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Binance and Paxos Stablecoins about to Get U.S. Regulatory Approval

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As stablecoins are getting popular among the crypto world, we keep seeing new stablecoins coming in the market almost every week. In the past few weeks, two new stablecoins have emerged; the first one got launched by Paxo’s gold-backed Ethereum token, PAX Gold (PAXG), and the other one by Binance, BUSD that is backed by the U.S. Dollar.

As technology keeps evolving, different solutions have been presented to counter several problems that were occurring in the crypto sphere. Stablecoins are the solution to the volatility of the market as these digital assets are pegged with fiat currencies or any other asset.

About a week ago, Binance in collaboration with Paxos announced that they are going to launch a stablecoin backed by U.S. Dollar, BUSD. Paxos has already created such other stablecoins including, TrueUSD (TUSD), Gemini Dollar (GUSD), USDCoin (USDC), and also the Paxos Standard (PAX). All these Paxos developed stablecoins have received clearance from the regulatory authorities of NYDFS.

https://twitter.com/blocksumgroup/status/1174165675641835521

Paxos will be the custodian and issuer of BUSD tokens. An auditing process will take place each month and users will need to complete KYC while buying the token from Binance or Paxos. Binance with time has grown into a global network and it is one of the trusted crypto networks in the market. This collaboration is a new step towards bringing stability to the crypto world.

Paxos is an international crypto-asset firm that announced the release of its PAX Gold token, not too long ago. The firm affirms that its latest stablecoin project will be the first among crypto assets to redeem their token against the physical gold. Moreover, the U.S. regulatory, NYDFYS (New York Department of Financial Services) has received a regulatory nod of approval for the stablecoin PAXG.

If PAXG receives approval from the regulatory authority, it will be their first gold-backed crypto that will be available for trading to New York residents.

The Paxos gold tokens, each will be backed by one fine troy ounce of gold from London Good Delivery. The gold will be stocked across hidden cells all over London and if the users would have any concern regarding their assets, they would have the option to have complete control over their assets (gold) that will be linked with their holdings. Moreover, the users will also be allowed to move their tokens like any other ERC-20 based crypto.

These features give an edge to PAXG and make it a lot easier for users to have access to their assets (gold) without any sort of hurdle. As PAXG is being run by the Ethereum blockchain, it can be traded all over the world in nanoseconds.

The U.S. government has raised concerns over several cryptocurrencies and they are almost about to ban Veneuzulean crypto, Petro. If in such an atmosphere PAXG and BUSD receive a green signal from the U.S. regulatory authorities then it will be a good sign for the crypto market and crypto users of the United States.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

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Ripple Shows Signs of Quick Recovery as Crypterium Wallet Supports XRP Now

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Crypterium, a financial and technological company that is fixated on making virtual currencies as flexible and accessible as fiat currencies, announced its decision to support Ripple (XRP) yesterday.

A few years in their existence, a lot of great things can be said about virtual currencies. Cryptos are fast, secure, and reliable modes of payments that are accessible to everyone who wants to utilize. However, there is one thing a majority of them are still struggling with: stability.

Earlier this year, Crypterium conducted research asking for user opinions concerning cryptocurrencies. After processing multiple feedbacks, the message was clear: Crypterium needs to support virtual currencies in its wallet.

Yesterday, the fintech company took to their website to announce to the world the decision to support Ripple’s XRP on its Crypterium Wallet. The native cryptocurrency of Ripple is not the first crypto asset the company has added as the firm recently introduced support for USD Coin (USDC) and Bitcoin Cash (BCH), too.

What this means for Ripple lovers is that they will no longer be required to register themselves on multiple platforms that support the crypto asset. Instead, they will be able to conduct all their storing, sending, trading, buying, and even withdrawing operations from their Crypterium Wallet.

What is Crypterium

As a fintech company, Crypterium is a full-service solution provider that offers all crypto-related solutions to its users. As a revolutionary virtual crypto bank, Crypterium provides a variety of services that include:

  • Banking services: Users can transfer their funds to other users across-borders and earn interest from their crypto holdings and more.
  • Prepaid cards that can be used for online and offline transactions that include withdrawing money from supported ATMs.
  • Purchasing mobile top-ups and vouchers: Users can top-up their mobile phones directly from the Crypterium platform and also purchase Skype Vouchers using the platform. Over 100 countries are listed in the Crypterium platform.
  • The Crypterium platform also acts as a mobile crypto asset wallet that hosts a crypto wallet. What this means is users do not have control privileges to control the private key.

