Cryptocurrency — also known as crypto — is a digital currency designed to work as a medium of exchange. It uses cryptography to secure and verify transactions, as well as to control the creation of new units of a particular digital currency.
While its price swiftly dropped to below $65,000 after hitting the new all-time high Wednesday, Bitcoin’s latest new record is an impressive feat considering just a year ago the currency hovered around $15,000 per coin. Ethereum — the next most popular crypto — has seen a recent surge as well, and on Wednesday notched another new all-time high of its own above $4,800.
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Verdict: Binance is the obvious winner when it comes to liquidity. It has been around for a longer time and has grown into the world's largest cryptocurrency exchange. However, over the course of just a few years, Binance.US has grown into one of the top U.S. crypto exchanges. The future certainly looks bright for Binance.US.
Disclosure: At the time of writing, the author of this feature owned BTC and ETH.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
Crypto exchanges on a growth path shared a few common traits: they're larger, more innovative and offer more digital assets than their competitors.
Cardano price has been stuck in a ditch for most of October as price action ranged between $2.0 and $2.4. Neither bulls nor bears could take control as both defended their support or resistance levels quite adequately. The Relative Strength Index (RSI) has crossed above 50 again, proving buy-volume is picking up, and a breakout trade looks set to break $2.40 and target $2.74.
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Billed as the main rival to Bitcoin, Ethereum’s rise has been nothing short of spectacular. You’ll find all the Ethereum news and guides you’ll ever need right here…
Now that you're familiar with the basics of both Binance and Binance.US, let’s cover some specific topics that you’re interested in.
Brooks did not respond to requests for further comment. A spokesperson for Binance declined to comment.
In return for their services, they take a small cut of each transaction’s value — usually less than 1%.
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Binance.US is an American partner of Binance, the world’s largest cryptocurrency exchange by trading volume, and which was founded in China in 2017. The original platform stopped accepting U.S. users in 2019, and announced it would instead partner with a U.S.-based version of its platform called Binance.US.
If the price turns down from the resistance line of the channel, the pair could drop to the support line. This is an important level to keep an eye on because a break below it will suggest a possible change in the short-term trend.