Catherine Coley, the CEO of Binance.US announced on Twitter that the American subsidiary of Binance surpassed $10 million in daily trading volume for the first time.
CEO Changpeng Zhao noted that it took Binance.US less time to reach the daily $10 million mark than it took Binance in the beginning.
For comparison, according to CoinMarketCap, Binance completed over $823 million in trading volume today.
Since its launch on Sept. 23, Binance.US has added new coins almost every week, including Algorand, Zcash, IOTA, Chainlink and many others.
Binance.US currently offers five BTC trading markets and 19 USD markets.
On Oct. 21, Binance.US announced the addition of IOTA and BUSD. This became the first time IOTA was listed on a fully regulated cryptocurrency exchange in the U.S., according to Dan Simerman, head of financial relations at the IOTA Foundation.
The company said it plans on introducing new cryptocurrencies in batches following the initial launch. The batches, Binance.US said, will be “highly-curated” and meet U.S. regulations and compliance standards based on the Digital Asset Risk Assessment Framework.
Alongside with IOTA, Binance.US also listed BUSD, a fully-regulated and USD-denominated stablecoin. BUSD made headlines in September when it received approval by the New York State Department of Financial Services (NYDFS), becoming one of the few cryptocurrencies that can be sold to New York residents.
Despite the rapid expansion of Binance.US, the state of the U.S. cryptocurrency exchange market remains uncertain.
Earlier this week, Poloniex, a cryptocurrency trading platform acquired by Circle for $400 million, said that it is moving out of the U.S. to focus on the global market, possibly due to regulatory roadblocks in the U.S. market.
Whether the departure of popular cryptocurrency exchanges from the U.S. would benefit existing exchanges or would signal the start of a more difficult environment for cryptocurrency exchanges remains to be seen.
You really need to know these common types of orders:
A buy stop order is entered at a stop price above the current market price. Investors generally use a buy stop order to limit a loss or protect a profit on a stock that they have sold short.
A sell stop order is entered at a stop price below the current market price. Investors generally use a sell stop order to limit a loss or protect a profit on a stock they own.
A limit order is an order to buy or sell a security at a specific price or better. A buy limit order can only be executed at the limit price or lower, and a sell limit order can only be executed at the limit price or higher.
Example: An investor wants to purchase shares of ABC stock for no more than $10. The investor could submit a limit order for this amount and this order will only execute if the price of ABC stock is $10 or lower.
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@CryptoCrunchApp - Alibaba Offers Bitcoin Rewards Through Lolli Shopping App.
Alibaba partnered with Bitcoin rewards shopping app Lolli, enabling its shoppers in the U.S. to earn 5% back in Bitcoin. Alibaba customers can now get Satoshis (sats), the smallest unit of Bitcoin currency, worth 0.00000001 BTC, when shopping “thousands of items online,” Lolli says. This announcement comes on Singles Day, the Nov. 11 Chinese shopping holiday comparable to the U.S.’s Black Friday. The co-founder at Lolli pointed out that the new move is a milestone partnership for Lolli.
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Venezuela’s central bank is running internal tests to determine whether it can hold cryptocurrencies in its coffers, according to four people with direct knowledge of the matter.
The efforts come at the behest of state-run Petroleos de Venezuela SA, which is seeking to send Bitcoin and Ethereum to the central bank and have the monetary authority pay the oil company’s suppliers with the tokens, according to the people, who asked not to be identified discussing internal deliberations. Staffers are also studying proposals that would allow cryptocurrencies to be counted toward international reserves, now near a three-decade low at $7.9 billion.
U.S. sanctions against Nicolas Maduro’s authoritarian regime have largely isolated Venezuela from the global financial system, exacerbating one of world’s most severe economic crises and forcing officials to use a patchwork of methods to move money around. While Maduro’s plans to start the world’s first sovereign crypto largely failed, the continued efforts to use digital currencies shows how desperate the government is to come up with a way to skirt the restrictions.
It isn’t clear how PDVSA came to own Bitcoin and Ethereum, or the value of its holdings. But the oil producer has struggled to get paid by customers via conventional channels because major banks are hesitant to do business with a sanctioned entity. Last month, the company received most of a $700 million payment in Chinese yuan after the parties struggled to find financial institutions that would facilitate a transaction.
Instead, it wants the central bank, which officials at the oil company believe is less exposed to potential blocks, to use the crypto to pay entities PDVSA owes money to.
Cryptocurrencies have staged a comeback this year following 2018’s rout. While Bitcoin has plummeted almost 20% in the past four days, it’s still up more than 130% this year.
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