Binance To Stop Serving US-Customers, Bitcoin Hits New Yearly High And Bitfinex’s LEO Token Spikes- The Crypto2Cash Chronicle
Today’s most interesting and market moving crypto and blockchain news, brought to you by the Crypto2Cash team.
Binance To Stop Serving US-Customers
After Binance announced they will be launching a US-dedicated plattform, the Malta based exchange also announced an update to their terms of use. The update includes geo-blocking of 29 countries including the US, meaning that users from the States will be unable to trade or deposit cryptocurrencies. The update will take place on September 12th and it is still unclear, when Binance US will be launching, meaning that their will be a period of time where Binance services will be completely unavailable. This also means that certain Alt-Coins will not be available for trading in the US, because Binance is the only exchange offering services for many tokens and coins. The coins in question often have lower volumes and could see price crashes as soon as trading stops.
Bitcoin Hits New Yearly High
Bitcoin has surpassed the psychologically important $9,000 mark over the weekend and has hit prices last seen back in May 2018. The largest cryptocurrency shortly spiked at $9,450 and has since then slightly retraced, currently trading at $9,277. Most Alt-Coins followed the price movement of Bitcoin and are in the green as well, with the likes of Ripple being up 4 percent on the day. Top performer once again was Bitcoin SV, up by 8 percent and now being the 8th largest cryptocurrency by market capitalization.
Bitfinex’s LEO Token Spikes
Contrary to the believe of many skeptics, Bitfinex’s LEO token has been performing very well. The coin recently spiked at almost $2, up 30 percent since launch. The coin was created to solve the exchange’s liquidity problems, after their payment provider froze almost all of their fiat holdings. The spike can almost certainly be linked to the fact, that OKEX, one of the largest crypto exchanges, listed the Coin. Investors still see the asset as very risky, as volumes are still very low, but it seems like traders are starting to gain confidence into the new coin.
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