Which Coins Will Likely To Be Affected By The Binance Shutdown By The US? 11898

Binance has recently announced that they will no longer allow access of US traders to the exchange, starting September 12, 2019. Although Binance has stated that they will be partnering with Bam Trading to create a US compliant exchange, there is still no time frame on when this will be active – and we can also assume that it will be a minimal function, to begin with for US customers.

In the meantime, we can assume that the volume for the majority of cryptocurrencies that were available to US customers on Binance will now suffer significantly over the next few months as US customers have limited options to trade the cryptocurrencies elsewhere.

The following chart shows which of the coins which are listed on Binance are also listed on other US exchanges. Those include Coinbase, Bittrex, Poloniex, Kraken, HuobiUS, and eToro.

The research is very eye-opening as it shows how the majority of cryptocurrencies will now struggle to find liquidity after the Binance US closure.

bin

Cryptocurrencies such as AE, HOT, LINK, NANO, ONE, VET, and WTC will have nowhere to trade for US customers. These cryptocurrencies should see a significant drop in volume during the upcoming months as they have nowhere for US customers to trade from, as of writing this. Of the above, Harmony (ONE) was the latest IEO on Binance Launchpad.

Binance Coin (BNB), the native token of Binance, will only be available to trade on eToro. In fact, there are quite a few top-flight coins that will be available to trade on just one US compliant exchange, including ARK, BTT, IOTA, PIVX, and ZIL. These cryptocurrencies are lucky to have one exchange but will still see a significant fall in volume coming from US customers after the Binance anticipated shutdown.

Veteran Altcoins At Less Risk
Although the previously mentioned cryptocurrencies may be in trouble, there is still a handful of cryptocurrencies that will be available on a range of US compliant exchanges that will not be affected by the recent Binance closure. These include cryptocurrencies such as XRP, DASH, XLM, ETC, ZRX, and ZEN – which are all on more than 4 US compliant exchanges.

The bottom line is that the recent Binance closure will send ripples throughout the entire cryptocurrency industry. Binance is the worlds largest cryptocurrency exchange with the highest reported volume. However, a large proportion of this volume is coming from US customers. After the US customers have been restricted, we will most certainly see a substantial drop in the amount of volume coming into the market. What is for sure, is that CZ, the CEO of Binance, is already working on a solution for his US customers.

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Sensorium to Reveal Ground Breaking Future at Davos 13651

Speakers from Sensorium Corporation, a company that is redefining social media and virtual reality experiences, are set to share invaluable market insight and future predictions during presentations at the 4th Annual Blockchain Central Davos event, hosted by Global Blockchain Business Council (GBBC) and taking place between January 20 and 24 at Davos Switzerland. The Blockchain Central Davos event brings together leading voices in blockchain technologies to share learning and create unmatched opportunities for innovators and GBBC members, to collaborate with policymakers and business leaders from around the world.

Alexey Blagirev, Digital and Investor Relations Director, Sensorium Corporation will focus on how sweeping digital changes are transforming society in his presentation ‘The Digitization of Everything.’ Nikita Bokarev, Chief Marketing Officer, Sensorium Corporation will reveal the transformational impact new social-based networks are set have during his ‘Blockchain, AR, VR – How New Tech is Transforming the Media Landscape’ presentation.

During his presentation, which takes place on the 22nd at 18.00, Blagirev will explain how Sensorium is redefining digital space by creating 3D virtual world environments in which thousands of people can participate at any one time. “This is an evolutionary and revolutionary step which alters our perception of digital experiences,” he said, adding, “Within the Sensorium Universe iconic events such as music concerts and famous nightclub scenes are broadcast live and in 3D into the digital universe, eliminating physical and geographical barriers in an instant.”

Bokarev will focus on how the evolution of social networks and new technologies such as social virtual reality are creating brave new 3D digital worlds. He said: “Today’s social networks will gradually move to the 3D virtual space because of the communal experience it provides. Friends can come together, and using Social VR tools, collectively participate in a 3D virtual events in real-time and visit new virtual spaces.” Bokarev’s presentation takes place on the 23rd at 19.30.

