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Binance launches P2P trading in China as the country remains hyped

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Binance and its founder Changpeng Zhao has made it a point to capture the cryptocurrency market with multiple announcements and updates. In the latest bid to capture the ever-growing Chinese market, Binance announced that users in China will now have BNB P2P trading enabled via the Binance app.

Fans of the exchange wasted no time in complementing the company, with Jawad Arif, a user tweeting at CZ saying:

“ Thanks for keeping us staying alive. You are a lifeline for thousands of blockchain believers. Keep going my friend.”

CZ was ecstatic about the announcement, and his tweet post the statement read:

“Shill tweet. When 1.4 billion people understand $BNB…”

Many members of the community thought that the price would definitely go up after the report, but the main point in focus was the new reach created by Binance. Binance Coin did not go through much of a price change after the latest news with the 24-hour spectrum showing a slight 1.59 percent increase. At press time, the cryptocurrency was trading for $20.48, with a total market cap of $3.19 billion. BNB’s market volume had increased to $155.54 million after the price hike.

The launch of the P2P trading in China comes at a time when the country has decided to accept blockchain wholeheartedly. China had made significant news when the country’s central bank official made statements in support of blockchain technology right after President Xi Jinping’s words rang the same bell. Xi Jinping had said:

“We must take the blockchain as an important breakthrough for independent innovation of core technologies. We must clarify the main direction, increase investment, focus on a number of key core technologies, and accelerate the development of blockchain technology and industrial innovation.”

The hype in China had become so massive that the country’s state paper, the People’s Daily, asked people to remain calm about the markets. The circular read:

“The rise of blockchain technology was accompanied by that of cryptocurrencies, but innovation in blockchain technology does not mean we should speculate in virtual currencies.”

Disclaimer: The presented information is subjected to market conditions 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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Tether mints massive amounts of tokens as cryptocurrency market dips

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Large transfers and token movements have always caught the eye of users in the cryptocurrency world, and Tether caused the latest disruption yesterday, on October 24. Whale Alert, the cryptocurrency data aggregator, had tweeted:

“30,000,000 #USDT (30,027,351 USD) transferred from Tether Treasury to #Bitfinex”

The timestamp for the transfer was 23 October 22:37 (a couple of days ago), which occurred from the Tether treasury to Bitfinex. The hash for the transaction was 68ff92b6546113708b1cff3fdaec70a36be6928f7a53ad9b33de13a4ad294e3a. The owner’s address was THPvaUhoh2Qn2y9THCZML3H815hhFhn5YC, while the settlement took place on block 13874556.

The sender address was THPvaUhoh2Qn2y9THCZML3H815hhFhn5YC, while the receiving address was TXFBqBbqJommqZf7BV8NNYzePh97UmJodJ. Some users had a lot to comment on the transfer with Grape, a Twitter user stating:

“Everytime they print it dumps. I’ve been shorting these mintings and it’s been going well. Just short whenever you see it happen. We’re probably going to 5k before November.”

At the time of writing, Tether was trading for $1.01, with a total market cap of $4.14 billion. The cryptocurrency had a 24-hour market volume of $20.57 billion. BitMart, a cryptocurrency exchange, controlled a majority of the Tether trade overseeing $495.29 million worth of trade, followed by Coinsuper, which had a $431.25 million hold on the shares.

Tether was also in the news recently when the Celsius network announced that they would support the stablecoin at a 12 percent interest. Users on the platform will be able to receive interest in USDT or CEL tokens.

Borrowers on the platform can take advantage of the integration as those who post collateral of digital assets can borrow USDT at interest rates of 3.5 percent. The minimum loan amount offered by the company is $15,000.

The new token minting comes in the wake of Tether being slammed by a lot of critics with may calling the stablecoin as “part-fraud, part-pump-and-dump, and part-money laundering.” During a recent lawsuit against Tether, Bitfinex and some other organizations, the plaintiffs had stated:

“This action concerns a sophisticated scheme that co-opted a disruptive innovation — cryptocurrency — and used it to defraud investors, manipulate markets, and conceal illicit proceeds. Part-fraud, part-pump-and-dump, and part-money laundering, the scheme was primarily accomplished through two enterprises — Bitfinex and Tether — that commingled their corporate identities and customer funds while concealing their extensive co-operation in a way that enabled them to manipulate the cryptocurrency market with unprecedented effectiveness.”

