Tron Based ‘Stable Coin’ to Start Trading At Huobi and Okex Exchange

Okex and Huobi Global have added support for USD Tether pegged to the US Dollar built on Tron. Tron Foundation built the ‘stable coin’ collaboration with Tether. Currently, the two Exchanges support three stable coins markets USDT-Tron (TRC20), USDT-OMNI, USDT-ERC20 (Ethereum). The token will be launched on 30th April 2019 on the Okex and Huobi Global Exchanges.
According to the press release by Okex:
In order to meet users’ demand for stablecoin trading, OKEx will support USDT-TRON, the TRC-20 based USDT token co-developed by TRON and Tether, as well as the airdrop for USDT-TRON holders.
…It has a TRON deposit address and uses the TRON network for depositing and withdrawal.
Rewards for Early Adopters and Tron’s Growth
The annual percentage return (APR) of the USDT-TRON token has been designed to give out rewards for its early adopters. The initial APR is 20% which will, however, reduce with time. Nevertheless, the program is supposed to roll out investments for a total of 100 days. The total amount of incentives will be $20 million. The incentives will be rewarded in USDT-TRON only.
Justin Sun has implored the users of the Exchanges to adapt to swap from USDT-OMNI – USDT-TRON.

#Hodl USDT-TRON to earn initial 20% APR in USDT-TRON. 100 day campaign. $20M initial budget no hard cap. Just sayin'. 😎 $TRX $BTT pic.twitter.com/jyo7QcrtbE
— Justin Sun (@justinsuntron) March 21, 2019

The Stable coin will be available on major exchanges, and the reward programs are lucrative. Therefore, the number of transactions on the Tron Network would increase significantly. Tron has built a vibrant ecosystem for Dapps and issuing digital asset. The move will foster the growth of Tron. It will also help the exchanges take advantage of the transaction capabilities of Tron which is considerably cheaper than Ethereum currently.
The returns proposed by ARP are highly lucrative. Will you swap your stable coins to earn the rewards? 
The post Tron Based ‘Stable Coin’ to Start Trading At Huobi and Okex Exchange appeared first on Coingape.
Source: CoinGape

TOP Network is Chosen as the First Project to Launch on Huobi Prime

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TOP Network is Chosen as the First Project to Launch on Huobi Prime
The official launch of Huobi Prime is scheduled for March 26. It has been announced that TOP Network will be the first project listed.
TOP Network is Chosen as the First Project to Launch on Huobi Prime

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Source: CoinSpeaker

Cryptocurrency Exchanges With Derivatives in 2019: Exclusive Comments From 4 Industry Executives

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Cryptocurrency Exchanges With Derivatives in 2019: Exclusive Comments From 4 Industry Executives
Michael Budkov, marketing specialist, financier, and writer, shares exclusive comments from the representatives of four cryptocurrency exchanges that support derivative contracts and reflects on the market trends likely to develop in 2019.
Cryptocurrency Exchanges With Derivatives in 2019: Exclusive Comments From 4 Industry Executives

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Source: CoinSpeaker

Ripple’s XRP Makes Another Step Forward Going Live on Huobi OTC

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Ripple’s XRP Makes Another Step Forward Going Live on Huobi OTC

The over-the-counter branch of cryptocurrency exchange Huobi has announced adding support of XRP. XRP trading was launched on March 6.

Ripple’s XRP Makes Another Step Forward Going Live on Huobi OTC

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Source: CoinSpeaker

TrustToken Customers Can Soon Check the Status of TrueUSD Market in Real Time

CoinSpeaker

TrustToken Customers Can Soon Check the Status of TrueUSD Market in Real Time

The new feature for TrueUSD users will be available through the real-time dashboard developed independently by Armanino. The launch is set to take place in April.

TrustToken Customers Can Soon Check the Status of TrueUSD Market in Real Time

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Source: CoinSpeaker

TradingView Lists Its First Crypto Index, the Huobi HB10

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TradingView Lists Its First Crypto Index, the Huobi HB10

The Huobi HB10 crypto index tracks a number of top digital currencies based on their market cap and liquidity.

TradingView Lists Its First Crypto Index, the Huobi HB10

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Source: CoinSpeaker

Ethereum’s Constantinople and St. Petersburg Hard Forks Have Been Activated

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Ethereum’s Constantinople and St. Petersburg Hard Forks Have Been Activated

After two delays, the Constantinople and St. Petersburg hard forks have finally gone live. With this release, four different Ethereum improvement proposals (EIPs) have been officially activated.

