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International, multi-language cryptocurrency exchange behemoth Binance has officially announced the fourth quarterly coin burn of its in-house Binance Coin token (BNB).
The announcement comes via Binance’s founder and CEO, Changpeng Zhao, on Twitter — where the business executive wrote:
@binance is doing a final tally on the numbers, and will announce our 4th quarterly burn in the next day or so, and finish the burn within a couple days after that. Thank you for your patience and support!
Binance trades the lion’s share of all $ BTC today recording trades amounting to 4.59% of a worldwide volume of $ 3.3 billion dollars – as OKEx and Bitfinex fall to fourth and sixth place. Bitcoin is up 1.91% in 24 hours, down -5.89% on the week and down -4.26% on the month on a last price of $ 6355.92. The Bitcoin marketcap is $ 109,008,235,619 with a circulating supply of 17,150,662 $ BTC. $ BTC/USDT is trading between a 24hr high of $ 6395.00 and a 24hr low of $ 6205.00 on a 24hr Binance volume of $ 151,800,000. This trading volume is moderate. The weekly price trend is mixed.
$ PASS Token Airdrop
In this week’s daily editions of Bitcoin in Brief we reported about a couple of new exchanges, a major security breach at Bancor, and why the Binance CEO came out against Ethereum founder Vitalik Buterin. This week’s most commented-on article covered the Nobel laureate economist Joseph Stiglitz, who predicted that cryptocurrencies will be “regulated into oblivion.”
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A Saturday evening in the cryptocurrency world is always interesting for various reason. Although this Saturday has not seen any major bullish momentum, the Binance Coin price is still rising rapidly. Its value has surpassed $ 14 yet again, whereas all other cryptocurrencies are in the low red.
In the financial world, nothing can go up in value indefinitely. This is also true in the world of cryptocurrency, where volatility is the name of the game first and foremost. For the Binance Coin price, this volatility has not had too much of an impact just yet. Its value still remains near the $ 14 level despite some losses for Bitcoin and Ethereum.
Syscoin has been hit by an unusual hack that has manipulated the coin’s total supply. The attackers then sent the fraudulently generated coins to Binance and sold them, pushing the price of 1 SYS to as high as 96 BTC. The BTC they received was then withdrawn, prompting Binance to temporarily cease trading and to reset all APIs, which are believed to have facilitated the attack.
Also read: EU Report Advises Regulators Not to Ban or Ignore Cryptocurrencies
Syscoin’s blockchain was supposedly jeopardized yesterday as abnormal activity took place at block 87670. Widely irregular trading activity took place on Binance — resulting in a deal worth upwards of $ 6 million. Syscoin’s team confirmed the issues and requested a temporary halt of trading across cryptocurrency exchanges. The issues, however, have reportedly been resolved.
Peculiar activity on the Syscoin blockchain took place at block 87670, as more than one billion coins were mined. This triggered a red flag, of course, since the cryptocurrency’s total possibly supply is set to 888 million.
When it rains, it pours. This old saying has been quite appropriate in many cases, especially when looking at cryptocurrency prices. Although no major downtrend is happening right now, it is evident things are not going according to plan. That is, except for the Binance Coin price, which still notes a solid 4% increase.
It has been quite an interesting year for the Binance exchange Not only has the company become the largest crypto trading platform in the world, but they also set up shop in Malta. Additionally, some humanitarian efforts are taking place in Uganda. All of this has a positive impact on the Binance Coin price, which continues to soar despite the negative momentum.
Binance, a cryptocurrency exchange behemoth, is set to launch a $ 1 billion fund for cryptocurrency and blockchain technology startups. Ella Zhang, Head of Binance Labs, announced the establishment of the fund during an online meetup session on May 31, 2018.
The world’s largest cryptocurrency exchange platform will invest $ 1 billion, in ten separate phases of $ 100 million each, into what has been dubbed the “Social Impact Fund.” The program will purportedly invest in startup projects and cryptocurrency/blockchain funds. According to Ella Zhang, Head of Binance Labs, the company plans to collaborate with 20 such cryptocurrency/blockchain funds, which must manage assets worth at least $ 100 million to be eligible to participate in the Binance Social Impact Fund.
Binance has provided an update in regards to the upcoming EOS Mainnet Token Swap.
The team at Binance has communicated directly with the EOS team and has since confirmed that the EOS ERC20 Token Network will freeze at 9:59:59 PM UTC on June 2nd.
According to an official announcement, Binance will reopen EOS deposits until 4:00 PM UTC on June 2nd. After that time, the popular exchange “will suspend deposits again and process the EOS Mainnet Swap as previously announced.”
Binance has announced it is launching a $ 1 billion “Social Impact Fund” to foster the growth of startups in the blockchain and cryptocurrency space.
CoinDesk
