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BitMex Taunts Binance for Copying their Documentation for Testnet Futures

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Following the largest crypto exchange platform by trade volume Binance’s decision to enable cryptocurrency futures trading on its platform, Bitmex responded by posting a tongue in cheek tweet directed to Binance. Bitmex congratulated the number one crypto exchange platform for its decision to launch its Testnet Futures, publicizing the official Binance documents that are a plagiarized version of their material.

Crypto followers on Twitter responded to the allegation with some fascinating copy-paste tweets directed to taunt Binance coin. Sarcastically, Bitmex posted that they were happy to know that Binance enjoyed going through their documents as much as they had enjoyed writing them. BitMex exchange uniquely tweeted their frustration,

“Congratulations are in order on the Testnet Futures launch by Binance crypto exchange platform. After it has come to our attention that Binance plagiarized our documentation, we are happy to know that they enjoyed going through our documentation as much as we enjoyed compiling it.”

According to the allegations leveled against the leading crypto exchange, Binance Testnet Futures document copied every word from Bitmex document. From the general view of Auto Deleveraging (ADL) to Funding rate calculation, the evidence is clear that Binance shamefully stole BitMex intellectual resources.

Mocking Tweets Directed Towards Binance Crypto Exchange

Without wasting any time, crypto followers went berserk tweeting all manner of memes and funny comments leading to a storm of mocking tweets. A section of crypto community members even alleged that China was the undisputed king of the copy-paste industry that is killing innovation and returns at a vast scale.

https://twitter.com/wonderbitcoin/status/1169131098925871105

Binance CEO, CZ Comes Out and Apologizes

About the recent market revelation, Binance CEO, CZ has come out to apologize for what he terms as a mistake that passed their attention. Taking to his Twitter page, CZ apologized saying Binance missed the mark and did not read the documents promising the removal of the documents soon. Also, the CEO posted the original link for the official Binance document of Futures A Platform to be scrutinized by BitMex.

CZ Binance said,

“Shame on us. We should have known better. We apologize for that. We must have missed that during the DD process before the acquisition. We honestly did not read the BitMex documents for sure. We will fix and remove the document ASAP”

CZ added,

“Also, the official documents of Futures A platform that was compiled internally can be found here: binanceapitest.github.io/Binance-future for your viewing.”

Following the incident, a Twitter user by the name Beyond Crypto with username @CryptoK35931496 took the entire story spiritedly and responded that the crypto and blockchain industry is based on public sharing and that is what the industry is about:

“@cz_binance @BitMEXdotcom and @binance It is no big deal. The crypto and blockchain industry is founded upon the merits of public sharing and transparency”

Despite the noble efforts to explain the reason for the mistake by the CEO, Binance action of plagiarizing BitMex document does not do the crypto exchange any good. As a leading crypto exchange in the market, it is somewhat questionable why it has to allow itself to copy procedures of another crypto exchange platform without adjusting them to meet their specifications.

What the Cryptocurrency Futures Trading Mean for Binance

During Tuesday’s session of Asia Blockchain Summit in Taipei, Binance founder and CEO, Changpeng Zhao, took to the platform to announce its decision to support cryptocurrency futures trading. During the presentation, Zhao explained a futures trading interface on the Binance platform that has features that include longs and shorts on virtual assets.

Zhao said,

“As a market leader in the industry, Binance is preparing to launch its futures platform very soon. In regards to when it will be ready for launching, we will communicate to the world on a later day, but the simulation test version will be ready for circulation in a few weeks.”

The Binance Futures Trading platform is scheduled to enable the exchange to offer futures contracts, a move that will position it way ahead of its competitors.

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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Blockchain Travel Booking Platform Announces Migration to Binance Chain

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Today, Travala.com, a leading Blockchain travel booking platform announced its migration to Binance Chain, the latest blockchain built specifically to host Binance’s DEX and a variety of other projects.

The platform confirms the migration on Sept 3 (today) stating the movement will enhance the usability, security and, speed of its native token AVA, which currently runs on the NEO blockchain.

As per the announcement, Travala.com seeks to improve the token economics of its native token, AVA. With the migration decision, Travala.com aims to offer the AVA token holders the better performance, faster processing times, and ease of on-chain use of AVA within the platform, the platform asserts.