Ethereum’s Constantinople and St. Petersburg Hard Forks Have Been Activated

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Source: CoinSpeaker

BitTorrent Token Airdrop Takes Off Today, Here’s What We Know About It

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BitTorrent Token Airdrop Takes Off Today, Here’s What We Know About It

Tron will start distributing its BitTorrent Token in airdrops, to its TRX holders through the Binance Launchpad platform. The Tron Foundation plans to airdrop tokens for the next six years up to February 2025.

BitTorrent Token Airdrop Takes Off Today, Here’s What We Know About It

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Source: CoinSpeaker

Chinese Cryptocurrency Exchange Finds Reverse Merger as Route For IPO

Yet another crypto trading platform has joined the rally of the reverse merger – and it is the parent company of OKCoin Exchange, OKC Holdings Group. Following the acquisition of Hong Kong-listed firm, Leap Holding Group OKCoin seeks to enter the Hong Kong market. With ownership of 60.49 percent of its stock, the exchange is likely to enter Hong Kong Stock Exchange (HKEX) soon ahead of IPO request approval of major bitcoin mining rig makers.
The news first broke out when OKCoin founder, Mingxing “Star” Xu bought $60 million shareholders in HongKong listed ‘Lead Holding Group’. And technically, Xu holds 52.32 ownership in OKC Holdings via his two firms Star Xu Capital and OKC Service Company which have made him the largest shareholders of the public listed firm. Lead Holding Group is primarily a Caymans Island-incorporated construction engineering firm that is already listed under Hong Kong Stock Exchange.
Below is the screenshot of agreement deed – visit here for details

Regulations in Hong Kong have been hesitant towards the IPO, requested by major Bitcoin mining firms including Bitmain Technologies, Canaan Creative and Ebang International Holdings. Following the setbacks from the Hong Kong regulators, the ownership of this kind in already public-listed firm become the back door to enter the market and enjoy potentials.
The move comes in the midst of Bithumb’s initiative of a binding letter of intent (IoT) agreement with US-listed Blockchain Industries. Following the reverse merger, these exchanges are quick to enter the respective market ahead of IPO.

@BithumbOfficial Leading Crypto Exchange to Enter US Market following Reverse Merger Techniquehttps://t.co/bycIuifSGc#Bithumb #CryptoExchange #Crypto #Cryptocurrency #CryptoNews #USA #BTHMB #IPO
— CoinGape (@CoinGapeMedia) January 23, 2019

Beside Bithumb and OKCoin, the reverse merger has already been employed by other exchanges and known personalities of the crypto market. As such, during August 2018, a Singapore based Huobi acquired 66.26 percent in Pantronics Holding which is an HKEX-listed firm. Moreover, Michael Novogratz, a Bitcoin billionaire, and investor also applied the similar technique in July 2018. His move counted with the merger agreement to acquire Toronto-listed shell company Bradmer Pharmaceuticals by Galaxy Digital Crypto merchant bank to enter into the Canadian market.
What do you think on the reverse merger over IPO as a way to enter into market? share your opinion with us
The post Chinese Cryptocurrency Exchange Finds Reverse Merger as Route For IPO appeared first on Coingape.
Source: CoinGape

Chinese Crypto Exchanges Seek Backdoor Listings in Hong Kong

As the bear market continues with no signs of a change in trend crypto exchanges and mining giants in China seek ways to stay afloat. One method which has been increasing is a reverse merger in Hong Kong as IPO hopes fade.
Reverse Mergers Becoming The Easy Route
Hong Kong regulators are growing increasingly wary of Chinese crypto firms trying to get listed to avoid the digital blackout in their own country. According to the SCMP, citing ‘people familiar with the matter’, chief executive of the Hong Kong Exchanges and Clearing, Charles Li Xiaojia, said companies seeking to go public should show consistency in their business models. The comments are in direct reference to media comments on high profile IPO plans from Bitmain, Canaan and Ebang, though he did not mention them specifically.
It appears that reverse mergers are becoming a popular way to get listed without going through the IPO process which can be lengthy and arduous. As recently reported by NewsBTC Singapore’s Blockchain Exchange Alliance has attempted a similar technique for its majority owned Korean exchange Bithumb by buying out a US publicly listed blockchain company. If Bithumb, currently the top crypto exchange by reported volume at $1.3 billion, did get listed in the US it would be the first crypto exchange to do so. Mike Novogratz did something similar with Galaxy Digital on Canadian markets after a reverse merger with publicly listed shell company Bradmer Pharmaceuticals.
Last week OKC Holdings Corp, the parent company of OKCoin, bought a controlling share in Hong Kong-listed construction engineering firm Leap Holdings Group. The reverse merger allows the crypto exchange to get a ‘back door listing’ without going through the IPO procedure.
Chinese cryptocurrency exchange Huobi has made a similar move when it purchased a 66% stake in Hong Kong listed Pantronics Holdings in August last year. These reverse mergers have become the method of choice to get a relatively easy listing in the wake of tumbling profits as the bear market drags on. Cryptocurrency analyst with Beijing-based research firm Symbt, Xiao Lei, said;
“Hong Kong is one of the easiest markets for reverse IPOs, because there are many small-cap stocks,” before adding “It did not go well for hardware manufacturers like Bitmain to go public, what more for companies directly dealing with cryptocurrency trades,”
The year-long crypto bear market is showing no signs of abatement and if industry analysts are correct there is more pain to come for cryptocurrencies and blockchain companies.
Image from Shutterstock
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Litecoin (LTC) Contracts Launching on Huobi’s Derivative Market in Less than 24 hrs

