PRESS RELEASE. The premier blockchain platform, B2BinPay, has been significantly upgraded. The newest version now includes TRX staking and supports a wider range of blockchains, providing clients with increased flexibility and efficiency. The following sections explore how these enhancements improve the user experience with B2BinPay. TRX Staking – Earn Rewards as Transactions are Made A […]
Bitcoin News
Core Scientific Posts $210.7M Profit in Q1 2024, Boosted by Bitcoin Mining Surge
Core Scientific announced a significant recovery in its financial performance for the first quarter of 2024, reporting a net income of 0.7 million, a stark contrast to the net loss of .4 million from the same period last year, driven by an increase in Bitcoin mining and hosting services. The company mined 2,825 bitcoins in […]
Bitcoin News
Lido’s Liquid Staking Protocol Dominates with $9.3B in Locked Ethereum, Boosted by Tron Founder’s Deposits
During the past 30 days, the total value locked (TVL) in Lido Finance’s liquid staking protocol increased by 10.57%, with 7.56% of the increase occurring within the last seven days. The protocol’s dominance in decentralized finance (defi) has also increased, with its TVL accounting for 19.08% of the .66 billion locked in defi today. While the rise in ethereum’s price has contributed to the increase in TVL, Lido’s liquid staking program reportedly received a total deposit of at least 303,000 ether from Tron founder Justin Sun.
Onchain Data Shows Tron Founder Justin Sun Bolstered Lido’s TVL
Lido, the liquid staking protocol, has seen a 7.56% rise over the past week, with a total value locked (TVL) of .48 billion as of March 2, 2023. Lido’s web portal, lido.fi, shows that .3 billion of the TVL consists of ethereum (ETH) deposits. The total value locked on Lido, including crypto assets like SOL, MATIC, DOT, and KSM, accounts for 19.08% of the .66 billion locked in defi today.
Lido is currently the largest defi protocol in terms of TVL, followed by Makerdao, Curve, and Aave. Out of the 7,607,536 Ether (.44B) locked in liquid staking platforms, Lido commands 74.87% of the total value. In terms of liquid staking protocols, Lido is followed by Coinbase’s Wrapped Ether protocol, Rocketpool, Frax Ether, and Stakewise.
One factor contributing to the increase in value locked is the 3.8% rise in the price of ether against the U.S. dollar, which has contributed to the growing value of Lido’s staked ether (STETH). However, the protocol has also seen a significant amount of inflow this week, and onchain data shows that Tron founder Justin Sun ostensibly deposited at least 303,000 ether into Lido.
Bitcoin.com News reported on the initial 150,000 ether reportedly deposited by the founder of Tron. Blockchain analysis and security auditing firm Peckshield noted that after the 150,000 ether deposit, addresses labeled in Sun’s name added more ethereum to the Lido protocol. Some people speculated that, including the initial deposit and subsequent deposits, the Tron founder’s inflow into Lido amounted to 210,100 ether.
However, according to transaction data shown by the onchain analytics tool Arkham Intelligence, Sun’s total staked ether may be much more than 210,000 ETH. Arkham’s transaction analysis indicates that Sun holds a total of 303,660 STETH, which is worth 4 million based on STETH exchange rates on March 2, 2023.
In addition to STETH, Sun’s labeled addresses show that he also holds 25,657 ethereum (ETH), worth .64 million. Lido currently offers an estimated annual percentage yield (APY) of 4%. This means that if the addresses do belong to Sun, the Tron founder is earning 4% interest on close to half a billion dollars’ worth of staked ethereum.
What do you think about Justin Sun’s reported Lido deposits and Lido’s increase this week? Share your thoughts about this subject in the comments section below.
Small Staking Pools on Cardano Boosted by Announcement of New Features
IOHK CEO Charles Hoskinson has announced several new features aimed at helping small stake pools on the Cardano network.
Staking on Cardano went live on July 29th, following the Shelley mainnet launch. Although it’s still early days, the past three weeks or so have highlighted a gulf between big and small staking pools.
