Binance.US Is Listing Chainlink (LINK) and Ravencoin (RVN)

Binance.US, Binance's trading platform for its customers in the U.S., announced on Thursday (October 10) that it had added support for two additional cryptoassets: Chainlink (LINK) and Ravencoin (RVN).

Binance.US, which was launched last month, is a digital asset exchange that is "powered by matching engine and wallet technologies" licensed from Binance but is operated by San Francisco-based BAM Trading Services.

Binance.US says that it has already started taking deposits for both LINK and RVN. It should be noted that in the case of ACH USD deposits, "you will be able to buy and sell digital assets from your USD wallet immediately, but deposited funds are placed under an initial hold of 10 days before you can take them out of Binance.US."

USD-based trading pairs for LINK and RVN are set to open at 21:00 EST on 10 October 2019 (or 01:00 UTC on 11 October 2019).  Only once trading in these two pairs has gone live will withdrawals be possible.

These latest additions mean that by October 11, Binance.US will have the following trading pairs on offer:

  • BTC-Based Pairs: ETH/BTC, XRP/BTC, BNB/BTC, LTC/BTC, and BCH/BTC.
  • USD-Based Pairs: BTC/USD, ETH/USD, XRP/USD, BCH/USD, LTC/USD, BNB/USD, USDT/USD, ADA/USD, BAT/USD, ETC/USD, XLM/USD, ZRX/USD, LINK/USD, and RVN/USD.
  • USDT-Based Pairs: BTC/USDT, ETH/USDT, XRP/USDT, BCH/USDT, LTC/USDT, BNB/USDT, ADA/USDT, BAT/USDT, ETC/USDT, XLM/USDT, and ZRX/USDT.

At press time (10:00 UTC on October 10), according to data from CryptoCompare, here are how Chainlink and Ravencoin are doing:

LINK-USD 24 Hour on 10 Oct 2019.png

RVN-USD 24 Hour on 10 Oct 2019.png

 

Featured Image Credit: Photo via Pixabay.com

Derivatives Trading Platform Synthetix (SNX) Is up Over 5,000% Since 2019

Michael LaVere
  • Derivatives trading platform Synthetix is the best performing DeFi product since April 2019.
  • Synthetix's native token SNX has appreciated more than 5000 percent over the last two years. 

The little-known crypto-asset Synthetix (SNX) is the best performing decentralized finance (DeFi) project of the past two years. 

According to a tweet published by popular crypto analyst Alex Saunders, SNX has been the best performing DeFi asset since April 2019. Saunders claims that Synthetix has appreciated 5000% over the past two years and was one of the top two ETH-based projects he has been following since Edcon Sydney 2019. 

SNX’s price took off in June, from $0.79 at the start of the month to its current trading price of $2.73, representing a 245% increase. 

Synthetix is a derivatives trading platform built on the ethereum blockchain that allows users to trade on stocks, crypto and other commodities. Users are required to exchange bitcoin or ethereum for SNX tokens in order to participate in trading. 

The exchange’s native token can be locked as collateral to produce “synths” such as a synthetic U.S. dollar (sUSD), which in turn can be used to place bets on rising and falling asset prices. 

Synthetix also operates a reward program, where users of the exchange can stake their SNX tokens as collateral in order to receive additional benefits.

Featured Image Credit: Photo via Pixabay.com