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Indian cryptocurrency exchange Coinome to shut down operations on May 15

Namrata Shukla

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Indian cryptocurrency exchange Coinome to shut down operations on May 15
Source: Pixabay

The Indian Supreme Court adjourned the last hearing of the ‘Crypto Vs. RBI’ case, postponing it to July 2019. While many crypto-enthusiasts were left disappointed, some Indian crypto-exchanges shut shop. After Coindelta quit in the adjournment’s wake, another cryptocurrency exchange is now calling it quits.

Coinome exchange informed its community about the decision, stating that all operations will shut down on May 15. The exchange requested its customers to withdraw their funds. Coinome announced,

“All crypto markets on Coinome will be suspended and any pending/open orders will be canceled, effective 2pm on May 15th, 2019. Customers are requested to withdraw all their crypto assets from Coinome at the earliest.”

Source: Coinome

Source: Coinome

Twitter user, @TheCryptoDost, noted that the exchange had suggested the shut down of operations over a month back, with the exchange now making an official announcement. This raised concerns among other many crypto enthusiasts about other exchanges. Twitter user, @NagPnr, asked,



“Will it be similar situation with other Indian exchanges in near future?”

Another user, @coinguy21, stated that exchanges which have switched to P2P system will not shut as long as they have volume. However, the reason for customers to be perturbed were the rumors about the government of India banning cryptocurrencies on the whole, which also led many exchanges to take drastic steps in fear of being tagged “illegal”.

Prominent crypto influencers in the country have asked people to be patient until the Supreme Court hearing in July and not make rash decisions about their cryptos.





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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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