The 43 percent spike came after Google Cloud dropped hints that it would be working with Ethereum based LINK. The Reddit feed went wild and the altcoin spiked in volume from $24 million to $390 million as the fomo frenzy gathered pace. Binance is getting the majority of trade at the moment with 67 percent.
Energi is a newcomer to the top one hundred with a 30 percent pump as NRG gets listed on KuCoin. Bytom has also had a productive 24 hours with 14 percent added. As predicted the big dump is Aurora as it peaks and troughs on a daily basis, today dumping 50 percent for no obvious reason.
Total market cap 24 hours. Coinmarketcap.com
Total crypto market capitalization is currently marginally higher than this time yesterday at $262 billion. Markets are still range bound however and are unlikely to see any bigger moves until Bitcoin breaks out. The push back above $8,200, albeit briefly, is a bullish sign though so the weekend in crypto land could get interesting.
Market Wrap is a section that takes a daily look at the top cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals.
The post Crypto Market Wrap: Consolidation Could Crack on Bitcoin’s Next Move appeared first on NewsBTC.
Source: New feedNewsBTC.com

Binance Coin records yet another milestone in 2019 as BNB’s market cap crosses $5 billion

Binance coin [BNB] added another feather to its cap after it surged and achieved a market cap of over $5 billion. The achievement comes the same year as when Binance launched its own decentralized exchange, DEX.
Binance today, is one of the world’s biggest crypto-exchanges in terms of trading volume. The exchange’s performance has had a positive influence on its native token, Binance Coin. Binance, alongside Coinbase, also enjoys the highest web traffic among all the world’s crypto-exchanges.
Source: CoinMarketCap
The overhead chart depicts BNB’s elliptical surge in terms of both value and market cap. BNB maintained a stable valuation throughout much of the year, even during the crypto-winter when a majority of coins dipped. In fact, Binance’s native token has surged by over 450% in 2019. At press time, BNB was priced at $35.69 with a 24-hour trading volume of $552.52 million. It had a market cap of $5.04 billion.
The main reason behind BNB’s surge is its migration from ERC-20 to Binance’s own blockchain. Also, as already discussed, Binance’s own performance has rubbed onto the performance and valuation of Binance Coin. Additionally, the migration of many other digital coins to Binance blockchain has also contributed to the success and growing popularity of the two.
Source: TradingView
The landmark was celebrated by many of Twitter, with a user commenting,

Congratulations to @binance.$BNB just broke $5 Bil. Market cap.
This is just the beginning
Up next $40????
Slowly but surely

#BUYBNB
— DR. (@Dr_Yilmaz_PhD) June 13, 2019
Changpeng Zhao, CEO of Binance, was however humble and gracious about the achievement. He tweeted,

Lol, found out through this tweet. Focus on #buiding.
— CZ Binance (@cz_binance) June 13, 2019
The post Binance Coin records yet another milestone in 2019 as BNB’s market cap crosses $5 billion appeared first on AMBCrypto.
Source: AMB Crypto

Binance Coin-pegged investment funds launched by investment firm, EXANTE

2019 has been a good year for the cryptocurrency space, with several digital assets posting significant gains after the troubles of the crypto-winter towards late-2018. Parallelly, crypto-exchanges have been making waves in the industry as well, with Binance launching Binance DEX and the GBP-backed stablecoin in the works. Binance’s native token, Binance Coin, surged by more than 450 percent in 2019, at press time.
According to a recent report, EXANTE, a financial investment company, has announced the launch of a new investment fund that will be directly pegged with Binance Coin [BNB]. Speculators believe that the announcement may have a positive impact on BNB’s price valuation, as the decision serves as a new gateway into the crypto-ecosystem for new investors. EXANTE customers already have the option to trade with over 20 other investment funds, pegged to other virtual assets.
EXANTE also shares headquarters with Binance in Malta, and was one of the first investment companies to start a Bitcoin fund back in 2013, when the concept of Bitcoin was not widely understood.
Additionally, the BNB coin has surprisingly gathered tremendous attention in terms of mass adoption, with the latest development allowing it to be traded using Visa and MasterCard. This association is thus considered a major landmark in terms of mainstream adoption and involvement of non-crypto players.
The future seems bright for Binance as it currently stands as the largest cryptocurrency exchange in the world, while BNB maintains an upward growth trajectory in terms of value and popularity. Given BNB’s stellar performance in 2019, industry expert speculate the company will soon peg Binance next to their investment funds.
HeadLine: Binance token to power fiat investment funds
Tag: Cz, Binance community
#crypto #BNB #Binance #altcoin #cryptocurrency
The post Binance Coin-pegged investment funds launched by investment firm, EXANTE appeared first on AMBCrypto.
Source: AMB Crypto

