Total Value Locked in Binance Smart Chain Surpasses $15B; Brave Joins in with Wrapped BAT

To “dramatically inspire mass adoption and inclusive finance.”

Basic Attention Token (BAT), the native token to the privacy-focused browser Brave, has joined Binance Smart Chain and will be available on BSC as wrapped 34BAT, announced the team on Monday.

“Our hope is that BAT and Brave will take crypto mainstream and to make DeFi user-friendly for the mass market,” said Brendan Eich, CEO, and co-founder of Brave.

Brave browser has more than 25 million monthly active users (MAU) and over 9 million daily active users (DAU).

With this integration, BAT holders can now participate in BSC-based projects like DEX PancakeSwap and lending project Venus among many others. Xiaoguang Zhang, Binance Smart Chain Ecosystem Coordinator said,

“With this strategic integration … we will introduce seamless UX together for crypto users to access DeFi and Dapps in BSC and other blockchains, which will dramatically inspire mass adoption and inclusive finance.“

Currently, the browser supports both Ethereum and BSC through a configuration change in the wallet, but Brave is planning to preconfigure support for BSC later this year, allowing users to access the blockchain without the hassle of creating new wallets or downloading additional apps.

The low cost of BSC has been attracting a lot of users, particularly smaller ones priced out of the Ethereum network. This has resulted in the total value locked (TVL) in BSC exceeding $15 billion, as per BSCProject. However, it is nowhere near Ethereum’s $65 billion.

Recently, many popular DeFi projects like Alpha Homora, 0x, Matcha, and SushiSwap also deployed their contracts on BSC as part of the “multi-chain future.”

Brave, meanwhile, is further exploring the use of BSC to enable P2P tipping within the browser as Eich said, “We are especially excited by the low transaction fees and scalability” of BSC.

With over 3.8 million monthly transacting users and over 13 million Brave/BAT Rewards wallets, the team is planning to use the token to receive discounts and pay fees in an upcoming Brave DEX Aggregator.

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Author: AnTy

Regulation Will Only Boost Mass Institutional Buying and Selling: BitPay COO

Regulation Will Only Boost Mass Institutional Buying and Selling: BitPay COO

Sonny Singh says $20k is BTC’s floor price and expects $45k next month. According to him, Coinbase’s IPO is “very very instrumental” for the market and its numbers will blow Wall Street’s minds away.

$20,000 is the floor price for how far Bitcoin could go down, said Sonny Singh, Chief Commercial Officer at BitPay.

As for the upside, given that his $30k target has been hit in just 20 days rather than taking over a month, with “very little sell-side pressure,” he sees BTC going to $40k-$45k next month when some pressure will be seen.

Sonny also predicted that this year Bitcoin will “become a trillion-dollar currency” and the magic number for that is $54,000 roughly. At this point, he expects, even governments and the Treasury Department to start buying BTC “which may sound far-fetched but two years ago corporations buying bitcoin for the balance sheet was crazy too.”

Supply & Demand

Talking about the current price movement in the market, Sonny said Monday’s 20% correction was “just a minor blip in the road” — it wasn’t long-term fundamentals at all rather just futures getting liquidated. Singh said in his interview on Bloomberg,

“What you’re seeing over the last month is there’s supply and demand. There are a lot of institutional buyers out there and there’s very little supply.”

While these buyers have bought in all the BTC for a three to five-year time horizon, if Bitcoin hits about $45,000 next month or so and these institutions decide to start selling, the selling pressure of $200 million which the industry has never seen before can cause a catapulting event, to cause things to come down pretty quickly and there $20k will act as a floor, he explained.

Regulatory Concerns

On the regulation side, which remains a concern for outsiders, it is already happening. Governments are passing a lot of KYC/AML policies on the exchange but “that really won’t slow growth,” said Singh.

While it may slow the utility of sending Bitcoin to your friends or spending it at merchants, regulation will only help the actual mass institutional buying and selling, he said.

As for the Ripple part, Singh said it is to be seen if the SEC would want to do a long drawn out court case or do a quick settlement, especially as the administration changes under the new president.

According to Wayne Trench, chief executive officer at OSL, the main regulatory hurdles are already solved in terms of custody and clarity.

The last remaining pieces are regulators globally collaborating cross-border which is starting to happen now, said Trench noting that industry bodies are working on collaborating across borders that we’ll see play out a bit more in 2021.

Big for the Market

Singh also believes Coinbase’s IPO is “very very instrumental” for the market because while Wall Street loved that Square traded $1.6 bln with crypto in Q3 last year, Coinbase traded $1.5 bln on this last Saturday.

“The revenue numbers at Coinbase are going to blow people’s minds away and then Wall Street is going to really drive that stock price up,” he said. And then Charles Schwab, E-Trade, and others won’t sit back and let Coinbase have a sole market, Singh added.

“It’s going to put a lot of media frenzy around this whole industry.”

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Author: AnTy

YouTube is Reportedly Banning and Censoring Cryptocurrency Video Accounts

  • Nearly a dozen and counting YouTube accounts have had mass amounts of cryptocurrency videos removed.
  • A channel called Sam Smith Truth has been pushing for the removal of the videos on his own platform.

