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Chainlink (LINK) price analysis July 12, 2019: Stuck in the sideways trading

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Chainlink is trading at $3.1 as we write this and it holds the 17th spot by market capitalization, according to coinmarketcap.com. LINK had a good day, but a worse week as it has gained the value by 2.79% while own by 13.6% respectively.

As we write this, the coin seems to be stuck in sideways trading. But despite the losses, it’s had recently the technical indicators are green, which is quite rare. But let’s not go by subjective opinions. Let’s see the monthly and daily technicals to find out if we can learn something interesting about LINK’s market behavior.

24-hour market technical analysis

The first support level is at USD 2.95, which means it’s not that far from the current price. Since the coin seems to be going up at the moment, this support level could not be tested very soon, in the next few minutes or hours.

But we don’t foresee any significant trends around the corner because the trading volumes are basically inexistent.

Chainlink Link price chart
Source: CoinMarketCap.com

The first resistance level is at USD 3.59. It’s unlikely to be tested any time soon, but the cryptocurrency market can change drastically at any minute.

But here’s the kicker: every single technical indicator is for the bulls. Most moving averages are also for the bulls (9 out 3).

So what to make of the daily scenario? Well, it could be signaling for an excellent opportunity to buy very cheap when you can. But we shouldn’t draw any conclusions without looking at the monthly technical analysis first.

Monthly technical analysis

The monthly numbers make more sense. In the monthly, the price is above the pivot point (2,94). That is usually interpreted as a sign that the bulls are in. The first resistance level is at USD 5,03, which is very far away from the current price. So those numbers alone signal that LINK should stop losing value soon and go up to test the first resistance level.

There is one technical indicator signaling for the bears, but every other one is for the bulls, and every moving average is also bullish.

So, again, the numbers are signaling to buy, but in this scenario, it’s easier to understand why.

Outlook

It’s a confusing day in the LINK market.

It’s been losing value for a full week already. That could mean that this is a great chance to buy cheap. It could also mean that it is trending down and you should stay away. And it’s tough to decide which is the right option because it’s been trading sideways for a long time already.

All that being said, the trading volumes are very low, and when they’ve happened, they’ve been bearish. So maybe this is an excellent day to stay far away from LINK until a clear trend appears.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

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Ripple (XRP) is down by 7.56% for 2019, while other cryptos are up 100%. Here’s why

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Is Ripple Selling XRP the Reason Behind XRP’s Declining Performance?

According to the latest findings, top cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), EOS, Binance Coin (BNB) and other cryptocurrencies are blooming with approximately 100% growth on a yearly basis whereas XRP is plummeting at 7.56 percent.

https://twitter.com/xrp_news/status/1149500667595116546

However, the reason behind the downfall is still unclear, but according to some beliefs within XRP community, it is quickly revealed that few think it is due to “Company (Ripple) selling massive amounts of XRP.” In fact, according to the reports, Ripple has sold $890 million of XRP wherein 34.4% was sold to the crypto exchanges and 65.6% to the institutions.

XRP sales report
Credit: The Block

Moreover, it was mentioned that the company has sold the highest amount of XRP ($169.42million) in Q1 2019. This seems to be the first highest sum in XRP that Ripple has ever sold.

XRP sales by year
Credit: The Block

XRP and Hack Incidents

To remind, XRP has seen quite adverse movements in the crypto industry this year. During June alone, a vast amount was stolen in hack incidents. In early June nearly $10 million in XRP were stolen from cryptocurrency wallet service GateHub. Accordingly, hackers got access to around 100 XRP Ledger wallets.

Besides, at the end of the same month, a Singaporean crypto exchange, Bitrue had suffered a significant hack incident. During the hack, the exchange suffered a loss of about 9.3 million XRP, which quickly affected the price of XRP on the graph of Coinmarketcap.

Besides that, as TronWeekly reported today, a Japan-based licensed crypto exchange, Bitpoint has been hacked for $32 million in XRP, and other cryptocurrencies. Bitpoint confirmed the report on Friday (today) after suspending all its services including trading, deposit, and withdrawals of all crypto assets.