Crypto-Market Top Weekly Performers: Bitcoin, Litecoin, XRP, Bitcoin SV, ATOM and Binance Coin

Bitcoin [BTC] volatility has increased over the past few weeks. The last 30-Day Estimated of volatility in Bitcoin is around 5.04%.  Moreover, the volatility has usually been inclined towards the positive side.
Nevertheless, the momentum has shifted slightly towards the bearish side as the traders look for a pullback. However, the pullback was limited at around $7500 during the past week. The trading range was usually around $7800-$7900 during the week.
This was also one of the first weeks since February when Bitcoin recorded a significantly long red candle. The total market capitalization of the market has been around $250 billion, with Bitcoins dominance around 55.5%.
Also Read: Bitcoin Mining Report By Coinshares and Fidelity Breaks Rhetoric on Profitability and Geo-fencing
BTC/USD 1-Day Chart on Bitstamp (TradingView)
Opening Price: $8735
Closing Price: $7901
The weekly Loss: 9.61%
Weekly High/Low: $8745/$7432
Litecoin [LTC]
Litecoin has been one of the best performing coins of the week, with an upwards momentum. The market is possibly expecting gains because of the halving event, which is due to occur in less than two months.
The bullish momentum in the cryptocurrency market seems to have cooled down with Bitcoin [BTC] looking down towards a pullback, Litecoin gains have maintained the positive energy in the market.
LTC/USD 1-Day Chart on Bitstamp (TradingView)
Opening Price: $114
Closing Price: $117
The weekly gains 2.6%:
Weekly High/Low: $121/$97.5
XRP
XRP had an exciting week with volatility induced by rumors and speculation. XRP broke above the 0.000054 BTC mark as news of Ripple acquiring MoneyGram started to spread.
Nevertheless, the price held its gains above $0.4. Moreover, the yearly benefits on XRP have been limited this year contrary to its performance and the large community of investors around the world. This has been probably affected by centralized coins being designed by JPMorgan and Facebook.
XRP/USD 1-Day Chart on Bitstamp (TradingView)
Opening Price: $0.44
Closing Price: $0.40
The weekly loss: 9.04%
Weekly High/Low: $0.464/$0.382
Bitcoin SV [BSV]
Bitcoin SV [BSV] continued its gains at the start of the month as it seems to be consolidating at the high above $200. In a week more than a fort-night BSV has gained from $60 to trade above $200. The price was accentuated with another rumor on Satoshi Nakamoto’s identity. While there has been volatility around it, the momentum has been towards the positive.
BSV/USD 1-Day Chart on Bitstamp (TradingView)
Opening Price: $192
Closing Price: $195
The weekly loss: 3.14%
Weekly High/Low: $237/$173
Cosmos (ATOM)
Cosmos has been one of the few cryptocurrencies with limited weekly loss as the positive momentum on it was maintained at the beginning of the month as well.
ATOM/USD 1-Day Chart on Kraken (TradingView)
Opening Price: $6.4
Closing Price: $6.11
The weekly loss: 0.05%
Weekly Low/High: $5.64/$7.2
Binance [BNB] Coin
Binance [BNB] Coin has been trading news the $30 region. The Exchange backed token was one of the best performing coins of the first quarter in 2019, was affected after the Binance Hack. However, the recovery has been consistent as none of the users were affected.
The scale of economy in the cryptocurrency market and the growth of the Exchange has been faring well of Binance coin holders as well.
BNB/USD 1-Day Chart on Bitstamp (TradingView)
Opening Price: $33.1
Closing Price: $31.6
The weekly loss: 4.5%
Weekly High/Low: $33.2/$28
*The percentage dominance of cryptocurrencies w.r.t. to the total market capitalization of the market at $0.5 billion is 0.23%. Hence, for Analysis purpose, we will only consider cryptocurrencies with a total market capitalization $0.5 billion or more. For future analysis, we’ll try to maintain 0.25% as a standard for the calculation.
**The data is taken at around 11: 00 Hours UTC on 9th June 2019. 
The post Crypto-Market Top Weekly Performers: Bitcoin, Litecoin, XRP, Bitcoin SV, ATOM and Binance Coin appeared first on Coingape.
Source: CoinGape