Hoskinson believes that Cardano can become the most decentralized network in the world. The Shelley roadmap lays out the expectation that the project can achieve 100 times the decentralization of other networks.
“Come the end of the Shelley era, we expect Cardano to be 50-100 times more decentralized than other large blockchain networks, with the incentives scheme designed to reach equilibrium around 1,000 stake pools.”
And while the 1,000 stake pools objective has been more than met, as we are witnessing, the raw number on its own doesn’t tell the full story.
The pie chart below shows approximately eight pools control half of the network. IOG (Input Output Global) is the biggest pool with almost a fifth of the controlling stake.
Source: seeada.org
Live data at present shows that around 80 pools, or 7% of the staking pools, still have zero controlling stake of the network.
If Cardano wants to lay claim to being the most decentralized network, then action is needed to close the gap between big and small pools.
New Cardano Features Coming Soon
Hoskinson took to YouTube to talk about what Cardano is doing to boost delegation to the small staking pools.
At the moment, one wallet can only delegate to one staking pool. Although a workaround exists, in creating multiple wallets, this is inconvenient and time-consuming.
To counter this, Hoskinson proposed the idea of adding a “one to many delegation” feature. This will allow users to delegate to multiple pools from just one wallet.
“As a consequence they do atomic delegation, so they delegate all of their ADA to just one pool. Whereas if they were given the choice to do one to many, they would probably proportionally delegate, which would benefit small pools a lot.”
As well as that, Cardano intends to launch a sharable portfolio function. From this, users can share their choice of pools and allocation percentages in a “playlist”.
“not only do you have the option to delegate to that portfolio, but you also have the option to share, so you can export it. And what this means is that users can create their own, basically, playlists… and share them with the broader community.
The idea behind this concept is to match grouped pools with investor intentions. For example, Hoskinson mentioned portfolios that contain only socially beneficial pools, or small stake pools, or geographically biased pools, etc.
To add to this, the up and coming Atlas explorer will feature a function to interrogate”playlists,” allowing them access to this information.
Cardano Delegation Portfolios and Hardware Updates: https://t.co/4v6nFJIGGP
— Charles Hoskinson (@IOHK_Charles) August 18, 2020
There’s no word on when these features will roll out. But it’s reassuring for investors to know that Cardano is actively addressing the gulf between big and small pools.
Altcoins Boosted by Bitcoin Dominance Falling to 10-Week Low
Bitcoin dominance has been caught in a descending channel since May when it reached 69%. At present, BTC represents 64.9% of the total cryptocurrency market cap, a 10-week low.
Bitcoin dominance year to date. (Source: tradingview.com)
The end of last month saw the start of a sharp down leg, which has had the effect of sparking life into the alternative cryptocurrencies.
Today sees a strong performance by the altcoins against Bitcoin, leading many to wonder if the long-awaited altseason is imminent.
Is Bitcoin Dominance Starting to Break Down?
Bitcoin dominance measures the market cap of BTC against that of the rest of the other cryptocurrencies. It serves as an indicator of Bitcoin’s strength about the altcoins. As such, when BTC dominance falls, altcoins pump.
The metric has long been used as a guide to predict the coming of the so-called “altseason,
where exponential increases in altcoin valuations lead to a frenzy of activity in the market.
And as Bitcoin dominance continues to show signs of weakness, expectations are heightened for altseason to arrive soon.
With that, a trader noted that BTC dominance had broken down from its bear flag. While he warned of a possible fakeout, he also stated that this move could be the start of a favorable macro trend for the altcoins.
“focus on the next important key level 65,65% (red line), once it breaks ->altcoin party – strongly defended though for now might be a fakeout.”
Bitcoin Dominance Update
Accuracy of this thread continues to be 100%
– you see a breakout out of the bearflag as expected, but…
– focus on the next important key level 65,65% (red line), once it breaks ->altcoin party
– strongly defended though for now might be a fakeout pic.twitter.com/1IKfejDOh1— AN₿ESSA (@Anbessa100) June 26, 2020
Small and Micro-Cap Altcoins Gaining Ground
But before investors can officially call a start to altseason, Bitcoin dominance needs to drop much further, to the 58% level for this to happen. Standing in the way is strong support at around the 64% level.
