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BinanceCoin (BNB) is Being Transformed from a Company to a Community

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BinanceCoin
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After Binance exchange suffered from a hacker attack that made one of the coins listed on Binance trade at the price that was higher than the actual value of the coin the hackers used for stealth, we were all caught up in the announcement made by Binance: they offered a ton of money for anyone who holds any kind of information about the hacker or hackers that were involved in the attack that made the market crumble. Due to the mentioned attack, some people even started to doubt in Binance and its safety, which was a pretty troublesome case for this exchange platform especially when you add the fact that Binance is now trying to push their own currency: BinanceCoin (BNB). Now, after the heartbleed that stroke this exchange platform and the massive market dip that pushed many coins down below their all-time high, Binance is up and running with some good news for a change. Let’s see how BinanceCoin has been doing during these tough weeks and what kind of plans Binance exchange platform holds for the future.

Binance and Binance Chain

It seems that Binance decided to take a step forward in order to secure a brighter future for BNB and its own exchange platform. That is how Binance announced about two weeks ago that they are planning on creating a new blockchain platform so they would be able to make a new exchange market. On this occasion, people behind Binance stated that they are planning on making a transfer of interest as they are working on turning Binance into a community instead of a company that now represents. That means that the dev team behind Binance is currently working on creating Binance Chain, where this newly developed blockchain system will serve the purpose of transferring and trading digital values.

With the new chain, Binance is also planning on transferring their currency, BinanceCoin, to its own platform. That means that BNB won’t be “solely” an ERC20 type token, as it is at the current moment given the fact that BNB only exists on Ethereum’s blockchain system and it is used as a token, but will instead have its own platform meaning that BNB will be the main currency on the new Binance Chain. This case will allow more authority to BinanceCoin, and potentially draw in more investors while unlocking more opportunities.

At this point, it still remains unclear whether BNB tokens will be swapped for a new set of currency once Binance launches its own chain and BinanceCoin gets its own platform.

Binance, when compared to other exchange markets, might be the most successful market currently active on the crypto scene as it made it to the top while only being launched 6 months ago. During those 6 months of its lifetime, Binance managed to come to the point where this exchange market is able to turn over t6 billion dollars every day in the course of only 24 hours.

That is why there is no doubt that Binance will give its best when creating the new Binance Chain, where it can also be expected for the price of BNB to rise consequently in the following months. Given the fact that Binance is progressing pretty fast, creating its own platform was a natural move to make.

How is Binance doing at the Current Moment?

Although Binance offered 250.000 dollars in BNB for anyone who has any kind of information that might help them catch their attackers, there were no further updates on this matter. Only a day after the announcement where Binance offered a quarter of million dollars for catching the hackers (or a single hacker) who were responsible for the heartbleed, they have announced the release of Binance Chain, which helped them sky-rocket their token for 20% in the course of only a couple of days.

After the mentioned rise in the price, BNB fell down again probably due to the active market crisis when it was worth around 7$ per one unit.

At the current moment after the most recent change in the market, BinanceCoin is dropping while trading in the red just like the majority of cryptocurrencies. After dropping by 2.46% in the last 24 hours, BNB can now be purchased at 10.96$, which is half the price of its all-time high.

Hopefully, for all BNB holders and enthusiasts, the token will easily be able to climb back up and possibly beyond the 20$ value per one unit once the Binance Chain is released and BNB gets its own platform that should at the same time represent a superb decentralized exchange community.

We will be updating our subscribers as soon as we know more. For the latest on BNB, sign up below!

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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collateralized debt position
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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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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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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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Altcoins

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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