binance

The Big Winners: $145 Million Worth Of Bitcoin Transferred From BitMEX to Binance and Gemini Following CFTC Fiasco

Cryptocurrency investors have withdrawn approximately 45,000 bitcoins from the derivatives exchange BitMEX following the recent charges brought by the US CFTC. A sizeable portion of the massive amount has ended up on two rival exchanges – Gemini and Binance. CFTC Charges Against BitMEX Owners As CryptoPotato reported last week, the US Commodities and Futures Trading...
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Has The Binance Effect Been Good or Bad For CoinMarketCap?

For a number of years, CoinMarketCap (CMC) has been the industry’s premier analytics website for data on the top tokens and exchanges. There were a number of competitors but CMC was still the chosen source despite major discrepancies in the data it published. CEO of the FTX derivatives exchange and Alameda Research, Sam Bankman-Fried (SBF)...
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Binance DeFi Index Tumbles Over 50% on Its First Month and There Is Even Worse News

In late August this year, Binance launched its DeFi Composite Index. Trading under the DEFIUSDT symbol, it’s currently down over 50% in a little over a month. Unfortunately, there is even worse news for the young index. DeFi Composite Index Down Over 50% At this point, it’s quite clear that DeFi is where all the...
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KuCoin hack: Over a million XRP moved… to a defunct exchange?

Cryptocurrency exchange KuCoin’s hack has been the talking point of the week, with the culprits involved later making headlines after they tried to move the stolen crypto onto several decentralized exchanges. The hack and its perpetrators are in the news again today after Whale Alert revealed that part of the stolen funds, including a lot...
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‘Binance’s centralized servers serve decentralized economy’ – CZ

Over the past ten years, crypto-exchanges have emerged to become extremely crucial, not just with regard to adoption levels, but also when it comes to directing the overall growth of the industry. The previous year saw a lot of interest in greater levels of decentralization, an interest that contributed to the DeFi boom and renewed...
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Is Uniswap Governance Centralized? New Report Finds it Could be Controlled By Binance

Uniswap made a shrewd move by airdropping millions of tokens and launching its own liquidity pools to reclaim what SushiSwap had taken from it in just over two weeks. It has propelled the platform back to the most dominant DEX as total value locked approached $2 billion while that on rival SushiSwap has dwindled. Uniswap...
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$1 Trillion in Trading Volume Year to Date: Binance Futures with a New Milestone

After celebrating its first birthday earlier this month, Binance Futures has announced a new milestone. The derivatives trading platform of the leading cryptocurrency exchange Binance has exceeded $1 trillion in trading volume since the start of the year. Binance Futures Reaches $1T Trading Volume YTD Launched a year ago, Binance Futures rapidly started expanding its...
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Tether – A threat to altcoins like XRP?

Binance’s Tether reserves are up 450% in the past one month. The exchange has seen increased volatility in its Tether reserves since April 2020. There was a significant drop in July 2020, however, there has been a massive recovery in the past month.  Source: Cryptoquant USDT reserves are up from $88 M to $1.06 B...
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Uniswap Token (UNI) Skyrockets 300% on Coinbase and Binance Listings

Uniswap’s UNI token just released on the Ethereum main net. Soon after, Coinbase Pro and Binance announced its listing on their platforms. UNI’s market price soared through the roof (to the tune of 300 percent) post the news. Coinbase Pro Announces Listing For Uniswap’s UNI Token According to a blog article, US-based cryptocurrency exchange Coinbase...
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14% of ETH Transaction Volume Now Belongs to Binance Smart Chain

Binance has made it no secret that it aims to dominate the world of DeFi as it has done with the crypto industry. The company is clearly angling to become the Google of crypto, launching new products and incentives on an almost weekly basis. The latest hot DeFi launch, Binance Smart Chain, is gaining traction...
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Binance CEO Asks the Community What To Do About Someone’s $20,000 BNB Mistake

On September 12, 2020, CZ, the CEO of Binance, the leading cryptocurrency exchange, shared with his followers an unfortunate accident that led to a client losing $20,000 in the blink of an eye. In a tweet, CZ told the story of a user —whose identity he did not reveal— who sent 800BNB (about $20,000) to...
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Bitcoin’s Endless Fight For $10K As Correlation With Stocks Increases: The Crypto Weekly Market Update

In terms of sheer price action, this week was rather sloppy. Bitcoin was trading at around $10,400 seven days ago, and it’s now indecisive around $10,300. During the week, things did get slightly more tumultuous as BTC dipped below $10K on a few occasions, reaching as low as about $9,800 on Binance. Many thought that...
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Binance Announces $100 Million Fund to Boost Its Own DeFi Ecosystem

Binance is willing to go big in the world of DeFi and is investing heavily in promoting its own ecosystem in a clear attempt to take some of the spotlights off Ethereum. During an online panel at The World of DeFi summit, Changpeng Zhao (CZ), the CEO of the world’s largest crypto exchange by trading...
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Tracked: $5.4 Million Eterbase Hacked Funds Sent To Binance and Huobi

A few days after being hacked and drained for $5.4 million worth of digital assets, the European cryptocurrency exchange Eterbase claimed that it had tracked part of the stolen funds to Binance, Huobi, and HitBTC. The company asked for assistance from those exchanges and reassured its users that Eterbase will endure. $5.4M In Crypto Stolen...
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Tether reserves drop, signs of trouble?