Both Blagirev and Bokarev are also giving a special virtual reality demo and overview of the Sensorium Galaxy so attendees can gain a first-hand view of the unique experiences provided. This demo takes place on the 23rd at 20.30. Following the special virtual reality demo there will be a concert performance by Matt Sorum, former drummer with the iconic Guns N’ Roses.

About Sensorium Galaxy
Sensorium is the world’s first global social VR media platform created in collaboration with acclaimed artists, visionaries and entertainment entities. Sensorium provides the one-stop destination for multi-user immersion into entertainment experiences and self-discovery through its experiential worlds.Sensorium provides the one-stop destination for multi-user immersion into entertainment experiences and self-discovery through its experiential worlds.Sensorium Galaxy begins its expansion with the Music Planet, first virtual worlds of which are implemented in collaborations with some of the leading representatives of international music scene.

About Sensorium Corporation
Sensorium Corporation is a technology company that creates digital simulations of real-world venues and virtual worlds in cooperation with its content partners – globally recognized concert venues, clubs and festivals. For more information, visit sensoriumxr.com.

About Global Blockchain Business Council (GBBC)
The Global Blockchain Business Council (GBBC) is the leading industry association for the blockchain technology ecosystem. Conceived on Sir Richard Branson’s Necker Island, the GBBC is a Swiss-based non-profit launched in 2017 in Davos, Switzerland. The organization brings together innovators and thought-leaders from over 50 countries to further adoption of blockchain technology by engaging and educating regulators, business leaders, and lawmakers on how to harness this groundbreaking technology to create more secure, equitable, and functional societies.

2020 is the Year SMBs Invade ERP, According to ERP Advisors Group Annual Report 13834

If there was a theme for 2019, it was the year cloud-based ERP finally arrived. No longer a novelty, cloud ERP is the new normal, the “big deal” — the baseline paradigm.

But if 2019 was big, 2020 will be small … and medium. For the ERP Advisors Group Annual Report on the State of ERP, Shawn Windle sat down for a video interview to reflect on ERP trends from the past year and discuss why 2020 is the year the SMBs invade ERP.

“With robotic process automation, artificial intelligence and blockchain technology, all of these factors are converging to make investing in technology make a ton of sense,” said Windle. “In 2020, you’re going to have a ton of great options for software. It’s going to be the year where, if you’ve been on the fence, waiting to see if the cloud is for real — it’s for real.”

Windle noted that advances in ERP systems are allowing vendors to be more agile with industry-specific solutions. “Large vendors that focus on bigger companies like Workday or Oracle are moving downmarket,” he said. “And the companies that have traditionally focused on smaller businesses are going upmarket. Your options for software are going to be awesome in 2020.”

“There are several organizations that build apps on top of their platform so that, almost overnight, they can come in with an industry-specific solution for a micro-vertical,” said Windle.

Here are the three biggest ERP trends for 2020:

1. Companies and organizations of all kinds are investing in software. And that includes everyone from gigantic government agencies to emerging startups.

2. Industry-specific solutions are dominating their respective fields. The deployment cost of bringing new applications to market is lower than ever, meeting the needs of the most demanding micro-verticals.

3. ERP implementation partners are coming of age. They are meeting the challenge of understanding your business, the product, the technology, the configuration, and the customization you need.

The biggest prediction for ERP in 2020:

2020 will be the year of SMBs — the year that ERP for small and midsize businesses will finally become a cost-effective reality. For SMBs with an annual revenue between $50 million and $500 million, the number of ERP software options available in 2020 will be astounding.

ERP Advisors Group has helped over a thousand organizations become successful with their enterprise software initiatives. Because they remain technology-independent at all costs, ERP Advisors Group is becoming known as the world’s most trusted enterprise software advisory firm.

