Binance had a hiccup with its withdrawals for Ether (ETH) and all ERC-20 assets on Friday, with users being unable to access any of their Ethereum-based assets for about one hour. The pause came abruptly, as the exchange's Twitter account notified users that Binance had “temporarily suspended withdrawals of ETH and Ethereum-based tokens in order to address a congestion issue.” Binance reassured that “funds are SAFU,” but did not provide any further details. About one hour later, withdrawals were apparently restored but the exchange did not attempt to explain what prompted them to pause such a critical piece of its …

Binance Coin (BNB), a cryptocurrency issued by the world’s largest crypto exchange Binance, has hit a major historical milestone, becoming the third-largest coin by market capitalization for the first time in history. At the time of writing, BNB’s market cap stands at $38 billion, outstripping the biggest stablecoin Tether (USDT) by about $5 billion, according to data from crypto tracking source CoinGecko. Binance Coin is trading at $257, up 47% over the past 24 hours and skyrocketing 107% over the past seven days at publishing time. Alongside propelled growth in market capitalization, BNB also saw a major spike in daily …

As decentralized finance continues to increase it hold on the wider cryptocurrency market, Binance Smart Chain (BSC) is beginning to emerge as a suitable option for traders looking to escape from high transaction fees on the Ethereum (ETH) network. With more attention being paid to BSC, DeFi projects operating on the chain have also seen an influx of buying activity in recent weeks as token holders rush to supply liquidity for recently launched protocols. One such project is Venus (XVS), an algorithmic money market and synthetic stablecoin protocol designed specifically for the BSC. Data from Cointelegraph Markets and TradingView shows …

Binance Coin (BNB) has seen its second major rally in February, culminating in a new all-time high of $195 after the token price added over $80 in the last 24-hour trading period. Thursday’s 42% rally now means BNB is up more than four-fold in February alone with year-to-date gains above 413%. The current price rally has taken BNB to the fourth spot on the crypto market capitalization rankings according to CoinMarketCap. However, data from Coingecko still puts BNB in sixth place below both Polkadot (DOT) and Cardano (ADA). BNB’s current rally has also come amid another 24-hour trading record for …

PancakeSwap (CAKE) has emerged as a rising star in the decentralized finance (DeFi) sector with the recent surge in price helping the food-themed token become the first billion-dollar project on the Binance Smart Chain (BSC). Data from Cointelegraph Markets and Tradingview shows that the price of CAKE has risen 520% since reaching a low of $1.89 on Feb. 3 to establish a new all-time high of $11.12 on Feb. 17. This propelled its total market cap above $1 billion for the first time. As DeFi has grown in prominence with a majority of top projects currently operating on the Ethereum …

Keeping up with the latest trends in cryptocurrency is a must for projects that want to stay relevant and continue to gain market share. The hype is currently swirling around decentralized finance (DeFi) and nonfungible tokens (NFTs) — and IOST is one protocol that has been capitalizing on these growing movements to help expand its community. Data from Cointelegraph Markets and TradingView shows that the price of IOST, the 78th-ranked digital asset by market capitalization, has risen 650% since Jan. 8, from $0.0058 to $0.045 on Feb. 17, its highest level since June 2018. Three reasons for the strong price …

The price of Bitcoin (BTC) surpassed $50,000 for the first time in history across major futures exchanges, including Binance Futures. However, on spot exchanges, like Coinbase and Binance, the price of Bitcoin rejected closely below $50,000. Why more upside is likely On Feb. 16, the price of Bitcoin reached as high as $49,556 on Coinbase, marking its second attempt at breaking past the $50,000 resistance area. Shortly after hitting $49,556, BTC saw a steep pullback, declining by around 3.5% within several hours. CryptoQuant CEO Ki Young Ju explained that Bitcoin’s struggle to break past $50,000 is about “Coinbase whales (USD) …

In the last 24 hours, $1.89 billion worth of futures positions have been liquidated after Bitcoin (BTC) and Ether (ETH) sharply fell, with BTC reaching below $46,000 on Binance. Most of the liquidations came from Bitcoin and Ether, which accounted for $555 million and $336 million, respectively. But altcoins like XRP, EOS and Litecoin (LTC) also saw large liquidations as the market plummeted. The lion's share of the liquidations happened on Binance, while Bitfinex saw the least. This suggests that the former may have the biggest share of novice traders, according to Bitfinex chief technology officer Paolo Ardoino. "Bitfinex has …

Bitcoin’s (BTC) definitive breakout above $50,000 may have to wait longer to materialize as spot buying pressure on Coinbase Pro shows signs of weakening — at least in the short term. The Coinbase Premium Index, which measures the gap between BTC price on Coinbase Pro and Binance, has flipped negative, according to CryptoQuant. In other words, selling pressure on Coinbase appears to be strengthening compared with other exchanges like Binance. A negative reading on the Coinbase Premium Index could be a precursor to short-term resistance. On the other hand, when the premium is high, it indicates strong spot buying pressure …

Today, yield aggregator Harvest Finance and multi-service platform Value DeFi — two Ethereum-native decentralized finance (DeFi) protocols accounting for nearly a billion dollars in total value locked between them — announced planned expansions to Binance Smart Chain, the smart contract platform built by crypto exchange giant Binance. Not everyone in the Ethereum community is ready to take BSC seriously, however. Harvest, which is among the largest yield aggregators and currently boasts over 830 million in total value locked, said in a statement to Cointelegraph that the protocol is looking to hire two developers to bring Harvest to BSC. “At Harvest …

Finance Redefined is Cointelegraph's DeFi-centric newsletter, delivered to subscribers every Wednesday. It seems that this week, finally, the community has had enough of Ethereum’s gas fees. That is obviously a bit of hyperbole, as gas fees are high precisely because people are willing to pay such a premium for Ethereum block space. But we’re seeing a kind of “applied trickle-down economics,” where a few brave degens are venturing outside to see what else exists in the world. The effect has been particularly pronounced on Binance Smart Chain. The number of daily transactions has skyrocketed in the past few days, fueled …

Leading crypto asset exchange Binance was forced to suspend its spot and margin trading services just a few minutes after its CEO took to Twitter to boast the platform had smoothly handled new record highs for website traffic. Binance chief executive Changpeng Zhao, or CZ, tweeted the exchange had experienced a new all-time high for traffic on Feb.10, stating the platform had “handled the load” of a 60% increase in traffic on top of the previous day's record traffic. CZ also noted that new user sign-ups had tagged record highs: “New account registrations are still open, not sure for how …