Litecoin is the fourth digital asset added to the Huobi’s Derivatives Market after Bitcoin, Ethereum, and EOS. Litecoin contracts will be launched on January 25 at SGT 18:00 p.m. Last month, amidst the declining trading volume on various exchanges, Huobi DM claimed a whopping $1 billion in trading volume.
LTC Contracts Coming Tomorrow
One of the biggest crypto exchanges by market cap of about $285 million as per Coinmarketcap, Huobi is now launching Litecoin Contracts on its Derivatives market on January 25 that is less than a day away.
The exchange took to Twitter to share the news,

Huobi’s latest contract for the digital asset Litecoin is based on LTC/USD index that covers price LTC from four exchanges viz. Bitstamp, Gdax, Kraken, and Huobi. Each of these exchanges has 25 percent share in the index. With price quotation unit point and contract multiplier 1 USD/point, the minimum price change is 0.001 point.
These Litecoin contracts are of three types, weekly, bi-weekly, and quarterly with a face value of 10 USD. The minimum margin provided by Huobi for 1x leverage is 10%; for 5x it’s 20%; margin for 10x leverage is 10%, and for 20x leverage, it’s 5%.
Users are allowed to trade till the last 10 minute before the delivery but only to close positions. As for the delivery date, it’s 16:00 pm (UTC + 8) of the Friday before the contract expiration week.
The fees rate for open positions maker is 0.02% and for taker, it’s 0.03 percent. Same fees apply to close position maker and taker. Meanwhile, the delivery fees rate is 0.05 percent while the contracts will be settled in digital asset price difference.
Other Altcoins Contracts in the Pipeline
Huobi has already launched the contracts of Bitcoin, Ethereum, and EOS. Back in December 2018, the daily traded volume of cryptocurrency contracts on the Derivative Market of Huobi registered more than $1 billion just after a month of its launch.
This platform allows traders to trade the digital asset contracts with the purpose to speculate, arbitrate, and hedge. Now, Litecoin is the fourth digital asset in this list and others are expected to get added soon as the Litecoin contracts announcement further states, “Huobi DM will launch other altcoins contracts successively, please stay tuned.”
While the trading volumes across different exchanges are taking a substantial hit, Huobi has launched its derivatives market with four of the top cryptos that according to the Huobi Global’s CEO Livio Weng allow the market participants to control risks in a volatile trading climate.
The post Litecoin (LTC) Contracts Launching on Huobi’s Derivative Market in Less than 24 hrs appeared first on Coingape.
Source: CoinGape

Top 5 Crypto and Blockchain Events We’re All Waiting for in 2019

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Top 5 Crypto and Blockchain Events We’re All Waiting for in 2019

While that the cryptocurrency industry is going through a very rough phase, here are the five events expected to set the growth trajectory of the crypto market in 2019.

Top 5 Crypto and Blockchain Events We’re All Waiting for in 2019

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Source: CoinSpeaker

Binance, Huobi and More Announce Support of the Upcoming BitTorrent Token (BTT) Airdrop

CoinSpeaker

Binance, Huobi and More Announce Support of the Upcoming BitTorrent Token (BTT) Airdrop

The BTT airdrop program is set to start on February 11, 2019, and will continue until 2025, with allocations dispersed yearly. It has already received support from Binance, OKEx, Huobi, and other exchanges.

