Recently, the Bitcoin Standard Hashrate Token aka BTCST token, launched on Binance Smart Chain (BSC) on December 13, 2020 created a lot of buzz among crypto miners. Over the past week, “hashrate tokens”, which collateralize proof of work (PoW) hashpower have come to life as two of the largest mining pools –Binance and Poolin – lead the way. In this article, we focus on Binance Pool’s hashpower token,  

The magnanimous surge in Bitcoin’s price to $41,000 gave rise to a mining craze as the blockchain’s hashrate hit all-time highs on January 18, 2021.  The mining demand has seen new innovations sprout in the crypto space as miners try to increase their profits and keep up with the raging bull market. 

The Bitcoin Standard Hashrate Token, abbreviated BTCST , is a collateralized token by Bitcoin’s hashrate, each token representing 0.1TH/s of actual Bitcoin mining power to an efficiency of 60 W/TH. Miners contribute mining power on the platform in exchange for newly minted BTCST tokens. 

The BTCST token aims at bringing liquidity to Bitcoin’s mining market, which allows anyone to have exposure to mining rewards and hashpower of any size at a low cost. The app brings liquidity and efficiency to mining power markets in a similar manner that Grayscale’s GBTC share brings liquidity to institutional investors wanting to invest in Bitcoin. 

Additionally, “those without mining power tokenized by BTCST to hedge against the risks of mining machine cost price fluctuations,” a post from Binance reads. 

BTCST token holders can also choose to stake their coins in order to receive daily distributions of Bitcoin mining rewards in proportion to the amount staked. 

BTCST Token launched in December 2020 with an initial token supply of 1,000,000 BTCST tokens. According to a Binance blog post, 4% of the initial circulating supply will be allocated to the Binance Launchpool and the rest will be allocated to the initial tokenizing miner. 

NB: BTCST token can only be issued when eligible miners choose to standardize and tokenize Bitcoin hashrate. Therefore, the project has not and will not host public or private sale events.

The total supply cap of BTCST is determined by the total BTCST tokens staked on the app. As assets under management increase, the 1,000,000 initial supply will increase accordingly but any newly minted token will be subject to a 25-week weekly linear vesting schedule.

The BTCST token was first traded on the secondary market on Binance exchange – trading against USDT – at a launch price of $74.86. The coin has since dropped to $65.03 as of writing, representing a 13% decrease from launch price. The highest BTCST price recorded is $103.33, as reported by Coingecko. 

As of January 20 th , a total of 64,011 BTCST tokens are staked on the platform, a hashrate equivalent of 6,401 TH/s. 

Binance is however not the only mining pool launching its own hashrate token. Poolin, the second largest Bitcoin mining pool, also announced the launch of its own hashcoin, pBTC35A, an ERC20 token anchoring 1TH/s of Poolin hashing power at 35 joules per TH. 

A total of 50,000 pBTC35A tokens were released by Pooling, representing 50,000 TH/s of computing power from the newest ASIC miners in Poolin’s facilities. 

The two coins aim to battle it out in this new trend – adding to the liquidity and efficiency they bring to Bitcoin’s mining business. So far, Poolin’s hashcoin seems to have an edge over Binance’s BTCST Token in that it supports decentralized finance (DeFi) through its recently launched Mars protocol. 

As is common in the cryptocurrency market, the launch price of a token is often different to the efficient market price of the token. Such is the case with BTCST price, which is heavily overvalued at current prices of $65, according to some Bitcoin analysts. 

In a tweet sent out on January 13, shortly after BTCST listing on Binance, Wu Blockchain, a Chinese Bitcoin mining analyst, claims BTCST token is highly priced at $73 (price at the time). Currently trading at $65 and each BTCST token anchoring 0.1TH/s, an equivalent price of $650/TH/s is derived of 60W/TH. 

— Wu Blockchain (@WuBlockchain) January 13, 2021

The most expensive Bitcoin mining device, the Antminer S19 PRO from Bitmain currently charges $80/TH/s, showing a huge disparity from BTCST mining. This could lead to the price of BTCST falling to “normal” levels across the year, as miners and users find the optimal price for the token, Wu said. 

“It is expected that BTCST will return to a relatively normal price in the future. The current price is seriously inflated.”

One user however argues that the mining rig cost only affects a small part of the general cost of mining hence the inflated BTCST price. According to the user, BTCST tokens act more like bonds giving holders an opportunity to earn future cash flows from it. 

— Sir Dotler Ethington (@DotGoDdotEth) January 13, 2021

The price is definitely a crucial point to focus on when analyzing these hashrate tokens, more so as it affects the overall distribution of the tokens. 

— Leo ⛏ (@Leorzhang) January 13, 2021

A spike in BTCST price during bull markets could see miners refuse to sell their tokens, reducing the supply further while in times of a bearish market there would be a barrier for holders to sell. 

Also Read: Bull Run Boosts Hashrate Token Craze, Binance Hashcoin [BTCST] And Poolin Tokens Selling at Inflated Rates

As alluded to, BTCST token brings together the qualities of staking and the proof-of-work consensus mechanism through its platform. Below we discuss how you can earn, buy and stake BTCST token. 

During the Launchpool period, users who staked their Binance Coin (BNB), Bitcoin (BTC) or Binance USD (BUSD) tokens in the pool earned BTCST tokens. Here is the guide on how to start staking.

At the moment, BTCST price is still greatly overvalued and we may be headed to an “inventory flash” according to Leo Zhang, Founder of Anicca Research. Mining cycles usually come in four archetypical stages, majorly affected by the price change rate of BTC and hashrate change rate. 

