Posted on

Binance Records ATH in Trading Volume. Stats are “Much Higher” Than The Peaks of 2017

Exchanging Cryptocurrencies

The crypto market is registering records of popularity, indicating that the bearish season seems to be over. After Ethereum experienced a historic increase in its transactions, Binance seems to prove that the hype in the markets is even stronger than what many of us have imagined.

A recent tweet published by CZ, Binance CEO, showed his
astonishment upon a boost in trading volume so dramatic that his Exchange
(currently the most important in the ecosystem) struggled to withstand the
heavy workload exerted by users.

The failures of the Exchange annoyed some traders, who
reported substantial losses given the difficulties to establish positions and
correctly manage the order books.

Interestingly, although BTC is still halfway through its
2017 price peak, CZ explains that this seems to be a historical landmark. The
number of orders is currently much higher than the crest of 2 years ago.

After a few hours the Binance team solved the situation and
although the volume of orders exceeded expectations, at no time was the
platform shut down or put the funds of users at risk.

Binance Had Issues, Bitcoin is Down… But The Panorama is Still Bullish

It is difficult to establish an absolute correlation between the Binance issue and the price of Bitcoin, however being the main crypto Exchange in the market, it is probable that this failure has increased the number of short positions, causing a fall of Bitcoin to prices near 7650 USD.

Although the correction in the Bitcoin price dragged other
cryptocurrencies with it, the trend still seems to be bullish and the
indicators favorable. It is possible that once natural trading resumes, the
market will return to normal again.

This anomaly can be seen by comparing the signals on charts with candles set at 4 hours and those with candles set at 1 day. Those who trade in the short term have a significant amount of bearish signals, whereas for those who trade with candles of 1+ day, will have a more favorable outlook.

Currently Bitcoin (BTC) registers a normalization of its RSI, which has dropped to normal zones after presenting overly high values, however, a cross in the MACD as a result of this bearish behavior could reach the token to test a support close to 7350 USD in the short term, although the pattern remains bullish.

On the other hand, the short-term candles outlook shows that after dropping from 8000 USD to close to 7000 USD, Bitcoin managed to recover and then correct close to 7616 USD. However, the Relative Strength Index (RSI) shows an optimistic outlook awaiting confirmation.

The post Binance Records ATH in Trading Volume. Stats are “Much Higher” Than The Peaks of 2017 appeared first on Ethereum World News.

Posted on

CZ Reveals that 65% Of The Community Would Donate to an “Anti Craig Wright” Charity Fund

Blockchain

Although this may not be news to most of you, Craig Wright does not seem to enjoy the sympathy of crypto enthusiasts and a recent survey by Binance CEO CZ may prove this: Nearly 70% of the CT community answer the poll saying they are willing to donate to an “Anti CSW Fund”.

CZ is creating a Fund to help those sued by Craig Wright
Craig Wright

Craig Wright, who has repeatedly claimed to be Satoshi Nakamoto, is known in the community for not been able to prove his allegations. In fact, various important personalities in the community such as Roger Ver, John McAfee, Vitalik Buterin and websites such as Wikileaks have called him a fraud because of that.

This apparently hurt Wright’s feelings, as he started a series of lawsuits against those who question his words.

The first affected was Hodlnaut, a Twitter account known for promoting the Lightning Torch initiative. Despite being an anonymous account, Coingeek (Website owned by Calvin Ayre, BSV promoter and head of CSW) offered a reward to whoever identified the account administrator, starting a manhunt that led this misterious character to close his twitter profile.

CZ: Enough is Enough

Faced with this situation, CZ, known for taking a neutral stance in this type of conflicts, took part, threatening to delist BSV from his Exchange, a move that the community applauded. CSW continued so Binance and other exchanges met their promise.

However, CSW’s threats reached not only people with a lot of money. They also damaged individuals and small businesses which in most times may not be able to afford the legal costs associated with a judicial process such as the one CSW intends to start.