Travala.com’s AVA Token to Migrate to Binance Chain

Besides migration, Travala.com claims that BNB coin is added as a preferred payment method on Traval.com, allowing travelers to book for travel by paying via BNB token.

“As the world’s leading blockchain-based hotel booking platform, we’re thrilled to support Binance Chain in a common mission to grow the blockchain ecosystem and to promote the adoption of cryptocurrencies globally.” Said Matthew Luczynski, Travala.com’s CEO

While Travala.com is yet to share further details about migration, it says that the users can hold its native token AVA on the NEO blockchain and accordingly they can still be able to trade and withdraw AVA as usual.

However, once the swap mechanism is ready, token holders could swap their NEP5 AVA tokens into BEP2 AVA tokens on a 1:1 ratio. The platform stated that they would inform all its token holders when the “option to swap tokens will be available.”

As part of the migration, Travala.com is launching a new buyback and burn program which will reportedly occur every quarter. The platform elaborates that the buyback and burn program will continue until total 21,571,086 AVA tokens get removed from the calculation permanently. These tokens represent 35 percent of total supply and once reduced permanently, the overall total supply of AVA will then count to only 40,000,000.

The amount of AVA coins to be repurchased from the open markets and burned each quarter is based on 20% of Travala.com’s net revenue so that the more bookings performed on the Travala.com platform within 3 months the more AVA will be repurchased and burned.

Travala.com’s AVA token is relatively new in the crypto industry and currently boasts the market capitalization of $6,478,940. The Binance migration announcement might have influenced today’s trading value, which has surged by 27.24 percent within the past 24 hours. Consequently, the coin is valued at $0.146241 against USD and currently available for trading at KuCoin and Switcheo Network crypto exchanges with pairs of USDT, BTC, ETH, and NEO.

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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Binance CEO Guides Binanciers as Twitter CEO’s Account Gets Hacked

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Co-founder and CEO of Twitter had his account ‘briefly’ hacked by a group that calls itself the Chuckle Squad. This comes as a severe concern for the CEO of the largest crypto exchange, Binance.

Today, on Aug 31, 2019, Binance CEO Changpeng Zhao (CZ) quoted the tweet that concerns about Twitter CEO Jack Dorsey’s account hack summary and cautioned the Binance users to use a “Yubikey for their Binance account.”

Jack Dorsey’s Twitter Account Got Hacked

Despite the strict security policies set out by respective social media platforms, account hack of prominent public figures is no surprise these days.

However, today’s hack appears to be too crispy because hackers targeted the account of Twitter CEO itself. Hacker took over Jack’s Twitter account for about 20 minutes and tweeted racial slurs including a retweet that claims, “nazi Germany did nothing wrong.”

There was reportedly several tweets and retweets during the time of the hack and also already being deleted now. As soon as it comes into notice, Twitter Comms officially informed users about the hack.

And within roughly 90 minutes, Twitter assures the community that the account is now secure. Further, it said, “there is no indication that Twitter’s system has been comprised.”

https://twitter.com/TwitterComms/status/1167591003143847936

While Twitter CEO’s account hack creates a sense of insecurity among other most high profile accounts, it is worth noting that some of the other influencers have already got hit in the last two weeks.

CZ Cautions Binance Users

Following the whole scenario, the CEO of Binance Exchange requested its users to use Yubikey, a strong Two Factor Authentication from a company called Yubico. The exchange in late July this year announced its support for two-factor authentication (2FA) via Yubico’s hardware-based security key, Yubikey.

Binance stepped out with Yubikey after suffering the security breach during May which have led the exchange to implement “significant changes to the API, 2FA, and withdrawal validation areas”.

https://twitter.com/cz_binance/status/1167675570362179584

As for Jack Dorsey’s hack account incident, many influential profiles on Twitter shared their views, and one such tweet reads that “If the Twitter CEO’s account can be hacked, then none of us is safe.”

Moreover, Crypto industry often witnessed several hack incidents; sometimes with the bitcoin mixing service targeting user’s individual wallet addresses while on the other side, hackers hit the crypto exchange itself. Notably, Binance exchange is already under the list of 2019’s hacked crypto exchanges.

