The art museum in the Eastern Ukrainian city of Kharkiv has partnered with cryptocurrency exchange Binance to offer non-fungible tokens of some of its most valuable artworks. The launch of new products – the launch of Binance DEX and the Binance chain have what is binance coin played an important role in the price growth of BNB. BNB is one of the main assets for trading on DEX, so obviously, people started using it more often. More use-cases can lead to bigger adoption which will influence the price of the digital currency.

While the move is to improve security, it also raises perennial questions and debate about decentralization vs centralization in the crypto industry. LONDON, Oct 7 – A blockchain linked to Binance, the world’s largest crypto exchange, has been hit by a $570 million hack, a Binance spokesperson said on Friday, the latest in a series of hacks to hit the crypto sector this year. Pseudonymous crypto strategist Altcoin Sherpa tells his 176,000 Twitter followers that BNB, the utility token of crypto exchange Binance, is one of the binance coin price strongest altcoins in the market right now. Binance Coin appeared in the middle of 2017 and almost immediately got the attention of the cryptocurrency community. Within two years, BNB has managed to accumulate an impressive market capitalization and climb into the top 10 cryptocurrencies measured by that metric. Interest around BNB price predictions may pick up, as this top-5 cryptocurrency by market cap sees continued selling pressure today. Binance has halted the transactions on the BNB chain and Binance smart chain.

• Within two years, BNB has managed to accumulate an impressive market capitalization and climb into the top 10 cryptocurrencies measured by that metric.
• The network that supports two of the top ten cryptocurrencies by market capitalization was due to undergo the fork at around 4 p.m.
• Uncertainty over the Federal Reserve’s upcoming rate hike is keeping Bitcoin and altcoins under pressure.
• What’s particularly interesting about the latest quarterly BNB burn, according to the statement from the exchange, is that almost 5,000 of the coins were burnt through the Pioneer Burn Program.
• Binance Coin has accomplished an applaudable milestone in the cryptocurrency space.

The upgrade is expected to allow BNB to process between 5,000 and 10,000 transactions per second, vastly outperforming the blockchain’s current capabilities. BNB Chain, it’s worth noting, https://www.forextime.com/education/forex-trading-for-beginners is the largest smart contract network in terms of users and transaction volumes, although Ethereum’s $34 billion in total value locked dwarfs the $5.3 billion on BNB Chain.

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Investing in or trading cryptoassets comes with a risk of financial loss. A hardfork is when a blockchain protocol is changed, typically to address a problem on the network, creating a new chain and rendering older versions invalid. Controversial hard forks have happened before, including on Ethereum, the world’s largest blockchain after Bitcoin.

Today’s Binance news sees the exchange giant setting a new precedent, eliminating fees on Bitcoin trades for U.S. users. Prepare yourself for the next big rally in digital assets with these seven cryptos to buy before the bull market returns. Binance Pool, the crypto mining wing of the global crypto exchange, Binance, has unveiled a $500 million project to support BTC mining and infrastructure providers.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article https://forexreviewdaily.com/binance-coin/ and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

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Binance Сoin is a cryptocurrency designed by the eponymous cryptocurrency exchange. Based on the ERC-20 standard, Binance Coin was established with the Ethereum technologies. The Binance Coin market cap is one of the largest on the market and the largest among the ERC-based tokens with over 1,3 billion dollars at the time of writing this article. BNB was developed to become a trading tool on the Binance cryptocurrency exchange. BNB-based transactions are subsidized by the exchange making the coin more attractive to use within it.

Reports on the intersection of finance and technology, including cryptocurrencies, NFTs, virtual worlds and the money driving “Web3”. The majority of the BNB remained in the hacker’s digital wallet address, while about $100 million worth was “unrecovered,” the Binance spokesperson said by email. The attack prompted 26 of BNB Chain’s validators to act, preventing what could’ve been a $570 million hack, or the value of the 2 million BNB tokens that were fraudulently created, from being Forex siphoned out. Uncertainty over the Federal Reserve’s upcoming rate hike is keeping Bitcoin and altcoins under pressure. BTC price caught a bid, leading to a similar-sized boost in select altcoins, but on a macro level, $20,000 remains a strong overhead resistance. Legacy markets continue to negatively impact Bitcoin price, but a positive sign is that the bulls have not allowed BTC to retest its June low. Ethan Buchman announces Cosmos threatened by critical security vulnerability.

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The value of BNB sank more than 3% Friday morning to $285.36 a coin, according to CoinMarketCap data. It is the latest in a series of major hacks targeting cross-chain bridges, with instances of sloppy engineering making them a prime target for cybercriminals. These 6 deeply oversold cryptos are soaked in a blood bath of horrendous selling pressure, but that makes them ripe for speculative investors. WazirX is receiving a one-two punch of bad news today as it faces a money laundering probe and a very public spat with Binance. Bitcoin price witnesses a massive surge in volatility after the release of the Consumer Price Index on Thursday.

More About Bnb

However, in essence, it is similar to most other altcoins, in that it is subject to volatility and may be exchanged for other assets. Binance Coin has accomplished an applaudable milestone in the cryptocurrency space. On October 10, the decentralized digital exchange platform announced a partnership with Crypto Air Tickets.

Crypto.news is a leading name in the cryptocurrency news space, providing the latest and most relevant updates on Bitcoin, Ethereum, and Ripple ecosystems. Setting the industry standard in journalism, crypto.news covers a wide array of topics ranging from Bitcoin, Ethereum, altcoins, regulations, NFTs, DeFi, Metaverse, and blockchain technology. Crypto.news also offers an opportunity to earnfree Bitcointhrough a range of Bitcoin faucets. To stay updated with the latest inBitcoin News,Ethereum News,Ripple News, and all other developments in the digital assets industry, follow crypto.news. According to Slowmist, a blockchain security firm, over $570 million in digital assets, including Ethereum, Polygon, BNB Chain, Avalanche, Fantom, Arbitrum, and Optimism, were stolen as a result of the exploit. The hackers started to move funds to safer blockchains through bridges by switching tokens. The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies.

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These include supply and demand and supply and the number of transaction blocks generated in a quarter. BNB is a native token that powers the BNB Smart Chain, and it is used in the chain’s governance. Crypto Traders Lost About $327M in Liquidations Over the Past 24 Hours According to Coinglass, over the past 24 hours, total liquidations in the crypto market were $327.82M USD while 103,419 traders lost their positions. The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice.

Binance was quick to suspend transactions on the network once it was revealed that hackers had extracted 2 million BNB tokens worth US$572 million at the time from the cross-chain bridge, BSC token hub. About US$100 million actually made it off the network before the shutdown, and of that US$7 million was frozen. The network that supports two of the top ten cryptocurrencies by market capitalization was due to undergo the fork at around 4 p.m.