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Monero [XMR] trading pairs with Binance Coin [BNB] and Tether [USDT] announced on Binance

Akash Anand

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Monero [XMR] trading pairs with Binance Coin [BNB] and Tether [USDT] announced on platfrom
Source: Pixabay

The Changpeng Zhao led Binance has been on the uptrend, with the company launching several products and locking in on several new partnerships. Taking the requests from several users in the cryptocurrency space, Binance has decided to take another step forward by adding Monero [XMR] trading pairs to its fold. On March 14, the cryptocurrency exchange announced:

“#Binance Adds $XMR / $BNB and $XMR / $USDT Trading Pairs Binance will open trading for XMR/BNB and XMR/USDT trading pairs at 2019/03/15 4:00 AM (UTC).”

The announcement also created a small price hike for Monero, which gave a boost to the fans of the privacy-oriented cryptocurrency. The Binance listing came on the back of Monero’s latest hard fork which had made a huge splash in the world of cryptocurrencies.



The hard fork was aimed to bring some changes to the dynamic block size algorithm in order to fix a spam-bloating attack, a big bang attack, and to make sure scaling in for the short run and long run occurs properly. Monero’s blog post stated:

“Note that there technically will be two hard forks (i.e. one on approximately the 9th of March and one on the approximately the 10th of March). This provides a grace period on the network where transactions in the transaction pool that still use the v1 transaction format are allowed to be included in a block by miners.”

Post the hard fork, Monero also witnessed a massive drop in hash rate, which mainly affected ASIC miners. A report by Paper Blockchain stated that the figure was more than 80%. A Redditor, Bittabet commented:

“My real concern is just that instead of FPGA designers and ASIC farms controlling mining you just have hackers with botnets controlling the entirety of the network every time the algo changes. I’m not convinced that this is safer or more secure.”





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Tether’s [USDT] market capitalization hits all-time high, Facebook in talks with Winklevoss twins, trading firms over new cryptocurrency and more

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Tether’s [USDT] market capitalization hits all-time high, Facebook in talks with Winklevoss twins, trading firms over new cryptocurrency and more

Daily Crypto News – May 25

1) Bitcoin Wallet receives part of 5,000 BTC: A recent Whale Alert highlighted a transaction on May 24, where a large sum of Bitcoin [BTC] exchanged hands between two anonymous wallets. According to the alert the transaction took place at 22:13:23 + 1 minutes and 5,000.00001092 BTC was transferred from an unknown wallet, with address 19SiCYaYKZh9A8HUjuh14eg5wtYzKxiFbB, to another unknown wallet with address 14GcjGjxwadzcpmq9EG3KUgTKATjurbnWt.

Read more at https://bit.ly/2VRQwb0

2) Bitwise Report 2.0: Bitcoin [BTC] futures continues growth: On a month-on-month basis, Bitcoin Futures saw a massive bump in April trading at an average of 10,000 contracts daily, peaking on April 4, with over 22,000 contracts traded. To put that number in perspective, in March 2019, the average contracts traded was less than 4,000. Despite the high standards set in April, the average daily contracts traded in May, with 25 days gone has exceeded 14,000 and still looks to grow, given the price performance of Bitcoin.

Read more at https://bit.ly/2W40sTR

3) Craig Wright on private keys: Craig S Wright has, for years, claimed he is the true creator of Bitcoin [BTC] without providing a shred of evidence to support the same. With the crypto-community levelling, Wright could prove his worth by sending BTC from Satoshi Nakamoto’s touted wallet containing around 980,000 BTCs, the BSV man in a twisted cause and effect situation, stated he will “sign” into his wallet only when he proves he is the creator.

Read more at https://bit.ly/2X6fdlw

4) Tether’s [USDT] market cap hits ATH: Tether and Bitfinex are being closely scrutinized now more than ever due to the NYAG’s lawsuit; however, the scrutiny doesn’t seem to have affected Tether as the market cap of USDT has increased by over $100 million in approximately 70 days.

Read more at https://bit.ly/2McaTjE

5) Tether volume shift: Another controversial topic in the cryptocurrency industry was the issue of fake transaction volumes on many of the popular cryptocurrency exchanges. The magnitude of the topic was so large that even Changpeng Zhao, the Chief Executive Officer [CEO] of Binance had raised red flags. This topic and Tether as a whole received another twist when Larry Cermack, the Director of Research at The Block, pointed out a few parameters when it came to the said volume.

Read more at https://bit.ly/2wmk4mJ

6) Bitfinex’s LEO tokens listed on Delta Exchange: Bitfinex’s Leo tokens faced quite a lot of criticism when they were announced, due to the missing $850 million funds from Bitfinex. The private investment round by Bitfinex also faced a lot of heat from the media. However, in a recent development, Leo tokens are being listed on various exchanges for trading.

Read more at https://bit.ly/2HUEnNB



7) Robinhood en-route a projected valuation of $7 billion: Robinhood, the California-based cryptocurrency exchange made headlines recently when a source close to the organization revealed that it was on the verge of closing their latest round of funding at a valuation of a whopping $7 billion – $8 billion. Sources even claimed that the current round of funding could act as a precursor to an even bigger round of funding, which would pit Robinhood with the bigwigs like Coinbase and Binance.

Read more at https://bit.ly/2W64KKj





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