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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Binance CEO’s ‘earn while you sleep’ tweet blooms into Binance Lending

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Binance, the world’s largest cryptocurrency exchange has been at the forefront of changes in the cryptocurrency space, be it including upgrades or by providing new opportunities for investors int eh space. Changpeng Zhao, the Chief Executive Officer [CEO] of Binance has been an active member of the digital asset industry, and his latest tweet had riled up the crypto Twitter space.

His tweet read:

“Would you like to earn #crypto while you sleep?

Keep an eye on @binance today.”

Although there were many speculations as to what the update will be, Binance soon announced what the suspense build-up was for. The organization revealed that the company will now launch its much-awaited lending platform with initial BNB and Tether lending products. CZ had stated:

“Binance Lending is simple and intuitive to use. Users can subscribe to any lending product and earn interest, it’s as easy as that. The interest rate for each product is guaranteed, so your crypto balance will always grow, regardless of how the market moves.”

The company informed users that the lending products would become available for Binance Coin and Tether on a subscription basis from 6:00 UTC August 28th to 12:00 UTC on August 29th. Lending on Binance will mainly go the margin borrowers who pay the interest.

The CEO made it a point to emphasize on the point that Binance trading was very different from other guaranteed-return schemes in a way that the company does not have to look for other places to invest in. The annual rate for the first BNB product was placed at 15 percent, a caveat that had caught the eye of many investors.

Binance also claims that with the launch of the lending platform, the organization will have the availability of funds to led to margin traders, which in turn may increase the current margin limits. The lending platform will have annualized interest rates for upcoming phases that will be adjusted based on the market reception of the first phase of lending.

Supporters of Binance have been quite vocal about the launch of the new platform, and many are out to dissuade the naysayers. One supporter, Degen Spartan, took to Twitter to comment:

“everyone calling the binance lending the new bitconnect lmao

get the hell out of my way and don’t steal my allocation for maximum lots

as if 500 bnb is a lot of capital to risk to earn 15%

wot else u gonna do with it mate”

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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Binance KYC Hack Victims to Enjoy Special VIP Offer from Exchange

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Binance’s KYC hack victims will receive free, lifetime VIP membership accounts, the binance crypto exchange confirmed in the latest update. As per the investigation, the KYC hack incident affected up to 60,000 users, and these users are actually lucky enough to enjoy Binance’s premium service for free.

On August 23, Binance broke out an announcement, entitling “Update & Action Response: Third-Party Vendor KYC Matter” which is an update to the KYC leak incident affecting few Binance users.

Early this month, Binance caught with what is called “Potential KYC leak.” While Binance CEO, CZ called it a fud, the exchange has recently noticed that some of the photos match actual accounts while others lack vital details.

During the KYC leak debate on social network Twitter, Binance denied the claim and stated that the team is hard at its investigation. Later the exchange asserted;

“We would like to inform you that an unidentified individual has threatened and harassed us, demanding 300 BTC in exchange for withholding 10,000 photos that bear similarity to Binance KYC data,”

Binance Offering VIP Service to KYC Hack Victims

Nevertheless, the latest update of Binance which is corresponding to the earlier breach of KYC data outlined that;

The latest evidence of this investigation indicates that some of the leaked images overlap with images that were processed by a third-party vendor, which Binance contracted a few times between early December 2017 and late February 2018.

Binance team wrote that the multiple images were photoshopped/edited, which aren’t the exact match with the KYC images in its database. It further adds that the photos that processed from its KYC contain a digital watermark which was “notably absent from all of the leaked images,” it said.

According to Binance’s own research, modified KYC documents have been used to create accounts on Binance and claims that much such information hasn’t been verified via Binance’s own sources. The exchange outlined it as follows;

“We have robust measures in place to safeguard our customers’ assets and information, including an updated KYC verification system and AI-based facial verification function introduced in 2018, as well as the storage and indexing of KYC data with sophisticated data security technology upgraded in 2019,”

Besides, Binance back in May 2019 suffered the hack, resulting roughly $40 million funds lost in thin air.

