Binance doesn't stand still: walking from DEX demo to the extremely high listing charge

Binance doesn't stand still: walking from DEX demo to the extremely high listing charge

Why it's hard for countries to adopt blockchain, Ukraine proposes tax on crypto income, Colorado as a 'blockchain hub', Google search can predict BTC price, Bangkok police arrested crypto fraudster, Binance wants a lot for token listing

Bitcoin

BTC
Price
3,992 USD -0.49%
Volume, 24h
1,245,724,003 USD
-3.93%
Marketcap
70,351,514,991 USD
50%
Emission
84%

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Bitcoin (BTC) Price Still In Strong Uptrend, Buying Dips Favored

Bitcoin price traded to a new monthly high at $4,064 and later corrected lower against the US Dollar. The price declined sharply below $3,950, but dips remained supported above $3,900. There is a crucial bullish trend line formed with support at $3,920 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair remains well supported on dips near the $3,920 level and the 100 simple moving average (4-hours). Bitcoin price is still in a strong uptrend despite recent bearish moves against the US Dollar. BTC/USD is likely to find a solid buying interest if it dips towards $3,940 or $3,920. Bitcoin Price Weekly Analysis (BTC) This past week, there was a decent upward move above $4,000 in bitcoin price against the US Dollar. The BTC/USD pair traded in a range above the $3,940 support level and finally broke the $4,000 resistance level. Buyers pushed the price above the $4,020 resistance and a new monthly high was formed at $4,064. However, buyers failed to hold gains above $4,020, resulting in a sharp decline below $4,000. The price dropped heavily and broke the $3,960 and $3,940 support levels. There was even a spike below the $3,900 support and the 100 simple moving average (4-hours). Having said that, buyers defended the $3,900 support and the price bounced back sharply above $3,940. There was a break above the 50% Fib retracement level of the last decline from the $4,064 high to $3,869 low. The recent recovery was solid, but the price faced a strong offer zone near the $4,000 resistance. The 61.8% Fib retracement level of the last decline from the $4,064 high to $3,869 low also acted as a hurdle. At the moment, the price is consolidating below the $4,000 resistance. Besides, there is a short term connecting bearish trend line in place with resistance at $3,990 on the 4-hours chart of the BTC/USD pair. A clear break above the trend line and $4,000 could open the doors for a fresh upward move. On the downside, there are many supports near the $3,940 and $3,920 levels. There is also a crucial bullish trend line forming with support at $3,920 on the same chart. Looking at the chart, BTC price is clearly well supported on the downside near the $3,940 and $3.920 levels. As long as the price is above the $3,900 support and the 100 SMA, there are chances of a steady rise in the coming sessions. Buyers may wait for a clear break above the $4,000 and $4,020 resistance levels to gain control. Technical indicators 4 hours MACD – The MACD for BTC/USD is slightly placed in the bearish zone. 4 hours RSI (Relative Strength Index) – The RSI for BTC/USD is currently well below the 50 level. Major Support Level – $3,900 Major Resistance Level – $4,020 Bitcoin (BTC) Price Still In Strong Uptrend, Buying Dips Favored was last modified: March 24th, 2019 by Aayush JindalThe post Bitcoin (BTC) Price Still In Strong Uptrend, Buying Dips Favored appeared first on NewsBTC.
NewsBTC/analysis

Binance looking to roll-out margin-trading service as regulators voice disapproval

Binance, the second largest cryptocurrency exchange by adjusted volume is preparing to launch a margin trading system that will make trading volatile digital assets riskier than it already is, reported TheBlock. Retail customers are a mainstay with the exchange and to further increase their customer count, Binance will allow them to trade on the margin, state sources close to the exchange. This feature will allow investors to trade on borrowed funds and the coin held will be placed as collateral for the issuer, which spikes the risk of the transaction even more. The report does say that there is no margin trading currently on offer and that no confirmation of a future approval was provided by Binance. However, there were rumors circulating that in order to use the margin feature, users would need to hold the exchange’s native token, Binance Coin [BNB]. Binance’s Application Programming Interface [API] showed a margin trading feature, which was discovered by a programmer on Reddit earlier this week. Given this revelation, cryptocurrency proponents believed that an imminent update would include a margin trading feature. The programmer stated: “This change has not been reflected on the documentation. Further analysis of the response revealed that all 482 trading pairs have spot trading enabled and margin trading disabled; which makes sense. However, this API update implies that Binance is considering the implementation of margin trading features.” Changpeng Zhao, the CEO of Binance, eased the concerns of the community, stating on March 22 that the exchange has not yet scheduled the inclusion of margin trading on their platform and that this was part of a “future proof” for their API. He stated: “We future proof our API framework as part of our system upgrades. No dates.” Regulators across the world have consistently warned their investors of chiding margin trading as it greatly increases the risk of investing. Furthermore, a volatile underlying asset like digital currencies inflates the risk even more. A note by the Securities and Exchange Commission [SEC] on the topic stated: “The downside to using margin is that if the stock price decreases, substantial losses can mount quickly.” Cryptocurrency exchanges have been ramping up margin trading options for their investors, given its popularity. Notable exchanges like Kraken, Bitfinex, and BitMEX already have this form of arbitrage on offer. Needless to say, regulatory oversight will increase once an exchange of the size of Binance introduces margin trading. The post Binance looking to roll-out margin-trading service as regulators voice disapproval appeared first on AMBCrypto.
AMBCrypto

A Citigroup job ad suggests blockchain initiatives are heating up at the bank

JPMorgan's got JPMCoin. And Goldman Sachs has its "bitcoin" trading desk.  But don't sleep on Citigroup. The New York-based financial services firm appears to be just as deep in the blockchain world as its cross-town rivals — at least according to a recent crypto job ad.  As per a LinkedIn ad for a blockchain role, one unit of the bank — Citi Markets and Securities Services — is working on initiatives across the crypto landscape.  "Citi Markets and Securities Services business is working on a number of Blockchain/ Distributed Ledger Technology (DLT) and Digital Asset initiatives that span asset classes, businesses and regions," the bank notes. The product manager position is no longer accepting applications (sorry hopefuls!).  The ad asserts that the bank has a wide-range of crypto clients, noting:  "We are working with clients, Financial Market Infrastructures (FMIs) (i.e., exchanges, clearing houses, and settlement venues), and FinTech providers. These initiatives have continued to grow and are in various stages of the innovation and deployment funnel. We expect our engagement to continue to expand as Blockchain/DLT technology continues to evolve and will impact our business on multiple fronts." The role would play a "key part" in driving "multiple internal and external engagements," according to Citigroup. Still, a recent report by CoinDesk shows the bank stepped away from one notable crypto project, dubbed Citicoin. The JPMCoin-like project was never announced and was being worked on out of its Ireland offices.
The Block Crypto

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