Ripple's XRP price today
Source: CoinMarketCap

It’s worth to note that the current price of XRP is still down from its ATH of this year. At the time of reporting, XRP is quickly gearing up with 3.76 percent over the past 24 hours and counting its trading value at $0.34 against US Dollar. Moreover, being the third-largest cryptocurrency, Ripple’s native cryptocurrency’s current trading volume stands at $14,690,027,178.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

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$32 Million siphoned from Japanese crypto exchange Bitpoint in the latest hack

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Tokyo based cryptocurrency exchange operator Bitpoint has suspended all its services following a loss of about 3.5 billion Japanese Yen in a system compromise that involved Ripple and other cryptos. The licensed crypto exchange platform has been hacked 32 million USD worth of crypto assets.

According to information reaching our desk, Bitpoint Japan Co. has halted all its services that involve depositing, trading and withdrawal of all virtual currencies earlier today after the management noted irregular withdrawals from its accounts on Thursday.

Although it’s not yet clear at the moment which types of assets were siphoned, the crypto exchange is said to have lost about 2.5 billion Yen (25 million USD) from customer accounts and 1 billion Yen (9.2 million USD) from the exchange’s deposit account.

While the exchange offers to trade for five virtual currencies: Ripple (XRP), Litecoin, Bitcoin, Ether, and Bitcoin Cash, it is not yet clear what crypto assets suffered what percentage of thuggery. Experts looking into the matter have come out to say the crypto exchange suffered the attack at around 10:39 pm on Thursday.

In an announcement to the public, Bitpoint’s mother company Remixpoint Inc. issued a statement saying the 23 million USD of the illegal withdrawals belonged to its customers.

The crypto company added,

“We want to assure our customers that we are working round the clock to ascertain the cause and the identity of the illegal withdrawals to minimize damages.”

The Japanese crypto exchange, Bitpoint, is registered on Tokyo’s Second Section Stock Exchange. At the moment, the exchange is working tirelessly to apologize and assure its customer of compensation for any damages that might have incurred.

Following the news of the hack, Remixpoint Inc. continues to suffer as the company’s share prices record a plummet of 18.6 percent.

The system compromise is not unique as it marks the latest incident in a string of similar cases the Japanese market has been experiencing at their crypto exchanges.

In 2018, Coincheck, another Japan-based exchange, halted all its withdrawal and deposit operations for crypto assets after it was compromised. The hack resulted in the loss of crypto assets worth 500 million USD at the time.

Similarly, in 2014, Japan-based MtGox cryptocurrency exchange was forced to shut down its operations after 850,000 BTC worth 500 million USD at the time went missing from its virtual wallets. At the time, MtGox handled close to 80 percent of all Bitcoin BTC transactions in the world.

The increasing crypto exchange hacking incidents are prompting Japan’s Financial Services Agency to play a more significant role in supervising cryptocurrency exchanges. Even after the involvement of the agency, critics remain skeptical towards the security of crypto exchanges.

Today’s Bitpoint system compromise records this year’s 6th system breach by hackers. According to research, the total amount of crypto assets that have been siphoned from crypto exchanges since inception stands at about 1.4 billion USD.

How can Crypto Exchanges Protect Customer Assets Against Hacks?

Communication between crypto exchanges is vital in fighting with this cumbersome vice that is increasing in frequency. Since hot wallets are vulnerable to system compromises, it is of the extreme importance crypto exchanges device a communication line between themselves to mitigate suspicious operations. By establishing a good communication line between themselves, crypto exchanges will be able to trace, freeze, and stop suspicious transactions that are on the move.

Since funds are usually transferred from one exchange to another during hacking, establishing excellent communication will be vital in fighting this vice. A working communication system will make it possible to suspend virtual vaults that receive hacking proceeds swiftly assisting in the recovery of funds.

For instance, in January 2018, four of the largest crypto exchanges in South Korea created a hotline between themselves to assist them in communicating, detecting, and freezing immediately suspicious transactions. The four crypto exchange are Upbit, Korbit, Coinone, and Bithumb.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

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Ripple Price Analysis: XRP is Rolling Back to the 2018 Bear Zone

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  • Ripple’s XRP is likely to run a bearish retracement before the rally continues
  • XRP price is nearing the long-term falling trend-line (yellow in the chart provided below) with a possible bounce
  • Technical indicators turned bearish following the significant price reduction in the market

The past few days, trading has made the Ripple coin market to see a severe price reduction, which paints an ugly scenario as a result of enormous selling pressure in the market. As a matter of fact, the cryptocurrency had been down by 38% over the past 20 days of trading.

Today, the market has quickly recovered back by 3.50% under 24-hours of trading – this shows a little commitment from the bull sides. More price gain can be expected if the bulls continue to step into the market. If they fail, the bearish rally will become more significant and severe.

