First Binance Liquidation happened today on the platform after the exchange continues its test for the new margin trading feature so we are reading more about it in the altcoin news today.
As Binance CEO Changpeng Zhao confirmed on Twitter today on June 24th, that the pilot scheme brought up to the first binance liquidation and might be very painful for those involved. The Bitcoin price continued to fluctuate even today at press time after reaching $11,300 on some of the exchanges before correcting downwards below $10,600. The major price moves can prove very costly for the margin traders since the world leading crypto exchange chose to steer clear of the sought-after but it is however potentially dangerous tool.
The margin trading accounts’ face on major exchanges such as BitMEX is always a big point of conversation on crypto social media especially since all of the data is showing the extent of users’ losses and gains. Zhao noted that the first Binance liquidation will remind the followers to behave nicely with their capital.
“Don’t bet against bitcoin, and don’t bet [against] b…”
Zhao’s words could pose a warning to inexperienced traders who are considering margin trading but it also could be a suggestions to his followers to long Bitcoin. The last part of his comment refers to his platform’s own currency the Binance Coin (BNB) in order to support that token as well. The pilot involves multiple Binance users and now the officials are opting to open the participation for holders of the in-house token earlier this month via an early access scheme. BNB has gone way up since its launch and it has even delivered an all-time high of slightly under $40.
This week as reported in the latest cryptocurrency news, Binance confirmed that the trading support for the native Binance Chain Stablecoin the USDSB is available. Previously, the trading platform announced the issuance of the BTCB on the Binance Chain which is a token pegged to Bitcoin. Also, Binance launched the decentralized exchange Binance DEX which will also facilitate trading. According to the exchanges’ blog posts we can read that:
‘’The main benefit of offering crypto-pegged tokens is that, obviously, this makes available to Binance DEX traders the many coins that have their own blockchains and aren’t native on Binance Chain. With the increase in the selection of tokens available on Binance DEX, there should be an increase in trading volume and liquidity, This would further increase the utility value of Binance DEX.’’
Coinbase Closes Its Bundle Product After 8 Months On The Market
‘’Coinbase Bundle purchases have been deprecated, as such all assets purchased in the Conibase Bundle have been redistributed to their respective individual asset wallets.’’Coinbase Bundles were meant to provide the investors with a diversified digital asset portfolio which could be dollar-cost averaged by using the same tactic that the investors use in traditional asset classes. Investors could also spend up to $25 to purchase a bundle of five cryptocurrencies which were easily balanced in proportion to their own market cap. For example, Litecoin, Ethereum Classic, Ethereum, and Bitcoin comprised each bundle. In a combination with Coinbase Learn and Asset Pages, the bundles were meant to look good for crypto newbies that are aiming for the dollar cost average into some long positions without having to conduct a huge amount of technical analysis. When it was first introduced in 2018 in September, Coinbase noted:
‘’The vision of an open financial system depends on people’s ability to understand, explore, and choose cryptocurrencies. We expect that millions of people will make their first cryptocurrency purchase in the coming years. But all too often, getting started can be overwhelming for people learning about crypto for the first time.’’Now, after 8 months, Coinbase closes the Bundle project and this decision is bound to draw some criticism but maybe pleasure as well from those who dislike the company. It could be a very smart move to bin the product since the altcoins have been crashing recently as bitcoin corrected and managed to get on the rallying track. As noted in the latest cryptocurrency news, the cancellation of the Coinbase Bundle product could add some credibility to the argument that the diversification does not always work for crypto despite the sector being too volatile or calm.
Global Accounting Firm KPMG Partners With Microsoft To Develop Blockchain
“While we will be able to consume more data more quickly and across more locations than ever before in this next wave of telecom advancement, it is becoming increasingly complex for telecom companies to track and settle interchange fees.”The blockchain being piloted by KMPG, Microsoft and R3 is definitely a hot topic and aims to reduce the future costs, number of disputes and time involved in telecom settlements caused by “billions of mobile interactions flow[ing] through hundreds of connected networks managed by dozens of customers and suppliers.” However, it is not just future costs that the business partnership wants to solve. On the table are also current inefficiencies in the markets such as settlements and reconciliations which are currently handled manually and can take a month to be completed, Ghosh said. Currently, he said, a huge amount of data is generated around mobile devices. However, it goes a long way to know the conditions of a user's contract and their billing information - which must be authenticated by at least two parties if cross-service operations occur. Before the blockchain initiative, the global accounting firm KMPG had advised telecom operators on capital-efficient deployment of 5G networks, cyber security, privacy and data protection - all of which was featured in our coming altcoin news.
Japan Will Create International Crypto Infrastructure Better Than SWIFT
Former CEO Of WEX Crypto Exchange Gets Arrested In Italy
Join us on Facebook
- Big BTC Price Boom Will Bring To Consolidation: Market Experts
- Coinbase Closes Its Bundle Product After 8 Months On The Market
- Bitcoin Retests The $11,000 Range Holding A Strong Low Volume
- Facebook’s Head Of Blockchain Expects Libra To Be Governed By Swiss Law
- Bakkt BTC Futures Reached “Critical Mass” And Expected To Launch Soon
UPCOMING EVENTS RECOMMEND BY DC FORECASTS
Bitcoin News4 days ago
Bridgewater Founder Ray Dalio Makes A Bullish Prediction For BTC
Altcoin News4 days ago
Bear Euphoria Continues As Bitcoin Plummets Below $10,000
Regulation3 days ago
French Authorities Will Approve Crypto Regulations For ICOs & Exchanges
Bitcoin News3 days ago
Bitcoin Bounces Back Near $10k, Analysts Aren’t Convinced Of A Run
Regulation3 days ago
G7 Approves The Japan Crypto-Based SWIFT Alternative
Press Releases4 days ago
Sorry Mr President, cryptocurrency has a bright future
Altcoin News3 days ago
Coinbase Is Rolling Out New Data Tools For ‘First Time’ Crypto Investors
Bitcoin News5 days ago
Bitcoin Newsflash: BTC Crashes Below $10,000 While The Market Plunges