Despite that, the majority of altcoins listed on Binance have today posting gains against BTC. The list of multiple double-digit gainers includes Aave, Fantom, and Chainlink, with Dogecoin leading the charge against BTC.
Source: binance.com
Dogecoin’s surprising performance is a result of viral exposure on TikTok. Thousands of creators on the social media platform have called on followers to buy Dogecoin in the hopes of driving it up to .
Community insights analysts, LunarCRUSH tweeted that social media mentions of Dogecoin were up significantly, having reached 2,294 occurrences within a day.
With 2,294 daily social post mentions, Dogecoin has formed a near-perfect and extremely bullish $doge Twinkie. https://t.co/Xwka6Sxuwl #dogecoin pic.twitter.com/ZoYPoTn251
— LunarCRUSH Social Listening for Cryptocurrencies (@LunarCRUSH) July 7, 2020
Although it’s too soon to call a start to altseason, the recent performance of some of the small and micro-cap coins would say otherwise.
That includes the likes of Zilliqa, up 223% in three months, and VeChain, up 214% in three months. Meanwhile, for comparison purposes, Bitcoin is up only 27% over the same period.
Investors have mostly forgotten about Dogecoin, until now. But with its ranking as of today’s top performer, it’s clear that investor sentiment has already flipped towards the altcoins.
Is this a trend that will continue to spread across the rest of the alt markets?
What Boosted Bitcoin (BTC) Past $10,000? These Analysts Think It’s Facebook Libra
Over the past few weeks, Bitcoin (BTC) analysts have been wrestling with what has been pushing the cryptocurrency market higher. Some have said that this swing to the upside, marking the start of so-called “crypto spring”, was catalyzed by technical events; Others have looked to fundamentals.
A recent analysis performed by The TIE, a crypto analytics provider, claims that BTC was, in fact, boosted by fundamental news. More specifically, the launch of Facebook’s digital asset purportedly boosted public sentiment regarding Bitcoin on a large scale.
Related Reading: Bitcoin (BTC) Price Tops .2K, Short Term Correction Before Higher
What Helped Bitcoin Past ,000?
As reported heavily by NewsBTC over the past day, BTC has finally broken past ,000 after months upon months of so-called “crypto winter”. Bitcoin, as of the time of writing this report, is up 0.5% in the past 24 hours, finding itself situated around ,700. Earlier Saturday, the cryptocurrency tapped ,200 but was strongly rejected, resulting in a rapid sell-off to ,300.
Per The TIE’s analysis, however, sentiment regarding Bitcoin is still widely positive. In a thread, published via Twitter, the upstart claimed that the launch of Libra “played a massive role in driving Bitcoin to ,000.”
Seen below is a sentiment chart, which collects keywords from tweets mentioning “Bitcoin”, with the value of BTC overlayed. The TIE depicts that once The Block published its report on Facebook’s partners (Uber, Spotify, Visa, Booking Holdings, & Coinbase — to name a few) for its cryptocurrency venture, “sentiment turns positive”.
1/
The Libra Coin announcement played a massive role in driving Bitcoin to ,000. After Facebook’s official partner list for Libra Coin was revealed by @TheBlock__ on June 14th sentiment on Bitcoin almost immediately flipped positive leading significant upwards price movement pic.twitter.com/Yrzatvv7r3
— The TIE (@TheTIEIO) June 23, 2019
Indeed, in the hours and days after the trade publication broke that massive tidbit of information, Bitcoin sentiment purportedly “surpassed its highest level since May 11th”, which was when BTC was trading at under ,200 per coin.
Simultaneously, the Crypto Twitter-sphere also saw an uptick in tweet volumes, with 24-hour volumes rising from 30,000 to over 40,000 — a gain of somewhere around 33% — “within hours”.
Tweets involving Libra and Bitcoin themselves have also been widely positive. The TIE writes, 62% of Bitcoin tweets were positive on June 19th, and many of those mentioned Libra and Facebook. This implies that the arrival of a large corporation, a Silicon Valley firm no less, into the cryptocurrency space was deemed by many to be a net positive.
