Binance leads IEO performance as exchange’s Launchpad token sales outpace competing platforms | ELEVENEWS
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Binance leads IEO performance as exchange’s Launchpad token sales outpace competing platforms

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Binance, the largest cryptocurrency exchange in the world, is firmly establishing itself as the top dog in the initial exchange offering [IEO] market. Following the launch of several successful tokens via their launchpad, competing platforms are nowhere in sight.

With BitTorrent [BTT] and the Matic Network [MATIC] shooting for the moon, Binance has strengthened its position as a big player in the IEO space, among competing platforms backed by the likes of OKEx, Huobi Global Kucoin, and Bittrex.

According to data released by Ceteris Paribus, Binance registered a whopping 501 percent return from their token sales. Most of their token sales have been successful, with MATIC, BTT, and Fetch AI [FET] offering 870 percent, 869 percent and 128 percent return, respectively.

Source: Twitter

Similarly, the current Return on Investment [ROI] for the tokens was 13.8x [BTT], 11.0x [MATIC], 3.3x [CELR], and 3.2x [FET].

Binance’s rival Maltese exchange, OKEx, took the second spot, amassing 272 percent returns on their token sales, the most notable of which were from Blockcould [BLOC], recording 399 percent return and Allive [ALV] with 145 percent increase. Their ROI stood at 5.7x and 2.4x, respectively.

Huobi Global took the third spot, despite having the token Top Network [TOP] enjoying 417 percent returns with 3.8x ROI, while Newton [NEW] accounted for 106 percent increase with an ROI of 2.3x.

Source: Twitter

Matic is undoubtedly the hot topic in terms of token sales via IEOs, with many notable crypto-influencers stating that any correction would not thwart Binance’s long term ambitions for the token.

Jonathan Habicht, Founder of BlockFyre, chided the “dump” that pushed the coin’s price down by 41.72 percent and foretold that it would “start pumping again.” He added that Binance will push the token till it enters the “top 50,” thus portraying the prowess of their IEO.

The BlockFyre Founder added,“The $Matic dump was brutal but I have a feeling that it will start pumping again.

Don’t take my word for it but I believe, Binance will not let this thing go until its in the top 50. They want to showcase that their IEOs are successful.
Wouldn’t buy the dip though, too risky.”

At press time, the Matic Network occupied the 87th spot on CoinMarketCap, the crypto-market aggregator. The MATIC token surged by 22.6 percent over the past 24-hours, while the seven-day price gain was in the region of 235.44 percent. Its market capitalization stood at $65.28 million.

Interestingly, apart from BTT, MATIC, CELR, and FET recorded similar performances, when measured against the top cryptocurrency, Bitcoin, as the below charts reveal.

Source: Reddit

Source/ambcrypto

Binance

Binance Chain testnet undergoes ‘Galileo’ update via hardfork; mainnet to follow suit

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Binance Chain’s testnet underwent a hardfork today at block height 24,020,000, at around 2019/06/26 7:00 AM (UTC). The new update will have various bug fixes, improvements to the existing chain, and is expected to improve on-chain performance.

The new announcement details all the features the new update will include for DEX users, or any exchanges that list BNB, or run a client. The BNB blockchain will provide validators access to create a “delist protocol” and vote on delisting trading pairs that have very little volume for a long time via governance.

The Galileo update will also provide a “Time Locking” feature for token assets, while also improving the Match Engine in Binance DEX, which according to the blog is “not optimized in some cases.” The complete list of changes is available for users to read in the changelog

Binance Chain’s testnet underwent a hardfork today at block height 24,020,000, at around 2019/06/26 7:00 AM (UTC). The new update will have various bug fixes, improvements to the existing chain, and is expected to improve on-chain performance.

Binance DEX@Binance_DEX

[email protected] Chain Galileo Upgrade Announcement

The Binance Chain testnet is expected to have a scheduled hard fork upgrade at block height 24,020,000, around 2019/06/26 7:00 AM (UTC). Binance Chain Mainnet will also be undergoing an upgrade at a later date.https://community.binance.org/topic/345/binance-chain-galileo-upgrade-announcement …1651:18 AM – Jun 26, 201956 people are talking about thisTwitter Ads info and privacy

The new announcement details all the features the new update will include for DEX users, or any exchanges that list BNB, or run a client. The BNB blockchain will provide validators access to create a “delist protocol” and vote on delisting trading pairs that have very little volume for a long time via governance.