Disclaimer: The presented information is subjected to market conditions 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 SR rankings shuffled as Binance unfreezes massive amounts of TRX

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Tron and its Chief Executive Officer Justin Sun have been known to create news in the cryptocurrency space with the sheer number of updates and developments from the company’s roster. This news making ability has also been helped along by several partnerships and tie-ups that have taken the company to new heights.

One of Tron’s primary beneficiaries has been the Changpeng Zhao led Binance, and according to Misha Lederman, a famous Tron enthusiast, there seems to be something brewing between the two. Lederman’s latest tweet read:

“Interesting development in #TRON ecosystem:
@Binance seems to have unfrozen 11.9 billion TRX, previously voted for #Binance in the SR elections. That would make @SesameseedOrg 1st, @BitGuild 2nd, @trxdream 3rd & @BeatzCoin
4th in the SR ranking. @cz_binance, care to comment😉?”

During the vote periods, Sesameseed had 494,177,142 votes while BitGuild, Tron-ONE, and BeatZCoin had 423.372 million, 410.206 million and 368.471 million votes respectively. The reason for the switch remains unknown, but many users in the space have speculated as to what the reasons may be. Cryptoworld, a cryptocurrency enthusiast, replied to Lederman’s tweet by saying:

“The reason is simple, if Binance remains SR with + 50%, the SEC can consider that TRON is not decentralized enough, and it could become a security, which nobody wants here.”

Some users have also speculated that Binance didn’t actually have to free the 12 bullion because they were able to vote without affecting the liquidity of the exchange. Binance had made waves when Tron had announced that the exchange had become its top Super Representative while it added TRX staking support. This September 30 development had occurred after the cryptocurrency exchange acquired over 12 billion votes in the Super Representative elections.

Binance was also in the news recently when it added an XRP pegged coin to its fold. The XRP-BF2 will be the new token that users will be able to utilize for instant swapping with no hiccups. Binance has stated that it has minted a whopping 10 million XRP-BF2 for the DEX.

Disclaimer: The presented information is subjected to market conditions 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 continues its forward march with BNB’s latest listing

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The cryptocurrency market has been a cauldron for many new tokens, with a majority of them breaking into the mainstream market. One of the most famous examples of this is Binance’s Binance Token [BNB]. The cryptocurrency released by the Changpeng Zhao led company has multiplied in terms of value since its inception, and holders have raved about it for some time now.

In a new series of announcements, the CEO shared the cryptocurrency’s new playground by informing users of BNB’s latest integrations with Coinhe.io, a popular cryptocurrency exchange. CoinHe.io’s original statement had read:

“http://CoinHe.io has listed @Binance’s BNB with USDT, BTC, and VCC pairs. Users can deposit/withdraw BNB by using CoinHe VNĐ fiat gateway. #UseBNBCoinHe will waive VCC-BNB trading fees for 3 days with a further 50% off for the 2 weeks following: http://bit.ly/bnb-coinhe.”

Post the exchange’s announcement, CZ had pitched in by tweeting:

“#bnb going further than Binance. Many thanks to @Coinheglobal!”

The latest report was met with a split review from its user base, with some claiming that the listing will pave a better way for BNB while some others called the development “lame.”  The exchange, however, has been all praise for Binance’s native cryptocurrency and has promised users of better transaction experience.

Binance has been in the news multiple times for its slew of updates and developments, and the CoinHe.io announcement has been one of many in accomplishing Binance’s stipulated roadmap.

BNB is known to power the Binance ecosystem, and as the native coin of the Binance Chain, BNB has had multiple use cases, ranging from fuelling transactions on the Chain, making in-store payments and paying for transaction fees on the exchange itself.

At press time, Binance Coin was trading for $16.96 with a total market cap of $2.637 billion. The cryptocurrency also held a 24-hour market volume of $245.539 million after a 2.42 percent price drop in the 24-hour timeframe. Binance was also in the news recently when it listed an XRP pegged token on the Binance DEX. The XRP=BF2 will be pegged to and backed by XRP assets while being issued on the Binance Chain.

Disclaimer: The presented information is subjected to market conditions 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 Europe Brings Amazing Medals for Tronics: Vote and Win Tokens

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The community-built organization, Tron Europe, isn’t leaving a single chance to show Tronics (the Tron community) how beloved they’re to them. Tron-Europe is now introducing the Medals in the form of tokens.

