The Binance Coin (BNB) is Able to Register New ATH of $148.7 as Price Soar by 200%

The Binance Coin (BNB) was able to register a new ATH of $148.7 as the price soar by 200%. The native token of the Binance Smart Chain soared after breaking the $100 price on Tuesday. 

A news post on coingape stated that Binance Coin BNB was able to register a new ATH of around $148 that is a rise of 200%. This makes it one of the best performing altcoins. Yesterday, saw it face slight resistance of $80 and $100.

The colossal price rally also enabled the BNB to race past Ethereum based with the regular transaction volume. Why this sudden rise in the price? Market analysts have pointed out that it could be due to the rise in popularity of the Binance smart chain.

Today, BSC is used for providing transactions as Ethereum is getting a setback because of the rates of its gas fees. CoinGape offers crypto-related news, insights, reviews, and price analysis had this to tweet on BNB Registers New ATH of $148.7.

BSC was able to raise nearly $300K in transaction fees. This despite the fact that the Binance smart chain is must cheaper than Ethereum. A key thing to note here is that the rising gas fee for Ethereum is making BSC the largest profits.

The Ethereum is trading ATH of more than $1800. However, the rising gas fee is hurting the network often. It is coming back to do the same. This is the ideal opportunity for Binance smart chain to turn up the heat on Ethereum. 

The low gas fees from BSC are making it an attractive option for traders settling ERC-20 transactions in the market. Unfortunately, BSC is not decentralized. Many traders are using Binance smart chain for returns of the transaction value. 

This works better than Ethereum. Just last week, Binance Coin was able to go past by more than 27% on the charts. Besides, it could hit a new ATH in the market that can project greater heights in the near term.

In the month of December last year, 2020, when BTC shrunk to $26,000, Binance Coin was able to change gear and make a new all-time high of almost $40. The BNB surges recently are due to the sharp profits earned in trading volume.  

China’s Very Own ‘Blockchain Village’

You may think China is closed in terms of adopting Cryptocurrency given the tight regulations. However according to reports, a Chinese village in the Wenzhou Zhejiang region, Yuedong has adopted digital currency quite openly.

Yuedong has played an essential role in Cryptocurrency’s culture in China. An individual from the city called Yang Linke was the co-founder of China’s first Bitcoin exchange which was called Btcchina. Yeudong also has a river with crypto related logos on its sides.

An astounding 60 to 70% of citizens in the so-called ‘Blockchain village’ know about Blockchain technology or have invested in Cryptocurrencies.

Current Scenario of Cryptocurrency in China

China is known for prominence in the Crypto mining field and Blockchain development. However, Cryptocurrency trading only occurs behind closed doors.

As soon as the Crypto ban took effect in China last year, trading volume drastically fell around the world given the population of Chinese who were involved with Cryptocurrencies.

The Unknown Chinese Blockchain Village

The Blockchain village was unknown about until Chinese social media shared several images of the Cryptocurrency logos in the village. These logos include ten different Cryptocurrencies such as BTC, ETH, ETC, BNB, and ONT.

It is slowly becoming an attraction, especially among Cryptocurrency enthusiasts, with plans of a Blockchain theme part being built.

What this means for the Future of China

Apparently the Wenzhou government officials have not resented the cryptocurrency theme surrounding the village but instead reacted positively. Many of the villagers are developed decentralized applications, and Wenzhou is noted to have its own EOS node.

It looks like Cryptocurrency may be on a break in China, and things may start to change soon. It may depend on if the Blockchain Village proves to be beneficial to the Chinese economy and employment levels.

The Raven’s Dispatch – July 13, 2018 – $25 million stolen from Decentralized Exchange, Bancor

$25 million stolen from Decentralized Exchange Bancor

Hack Hacking Haxxors

Another day, another hack. It seems like no exchange is safe out there, not even the decentralized type. If you recall DEX Exchanges were supposed to offer greater security due to their decentralized set up. Guess the jury is still out on this one. Whatever your stance so many hackings have taken place it makes you wonder if these exchanges are doing too little to tighten security. Bancor was hacked, again, for $13 million after one of the their upgrade wallets was compromised. The vast majority stolen was Ethereum.