What’s also important is that even five days after the launch of Libra, 10% of all Bitcoin-related tweets still purportedly mention Libra in some way, shape, or form — the biggest reception a new cryptocurrency has seen “going back to at least 2017”.
Related Reading: Bubble Hasn’t Begun: Google Trends Shows Little Interest in ,000 Bitcoin
These figures, in the eyes of The TIE, are clear signs that Facebook’s first consumer-facing cryptocurrency & blockchain play is undoubtedly behind BTC’s recent move above ,000.
Launch of Libra Drew Mainstream Eyes
That’s not all. In closing, the analytics company suggested that a large portion of the tweets mentioning Libra are from a consumer, non-crypto-native audience. Backing this claim, they explain that the number of tweets regarding this newfangled venture was, on its “best day”, six times highs than tweets involving BTC. They postulate:
“Libra is driving increased conversations around cryptos more broadly. It will be interesting to see how sustainable this development is.”
Indeed, Libra has undoubtedly resulted in a growth in the awareness of cryptocurrency. On its launch, every mainstream media, from Bloomberg and The Verge to the New York Times and Fox Business, were all over this news event. And anecdotally, this writer has heard many a question about the project from his friends and family.
This all ties (haha, get it?) in with the theories that Libra’s launch will actually add to Bitcoin’s network value, not subtract as some cynics have suggested. Per previous reports, Max Keiser, a prominent anti-establishment proponent (that wants to burn fiat at an upcoming Bitcoin conference), explained that Facebook’s cryptocurrency will be instrumental in the success — not downfall — of Bitcoin.
More specifically, the investor, who speculated in 2011 that BTC will eventually surmount the auspicious price point of 0,000, noted that Libra will inherently drive Bitcoin’s hash rate higher. This, due to simple network effects and the capex (capital expenditures) of miners, should be the catalyst that drives BTC to new all-time highs, meaning past ,000.
The RT contributor, who recently released a series outlining Bitcoin’s history dubbed “To The Moon”, claimed that by virtue of green lighting Libra, Facebook’s Mark Zuckerberg is now a “BTC drone.” Let’s wait and see if that is the case.
Featured Image from Shutterstock
The post What Boosted Bitcoin (BTC) Past ,000? These Analysts Think It’s Facebook Libra appeared first on NewsBTC.
Crypto Market Wrap: What Big Announcement Has Boosted Stellar?
Crypto markets inching slowly higher; Stellar is moving up, Cardano and NEM not far behind.
Market Wrap
Crypto markets are slowly inching higher over the weekend indicating a big move could be bubbling up. Most of the major coins have not done much but larger swings by one or two has lifted total market cap slightly. It is currently approaching 5 billion and there is more green than red on the boards this Sunday morning.
Bitcoin made it to an intraday high of ,985 which is the highest it has been for two weeks. BTC has since pulled back to ,950 but it has remained over ,900 for the past 24 hours and added one percent on the day. The next move is a break above ,000 which could come in the next few hours.
Ethereum has made a little back to reach 7 again but gains are marginal and ETH has done very little for the past few days. XRP is in the same situation and the gap between the two remains the same as the Ripple tokens trades sideways at .312.
The top ten is mostly in the green during today’s Asian trading session. One altcoin surging above the rest at the time of writing is Stellar which has made 7% on the day. XLM has reached .094 almost equaling its monthly high. Stellar has been one of the weaker altcoins over the past few months getting surpassed by its brethren in terms of market cap. The community is expecting a big announcement at the upcoming Money 20/20 fintech event which could be driving momentum. Bitcoin Cash is the only other altcoin with a decent gain as it makes almost 3%, the rest are a fraction of a percent off yesterday’s prices.
There are a couple of movers in the top twenty at the time of writing, namely Cardano and NEM. ADA has added 5% on the day allowing it to flip Bitcoin SV and take eleventh spot and NEM has made 7.5%. The rest are pretty immobile with Maker and Ontology slipping back slightly.