As discussed a while ago, TERC (TronEuropeRewardCoin) is the token from the long-standing Tron SR Tron-Europe, which is designed to get distributed to the community when a member votes for TrornEurope as a Super Representative on the TRON Network.

TronEurope Announces Medals Based Reward Model

Besides TERC, the platform now offers Medals to the Tron community. The medals consist of Bronze, Silver, and Gold that will be provided each month.

  • The bronze medal will be accessible for the voting power of 1 Million TRX
  • The silver medal will be available for 5 Million TRX
  • The gold medal will be accessible for 10 Million TRX

As per the information shared with us at Tron Weekly Journal, the Bronze medal will be worth 25K TERC token, whereas Silver will be valued 150K TERC, and Gold will be worth 250K TERC respectively. The platform has also ensured that these tokens could be used and tradable in its ICOs in the near future.

TronEurope
Credit: Artur Szczybylo / Shutterstock

An interested community member will be eligible to get a medal only if they can vote for the full month in time. However, if you change your votes anytime in a month, you may lose the eligibility of receiving the medals. In Tron Europe’s words, “People get double the amount of what they would normally get.”

So far, Tron Europe has received an enormous boost from the Tron community, especially on the social media platforms (mainly Twitter). One such proponent of TronEurope appreciated the team and said: “TERC native token of Tron-Europe is best on Tron Network.”

Nevertheless, the Tron ecosystem itself is gaining the new figure; it seems the Tron Token (TRX) itself has made a comeback attempt, finally. The token is currently valued as an eleventh largest token on the graph of Coinmarketcap, again, with the soaring price 3.35 percent within the past 24Hrs. At the time of reporting this, Tron’s market capitalization counts at $1,123,377,052, and the token is valued at $0.016 against USD.

Moreover, Tron remained the second-largest blockchain network for decentralized application/dapps – as per the Q3 report shared by the largest dapp directory, Dapp.com.

Disclaimer: The presented information is subjected to market conditions 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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XRP receives a quick boost as Binance Singapore opens XRP/SGD trading pair

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Today, a Singaporean trading arm of the major crypto exchange Binance announced that it had opened trading pair of XRP/SGD on its platform.

Announced on October 8, Binance Singapore opened the trading of the third-largest cryptocurrency with the Singaporean national currency, Singapore Dollar. As a promotional stunt, the platform encourages XRP and crypto community to retweet the announcement tweet to win the Binance Singapore T-Shirt. It tweeted as follows;

https://twitter.com/BinanceSGD/status/1181818256195088384

Ripple’s XRP and Binance

For quite some time now, XRP is on the limelight with the Binance cryptocurrency exchange. The CEO of Binance, Changpeng Zhao (aka CZ) earlier confirmed that the decentralized exchange of Binance is soon launching XRP-backed native token on Binance DEX and Binance Chain.

As for now, the third-largest cryptocurrency is gaining a brief surge in its daily market capitalization. The token is currently up with 0.47 percent within the past 24 Hrs as it trades at the value of $0.27 against USD. Moreover, the coin’s market capitalization is also showing a quick rise and sits with $12,055,249,931 on October 9, 2019.

Besides, the Binance exchange announced to hit its eighth phase of the lending product wherein the platform offers 14-days fixed-term lending products. Notably, the exchange included XRP in its program among the set of other cryptocurrencies such as Binance Coin (BNB), Binance USD (BUSD), Bitcoin (BTC), EOS, Ether (ETH), Ethereum Classic (ETC), Tether (USDT) and Chainlink (LINK).

It’s worth noting that the lending product was initially rolled out with only three digital assets, BNB, ETC, and USDT, and in Sept this year, the platform added privacy-focused cryptocurrencies, including Monero (XMR), Zcash (ZEC) and Dash (DASH).

More so, the largest payment platform BitPay has also confirmed that it will launch the support for XRP by the end of this year – which will enable the worldwide merchants to accept XRP besides limited sets of cryptocurrencies.

Disclaimer: The presented information is subjected to market conditions 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 to Offer XRP-Pegged Token on Native Binance Chain and DEX

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Changpeng Zhao (CZ), the CEO of Binance Exchange, made headlines today after revealing a quick secret about the upcoming featuring related to XRP, the third-largest cryptocurrency by market volume. The exchange is launching XRP-pegged coins native to its Binance chain.

