Weeks after Bitcoin SV [BSV] made the news for its delisting episode, BSV and its founders have made headlines once again.
Craig S Wright, spearhead of the BSV project and self-proclaimed Satoshi Nakamoto, filed for copyright registration with the US Copyright Office to legally identify himself as the author of the original whitepaper. Wright’s action, despite having little legal weight, pumped BSV’s price by over 100 percent in an hour.
This major BSV pump, on the back of an alleged unsound claim, invited the opinions of many prominent members of the crypto-community. Some even dwelt on the ‘artificial’ manipulation of the cryptocurrency’s price. One among those to take note of this pump was Cobra, Co-owner of Bitcoin.org and Bitcointalk.org, who stated that this pump was an aftereffect of the delisting dilemma.
Back in April, Wright and Calvin Ayre had sent out a host of legal notices to several top cryptocurrency influencers, including the likes of Peter McCormack, Roger Ver, and Hodlonaut, following their “defamatory” comments on Wright’s claim of being the creator of Bitcoin. This pushed several exchanges to delist BSV, citing the camp’s “bullying” behavior.
“Delisting BSV from the major exchanges only made it easier for its “leaders” to pump and artificially increase its value on shady exchanges with less real volume and inadvertently made price discovery more difficult.”
Several exchanges such as Binance, Kraken, Shapeshift, Bitforex, and Bittrue had delisted BSV. Post this exodus, Ayre announced the creation of a “Bitcoin SV-based exchange,” titled FloatSV.
The ‘BSV based exchange’ added that it would be partnering with OKEx, the Maltese exchange and one of the few to not delist BSV.
It should be noted that OKEx does not have the best record, when it comes to trading volume. According to a report by The Tie, only 5.94 percent of OKEx’s expected volume corresponded to its reported volume. Binance, in the same report, saw 78.82 percent of its expected volume matching the reported figure.
Given the absence of BSV being subjected to “price discovery,” at the hands of “real” exchanges, as the Bitwise report put it, the recent pump in the coin’s price could be due to its association with ‘native’ exchanges and ones riddled with volume inaccuracies, as attested by the Bitcoin.org co-owner.
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Binance Chain testnet undergoes ‘Galileo’ update via hardfork; mainnet to follow suit
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 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://t.co/0d46tN1qDx pic.twitter.com/FGsMs9WcTe
— Binance DEX (@Binance_DEX) June 26, 2019
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
– 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 😉😊”
“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.”
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