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Cryptocurrency ecosystem does not require more than a dozen exchanges, claims Zebpay’s Ajeet Khurana

Biraajmaan Tamuly

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Cryptocurrency ecosystem does not require more than a dozen exchanges, claims Zebpay's Ajeet Khurana
Source: Pixabay

In a recent interview with Cryptoglobe, Ajeet Khurana, the CEO of Zebpay, claimed that the cryptocurrency ecosystem did not require more than a dozen legitimate exchanges.

When Ajeet Khurana was asked about Zebpay’s future plans, he stated that the company might face hurdles such as living and operational conditions in the country itself. He believed that the existence of so many exchanges was undesired and did not make practical sense.

He claimed that in the long-term, the distinction between exchanges was very minimal as the end product bought by the users was absolutely identical.

He added,

“So if you purchase Bitcoin from exchange A versus exchange B, you get the exact same Bitcoin. You can’t say I got a higher quality one or a more genuine one. In light of that, I see in the open market, not more than a dozen, probably as few as five, but not more than a dozen and I am committed to be one of them.”

The CEO of Zebpay also spoke in favor of the decentralized exchange [DEX] and wished that the trend would have arrived sooner. The philosophical ideology of the space resonated with DEX, he said.

Khurana also shed light on Zebpay’s situation in India, revealing that “regulations have, on the whole, been moving in a more friendly direction” in the country.



He hinted that India would not want to be one of those territories in the world which is not moving towards the exploration of virtual currency trading’s potential and economic benefits.

He added,

“As far as India is concerned, the actual order that challenges the central bankers does not impact regulations because there aren’t any now seems like it might close soon. “As far as India is concerned, the actual order that challenges the central bankers does not impact regulations because there aren’t any now seems like it might close soon.”





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Biraajmaan is an engineering graduate who is exploring the ever-changing crypto verse while traversing his passion for cryptocurrency news writing. He is a Chelsea fan and a part-time poet and does not hold any value in cryptocurrencies yet.

Altcoins

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

Namrata Shukla

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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.





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