Binance, Huobi and More Announce Support of the Upcoming BitTorrent Token (BTT) Airdrop

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Source: CoinSpeaker

Huobi Exchange Remain Profitable – CEO Claims, Amid Bear Market & Lay Off

Huobi exchange which has announced the lay off for almost 50 percent of its staff is still profitable. The chief executive of Huobi Global, Livio Weng Xiaoqi claims that the firm’s valuation is profitable every month.
Turning Profits Amidst Layoffs and FSA Licencing
During an interview, Weng in his Beijing office discusses how Houbi is still worth profiting regularly. Although the figures for profit is a matter of secret but Weng credits ‘transaction fees’ as the main source of earning for exchange. He said that;
“We do not know how long the bear market will last, so it is still possible that we will struggle to survive. We have to plan in advance and spend money carefully.”
Huobi global, the main exchange business is reportedly contributing as much as 70 percent of its total revenue. As per the data from Coinmarketcap, the exchange valued the average trading volume of $256,282,917, plunged to the eighth position by losing 25.43 percent during 24hrs.
Source: CoinMarketCap
Regulated Crypto Exchange 
Despite the strict regulatory compliance, Huobi exchange intends to reach millions across the world. Significantly, Huobi on 17th Jan 2019 has acquired a license from FSA (Financial Service Agency) to capture the Japanese market. By acquiring the license, the exchange is now a fully licensed platform in Japan. Interestingly, the firm is also merged with BitTrade exchange which was one of the 17th exchange receiving the license from FCA. Following the acquisition, BitTrade’s existing customers are expecting to have new account with Huobi Japan and to undergo with KYC process as well. Haiteng Chen, Huobi Japan CEO says;
“We’re looking to continue to grow our presence here while offering top-notch digital asset trading services in Japan.”
Huobi’s mission of capturing the global market is likely the reason why it wants to be a fully licensed firm across the various countries. Notably, until now, it has obtained the license in USA, Japan, and Europe. In a similar context, Weng reveals that Huobi’s major audience is Chinese who live outside of China. Accordingly, he says that 70 percent of Houbi’s customer who is Chinese uses VPN service. He notes that,
 “Our greatest advantage over competitors is that we have licenses in all major countries – we are the only one among top global exchanges,”
Besides operating as a crypto exchange, Huobi is also exciting the people interested in future trading. Accordingly, in late 2018, it has launched the ‘derivative trading platform’ in competition to OKEx and BitMEX exchange. As on Jan 17, 2019, Huobi Derivative Market marks more than $20 billion as per the reports. Further, the achievement co-relates the company’s believe of catering to customer’s requisites. Livio Weng says that;
“I believe this explains our platform’s explosive growth, even in the midst of the ongoing bear market,”
The post Huobi Exchange Remain Profitable – CEO Claims, Amid Bear Market & Lay Off appeared first on Coingape.
Source: CoinGape

Will Crypto Exchanges be Able to Survive The Brutal Crypto Winter?

Only the fittest will survive, or so the saying goes. This mantra does not only apply to the animal kingdom, it works in the business world also and surviving is what a lot of crypto exchanges and companies are struggling to do as the bear market enters its second year.
Global Expansion Success For Huobi
The larger crypto exchanges have a better chance of weathering the storm. Downsizing may be inevitable but their large client base should keep them afloat until the crypto winter abates and markets turn around again. Huobi is one of the big players but it has gone from awarding its senior executives multi-million dollar bonuses in Bitcoin to axing staff a year later.
According to the SCMP Beijing based Huobi Group is still turning a profit despite trade volume shrinking to a tenth of what it was a year ago. CEO of Huobi Global, Livio Weng Xiaoqi, said that transaction fees make up the bulk of profits adding; “We do not know how long the bear market will last, so it is still possible that we will struggle to survive. We have to plan in advance and spend money carefully.”
Huobi’s daily trade volume was well over two billion dollars a year ago, today it has shrunk to just $318 million according to Coinmarketcap. Reported volumes on exchanges vary hugely though so all figures must be eyed warily. What is indisputable though is that volumes and profits are way down along with crypto markets themselves.
Venture funding and news aggregation are loss leaders for Huobi and this is where it is making cuts while still expanding its core business. Weng added that the recent closure of its Shenzhen research subsidiary and downsizing of its Huobi Info news app has resulted in the loss of around 100 positions. Huobi still employs over 1,300 people globally however and was the top crypto exchange at one point.
Huobi’s success is its global reach, with over 70% of its customers being Chinese who live outside of China, or use VPN’s, it has access to a huge and growing market. “Our greatest advantage over competitors is that we have licenses in all major countries – we are the only one among top global exchanges,” Weng added.
Conversely Binance has pulled out of Japan and will not deal with the US due to increasing regulatory pressure a less than positive stance from the government. Huobi has operations in both of these countries and Europe where crypto to fiat trading licenses have been obtained. Its key to survival at the moment is the predominantly Asian client base which is still very hungry for crypto in spite of the ever present bears.
Image from Shutterstock
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