There are 4k crypto ATM worldwide, according to Сoinatmradar. The leader is North America with 71.3% of all machines installed, following by Europe (25%) and Asia (2.56%). The most popular altcoins are LTC and ETH, correspondingly. Rates come up to 8.85% buying rate and 7.9% selling rate on average
Crypto ATM's Infrastructure
MakerDAO (MKR) transitioned to the long-awaited Multi-Collateral Dai (MCD) system that allows Basic Attention Token (BAT) to be used as collateral in addition to Ethereum ahead of other tokens. AccordThe post Multi-Collateral Dai goes live with Ethereum and BAT as collateral appeared first on AMBCrypto.
Bitcoin has been outperforming most cryptocurrencies throughout this whole year. Bitcoin’s total market capitalization dominance has been increasing dramatically since January 2018 when it was only at around 30%. Bitcoin reached 50% dominance in January of 2019 and almost broke above 73% only 2 months ago. There has been a lot of discussions about when will altcoins take over or if they will take over at all. Currently, the market seems to be simply following Bitcoin’s steps but what would it take for altcoins to finally get away from Bitcoin? The main reason Bitcoin is so dominant is the fact that it holds most of the cryptocurrency pairs and fiat pairs. A new investor that wants to buy a new cryptocurrency will need to first buy Bitcoin or one of the few major cryptocurrencies in order to exchange it for the one he wants. What are Market Pundits Saying? It does seem that in the past few months, some of the larger cap coins have been exceeding Bitcoin’s performance, BNB has been a clear example throughout the whole year but has slowed down significantly. A crypto pundit Gautam Chhugani tweeted recently about his unpopular opinion of how altcoins will lead the next rally and Bitcoin will simply follow. Unpopular call: Alts will show Bitcoin the way this time. ETH, BNB will lead the rally. Bitcoin will follow. This tweet really started to gain traction when Changpeng Zhao, CEO of Binance, responded with: Popular with me. pic.twitter.com/XnIvE9Wmc6 — CZ Binance (@cz_binance) November 17, 2019 Now, this isn’t necessarily a very objective view as CZ wants altcoins to thrive because of BNB, however, other analysts have also mentioned the possibility of a new altcoin season. CryptoBitLord, a cryptocurrency trader, has said in the past that he believes the bottom for altcoins is in and this is the time to ‘go all in’ if you are into it for the long term prospect. Blockchain advisor and crypto trader, Rand has said something quite similar as well, Inference The sentiment does seem to be positive about altcoins, however, Bitcoin’s dominance is still really high even after losing 4% in the past month. Altcoins still need to prove a lot and it will be puzzling, especially with Bitcoin’s halving coming up soon. Either way, a bull run will avail everyone, altcoins, and Bitcoin. The post Ethereum and Binance Coin to Lead Next Major Rally as Altcoin Season Looks to Prevail appeared first on ZyCrypto.
On November 15, the digital currency trading platform Coinex announced the launch of two Coinex Chain tokens that are anchored to BTC and BCH. The two collateralized coins will be used for trading on the Coinex Dex and will be traded in the name of the original assets respectively. Also read: Bitcoin.com Joins the Coinex Chain Pre-Election Node Process Coinex Chain Launches Tokens Anchored to BTC and BCH During the last few years, stablecoins collateralized by fiat have been extremely popular but decentralized finance (defi) concepts and other types of collateralization techniques have been prominent as well. Projects like Maker and the stablecoin dai alongside the Wrapped Bitcoin (WBTC) platform show the growth of collateralization. For instance, there is $5 million locked in WBTC, $345.5 million in Maker, and 1.8 million ETH being used as collateral for the 147,876 vaults (CDPs) created. The cryptoconomy’s collateralization effect has been massive and can be seen with projects like Maker and WBTC. Another instance of a collateralized coin is Sideshift.ai’s BTC2, which uses the Simple Ledger Protocol (SLP) built on the BCH chain. There are only 100 BTC2 tokens but the coin allows users to swap BTC and simultaneously benefit from the low fees on the BCH network. Just like with ETH and BTC, there’s been a rising trend of collateralization techniques recently using the Bitcoin Cash network. Now the cryptocurrency firm Coinex has revealed the launch of two anchored tokens that leverage the Coinex Chain and the Coinex Dex platform. “BTC-Coinexchain and BCH-Coinexchain are tokens based on Coinex Chain anchored with original BTC and BCH at a ratio of 1:1, and their value is supported by the original tokens BTC and BCH reserved in Coinex and accepted by Coinex,” the crypto exchange announced on Friday. “On the Coinex Chain, [the tokens] BTC-Coinexchain and BCH-Coinexchain will be circulated and traded in the name of BTC and BCH respectively.” Coinex added: [The tokens] are meant to ensure the Coinex ecosystem develops in a sustainable way and facilitates the vision of ‘building a world-class encrypted digital asset trading platform’ and the prosperity of the Coinex Chain ecosystem. The trading platform Coinex recently announced the creation of a public decentralized exchange (dex) blockchain that leverages the consensus protocols Tendermint and the Cosmos SDK. The Collateralization Effect Coinex users can obtain the BTC-Coinexchain and BCH-Coinexchain tokens using the company’s traditional exchange. On the Coinex Dex, the two tokens will be paired against the firm’s native exchange token CET. “[If] the user chooses BTC-Coinexchain and BCH-Coinexchain as the public chain when he or she withdraws tokens from the exchange, then the anchor tokens will be remitted,” the Coinex announcement emphasizes. “If the user chooses BTC and BCH as the public chain from the exchange when he or she withdraws tokens from the exchange, then the original tokens will be remitted.” The new Coinex Chain anchored tokens follows the recent launch of its public decentralized exchange (dex). Users can create a wallet for the Coinex Dex and gain access to the trading platform dashboard, issue tokens, and view and vote on proposals and delegations. Signing into the Coinex Dex dashboard shows traders are currently trading CET against BTC using the BTC-Coinexchain token. The Coinex Dex CET/BTC market. The launch of the two new Coinex Chain tokens shows that the crypto collateralization trend continues to grow and it could become a dominant force within the blockchain economy. Many crypto analysts have been observing the collateralization direction, like the partner at Placeholder VC, Chris Burniske. “Long run, I expect assets that aim to be a store-of-value [SoV] (eg, BTC, DCR, ETH) to be much more widely used as collateral than as a means-of-exchange [MoE],” Burniske tweeted on Sunday. “My opinion: BTC should lean into this, just as ETH has,” Burniske remarked further. “The burgeoning ‘collateral economy’ around ETH is amazing to watch, and allows ETH as an SoV to extend its utility far beyond what it could hope for as a pure MoE.” What do you think about Coinex launching two anchored tokens backed by BTC and BCH on the Coinex Chain? What do you think about the growing trend of crypto collateralization? Let us know what you think about this subject in the comments section below. Image credits: Shutterstock, Coinex Chain, Coinex Dex, and Defi Pulse stats. Are you a developer looking to build on Bitcoin Cash? Head over to our Bitcoin Developer page where you can get Bitcoin Cash developer guides and start using the Bitbox, SLP, and Badger Wallet SDKs. The post Coinex Chain Launches Two Tokens Anchored to BTC and BCH appeared first on Bitcoin News.