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Binance Coin (BNB) Spikes Up: The New Update Followed by a 15% Surge

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Binance Coin (BNB) has been one of the best-performing coins in the crypto market of 2019. So much so, in fact, that the coin managed to triple its price in less than three months. However, it does not appear that BNB is going to stop growing anytime soon, as the recent update to the Binance Launchpad brought yet another spike up for the coin.

On Saturday, March 24th, at around 09:00 UTC+01, BNB started its new massive 15% surge. The growth allowed the coin’s price to grow from $15 to $17.37, after breaching several significant resistance levels at $15.20, $16, $16.80.

The coin’s growth was stopped by a resistance at $17.40, and the growth was followed by a minor correction. However, BNB never dropped below $16.80, as the strong former resistance at this level now acts as just as strong support. The price then continued to rise once again, until reaching another resistance at $17.

Meanwhile, BNB coin’s price at the time of writing sits at $16.98, with a growth rate of 11.01% in the last 24 hours. The coin also has a fast-growing market cap which continues to approach $2.5 billion, currently sitting at $2,397,665,771, while its trading volume in the last 24 hours grew beyond $360 million.

The new events mark a 180% growth for Binance coin since the beginning of the year. There were many reasons for the growth, including an increased utility that continues to expand nearly every day.

Binance Launchpad gets a new update

Binance Launchpad is a well-known platform created by Binance crypto exchange — the same exchange that developed BNB, which currently acts as its base coin. The platform was created for launching new cryptocurrencies, and while it was created a long time ago, it was not used in 2018 due to the bear market and lack of trust and interest in the ICO model.

However, come 2019, the exchange decided to bring the Launchpad back, and it has seen massive success ever since. The Launchpad holds one token sale per month, and the plan is to do this every month in 2019. So far, it held three token sales including BitTorrent (BTT) which was launched on January 28th, Fetch.AI (FET) which was launched on February 25th, as well as Celer Network (CELR) which was launched on March 19th.

All three token sales were over in less than 15 minutes, with FET being completely sold out within 15 seconds. This brought a very valuable new use case to BNB, as new tokens can only be purchased in exchange for Binance’s native cryptocurrency. The success of the platform inspired other exchanges to come up with a similar concept, such as Huobi and Okex. Even so, Binance Launchpad remains a leading platform for launching new coins, with the massive excited community currently waiting for the next token sale announcement.

As mentioned, Binance Launchpad recently received a new update, one that brought several changes to the platform. The most notable one is a so-called ‘lottery system,’ which will replace the token serving scheme during token launches. Further, users interested in participating in the token sale will have to hold BNB at least 20 days prior to the new token sale. This will allow them to receive a particular number, not unlike a lottery ticket, which will depend on their BNB balance.

The winner of each ticket will get a $500 slot to buy whatever new token is on sale on the Launchpad. Meanwhile, those willing to participate will have to own at least 100 BNB in their balance. According to the coin’s current price, this will cost them around $1,700. However, it is also important to note that there is no guarantee of a return, or that they will win the opportunity to buy new tokens. All that this will provide users with is a fair chance to participate in the sale.

The community reacted to the new update with mixed feelings. Due to the fact that there are no guarantees that anyone will actually be able to buy new tokens, the risks are significantly greater. Further, small-scale investors are essentially robbed of the chance to participate at all. Many view this as Binance favoring the whales, rather than smaller investors.

The new criticism of the exchange also compares the hype to the one that surrounded the ICO model itself back in 2017. While the approach is undoubtedly innovative, there are those who view it as overly-complex and unnecessary. However, there is no doubt that it had a large impact on BNB demand, and in extent — its price.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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Should Crypto Projects Devote Resources to Community Growth and Marketing?

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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

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