Conclusively, KYC Hack Victims will receive refunds and other preferential services as they will now have access to the features that only VIP Binance users can enjoy.

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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Binance US to start operating in two months with restrictions for NY residents initially

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A new US crypto trading branch of Binance exchange will resume operation in the United States within a month or two. The exchange’s CEO, Changpeng Zhao (a.k.a CZ) claims that the exchange will not serve New York residents initially.

Binance US to go Live Within Two Months

Yesterday, on August 15, 2019, CZ during an interview with Cheddar revealed the company’s plan of resuming Binance US. Despite the ongoing criticism and lack of uncertainty for crypto space in the US, Binance is on its bold move to serve crypto trading and compete with the existing NY-based crypto exchanges.

Zhao in his interview on Thursday didn’t define a specific date of launch but hints that a lot of things going on in flux and possibly the start may happen before November. In his words;

“I don’t want to promise any fixed dates, but there’s a lot of work being done and there’s a lot of things going on in flux, but I would say in a month or two.”

Why is NY Residents Restricted at Launch?

It’s worth noting that the Binance US will be operated by a firm called BAM Trading Service which has recently appointed a former employee of Ripple as its CEO. Accordingly, previous Ripple’s member, Catherine Coley acts as BAM’s CEO and will spearhead Binance US.

The exchange has chosen BAM as its US operator who is already a regulated entity of the U.S. Financial Crimes Enforcement Network (FinCEN). However, any crypto trading service operating within NY regime must obtain BitLicense which BAM currently doesn’t hold.

While the exchange might launch trading operation in less than two months, Zhao says BAM trading service is yet to receive BitLicense from New York State Department of Financial Services. Henceforth, it will not offer trading service to New York residents at the launch.

Despite the US regulatory ambiguity, Zhao explains how will crypto as a new thing will align with the US, which is one of the big countries with a very larger market scope. He says;

“I think the US is one of the most developed markets because I think it has good regulations in the traditional finance space. Crypto is a new thing, and for new things, the US is a big country and with a lot of regulatory bodies and a very large market […] in a large market it is harder to regulate.”

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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Binance Coin (BNB) gains the support of Cobo Wallet and its Custody

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One of its very own type crypto wallets, Cobo announced yesterday that it had integrated Binance Chain. As a result, BNB holders will now be able to store their cryptos inside the wallet. 

The latest cryptocurrency wallet supporting Binance Coin, Cobo Wallet is originated from China with its HQs in Beijing. Currently, it is available in over 80 countries and plans to expand its network across new states, including the U.S., Indonesia, and Vietnam in particular. To enter new markets, Cobo in a recent Series A gathered around $13 million. This adds financial stability as Cobo aims to build a superior network.

Cobo is the very first digital assets wallet that originates PoS (Proof of Stake) and master node pooling to allow users to store their digital currencies safely, use and invest in cryptocurrencies – that all within a single app. It also gives PoS cloud staking rewards to the holders up to 40% per annum. At the moment, it supports over thirty coins and almost 700 tokens.

As a crypto startup, the main objective is to provide users with long-term services which are secure, reliable, and convenient. For this, Cobo has developed two different products for different level users, as it offers Cobo mobile wallet and for advanced users, it provides the services of a high-end cold storage wallet named Cobo Vault (hardware wallet). Moreover, for institutional investors, it offers custodial services as well.

The addition of Binance Coin (BNB) to Cobo wallet is an outstanding development for the digital asset. It will allow BNB holders with an excellent option to opt such a wallet which is one of its very own type providing with the master node and PoS Pool skating services. Moreover, the transaction fee is zero, which adds a great advantage for a buyer. It also delivers zero-latency transfers between the Cobo wallet users. 

Binance Coin holders will now have a secure platform that will provide them with a multi-factor authentication system which is a modern user-end security system. It also gives proprietary server-end security service that allows dynamically allotted assets to minimize any risk and a cutting-edge cold-hot server separation. The private keys can be stored in the multi-signature cards. So, overall, the crypto wallet has an industrial level security ecosystem.