Mogo Lowers Interest Rate and Extends Credit Facility 14197

Mogo Inc. (TSX:MOGO) (NASDAQ:MOGO) (“Mogo” or the “Company”), one of Canada’s leading financial technology companies, today announced amendments to its existing senior credit facility (“Credit Facility – Other”) with funds managed by affiliates of Fortress Investment Group LLC (“Fortress”). The amendments lower the effective interest rate from a maximum of LIBOR plus 12.5%, with a LIBOR floor of 2% to LIBOR plus 9%, with a LIBOR floor of 1.5%, effective July 2, 2020. In addition, the amendment increases the available loan capital from $50 million to $60 million and extends the maturity date of the facility by two years from July 2, 2020 to July 2, 2022.

The full terms of the amended and restated Credit Facility – Other will be filed on www.sedar.com.

About Mogo

Mogo — a financial technology company — offers a finance app that empowers consumers with simple solutions to help them get in control of their financial health. Financial health continues to be the #1 source of stress across all demographics and highest among millennials. At Mogo, users can sign up for a free account in only three minutes and begin to learn the 4 habits of financial health and get convenient access to products that can help them achieve their financial goals. The Mogo platform has been purpose-built to deliver a best-in-class digital experience, with best-in-class products all through one account. With more than 925,000 members and a marketing partnership with Canada’s largest news media company, Mogo continues to execute on its vision of becoming the go-to financial app for the next generation of Canadians. To learn more, please visit mogo.ca or download the mobile app (iOS or Android).

Switzerland Government Publishes Report on Central Bank Digital Currency 16568

Universally accessible central bank digital currency would bring no additional benefits for Switzerland at present. Instead, it would give rise to new risks, especially with regard to financial stability. During its meeting on 13 December 2019, and in response to a request from the National Council, the Federal Council approved a report examining the opportunities and risks of introducing a cryptofranc (e-franc). The Federal Council and the Swiss National Bank will continue to monitor developments in this area closely.

The Wermuth postulate (18.3159), which was adopted by the National Council, had requested the Federal Council to examine the opportunities and risks of introducing a cryptofranc (e‑franc). The Federal Council had recommended that the postulate be adopted, as it has observed the growing interest in cryptocurrencies, digital payment systems and digital central bank currency. In a report published today, it has addressed the main questions relating to central bank digital currency.

The term central bank digital currency denotes money that a central bank could create in digital form and make available to the general public. It would be complementary to existing forms of central bank money, i.e. banknotes and sight deposits held by commercial banks at the central bank. The exact design of central bank digital currency would depend on its intended use. The report examines the various options.

Other countries are also discussing central bank digital currency. Most central banks are examining the topic and the possible repercussions. However, only a few, such as China and Sweden, are planning to issue digital currencies in the short to medium term.

Various different reasons for and expectations about the introduction of widely available central bank digital currency have been voiced by the public and specialists alike. Proponents hope that it will bring better access to payment and financial services for the general public, as well as respond to a need for digital money that is free of default risk. Some economists expect that central bank digital currency will make payments more efficient, monetary policy more effective and the financial system as a whole more stable. Its proponents also think that central bank digital currency could help reduce tax offences and money laundering.

Additional benefits currently low and outweighed by risks

The analysis conducted for this report shows that central bank digital currency cannot meet these expectations, or only partly, that the repercussions can be far-reaching depending on the design, and that there are better solutions for most of the areas considered. The Federal Council therefore believes that universally accessible central bank digital currency would not bring any additional benefits at the moment. The Swiss National Bank (SNB) shares this view and sees the newly arising risks to monetary policy and financial stability, in particular, as a major challenge.

As things currently stand, the further development of central bank digital currency that is restricted to financial market players would appear to be a more promising strategy. This would not have the same far-reaching and fundamental implications as universally accessible central bank digital currency. A “wholesale token” issued by the SNB could possibly help to enhance efficiency in the trading, settlement and management of securities.

The Federal Council and the SNB will continue to monitor developments in this area closely. Rapid technological developments, changing payment needs and the experience of other countries may lead to a reassessment of the opportunities and risks of central bank digital currency for the general public in the future.

