Connect with us

Altcoin News

Binance Launches Phase Two of Binance Lending Product With Three More Assets

Published

on

Binance has official unveiled the launch of its Lending Product second phase. The phase is expected to commence on the 4th of September with two fixed maturity term.

The first phase of the Binance lending received full subscription in less than 10 minutes generating loan of over $15 million.

According to Binance, lending products will be made available with a 14-day lending term and a 28-day fixed lending term.

The first phase commenced with only three lending products which were BNB, USDT and ETC. The second phase starts with an addition of three other digital assets taking the total lending products available to 6 in total.

For the second phase, Lenders can lend their ADA, ETH and BTC along the previously made available lending products in the first phase.

As with the previous phase, subscription is strictly on First-come-first serve basis.

For each of the Lending products, users can opt in for 14 day or 28 day term each generating the following interest returns:

For 14-day Lending Products:

USDT has a cap subscription of 20,000,000 with individual cap set at 1,000,000 USDT. It is expected to generate an annualized interest of 8%.

ETC has a cap subscription of 20,000 with individual cap set at 1,000 ETC. It is expected to generate an annualized interest of 7%.

ADA has a cap subscription of 10,000,000 with individual cap set at 500,000 ADA. It is expected to generate an annualized interest of 6%.

ETH has a cap subscription of 10,000 ETH with individual cap set at 100 ETH. It is expected to generate an annualized interest of 6%.

BTC has a cap subscription of 1,000 BC with individual cap set at 10 BTC. It is expected to generate an annualized interest of 3%.

For 28-day Lending Products:

BNB has a cap subscription of 200,000 BNB with individual cap set at 100 BNB. It is expected to generate an annualized interest of 10% while USDT is expected to generate an interest of 8.25% with 500,000 USDT as personal cap against a total subscription cap of 10,000,000 USDT.

Binance also revealed that the BNB balances in the lending product will be included in each user’s daily BNB balance calculations for Binance Launchpad and other daily calculations.

The subscription period for the second phase is expected to commence from 6:00AM (UTC) on the 4th of September, 2019 to 0:00AM (UTC) on 5th of September, 2019.

Interest calculations commences immediately after subscription closes while interest payout time is also immediately after maturity.

Spread the news
Advertisement
Comments

Altcoin News

Brad Garlinghouse,CEO of Ripple Predicts the death of Most Cryptocurrencies 

Published

on

The CEO of Ripple, Brad Garlinghouse has predicted the death of the majority of all the cryptocurrencies in existence. According to him, they will likely go to zero.

This prediction was made via a live interview with Bloomberg where he said very few number of cryptocurrency projects will survive and grow significantly as they are concerned with actually solving real life problems.

Others will likely fail because they can not support or solve real life problems. According to Brad, “Anytime there is a new market, there are a lot of people that run into that market and try to show that they can solve a problem, they can deliver a customer need.”

With more than 3,000 cryptocurrency that trade on a daily basis, he said, very few of them will actually be able to meet customers needs, and the majority of them will probably go to zero.

The same prediction made by Brad Garlinghouse has been made by others before most especially during the ICO boom days that say
w thousands of cryptocurrency project launched offering various “moon shot” products and services.

Max Keiser had also predicted the death of majority of altcoins according his twitter post in August, which reason “#Bitcoin dominance 68.2% — heading to 80% — as alts die in favor of BTC. The 2014-2017 era of alts and hard forks is dead. Don’t be the last to rotate out of alts into BTC.”

The growth in cryptocurrencies is caused by the hype around the crypto ecosystem, Garlinghouse said

Spread the news
Continue Reading

Altcoin News

Electroneum to Launch ETN Powered Freelance Platform, Welcomes Beta Testers. 

Published

on

Electroneum is set to launch its own blockchain powered freelance platform AnyTasks.com and it is calling for Beta testers to test the platform.

In an email sent to users, Electroneum said it has been talking about and building the platform for a long time.

AnyTasks.com according to the email signed by the CEO, Richard Ells, is the Electreoneum powered freelance economy platform for the world’s unbanked.

It is different from other freelance platform to ever exist as buyers pay with a credit card and sellers get remittance automatically in ETN.
Electroneum calls on experienced persons in the freelance economy to join its Beta Testing Group and according to it, will help place final touches on the platform before public release.

The decision to join the Beta Testing Group according to ETN “will be helping to shape the futures of MILLIONS of people around the world, whose lives will be positively impacted by this launch.”

Explaining why AnyTasks was built? It was quoted saying

Increasingly, more of us around the world are selling online, be it on eBay, Fiverr, Etsy, or the like. In excess of $200 Billion is spent each year within the freelance economy, providing many with the ability to earn their own living. Yet, without access to a bank account, this remains an impossibility for hundreds of MILLIONS of people across the world.

We’re changing that! People in emerging markets can earn as little as $3 per day on average. Imagine if we could give these people access to an online marketplace, where they could sell a single digital task for more than their average daily wage. AnyTasks will provide people that opportunity.”