Cobo will allow the Binance Coin holders to have access to decentralized apps, including CryptoKitties, FOMO3D, and more. Cobo’s close collaboration with the digital assets like ETH, TRX, EOS and other programs means that the wallet allows its users to have access to exclusive functions that include account registration, voting, resource summary, Dapp tools, and procurement, etc.

An overall impact of this development will boost the adoption of the digital asset, BNB. With new things emerging in the cryptosphere, digital assets like Binance Coin have an excellent opportunity to make a large user base and step its authority in the crypto market. One significant advantage for BNB coin is that it is backed by the Binance exchange, which helps in the expansion of the crypto asset.

Binance Coin is the 6th most significant asset in the market, as we write this. BNB in the recent past has shown sublime performance in the market while outshining some top cryptos. Currently, it traded in a slight bearish zone with a price of $29.59. The volume of BNB has risen significantly, and such adoptions will improve its volume more in long-term progress.

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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Binance gets rewards from Stellar Lumens accidentally and adds support

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XLM at Binance

Binance is the most influential trade and exchange platform in the world when it comes to cryptocurrencies. It’s earned staking rewards from the Stellar Lumens (XLM) blockchain and cryptocurrency project now that some parameters changed for cold and hot wallets.

A couple of days ago, Binance announced in its blog that the platform earned an XLM staking rewards at the tune of XLM 9,50 million (USD 775.000) unknowingly. It happened because the project’s cold and hot wallets’ parameters changed about a year ago. When that occurred, the platform immediately decided to add Stellar Lumens’ XLM staking support and share all those rewards with the whole community. In the company’s words:

“Starting July 20, Binance will support staking for Stellar (XLM). Over a 40-day period, Binance will take daily snapshots of XLM balances on your Binance accounts. After that, on September 1, we will tally average user XLM balances based on these snapshots and complete the distribution of your XLM staking rewards.”

Only last month the platform released its official wallet. It’s called Trust Wallet, and it’s based on the company’s decentralized exchange platform, Binance DEX. According to the firm’s original plans, the wallet includes support for layer-2 payment protocols like Bitcoin’s Lightning Network soon and also for staking services.

Polkadot

During the previous week Polkadot, a blockchain interoperability protocol introduced its own canary network which goes by the name of “Kusama” which is an experimental edition of the platform’s protocol. It’s supposed to allow developers to build and use a para chain that will test Polkadot’s governance system. That includes staking and other features in a real environment.

Stellar Lumens native cryptocurrency is called Lumen (XLM), and it’s trading at $0.092982 as we write this. It’s capitalized at $1.822 billion, which is enough for it to be the 11th in the world by market capitalization. It’s gained 4.85% in the previous 24 hours.

The Stellar Lumens blockchain project started life as a fork from Ripple. Both projects were founded by the same person, Jed McCaleb of eDonkey fame, and it’s considered to be Ripple’s most direct competition in the cryptocurrency market. It’s IBM’s blockchain of choice.

That means that every blockchain project that IBM is developing is going to use Stellar Lumens’ blockchain. If you remember what Big Blue’s strategic partnership did for Intel and Microsoft, you’ll appreciate how important it is for Stellar Lumens to have IBM as a partner.

Keep an eye open for Stellar Lumens. It’s a blockchain project with excellent fundamentals that could go bullish at any time. It has fascinating use cases as a means to settle international payments (just like Ripple) but also as a retail coin that you will be able to use to pay for any goods and services you can think of even in brick-and-mortar businesses everywhere in the world.

The team’s leadership has been working particularly hard to achieve adoption in Africa because it’s one of the zones in the world in which the traditional system is not very developed. In Africa, as well as in South America, it’s more common for people to have a mobile phone than to own a bank account. That’s why those geopolitical zones are a significant opportunity for blockchain technology to make a difference.

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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Binance CEO had predicted the latest Bitcoin price and crypto crash correctly

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Last week, the cryptocurrency giant bitcoin surged without any signs of stopping soon. Precisely, the price of bitcoin had risen by more than 200% as the week ended. At the begging of this year, the price was around $3,500, and last week it stood just below $14,000.

But the big question has always been the reason for the bitcoin price surge. When it comes to such a scenario, various folks give their explanations. However, the most significant claims of it all have been; the interest showed by the biggest tech companies in bitcoin and crypto in general.

