Game Changer: Binance and LCX Crypto Exchange Joint Venture
Nobody puts Baby in the corner. Since it’s inception in 2017 Binance has dominated the crypto exchange world. Binance reached the highest volume of any exchange just six months after launch and valued at almost $2 billion within the same time frame. Crazy growth.
And the story doesn’t end with massive volume, it continues with Binance expanding with international initiatives in Bermuda, East Africa (Uganda), Malta and now Lichtenstein. The successful joint venture of Binance and Liechtenstein Cryptoassets Exchange (LCX) heralds the launch of a fiat-to-crypto exchange: Binance LCX. This, ladies and gents, is a game changer. For in depth understanding of the venture check out our latest piece here.
The overall cryptocurrency market has shown strong signs this past week growing from $216bln to $232bln representing a 7% increase. If you are on Crypto Twitter then then you may attribute this to crypto twitter personality Romano recently eating a$$. Or it could just be that the bears have lost steam (I prefer the former explanation). Could the bear market be coming to a close? Along with bitcoin the top 5 (and top 100) also surged as evident from belows screencap from Livecoinwatch.
Bitcoin (BTC): Never a dull moment in the crypto market. If you wan’t peace, head over to the stock markets. We be riding a ragin’ bull here. Week to week we experienced a very nice bump in price returning to $7,000 and settling on $7,065 as of this post. This represents 5.7% growth. We’ve been in this bear market for 8 months, are we seeing a turnaround?
Ethereum (ETH): Showed more sideways movement compared to Bitcoin but positive nontheless. ETH has taken a beating since July so any news that is positive is good news. ETH currently sits at $281 as of this post experiencing a slight increase of 3% week to week.
Neon Exchange (NEX): NEX, also known as Neon Exchange, is a platform for payment services and decentralized crypto trade. NEX aims to combine the performance of centralized exchanges with the trust and security features of decentralized exchanges.
What makes NEX different from other DEXs? Crypto enthusiasts are all looking forward to a day when one can have cross-chain transactions. Imagine sending bitcoin tokens to an Ethereum wallet. Well, NEX is bringing that reality closer by allowing trades between Ethereum networks and tokens based on the NEO platform. It’s apromising project which recently announced their Public ICO.
If you are interested in to learn more about NEX check out our what is guide here for more details.
WHAT’S NEW AT CRYPTO IS COMING
What is Ethereum’s Casper update? – Casper is Ethereum’s chosen Proof of Stake protocol, headed up by team leader Vlad Zamfir. The protocol implements a process the dev team claims can punish malicious elements.
Singapore teams up with Deloitte and NASDAQ to develop blockchain technology – In a remarkable development the Singapore Exchange (SGX) and the Monetary Authority of Singapore (MAS) has announced that they will launch a collaborative effort to develop a hi-tech Delivery versus Payment (DvP) platform.
What Will Bakkt Do For Crypto? – The Intercontinental Exchange, operator of the world’s largest stock exchange, launched Bakkt, a global cryptocurrency platform allowing private and institutional investors alike to buy, sell, store, and spend digital assets like Bitcoin. The crypto market cap is about to explode. Yippee ki-yay.
What Is Bitcoin Second Layer Rootstock (RSK)? – Rootstock is an open-source smart contracts platform that allows seamless DAPP development and more miner rewards through merge-mining. At the foundation, RSK will be a scalability solution to Bitcoin.
Crypto Transactions in Russia Might Have to Be Reported Very Soon – A government official has proposed a law which would force Russians to report any crypto transactions above $9,000. The parliament has now to decide how to proceed next.
UBS Bullish on Blockchain, Bearish on Bitcoin – Don’t tell that to the bulls trying to turn around the market. CEO of Swiss investment banking giant UBS, Sergio Ermotti, came out with a bold claim recently. He said that blockchain was “almost a must” for business.
Samsung SDS launches blockchain-powered banking certification platform – Samsung SDS, a subsidiary of South Korea’s largest IT company, has announced that it has created a banking certification platform called ‘BankSign’ based on blockchain technology.
