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XLM climbs up on Binance’s list to become the fourth most-traded cryptocurrency

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XLM climbs up on Binance's list to become the fourth most traded cryptocurrency
Source: Pixabay

Stellar Lumens has overtaken Ripple’s XRP to become the fourth most-traded asset on Binance. XLM has been consistently on the news last week with a barrage of announcements as it overtook EOS and became the fifth-largest cryptocurrency [by volume].

Source: Trading View

XLM is now the fourth most-traded asset on Binance, just after Bitcoin [BTC], Bitcoin Cash [BCH] and Ethereum [ETH]. However, XLM’s current trading volume on Binance exchange for XLM/BTC pair is $27.21 million, while XRP’s trade volume for XRP/BTC pair is $19.65 million. Moreover, the XLM/USDT trading volume is $12.76 million while that of XRP/USDT is $13.79 million. Cumulatively, the XLM trading volume comes up to $40.33 million while that of XRP is $33.06 million.

Bitcoin Cash [BCH] is currently the number one against the BTC trading pair, with trading volume of $62.29 million, and has a trading volume of $38.99 million with USDT pair. Bitcoin paired with USDT has a trading volume of $62.14 million and contributes a total of 11.40% of the total trades on Binance, while BCH contributes a total of $101.14 million in trading volume which is 18.59% of the total trades.

Ethereum [ETH] has a total of $48.22 million in trade while, which is 8.85% of the total trading volume. The Ethereum ETH/BTC pair contributes $20.054 while that of ETH/USDT contributes $28.16 million.

Stellar Lumens recently overtook EOS, which was at the fifth spot for the longest time. The trade volume of XLM, in a seven-day time frame, increased by an astronomical 125% to reach $121.88 million from a mere $54.07 million, while EOS’ market cap reduced to $4.89 billion.





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Whale Alert: Massive $300 million transfer takes place on Binance Chain; funds SAFU, says CZ

Biraajmaan Tamuly

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Whale Alert: Massive 300 million BNB Coin transfer takes place on the Binance Chain; CZ responds amidst transaction
Source: Pixabay

Binance, one of the world’s largest cryptocurrency exchanges, has been having a wonderful year in terms of new developments, such as their new Binance DEX and the massive growth of Binance Coin [BNB]. Binance’s native token has grown by approximately 500 percent in 2019 alone.

The exchange also recently announced the launch of BTCB, with an objective to provide a crypto-asset pegged to BTC’s value for trading purposes on Binance DEX, with the assets being backed by Binance itself.

Binance’s ecosystem is progressively active and it was recently observed and reported by Whale Alert, an online cryptocurrency-transaction tracker, that a sum of approximately $302 million, equivalent to around 8 million BNB coins, was transferred on the Binance Chain.

The transaction took place of 26th January 2019, with a time stamp of 07:52:56 UTC. It was sent from an unknown address, bnb1jkvrjawcd8wlugk8455wqjggxecyxj9uf0g7uy, to another unknown wallet, bnb13wmeg7ypkcr39wnzy2q02mku2qemnrm4kclezs, for a transaction fee of 0.000375 BNB. The block height of the transaction was #15820220, and it was deemed a successful one.

Following the massive transfer, Changpeng Zhao, CEO of Binance, responded on Twitter regarding the transfer and claimed that the current movement was a rotation of funds between some cold wallets.

CZ suggested with a linked tweet that the movement of funds should not necessarily raise any alarms as the funds were SAFU.

In another tweet, CZ  stated that there were currently 4 addresses that were holding 8 million BNB coins each. A total of $32 million BNB was unlocked for the Binance team. However, it was understood that the tokens were not spent and saved in the addresses themselves.

It is speculated that CZ took the initiative to list the reason for the massive transfer as previously, huge BTC transfers, which included a Coinbase wallet transfer, was accused of market manipulation.

At press time, BNB coin was priced at $37.30, experiencing a hike of 1.87 percent over the past 24 hours.





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