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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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Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Altcoins

Top 3 Coins to Buy Before They Go Big

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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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