Connect with us

News

Calvin Ayre floats ‘Bitcoin SV based Exchange’ as Binance alternative following delisting

Avatar

Published

on

Calvin Ayre floats “Bitcoin SV based Exchange” as Binance alternative following delisting
Source: Pixabay

After being shown the door by the world’s largest cryptocurrency exchange, Binance, with Shapeshift and quite possibly Kraken following suit, Bitcoin SV [BSV] proponents are looking for an alternative. Many more exchanges are inclined towards offloading BSV, hence Calvin Ayre has looked to a “native exchange” for respite.

FloatSV, an OKEx partnered “Bitcoin SV based exchange” is the touted solution to the delisting dilemma. Launched on April 12, just a day after Changpeng Zhao, the Binance CEO threatened to delist the coin following Craig S Wright’s “Satoshi” claims and legal charge, Jack C. Liu, the founder of RelayX, and advisor to the OK Group, fronted the “BSV based exchange”.

While the collective community was engaged in Ayre and Wright dishing out legal notices to the likes of Holdanaut and Peter McCormack, Float SV established a Twitter presence, stating that they would be launching on April 19. However, their April 12 Medium blog post explicitly pointed the reason for their establishment:

“Float SV will launch in April, although the exact timing will be adjusted forward if any major exchange delists Bitcoin (SV).”

The newly-established exchange, created as a precautionary measure, claims to “deliver a real asset exchange experience” listing blockchains running PoW SHA256 as well as “real assets” such as commodities and currencies. The “Bitcoin SV based exchange” has also stated that it will not list “native tokens of other blockchains nor securities or STOs”.

Interestingly, the partnership aligns with the current Bitcoin SV trading volume. At press time, the highest share in terms of BSV volume was held by OKEx, accounting for 8.89 percent of the total via the trading pair BSV/USDT. Binance also dominated the list, taking the second and fourth spots, however, the largest exchange in the world would cease trading BSV on April 22.



As per data from CoinMarketCap, Binance comes in second to OKEx in terms of Adjusted Trade Volume, in the past 24 hours. OKEx accounts for $1.36 billion, while Binance holds $1.07 billion. However, data from CoinMarketCap has been disputed in the past, following the release of a Bitwise report highlighting fake volumes reported by exchanges.

Calvin Ayre is certainly buoyant about the prospects of FloatSV, stating that given the current circumstances, it is “a good time to open a Bitcoin SV exchange”. His tweet, in full, stated:

“yup….this is a good time to open a Bitcoin SV exchange…just when one of the largest in Asia has kicked all the BSV customers to the curb over petulance. Business in a box :-)”





Subscribe to AMBCrypto’s Newsletter


Altcoins

Binance Chain’s first project Mithril to launch with MITH/USDT trading pair

Namrata Shukla

Published

on

Binance Chain's adds Mithril as its first project followed by MITH/USDT trading pair
Source: Pixabay

Binance launched its blockchain protocol on April 18 and it already has its first project launch on its network. Mithril, a decentralized social media platform will migrate to Binance Chain. The company’s MITH token, that ranks 121st on CoinMarketCap will transfer from ERC20 to Binance’s BEP2 standard.

Binance Chain has been a highly anticipated project in the crypto world since its announcement and with its launch, the community provided ample support to the move. According to reports, Binance is luring companies into migrating to their new native chain and leave Ethereum.

According to Mithril’s blog post, the migration commenced after the mainnet launch of the Binance Chain and informed the MITH holders that the deposit and withdrawals on Binance.com will be halted for the initial 12-hour migration period, however, trading will continue. The post added:



“Once the initial migration of ERC20-based MITH to BEP2 MITH is complete, Binance users will be able to withdraw MITH to BEP2 wallets, such as the Ledger Nano S, and begin trading on Binance DEX. ERC20 versions of MITH held in private ETH wallets or on other exchanges will not be impacted.”

As Mithril announced about its migration to Binance chain, the price of MITH, Mithril’s native coin saw a surge. The coin also saw a 70% hike,  followed by a market correction. At press time, MITH was valued at $0.0782 with a market cap of $40 million. The 24-hour trading volume of the coin was $108 million as it pumped by 67.10% over the past day. In the past seven days, the coin noted a surge of a massive 81.47%, which started to dip by 0.84% over the past hour.

Following the addition of the project, Binance announced the listing of MITH/USDT trading pair, which will start trading on April 19, 10 AM UTC.





Subscribe to AMBCrypto’s Newsletter


Continue Reading

Trending