Cosmos (ATOM) is one of the coins featured in our coming altcoin news. As Cosmos surges and goes beyond its regular gains, it surprises a lot of people by inserting itself into the top fifteen of the market cap. This is why we decided to give this altcoin a credit in this week’s news.
The trade volume of ATOM peaked as high as $191 million. As Cosmos surges, there are other questions popping. Specifically, analysts are wondering how much of Cosmos’ numbers can be trusted given that they typically originate from exchanges that are known for inflating volume. The altcoin news also show people wondering how a coin like ATOM can go from an ICO price of 10 cents to five dollars overnight – and wondering if and when will this pump be crashing.
The fact is that Cosmos surges and its trade volume is big. As we can see, crypto platforms like Bibox, Huobi, Hotbit, Upbit and OKEx all processed more than $191 million of ATOM’s volume on Saturday – but were also accused of inflating trade volume in the past – which leaves a lot of dust in this case.
As Cosmos surges, ATOM ranks at #17 on the total cryptocurrency market cap. The price of ATOM initiated at $0.10 and now stands over $5. However, even though the Cosmos gains seem like the coin appeared overnight, its ICO was launched in late 2017 and a large amount of coins had been locked up in a contract until just a few weeks ago.
Much of the coin’s recent growth also came after it was listed on Binance – which is the main reason why Cosmos surges as we speak. Literally, as soon as ATOM was listed on Binance, the coin’s price has jumped by 41% and 64% in a week, accordingly. The 64% growth was recorded in a week as the Cosmos (ATOM) coin climbed from $3,40 to a peak of $5.58 as many best cryptocurrency news sites reported.
The Cosmos gains are still here and visible over the past 24 hours. However, even the most optimistic Cosmos holders are fearing out because a correction has never happened to the coin – and are scared that its price may drop by big percentages overnight. If you want to take a better look at what the Cosmos project is all about and see all of its partnership in the ecosystem, visit this link.
P2P Dash And Bitcoin Transactions Skyrocket In Venezuela
‘’In countries where residents are under pressure from economic mismanagement, Bitcoin trading becomes critical. Two factors drive Bitcoin trading: one, there is pressure to purchase Bitcoin using local currency before it loses even more value; and two, there is a need to redeem for the local currency either past purchases or purchases made outside the country by friends/family, enabling residents to cope with rising prices. This results in an increase in Bitcoin trading in the local currency.’’
Trading Platform Giant Binance Announces The Launch Of Venus
“We believe that in the near and long term, stablecoins will progressively replace traditional fiat currencies in countries around the world, and bring a new and balanced standard of the digital economy. We hope to achieve a vision, that is, to reshape the world financial system, allow countries to have more tangible financial services and infrastructures, protect their financial security and increase the economic efficiency of countries.”Venus is an open blockchain project that will develop localized stablecoins and digital assets pegged to fiat currencies so Binance will start providing full process technical support, compliance risk control and multi-dimensional cooperation network in order to build the new cryptocurrency but also will leverage its existing infrastructure and regulatory establishments according to the co-founder of Binance. The exchange also noted that they welcome more governments, companies, and organizations that have a huge influence on a global scale in order to collaborate with it for the new Venus initiative. Facebook’s cryptocurrency Libra has a similar structure. The goal is to serve the unbanked people and to facilitate low-fee money transfers around the world. Libra is expected to go live in the year 2020 but it has already faced scrutiny from many banks and politicians around the world. Facebook has stated recently in a risk disclosure filed with the Securities and Exchange Commission that Libra will never launch because there is no significant regulatory scrutiny. Binance, on the other hand, stated that it believes that Libra will grow at an exponential rate and will, therefore, reshape the world financial system. They also noted that Libra could bring changes more than the Internet did as per the announcements that we have in the latest cryptocurrency news:
“Instead of resisting change and losing the opportunity, it is better to embrace change. […] At the same time, ‘Libra’ needs to be developed in an orderly manner under the regulatory framework.’’
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