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Bitfinex announces integration of Blockstream Liquid Network

Arijit Sarkar

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Bitfinex announces integration of Blockstream Liquid Network
Credit: Pixabay

While the recent Binance hack shook the confidence of crypto enthusiasts, rival exchange Bitfinex announced the integration of the Liquid Network, a digital asset settlement network. The collaboration has allowed Bitfinex to be linked with global players (cryptocurrency exchanges), resulting in faster digital asset transactions for its traders.

Speaking about this partnership, Paolo Ardoino, CTO of ​Bitfinex, commented that, “issuing Bitcoin, stablecoins, and various other digital assets under one blockchain platform makes a lot of sense.”

He further explained,

“It reduces the integration burden for an exchange like ourselves, and traders can manage all their assets from a single wallet application. We’re excited to be active on the Liquid Network, and we’re looking forward to watching it develop.”

The news quickly caught the attention of many on Twitter. One such Twitter user,@BitcoinisG, showed his appreciation for the development by commenting,



“Nice, premium is also slowly going down👌

Further, Blockstream Co-Founder and CEO, Adam Back also gave his two cents on the news. He tweeted,

“Tighter exchange spreads:​ Traders will be able to rapidly circulate Bitcoin and USDT to benefit from pricing differences; Faster trading; Improved confidentiality: Transactions on Liquid are private by default hiding the amounts and types [to] eliminate risk of front-running”

In the past week, Bitfinex also made public announcements related to the trading of new coins and made major upgrades to their system. The development is good news for an exchange that is at the center of allegations leveled by the New York State’s Attorney General. And while Bitfinex is yet to compete with the world’s largest exchange, Binance is yet to recuperate after a hack cost the exchange 7000 BTCs worth $41 million.





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Binance Coin [BNB] registers ATH as it surges by over 16,000% since inception

Namrata Shukla

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Binance coin [BNB] registers ATH as it surges by over 16,000% since inception
Source: Pixabay

The cryptocurrency market continued to register massive growth, as the prices of most major cryptocurrencies soared. However, the late entrant to the list, Binance Coin [BNB] is posing to be tough competition for other coins in terms of performance. BNB which entered the crypto market in July 2017, breached its all-time high and was trading at $28.79, at press time.

Source: Trading view

Source: Trading view

Binance Coin started out in July 2017 with a value of $0.1927 and marked its all-time high on May 18 at $31.91, according to the Trading View chart of the coin on Binance. BNB noted the growth of a massive 16,458.31% since 2017. However, until the beginning of 2019, BNB was valued at $6.59, after which the coin noted a surge by 384.15% and peaked at $31.



Source: CoinMarketCap

Source: CoinMarketCap

In the month of May, BNB noted a 28.16% growth, and the coin was valued at $28.66, with a market cap of $4.04 billion. The 24-hour trade volume of the coin was reported to be $551 million as it spiked by over 10% in a day. In the past seven days, the coin grew by 35.97%, but slipped by a minimal 0.25% in an hour.

BNB was highly traded on its native exchange, Binance via the BNB/BTC and BNB/USDT pairs. The BNB/BTC trading volume noted on Binance was $140 million, while the volume reported on the BNB/USDT pair was $132 million. The third place was taken by BKEX via the BNB/USDT pair as it registered a trading volume of $72 million.





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