Following HBTC, Huobi Global to launch the H-token series on Ethereum

Following HBTC, Huobi Global to launch the H-token series on Ethereum

LONDON, Sept. 13, 2020 /PRNewswire/ — Huobi Global announces today the H-token series – a suite of assets that are issued on Ethereum and backed by cryptocurrencies from other blockchains to bring more digital assets to the Ethereum DeFi ecosystem.

Simple Facts of H-Token Series 

In February 2020, Huobi Global launched HBTC, an Ethereum-based token that can be  1:1 exchanged for BTC. A design like HBTC, which aims to be the bridge between the centralized and decentralized finance, ensures that users do not lose the value of BTC while enjoying the flexibility of Ethereum. 

Today, approximately 5,000 HBTC has been minted, and these tokens enable users to seamlessly access decentralized protocols such as Uniswap, Curve, Balancer, Nest, and ForTube. In the near future, HBTC will also be used as DAI collateral on MakerDAO. HBTC’s growing use cases prove that its value has been recognized by the market. 

At today’s launch, Huobi Global will provide three H-tokens, including DOT, LTC, and BCH. The combined market cap of these assets has approximated $1.1 billion and they are welcomed by crypto enthusiasts around the world. 

The issuance of the H-series assets will allow more users in the crypto world to benefit from DeFi, accelerate the development of the Ethereum DeFi ecosystem, and promote the growth of Ethereum-based assets. As a bridge between centralization and decentralization, Huobi aims to make assets freer and allow hundreds of millions of people around the world to truly benefit from the development of DeFi.

“Huobi, as a bridge between the centralized and decentralized world, aims to liberate the wealth of the world. We hope to grow together with the Ethereum community, empower community projects, and actively embrace an open ecosystem,” said Huobi CIO and head of Huobi DeFi Labs Sharlyn Wu. “Huobi’s mission in DeFi is to provide the community with more high-quality assets, to make DeFi more inclusive, to make the global financial system better, and to realize the vision of enabling hundreds of millions of people around the world to truly benefit from the development of DeFi.” Huobi DeFi Labs is an incubator backed by Huobi to support the DeFi ecosystem.

Media contact: 

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SOURCE Huobi Global

Source: news.yahoo.com


Ethereum Reaches a “Do or Die” Level as It Flips Key $400 Resistance

Ethereum Reaches a “Do or Die” Level as It Flips Key $400 Resistance

Ethereum has firmly surmounted its $400 for the first time in a few weeks, with buyers now attempting flip this level into support.

The crypto’s latest upswing has allowed it to outperform both Bitcoin and most other major altcoins significantly

Analysts are widely noting that the cryptocurrency is reaching a decision point, with its near-term trend likely being determined by how it reacts to the resistance that sits at $405.

That being said, a support-resistance flip of $380 could be enough to send it flying significantly higher, with one analyst noting that this could lead to an influx of buying pressure.

At the time of writing, Ethereum is trading up roughly 2% at its current price of $403. This is around the upper boundary of the trading range that the crypto has been caught within in recent weeks.

It is important to note that while the cryptocurrency has struggled to gain a foothold above $400 on multiple occasions in recent weeks, the strong reaction to its $380 support level seems to have reinvigorated ETH’s bulls.

One analyst is now noting that he is closely watching for $400 to be confirmed as support, as a flip of this level from resistance to support could be all that it needs to see significantly further upwards momentum.

“ETH / USD: Seems as though our support level at $380 was once again supported and buyers continue to step in heavily, even though we did bounce back above $400 for a brief minute, $400 still is acting as resistance for now… Expecting pullback to $390 then S/R flip at $400,” he noted.

Ethereum

Image Courtesy of Cactus. Chart via TradingView.

Another analyst explained that $405 is a significant near-term resistance level for Ethereum.

He believes that a failure for it to surmount this level could cause it to see some significant near-term downside, potentially guiding it as low as $320.

“Good movement on ETH right up into $405. Somewhere around here is the major decision point for me. Narrative based but I don’t particularly like that this move has been pulled at the weekend, fits into my bias,” he explained.