Real Name Virtual Bank Accounts Required for South Korean Cryptocurrency Exchanges 21538

In the recent past, on November 21st, 2019, the South Korean parliament approved legal amendments to meet international regulatory standards. The Value Network Domain Name System (VDNS) is especially developed by Bithumb as an identity authentication system is an effort to comply with global requirements.

In a bid to ensure that cryptocurrency virtual assets-handling companies in South Korea are in compliance with the recommendations of the International Anti-Money Laundering Organization, Financial Action Task Force (FATF), amendments to the Act on Reporting and Use of Specific Financial Information have been revised by the Amendment Subcommittee on Parliamentary Affairs from the National Assembly, the legislative body of South Korea.

The amendment comes with the new Special Financial Transaction Information Act, which is backed by the Korean Blockchain Association. This officially brings the cryptocurrency sector under the purview of the local mainstream economy. More importantly, real name virtual bank accounts are now a mandatory requirement. The exchanges and its representatives are also now under the purview of the Financial Commission’s Financial Information Analysis Institute (FIU) and report directly to them.  According to the approved revisions, noncompliance could result in a 5-year jail term including a fine of up to 50 million Won ($42,000 US Dollars).

The Current Situation

South Korea’s cryptocurrency industry faces stifling restrictions, more notably, after January 2018, when the Financial Services Commission cracked down against anonymous virtual accounts, tagging large transaction volumes as potential money laundering targets, leaving only a handful of cryptocurrency exchanges permission to have commercial bank accounts and continue operations, Bithumb being one. With South Korea accounting for nearly 20% of the world’s cryptocurrency transactions, this niche industry was severely affected when banks put an end to the practice of the limitless operation of only virtual accounts for its cryptocurrency-using customers.

Enter Bithumb Chain and the Value Network Domain Name System

Bearing in mind the need to simplify on-ramping onto the cryptocurrency world for new businesses and the general public alike, Bithumb Chain’s Value Network Domain Name System (VDNS) was built to serve as an identity authentication system. With Bithumb Chain’s VDNS system, every on-chain address is entitled to one top-level domain with a domain name of up to 32 characters. The VDNS system offers users to issue non-public proofs on the blockchain, and a way to authenticate such proofs against the issuer’s domain name linked to their addresses, thereby meeting the demand for transactional privacy as per FATF requirements as well. 

About Bithumb Chain

Bithumb Chain is designed to be a multifaceted solution targeted to solve various on-ramping issues in the cryptocurrency world serving as a bridge between various off-chain and on-chain services, products, and infrastructure. Bithumb Global is presently one of the leading cryptocurrency exchanges of South Korea and the world.

For more information on Bithumb Chain and Bithumb Global, please visit www.bithumb.pro

Top 5 Altcoins: ATOM, TRX, ADA, EOS and XMR 19039

ATOM/USD

Cosmos (ATOM) has seen huge gains in the past seven days with a 19% rally. During the week, the community approved the Cosmos hub 3 upgrade, which is likely to take place on Dec. 11. Can the altcoin continue its rally in the next few days or will it face profit booking? Let’s analyze its chart.

ATOM/USD weekly chart. Source: Tradingview

ATOM/USD weekly chart. Source: Tradingview

The ATOM/USD pair is stuck in a $4.4389 to $1.9101 range. The bulls failed to propel the price above the range a couple of weeks back. However, the subsequent dip below $3 was purchased aggressively that has propelled the price back towards the resistance. This is a positive sign as it shows strong demand at lower levels.

We anticipate the buyers to make one more attempt to push the price above the overhead resistance. If successful, the pair might pick up momentum and rally to $7, which is likely to act as a stiff resistance. Therefore, traders can buy on a close (UTC time) above $4.4389 with a stop loss of $2.60.

However, if the bulls fail to push the price above $4.4389, the price might extend its stay inside the range for a few more weeks. The first support on the downside is $2.6218 and below it $1.9101.

TRX/USD

Cryptocurrency exchange Poloniex acquired TRX Market, the largest non-custodial exchange on the Tron (TRX) network, for an undisclosed amount. Following the buyout, Poloniex has renamed TRX Market as “Poloni DEX” and has changed the website to poloniex.org.

