So what happened? And is there any hope for a recovery? To answer both, you have to look at quite a few factors.
That 90-day period ends September 12, so that’s effectively the deadline for Binance to launch its new U.S. exchange if it is to avoid impacting its American user base.
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HAVANA (AP) — Cuba's government said Thursday it will recognize — and regulate — cryptocurrencies for payments on the island.
Though both assets posted a quick recovery, the event has made a significant impact on the market. Bitcoin retraced by 7.4% a few hours after making a new all-time high at $67,000.
Cryptocurrencies are an alternative to traditional money. Today, some outlets accept cryptocurrencies as a form of payment. However, they bear little resemblance to other asset classes because they are intangible and extremely volatile. They are mainly used by traders for speculating on rises and falls in value.
The reason behind such revolutionary growth is originally the team behind this project. Its impressive growth is evident from the fact that in just 1 month of launch, it has reached 45k holders and has already paid out $8 Million in reflection to holders of its native token, $EGC. With such an outstanding track record, the project has also clinched the market cap of $600 Million, which is remarkable.
Traders have flocked to the new currency and it has seen a 910 per cent increase in price since April 16 to April 20.
"Letting you all know that I have resigned as CEO of ??@BinanceUS," Brooks wrote on Twitter. "Despite differences over strategic direction, I wish my former colleagues much success. Exciting new things to come!"
“Expect very high volatility in crypto over the next few months,” he tweeted on Oct. 21.
After all, gold is often touted as the ultimate inflation hedge, yet it’s still subject to wild volatility — more so than many developed countries’ fiat currencies.
Former winners include musician Tamar Braxton and Broadway star Marissa Jaret Winokur
Ether has been trading inside an ascending channel for many days. The bulls are attempting to keep the price above the centerline of the channel. The major target to watch on the upside is the psychological level at $5,000.
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The comparison of Binance vs Binance.US ultimately comes down to financial regulations in the United States.
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Coinye, a semi-defunct cryptocurrency, is worth mentioning solely for its bizarre backstory.
Brian Brooks, chief executive of the US arm of global cryptocurrency exchange Binance, said on Friday he had resigned just three months after taking up the role.