Binance Would Not List Bitcoin Today for Non-Compliance with Terms

If Bitcoin was to apply for listing on Binance, the world’s largest cryptocurrency exchange by means of traded volume, it would get rejected for non-compliance with its listing terms.


‘No’ to Bitcoin

A fairly controversial but rather interesting point was made by WhalePanda, the popular user within the cryptocurrency community. He outlined that if Bitcoin was to apply for a listing on Binance today, it would have to be rejected due to non-compliance with the exchange’s listing terms.

Ironically, the market’s first and foremost cryptocurrency, Bitcoin, wouldn’t be eligible for listing on Binance for the very same reason that triggered its success: lack of central authority.

While arguments can and have been made that Bitcoin is already listed on the cryptocurrency exchange, the point is clear – Binance seeks a form of centralization as a listing criterion.

Needless to say, the tweet sparked a debate, where some people argue that a representative is only needed as a point of contact in cases of trouble. However, the fact of the matter is that truly decentralized projects, much like Bitcoin, don’t have representatives as that’s their main purpose. Establishing a single point of contact, regardless of whether it’s an individual or a group of people, would suggest that they are vested with certain authorities which conflict with the principles of decentralization.

‘There Is No True Decentralization’

Earlier in July, Zhao Changpeng, CEO of Binance, said that there is “no true decentralization” and that if there is a core team behind a cryptocurrency, this represents some form of centralization.

His comments were triggered by the words of Ethereum’s co-founder, Vitalik Buterin, who openly said:

I definitely hope centralized exchanges go burn in hell as much as possible.

Listing a digital asset on the world’s largest cryptocurrency exchange has been a hot topic for quite some time now. Earlier in August, Christopher Franko, the co-founder of a blockchain-based platform called Expanse, revealed that Binance requested 400 BTC for listing the platform. The cryptocurrency exchange quickly denied the claims, claiming that the email Franko cited was “spoofed.”

Franko went on to outline a few reasons the email is entirely genuine:

Do you think Binance’s listing policy is on the right track? Don’t hesitate to let us know in the comments below!


Images courtesy of Shutterstock, Twitter/@WhalePanda, and Twitter/@FrankoCurrency.

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Ripple Price Analysis: Sell XRP/USD On Rallies Near $0.3350

Key HighlightsRipple price started a downside move from the $0.3550 swing high against the US dollar.There was a break below a crucial bullish trend line with support at $0.3375 on the hourly chart of the XRP/USD pair (data source from Kraken).The pair tested the $0.3120 support and it is currently at a risk of more losses below $0.3100.Ripple price declined below key supports against the US Dollar and Bitcoin. XRP/USD could correct higher, but it will most likely face sellers near $0.3350.Ripple Price ResistanceAfter trading a few points above the $0.3500, Ripple price faced sellers against the US Dollar. The XRP/USD pair formed a short-term top near the $0.3533 and later it started a downside move. The price declined and broke the $0.3400 and $0.3300 support levels. There was also a close below the $0.3350 level and the 100 hourly simple moving average.During the decline, there was a break below a crucial bullish trend line with support at $0.3375 on the hourly chart of the XRP/USD pair. A fresh intraday low was formed at $0.3120 before the price found support. It is currently correcting higher and is trading near the $0.3200 level. An initial resistance is the 23.6% Fib retracement level of the last major decline from the $0.3533 high to $0.3120 low. However, the most important resistance is near $0.3350 and the 100 hourly SMA. Moreover, the 50% Fib retracement level of the last major decline from the $0.3533 high to $0.3120 low is also near $0.3325 to act as a resistance.Ripple Price Analysis XRP USDLooking at the chart, ripple could correct higher towards $0.3300 and $0.3350, but it is likely to face sellers. On the downside, a break below $0.3120 might take the price towards $0.3000.Looking at the technical indicators:Hourly MACD – The MACD for XRP/USD is moving heavily in the bearish zone.Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now well below the 50 level.Major Support Level – $0.3000Major Resistance Level – $0.3350

Huobi Launches New Service to Streamline Token Listing Application Process

Singapore-based cryptocurrency exchange Huobi Group has launched a new product designed to streamline the token listing application process.

According to a statement shared with Cointelegraph, the new service, which Huobi developed to provide a more transparent listing process, is called the Huobi Automated Listing Platform.

Per the announcement, projects that want to list on Huobi Global or an autonomous digital asset exchange Huobi HADAX, will have to register and submit specific documentation about the project. The announcement states that the Huobi Automated Listing Platform “will not automatically list any token or coin that applies.”

Upon passing the verification process, applicants will receive a unique login account, which provides access to submit, edit, amend, and review documents and status of the token listing.

Projects that fail to pass the verification will be provided with a reminder notification of re-application to HADAX 2.0 and assistance in registering on the newly launched platform. Projects that decide to re-apply will have to follow specific application and listing rules.

The announcement also states that later this year, Huobi is looking to launch the Huobi Blockchain Project Show Center within the Huobi Automated Listing Platform, which will provide users access to reports, videos, and live broadcasts.

In July, Huobi Group launched Huobi Cloud, which allows users to build over-the-counter (OTC) and digital asset exchanges on top of Huobi’s existing platform. Partners will also be able to use the order integration and wallet systems, as well as the asset management and clearing system of the Huobi Global platform.

That same month, HBUS, the U.S. “strategic partner” of Huobi, confirmed the release of its API for “experienced traders” in some U.S. states. The product was geared to high-volume users who required live pricing data and other tools. In addition to price tracking, the API also offers historical price data, support for margin trade customization support, setting buy and sell limits, and retrieving trade history.

AltcoinToday.com

Photo via Shutterstock.

Source: Cointelegraph

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