The exchange is cutting off Chinese users and will lose a third of revenues from next year, co-founder tells FT News
At IG, our markets for bitcoin, bitcoin cash, ether and litecoin are quoted against the US dollar. This is how you’ll usually see these cryptocurrencies quoted elsewhere, too.
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Binance may not offer as many cryptocurrencies as decentralized exchanges such as Uniswap, but when it comes to centralized exchanges, Binance is the leader. With more than 500 cryptocurrencies and over 1,200 trading pairs available for its customers, crypto traders who prioritize having access to the most possible coins should strongly consider Binance.
Other tokens, known as utility tokens, are only meant to be used within the context of a particular network, so they can’t even technically be classified as tradable assets in the same manner of security tokens.
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According to Stephen Innes, the head of Asian trading for the foreign exchange Oanda, hacks were the first element to have a chilling effect on crypto. Hearing the amount of money that thieves were able to take, he says, “Consumers got very concerned that their money could go missing.”
The decision by Tesla, and announced by Musk, was seen by some as a slight on the credibility of cryptos to become a viable method of payment against physical currencies.
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This positive view will invalidate if the price turns down from the current level or the overhead resistance and plummets below the support line of the wedge.
To investors hunting for the next Dogecoin, the more than 19,000 per cent price gain that cryptocurrency SafeMoon posted in its early weeks was like catnip. Though the price of the four-month-old token has dropped since then, more than 2.4 million investors have bought it, according to its developers.
But whatever new products are produced, they will now have a harder time struggling with acceptance. Whether we like it or not, message and image are important.
"The U.S. historically has made very clear regulations, so we hope that will clear up," he said. "At the same time, some early adopters in this space will be better rewarded. There are uncertainties in the regulatory space, but we're willing to try."
Other criticism of the founding team has come on the back of several promised developments of a Safemoon ‘ecosystem’ (including a bespoke wallet application) that have thus far fallen short of expectations.
Issuers of tokens that link crypto and traditional markets should function as banks, watchdogs urge
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