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Binance Pay arrives on Shopify

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Thanks to the partnership with Alchemy Pay, Binance will bring the Binance Pay service to Shopify. This means that it will be possible to use bitcoin on the popular payment network.

Alchemy Pay is a fiat-crypto hybrid payment provider. The purpose of this agreement is to build a bridge for crypto payments through the Binance Pay wallet .

Binance Pay is Binance’s service that allows cryptocurrency payments through the Binance app. Spread all over the world, it allows you to take advantage of cryptocurrency payments without special fees.

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Instead, among the networks that support Alchemy Pay there are:

  • Shopify ,
  • QFPay,
  • Pricerite,
  • There it is,
  • Aldo,
  • Arcadier SaaS,

These brands are also joined by the Midwest Global Asia taxi service which also includes a network of 2,500 limousine drivers.

In short, there are all the conditions for an agreement that can prove to be interesting for the spread of cryptocurrencies.

Alchemy Pay CEO John Tan commented:

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 “Alchemy Pay was founded in 2018 by a team of fiat payment gateway veterans with a shared vision to build a practical bridge between fiat and crypto. When we started, the total value of the cryptocurrency market was less than a tenth of what it is today. Electronic payments outside the $ 80 trillion fiat economy were virtually unknown to the world. Alchemy Pay’s partnership with Binance for the Binance Pay wallet significantly expands the practical applications we build between the cryptocurrency and fiat worlds. “

Binance Pay and Shopify

Binance Pay is a new service from Binance, launched in beta a few months ago. Its purpose is to allow you to receive and accept payments in cryptocurrencies , in a contactless way, thanks to Binance. The function is especially dedicated to merchants.

For Shopify, on the other hand, the integration with Binance Pay would not be the first in the cryptocurrency field. The partnership with Coinpayments had already inaugurated cryptocurrency payment systems also on the famous platform.

Being Binance one of the most popular exchanges in the world, this collaboration could be a contribution in the direction of spreading even more the use of crypto as a payment method.

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Binance Announces Initial Game Offering for Horses and Attacks “CryptoGames” Market

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Binance has just announced the launch of a new addition to the gaming and blockchain ecosystem.

According to a message sent to Cointimes, the world’s largest brokerage firm wants to “build the ultimate launch pad for NFT games and gamers.” To do this, it will take advantage of the Binance NFTs infrastructure to launch an Initial Game Offering (IGO).

Through IGO distributions, Binance NFT connects the global crypto community to high quality blockchain games and high quality in-game NFT assets. Binance NFT is a dedicated hub where promising game projects can develop and build communities. Our aim is to help strengthen the gaming industry and develop this sector to become more popular. ” – said Helen Hai, global leader of Binance NFT

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IGOs may contain in-game assets such as early access passes, weapons and items, exclusive Binance skins, other cosmetics, and much more.

Binance NFT Announces First IGO

And the first IGO has already been announced, it’s DeRace with a release date of October 26th.

The NFT item game is a horse racing ecosystem, “where players can participate in horse races, create their NFT with unique characteristics, host races on their own NFT racecourse and earn profits in the process.”

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DeRace Binance IGO of Horses
DeRace bets on virtual horse breed

To participate in the purchase of DeRace NFTs you only need to have a Binance account and login to the Binance NFT platform.

The game market using blockchain has grown rapidly. In Brazil, the search for this type of game surpassed even the search for more traditional assets such as Bitcoin and Ethereum.

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Legendary Trader Peter Brandt Challenges Binance with Four Questions about 88% BTC Crash

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Here’s what is unclear for Mr. Brandt about mysterious Bitcoin (BTC) flash-crash of Oct. 21, 2021

Prominent trader and analyst Peter Brandt has taken to Twitter to ask his four questions in the context of the flagship crypto’s 88% dropdown.

What do Binance and Binance.US have in common?

First of all, Mr. Brandt challenged the character of corporate relationships between Binance and Binance.US, its unit focused on American markets.

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Also, Mr. Brandt asks whether Binance is planning to release detailed documents to specify statistics for trades, their volume and prices during the flash-crash.

Then, the trading legend asked about the role of the platform in taking the opposite side of a client fills.

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Besides the Binance CEO and co-founder Changpeng “CZ” Zhao, Mr. Brandt mentioned the Interactive Brokers platform, U.S. watchdogs CFTC and SEC and Gary Gensler, the SEC chairman.

Most expensive “trading algorithm bug” ever?

Also, Mr. Brandt attached a screenshot of a tweet by CZ when Binance’s boss warned his audience about expected volatility spikes across cryptocurrency markets.

Finally, Mr. Brandt added that he never used Binance for trading.

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As covered by U.Today previously, on Oct. 21, 2021, amidst a spending rally, the Bitcoin (BTC) price briefly tanked to the $8,000 level, losing more than 88% in no time.

A similar flash-crash was registered on 26 other low-liquidity exchanges. A Binance.US representative attributed this dramatic plunge to a critical bug in third-party mechanisms by one of the platform’s sophisticated institutional clients.

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Binance Bitcoin Balances Are Draining: 40,000 BTC Moved Away from Biggest Crypto Exchange

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According to CryptoQuant data, Binance cryptocurrency exchange once again faced a massive fund outflow totaling 38,246 BTC. After a significant drop in the Bitcoin balance, the total balance on the sheets is close to 500,000.

In-house redistribution of funds

Previously, Binance.US faced a major bug that led to so-called “slippage”—the difference between the expected price of a trade and the actual execution of an order.

Whenever the order book on the market is too thin and an exchange cannot provide enough liquidity, volatility on the asset tends to rise exponentially, which leads to a massive drop in value.

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CryptoQuant data
Source: CryptoQuant

Due to the bug that appeared, the price of Bitcoin on Binance.US has dropped to $8,000, with numerous buy orders being executed on the way down. In order to provide more liquidity to the market on Binance.US, the main platform could have moved some of its funds to the U.S.-targeted platform, which is being counted by on-chain metrics as “outflows.”

Natural outflows

With Bitcoin moving past the previous ATH and trading volumes remaining stable, some traders and investors are choosing to move their funds away from exchanges and keep them in their wallets.

TradingView Bitcoin Chart
Source: TradingView

According to volume metrics, no significant selling pressure has been present on centralized exchanges, along with no abnormal trading activities.

Previously, notable exchange inflows appeared back in May, when Bitcoin’s price retraced from the previous ATH to $29,000. Most retail investors have moved funds from their wallets to the exchanges to take profit.

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