Ripple’s Current Statistics

Trading Price: $0.34

Market Capitalization: $14,648,226,948

Trading Volume: $1,974,658,251

Key Resistance Levels: $0.35, $0.37, $0.40

Key Support Levels: $0.31, $0.3, $0.283

Ripple Price Analysis

Over the past few weeks, we have seen the rollercoaster (parabolic) movement of Bitcoin and how it shapes the direction and pattern of other top cryptocurrencies in the entire crypto economy.

But the story has been the other way round against BTC trading. While other best-performing coins enjoy the ride against USD, Ripple’s XRP has suffered a bearish action on both the USD and BTC pair over the past weeks.

XRPUSD Daily Price Chart July 12

Now, the cryptocurrency had clearly signaled another bearish phase after breaking down a two weeks channel pattern on Wednesday. In a short time, the XRP price may drop to the critical support at $0.3 if the supply remains heavy. Meanwhile, close-by support lies at $0.31. A possible break at the $0.3 support could fall the mark back to the April low of $0.283 – A complete bearish condition.

As we can now see on the price chart, XRP volume is dropping, and that could amount to more selling pressure in the market. However, the market seemed to have located support at around the $0.31 area. If the bulls can sustain the market above this price area, we can expect buying pressure towards the $0.35 and $0.37 resistances, retesting the channel support. A further rise could bring trading back within the channel boundary, testing $0.4 resistance.

Conclusively:

It’s imperative to keep an eye on the mentioned key levels for Ripple (XRP), especially the $0.3 support for a complete bearish confirmation and the $0.4 resistance which might welcome the bulls back in action. As of now, the market is wildly bearish.

Ripple’s Technical Indicator Reading

MACD moving average has recently crossed to the negative zone as it produced more bearish histogram alongside – the sign for a more bearish scenario.

RSI is now revealed low as it meets reliable long-term support at the 30 level – an indication for a hefty sell-off in the market. If it turns hugely oversold, the price of Ripple’s XRP will fall below the crucial level of $0.3.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

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Tron CEO Justin Sun responds to Donald Trump’s anti-bitcoin stance

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Around 8:15 p.m. EST, US President Donald Trump bashed at the hottest trend of money, the Bitcoin and other cryptocurrencies. Following his bitter tone for crypto, Justin Sun, Tron CEO, invites Trump to join him and other crypto leaders at Buffett lunch with Warren Buffett, to be held on July 25, to understand the cryptocurrencies better.

Donald Trump Slams Bitcoin, Libra, and Cryptocurrencies

The 45th US President, Donald Trump said he’s not a fan of Bitcoin and says Facebook’s crypto must follow all banking regulations just like other banks. Trump’s comment hints the severe concern of global regulators over Bitcoin and Facebook’s entry into the crypto industry.

In a series of Tweets, Presides railed against Bitcoin, Libra, and other cryptocurrencies, citing USD as a real currency in the USA which is stronger than ever. All three tweets read as follows;

“I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity…

“…Similarly, Facebook Libra’s ‘virtual currency’ will have little standing or dependability. If Facebook and other companies want to become a bank, they must seek a new Banking Charter and become subject to all Banking Regulations, just like other Banks, both National…

“…and International. We have only one real currency in the USA, and it is stronger than ever, both dependable and reliable. It is by far the most dominant currency anywhere in the World, and it will always stay that way. It is called the United States Dollar!”

On one hand, it hints the severe deliberation of regulators on crypto for the long term – on the other hand, it invites criticizing comments from the crypto community. Few prominent leaders of the crypto community, including Shapeshift CEO “Erik Voorhees” expressed his annoyance on Trump’s statement. He said,

“Unlike children, Mr.President. you can’t put Bitcoin in a cage.”

Justin Sun Invites Trump to Buffett Lunch

But at the center of Trump’s firing tweet on Bitcoin & Libra, there’s Justin Sun, CEO of TRON who excitedly took to Twitter and invited Trump to have lunch with crypto leaders along with Warren Buffett. The long-awaited Buffett lunch is just two weeks away from today and Sun strongly bet, if Trump joined him in Buffett lunch, “nobody will know crypto more than Trump.”

Its worth to note that – so far, Tron CEO has invited executives of only three companies for Buffett lunch – Binance, Huobi, and Litecoin.