FOMO: Cosmo Coin Climbing
Today’s big pump is Cosmo Coin which was recently added to the supported cryptos on Samsung’s new Galaxy S10. The Korean cosmetics based token has surged 46% on the day as it enters the top one hundred. The Cosmee service has been enabled on the Galaxy wallet which has generated the pump for COSM;
Greetings from Cosmochain,
We are notifying that Cosmee service is currently available through the Galaxy Wallet.
For more details about the announcement, please visit our Facebook page!https://t.co/pIOcpdFYOD
— Cosmochain(COSM) (@Cosmochain) March 9, 2019
THETA is also getting a boost today as it gets lifted 28% as the run up to mainnet launch gathers momentum. The only double figure dump is yesterday’s pump, Project PAI dropping 14% on the day.
Total crypto market capitalization has crept up about a billion bucks to 4 billion where it has remained for the best part of the past 24 hours. Daily volume is still high at billion indicating a further move to the upside could be imminent. Since the same time last weekend crypto markets have recovered 3% while Bitcoin dominance has fallen to 51.6%.
Market Wrap is a section that takes a daily look at the top cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals.
The post Crypto Market Wrap: What Big Announcement Has Boosted Stellar? appeared first on NewsBTC.
Despite Bear Market, Crypto Startups Got Boosted By Billions In 2018
Taking a brief gander at crypto’s daily trading volumes, it is more than apparent that the number of investors, along with capital allocated, has all but dissipated over the course of 2018. Some have even argued that Bitcoin has left the mainstream consciousness, and could potentially be on its last legs.
Related Reading: Bitcoin Rally To Be Preceded By More “Crypto Is Dead,” Layoffs, Regulation, Says Investor
Chris Burniske, a partner at Placeholder Ventures, once explained that the days “cryptocurrency” and “blockchain” were plastered all over mainstream media, as CoinMarketCap sat open on the smartphones and laptops of millions the world over are long gone.
![](https://www.newsbtc.com/wp-content/uploads/2019/03/xxxxxx.png)
VC Deals in 2018 (Source: Diar)
In fact, more likely than not, retail investors en-masse have removed CoinMarketCap from their bookmark list, purged their Coinbase and Binance accounts, and unfollowed crypto’s most eccentric commentators on Twitter.
But, venture capitalists have kept their ears to the cryptocurrency ground, taking the lack of public interest in this asset class to their advantage. Face it, this subset of the investing realm is entirely opportunistic. And from their perspective, if Bitcoin and related technologies are to succeed over the long haul, now is arguably the perfect time to build solid portfolios, which accentuate asymmetric risk/return profiles.
Equity Was Hot, Even As Bitcoin Plunged
Research completed by Diar, a crypto analytics publication, recently confirmed that while the lackluster (understatement) performance of the Bitcoin price has deterred all but the zaniest traders, venture groups and investor groups of similar caliber have kept their proverbial pedals to the metal.
In the publication’s most recent edition, it was explained that while 2018 was a “bloodbath for cryptocurrencies,” what Diar deemed “blockchain-led” operations secured .6 billion in fiat investment over yesteryear.
We've published our latest issue for your read:#Bitcoin Retail Investor Holdings Continue Incremental Growth
Major #Cryptocurrency Miners Banking on Empty Blocks#Blockchain Focused VCs Setup Intertwined Financial Infrastructure@coinbase Lists XRPhttps://t.co/iOrtZzL9VP— Diar (@DiarNewsletter) February 25, 2019
Diar claims that since stakes in cryptocurrency startups became a viable investment vehicle, billion has been siphoned into such opportunities — no small sum to say the least. Interestingly, the .6 billion the crypto war chest saw comes it way in 2018 primarily pertained to trading infrastructure, rather than blockchain projects in and of themselves.
Coinbase, Circle, Kraken, three notable American cryptocurrency service providers, raised 0 million collectively even “long after the bubble burst.” Bakkt and its competitors, in ErisX and SeedCX, have also secured hundreds of millions, as many, including Fundstrat Global Advisors, argue that proper regulated, institution-friendly, and multi-faceted fiat on-ramps and off-ramps is currently something curbing this space.
