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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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Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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