It is Binance’s prerogative to list whatever coins it likes, and it is not responsible for the prices that traders choose to pump coins to. For so long as the exchange dominates the market, altcoins will clamor to be listed and traders will compete to catch the pump, regardless of the coin’s fundamentals. As one of the oldest and least fashionable cryptocurrencies on the market, bytecoin was an unexpected addition to Binance. The exchange is more accustomed to listing the latest “must-have” tokens such as Wanchain, but appears willing to add any coin if the price is right. The addition of bytecoin , as well as other recent listings, has had some traders scratching their heads. BCN is a controversial coin due to an allegedly huge pre-mine when it launched in 2014.
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“Bytecoin should proceed its trading on Binance without any issues, and we are trying to come to an agreement as soon as possible. For now, any detailed communication with the Binance can’t be disclosed for privacy reasons.
One of the largest reasons behind such a rapid growth was the high diversity regarding the offered digital coins on Binance’s platform. However, Binance also introduced some rather high listing fees, which also attracted a lot of negativity and criticism. On 8th May 2018, Bytecoin was listed on world’s biggest crypto exchange, i.e. Binance, and in a matter of 24 hours, its price rocketed more than 30 times. The trading volume also reached its all-time high of 600 million dollars. Typical bugs do exist in many cryptocurrencies, but instead of giving a chance to the Development team, to rectify the protocol, the Exchanges must not delist them as such. Bytecoin was very much renowned for its anonymous Transactions and was also one of the key coins, to be accepted by various porn websites as a payment method.
Because of a few different reasons I didn’t get back into crypto until recently. I just started trading bitcoin with this beta testing group and i’m going to keep all my bitcoin this time. Crypto currency will be the biggest wealth transfer of our generation. Bitcoin is turning into our generations version of digital gold.
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Therefore, in order to avoid any kind of losses to their customers, the exchanges have taken this decision. One must understand very firmly that all the ebbs and flows are a part of its daily operations. When a particular cryptocurrency has a fundamental use case and even performs really well, then it is absolutely inevitable for it to remain away from unpopularity.
- Along these lines, with the end goal to stay away from any sort of misfortunes to their clients, the trades have taken this choice.
- Bytecoin was the primary cryptocurrency dependent on the Cryptonote innovation, dominatingly joined for their unknown exchanges.
- The other cryptocurrency in the rundown, which was to be disposed of by the trade activities were ChatCoin, Iconomi, and Triggers.
- The cryptocurrency coin was recorded on different trades all throughout the world.
- As indicated by data, it is outstanding that Binance was one of the main suppliers of market liquidity to BCN as it was generally exchanged it.
It then effectively disappeared off the radar before resurfacing last year. The delisting of Bytecoin from the exchange isn’t viable, as it has such a negative impact on the community. More recently, even Okex has been following the footsteps of Binance and announced that even they would be delisting Bytecoin from its operations too.
Another aspect that all these cryptocurrencies share is volatility, which to a typical investor may seem like a deterrent, However, to a day trader it’s a big plus. Trading Bitcoin and altcoins allows the trader an amazing opportunity to take advantage of outrageous price fluctuations that just bitcoin bonus aren’t seen in the traditional marketplace. For these reasons day traders are currently flocking to trade cryptocurrencies. blokt.com— Binance, the world’s largest cryptocurrency exchange has announced on Oct. 9 that it will delist Bytecoin , ChatCoin , Iconomi , and Triggers from its platform.
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Pretty much the entire cryptocurrency industry saw all-time highs towards the end of 2017 and some followed on to early 2018, and if this happens again, their prediction could come true. In reality, nobody can predict the future, because if we could, we would all be very rich. This is especially true in the cryptocurrency bytecoin binance industry as the markets are really volatile. Sometimes you can get a coin that goes up more than 1,000% in a single day, with no clear explanation as to why it happened. The native Bytecoin cryptocurrency is also referred to as BCN and in total there will be a maximum supply of 184,470,000,000 coins.
If you don’t know how to do that, then you can just follow one of our step-by-step guides on how to buy Ethereum or Bitcoin. The amount of Bytecoin Reddit followers exceeds 2700 of users, thread on bitcointalk more than 310 pages and 6000 messages. Bytecoin was included in TOP 25 market cap rating on Coinmakretcap.com with capitalization – $287,854,652 and daily trade volume over $2,223,710 which rising day by day.
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The Bytecoin community is very supportive in nature, which wouldn’t affect the value of Bytecoin much. The coin is still available to be traded on HitBTC and Poloniex which have understood the future potential of the cryptocurrency coin. Binance announced yesterday that it was going to delist four different coins from its exchange. It made the announcement https://beaxy.com/ in a post explaining that it conducts “periodic reviews of each digital asset listing on our platform” in order to “maintain a high standard of quality”. Bytecoin has a chequered past when it comes to technical issues and suspensions on exchanges. Earlier this year on Binance, deposits and withdrawalswere suspended due to “network issues”.
The high quality is one of the key aspects that the coin has to possess to even reach Binance’s list. However, as the crypto market continues to change and evolve, some coins eventually lose the ability to keep up.
When the price hits the target price, an alert will be sent to you via browser notification. To receive alerts, please allow web browser notification https://www.binance.com/ permission. Any transactions associated with this coin will also be removed. Bringing the network into a stable state is currently our top priority.
Indeed, even the clients were educated not to attempt any shape concerning Bytecoin exchanges. Something else, every one of the requests would in a flash be dropped and dismissed by the framework naturally. This specific trade referred to the inabilities of the formative group and said that notwithstanding basic bugs in the cryptocurrency, the designers haven’t amended it.
According to the press release, Binance conducts comprehensive and periodic reviews to ensure that listed cryptocurrencies on its platform maintain a high standard of quality. In case a digital asset fails to meet the criteria, Binance performs additional review to potentially delist it. Common bugs do exist in numerous cryptocurrencies, yet as opposed to allowing to the Development group, to amend the convention, the Exchanges must not delist them in that capacity. Bytecoin was especially famous for its unknown Transactions binance block users and was likewise one of the key coins, to be acknowledged by different porn sites as an instalment strategy. The Bytecoin people group is extremely steady in nature, which wouldn’t influence the estimation of Bytecoin much. The coin is as yet accessible to be exchanged on HitBTC and Poloniex which have comprehended the future capability of the cryptocurrency coin. After all, Binance did put a lot of work into its expansion over the last year, and it even managed to outgrow Coinbase, at least when it comes to trading volume.
This week was bleak for Bytecoin as the cryptocurrency got delisted from two major crypto exchange platforms, one of them being Binance. However, Bytecoin might come back on Binance, as the crypto’s team and the trading platform are in talks on this matter.
Even the customers were advised not to undertake any form of Bytecoin transactions. Otherwise, all the orders would instantly be canceled and rejected by the system automatically. This particular exchange cited the incapabilities of the developmental team and said that despite critical bugs in the cryptocurrency, the developers haven’t corrected it.
This shows us that even a small update like the above can cause a massive Bytecoin price increase! However, bigger news came in May 2018, where major cryptocurrency exchange Binance announced that it was going to start listing Bytecoin. This is actually really good news as Binance is responsible for close to $2 billion in daily trading volume. When I talk about market capitalization, this is the best way to understand how much the cryptocurrency is worth in total, based on the current market price.