Connect with us

Bitcoin News

Binance’s BNB Token Hits All-Time High in Bitcoin Value

Published

on

Binance Coin (BNB), the token issued via the arena’s greatest cryptocurrency trade via industry quantity Binance, has prolonged its contemporary positive aspects to set a brand new all-time prime in bitcoin-denominated price.

At press time, BNB is buying and selling at 0.002619 BTC ($9.60) however in the past reached 0.002688 at 10:00 UTC Monday – the cryptocurrency’s easiest worth in its complete one and part 12 months historical past, in keeping with information from Binance. 

Binance first indexed BNB for buying and selling on July 14, 2017, and the token has accomplished a just about 9,600 % go back on funding from its December 2017 initial coin offering (ICO) worth of $0.10.

At the similar time, BNB nonetheless has a long way to move earlier than drawing near it’s all-time prime in USD price. Current figures constitute a decline of 58 % from BNB’s USD prime of $22.48 accomplished on Jan. 12, 2018, information from OnchainFX additional finds.

BNB’s BTC-tied prime got here after a duration of sturdy efficiency that performed out during the last a number of weeks.

As may also be observed within the desk under, BNB has considerably outperformed the marketplace chief and international’s greatest cryptocurrency bitcoin during the last 90-days, together with a 35 % building up previously seven days by myself when bitcoin rose simply five %.

BNB’s contemporary enlargement has catapulted it to transform the arena’s 10th greatest cryptocurrency via marketplace capitalization, which now registers $1.33 billion, in keeping with information from Coinmarketcap.com.

While BNB could also be the one well known cryptocurrency to hit a brand new report of types, it has no longer been the most efficient performer.

Data from OnchainFX finds 3 cryptocurrencies have outshined BNB previously seven days together with ARK, Dentacoin, and Theta Token who’ve published positive aspects of 35 %, 43 % and 43 %, respectively, towards the United States greenback.

Disclosure: The writer holds BTC, AST, REQ, OMG, FUEL, ZIL, 1st and AMP on the time of writing.

Binance phone symbol by means of Shutterstock

Like what you learn? Give us one like or percentage it for your buddies
original post…

Bitcoin News

Google Searches for ‘Bitcoin’ Starting to Catch Up With $10K Euphoria

Published

on

Data from Google Trends’ search analytics resource indicates that internet googling of ‘bitcoin’ (BTC) is approaching a monthly high as of today, June 24.

According to the data, searches for bitcoin are continuing their ascent in the week after the unveiling of Facebook’s new cryptocurrency and blockchain-powered financial infrastructure project, Libra, even as searches for Libra itself have tapered off since June 18 — the date the white paper for the forthcoming token was published.

Google trends data for search terms ‘bitcoin’ vs. ‘libra.’ As of June 24 2019

As Cointelegraph noted yesterday, from a wider perspective, the number of Google searches for “bitcoin” remain only around 10% of what they were in 2017 — the year of the top coin’s historic bull run, which peaked at $20,000 in December of that year.

The resurgent public interest is seemingly correlated with the renewed bull market, with bitcoin is currently trading at $10,881, up almost 35% on the month, according to coin360 data.

By country, the top five nations currently googling bitcoin are Nigeria, South Africa, Austria, Switzerland and Ghana — as compared with Uruguay, Dominican Republic, Nicaragua, Albania and Panama for Libra.

As Cointelegraph noted yesterday, the fact that Google trends data for bitcoin remains well below its former peak apparently suggests that retail FOMO has not yet become a major driver of the coin’s renewed price momentum. Instead, several parameters indicate that institutional demand for bitcoin is increasing in lockstep, and that network fundamentals are hitting all-time-highs.

While high-profile industry figures such as Ethereum co-founder Joe Lubin have critiqued Libra over its lack of decentralization, researchers at top crypto exchange Binance, have proposed that the social media giant’s token could spark additional volume in the cryptocurrency space.

At press time, BTC/USD is consolidating under the $11,000 mark — up over 3% over the past 24 hours, according to Cointelegraph’s bitcoin price index.

Like what you read? Give us one like or share it to your friends
original post…

Continue Reading

Bitcoin News

CryptoBridge DEX app launches new mobile-friendly user interface

Published

on

The team of CryptoBridge, a decentralized crypto trading gateway, has successfully launched a new mobile-friendly user interface (UI) for users. Now, users will be able to access the trading platform from any device, while taking advantage of more advanced features.

What is new?

