South Korean Crypto Exchange Is First to List Kakao’s Token
South Korean tech giant, Kakao, listed its Klaytn blockchain-issued Klay (KLAY) token via a local cryptocurrency exchange on June 5. This news follows their launch of a new crypto wallet feature in KakaoTalk earlier the week.
After registering over 100,000 users thanks to their new crypto-related features, Tech M reports that Kakao reached an agreement with Coinone to list its KLAY tokens. A Klay-South Korean won pairing is now live trading in one of the top four crypto exchanges in the country.
The move is significant for Kakao, considering that initial coin offerings, or ICOs, remain illegal in South Korea. This forced the company to list KLAY in Singapore and Indonesia-based branches of local exchange, Upbit.
Given Seoul’s stance on the cryptocurrencies market, many companies in the country have been seeking partners abroad to launch their tokens on exchanges.
Kakao previously launched its own blockchain platform, Klaytn. Due to circumstances that are still unclear, however, they were unable to expand the rewards-driven virtual asset-based services.
The internet giant’s plans to integrate the Klaytn wallet in its messenger app date back to March 2019. At the time, the CEO highlighted the potential within his then-40 million user pool. The app now boasts approximately 50 million users.
What is the exchange rate of USD (US Dollar) / CAD (Canadian Dollar) on Saturday June 6, 2020
Get the latest mid-market rate for USD (US Dollar) / CAD (Canadian Dollar) for Saturday June 6, 2020 right here.
The latest rates for USD (US Dollar) / CAD (Canadian Dollar) are available below. As a leading finance news site the team at Born2Invest collates and analyses the latest Forex Market data to bring you live information to help you make the right forex trading decisions.
Saturday June 6, 2020 1 USD (US Dollar) is worth 1.34335 of CAD (Canadian Dollar) .
Remember to always trade with a reputable broker. It’s also possible to apply forex concepts to cryptocurrency trading.
Forex trading is risky and complicated. There are countless pairs to choose from and it’s easy for a novice trader to become overwhelmed. Information is power and Born2Invest has curated some beginners forex trading tips to help you get started.
Currency pairs are the foundation of forex trading. Whenever you purchase one currency you sell another. Every pair has a base currency, in this example USD (US Dollar) and a quote currency, or CAD (Canadian Dollar).
A currency pair represents how much quote currency, or CAD (Canadian Dollar), that needs to be spent in order to purchase one unit of USD (US Dollar), the base currency. In the current example you would need to spend 1.34335 of CAD (Canadian Dollar) in order to purchase 1 USD (US Dollar).
Forex pairs fall into three categories; the majors, the commodity currencies, and the cross currencies:
Cryptocurrencies share many aspects with forex trading, namely the concept of currency pairs and high volatility but there are some key differences. Cryptocurrencies aren’t currencies persae, and are usually traded against Bitcoin, which takes the role of USD on many exchanges.
It is also difficult to trade cryptocurrency outside of exchanges and there is more security risk than trading with a registered broker. One way around this is to use a CFD broker which enable traders to purchase contractors for specific amounts of crypto, without directly owning it.
Malta Based Crypto Exchange OKEx Carries Out Largest Buy-Back And Burn
Malta-based cryptocurrency exchange, OKEx recently revealed the completion of its eighth and largest buy-back and burning of OKB tokens. The platform bought and burned more than 3.5 million tokens.
Almost every prominent cryptocurrency is under the spotlight now, while some have been in the good light, following several additions to their platform, a few others have been drowning in troubled waters. For instance, Coinbase’s recent meltdown during the rise in Bitcoin’s price has left many choosing alternatives to the exchange. Steering away from the controversial exchanges, Malta-based cryptocurrency exchange, OKEx recently revealed that its token, OKB had undergone its largest buyback as well as burn.
The issuer of the OKB token, OK Blockchain Foundation had previously rolled out the OKB buy-back and burn enterprise on 4 May 2019. However, the platform claims to carry out the initiative to “foster the sustainability of the OKB ecosystem and further the use cases for OKB” as opposed to meddling with the price of the token.
About a 3,509,874.52 OKB was bought back and burned from 1 March 2020 to 31 March 2020. The eighth buyback and burn of OKB tokens were touted to be largest as it recorded a $1 million surge from the last time. While a total of 20,671,583.58 OKB was burned the remaining OKB in circulation adds up to 279,328,416.42. All the OKB tokens were transferred into a black hole address to accomplish the process of burning.
The OKB token that stands at rank 33 was seen trading at $5.35, at the time of writing. The price of the coin seems to have had a slight nudge towards the upwards direction. However, in recent days, it seems to be moving mostly sideways.Advertisement
While the buy-back nor the burning of the OKB tokens seem to have had no significant effect on the token’s price, the exchange claims to have converted the OKB token into a complete deflationary token. Elaborating on the same, the platform stated that 700 million unissued OKB tokens were burned back in February 2020, precisely after the release of the OKChain testnet.
Claiming to be the world’s first fully circulating platform token, OKEx pointed out the benefits for holders of the token. The post read,
“In order to provide maximum benefits to OKB users, there has been a heavy focus on furthering partnerships and adoption of OKB not only on the OKEx platform but also with global ecological partners. The OKB ecosystem continues to expand, bringing advantages to OKB users in many new and exciting ways.”
Author: Published 13 hours ago
BetProtocol (BEPRO) Achieves Market Capitalization of $1.74 Million
BetProtocol (CURRENCY:BEPRO) traded up 2% against the dollar during the 1-day period ending at 7:00 AM E.T. on June 6th. One BetProtocol token can now be purchased for about $0.0010 or 0.00000010 BTC on cryptocurrency exchanges. BetProtocol has a total market cap of $1.74 million and $358,606.00 worth of BetProtocol was traded on exchanges in the last day. Over the last seven days, BetProtocol has traded 6.3% lower against the dollar.
Here’s how related cryptocurrencies have performed over the last day:
BetProtocol Token Profile
BetProtocol’s total supply is 10,000,000,000 tokens and its circulating supply is 1,825,000,000 tokens. BetProtocol’s official website is www.betprotocol.com. BetProtocol’s official message board is medium.com/@betprotocol.
BetProtocol Token Trading
BetProtocol can be bought or sold on these cryptocurrency exchanges: . It is usually not currently possible to purchase alternative cryptocurrencies such as BetProtocol directly using US dollars. Investors seeking to trade BetProtocol should first purchase Bitcoin or Ethereum using an exchange that deals in US dollars such as GDAX, Coinbase or Gemini. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase BetProtocol using one of the exchanges listed above.
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Author: James Nelson