Hong Kong immigration policy to attract Distributed Ledger Technology talent – The latest immigration policy is a testament to Hong Kongs efforts to attract distributed ledger technologies (read: Blockchain) expertise to their market.
Cryptocurrency Demand Remains High in the Malaysian Markets – Asia and the Pacific are well on their way to accepting crypto (no matter how hard China tries to shut it down). The Malaysian cryptocurrency markets remain strong despite the massive decline in price throughout the year.
CRYPTOCURRENCY NEWS FROM AROUND THE INTERNET
A Programmer Ate Ass to Save Cryptocurrency – Cryptocurrency prices are down, so a developer met up with cryptocurrency enthusiasts and adult film performers Brenna Sparks and Bobbi Dylan to eat some ass and save the market.
Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) Now Tradable On Yahoo Finance – Cryptocurrency adoption has gotten a new dimension now that Yahoo Finance has integrated the buying and selling of Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC) on its platform.
SEC Taking Second Look at Nine Bitcoin ETFs that were Denied Wednesday – One day after the U.S. Securities and Exchange Commission (SEC) rejected proposed rule changes for nine bitcoin ETFs, the Commission initiated a review of all related decisions. That pain you feel in your neck, don’t worry it’s only whiplash.
‘Bitcoin should not EXIST!’ Wolf of Wall Street baffled by price rise – warns of ‘scam’ – Classic example of the Pot calling the Kettle black. The Wolf of Wall Street Jordan Belfort hit out at the cryptocurrency and said investors are “brainwashed”.
China’s Search Giant Baidu to Censor Crypto Discussion – The great crypto firewall of China is real. Baidu has recently started censoring cryptocurrency-related discussions on its online forums. The search giant’s move is in line with China’s crackdown on cryptocurrencies.
Coinbase UK CEO Explains Why a Lack of Regulation is the Biggest Problem Facing Cryptocurrency – Zeeshan Feroz, CEO of Coinbase UK, spoke with CCN recently about the recent developments in the cryptocurrency exchange industry and the space as a whole.
Ethereum (ETH) Wale Moves 20,000 ETH Tokens Worth $5.5 Million to Bitfinex – An anonymous individual considered to be one of the very first Ethereum investors has moved approximately 20,000 ETH coins to Bitfinex.
Tom Lee Remains Firm on His $20K BTC Target, VC Anthony Pompliano Predicts Downfall – Bears vs Bulls…FIGHT! Popular crypto analysts Tom Lee and Anthony Pompliano share contradictory views on when Bitcoin is headed next. Take a look at what they have to say.
India’s Central Bank Sets up a Blockchain Unit – The new department will work to strengthen the knowledge of the Reserve Bank of India on new and emerging financial technologies.
Gossip Mag Claims Bill Cosby is Using Bitcoin to Hide His Fortune [He’s Probably Not] – An online gossip magazine claims to have insider information that disgraced actor Bill Cosby is using bitcoin to try to conceal what remains of his fortune from his creditors.
Four out of five executives surveyed by PwC report blockchain initiatives underway – 84% of executives surveyed by PwC report blockchain initiatives underway – 15% fully live. The new research from PwC surveyed 600 executives in 15 countries and territories, on their development of blockchain and views on its potential.
New Data From CFTC Shows Bearish Bitcoin Futures Are on the Decline – Bearish positions for non-commercial contracts of Bitcoin (BTC) futures are on the decline, according to the latest Commitments of Traders (COT) report released by the U.S. Commodity Futures Trading Commission (CFTC) August 24.
Ripple CTO: XRP More Decentralized Than Bitcoin (BTC) And Ethereum (ETH) – Oy vey. “Bitcoin and Ethereum are currently viewed as the gold standard for decentralization…Since these blockchains are considered decentralized, then by design, the XRP Ledger is also — if not more so — decentralized than both Bitcoin and Ethereum.”
World Bank launches world-first blockchain bond – The World Bank has priced the world’s first public bond created and managed using only blockchain in a A$100 million ($73.16 million) deal designed to test how the technology might improve decades-old bond sales practices.
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