At present, Crypterium wallet is supporting the following virtual currencies on its platform: Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), USD Coin (USDC), and Crypterium coin (CRPT). And of course, Ripple (XRP) stands among those cryptocurrencies, too. According to information reaching our desk, the Crypterium management plan to add more virtual assets in the days to come.

How to Get Started with Crypterium

Users who wish to get started with the platform need to download its mobile application and sign up using their personal phone number and electronic mail. Once the account is set up, users are assigned a Crypterium Identification Number.

The Crypterium ID is a unique number that is assigned to every user accessing the platform. Users can use the ID to transfer off-chain settlements to other users in either of the supported currencies. One of the significant advantages of using the Crypterium platform is that transactions done on the platform are free and near-instant.

Hosted wallet solution: Another advantage of the Crypterium wallet is that the private key is not stored within the application.

One cool feature of the latest Ripple (XRP)-supportive crypto wallet: Users can send crypto assets using their mobile number

This new, eye-catching feature is one of the most significant advantages of using the platform. Users using the Crypterium mobile application have the flexibility of sending funds to individuals by using their mobile numbers.

Recipients receiving the funds are prompted via SMS to download the Crypterium mobile application and create a user account. As soon as the account is created, the funds sent by the sender reflect on the recipients account without fail.

Other Features Crypterium is Working On

Guided by its mission of becoming a one-stop crypto-related solution provider, Crypterium is working on several features that will ensure it realizes their goal and mission. Many features are being developed, but some of them that caught out attention include Bank transfer, saving accounts, and Vouchers.

Ripple (XRP) market right now

As we write this, Ripple’s XRP is down by 0.83% over the last 24 hours, which means it’s recovered well from yesterday’s crypto market bloodbath. In contrast to XRP, all other top cryptocurrencies, including Bitcoin, are still in red by at least 5%.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

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Meet Dusk Network, a Digital Ledger that is Cryptographically Transparent

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Dusk Network is a protocol layer, specifically a privacy-oriented blockchain protocol that helps anyone in building zero-knowledge dApps. The network offers open Dusk for developers to create consumer and enterprise-level security tokens with audibility, privacy, and compliance.

What is Dusk Network?

According to the official website;

Dusk Network is a cryptographically transparent digital ledger. Dusk streamlines the issuance of digital securities and automates trading compliance with the world’s first programmable and confidential securities.

The team behind Dusk network aims at offering high-throughput, scalability and instant transaction finality blockchain solution. By using Dusk Netowork’s zero-knowledge proofs, developers, companies, users and other project owners can create real-world applications that feature data privacy as well as follow strict compliance requirement.

Nevertheless, it is secured by SBA, segregated Byzantine Agreement which is a consensus protocol and zero-knowledge cryptography.

Very recently, the platform has announced the public release of the new feature, Testnet Shin. It is the Dusk Network’s first-ever publicly-available implementation made possible by SBA consensus protocol. Echoing the similar sentiment, Emanuele Francioni, Founder and Tech Lead of Dusk states that;

“The release of Testnet Shin marks a significant milestone for Dusk Network and the entire world of decentralized applications. Since our inception in early 2018, we have been at the forefront of research and development in reg-tech, zero-knowledge cryptography, and digital finance. We are ecstatic that these efforts are finally coming to fruition. We will build on this momentum and bring our ledger to a large public.’’

Exchange Listing & updates

This blockchain platform has its native token called “DUSK,” which got recently listed across multiple largest cryptocurrency exchanges. DUSK network’s initial token sale was conducted on Tokinex which is the token sale platform of Ethfinex and Bifinex.

Nevertheless, DUSK token received massive interest from exchanges including Bitfienx & Ethfinex and Binance crypto exchange. According to the official announcement, DUSK token is available for secondary market trading since July 11, 2019. Also, the token is recently listed on Binance crypto exchange in multiple trading pairs, including; DUSK/BNB, DUSK/BTC, DUSK/USDT, DUST/USDC, and DUSK/PAX trading pairs.

Moreover, the platform announces browser nodes which help its community with the necessary tools to verify zero-knowledge proofs. Dusk Network is also confirmed that 10% of their total supply is integrated with Binance Chain.

For more information on the DUSK Network, please visit – https://dusk.network/

Join Dusk Network’s Telegram Channel

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

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Dogecoin (DOGE) spikes over 30% amid Binance listing news

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Dogecoin (DOGE) has been in the news recurrently in recent times following the drop in its price that has been the center point in crypto-circles for quite some time now. The cryptocurrency usually tagged as a “joke project,” is now a significant one following the news that Binance, the biggest crypto-exchange by market capitalization, will list it soon. This listing news didn’t take too long after Ethereum CEO Vitalik Buterin showed his interest in DOGE.

