In response to customer demand, leading cryptocurrency exchange Binance launched trading support for the community-led Steem (STEEM) hard fork Hive (HIVE) on April 27. HIVE can now be traded against Bitcoin (BTC), Tether (USDT), and Binance Coin (BNB), however, withdrawals and deposits will not go live until April 29. While Huobi’s recently introduced support for HIVE skyrocketed the token’s price over 600% in three days, Binance’s announcement appears to have resulted in a bearish pull-back — with HIVE dropping 20% from $0.95 to $0.75 over the past 11 hours. Binance lists HIVE after voting controversy The announcement comes the month …

Six months after the beta test launch, China’s Blockchain-based Service Network — or BSN — is now officially available for global commercial use. Various Chinese government officials and heads of organizations gathered for a meeting in Beijing on April 25 where they announced the public launch of the BSN. The BSN is a global infrastructure to help blockchain projects create and run new blockchain applications for a lower cost. It also aims to accelerate the development of smart cities and the digital economy. China Mobile, China UnionPay, and Huobi China together worked towards the creation of the BSN. Off to …

The price of Hive (HIVE), a hard-fork of Steem (STEEM), has skyrocketed following its listing on Huobi. The listing comes one month after Huobi and Binance mobilized customer funds to vote against the Steem community in favor of an apparent hostile takeover of the network, led by Tron founder and recent owner of Steemit, Justin Sun. However, the exchanges claimed that Sun had misrepresented the nature of the event that they were voting on, and quickly withdrew the votes. Shortly after, Huobi announced it would be distributing HIVE tokens to STEEM holders after the hard fork. Huobi listing sparks HIVE …

Since the inception of Bitcoin, volatility has been a part of the cryptocurrency narrative even before exchanges and the current mainstream mentions. Now that traditional markets are showing volatility further exacerbated than anti-fragile cryptocurrency during the coronavirus pandemic, the community is seeing how traditional marketplaces like the New York Stock Exchange handle equity and commodity volatility through circuit breaker implementation. In cryptocurrency and decentralized finance, liquidation auctions have been the answer for periods of market turbulence. The prominence of the traditional marketplaces triggering the circuit breakers has led some cryptocurrency exchanges to implement similar measures. So as the community debates …

A study by TokenInsight indicates that the total futures trading volume in the crypto industry reached over $2.1 trillion in Q1 2020. This is an increase of 314% from the 2019 Q4 average. According to the “2020 Q1 Cryptocurrency Derivatives Exchange Industry Report”, except for a slight decline in Q4 2019, the trading volume of cryptocurrency futures grew in 2019. The total market turnover in Q1 2020 is roughly eight times than Q1 2019. For trading volume analysis, TokenInsight included BitMEX, OKEx, Huobi DM, Binance Futures, Deribit, Bitget, Binance JEX, FTX, Gate.io, BFX.NU, BitZ, and KuMEX, in addition to some …

Today, April 20, Huobi has reportedly minted some 4,200,000 HUSD worth $4.2 million. According to data published by Whale Alert, this minting occurred around 7:30 GMT. Social media reactions saw users note this number’s similarities to today’s date — the 20th day of the fourth month. HUSD has been mostly inactive since launch The stablecoin has not seen much trading volume since its launch in 2018, but it was reactivated on February 7 of this year, and we’ve seen some minting movements from Huobi since then. Huobi minted around 2,013,945 HUSD on that day. It minted around 1,950,000 HUSD the …

Blockchain and cryptocurrency venture capital firm Multicoin Capital has led a $1.5 million seed round for Chinese decentralized finance (DeFi) protocol dForce. Mable Jiang, the principal of crypto venture capital firm Multicoin Capital, told Cointelegraph that dForce’s plan to launch a "super-app"-styled DeFi platform in the Asian market was a major factor in the firm’s decision. An Asian super app like WeChat Jiang emphasized dForce’s presence within the Asian and Chinese markets as a draw, stating, “We always believed that Asia, and more specifically China, will become a pivotal market for the adoption of Open Finance.” She said that dForce's …

Per an April 13 announcement, Huobi (HT) Global has launched Star Atlas, an on-chain analytics tool to monitor illicit cryptocurrency transactions that could work in tandem with similar tools. Past criticism The tool should help Huobi address some of the past criticism it had received. Chainalysis’ 2020 State of Crypto Crime Report stated: “Binance and Huobi lead all exchanges in illicit Bitcoin received by a significant margin.” Ciara Sun, VP of global business at Huobi Group, explained the functionality of the new tool to Cointelegraph: “Star Atlas is an on-chain monitoring tool to monitor cryptocurrency transactions to identify and detect …

Major Steem stakeholder Dan Hensley has levied heavy accusations at TRON founder and CEO Justin Sun. According to Hensley’s April 8 writeup, Sun “bribed” his way to the top of the Steem hierarchy with “money, power and users.” As Cointelegraph reported in early March, Steem was the subject of what many supporters deemed a hostile takeover by Justin Sun. Hensley’s latest allegations shed new light on how the TRON founder allegedly influenced prominent Steemians into doing his bidding. A TRON representative declined to comment on this story. In a conversation with Cointelegraph, Hensley described Sun’s intention to circumvent established community …

In the war against the novel coronavirus, cryptocurrencies are emerging as a much-needed tool for charity and fundraising projects. Already there are a number of large nonprofits accepting Bitcoin donations. Plus, some blockchain and crypto firms are contributing medical supplies to hospitals in an attempt to curb the virus, while others are setting up fundraisers and charities that are aimed at helping its victims. As a number of nonprofits continue to accept cryptocurrency donations, they are starting to realize that crypto transactions significantly reduce costs in terms of fees. Here are a number of charities and fundraisers that accept donations …

CryptoCompare has published its monthly report analyzing the trade activity on crypto exchanges. The record-breaking crash of March 12 and 13 drove new all-time volume highs in both the spot and derivatives markets. March 13 sets record for daily spot trades The report states that March 13 produced the single greatest volume in the history of crypto assets — with all exchanges and markets producing $75.9 billion in trade activity over 24 hours. $54.3 billion of 71.5% of trades came from ‘Lower Tier’ exchanges, while ‘Top Tier’ exchanges generated $21.6 billion in volume. Despite Binance and OKEx representing the largest …

Huobi’s charity arm has announced an initiative to distribute aid to assist Indonesia’s fight against COVID-19. Huobi Charity will distribute aid in partnership with the Indonesia-China Association of Economic, Social and Cultural Cooperation (ICAESCC) to make monetary contributions, donate medical supplies, and leverage blockchain technology to assist healthcare organizations. Huobi launches coronavirus charity initiative in Indonesia To provide immediate relief, Huobi Charity will donate roughly $50,000 in Huobi Token (HT) to ICAESCC for the purchase of medical supplies for hospitals. Ciara Sun, Huobi Group’s vice president of global business, emphasized that the coronavirus pandemic is impacting “everyone in every corner …