As far as Trump’s tweets are concerned, it came in the wake of Trump’s Social Media Summit at the White House, which was a closed-door conference. Notably, during the event, President Donald Trump accused Facebook and Twitter of censoring him and conservative commentators. Moreover, it’s essential to note, Calibra’s CEO David Marcus will soon be discussing the company’s plans for Libra and privacy concerns in front of a Senate committee.

Of course, it will be interesting to see how Trump responds to Tron CEO. Also, even negative publicity is sometimes what one thing needs, maybe Trump raising his voice against Bitcoin and crypto, in general, would make more people search and learn about it. So, this all could probably turn out to be a positive thing for the crypto sphere in the long-run.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

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Tron Price Analysis: TRX Trades Below $0.03 after Bears Show-up

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  • Price actions may remain in the channel boundary if the bulls show strong interest
  • MACD indicator attempts to break low as more bleeding lies ahead for the market
  • TRX is now trading below the $0.03 following a bearish break

Following a rising channel formation, Tron’s price has dramatically dropped to the low of $0.028 after plunging from the $0.045 high on June 26. However, the price drop is estimated by 45% over the past 15 days of trading and by 12.5% over the past 24-hours of trading as a result of selling control in the market. A bullish regroup might set a rebound in the market. As of now, the bears are dominant.

Tron’s Current Statistics

Trading Price: $0.02805

Market Capitalization: $1,871,665,658

Trading Volume: $701,954,750

Key Resistance Levels: $0.03, $0.035, $0.04

Key Support Levels: $0.025, $0.02, $0.0178

Tron Price Analysis

The current surge in volatility in the market has brought the TRX trading below the psychological support turned resistance of $0.03 as the token now trades at around $0.028 as of the time of writing.

Tron TRX Daily Price Chart July 11

Despite the bearish action, Tron has now met a price rejection at the channel support boundary. However, the sellers are now pretty active as they take charge of the price action.

If the sellers continue to reinforce pressure, below the channel boundary, we can then expect selling pressure to near-by support at $0.025. A break on this support may significantly floor price at the $0.02 – another critical level for the bears to see the April low of $0.0178.

Now that Tron/USD is following a bearish sentiment, at the same time, it’s essential to consider a potential reversal for this pair. The psychological resistance of $0.03 could provide a level for a retracement. From this resistance level, a bullish surge might escalate the price of TRX up to $0.035 and $0.04, near the channel resistance boundary.

Additionally, the token’s volume is decreasing on the price chart due to the current decline in the market. Therefore, we can expect more selling if Bitcoin’s price continues to drop.

Conclusively:

The price of Tron will continue to fall until the bears exhaust momentum; by then, the bulls can regroup and show a strong commitment to power the market in an uptrend. However, TRX trading is positioned in a downtrend. It is vital to keep the trend for now.

Technical Indicator Reading

MACD reveals that the TRX market is still in a positive zone after a significant downward movement. Now, it’s attempting to cross under the zero level. A successful breach will send the token to a more severe bearish condition.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

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CEX.io lists Tron’s Tronix (TRX) and BTT

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Cex.io is announcing the listing of two Tron-based cryptocurrencies. One is, of course, Tron’s Tronix (TRX) and also BitTorrent Token (BTT). Both coins have the common objective of achieving web decentralization. The announcement means that the following trading pairs will be available for trade at Cex.io: TRX/USD, TRX/EUR, TRX/BTC, BTT/USD, BTT/EUR, BTT/BTC

Tron: The project, protocol, technology, and primary features

Tron is very well known in the blockchain world. It’s an open-source protocol that went online during 2017. It’s a third-generation blockchain network. That means the blockchain is not all about a cryptocurrency (as it is with Bitcoin, for instance) but about a programmable platform that can support the development and deployment of decentralized applications and smart contracts.

Tron aims to decentralize the world wide web using its own blockchain network backed by its native digital asset, Tronix (TRX). It’s already the most effective dApp platform in the world as it hosts an increasing quantity of scalable dApps.

Tron’s transaction speed is remarkable. It can deal with 2.000 transactions every second, which makes it one of the quickest blockchains in the industry.

Tron’s scalability allows for the support of a massive number of users. It also enables developers to bring their projects into the network and take advantage of the large (and bullish) user base the network enjoys.

The network works at meager costs for both users and developers. That feature allows for new users to join more efficiently, which is one of the reasons why Tron’s user base has increased rather quickly.