YouTube has been making several changes to their policies lately, and cryptocurrency-focused channels seem to be on the chopping block. A minimum of eight channels confirmed and more news forthcoming, in the wee hours of the morning, have already reported their removal from the YouTube websites, stating that that the content falls under the “harmful and dangerous” policy. Another popular channel, according to Bitcoin.com, stated that YouTube considered their channel to be connected with a “sale of regulated goods.”

There’s plenty of speculation over why YouTube has decided to shut down these crypto channels, as some suggest that a larger purge may happen for channels with smaller followings. So far, the channels that have seemingly been shut down include Chris Dunn, Chico Crypto, The Cryptoverse, Crypto Tips, and BTC Sessions. For Dunn, the majority of the removals on his channel took his crypto content, accounting for about two years of content on the website.

Chico Crypto has a following of about 67,000 subscribers, and he says he’s been banned from sharing for the next week. He also saw multiple videos get pulled by YouTube that covered cryptocurrency content.

The Cryptoverse’s Chris Coney stated that he got an email from YouTube for the ban, while influence Tone Vays remarked that his channel will likely be involve in this removal too.

Crypto Tips creator Heidi has a following of about 55,000 subscribers, and she states that “this new wave of censorship” has come after her as well.

There are many people that believe that this recent action is the result of major censorship of cryptocurrency on the video streaming platform, there are others who are concerned about personal conflicts. An alleged conversation on Telegram was posted by Chico Crypto, showing that a user identifying himself as Sam Smith plans to “keep flagging.”

The user’s description of himself indicates that he focuses on “Fighting back against racist scammars in crypto.” Bitcoin.com attempted to reach out to the user through Telegram to learn more, and the user simply replied that he was responsible for the ban of Chico Crypto “absolutely.”

Bitcoin.com pursued other information from the user, asking about the other channels that have seen bans. The user replied, “Many of them are anti Indians and they spew hate speech.” One his own channel – Sam Smith Truth – the user adds, “YouTube is finally taking a stand against the ‘white population’ of crypto by removing videos and giving strikes. Diversity is a beautiful thing and crypto should welcome all backgrounds.”

To help remedy this clear issue, there are many users who are suggesting a migration to other video platforms that don’t have the same desired to censor their creators, like Steemit, Bitchute, and Flote. It has yet to be made clear of whether there are mass reporting issues against these videos or if YouTube itself is cleaning up the crypto crews.

If the latter is true, it would hardly be the first time that it has been criticized for a controversial ban of users. In June, the New York Times reported on the widespread ban of thousands of videos and channels that supported “bigoted ideologies” on the website. The ban included “videos alleging that a group is superior in order to justify discrimination, segregation or exclusion,” like neo-Nazism and white supremacy. At the time, the ban was set to cover videos that denied that violent events had taken place, like the shooting that took place in Connecticut at Sandy Hook Elementary School.

Here is a look at what crypto twitter and Youtubers in the cryptocurrency space are experiencing:

Bitcoin Exchange Guide will continue to update this story about Youtube banning and censoring videos and user’s accounts in the near future.

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Author: Krystle M

CoinField’s Secret XRP Ledger Project Sologenic to Tokenize Stocks & ETFs

  • A project to facilitate mass adoption of cryptocurrency by allowing investment in stocks
  • Sologenic: Solo coin, XRPL-based DEX, Crypto Cards

Cryptocurrency exchange CoinField has finally revealed the details of its “secret” XRPL project, Sologenic. This ecosystem facilitates the trading of on-demand tokenized assets including stocks and ETFs from over 25 global stock exchanges or fiat backed stablecoins on top of the XRP Ledger.

As such, stocks like Tesla and Apple will be tradable on the XRP Ledger (XRPL).

“This platform tokenizes stocks on the XRPL as demanded, allowing you to trade it against any cryptocurrency and spend in real-time anywhere. Ultimately, Sologenic helps the mass adoption of cryptocurrency by allowing people to invest in stocks. It’s a WIN-WIN for everyone!” said Bob Ras, CoinField CEO.

Upcoming Projects: XRPL-based DEX and Crypto Cards

The exchange will leverage its Solo (Ƨ) coin, paired with fiat with third-party brokerage firms, to settle to bridge the crypto assets and stocks. For instance, USD would become USDƨ and Tesla shares would be converted to TSLAƨ, a tokenized stablecoin version of TSLA.

These crypto assets will be tradable against Solo and XRP on CoinField exchange and XRPL DEX. The decentralized exchange is one of its “most exciting” upcoming projects that is built on top of XRP Ledger enabling users to trade issued tokenized assets for XRP or SOLO.

Crypto Cards is another of its upcoming project that will allow the holders to spend their cryptos instantly anywhere in the world.

Coming in 2020

Launched in February 2018, CoinField enables trading against six fiat currencies. The Canada-based platform is currently in the process of transferring its headquarters to Spain.

Just last week the exchange launched an XRP validator and joined Ripple’s “Unique Node List” of trusted tier-one validators on the network. CoinField partnered with the founder of XRPL Labs Wietse Wind, online banking firm Cashaa, and top security legal firms to build the project Sologenic that has been in development for the past six months.

While the SOLO token will be released in December 2019 followed by VIP Pre-sale, it will officially launched in Q1 with a public IEO.

Crypto Cards will be introduced in late Q1 while decentralized exchange will be launched in Q2 2020. But users have to wait until later in the year to trade securities on the platform.

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Author: AnTy