Aeternity and NEM to be listed on Bithumb

NEM and Aeternity are currently among the most reliable and solid representatives of the crypto market: today these altcoins are to be listed on Bithumb
07 June 2018   2245

Bithumb is the largest cryptocurrency exchange in Korea. It’s constantly ranked among the top 10 worldwide crypto exchanges in terms of trading volume. The exchange suggests the lowest commission rates in the world. Bithumb, at last count, was also responsible for about 50% of South Korea’s Ether trading. 

When major exchanges list smaller altcoins they commonly pump and dump that is what we can observe at the moment. Nem and  Aeternity are listed on Bithumb today which is causing it to pump by around 15% at the moment. Presently the best performing solid gainers one in the top 25 at the moment is Nem, with Aeternity at 27 also growing. 

Nem is mainly traded in Asia at the moment with Upbit in KRW leading the way at 25% of the total and Zaif in JPY taking 15%. The volume spike came about some hours ago when it jumped from $16 million to $33 million. Total market cap for XEM is currently $2.3 billion positioning it at 15th in the charts almost level with Tether.

NEM charts
NEM charts

Market capitalization for all cryptocurrencies is up marginally this morning by 1.2% to $348 billion, trade volume is unchanged at $15 billion. Over the past 7 days it has increased 7% from $325 billion this time last Thursday. There are a few other altcoins trading strongly this morning in Asia and they include Aeternity up 15%, Ontology up 8.5%, Zilliqa up 9.5% and Siacoin 8.6% higher on the day.

Aeternity charts
Aeternity charts

Aeternity Price at the moment of press: $3,74
Market cap: $871 174 997
Volume (24h): $38 581 200

Binance Singapore Unit to Apply For License

Under the new law, aimed at regulating crypto paymetns and trading, firms must register with the Monetary Authority to receive a license
17 February 2020   246

Binance, a Singapore-based cryptocurrency exchange unit, has applied for a license under the new Payment Services Act, which entered into force on January 28.

We have already applied. We submitted the application pretty fast. Binance’s Singapore entity has been in close touch with the local regulators, and they have always been open-minded.

 

Changpeng Zhao

Founder and CEO, Binance

Under the new law, crypto companies in Singapore must register with the Monetary Authority and receive one of three licenses: an exchange of money, a standard or large payment institution. The measure is aimed at regulating payments and crypto trading using requirements for participants in the traditional finance industry. Zhao did not specify which of the licenses Binance Singapore chose.

Binance has been offering crypto-fiat trading services in Singapore since April 2019 and works with eight coins, including Bitcoin, Ethereum and XRP. The trading platform is supported by Vertex Venture Holdings, a venture division of Singapore's Temasek Holdings.