Thinking of this group, CZ surveyed his followers to find
out if they would help those damaged by CSW’s actions. The response was
overwhelming:

After knowing the public’s stance, CZ went ahead with his
initiative, explaining that because of transparency reasons, donations would be
delivered to a lawyer properly verified by his organization, adding that upon
completion of the litigation, the remaining funds would be returned to Binance
for redistribution to other charitable initiatives.

CZ even pledged to donate 10k to this cause.

Craig Wright Just Loves Lawsuits

So far it is not known whether CSW will continue with his demands. For now, the lawyer seems to be very busy with a a lawsuit against him filed by the sister of his former partner Dave Kleiman, who accuses him of having taken advantage of Mr. Kleiman’s death to seize 1.1 Million Bitcoins.

The court, which previously denied CSW’s attempts to dismiss the lawsuit, ordered CSW to provide a list of the BTC wallet addresses handled by him.The judge said:

“On or before May 15, 2019, at 5:00 p.m. Eastern time, Dr. Wright shall produce all transactional records of the blind trust, including but not limited to any records reflecting the transfer of bitcoin into the blind trust in or about 2011. The production shall be accompanied by a sworn declaration of authenticity.”

Also, recently it came out that some of the emails promoted by Mr. Wright could have been a forgery according to what a cybersecurity expert told the court. Although the research was extensively explained by the expert, a Reddit user may have a simple explanation:

The post CZ Reveals that 65% Of The Community Would Donate to an “Anti Craig Wright” Charity Fund appeared first on Ethereum World News.

Posted on

Is Binance Striving to Become the Facebook of Crypto?

Binance

It has not gone unnoticed that the world’s largest crypto
exchange keeps growing. Gone are the days when Binance was just simply a place
for digital asset trading. Within two years it has become the ‘one stop shop’
for all things crypto, and it has no plans to stop there.

There are a number of similarities between Facebook and
Binance and a recent Forbes
piece
citing the Coin Talk podcast has delved deeper into the men at the
helms. Just like Binance, Facebook was considered a niche product when it was
launched as it was only aimed at US students. Myspace dominated the social
media scene before Facebook arrived and consumed the competition.

Under the guidance of Zuckerberg, who strived to be cool
while in control, Facebook became a monster with tendrils that touched every
corner of the web. Around 30 percent of the planet’s population uses Facebook and it has all
but obliterated any competing platforms or services.

Comparing the two chief executives there are clear similarities, with the popularity of Zuckerberg in the early years of Facebook, and the idol like respect that Changpeng ‘CZ’ Zhao gets from the crypto community today. Jay Caspian Kang who co-hosts the popular podcast said;

“In the film The Social Network, Mark Zuckerberg puts ‘I’m CEO, bitch,’ on a business card. He was play acting a cool guy that doesn’t care about anything, seemed to be just rolling with the punches but is totally in control. CZ is like the real version of that in crypto.”

CZ’s use of twitter to engage with his 333,000 followers and
the wider crypto community has earned much kudos for him and the company he
commands.

It clearly works for Binance which has exploded onto the
scene in just a couple of years. From the early days of being a quirky trading
platform the company now has offices across the globe, multi-language
exchanges, many with fiat to crypto on-ramps, and an ever growing number of
users.

It doesn’t stop there; products including Binance Labs
blockchain incubator, a LaunchPad token platform providing instant success to
its selected projects, an educational Academy, research and development divisions,
Ethereum rivaling Binance Chain and decentralized exchange, and even a charity
have all been added to the growing list.

And we have yet to mention Binance Coin, the
exchange based token that has surged 250 percent this year alone and is now the
seventh largest cryptocurrency by market capitalization which is currently $3
billion.

There is no denying the power
Binance now wields
over other blockchain projects and the emerging crypto
space. This has been clearly demonstrated with the Bitcoin
SV boycott
. Time will tell if the crypto company and its enigmatic leader
will follow in the footsteps of Facebook and consume the entire ecosystem!