Interestingly, the trend of equity investing has continued into 2019.
According to previous reports from this outlet, Chainalysis, a blockchain research and software provider startup, secured million in its recent Series B, led by the San Francisco-based Accel Ventures, which also has a stake in Circle. Chainalysis, which actively aids American governmental agencies (Department of Justice, Securities and Exchange Commission, etc.) in crypto-related cases, is looking to bolster its staffer lineup and European operations with this funding influx.
Coin Metrics, a Bitcoin-centric blockchain research unit based out of Massachusetts, recently raised .9 million, as it seeks to make much-needed information available to a wider population, thus increasing the health of this nascent space.
Kraken itself even made a nine-figure deal, completing the biggest industry deal of 2019 so far. The company acquired CryptoFacilities, a European Bitcoin derivatives provider, to start its foray into the array of alternative investment products. The details of the deal were scant, but it was explained that Facilitates gained at least 0 million from its business partner.
Institutions Continue Bolstering Crypto Holdings
Although much of crypto startups have garnered capital from Silicon Valley venture groups, like the world-renowned Andreessen Horowitz, this jaw-dropping funding figure has hints of institutional involvement sprinkled throughout.
Case in point, citing a number of sources familiar with the matter, Singapore’s primary sovereign wealth fund, GIC, purportedly participated in Coinbase’s historic 0 million funding round that concluded in October 2018. For those who missed the memo, this round, which valued the now-XRP-friendly Coinbase at billion, was led by Tiger Global and Andreessen Horowitz. So interestingly, Singapore’s involvement in the San Francisco-based company wasn’t initially disclosed.
GIC isn’t the only incumbent of legacy finance to have allocated millions to the Bitcoin cause. Bakkt’s parent company, the Intercontinental Exchange (ICE), gave its cryptocurrency foray hundreds of millions in capital, as it nears its launch.
The University of Michigan’s endowment, valued at a hefty billion, was recently revealed to have its eyes set on giving a hefty cheque to a16z, specifically for its CNK fund that invests in blockchain ventures.
And arguably most notably, two pension funds headquartered in Fairfax County, Virginia, were the principals behind Morgan Creek Digital’s million venture fund, which has up to a 10% allocation in physical cryptocurrencies, like Bitcoin and Ethereum, as the remaining capital gets siphoned into equity deals with promising projects with visions of grandeur.
Featured Image from Shutterstock
The post Despite Bear Market, Crypto Startups Got Boosted By Billions In 2018 appeared first on NewsBTC.
Cryptocurrency Market Update: Bitcoin Cash Boosted on Stress Test Day
FOMO Moments
Sunday seeing further gains; Bitcoin Cash, Neo and Verge all performing solidly.
That green feeling has continued over the weekend in crypto land as the recovery gains momentum. Market capitalization has climbed a little again pushing it over 5 billion, its highest level for over three weeks.
Bitcoin keeps climbing, albeit very slowly, it has made 2.3% on the day to trade at ,230. The next resistance level for BTC is ,350 which it could reach soon if momentum is maintained. Ethereum has finally made a little progress inching ever closer to 0. ETH is up 3.6% on the day and currently trading at 7.
Altcoins are mostly in the green with a couple really standing out at the moment. The top ten shows Bitcoin Cash streaking away with the lead and a 17% gain on the day to 7. BCH was one of the worst performing cryptos in August dropping 30% over the month. The community is currently conducting a stress test on the network which will determine transaction speed and stability, and this is likely to have affected trade volume which has over doubled.