While responding to a tweet, CZ states that the exchange is all set to offer XRP-pegged token on Binnace Chain and Binance DEX. He tweeted;

XRP-BF2: XRP Pegged Token on Binance Chain and Binance DEX

The token will be known as XRP-BF2, and as per the Binance explorer, the total supply of this token is 10,000,000. The new native network of Binance, Binance Chain, is the key to offer assets for its newly built DEX, Binance decentralized Exchange.

However, the exchange has earlier announced the creation of native coins that would be pegged to few top cryptocurrencies on Binance – in fact, BNTB is one such coin, which is a Bitcoin-pegged token. As CZ said;

Pegged tokens such as BTCB, are 100% backed by the native coin in reserve, which is Bitcoin (BTC) in BTCB’s case. The reserve addresses are published for anyone to audit. The blockchain offers a much easier way to audit a crypto reserve than a traditional bank balance tether.

In his continuous talk, CZ clarifies there will also be Binance XRP backed by real XRP. The fact Binance is moving forward with this step is that it asserts XRP doesn’t have direct trading pairs on any non-custodian DEX, and looking at that fact, he says, it will now have.

https://twitter.com/cz_binance/status/1179926231032057856/

Binance boss further elaborated that the token will be fully backed in a ratio of 1:1 on the blockchain. While the news is quite exciting for the whole XRP community, they seek to catch more details quickly, which is yet to be shared by Binance exchange via its official blog. In fact, the news was supposed to be revealed by Binance very soon, but as per the statement of CZ, the blockchain transparency made it public ahead of the time.

On the back of Binance’s launching XRP-pegged token, the value of XRP is quietly flourishing by 1.78 percent within the past 24Hrs. Moreover, it is currently trading at $0.24 against USD, capturing the market capitalization of $10,925,828,343.

Disclaimer: The presented information is subjected to market conditions 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 Boss Affirms BNB is Bigger than Binance as New Exchange Lists BNB

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Despite the severe crypto market crash, Binance Coin (BNB) recently received support from yet another cryptocurrency exchange Piexgo. Alongside BNB, the exchange announced to support BEP2, a crypto-pegged token on Binance’s native Chain.

BNB Receives Support from Yet Another Exchange

Today, on September 26, the exchange announced as follows;

We are pleased to announce that #PIEXGO has listed #BNB and support @Binance chain #BEP2 standard as well! More #BEP2 tokens will be added very soon! Working hand in hand with @Binance chain ecosystem, we aim to make digital assets accessible and easy to use for everyone.

The listing quickly received the attention of Binance CEO Changpeng Zhao (aka CZ), who took to Twitter and thanked PIEXGO. CZ stated, “BNB is bigger than Binance.”

https://twitter.com/cz_binance/status/1177116897180966913

As far as the token price is concerned, the coin is currently ranking as the 8th largest cryptocurrency in terms of market capitalization. With the crashing prices of bitcoin and other largest cryptocurrencies since last few days, BNB’s current price seems to be reaching six month low.

At the time of reporting, Binance Coin (BNB) is trading at $16.37 against USD and holds the market capitalization of $2,545,851,520. It’s worth noting that the coin is briefly surging by 5.02 percent within the past 24Hrs.

Binance Reveals another Fiat Gateway

Additionally, the giant crypto exchange Binance recently announced the addition of another medium to fiat gateway, enabling its users to pay for cryptocurrency conveniently using debit & credit cards and via wire bank transfers. The move was followed by the partnership with payment processor Koinal which makes Binance debuts four fiat gateway channels up until now.

More so, the London-based Koinal is adding fiat gateway for five major cryptocurrencies; Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC) and Ripple’s XRP. Following the integration of Koinal, Binance Spokesperson elaborated;

“The Koinal integration allows users to purchase cryptocurrencies with any local currency via debit or credit cards at low fees. The portal is powered by Koinal and hosted on Binance.com, where users can easily make purchases and check their deposit history after logging into Binance.”

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 CEO Reacts to DigiByte Founder’s Claim “Binance Demanding Huge to List DGB”

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Community members of DigiByte (DGB) cryptocurrency have been reportedly requesting project owners to list DGB token on Binance crypto exchange. But the founder of the token, Jared Tate recently claimed that the Binance team is demanding a $300,000 and 3% of the coin supply to list DGB on Binance. He said that DGB does not have the necessary funds to meet the exchange’s requirement of listing.

DigiByte v/s Binance

DigiByte (DGB) is still a new token in a crypto market, and the potential listing on leading exchanges like Binance will likely benefit the coin in terms of several traders, adoption, market volume and so on. However, on Sept.20, Jared took to twitter and claimed that he spoke to the Binance team about the potential listing of DGB token.