The post Is Binance Striving to Become the Facebook of Crypto? appeared first on Ethereum World News.

Posted on

Why >9000 percent Increment is Nothing for Binance Coin (BNB)

Binance Coin BNB

Binance CEO, Changpeng Zhao (CZ), recently tweeted an image from CoinMarketCap which shows that the return on investment for Binance Coin (BNB) is well over 9,000 percent. The tweet has subsequently sparked a debate online, with most people of the view that the cryptocurrency could surge higher.

It’s Hard to Know the Peak Value for Binance

Following the tweet by CZ, a debate is now raging with participants keen on cracking the
true value of BNB and sprawling Binance ecosystem. There are some who believe
that Binance Coin (BNB) is peaking. However, some market participants disagree,
adding that it is hard to quantify the height of a company like Binance.

According to Crypto Kid BNB, it is impossible to determine the peak for Binance’s coin
since we can’t measure the height of a company like Binance which is barely two
years old after opening doors in 2017. He insisted that there is no real
valuation to all the work CZ and Binance do.

Read: Critic: Binance Built on “Fake
Volumes” Discuss Banning Exchange in Russia

Citing Bitcoin, Crypto Kid says the
platform’s true potential lies behind its technology and how it meets key
milestones. Therefore he believes that an ROI over 9,000 is nothing for BNB as
its future is expected to be even brighter.

And his comment was re-affirmed.
Crypto Prophet pointed out that those people putting a maximum market cap or
prices on digital assets are just ignorant saying:

 “People putting max market caps or prices on any digital asset are ignorant because of 1. Digital assets are just getting started in terms of adoption. Tip of the iceberg. 2. It’s not an equity. Company revenues have nothing to do with the valuation of a digital asset.”

Binance Innovations Justify an Increase in BNB Valuation

Binance, despite everything, is an
innovative cryptocurrency projects launching around the same time Bitcoin and
the crypto market peaked in 2017. The rise of IEO listings on its Binance
Launchpad has made the token sale venture more interesting for cryptocurrency
investors.

But it is easy to see why. Since
launch, the Launchpad has successfully raised funds for Binance for BitTorrent,
Fetch.AI and Celer. Thanks to Binance being the largest exchange by adjusted
volumes, the hard caps of each project were hit.

Also Read: Breaking: Binance Expected To
Launch Blockchain Today, Decentralized Crypto Exchange To Follow

However—and this is bullish for
Binance Coin, the coin was used as a means of payment in all of them.
BitTorrent for example was sold out in less than 18 minutes with Changpeng
saying it would have been faster was it not for technical glitch. Presently,
the community is getting ready for the Matic token sale which will begin on April 24, 2019.

Besides, the security of Binance is
something extraordinary. Over the past few years, there have been several cases
of cryptocurrency exchange hacks. However, Binance is yet to experience such,
despite it being the largest crypto trading platform in the world, with more
trading volumes than every other one.

The high level of security
contributes to the trust investors, and traders have for the exchange. This is
one of the points raised by the Crypto Kid. So far, Binance has been open
regarding its operations and activities, and this has only increased the trust
people have for CZ and his platform.

The recent coin burn is an indication of the increasing value of BNB. In the last quarter, Binance burnt 829,888 BNB or $15.6 million. While amounts were significantly lower than the previous quarter, it is worthy to note that it is higher in terms of value since BNB’s price has tripled over the past few months.

It is clear to see that all the
above-explained reasons all contribute to what Binance is today. The
combination of these factors drives the value of BNB tokens.

The post Why >9000 percent Increment is Nothing for Binance Coin (BNB) appeared first on Ethereum World News.

Posted on

Tron (TRX) Founder Believes BTC has Bottomed. Binance CEO, CZ, is Also Optimistic

The market for crypto and blockchain technologies has a promising future, not only for entrepreneurs but also traders and speculators. Both Justin Sun, founder of Tron and Chanpeng Zhao, founder of Binance, believe this and share their statements a few days ago with their Chinese followers.