Binance Drive For Crypto Dominance Is Massive For BNB, Adds 1.8%

BNB up 1.8 percent
Changpeng Zhao and the team to launch a Stablecoin

Ambitious, Binance wants to conquer the crypto world. There is a Launch Pad for crowdfunding, is active and now plans of launching a Stablecoin are in progress. While at it, BNB is rebuffing sellers, adding 1.8 percent in 24 hours.
Binance Coin Price Analysis
Fundamentals
Vitalik Buterin is concerned. It’s not about Ethereum or what regulators think of ICOs. The muzzle is on Binance and their role in the crypto ecosystem. In two short years, Binance has bulldozed its way up to be a reliable and secure exchange.
Changpeng Zhao and team abide by blockchain principles, country hoping and seeking for jurisdictions where laws are supportive of innovation and open to new technology. Towards that end, Binance settled in Malta. However, they have a branch in Jersey for trading BTC and ETH against Euros and GBP. Furthermore, they have a presence in Uganda where traders can exchange coins for the Ugandan shillings and other crypto assets.
Because of this, Vitalik says Binance now wields too much power. Changpeng Zhao may be open to criticism. However, his decision to single-handedly obliterate BSV is worrying. Unfazed, Binance is trudging on. This time, their goal is to commandeer the burgeoning Stablecoin turf.
Even though Tether is the undisputed king, Binance says their coin will be backed by alternative fiat currencies apart from the USD to reflect diversity. It Wei Zhou, the Chief Financial Officer of the crypto exchange, said:
“Our business decisions are made with our users in mind. The goal for issuing a GBP Stablecoin is to provide users with more options and more choice; to diversify the Stablecoin assets for the ecosystem. BGBP will be issued on the Binance Chain, which offers an easy and fast way to tokenize.”
Candlestick Arrangements

From the chart, the path of least resistance is upwards. Perched at seventh, Binance coin (BNB) bulls seek to print new highs. Changing hands at $31.76, BNB is up 1.8 percent in the last 24 hours, rewind losses of this week.
Since the trend is up and buyers are in control despite this week’s blips, aggressive traders can buy the dips. It’s easy to see why. There is a double bar bull reversal pattern from $30. Propelling the expansion are high trading volumes.
Even so, conservative traders should wait for a conclusive close above May 30th top at $39. After that, they can tune entries in smaller time frames while targeting $70.
Technical Indicators
Leading this trade plan is May 30th candlestick. It is extensive with high trading volumes of 4.1 million. As a result, any up-thrust confirming bulls of the last five months driving prices above $38 must be with high participation.
Similarly, losses below $30 confirming bears of May 30th must be with high volumes. That will precipitate a sell-off with targets at $25 and $17.
Chart courtesy of Trading View. Image Courtesy of Shutterstock
The post Binance Drive For Crypto Dominance Is Massive For BNB, Adds 1.8% appeared first on NewsBTC.
Source: New feedNewsBTC.com

Binance Goes on Temporary System Maintenance With No Trading Activities

There was a sudden shock, confusion, and fear in the Crypto Twitter community as Binance website became inactive with no trades for over 20 minutes. Some members of the community report that there are no trades shown on the UI when users log in.
Unscheduled maintenance
The Binance team after about half an hour of silence has made an announcement that it is on temporary system maintenance that could last for three hours or more. According to the team, the system automatically shut down after detecting a disk failure to avoid any data loss or corruption. Users funds are completely safe according to the update
However, all deposits, withdrawals, and trading are suspending during this time and uncompleted deposits will be completed when the maintenance is complete. The maintenance started by 20:00 UTC and the team promises to keep the community updated on progress.
Source: Twitter
Everything is back to normal
Binance suffered a hack in May that led to the loss of over $40 million of users’ money. An investigation is still ongoing as to how the hack happened and ways to improve security to avoid such loss in the future. Some Twitter users who are likely Binance customers expressed fears of a possible hack. Some of the responses are as follows:
“It’s to late. We’ve lost it all” – @JaminXBT
“we’re at 27 minutes now And im getting scared” – @kamese0331
A follow-up announcement, however, confirms that the system is back on and no data was lost. Also as promised, no funds lost so the panic can be over finally.

