Binance to Freeze 12B TRX

12 000 000 000 Tron tokens are the 1/6 of the total circulation
01 October 2019   169

Binance cryptocurrency exchange froze over 12 billion TRX tokens and, having voted for them, came out on top in the list of 27 Tron super-representatives (block manufacturers). It is reported by UToday.

Binance’s voices are believed to have provided user funds that are stored on its staking platform.

The head of the BeatzCoin project (now in third place on the list) Misha Lederman noted that the exchange froze ⅙ of the total volume of TRX in circulation. In his opinion, such a reduction in the supply of coins in the market will strengthen their price.

Binance's sudden entry somewhat disrupts the SR voting system that has been in place since the beginning of the TRON SR voting process that truly began on July 25, 2018. By buying 12 billion votes, freezing them, and voting for themselves, they might be setting a precedent for other large exchanges to follow. However, bringing major players like Binance into the TRON ecosystem will likely also bring closer cooperation between working products built on TRON such as and TronWallet.Me with Binance and other major exchanges likely to make similar moves like Binance just did.

Misha Lederman

Head, BeatzCoin

At the same time, Lederman noted that this Binance move violates the established system of voting in the network. The exchange received 59.2% of the vote, the next in the list of block producer, Sesameseed, only 2.57%, BeatzCoin - 2.27%.

Nasdaq to Launch Index, Based on 100 Crypto Assets

Neural network, considering 200 different factors, helped to create the list of the assets tracked by the CIX100 index
16 October 2019   84

Nasdaq, the world's second largest stock exchange, has added the CIX100 index based on 100 crypto assets, reports CoinTelegraph.

When building a basket of hundreds of leading digital assets, the tool from uses neural network algorithms that take into account more than 200 different factors. Such a comprehensive analysis allows, in particular, to exclude coins with fake volumes.

It is also known that the index draws data on transactions on the nine largest bitcoin exchanges, and also analyzes information from social networks and the media. Only those coins that last in the top 200 for at least three months can become components of the CIX100. The composition of the index will be reviewed monthly.

According to the developers, the index will be useful for both newcomers to the industry and professionals.