Connect with us

Blogs

Loopring (LRC) Listed on Bithumb, Up 5% In Bear Market

Published

on

Loopring

The crypto markets are generally in the red, but Loopring (LRC) has overcome the generally downward direction to be trading at $0.70 and up 4.98% in 24 hours. The reason for this good performance amidst the general decline in the crypto markets is the announcement that LRC is now available for trading on the popular South Korean exchange, Bithumb.

The announcement was made by the founder of the Loopring Foundation, Daniel Wong.

In the medium post, Mr. Wong had this to say about the listing:

“Loopring’s protocol token on Ethereum, LRC, was just listed by Bithumb, the 6th largest crypto-exchange world-wide. Thank you, Bithumb.”

Bithumb is one of South Korea’s most popular exchange and this is evident it its daily trade volume. At the end of 2017, the site had a daily turnover of approximately $1.3 Billion. That level has since declined in tune with the general decline in the markets, and currently has a daily trade volume of $789.5 Million at the moment of writing this. Bithumb is currently ranked 6th on coinmarketcap.com and according to exchanges that charge trading fees.

The other South Korean exchange that is currently doing more in terms of daily trade volume, is Upbit which is ranked fifth on coinmarketcap.com. The exchange has a daily trade volume of $982 Million.

The listing of LRC on the exchange adds to the much-needed liquidity of the token for trade in the crypto-markets. LRC is now available in 32 exchanges. This is impressive on an individual token level but considerably lower when compared to The King of Crypto, Bitcoin, that is available in 400 exchanges.

Loopring is a token, a protocol as well as a decentralized automated execution system that trades across the crypto-token exchanges, shielding users from counter-party risk and reducing the cost of trading. It does this by pooling the liquidity of cryptocurrencies possessed by users on the platform and breaking orders into smaller pieces that are placed across all market venues simultaneously. It identifies the best exchanges and times to trade hence optimizing trading results.

The protocol is able to do this since it is blockchain agnostic. This means that it can integrate with any other blockchain protocol in the crypto-verse. It is based on the Ethereum ERC20 protocol, making it easier for tokens created on the same ERC20, to be easily traded using Loopring.

The project and token are relatively new in the Crypto-verse. Evidence of this can be seen on the token’s price charts that only date back to August last year. An updated whitepaper is now available on the Loopring website.

For the latest cryptocurrency news, join our Telegram!

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.

Image courtesy of Pexels

Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

Published

on

2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

Continue Reading

Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

Published

on

Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

Continue Reading

Altcoins

My Crypto Heroes Announces Issuance of MCH Governance Token

Published

on

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…

Continue Reading

Press Release