After raising $150 million in their ICO, you would think Bancor would have invested some of that in their security procedures. Read more about it below. Let’s get this dispatch rocking! (I’m trying new lead-ins, ok. Cut me some slack)

The top 5 looks like it’s locked in for the near future. The overall cryptocurrency market dropped week to week from $267bln to $249bln representing a 6% decrease in the past seven days. No drastic moves or bart patters this week even with the Bancor hacking news AND the mining hack. It’s been a rather poor week in the news cycle for our beloved crypto. Raven's Dispatch

Bitcoin (BTC): BTC struggled this week and nestled into the $6,200 support, for the time being. 2018 sucks y’all. This represents a drop of 4%, not bad considering the swings many crypto enthusiasts  are accustomed to.

Ethereum (ETH): It’s getting boring watching ETH do what BTC does. Week to week ETH sank 6% $439 as of this post. Ethereum continues to be the poster boy for a gre place to develop DAPPs but other chains and projects are catching up. With Caspers successful release to update Herrumbres economic consensus protocol, things seem pretty hum-drum here.

DASH (DASH): Dashcoin cryptocurrency was created on 18 January 2014 by its developer Evan Duffield and was originally released as XCoin (XCO).  In February of the same year (2014), the name was changed to “Darkcoin.” Moreover, on 25 March 2015, Darkcoin was rebranded as simply “Dash”. Quite the saga, huh?

As it stands, Dash users can now opt for full privacy in their transactions and remain completely anonymous, thanks to Evan Duffield. Dash has three main features: speed of transactions, masternodes and private send. As you can see in 2017 DASH reached all time hish peaking at $1,600 per DASH but like the entire crypto market has retraced to $226 as of this post. Can you imagine how much the Masternode owners must have raked in during that run? Well played to those that got in early and believed in the project.

If you want to know more about DASH check out our guide!

Dashcoin Lifetime


Win a FREE copy of ‘An Altcoin Traders Handbook’ – We are giving away 3 copies of Nik’s popular book  ‘An Altcoin Traders Handbook‘. How do you enter to win? Sign up for our newsletter and we will select three winner on Monday, July 16th, 2018. Do it! is launching a new decentralized Ethereum game – (OLY) is a new decentralized game in which users can interact by acquiring, improving and trading virtual cities.  It is a new decentralized game in which users can interact by acquiring, improving and trading virtual cities. Read on for more details!

Sleeping Giants of Crypto – While the January crash wiped a huge chunk of market cap off the map with aftershocks rippling through the marketplace ever since, there are a number of projects that have weathered the storm well and continue to show promise for the future. Is your favorite project on the list?

What Are Exchange Tokens? – A recent trend in the crypto space has seen exchanges listing their own custom cryptocurrency tokens, generally offering a trade fee discount when the tokens are used. Binance is often credited with kickstarting the trend into mainstream use with the highly successful BNB token, and other exchanges have followed suit. So how do all these tokens measure up, and what do they do exactly?

New Github Repository Catalogs Physical Bitcoin Attacks – Cryptocurrency hacks have always been a thorn in the side of crypto enthusiasts. It seems like we can’t go a few months without a major theft taking place.  Jameson Lopp, created an open source repository to catalog and list all known physical bitcoin attacks/thefts. Check it out, it’s fascinating stuff. And a lesson. Because if anything we here at Crypto is Coming want to share teachable mome….lol I can’t finish that.

Vitalik Buterin Says Centralized Exchanges Can Burn In Hell – Sassy. We love it. Outspoken Ethereum co-founder, Vitalik Buterin, has hit out at centralized exchanges, saying that he hopes they “burn in hell as much as possible” while speaking to John Evans of TechCrunch. He has mirrored the opinions of divisive self-proclaimed voice of cryptocurrency, John McAfee.

Check our Crypto Swag store on Teespring – We’ve got new designs, Go, consume, support Crypto is Coming. Kisses

Visualizing the ICO Explosion – The ICO market exploded in 2017. We saw Billions of dollars pour into crypto through this new crowdsourcing vehicle. Take a look at the infographics below from the crew at

Litecoin Foundation and TokenPay buy stake in WEG Bank AG – Litecoin founder, Charlie Lee, announced via twitter this morning that the Litecoin Foundation and Token Pay have entered into a partnership to buy a stake in German bank, WEG Bank AG. IN acquiring this stake, they hope to work on consumer driven cryptocurrency solutions for Litecoin and other cryptos.

Opera Launching A Browser With Built-In Crypto Wallet Functionality – Opera has announced that it is launching a new Android based browser that will incorporate a cryptocurrency wallet directly in the software. The browser will support the Ethereum Web3 API, and this function means that users will no longer have to open a separate browser to send and receive payments or check their crypto balance.

