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Encrypgen’s Gene-Chain Will Soon Allow For DNA Token Trading

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Encrypgen

After 2018 ended, the crypto community was hoping for a strong start to the new year.  Unfortunately, that hasn’t happened.  In addition to Bitcoin stagnating, many traders recently suffered another painful loss after Cryptopia was hacked on January 14th.  This latest theft highlights the importance of cold storage.  For those wanting to truly protect their assets, nothing beats a Ledger Nano or a Trezor device.  But, even more than that, it highlights the importance of trading on secure and safe platforms.

Off To The Races In 2019

Although many tokens hadn’t been doing much trading in the new year, one coin was.  That token is Encrypgen (DNA).  DNA started off the year with a price of $0.018, or approximately 500 sats.  Within a few weeks, the price had soared to $0.07, or approximately 2000 sats.  That represented an increase of roughly 300% in sat value.  The increase was due primarily to a flood of news announcements including strong partnership deals.  Additionally, large buyers were rapidly entering the market, including one mysterious buyer who purchased roughly 6 million DNA tokens.

DNA has been one of the hottest tokens to start the new year but that, unfortunately, came to a halt after Cryptopia’s temporary closure due to a multi-million-dollar hack.  Previously, DNA tokens had been listed on Okex and KuCoin.  However, when Encrypgen’s CEO refused to pay bribes, the tokens were delisted.

So, what’s next for Encrypgen?  Fortunately, the business is 100% focused on adding users to the Gene-Chain, both data buyers and sellers.  And, within the next few weeks, users can expect to trade DNA tokens directly on Encrypgen’s Gene-Chain.  Because of this, DNA token buyers won’t have to worry about dealing with unsecured exchanges such as Cryptopia.

ERC-20 Integration

Encrypgen’s main goal is to bring together genomic data sellers and buyers.  Essentially it wants to be the go-to marketplace for genomic data transactions.  While consumers who sell their data have the option to cash out their payments via Bitcoin (BTC), they will soon be able to cash out via other methods such as Ethereum (ETH).  Researchers will also be able to buy the uploaded data with DNA tokens.  This was the original vision that was laid out by Encrypgen’s Founder and CEO, David Koepsell.

Once the Gene-Chain is ERC-20 compatible, DNA token trading will be available on the platform.  Given how hot DNA tokens were this month, it’s not unreasonable to think that trading volume could explode on the Gene-Chain.  It’s natural that traders may want to get their hands on these tokens that are very likely to increase in value during the upcoming months and years.  Still, it’s important to remember that DNA is a utility token.  It was created for buying genomic data on the Gene-Chain.

Other Trading Options

For users who may want to get started trading DNA tokens before the functionality is made available on the Gene-Chain, there are other options.  These options include:

  • IDEX – A Decentralized exchange for trading Ethereum (ERC-20 tokens).
  • EasyTrade – Trading widget that provides the best available orders from its pool of decentralized exchanges.
  • Bleutrade – New option for DNA trading but very little volume at the moment.

Although Cryptopia let a lot of people down, Encrypgen’s business isn’t affected in the least.  The company continues with business as usual.  Encrypgen is one of the most promising companies in the crypto world and I’m looking forward to seeing all the future developments.

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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

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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Altcoins

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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Altcoins

BITTREX GLOBAL CONFIRMS FREE TRADING AND LISTING FOR TOP DEFI TOKEN

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Valduz, Liechtenstein, 17th November, 2020, // ChainWire //

International cryptocurrency exchange promotes free trading and no gas fees for leading DeFi tokens

17th November 2020 — Bittrex Global GmbH. announced today 8 new DeFi tokens will be listed this week including:

  • UMA (UMA)
  • Aave (AAVE)
  • Balancer (BAL)
  • REN (REN & renBTC)
  • Kyber Network (KNC)
  • Band Protocol (BAND)
  • YF Link – (YFL)

Bittrex Global’s users can trade all of their DeFi  tokens with no trading or gas fees until 2021. The decision to enable free trading on Bittrex Global for DeFi tokens  follows on from the 1,000% growth of the DeFi asset class over the course of 2020.

The decision to enable free transactions will see more investors enter the Blockchain Act’s digital asset regulatory system, supervised by the Financial Market Authority in Liechtenstein (FMA) under the Due Diligence Act which requires traders to comply with the KYC/AML/CFT standards.

“The last year has seen huge growth in DeFi as an asset class and a number of significant milestones completed,” said Bittrex Global’s CEO Tom Albright. “As the asset class matures and more institutional and professional investors look at the fundamentals, we are likely to see increased demand and higher trading volumes for DeFi in 2021.

We’re really excited about what we’re seeing in the space and want to see these DeFi projects grow and help them build stronger platforms through increased adoption. Offering free trading fees…

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