TRX/USDT weekly chart. Source: Tradingview

TRX/USDT weekly chart. Source: Tradingview

The TRX/USD pair is stuck in a large range between $0.041 on the upside and $0.011240 on the downside. Currently, the price is attempting to bounce off the minor support close to $0.013 levels.

A strong rebound can carry the price to $0.02340, which is likely to attract sellers. If the price turns down from the overhead resistance, the pair will consolidate between $0.013 and $0.02340, whereas, a breakout of $0.02340 can propel the price to $0.0410

Conversely, if the price turns down from the current levels and plummets below $0.013, a retest of $0.011240 will be on the cards. The 20-week EMA is sloping down gradually and the RSI is still in the negative territory, which suggests that bears are in command. We do not find any reliable buy setups, hence, we remain neutral on the pair.

ADA/USD

The Cardano (ADA) Foundation and fintech platform Coti, have developed AdaPay, an ADA payment gateway for merchants, which offers “near-instant” settlement in 35 fiat currencies directly in their bank accounts. Will this move boost prices in the coming weeks? Let’s study its chart.

ADA/USDT weekly chart. Source: Tradingview

ADA/USDT weekly chart. Source: Tradingview

The bulls have been attempting to defend the support at $0.035778 for the past two weeks. However, with the 20-week EMA sloping down and the RSI in the negative territory, the advantage is with the bears.

If the rebound fails to scale above the 20-week EMA, the bears will attempt to sink the price below $0.035778. If successful, a retest of $0.028271 will be on the cards. Below this level, the downtrend will resume.

The first sign of strength will be a move above the 20-week EMA. Such a move will indicate accumulation by the bulls at lower levels. The ADA/USD pair will pick up momentum on a break above the $0.0560221 to $0.065229 resistance zone.

EOS/USD

Six of EOS’s total pool of Block Producers are being managed by a single entity, according to EOS Block Producer EOS New York.

This again raked up the issue of centralization in the EOS community. However, the altcoin shrugged aside the news and managed to rally about 8% in the past seven days. Can it extend its rally?

EOS/USD weekly chart. Source: Tradingview

EOS/USD weekly chart. Source: Tradingview

The EOS/USD pair is bouncing off the critical support at $2.4001. This is a positive sign as it shows that buyers are keen to accumulate at lower levels. The price can now move up to the downtrend line.

We anticipate stiff resistance at the downtrend line because three previous relief rallies had been rejected there. If the price again reverses direction from the downtrend line, the bears will attempt to sink it below $2.4001. If successful, a retest of $1.55 is likely.

Alternatively, if the bulls can propel the price above the downtrend line, a move to $4.8719 is can occur. The pair will pick up momentum on a break above this level.

XMR/USD

A few crypto exchanges are delisting privacy-centric coins to appease regulators. Cryptocurrency exchange BitBay, for example, will delist Monero (XMR) on Feb. 19 next year.

Security firm Eset has reported that cybercriminals have been using YouTube channels to distribute a Monero cryptocurrency mining module. However, after Eset informed YouTube, the channels were removed. Business technology publication ZDNet has reported that hackers have launched a new cryptojacking campaign to target vulnerable Docker instances to deploy crypto-malware to mine Monero.

Even though the news flow has not been supportive, the altcoin has turned out to be the fifth-best performer of the past seven days. Do the technicals project a further rally? Let’s find out.

XMR/USDT weekly chart. Source: Tradingview

XMR/USDT weekly chart. Source: Tradingview

The XMR/USD pair has been trading inside a descending channel for the past few months. A breakout of the channel and the moving averages will be the first sign that the downtrend might be over.

If the price closes (UTC time) above the moving averages, we anticipate a move to $121.427. Therefore, traders can initiate long positions on a close (UTC time) above the moving averages with a stop below $38.

However, if the price fails to sustain above the channel, the bears will attempt to sink the pair below the critical support at $38.83. This is an important level to watch out for because if it cracks, the downtrend will resume.

The market data is provided by the HitBTC exchange.