What Happens When The Bitcoin Reaches 21 Million And Mining Reward Runs Out? – Bitcoin transactions can only be verified by mining, a process in which powerful computers solve complex algorithms in order to add new blocks of verified transactions to the blockchain. What happens when there is no more reward? Check out our latest piece from Conor.

From Nick Szabo to Naval: The best crypto twitter threads of the week – We all know Cryptocurrencies are at the forefront of innovation in finance and tech. But the people involved in crypto are also leading the way, fighting in the intellectual battle ground that is crypto twitter to see which ideas gain strength and which die off.


Another hack rocks cryptocurrency trading: Bancor loses $13.5 million – The alleged hack has raised questions over the validity of the start-up’s “decentralized” system. This week, the start-up said that a wallet being used to “upgrade” smart contracts was compromised. This wallet was then used to withdraw $12.5 million in Ethereum (ETH), alongside $1 million in Pundi X (NPXS) and $10 million in Bancor Network Tokens (BNT).

Binance to Record $1 Billion Profit in 2018, Surpassing Major Banks – The cryptocurrency market has dropped by over 70% since the start of the year, but the world’s largest crypto exchange is still expected to rake in a hefty profit.

Ledger launches Ledger Live, the all-in-one companion app to your Ledger device – Ledger Live is a new all-in-one companion application for your Ledger device that runs on Windows, Mac and Linux. We’ve built Ledger Live from the ground-up to deliver a feature-packed, yet user-friendly experience for both power users and newbies.

Bank of Korea Says Cryptocurrency Poses Little Risk to Domestic Market – The Bank of Korea (BOK) recently announced that cryptocurrencies pose little risk to South Korea’s domestic market, Cointelegraph reported. The analysis comes in the wake of the institution’s publication of a report covering the influence of virtual currencies in the country’s financial industry.

Malta is Creating a Decentralized Bank with the Help of Binance – Binance is seeking to use Malta as the base for a new bank that will be owned entirely by cryptocurrency investors–the world’s “first decentralized, completely community-owned bank,” according to a Bloomberg report.

Robinhood Adds Bitcoin Cash & Litecoin Trading, Will Support Crypto Transfers – All aboard! Rapidly-expanding fintech unicorn Robinhood has added bitcoin cash and litecoin to the growing stable of cryptocurrencies that users can trade on the popular stock trading app.

100 Merchants Invited to Risk-Free Trial of Lightning Network – Did we ever mention we love of chain solutions? A few lucky merchants now have one less obstacle to accepting bitcoin payments via the Lightning Network.

Crypto is not a Bubble, Says Bernstein Analyst – Bitcoin is not a classic bubble, but still be ‘suspicious,’ says investing expert William Bernstein. Thanks the for advice, Will.

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What Are Exchange Tokens?

A recent trend in the crypto space has seen exchanges listing their own custom cryptocurrency tokens, generally offering a trade fee discount when the tokens are used.

Binance is often credited with kickstarting the trend into mainstream use with the highly successful BNB token, and other exchanges have followed suit. So how do all these tokens measure up, and what do they do exactly?

BNB Token

BNB token provided key funding for Binance via the ICO, and it now serves numerous important functions. The BNB token keeps to the ERC20 token standard and runs on the Ethereum blockchain natively. Incredibly, the coin is ranked no 17 by market cap out of the 1600+ existing cryptocurrencies, and had a 24 hour trade volume of $24.8 million at the time of writing.

Worth $1.4 billion in total and trading at $12, the coin is very widely used and at an original issuance price of $0.1553 the coin has increased in value thousands of times for the early investors who thought to buy when it was released.

Binance will use 20 percent of the profits from every quarter to buy back and then burn BNB. It will continue this process until the supply of BNB is 50 percent of the original amount, with 100 million BNB remaining. Every buyback transaction conducted by Binance to burn BNB will be announced via the blockchain for transparency.

“Every quarter, we will use 20% of our profits to buy back BNB and destroy them, until we buy 50% of all the BNB (100MM) back. All buy-back transactions will be announced on the blockchain. We eventually will destroy 100MM BNB, leaving 100MM BNB remaining.”

