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

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BNB

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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My Crypto Heroes Announces Issuance of MCH Governance Token

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Tokyo, Japan, 24th November, 2020, // ChainWire //

My Crypto Heroes is happy to announce the issuance of MCH Coin as an incentive to players in the My Crypto Heroes ecosystem, aiming to allow them to craft a “User-oriented world”. The MCH coin is available on Uniswap with a newly created pool with ETH. 

My Crypto Heroes is a blockchain-based game for PC and Mobile. It allows users to collect historic heroes and raise them for battle in a Crypto World. Officially released on November 30th, 2018, MCH has recorded the most transactions and daily active users than any other blockchain game in the world.

What is MCH Coin?

MCH Coin is being issued as an ERC-20 Standard Governance Token. The issuance began on November 9th, 2020, with 50 million tokens issued.

Of the funds issued, 40% are allocated to a pay for on-going development and as rewards for advisors and early investors. 10% are allocated to marketing and the growth of the ecosystem, and 50% are allocated to the community. The Distribution Ratio of the MCH Coin is subject to change via a governance decision.

The MCH coin will be used as a voting right as part of the ecosystem’s governance, with 1 coin being 1 vote. It will also be used for in-game utilities and payments. Additional information can be found here:

https://medium.com/mycryptoheroes/new-ecosystem-with-mchcoin-en-a6a82494894f

During December 2020 the first governance…

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Rewards Platform StormX Offers 50% Crypto Cashback Bonus for Thanksgiving

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Singapore, Singapore, 23rd November, 2020, // ChainWire //

Blockchain-based rewards platform StormX has released a seasonal promotion for its award-winning Crypto Cash Back App. The promotion will allow app users to earn a 50% bonus on top of their cashback between Thanksgiving Day and Cyber Monday (November 26-30).

StormX has also introduced a brand-new staking service, allowing users to earn an additional 50% per year when they stake STMX tokens. The native ERC20 token of the StormX ecosystem, STMX has a total supply of 10 billion and is available to trade at many of the world’s top exchanges, including Binance and Bittrex.

“With Bitcoin’s price approaching its all-time high, interest in cryptocurrencies has renewed, though some people believe it’s now too expensive to buy in,” said StormX CEO and Co-Founder Simon Yu. “What we have done is create an easy way for such individuals to accumulate bitcoin, ethereum and other cryptocurrencies via everyday shopping.

“We’re also excited to provide users with the ability to earn greater rewards simply by staking their tokens.”

Since the StormX mobile app launched its Shop feature with over 700 stores in February 2020, some 400,000 unique users have been added to the rewards platform. StormX has also witnessed over 50% month-on-month growth for sales. The app is available for download on the App and Google Play Stores, and can be downloaded as a browser add-on from the Chrome Web…

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3 Reasons Why Liquidity Dividends Protocol (LID) Will Be a Huge Winner

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Liquidity Dividends Protocol

Since 2017, cryptocurrency has experienced both the crazy highs and the crazy lows with fortunes being made and lost overnight.  That volatility is one of the main reasons why cryptocurrency has been relatively slow to gain mass adoption.  In addition to volatility, another concern for many is the lack of security and regulation in the market.  This can be seen through the countless exchange hacks and rug pulls that seem to occur on a weekly basis.  In order for cryptocurrency to move into the next stage of maturity and bring on mass adoption, investors and users will need to feel secure knowing that their funds are safe.  One promising organization that may have the perfect solution is Liquidity Dividends Protocol (LID).

What is Liquidity Dividends Protocol?

Liquidity Dividends Protocol is an up and coming organization that provides locked liquidity services to cryptocurrency projects that launch their offerings through ERC-20 tokens.  It lets non-custodial pre-sales lock liquidity of a token in a trustless manner through Uniswap.  This locking process will prevent every investor’s worst nightmare of seeing their hard-earned money disappear through “rug pull” scams that are designed to remove liquidity out of DeFi projects.

This year has seen an explosion of interest in Uniswap and DeFi projects.  Many investors have generated enormous returns on investments, but many have experienced the pain of being duped.  Below are three reasons why LID Protocol is poised to be a massive winner in…

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