Binance to Launch Korean Support Center Following Investment in Local Startup

Cryptocurrency exchange Binance has made its first direct investment in a South Korean startup. According to an exclusive report by CoinDesk Korea, Binance has taken a 500 million won ($432,000) stake in BxB, a Korean fintech firm that launched a Korean won stablecoin last year. Alongside the investment, the two firms have inked an agreement that will see BxB support Binance in operating a new support center for local users of Binance.com, the exchange’s international platform. The investment was made, not through the exchange’s incubator arm Binance Labs, but directly…

Bitcoin Holding $8K as Support but What Will it Take to Break $10K?

Bitcoin price (BTC) closed the week at $8,180 representing an 11% gain for the week after struggling to break the resistance at $7,600 for most of November and December. The price is down around 1% on Monday but the bulls have retained the $8K handle. Total market cap excluding Bitcoin was up 12.5% last week meaning that altcoins are starting to gain some market share from Bitcoin, which is impressive given BTC’s impressive week and counter to the general downtrend that has been in place since summer. Cryptocurrency market 24-hour…

Binance Coin (BNB) Price Bound To Surge Unless This Support Gives Way

Binance coin price started a downside correction from well above $15.00 against the USDT. BNB price is now approaching a strong buy zone, which is likely to stage another rally. Binance coin price is trading below the $15.00 and $14.80 pivot levels against the USDT. Bitcoin started a major downside correction and declined below $8,000. There is an ascending channel forming with support near $14.00 on the 4-hours chart of the BNB/USDT pair (data source from Binance). The price is likely to start another rally unless there is a close…

Ethereum Price Diving: Can Bulls Save This Key Support?

Ethereum extended its decline below the $140 support versus the US Dollar, while bitcoin dived below $8,000. ETH bulls must protect the $135 support to start a decent recovery. Ether price failed to recover and declined further below $140 against the US Dollar. The price is currently approaching the main $135 support and pivot area. There is a new connecting bearish trend line forming with resistance near $138 on the hourly chart of ETH/USD (data feed via Kraken). The pair could decline heavily if it fails to stay above the…

Binance Crypto Exchange Adds Support for Australian Dollars and Thai Baht

Major cryptocurrency exchange Binance added support for Australian dollars (AUD) and Thai baht. Binance announced support for the national currencies in separate releases on Jan. 7. Thai digital asset exchange Satang Corporation will process Thai baht transfers, while Australian dollar transfers will be facilitated by Banxa, a company specialized in internationally compliant fiat-to-crypto gateways.  Satang’s fiat processing service is integrated into Binance’s trading platform by means of a recently launched application programming interface that allows users to deposit and withdraw baht directly to their accounts. Satang CEO and co-founder Poramin…

Crypto Lending Firm BlockFi Adds Support for Litecoin and USD Coin

Major cryptocurrency lending company BlockFi has added support for two new assets to its list of supported digital currencies. According to a press release shared with Cointelegraph on Jan. 8, the firm has added major altcoin Litecoin (LTC) and USD Coin (USDC) — the dollar-backed stablecoin from major United States-based cryptocurrency exchange Coinbase.  The new additions mean that BlockFi users can now trade and receive loans as well as interest with the aforementioned cryptocurrencies. Clients can earn monthly compounding interest through the BlockFi Interest Account (BIA). USDC carries an annual…

Former Bakkt CEO Sworn Into Senate, Casts 1st Vote to Support Trump

Kelly Loeffler, former CEO at the Intercontinental Exchange (ICE)-backed crypto trading platform Bakkt, has been sworn into the United States Senate. In a Jan. 6 tweet, Loeffler announced that she was sworn into the U.S. Senate by Mike Pence, the Senate’s chief officer, to become Georgia’s newest Senator. Loeffler casts first vote to support Trump’s pickto lead the Small Business Administration In the announcement, Loeffler said that she had already cast her first vote to support U.S. President Donald Trump’s pick to lead the Small Business Administration, an autonomous U.S.…

Bitcoin Price Falls Below $7K But Bears Yet to Break Key Support Level

Today, Bitcoin (BTC) price abruptly dropped below the $7,100 support, declining 3.35% to rest near $6,900.  For the past few days, Bitcoin price traded between $7,300 and $7,100, testing the $7,100 and $7,050 support multiple times. Therefore, for many traders, it was no surprise when the price fell below $7,100 as frequent retests of support weaken it. BTC USD 6-hour chart. Source: TradingView It’s likely that traders anticipate a bounce at $6,800 and many will watch to see if the $7,100 support flips to a point of resistance. On the…

Bitcoin to Boom after Markets Run Out of Fed Support

The US central bank’s effort to expand its balance sheet through a pseudo-quantitative easing program could prompt bitcoin to pursue its next bull run. Since October, the Federal Reserve has been buying $60 billion worth of T-bills every month. Moreover, the organization is purchasing another $20 billion in MBS and TSY maturity investments, alongside tens of billions in overnight repos. That has led the Fed’s balance sheet to explode by over $400 billion in about four months. But that is still not quantitative easing (QE), according to an assertive Fed…

Binance Will Support Newly Announced Ethereum Muir Glacier Upgrade

Major cryptocurrency exchange Binance will suspend Ether (ETH) deposits and withdrawals to support the recently announced Ethereum network Muir Glacier upgrade. In a Dec. 30 blog post, Binance said that deposits and withdrawals will be suspended on the platform prior to the Ethereum network block height of 9,200,000 selected to execute the upgrade. Ether trading will not be affected While ETH trading will not be affected during the upgrade, deposits and withdrawals will be reopened once Binance deems the upgraded network to be stable. Binance noted that it will not…