The interface itself is cleaner, more modern and overall more attractive, combined with simpler use of functions such as trading, deposits, and withdrawals. Alongside the “Buy” and “Sell” button, now there is quick access deposit function, in case users run out of assets to complete their desired trade.

At CryptoBridge there are few options for diversified income which are now all accessible directly in the UI itself, under the “Earn” tab. Important information regarding the referral program, BridgeCoin staking, and Trading Competitions, are one click away without the need to leave the trading platform.

Further, to help users understand the full functionalities of the new trading interface there is an icon in the lower right corner where they can quickly access guidance through the currently opened page.

cryptobridgenewui
The CryptoBridge team notes that if coming across any bugs or issues with client functionalities, there is a “Report” button that will open a ticket so developers can check and fix the issue.

Like what you read? Give us one like or share it to your friends
original post…

Continue Reading

Bitcoin News

BIS Wants ‘Level Playing Field’ for Banks Amid Threat From Firms Like Facebook

Published

on

The Bank for International Settlements (BIS), often described as the bank for central banks, has issued its annual report for 2019, expressing concerns over the expected disruption as big tech firms like Facebook enter the financial space.

While titled “Big tech in finance: opportunities and risks,” the report looks at the risks and challenges posed by companies such as Alibaba, Amazon, Facebook, Google and Tencent, and rather pays lip service to the potential benefits of this building fintech revolution.

These firms have developed huge customer bases, says BIS, and have the benefit of a “data-network-activities loop” which gives them ” the potential to become dominant.”

While the encroach of such companies into payments, money management, insurance and lending has only just started, it brings the potential for major change in the finance industry.

On the benefits, BIS writes:

“Big techs’ low-cost structure business can easily be scaled up to provide basic financial services, especially in places where a large part of the population remains unbanked. Using big data and analysis of the network structure in their established platforms, big techs can assess the riskiness of borrowers, reducing the need for collateral to assure repayment. As such, big techs stand to enhance the efficiency of financial services provision, promote financial inclusion and allow associated gains in economic activity.”

However, such change brings new risks, according to the report. As well as the old issues of financial stability and consumer protection, “big techs have the potential to loom large very quickly as systemically relevant financial institutions.” At this point, BIS specifically raises the recent reports of Facebook’s new Libra project, which sees the social media giant “considering offering payment services for their customers on a global basis.”

There are also “important new and unfamiliar challenges” that, BIS suggests, go beyond the remit of current regulations. The report says that “Big techs have the potential to become dominant through the advantages afforded by the data-network-activities loop, raising competition and data privacy issues.”

As such, policies will be needed for a “comprehensive approach” on financial regulation, competition policy and data privacy regulation.

“The aim should be to respond to big techs’ entry into financial services so as to benefit from the gains while limiting the risks. As the operations of big techs straddle regulatory perimeters and geographical borders, coordination among authorities – national and international – is crucial,” according to the report.

In a somewhat telling statement, BIS further reveals its fears that banks could lose ground to the new big tech disruptors saying:

“Regulators need to ensure a level playing field between big techs and banks, taking into account big techs’ wide customer base, access to information and broad-ranging business models.”

And with such major companies having the ability to work across borders, international coordination is needed on rules and standards to address the potential shift in the “risk-benefit balance,” says BIS.

As the report suggests, Facebook’s crypto project may not have an easy time with the world’s regulators as the firm seeks to launch financial services for its billions of users.

France has already moved to create a task force within the G7 nations to examine the issues raised by Libra, while U.S. lawmakers have also expressed concerns over the project.

BIS headquarters image via Shutterstock

Like what you read? Give us one like or share it to your friends
original post…

Continue Reading

Bitcoin News

Ethereum’s Constantinople, St. Petersburg Upgrades Have Been Activated

Published

on

The Constantinople and St. Petersburg network upgrades for the world’s second largest cryptocurrency, Ethereum’s (ETH), occurred today Feb. 28, according to ethstats.net.

Specifically, the updates went live on the main network at block 7,280,000, in accordance with previously released schedule. Although the upgrade has two names of two originally separated updates, they have subsequently been combined into one.

Per Ethernodes.org, not all Ethereum users have adopted the updates. Only 22.3 percent of Geth and Parity clients are reportedly already running the Constantinople-compliant version.

Constantinople is set to bring multiple efficiency improvements to the platform, including cheaper transaction fees for some operations on the Ethereum network. As previously reported, the Constantinople hard fork was delayed in January due to a newly discovered vulnerability.

