Source for BlockChain News

Monthly archive

January 2021

Binance US to Include NEO and ATOM for Trading

by
Binance

Binance

One of the biggest reasons behind the remarkable growth of the cryptocurrency space is due to the establishment of big-ticket exchanges, and in that regard, Binance US could end up becoming one of the most influential. It is the world’s biggest crypto exchange by trading volume, and its entry into the United States is a major event.

Key Details

It emerged that the American arm of Binance is going to add support for both Cosmos (ATOM) and Neo (NEO). The company made the announcement on October 30 and went on to add that users will be able to trade in both those tokens from October 31.

It is a significant step and is certainly going to help Binance US in attracting more customers. Both ATOM and NEO are among the biggest cryptocurrencies in the world at the moment by market capitalization. According to a leading crypto analysis website, both are within the top 20 in the world at this point, and hence, the listing should eventually raise the volume of trading in the platform.

At the end of the day, the United States remains one of the biggest markets for crypto platforms, and the more options the exchange provides, the greater the chance of driving volume.

>> Ripple Invests in Cybersecurity Startup Funding Round

Dogecoin Listing

However, the latest update is not all. Binance has been adding new tokens rapidly to its American platform, and last week, it announced the listing of Dogecoin on the platform. Although it is not among the biggest tokens in the crypto space, it should be remembered that it has a great recall value and is well known among crypto traders all across the world as well as in the United States.

Dogecoin enjoys modest volumes, and one crypto analysis firm reported last week that it had a 24-hour volume of $7.85 million on Thursday. That being said, the latest listings by Binance US could have an important effect on the future of the exchange.

Featured image: DepositPhotos © Grey82

If You Liked This Article Click To Share

Ethereum (ETH) Posts Significant Gains on Value Buying

by
Ethereum

Ethereum

Ethereum has been leading the crypto rally over the past week after the slump in the first half of 2019.

Over the past few years, Bitcoin has firmly established itself as the biggest cryptocurrency in the world by market cap, and it is the only coin that can actually move markets one way or another. Over the past few years, the second-biggest cryptocurrency in the world, Ethereum, was regarded as the only viable challenger to Bitcoin.

Ethereum Leads

Although Ethereum never overtook Bitcoin, as some believed it might, it is important to note that ETH is now gaining significant ground and has done so since Friday of last week. On Tuesday, Ethereum managed to have a better day than Bitcoin, and it goes without saying that it is a significant event.

Throughout the course of Bitcoin’s remarkable rally this year, Ethereum remained a disappointment, but it seems it is now making a serious move. According to the latest report by Delphi Digital, Ethereum managed to gain 11% on Tuesday, and that came at a time when Bitcoin had been generally tepid in its performance.

It needs to be kept in mind that most altcoins are now having a bit of a surge this week and among those, the gains made by Ethereum has been noticed the most.

>> Bitcoin Mutual Fund will Help Asian Investors to Trade Cryptos

Although it is true that altcoins have enjoyed a good run over recent days and seem to have turned a corner after having been beaten down for some time, it does not necessarily indicate that these tokens are set to go on a rally. Both 2018 and 2019 so far have been forgettable years for most altcoins.

Ethereum was one of the worst performers of the year so far but the gains made by the coin over the past few days have given rise to a lot of optimism among its investors. Many believe that Ethereum could touch $240 soon.

What do you think?

Featured image: DepositPhotos © yuliang11

If You Liked This Article Click To Share

Dogecoin (DOGE) Gets Support from Tesla CEO Elon Musk

by
Dogecoin

Dogecoin

Tesla (NASDAQ:TSLA) CEO Elon Musk has voiced his support for Dogecoin (DOGE) just a month after offering skeptical remarks regarding the largest cryptocurrency, Bitcoin (BTC).

Musk Publicly Endorses Dogecoin

Musk, who is a huge fan of DOGE, declared his endorsement for the altcoin on March 3 through a tweet. However, his initial tweet was not actually related to crypto but was instead a meme that he captioned “Dogs roc,” which was followed by another tweet stating “they have the best coin,” which was in reference to Dogecoin.

Interestingly, this is not the first time Musk is expressing positive sentiment toward Dogecoin. In April last year, the SpaceX and Tesla CEO tweeted that DOGE was his favorite crypto, indicating at the time that it was pretty cool.

Through collaborative efforts with Jackson Palmer, Dogecoin’s creator, Musk has been fighting against crypto scammers on Twitter. The renowned tech entrepreneur was voted on Twitter to be the CEO of Dogecoin, coming ahead of the likes of Litecoin creator Charlie Lee and Ethereum (ETH) co-founder Vitalik Buterin.

Dogecoin Mainly Used in Tipping Content Creators on Twitter

Dogecoin is an altcoin that forked from Litecoin on December 6, 2013, and it shows a resemblance to the Shiba Inu dog from the internet meme “Doge,” which is its logo. Although the crypto token began as a joke, it expanded fast and gained traction in the crypto community, and by January of 2014, it had a market capitalization of $60 million. Currently, the coin ranks 33rd out of the top 100 cryptocurrencies, with a market capitalization of $307 million.

>> MoneyGram Receives $11 Million Cash Injection from Ripple

The coin is primarily used on Twitter and Reddit to tip content creators and publishers for their creativity. The creators of Dogecoin intended it to have a greater appeal in the crypto industry compared to the Bitcoin audience.

Following the endorsement of the coin by Musk, DOGE has seen a surge in attention.

Featured image: DepositPhotos © jirkaejc

If You Liked This Article Click To Share

Ethereum (ETH) Slumps 50% From Highs in 2019: What to Do Now?

by
Ethereum

Ethereum

Over the past few years, Ethereum (ETH) has firmly established itself as the second biggest cryptocurrency in the world, and although many have predicted that it might one day topple Bitcoin, it has never come close to doing so. 2019 has not been a particularly great time for the token, and despite the fact that the wider crypto space has managed to generate impressive gains, ETH has lagged behind somewhat.

Moreover, it has taken a bit of a pounding over the past two days, and its price has now gone below the psychologically important level of $200. It goes without saying that this piles on the pressure on ETH at a time when Bitcoin is on the verge of another rally.

Analyst Views

According to analysts who study the price action in Ethereum, there has been nothing positive about it at all for the past two months, and currently, no momentum is in sight. In addition to that, the 50-day moving average dropped below its 200-day average this week, certainly not a good sign with regards to the immediate future of the cryptocurrency. Bitcoin went on a remarkable rally yesterday as the bulls won out and returned the cryptocurrency to five figures once again. The rise in Bitcoin, naturally, put some wind in the sail of Ethereum and the token rose by 3%.

>> Ripple Escrow Wallet Transfers Another 500 Million XRP to Company

That being said, the rise did not even see it touch $180, and it should come as a cause for concern for many investors. Ethereum had reached a high of $360 in 2019, but since reaching those heights, it has had a miserable time of it and declined by as much as 87% in the meantime.

The complete absence of any kind of momentum or positivity has seen many in the crypto community criticizing Ethereum in hard terms. It remains to be seen whether the token can gain any momentum soon.

Featured image: DepositPhotos © sadsadang

If You Liked This Article Click To Share

Go to Top