Additionally, a learning platform TaskSchool will be launching in the first quarter of 2020. TaskSchool will enable users to learn simple skills they can sell via their smartphones through the AnyTasks platform.

We’re changing the world, and we’d really appreciate you taking a little of your valuable time to be part of shaping it, Electronuem concluded.

Spread the news
Continue Reading

Altcoin News

Crypto Market Opens With Bitcoin Above 9k as it gains $2k under 24hours, Nigerian Industry Participants Share insights.

Published

on

Cryptocurrency market opened the day with Bitcoin above $9000 as it gains $2000 under 24 hours with over 68% dominance. The rise could be attributed also to the President of China as he talked about crypto.

Across board, cryptocurrencies are show significant gains with the dominant cryptocurrency Bitcoin showing a 26.48% gains as it adds $2k under 24 hours. Dominance is currently standing at 68.3% with the current value sitting at $9400+.

Ethereum, the second largest cryptocurrency by market capitalization is currently enjoy an increase of 16.26% as it trades currently at $188. Market capitalization has increased to over $20 billion.

XRP has gained 4.1% giving it the value of $0 29 with a market capitalization of $12.61 billion.

With other cryptocurrencies enjoying good gains, one would wonder what could have fueled the price action across the board and what it means going forward.

According to the Founder of Crypto Masterclass, Mr. Tola Joseph, he said

“It’s simple. This is the positive effect of BAKKT Bitcoin futures trading. Few weeks ago, I wrote on my WhatsApp status that BAKKT ruined Bitcoin (because of delay in launching Bitcoin futures) and I said this same BAKKT will impact Bitcoin greatly.

Mr. Tola Joseph expressed great confidence in the future about Bitcoin. He said,

“We are seeing this happening already. I think we are just getting started with the party. I think it won’t take long before we break Bitcoin all time high. The whole world will tremble and awareness will increase.”

CEO of Kurecoin Mr. Tega Abikure also gave insight into the reason for the surge in prices. According to him,

“There are several speculations as well as several possible reasons for this to have happened besides the normal suspicions of whales manipulation of the currency…”

He continued by saying,

China’s recent declaration to go full time blockchain across board and their desire to contest US current world currency domination through a wide accumulation of Bitcoin

These and many more including Bakkt futures gave the market such a response, however I also expect a correction as well.”

While Mr. Tola Joseph’s prediction portrays a bullish sentiment, Tega Abikure’s opinion on the immediate future is bearish. He said “I still believe the market is heading for a Low. Maybe around the 5k region”

For every bull run, there is always a correction as the charts always shows.

For the CEO of Nigerian Cryptocurrency Exchange, Bitfxt, Mr. Franklin Peters, according to him, the surge was needed for bitcoin to have a breathing space. The dump which saw the market went down required some space for the assets to climb back up. Bitcoin has been dangling, and considering the halving next year, people want to buy at its lowest so as to gain. It’s possible huge institutions came in as indicated by the huge volume of tether dropped into the market.

The upsurge in crypto market must have been anticipated by lots of people in the industry. One of these people is Mr. Tola Joseph of Crypto MasterClass.

As the thrust has started depreciating in its potency, Bitcoin and other cryptocurrencies will likely see some corrections. While the optimism shared could very well be pleasing to the ears, what does the chart says matters. As the saying goes, history repeats itself. What say the chart? We will wait and see.

Spread the news
Continue Reading

Altcoin News

Dogecoin to be Listed on the Binance US Platform 

Published

on

Leading cryptocurrency exchange Binance announces the listing of dogecoin on its Binance.us platform. Hours ago, Binance released a blog post announcing dogecoin will be tradable on its US platform by 9pm EST 24th, October, 2019.

Now users can deposit dogecoin into the platform and start trading.

Binance.us is according to Binance “a fast and efficient marketplace providing access and trading across a diverse selection of digital assets.”

Binance continues to grow its presence globally. Hours ago, it also announced a partnership arrangement which will allow Nigerians and Africans to easily purchase Bitcoin, Binance coin and other cryptocurrencies using their debit or credit card.

The partnership with Flutterwave will also eventually allow other countries such as Kenya and South Africa to purchase cryptocurrency on Binance using their debit or credit card.

According to the Binance, it will continue to evaluate coins, tokens and trading pairs to offer on Binance.US in accordance with its Digital Asset Risk Assessment Framework, community feedback, and market demand.

Dogecoin is an open source peer-to-peer digital currency, favored by Shiba Inus worldwide. Available on several OS such as Windows, Mac, Android and Linux, it’s currently trading at currently trading at $0.0025 based on data from coinmarketcap with a volume of $77+ million and market capitalization of $314,840,46.

Spread the news
Continue Reading

Find Us

Address: 7 Kafi Street, Beside City Mall, Shoprite, Alausa, Ikeja, Lagos.

Hours: Monday—Friday: 9:00am–5:00pm

Contact: +234 817 866 6900

Trending

Copyright © 2019 Cryptoptvplus. Powered by Ma media