The Tron network creates new blocks using an improved consensus protocol based on Delegated Proof of Stake (DPoS). Tronix holders can accumulate their coins, and that gives them the right to vote for the nodes in the network that produce new blocks (they are known as Super Representatives). The votes are counted every six hours, and the new Super Representatives are elected consequently.

Tronix (TRX): Tron’s native currency

Tron started as a project running on the Ethereum network. As such, the project’s currency (TRX) came to life as an ERC20 token. Then Tron became independent one year ago. The blockchain and the token are now fully autonomous and independent from Ethereum and Tron has achieved the tenth spot by market capitalization.

Several cryptocurrencies are in use in the Tron network, but the main one is Tronix (TRX). It’s the fuel that powers the whole environment, and it’s the coin that supports all the other tokens in the network (Tether, BitTorrentToken, Tron Weekly, and many others). It also empowers holders to vote for Super Representatives (new block producers) and profiting in some way from their votes.

BitTorrent and the BitTorrent Token

BitTorrent is the largest decentralized network in the world. It’s a P2P file sharing system used by more than 100 million users scattered all over the planet. Tron now owns the BitTorrent network, and it created the BTT currency so that it can fuel the BitTorrent system as it joins the Tron blockchain.

The BTT token has already grown significantly. Despite being a derivative cryptocurrency it’s ranked 37th by market capitalization, and it’s been around for only a few months. BTT is meant to be a lubricant to exchange computing and bandwidth resources shared by users in the BitTorrent network. It’s an incentive for users to keep their content online and available for other users to share and download.

Since yesterday, Tron’s Tronix and BitTorrent Token are available at CEX.IO for users to trade and exchange.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

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Is DigiByte (DGB) the next big opportunity in crypto?

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DigiByte is a blockchain project that’s been around for five years already. It aims to provide a more secure, faster, and visionary blockchain and cryptocurrency for the cryptosphere. It’s currently the world’s largest, fastest and most secure UTXO blockchain in the planet.

So while the technological advantages in DigiByte (DGB) are apparent (and it also has an active community) it’s market performance is not that impressive. It’s trading at USD 0.012248 with a capitalization of USD 146 million. It holds the 64th spot by market cap according to coinmarketcap.com.

But is it a sleeping giant?

If you’re an investor or trader looking for a reliable digital asset that could be about to explode, DigiByte could be just the thing. It has a genuine use case; it also has an authentic developer community. It’s 40 times faster than Bitcoin and arguably more secure.

But can it really compete with Bitcoin? Is it a serious candidate for mass adoption?

Well, let’s see. It’s highly secure and scalable; it has very high transaction speeds, it’s been around (and thoroughly tested) for more than four years, it features manageable units ready for mass adoption, and an active development team.

It’s a mineable coin that uses several different algorithms that keep the network fast, so you can mine your own or get some in several different trade and exchange platforms.

There are wallets available in every operating system.

The blockchain includes three layers: applications, digital asset, and core protocol. This means that the blockchain allows for the development and deployment of both centralized and decentralized applications as well as smart contracts. The digital asset layer deals mainly with security. And the core protocol is the one that supports all of the project’s infrastructure. The capacity to deploy smart contracts and apps makes this blockchain way more versatile than Bitcoin’s.

Another exciting feature in DGB is its high degree of decentralization. Its active nodes are genuinely scattered all over the world. Bitcoin, on the other hand, has most of its mining activity centered in China. While that doesn’t mean that Bitcoin is centralized, it is a risk because the Chinese government has been friendly to the crypto verse in general but quite hostile towards Bitcoin. The problem is that if something happens in China, and all those mining nodes go offline, the BTC network would face some severe issues.

Also, the DGB mining process is much lighter than Bitcoin’s. Bitcoin consumes as much energy as Ireland to keep the mining process going because calculating the SHA256 collisions needed to create new blocks (and tokens) is so labor extensive that you need specialized hardware to do it and to live in a country in which electricity is very cheap. In short: mining BTC is slow and expensive, and if you’re interested in it, you’re probably late to the party. But if you’d like to mine DGB instead, you arrived just in time.

Final thoughts

DGB has everything it takes to become successful as a cryptocurrency both in the real world and the market. And it’s still very cheap.