Stablecoins have added $100 million a day in market capitalization over the past three months. Tether has contributed to this market cap with a trading volume that is 1.84 times that of Bitcoin as of September 7, 2020. However, this is only the tip of the iceberg. Tether reserves on exchanges, that were primarily used...
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CeFi Chases DeFi as Huobi Launches Liquidity Mining

Centralized exchanges are facing the harsh reality of losing out to DeFi protocols that don’t have as many costs involved with transacting. The only way to get back in the game is to launch their own DeFi products to lure customers back, and liquidity farming is the most popular activity in the industry at the...
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Is The Correction Over? Bitcoin Struggles To Maintain The $10,000

Bitcoin has reduced its high volatility as of late and remains above $10,000. The rest of the market shows recovery signs, including Chainlink, which is back in the top 5, and SushiSwap’s triple-digit price surge has returned SUSHI in the top 100. Bitcoin Stays Above $10K After a few consecutive days of massive price fluctuations,...
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Altseason or not, Ethereum, Chainlink & Polkadot are here to stay

Over the past few weeks, the hype around a supposed altseason seems to have died down. I mean, sure, DeFi is still what one would characterize a “booming space.” But, many of the market’s altcoins have fallen on the charts lately, especially since Bitcoin dipped under $11,000 a few days ago. Thus, the question arises...
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CZ’s Explanation of Binance Listing SUSHI: With Innovation Comes Risk

The events of the past days shook the DeFi space in a way that no other project did this year. The lead developer of the project dumped all of his token on the market, crashing SUSHI’s price by over 50%. After that, he transferred the control over the protocol to FTX’s CEO and the price...
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Ethereum’s rising transaction fees may be a deal-breaker for day traders

Until quite recently, Ethereum’s price seemed to have surged overnight owing to the ongoing DeFi craze. In fact, according to many analysts, DeFi’s explosion has been the top driver for Ethereum’s growth. What’s more, DeFi’s Total Value Locked figures have grown from under $1 billion at the start of 2020 to upwards of $10 billion....
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Elrond Completes 1000:1 Token Swap, Binance Supports the Transition

Following the launch of its mainnet earlier this summer, Elrond continues with new developments. The company recently introduced a new economic model for its native cryptocurrency and a token swap implemented firstly on Binance that transitioned ERD to the new coin called eGLD in a 1000:1 ratio. Elrond’s Token Swap Implemented On Binance As CryptoPotato...
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Binance launches LINK, ADA Coin-margined contracts with eye on BitMEX

Binance may have entered the derivatives space late, but within no time, it has established its place in the market and among users. The reason behind its success was the variety of altcoins offered by the exchange along with the major coins. 2020, has been the year of DeFi and Binance realized this and added...
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Binance Births Centralized ‘DeFi’ with Launch of BSwap Automated Market Maker

The largest cryptocurrency exchange in the world, Binance, has created its own centralized version of an automated market maker (AMM) pool, named BSwap, or Binance Liquid Swap. Launched on September 4, Binance’s take on the Uniswap decentralized exchange (DEX) will bring token swap functionality, and allow users to provide liquidity in return for an annual...
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DeFi’s DEX foray means centralized exchanges need to act

Decentralization has been the key differentiator between the world of cryptocurrencies and that of traditional finance. However, over the past decade, as cryptocurrencies like Bitcoin grew in popularity and more products were introduced, crypto-exchanges were the ones to cement their position as the industry’s most dominant entities. Interestingly, with the monumental growth of the DeFi...
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CZ Binance About Today’s Crash: Bitcoin is Not Dead

After starting the month of September around the $12k mark, Bitcoin experienced a sharp correction today that crashed it to lows of nearly $1,160 in a matter of hours, erasing the gains of almost five days. Admittedly, a nervousness during the correction was to be expected as several traders adapted their strategies to this sharp...
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Binance smart chain is live on mainnet

Five months after the project was unveiled, Binance announced the launch of its  Binance Smart Chain blockchain today, which enables creation of smart contracts and allows users to stake BNB, Binance’s very own token. The blockchain is compatible with Ethereum Virtual Machine, which may increase the utility of both Binance Chain and the BNB token....
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ETH Fees at a New ATH, Binance To The Rescue?

The crypto industry is scrambling to find a solution for the unfeasibly high gas fees that make smaller transactions on the Ethereum network financially unviable. The 2020 DeFi boom and explosion in yield farming platforms have strained the Ethereum network so much that whales and minnows alike are now fighting for block space to get...
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CoinMarketCap execs resign four months after Binance acquisition  

CoinMarketCap Chief Executive Officer Carylyne Chan and Vice President Spencer Yang have departed from the leading cryptocurrency price tracking company. In an open letter on her blog, Chan bid adieu to CoinMarketCap community after working with them for 2.5 years.  Chan hinted that she could soon begin a new venture of her own as she...
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Short Time? After 30,000% Since Launch, Binance Futures Adds Yearn Finance (YFI) For Leveraged Trading

YFI has undoubtedly been the best performing cryptocurrency of the past month in terms of pricing. The governance token of Yearn Finance was announced on July 17th by Andre Cronje and has since taken off in a way no one probably expected. What started as a “0 value” token is currently trading at around $36,000...
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Life with bitcoin: BitMEX needs these changes to survive

BitMEX the old? Once the OG and pioneer, BitMEX seems to be getting old, or at least the contracts listed on the exchange are. There are contracts for 8 coins – BTC, ADA, BCH, EOS, ETH, LTC, TRX, and XRP. Most of these coins were popular in 2017 but few seem to have survived and...
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