According to Jared, Binance team demands $300,000 and 3% of the total coin supply of DGB token for “insurance of their customers against blockchain hacks & defects.”

As the DigiByte defined itself as the genuinely decentralized blockchain, Jared allegedly responded Binance team that is not possible as the project doesn’t have necessary funds. Further, Jared wrote;

After explaining in lengthy detail we have zero funds and zero ability as a decentralized project to meet such a request, they told us they would get back to us. tired of everyone asking me when Binance or coinbase. They are free to do as they wish.

However, it’s worth noting that clashes between DGB founder and Binance aren’t the first of its kind. Previously, DigiByte won a listing poll on Binance, and reportedly Binance asked a fee to list DGB token, but as DigitByte couldn’t afford, there appeared to have clashes between the founders of both the firms.

Subsequently, the latest arguments have gotten the attention of Binance CEO, CZ who then responded, saying “I think he specifically doesn’t want DGB listed on Binance.’

https://twitter.com/cz_binance/status/1175258923382652929

On the other side, Digibyte (DGB) is performing pretty well in the crypto market. As TronWeeklyJournal reported in August this year, the leading blockchain-based travel booking firm Travala announced the integration of DGB token as a payment option. Notably, there are around 400 firms and merchants who have adopted DigiByte as a preferred payment method so far.

Looking at the current scenario, it’s uncertain whether or not Binance would ever list DGB now. As far as Jade’s claim is concerned, he hasn’t shared any solid proof of the conversation that he had with Binance team which have led the community to conclude the argument as “Jade’s attempt is merely a PR stunt.”

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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Stellar price nosedives as 35,000,000 XLM tokens get transferred to Kraken

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Yesterday, yet another massive crypto whale has moved almost 2,657,342 USD worth Stellar Lumens (XLM) from an unknown wallet to Kraken cryptocurrency exchange.

The crypto community has got much familiar with such whale movements in the recent past. Specifically, XLM and XRP whale movement volume have been higher as compared to other digital assets in the market.

The Whale Alert account on Twitter reported that around 35,000,000 XLM very moved from an unknown wallet to Kraken Exchange. The transaction was recorded today on Friday, 20th September at 12:04:14 UTC. Further things to note in the transaction are as follows:

Blockchain: Stellar

Type: Transfer

Amount: 35,000,000 XLM (2,657,342 USD)

Hash: 4e081c0f5d06fb1b8b15a7877953c81176950266a95565f09d375bd120932ae4

From: GD3WCAP6TJNWTSYIZR2A34FDHU55QY3JFSZGJMWHBZLCZCM5EL3EFROZ (Unknown)

To: GA5XIGA5C7QTPTWXQHY6MCJRMTRZDOSHR6EFIBNDQTCQHG262N4GGKTM (Kraken Exchange)

With such massive movements in the last week, XLM has badly plunged. About six days ago, the same kind of whale movement was recorded where 260,000,000 XLM (USD 15,008,070) got moved from unknown wallet to Kraken Exchange.

After picking up a massive bullish movement earlier this week, Stellar (XLM) surged from around $0.059 to $0.085 after seeing a significant rise in its price. During that time it jumped up from 12th spot to the 10th place.

However, after the recent whale movement, XLM hasn’t been able to tackle the market situation, and as we write this, it has dropped by 7% in the last 24 hours. Currently, XLM is trading for $0.072 with a market cap of $1.4 billion.

Most of the times, these whale movements are not a pleasant sight for investors, as they think that the assets price is being manipulated. As a matter of fact, it is not wrong that some exchanges and some other prominent players in the market have been held responsible for manipulating volume data to enhance their growth rate and network.

To attract more users, exchanges, and crypto trading platforms make such moves which increase their trading volume. To publicize and promote their platform, such movements are made, and that becomes a part of the marketing strategy to semblance their platform being a more popular and preferable network over its competitors.

There needs to be a solution of such activities and crypto community is the one that needs to come up together as one unit to make sure that they safeguard the rights of the assets they hold.

Stellar, the blockchain platform that runs the crypto asset XLM, needs to find a solution to this issue and take its investors on the same page and clarify their ambiguities. However, analysts believe that in big markets where there are opportunities to earn big, massive flaws exist, too. Whale movements generally harm the market performance of a digital asset.

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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