In addition to significant growth in trading volume, the number of startups, fintechs and industrial developments based on blockchain technologies has grown considerably, and these two businessmen of recognized presence in the crypto-verse are aware of this.

In an interview for the Chinese news outlet Huoxing24, the founders of Binance Exchange and Tron (TRX) Blockchain shared their vision about the current state of the market, the future of cryptocurrencies and how blockchain technologies can help achieve greater transparency in the field of charity and donations.

Justin Sun: Bitcoin (BTC) Has Bottomed. DApps Are the Future

courtesy: Bitcoin Exchange Guide

Justin Sun, the founder of Tron, explained that he is optimistic about Bitcoin. The man behind the blockchain with one of the most active communities explained that it is difficult for the market to continue falling; however, he foresees a stability cycle of about 3 to 5 years before there is a serious bull run:

“I think it is already the bottom, and the bear market is over. From now on for three to five years, it is now an absolute low. For this year, I think Bitcoin will fluctuate between $3,000 and $5,000.”

Likewise, he mentioned that beyond financial speculation, the most significant business opportunity in crypto verse is in the DApps. According to Sun, there may be an explosive increase in this industry and BitTorrent could be a catalyst for this shift (important to note that the Tron Foundation recently acquired BitTorrent).

“The opportunities for market breakthroughs this year include the explosion of the DApp ecosystem, the large-scale application of the lightning network, and the three major opportunities for BitTorrent’s 100 million users to enter the cryptocurrency market.”

CZ: Focusing on the Bigger Picture

CZ Binance

For his part, CZ, CEO of the most important exchange by traded volume and the creator of BNB, the non-stablecoin token with the largest market cap, explained that he is also quite positive about the market, although he clarified that his optimism points more towards the medium and long term and is focused more on the industry than on pure speculation:

“I can’t make price forecasts. If I make a price forecast, the consequences can be imagined (that is, 49% of the cases are wrong because I am always optimistic). Our goals are generally set even further, five years, ten years, 100 years. In the long run, the development of blockchain technology will certainly be faster and faster. Digital currency will not disappear but will spread to everyone. Therefore, I am always optimistic.”

The post Tron (TRX) Founder Believes BTC has Bottomed. Binance CEO, CZ, is Also Optimistic appeared first on Ethereum World News.

Posted on

Binance CEO Blasts VCs and Calls ICOs 'Necessary'

Zhao Changpeng, the CEO of popular crypto exchange Binance, said that the initial coin offering (ICO) model is preferred to venture capital – even with the risk of fraud.

In a blog post published Monday entitled “ICOs — Not Just ‘Good-to-Have,’ But Necessary,” the Binance chief took aim at the VC world, notably writing that he believes “raising money through ICOs is about 100 times easier than through traditional VCs, if not more.”

It’s a notable statement, considering Binance’s position as one of the world’s largest crypto exchanges. Nor is it perhaps surprising, given its 2017 token sale as well as the exchange’s recent spat with U.S. VC firm Sequoia. As reported previously by CoinDesk, Zhao was sued by Sequoia in Hong Kong for allegedly speaking to other investors while in talks about a possible capital injection to the firm.

In the blog post, Zhao argued that “a vast majority of ‘professional VCs’ have no clue about the projects or field they invest in.”

“Many of them have zero startup experience and don’t even have a basic understanding of the technologies involved their fields,” Zhao went on to write. And despite admitting ICOs result in failure or outright fraud, Zhao still believes that “compared to ‘traditional VC invested projects,’ a larger ratio of ICO projects will succeed.”

What’s more, he argued that most of those putting their money in such tokens are aware that they may not succeed in the long run.

“Most ICOs are new startup projects, and have a high rate of failure, just like in traditional startups. This is nothing new. Most ICO investors already know this. ICO investors are early adopters (and learners),” later concluding:

“The faster movers will reap exponential benefits. Don’t get left behind.”

Image via Piergiorgio Borgogno/Blockchain Revolution Conference/YouTube

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.