Tag Archive : exchange

Beowulf Blockchain List its Own Token on Bittrex

Beowulf Blockchain List its Own Token on Bittrex

Beowulf Blockchain has announced the listing of its own coin on Bittrex Global exchange starting on September 24, 2020.

Beowulf, a business-to-business decentralized cloud network for communication services. The company brings transparency and immediately-available solutions for all users and business customers in many fields.

Through the listing, Beowulf will decentralize the ownership of the blockchain. It will also provide a unique opportunity for people and organizations around the world to become supernodes. However, allowing the Blockchain to distribute 100 million BWF coin (worth $1M USD) to the community within two weeks after the listing. 

Moreover, Beowulf will work with the exchanges to establish a supernode network. Users can stake their holdings together to form supernodes. Therefore, earning block rewards (BWF coins) and transaction fees from the company is simple and seamless.

Beowulf Blockchain CEO Dr. William H. Nguyen said,

“With the support of industry-leading partners, Beowulf Blockchain will be able to completely disrupt the enterprise communications industry by providing a better video-quality, more efficient, and lower-cost video conference services to end-users worldwide.”

Recently, Beowulf Blockchain has also partnered with FHL Games, the leading games and digital content distributor in Latin America. The company also forged partnerships with many prestigious educational organizations and corporations worldwide to deploy QUICKOM, TUTORICA, BIPLOMA, and other advanced technology platforms.

Seoul Police Seized South Korean’s Crypto Exchange Bithumb for Second Time

Seoul Metropolitan Police Agency’s Intelligent Crime Investigation Unit raided Bithumb for the second time in connection to the BXA token fraud allegations against its Chairman.

Bithumb is the largest crypto asset exchange in South Korea. It has over 8 million registered users. One million mobile app users and the current overall volume has exceeded $1 trillion.

According to the local Seoul Shinman publication, the Seoul Police entered Bithumb’s headquarters and seized evidence relating to a $25 million fraud investigation linked to the sale of BXA token.

The investors in these tokens faced losses as the exchange did not list them on its platform for trading. In this raid authorities target the offices relating to Bithumb Holdings, the parent company of Bithumb Korea, which operates the crypto exchange platform.

Bithumb’s Chairman Lee Jung-hoon, accused of illicitly moving funds overseas. The first raid happened last week for the same case. 

Despite the investigations, South Korea’s largest exchange keeps holding its position on the market. It has also got global reach and impressive influence in the crypto space.

Bithumb has recently launched its smart token BTCS, along with ETHS, XRPS, LTCS, BCHS, BSVS, and COMPS.

As per tokenmarketcap data, the crypto exchange is still the ninth-largest crypto exchange worldwide. The reported daily trading volume accounts for about $250 million at the time of publishing, down around 16.58 % over the past 24 hours.

Binance Leads its Way While BNB Still Undervalued

Binance Leads its Way While BNB Still Undervalued

Analysis has illustrated that Binance’s native token, Binance Coin (BNB) is undervalued overall while Binance, the largest spot cryptocurrency exchange in the world still leads its way.

BNB initially issued as an ERC-20 token on the Ethereum platform. The initial total supply of BNB was 200 million coins, but due to the continuous coin burn, the supply is gradually decreasing.

Binance has conducted 12 token burns till now. The recent burn, the biggest burn ever recorded and has taken away about $60.5 million worth of BNB.

This burn mentions trading activity across Binance spot, margin, and futures exchanges, various portfolio projects, and ecosystem partners that use BNB.

BNB Burned, % of supply, USD value and Price of 12 BNB Burned

BNB Still Undervalued

As data from Coinmarketcap, BNB is presently the 8th largest cryptocurrency. with a total market capitalization of $3.2 billion. In the mid-February BNB price surged to $26, with gains of around 100% since the beginning of the year. Then the price dropped to around $9.

On September 2, the BNB price spiked to $25 but less than the February price increase. Once again the price started to drop. In the last 24 hours, BNB is at $22.42 with a trading volume of over $622 million. The price has risen by 2.79%.

Price of Binance Coin (1 year)

Binance Stays on Top

In Q1 of 2020, Binance offers 218 tokens and 616 trading pairs. Binance Savings products offered for 30 tokens, whereas Binance Staking supports 23 tokens. The exchange grows the Binance Angels roster to 200+ international angels.

Binance Futures offers 32 perpetual contracts, along with two Binance Quarterly Futures contracts. Binance DEX has 132 trading pairs.

Binance’s CEO, Changpeng Zhao, became the wealthiest Bitcoin Billionaire in 2020 with the estimated net worth of $2.6 billion. In a tweet, it was mentioned that Zhao tops 6 Bitcoin Billionaires in Hurun global rich list 2020.

Moreover, Binance has also gained a wide range of users which is over 2.4 million on their social media pages. It has also continued to build more features, fiat gateways, new supporting languages, etc.

Seoul Police Seized South Korean’s Largest Crypto Exchange Bithumb

Bithumb, the largest cryptocurrency exchange in South Korea. It reportedly raided by Seoul Metropolitan Police Agency’s Intelligent Crime Investigation Unit, for a $25 million token sale on its platform.

As per the report, the raid was connected to the Chairman of the Board at Bithumb Korea and Bithumb Holdings Lee Jung Hoon. Loon accused of fraud and illicitly sending funds overseas.

Bithumb reported conducting the token sale for BXA. The token reportedly promoted as the Bithumb’s native token which involved large range fraud causing the investors with the damage of 30 billion won ($25 million).

Over 300 participants joined in the token sale lost millions.

Bithumb transaction fee costs around 30% of the transaction amount. However, users reached the exchange’s customer support to clarify the high transaction fees.

Bithumb customer support replied stating,

“The Ethereum network is currently congested, which will result in very high fees. You can withdraw by onmi or trc 20”

Screenshot of Bithumb Customer’s Transaction Fees

Moreover, Bithumb is the ninth-largest crypto exchange by average daily trading volume globally. As per Tokenmarketcap, the exchange has a 24h trading volume that stood at over $365 million.

South Korean crypto exchange Coinbit also seized by police last week for making a false transaction to obtain 100 billion won (84 million). While South Korea continues to break crypto laws, there is a chance of more attacks like these could follow.