The St. Petersburg upgrade is meant to delete a previous update, Ethereum Improvement Proposal (EIP) 1283, from Ethereum’s test networks, since that EIP had been identified to have security vulnerabilities.

In January, major United States cryptocurrency exchanges Coinbase and Kraken became the latest to confirm support for Ethereum’s upgrade. The two exchanges join Binance, Huobi and OKEx, who had started to monitor the event before its first implementation attempt.

At press time, ETH is up 2.59 percent over the day and is trading at around $137.19. The altcoin started the day around $132, according to CoinMarketCap.

Like what you read? Give us one like or share it to your friends
original post…

Continue Reading

Bitcoin News

Bittrex Leads $1.5 Million Seed Round in South African Crypto Exchange VALR

Published

on

Global crypto exchange Bittrex led a $1.5 million seed round in South African trading platform VALR.

Bittrex CEO Bill Shihara told CoinDesk the South African market has “tremendous untapped potential.” Fellow VALR investor Michael Jordaan of Montegray Capital told CoinDesk that VALR’s support for 50 cryptocurrencies will offer the most diverse range of assets of any African exchange when it opens to the public on March 1.

“The VALR team has the potential to change the cryptocurrency landscape in South Africa and globally,” Jordaan said.

VALR co-founder and CEO Farzam Ehsani told CoinDesk that 1,500 users, predominantly South Africans, have already signed up on the exchange’s waiting list and started activating accounts in a closed beta leading up the to launch.

Ehsani said a backend partnership with Bittrex will offer the new exchange global liquidity and competitive prices for crypto-to-crypto trading, while his team works on activating fiat on-ramps with South African banks by summertime.

Ehsani told CoinDesk:

“Companies are not allowed to go and buy [large amounts of] crypto from offshore markets. This makes it very difficult for crypto exchanges in South Africa to access liquidity from international markets. [South Africans] want their hands on a store of value that doesn’t depreciate the way the rand has.”

Over the past decade the South African rand has nearly halved in value. Meanwhile, capital controls restrict citizens from transacting across borders with more than roughly $72,000 worth of foreign assets or currencies.

This contributes to why bitcoin is often sold for a high premium on peer-to-peer exchanges like LocalBitcoins. For comparison, on Tuesday a single bitcoin on LocalBitcoins would have cost more than $4,100 in South Africa compared to the global rate of roughly $3,800.

Yet Marius Reitz, South Africa manager at the longstanding African bitcoin exchange and wallet provider Luno, told CoinDesk that Luno’s user base grew to over 2 million user accounts by early 2019.

“Most of the growth is driven by South Africa,” Reitz said. In fact, a Luno survey of 1,000 local residents found that roughly 167 people said they use bitcoin for payments.

“Specifically in South Africa we see a situation were a lot of people move from elsewhere in Africa to look for jobs and they send money back home,” Reitz said.

As for VALR, Jordaan said Ehsani’s history as the former head of the Rand Merchant Bank’s blockchain initiative and inaugural chair of the South African Financial Blockchain Consortium, which included dozens of traditional financial institutions, could help bridge the gap between African banks and the global crypto economy.

Regional hub

Reitz and Jordaan agreed that cryptocurrency exchanges like VALR and Luno are helping establish standards for the regional market. Plus, the South African Reserve Bank published a paper about prioritizing crypto industry regulation in January. While the daily volumes on incumbents like Luno, established in 2013, still fall shy of $2.5 million according to CoinMarketCap, such companies have a broad impact through their educational conversations about bitcoin with regulators and banks across Africa.

“Because several of the countries around us actually peg their currencies to the rand,” Ehsani said, “if we do well, we have the ability to influence other countries in the region, and Africa as a whole.”

Ehsani added that VALR’s scope reaches beyond South African borders, as the platform’s know-your-customer identity checks accommodate traders from most countries. Similarly, Reitz said Luno is looking to expand to 20 new African countries this year as South Africa’s central bank starts “offering more clarity” and establishes trends followed by other jurisdictions.

Much like global markets, many South African exchange users are speculative traders and investors. However, for Ehsani, remittances to and from members of the African diaspora provide a salient use case because local remittance services are very expensive.

Speaking to the impact that venture capital investment in South African exchanges can have on broader adoption, Ehsani said:

“Cryptocurrency will start bringing communities together through their ability to transact and send value back home much more seamlessly and cheaply than their current options.”

Farzam Ehsani image via VALR

Like what you read? Give us one like or share it to your friends
original post…

Continue Reading
Advertisement

Recent Posts

Copyright © 2019 The Crypto Report