This approach enables traders to participate in zero-fee or low-fee trading, transforming the market as we know it. Exchanges still need to remain profitable, and the method of releasing custom exchange tokens allows for further decentralization of the space.
Binance is one of the few tokens to perform well during the recent bear market, climbing the ranks to 17 making it by far the most widely used exchange token – but it’s not the only one. With decentralized exchanges becoming more developed and Binance developing its own decentralized exchange, these tokens are one of the means by which major companies and projects can remain incentivized to provide a decentralized trading platform that works well while still profiting (by investing in their own token).
This process is explained below by Dr. Mohamed Fouda.
” The conversion of trading fees to the native exchange token creates a large buy demand pushing the token price higher. Meanwhile, from a trader perspective, the trader is getting these token for free. For traders, a trading fee is a loss inherent in using any exchange. However, in trade-driven mining, a trader gets tokens to reimburse this trading-fee loss. The trader can immediately sell these tokens to BTC, ETH or tether or can keep them for a while as long as their price is increasing.”
Take a look at the BNB coin chart. Buy the dip?

CET Token

Fouda goes on to state that the first exchange to apply this approach was FCoinOfficial from China, then followed by CoinEx launching CET token. CET token was issued in February 2018 as an ERC20 token with a fixed supply of 10 billion tokens with the team initially holding 50% of the tokens.
“On June 20, 2018, the exchange announced its plans to implement trade-driven mining along with dividend distribution to all CET token holders. This caused a huge rally in the token price. The token price jumped from around 1 cent to 5 cents in one day. With the program start on July 1st, investors rushed to buy CET to get daily dividends (80% of the exchange trading fees) causing another significant jump in the CET token price to around 15c. If you do the simple math, the CoinEx team CET stake has increased by $700M in value in less than 15 days.”

CoinMetro – XCM Token

CoinMetro is a start-up exchange that is hoping to get started in a similar way to Binance with an ICO. They will also focus on easily assimilating ICO’s into their trading platform to offer high risk-high reward situations to traders. However, one key distinguishing characteristic of CoinMetro will be that users will have access to fiat.

XCM tokens will reduce fees in trading and offer a buyback program as well.

EthFinex – Nectar token

Nectar (NEC) is the token for the decentralized Ethfinex platform. With a market cap of $29 million the token is trading at $0.35.

The token serves two primary functions:

  1. To incentivize market orders and platform liquidity
  2. To decentralize governance

To incentivize liquidity, market makers are rewarded with NEC to increase liquidity. At the end of every 28 day cycle, NEC is then distributed to these market makers proportionate to their total trading volume. This is significant because these traders can either trade NEC with other whitelisted cryptocurrencies, or they could hold them.

The token can also be used to vote on what tokens will get listed on the exchange.

Huobi token

Huobi token allows users to trade against popular tokens like BTC, ETH, and USDT as well as offering buybacks, VIP Discount, Liquidity Protection, Deposit of certified merchant, HT exclusive events, Trade Against Popular Coins, and token voting.

“Buyback and Huobi User Protection Fund

Each season, Huobi Pro buybacks certain portion of HTs on the open market.
All the bought-back HTs will be held in the Huobi User Protection Fund.
The bought-back HTs will beused to protect users’ interested and compensate for their losses in cases of emergency.”

The total supply is 500 million, and the token is trading at $3.15 with a total cap of $157 million.

As more exchanges launch their own custom tokens, users get a more diverse market experience by participating in low-fee trading and voting on which tokens will be lsited next – even on decentralized exchanges. With decentralization being a huge question in the space, it’s interesting to see the different methods used to try and apply it, and the exchange tokens are one of the most adopted methods being used to date.

Crypto is Coming.

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Interested in other cool crypto posts….check out What happens when the last Bitcoin is mined?and The Price of Bitcoin vs Cost of Mining.

Total Dominance: The Story of Binance

When people think crypto exchange, Binance is usually the first thing that comes to mind.

The exchange has seen meteoric growth, reaching the highest volume of any exchange just six months after launch and valued at almost $2 billion within the same time frame, making it the fastest ever platform to reach ‘tech unicorn’ status.


Binance recently celebrated the year anniversary of the platform’s conception by the team, making it a fitting time for an overview of the exchange, how far they’ve come, and obstacles met along the way.

The Early Days

Binance was founded in China 2017 by Changpeng Zhao and Yi He, both of whom worked previously at OKCoin – Zhao was the CTO for a short while. The project raised $17 million in the good old days of 2017 when ICOs were a little more… modest than the behemoths of today’s crypto space and pioneered the use of native exchange tokens with the launch of BNB token which offers traders a 50% discount on trading fees, a model that has since been adopted by other exchanges.

The project has since relocated multiple times due to harsh regulations in their local region, expanding to Japan and Malta to pursue more lenient regulations.

Since then they’ve had their share of legal battles and expansionary initiatives. Let’s start with the good stuff.