For instance, the likes of iPhone maker Apple and Facebook have already shown interest in crypto. Also, there has been some interest from Bakkt, a New York Stock Exchange-owner platform.

Furthermore, there’s a vague assumption of institutions having a high demand for bitcoin lately, which has gone a long way to even outpacing retail demand.

It looks like such reasons got the crypto fever back on track and strong. Why? We hear you ask. As before the current bitcoin price fall, we started comparing the crypto market state to that of 2017, when bitcoin hit its high of $20,000.

Binance CEO had a Different Look

As most associated bitcoin price rally with the institutional demand, Binance exchange CEO Changpeng Zhao affirmed the real reason was far from that demand.

CZ believes that the number of institutions stepping into the crypto industry is growing, but it hasn’t grown that much yet this year.

So, what was his reason then for the rally?

As per his prediction that he made last week, the extreme volatility could only be getting even worse. The reason is that, still, retail investors account for almost over 60% of the trading volume on Binance, which is similar to last year.

Moreover, margin trading could as well be having a say in the recent bitcoin rally as now investors have significant funds to speculate with. CZ projects that majority of folks will be flowing to use margin by the end of 2019, and with more trading volume, there’s potential higher volatility.

Now we’re looking forward to the next bitcoin halving which some suggest may cause some ‘supply shock’ in the current market. However, if that happens or not, only time will tell. Bitcoin price stands at $9,645 after going down by 7.91% in the last 24 hours.

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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Binance Coin (BNB) down by 9.82% even after securing a listing on BQTX

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BQTX Exchange is a peer-to-peer cryptocurrency trading and exchange platform. It’s innovative because it includes Hedge trading capabilities.

BQTX wants to become the place in which skilled cryptocurrency traders come together to create a community of experts who can take advantage of the full platform thus succeeding financially, help other fellow traders in becoming competent in trading and investing in the cryptosphere, and have the network help the crypto verse as a whole.

The platform is a secure, interactive, and versatile P2P trading ecosystem with an intuitive, user-friendly interface in which customers can carry out several kinds of transactions, market orders, value transfers. It supports many digital assets as well as derivatives and other, more advanced, financial instruments.

In BQTX, the latest crypto exchange that lists Binance Coin (BNB), you can trade globally your digital coins interacting directly with other traders that are everywhere on the planet. You can also share experiences, expectations, and become part of an active community of experts.

The Hedge Trade system is the platform’s flag technology. It allows users to leverage holdings of many cryptocurrencies. It’s flexible for traders to buy crypto coins for a short time using an escrow for their digital wealth. It is revolutionary, and it allows for crypto traders to take advantage of leveraged trade without the need for traditional margin trading.

The platform is listing a new cryptocurrency: The Binance coin (BNB)

BNB is a fantastic asset. Binance coin was created by the Binance trading and exchange platform (the largest in the world) to fuel and lubricate its blockchain. It started life as a coin that was going to serve the internal needs of a trading website.

Then something happened. Binance’s daily trading volumes are very high. Thus the volumes created demand for BNB withing the site and soon every user was holding some. And that demand ended up boosting BNB’s performance in the cryptocurrency market at large, outside of its original scope.

Binance’s native cryptocurrency has become one of the most profitable and reliable in the cryptosphere. Last year, as we were all experiencing the crypto winter, and we were seeing how every coin in the market was losing value quickly, BNB kept rising in price. It was unique in crypto. It was (and remains) a coin for servicing a particular project that went global.

BQT announced the new move through its Twitter account in very optimistic terms:

https://twitter.com/cz_binance/status/1150214578015354880

Binance Coin is trading at $28.10 as we write this. It’s still lost 0.93% against bitcoin and 9.81% against the USD. It’s the sixth cryptocurrency by market capitalization at USD 4 billion.

BQTX choice of the new coin is indeed an excellent idea. It’s not only one of the world’s top ten, but also one of the most reliable, profitable and, above all, one of the world’s most useful.

We wish both BQTX, its users, and BNB holders the best of lucks. But BNB has a proven track record; luck is entirely beside the point.

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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