Image Courtesy of Cold Blooded Shiller. Chart via TradingView.

Because of the critical nature of this level, how Ethereum trades in the coming few hours are vital for understanding its mid-term outlook.

Source: www.captaingeek.net


Ethereum Reaches a “Do or Die” Level as It Flips Key $400 Resistance

Binance CEO wants more Ethereum-based DeFi projects to join his platform

September 13, 20200 Comments

Binance CEO Changpeng Zhao welcomed more Ethereum-based DeFi projects to join the Binance Smart Chain (BSC) platform. 

In a tweet discussion with another user, Zhao explained that this step would reduce the load on the Ethereum network, which will, in turn, lead to a reduction in Ethereum’s gas fees. 

Zhao later stressed that Binance Smart Chain is not a replacement or competitor to the Ethereum network and that it is compatible with it. Zhao added that Binance Smart Chain provides the smart contract creators with more options:

“BSC never aimed to replace ETH, BSC is just ETH-compatible. Smart projects are giving their users more options. Option for cheaper fees.”

Zhao concluded his comments by revealing that his Binance Smart Chain transaction volume recently reached 10% of Ethereum’s network a few days ago.

Binance launched the Binance Smart Chain platform on September 1, and its CEO announced the launch of a $ 100 million investment fund devoted to projects building on the Smart Chain a few days ago.

Meanwhile, in a separate tweet, Zhao talked about Binance’s decision to add the latest DeFi projects even as the company took flack for listing SushiSwap. Binance Smart Chain now hosts BurgerSwap, the latest DeFi project that saw a large number of transactions in just 24 hours. 

“In the past, I have generally tried not to comment on specific projects or coins. Going forward, I will be tweeting more about projects on #BinanceSmartChain. They are not endorsements. Rather just a way to promote the community,” Zhao said. 

What cryptocurrency will become the main one in a year?
BitcoinEthereum

He added that most DeFi projects fail but also noted:

“Some may offer short term gains, but they come with super high risks too. Don’t invest money that you can’t lose.”

Source: cryptocurrencynow.ca

Author: by admin


YFL Price aims to hit $700?

YFL Price aims to hit $700?

The YF LINK or YFL token was launched on August the 7th and it combines the LINK token with the avidly popular YFI liquidity mining mechanics. Now, the YFL price is showing strong growth in the past 24 hours. At the time of writing this article, the YFL price is sitting at $607.04 and its price has been increased by almost +13.56% in the last 24 hrs. On the other hand, the YFL price against USDT is sitting at 595 USDT. Let’s take a look at it in more detail.

How To Start Yield Farming On Binance?

Now, at the moment if we closely observe the YFL/USDT 1D chart, then we will find that from the past 30 days the YF Link price has been decreased by almost 11% but in the last 24 hrs it is again showing bullish momentum and now the crucial resistance could be at 695.321. This could indicate that the YF Link price is aiming to touch $700 and it could easily do so. The market capitalization of YF Link is $29,229,074.89 and at the time of writing this, the 24 hr trading volume is sitting at $3,242,041. The key metrics are as follows:

  • Price $607.04
  • 24hr Change +13.56%
  • 24hr Vol $3,242,041
  • 1Hr Low / 1Hr High $582.24 / $635.09
  • Ripple Price Forecast – Will XRP Fall Under $0.20?

    Considering how significant this 24 hr price increase is, it’s difficult to accurately determine where the next stop for YF Link is, however, looking at the chart, we can more or less think about $700 first which would create a significant psychological level.

    The most important red flags for the bulls in the short-term could be to dissipate the 12-EMA, accompanied by a clear decline of the 26-EMA and bearish correction. As long as the bulls can keep one of these 2 EMAs, they could be at no risk. Now, if we closely look at the hourly chart then we will find that Bill William’s 3 lines or the Alligator Technical Indicator are not intertwined. This could indicate that the lines are not going to sleep. So, this could once again push for price growth but the YFL price must touch the $700 mark first.

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    Following HBTC, Huobi Global to launch the H-token series on Ethereum


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