The Ethereum CEO replied to a question from a Dogecoin supporter who asked him on his stance on DOGE. Buterin answered that he is a Dogecoin follower. Following the statement by Buterin himself, lots of Dogecoin enthusiasts on Twitter expressed that he deserves a Dogecoin t-shirt.

That aside, today, Binance crypto-exchange revealed about the listing of DOGE on its platform. The number one exchange’s announcement reads,

“Binance will list Dogecoin (DOGE) and open trading for DOGE/BNB, DOGE/BTC, DOGE/USDT, DOGE/PAX, and DOGE/USDC trading pairs at 2019/07/05 12:00 PM (UTC). Users can now start depositing DOGE in preparation for trading.”

As we write this, the price of DOGE increased by 32.36% following the news of Binance listing. It is vital also to note that DOGE 24-hour trading volume also spiked to $123,599,008 alongside its market capitalization, which is now at $505,751,703 after being at $338 million last week. According to coinmarketcap, the price of DOGE stands at $0.004293 at the time of writing.

Dogecoin price
Source: CoinMarketCap.com

The CEO of Binance Changpeng Zhao emphasized on the reasons behind the decision to add Dogecoin to his platform. Zhao stated through his official Twitter page that it was the enormous users or community behind the coin and the famous Ex-CEO Elon Musk that influenced DOGE’s listing on the largest crypto-exchange.

It is essential also to note that last year, Zhao said that he would no longer involve himself in deciding which crypto-coin to list on Binance. He declared that there would not be any firm metrics to be listed, but if the crypto-project has a good-working product and an enormous level of users get interested in it, then it will be listed on the exchange without a second thought.

The creators of Dogecoin produced it as an attempt to foster a “better” method of digital assets among the crypto-community that was exhausted with technical issues and controversial stories. After using the DOGE meme of the Shiba Inu dog as the token’s periapt, its originators Billy Markus and Jackson Palmer wanted to create a fun crypto-coin that could reach broader demographic than Bitcoin.

Billy Markus and Jackson Palmer also wished to offer the crypto-world the same level of functionality as Bitcoin and other notable cryptocurrencies in the crypto-market. It implies that the DOGE can also be utilized for P2P payments, conversion, trading, and mining just like Bitcoin. Dogecoin is a standard altcoin, and it was launched in December 2013. It is now the 27th largest cryptocurrency in the market today.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

Never miss our daily cryptocurrency news, price analysis, tips, and stories. Join us on Telegram | Twitter or subscribe to our weekly Newsletter.

Tron Price Analysis

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The cryptocurrency market opened today, November 9, to almost all the cryptocurrencies seeing red. Popular cryptocurrencies like Bitcoin [BTC], Ethereum [ETH] and Tron [TRX] all witnessed a price bleed after a few days of price hikes. At the moment of writing, there was a systematic fall across the cryptocurrency spectrum.

1 hour:

https://ambcrypto.com/wp-content/uploads/2018/11/TRX-1-HR-1.jpg

The Tron one-hour graph shows the cryptocurrency form triangle with the uptrend and downtrend acting as the slopes. The price uptrend saw the price rise from $0.0232 to $0.0247while the downtrend saw Tron falling from $0.0248 to $0.023. The immediate resistance was holding at $0.0248 while the support has been maintaining at $0.0215.

The Parabolic SAR points to the price dropping which is evidenced by the markers being above the candles. This trend has been persistent for more than 24-hours.

The Chaikin Money Flow indicator shows the graph right at the axis, which still puts the cryptocurrency in the bullish zone. The fall from the top of the graph also indicates the money going out of the market due to the change in investor sentiments.

1 day:

https://ambcrypto.com/wp-content/uploads/2018/11/trx-1-day-3.jpg

The Tron one day graph shows the coin suffering an acute downtrend which has bought the price down from $0.0571 to $0.0231. The support for the cryptocurrency has been holding at $0.0182.

The Bollinger band shows the dominant sideways movement as indicated by the strict pipe like formation of the upper band and the lower band. Compared to the earlier breakouts, the currency Bollinger clouds have significantly reduced in size.

The Awesome Oscillator has shown a drastic reduction in the market momentum with the graph almost negligible now. The immediate green markers point to a hike in the momentum.

Conclusion:

The above-mentioned indicators majorly point to the current sideways price movement persisting. The Chaikin Money Flow indicators, on the other hand, shows a positive change in the investor sentiments.