International Initiatives

Binance established their new global compliance center in Bermuda, a small island territory with a population of 65,000. Through the Binance Charity Foundation the company put up $10 million towards local educational programs related to blockchain technology and an additional $5 million investment in local blockchain startups, creating 30 jobs for locals and 10 for external staff.

$15 million goes a long way in such a small place, hopefully allowing Binance to make a significant impact both long and short-term in the local economy, and hey – it doesn’t hurt to buy a little goodwill in the place where your compliance center is set up, right? This interesting and no doubt prosperous partnership had the added bonus of featuring Zhao looking perfectly at home in the traditional business attire of the island, Bermudan shorts.

Looking sharp, Zhao.

Binance turned their gaze to East Africa, partnering with local organizations in an effort to bolster the Ugandan economy and benefit from opportunities in the nation.

Binance met with the Ugandan president and held an open meeting with the Blockchain Association of Uganda, who quoted Zhao as saying:

“Binance is tailor-making partnerships according to the environment. We want to understand the landscape and grow our understanding of the market.”

Binance later announced that they would be continuing their work in other African nations in future.

Legal Battles

The saga continues with Sequoia Capital VC firm taking Binance to court in Hong Kong over an alleged breach of contract that resulted in Sequoia missing out on a profitable investment in the blossoming exchange.

In the unlikely event that you’re not a venture capital funding enthusiast, Sequoia Capital provided seed funding that helped catapult companies like Google, Apple, Paypal, and Yahoo! to success, making them officially a big deal.

Sequoia were negotiating a round of funding for Binance in exchange for an 11%  share of the company valued at $80 million. The VC firm proposed two rounds of funding valuing the crypto-exchange at $400 million and $1 billion respectively, but the sudden growth in the December market led Binance shareholders to rethink the proposition.

Binance looked for a second opinion and ended up going with IDG Captial who partnered with Binance valuing the company at $1 billion from the outset. Sequoia didn’t take kindly to being sidelined and convinced a high court judge in Hong King to issue an injunction preventing Binance from collaborating with other firms, claiming that the exchange broke an agreement between them by seeking outside funding.

The injunction was big news, although the VC firm received criticism for stalling the funding process while they continued to negotiate with Binance to prevent them from landing a deal in the meantime. The injunction was overturned in a matter of days, and Binance fired back by stating that they may need to ask crypto-projects seeking a listing to disclose any involvement with Sequoia before proceeding with the listing.

This was essentially some good old fashioned revenge tactics, putting upcoming projects in the tight spot of choosing between a leading crypto exchange and a leading VC firm, a choice that would probably work in Binance’s favor (there are a lot more venture capital firms than top-dog crypto exchanges with Binance’s influence on the market). The statement alone likely discouraged many projects from giving SC their business, and probably discouraged anyone from ever crossing Binance to boot.

DEX and Investment Fund

In May Binance announced the development of a native blockchain and a decentralized Binance exchange, a move seen as the forward-thinking project hedging their bets and protecting themselves from increasingly harsh international regulation by creating a DEX with no leadership and no legal accountability, cementing their position as a leading exchange regardless of the regulatory climate.

“Binance was growing too quickly, and too busy to start anything else. So, all we could do is to just start one more Binance. “

Earlier this month Binance announced a $1 billion investment fund, something that could see the exchange graduate from A+ crypto startup company to an entity that could end up rivaling the big players in traditional venture capitalism as well (shouldn’t have messed with Binance, Sequoia).

The Community Influence Inc. fund is aimed at helping emerging startup companies and other funds as well, with the funds being comprised of Binance’s own BNB tokens.


Now that you think Binance is the best thing to hit crypto since Doge memes, it’s time to take a look at the other side of the coin.

Binance, along with other major like OKex and HitBTC, has been accused of falsifying trading volume by as much as 92% to mislead investors as to the profitability and profile of the exchange.

A study in March 2018 found that trading volumes were significantly inflated. Crypto-trader Sylvian Ribes said:

“I found ridiculously massive discrepancies between exchanges. Not the kind that can be easily hand-waved away (“oh well, their users must behave differently”), but the kind that can only be explained by some figures being overstated as much as 95%.”

That said, Ribes was mostly taking aim at the other exchanges mentioned, particularly OKex, saying:

“It could however serve well to keep a close eye on Binance claimed volume in the future, although inspecting their volume history does not show any obvious suspicious activity.”

So we can probably put away the pitchforks for now, and keep that as a reminder to always stay frosty in the hectic world of cryptocurrencies.

All told, Binance’s story is a highly impressive one – I wonder what they’ll do next?

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