The post Binance Goes on Temporary System Maintenance With No Trading Activities appeared first on Coingape.
Source: CoinGape

Binance Coin [BNB] a perfect example of how cryptocurrencies have changed fundraising, says CFO Wei Zhou

Wei Zhou, Chief Financial Officer at Binance, spoke at the Money 2020 conference and outlined how tokenization has changed the way to raise money. Zhou stated that tokenization has gained traction ever since Bitcoin started going mainstream.
He added that the world had entered a tokenized world ever since Bitcoin gained mainstream attention, which happened over the last few years. Zhou further said,
“I think what we witnessed through the Ethereum blockchain enabled by the ERC20, it has enabled the creation of the smart contract and what has allowed for at least one type of use-case, is basically raising capital on the blockchain.”
ERC20 is one of the most most significant tokens today, considered as a technical standard used for almost all smart contracts on the Ethereum blockchain for token implementation.
Additionally, Zhou said that ERC20 tokens have not only allowed for users to raise capital on the blockchain, but it has also led to the development of many types of tokens like the utility token, security token, and payments token. Further, Binance Coin is one such utility token that serves multiple use-cases, one of them being a 50% off when trading.
Zhou added,
“We have more tokens in the world and that is something that did not exist in the world prior to the ERC20 chain, and what that has allowed companies to do is to use a different form of fund raising.”
Unlike the traditional way of raising capital, cryptocurrencies have changed the way to raise a token, Zhou said, adding that Binance Coin was a perfect case study for the same.
Binance Coin was an ERC20 token previously, but it has since migrated to its own chain and has allowed Binance to conduct one of the most successful IEOs in the cryptocurrency ecosystem. Projects that have migrated have seen a massive surge in trading volume of their respective tokens.
Binance Coin has been the best performing asset in 2019 so far. It has surged by over 350% since the start of the year, and is currently sitting as the seventh largest cryptocurrency on coin charts.
The post Binance Coin [BNB] a perfect example of how cryptocurrencies have changed fundraising, says CFO Wei Zhou appeared first on AMBCrypto.
Source: AMB Crypto

Binance Coin [BNB] can now be bought using Visa and MasterCard as BNB’s price rises

The Changpeng Zhao-led Binance and its affiliates have had a great 2019, with multiple developments and upgrades. The world’s largest cryptocurrency exchange got another boost recently after it announced that Binance’s own Binance Coin [BNB] could now be traded using Visa and MasterCard.
The organization claimed that the addition of BNB in the Visa/MasterCard roster meant that the seventh largest cryptocurrency on the charts joined Bitcoin [BTC], Ethereum [ETH], Litecoin [LTC], XRP and Bitcoin Cash [BCH]. Visa and MasterCard’s partnership with BNB was a landmark achievement because of the integration of a mainstream organization with its cryptocurrency counterparts.
The latest feature led many fans of Binance to speculate that “Coinbase is done!” and that the MasterCard/Visa involvement was an important breakthrough. Bitcoin Birch, a BTC proponent added,
“For the “don’t buy crypto on credit card” people – yes, don’t do that. However, keep in mind that Visa and MasterCard also issue Debit cards.”
Binance followed the footsteps of Coinbase, its biggest rival, after it teamed up with Visa in April to launch the Coinbase Card. Coinbase’s blog had stated,
“This is the first debit card to link directly with a major cryptocurrency exchange in the UK and EU, allowing users to spend their crypto balances direct from their Coinbase account”
Binance was also in the news recently when it launched the Great Britain Pound [GBP]-backed BGBP, on the Binance Chain. According to sources, CZ had already “issued” its stablecoin, which might lead to positive effects on Binance Coin’s price. CryptoBatman, a cryptocurrency proponent, also tweeted about the addition, tweeting,
“BIG NEWS!
It looks like @Binance has issued their Stable Coin $BGBP on Binance Chain!
It’s incredible how fast Binance moves. I can’t say enough how big this is for Binance and Binance Chain.
Expect $BNB to skyrocket from here!”
The latest announcement may also have contributed to BNB’s sudden surge in prices on the cryptocurrency charts.
The post Binance Coin [BNB] can now be bought using Visa and MasterCard as BNB’s price rises appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin Price Lost $700 and Dropped Below $8,000 in Just a Couple of Hours

Coinspeaker
Bitcoin Price Lost $700 and Dropped Below $8,000 in Just a Couple of Hours
In just a couple of hours, Bitcoin price fell below $8,000. Some traders believe that it happened due to some market manipulations performed by a BTC whale.
Bitcoin Price Lost $700 and Dropped Below $8,000 in Just a Couple of Hours

Continue reading at Coinspeaker
Source: CoinSpeaker