The Biggest Community Driven Stress Test Of Any Blockchain
So far $BCH has processed 1,265,876 transactions in the past 24 hrs
BMG Pool just mined a 10 MB / 44,705 transaction blockhttps://t.co/G135pUEmUHhttps://t.co/CLYp8rjbJdhttps://t.co/V5ver1Eaa6https://t.co/U1nlqzntSp pic.twitter.com/6Y2hND3YNg
— Bitcoin Cash (@BITCOlNCASH) September 1, 2018
Litecoin is up another 4% to but the rest are just 2-3 percent higher on the day. Leading the top twenty is another of last month’s big losers, Neo, which is up 9% on the day to . Good gains have also been made by Dash and Tezos, climbing 5-6 percent at the moment. Verge is leading the top one hundred race with a 22% pump to .019 at the moment. An update to the XVG roadmap seems to have driven momentum;
We have adjusted our #roadmap to reflect the most current status levels. https://t.co/28lN1yHvoJ #Vergecurrency #XVG $XVG
— vergecurrency (@vergecurrency) August 31, 2018
After yesterday’s pump, Reddcoin is losing the most right now with a 6.5% decline, Monacoin and TaTaTu are also down 5% on the day.
Total market capitalization has climbed another 2.6% on the day to 8 billion. Trade volume has remained the same at billion but a steady recovery seems to be happening. Time will tell if this can be prolonged to the end of the year or the bears will get back into a selling frenzy to push cryptos back down to their yearly lows.
More on Bitocoin Cash can be found here: https://www.bitcoincash.org/
FOMO Moments is a section that takes a daily look at the top 30 altcoins during the current trading session and analyses the best performing ones, looking for trends and possible fundamentals.
The post Cryptocurrency Market Update: Bitcoin Cash Boosted on Stress Test Day appeared first on NewsBTC.
Asian Altcoin Trading Roundup: Icon and Siacoin Boosted by Binance
FOMO Moments
Current performing altcoins are Icon, Siacoin, Cardano and Bytom.
Today marks the fifth day of market decline. Since the rout started on Sunday over billion has been wiped off the crypto markets. Total capitalization plunged below 0 billion and the down trend has steepened. Bitcoin is still down on the day but the momentum has slowed and it has leveled out at just over ,500. Ethereum has also been battered and is still falling, down 2% on the day to around 0, its lowest level since the lows of early April. Altcoins are generally bearish after suffering heavy losses this week. A couple are bucking the trend during Asian trading this morning and those coins are Icon and Siacoin.
Coinmarketcap is currently reporting an 11% gain for South Korean crypto Icon. Currently trading at .12 ICX is up from .89 this time yesterday. Over the past seven days though this altcoin, along with all of the others, has suffered heavy losses falling 22% from .70 this time last week. Monthly losses are even greater with Icon plunging 46% from .85 this time last month. Against Bitcoin Icon is up 11% on the day to 32200 satoshis from 28800 sats this time yesterday. On the week ICX has lost 7.5% against BTC falling from 36800 satoshis this time last Thursday.
Current momentum has been driven by the Binance announcement on Icon mainnet token swap support and a new ICX/USDT listing on the exchange.
#Binance Supports #ICX Mainnet Swap and Adds $ICX/USDT Trading Pair https://t.co/Wn3NTexF9u pic.twitter.com/tGf5dpLXXF
— Binance (@binance) June 13, 2018
Binance has also boosted Siacoin which is up 10.7% with the news of that being listed;
#Binance Lists #SiaCoin ( $SC )https://t.co/BkyFi6GJ6Y pic.twitter.com/z71A74Q5Wn
— Binance (@binance) June 14, 2018
Unsurprisingly Binance is the top exchange for Icon trade with over 70% of the total. Trade volume has jumped significantly in the past 24 hours from million to million in daily trade. ICX currently has a market cap of 0 million positioning it at 23rd in the crypto charts. The team are very active with partnerships and progress so this altcoin is expected to recover well.
Total market capitalization has fallen for the fifth consecutive day. The fall is slowing however and only 1.6% has been lost over the past 24 hours leaving it at 9 billion. There are very few altcoins showing recovery today aside from Icon and Siacoin. Those that are include Cardano up 4.5% on a Bithumb listing, and Bytom up 7.5%.
More on Icon can be found here: https://www.icon.foundation/
FOMO Moments is a section that takes a daily look at the top 25 altcoins during the Asian trading session and analyses the best performing one, looking for trends and possible fundamentals.
The post Asian Altcoin Trading Roundup: Icon and Siacoin Boosted by Binance appeared first on NewsBTC.