It’s a project with solid fundamentals that have not been recognized by the market yet, so this would be the perfect time to get involved.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

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Binance 2.0 sees official launch: Margin trading now available to exchange’s users

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One of the world’s largest crypto exchanges, Binance, continues to expand its ecosystem by introducing its new Margin Trading platform. Binance is already well-known for a massive expansion that it saw in 2019 so far, including multiple arms that serve clients on various continents.

The exchange’s CEO, Changpeng Zhao (CZ) commented by saying that this is an extra step. CZ believes that it will help Binance move forward on its way of becoming an inclusive platform that will see to the need of retail and institutional traders alike. The exchange will provide a new platform in the crypto and financial services markets, and help improve trading results.

How does margin trading work?

Margin trading has a significantly higher potential to bring profit if we compare with traditional trading. This is because it offers leveraged positions, which can bring a much higher reward if the trader makes a good trading decision. Of course, the risks are also significantly higher, particularly when it comes to cryptocurrencies, which are infamous for their volatility.

As many might already know, margin trading in crypto space allows opening short and long positions. Traders would open long positions when they expect the asset’s price to rise, and short positions if they expect the price of assets to drop. Binance itself seems to be including one aspect of the financial industry after another in its ecosystem, simultaneously educating its users, informing them, and raising awareness of various options available to its community.

Binance 2.0 to bring forth new possibilities

According to Yi He, Binance’s co-founder, margin trading of cryptocurrencies poses significant risks, even now when the prices are rising. However, for those who get it right, it can bring substantial benefits. The exchange’s goal is to bring additional knowledge on risk management, as well as the option to perform margin trading. Coupled together, the Exchange believes that this move might bring significant long-lasting benefits.

Yi He added that margin trading used to be among the utmost demanded services in Binance’s community. Both institutional and retail traders demanded it, and now that it is finally here, it promises all kinds of opportunities in the near future.

The new Margin Trading platform is introduced under a new interface that allows traders to access the Margin function and the exchange itself. According to Binance, this was done just to serve better for fast-evolving crypto traders. They will have a familiar UI and only need one account. Binance 2.0 platform bring better order matching with the help of an advanced trading engine. For margin level calculations it also provides press indexes, which is expected to bring lower liquidations.

Users can quickly move their funds from their Binance wallet to their Margin Wallet, and back — all at zero cost. The new platform even allows users to choose collaterals from quite a long list of cryptocurrencies. Meanwhile, margin trading fees can be paid with Binance Coin, which brings yet another use case to BNB.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

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SEC gives its first-ever go for an initial coin offering in US history

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Blockstack Received SEC’s Approval

After a series of crackdowns on various token offering platform for their ICOs, the US SEC has finally pressed the go-ahead buzzer to Blockstack under Regulation A+ (Reg A+). Accordingly, Blockstack becomes the first-ever platform that has been approved by SEC for a token offering. Reg A+ is a different track and an alternative to an initial public offering that enables small companies to raise money publicly. After this; Blockstack can conduct a $28 million digital token offering sale to raise funds from the public.

The news was announced on Wednesday wherein the Blockstack founder Muneeb Ali told the media (Wall Street Journal), that the process of token offering is costly and still very long. Muneeb further claimed that he and another founder Ryan Shea’s spending of $2 million to get approval for the sale. This is because SEC had to devise a “brand new protocol” for such offering under Reg A+ and it is something new that SEC had never done before.

A Big Win

Talking about this, Muneeb Ali elaborates that;

“It is a truly groundbreaking day for decentralized technology and, by extension, digital rights. No company on the internet should have so much power that it can debate if it should treat users in the right way or not. By building technology that can’t be evil, trusting centralized organizations to make the right choice is replaced by mathematical proofs.”

After a series of crackdowns, Blockstack is the first company that got favors from SEC – in contrast; SEC has already voiced over $100 Million ICO, proposed by messaging app Kik.

This exciting news in an environment where Crypto prices are experiencing sudden downfall was received as a big win by the crypto community. In fact, few prominent crypto leaders such as the founder of Morgan Creek Capital, Anthony Pompliano took to Twitter. Anthony tweeted:

Also, another well-known leader, Jake Chervinsky, who often talks about the crypto industry from the perspective of SEC and other legal matters, wrote about Blockstack and pointed it as “Huge News.”

Earlier to this report, Blockstack had raised about $47 million via previous token offering under a different provision called Reg D. According to the reports, this provision doesn’t require approval from SEC and is only limited to accredited investors whereas Reg A+ provision is open for everyone. Any individual or company can partake in a token sale approved under Reg A+ provision.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

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