The Galileo update will also provide a “Time Locking” feature for token assets, while also improving the Match Engine in Binance DEX, which according to the blog is “not optimized in some cases.” The complete list of changes is available for users to read in the changelog.

The testnet changes will be followed by changes on the mainnet. The blog added,

“Binance Chain Mainnet will also be undergoing an upgrade a few weeks later (please stay tuned with the later announcement).”

Additionally, Binance also announced the launch of Binance 2.0 for everyone, which also includes the margin trading feature on Binance. The Binance 2.0 has the website revamped, with the old one being decommissioned soon.

While some users complained that there were problems depositing USDT, others complained that margin trading feature was still not available.

A Twitter user, @rallyqt, commented,

🧩
😉
😊

Galileo upgrade
– Margin
– Binance stable coin
– Binance DEX
Keep building & piecing the Binance ecosystem together! 
@cz_binance, how many users signed up for Binance this year? Alt fomo season starts when exchanges have to temp close due to an influx of users haha ”

CZ replied,

😂

“We have increased our registration capacity in anticipation of this, a year ago. It should work, in theory, let’s see what happens. 
Registrations are definitely picking up speed.”

Source :ambcrypto

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Binance announces margin trading open to everyone as Bitcoin soars

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Binance CEO Changpeng Zhao has announced that margin trading is now available to everyone using Binance. 

In a recent tweet related to the price of Bitcoin touching $13,000, Binance CEO Changpeng ‘CZ’ Zhao announced that Binance have opened margin trading for everyone. This comes after a recent Beta test of the platform for invited members who had applied to test the beta trading platform. 

CZ has announced that Binance 2.0 is live publicly now, and everyone will be able to margin trade on the new platform. CZ also announced that one of the major upgrades was related to performance, stating “During peak times, if you experience lag or other performance issues, be sure to try out 2.0. We will soon decommission the “1.0” version due to legacy performance bottlenecks.”

Binance 2.0 now offers a margin trading tab on the exchange, allowing users to long or short BTC, ETH, BNB, XRP and TRX so far. 

Source.chepicap

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Binance Sees IEOs as Its New Cash Cow, but It Will End as Badly as ICOs [Opinion]

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Binance has just announced a new token sale on its Launchpad. However, it seems that the exchange just copied and pasted the same announcement for a previous IEO, not even bothering to change the links. Binance has since fixed this error, but it points to a deeper problem.

Initial Exchange Offerings (IEOs) are the “new craze.” With ICOs being associated with scams, IEOs have been a successful cash grab for many exchanges. Just like ICOs, somebody will be left standing and holding bags when the music stops.

Binance has just announced a token token sale for Elrond (ERD). However, in its announcement post, the exchange did not even bother to change its links. Instead, the old template for the Harmony IEO was posted again with many of the links directing to Harmony. Binance quickly fixed the error, but it seems like somebody on the backend had a bout of laziness. This may seem minor, but it points how much of IEOs are just copy-and-paste projects which provide no value to the cryptocurrency space. In the end, we will ultimately view IEOs like we today view ICOs: as largely unabashed cash grabs.

There is already a compliant means of selling tokens for crowdfunding. They’re called security token offerings (STOs) which are intended to be legally sound. However, many exchanges have opted to issue IEOs—essentially ICOs with extra steps. There is nothing more ‘secure’ about IEOs other than having an exchange’s name tacked onto it. If anything, it further cements exchanges as being the sole arbitrators in this cryptocurrency market, to our detriment.

Binance’s new IEO demonstrates this in full. The fact that the Elrond IEO announcement is just a copy-and-paste of the previous Harmony IEO should tell us all we need to know: these IEOs are merely copies of each other, functioning as nothing else than flagrant cash grabs.

It’s understandable, of course. Binance wishes to keep the momentum going to make it seem like it’s promoting fresh new projects and “innovations” in the cryptocurrency space. With its IEOs and giveaway promotions, it should be painfully obvious to everyone that it’s merely greater fool’s theory in practice.

Ultimately, IEOs will fall to the wayside like ICOs did. Years from now, it’ll be associated with the embarrassing ICOs craze — as yet another example of how the cryptocurrency space confuses pump-and-dump crowdfunding with actual innovation.

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