With the price of the most expensive miner costing $80/T, Colin Wu expects the price of hashpower tokens, specifically BTCST to drop to “normal” ranges in future. 

“It is expected that BTCST will return to a relatively normal price in the future,” Wu said. “The current price is seriously inflated.”

Seeing the growth in mining and price of cryptocurrencies, the two hashpower tokens are set to be followed by a multitude of other projects in future. However, there is a likelihood that the prices will be inflated as the market rushes to get a piece of the hashing power tokens.

BTCST token is built on Binance Smart Chain collateralized by 0.1 TH/s of real-world Bitcoin mining power.

An initial token supply of 1,000,000 BTCST tokens were launched. The total circulating supply will include mining rewards a top the initial token supply. 

Yes. BTCST has passed the scrutiny of CertiK, one of the world’s leading blockchain security firms, scoring a 98 out of 100 in a security audit.

67 6 days ago (edited) 18 Min Read 3615 Words On October 12th, our WLEO-ETH liquidity pool was attacked by a known Ethereum-based attacker. We linked the attacking address to a ring of other addresses which pulled off similar attacks (and others). This address continues to launder hundreds of stolen ETH per day through Binance despite widespread reporting and message boards asking Binance to investigate and block this address and its associated ring of accounts. On that date, our pool had reached $450k USD in total liquidity. It was an incredible rise as we blew past any expectations that we had set prior to the launch of Wrapped LEO. If you want to learn more about the WLEO liqudity pool attack, how it happened, our investigation into the issues/attacker and more, please read the WLEO Attack Whitepaper we published. Wrapped LEO is Officially Relaunching on November 12th Around 8 AM CST We've talked about this numerous times and many in the community already have a firm grasp of why WLEO is so vital for us. Hive-Engine is a niche exchange within a niche blockchain. There are plenty of Hive users who don't understand what Hive-Engine is or how to use it and that speaks volumes (pun intended) to the liquidity issues and user-friendliness of the second layer on Hive. An effort is being made to either deliver on SMTs or a decentralized version of Hive-Engine. Regardless of the outcome, our community has grown far beyond the capabilities of Hive-Engine in its current form and we need to branch out to other platforms for a variety of reasons. For the past few months, we've built our own UI from the ground up and subsequently launched a number of onboarding updates to make it easier than ever to sign up to LeoFinance (and Hive). With all of these efforts, outside attention has become increasingly important. LeoFinance is an attention-based platform. We need more users and our goal has always been to onboard the masses to our platform and the Hive blockchain. Wrapped LEO brings about a number of benefits that bring our economy to greater heights: Before the attack on wLEO V1, we were in talks with a major CEX to list WLEO to bring a whole new group of investors and users to our platform. That obviously had to take a backseat as we investigated and solved the issues that led to the attack. Additionally, we were working with a few different ETH-based projects on various forms of collaboration to cross-pollinate the LeoFinance user base with their user bases. Collaboration is the key to growth. We're working overtime to deliver on the best onboarding experience the Hive blockchain has ever had. You can sign up to LeoFinance.io in less than 30 seconds using a Metamask wallet and soon, you'll be able to do the same with other blockchain-based wallets in addition to major web2 apps: Twitter, Google and Facebook. These integrations, however, are useless without marketing, collaboration and eyeballs. Our goal has always been to bring a new wave of attention and development to our project and the entire Hive ecosystem. I think we've done a great job in delivering on this so far, but we still have much work to do. Wrapped LEO is a necessary component in the vision we have moving forward as we aim to onboard thousands, tens of thousands and hundreds of thousands of new users. Join, Create and Earn Crypto on LeoFinance.io The relaunch of Wrapped LEO will bring an exponentially greater level of security to the ecosystem. In this post, we'll cover the 4 most important measures that we've taken to ensure a highly secure, robust and future-proof version of WLEO that we can leverage for the benefits we discussed in the previous section. Under the previous model, Wrapped LEO operated with a mint & burn token distribution. When a user wrapped LEO into WLEO, they were issued brand new WLEO tokens from the minting contract. The attack on WLEO1 was an attack on this minting function. The hacker was able to mint unlimited WLEO because they gained access to the minting new token functionality. This allowed them to take that falsely minted WLEO and swap it into the Uniswap pool to get ETH. With WLEO2, we've introduced a max token supply model which utilizes a send/receive model. This is more in-line with how other crypto tokens function. Having a max supply gives us a lot of advantages. In terms of security, it vastly reduces risk since new tokens cannot be accessed in any way, shape or form. It makes the attack that happened previously entirely impossible (since new tokens cannot be minted using the contract address). It also minimizes any damage if a different attack happened in the future (more on this in the Cold Storage section of this post). Other advantages - which we may explore in a separate post later on - are around partnerships, exchange listings and data aggregators. You may remember that WLEO1 had issues with data aggregators and how they displayed relevant info about our token. This was largely due to the infinite supply. The final advantage I'll mention here is around new token hodlers and their desire to become a liquidity provider (people outside of the Hive ecosystem). We drummed up a lot of attention for Wrapped LEO both within the Hive ecosystem and within the Ethereum eocsystem. Many of these new potential users/investors had concerns over the "infinite" supply of WLEO - under the mint/burn model. No More Minting As you can see in the above screenshot, WLEO has a max supply of 10,000,000 (10M) tokens. This new model with a limited token supply will cover these concerns along with bringing much needed security and usability. To prove that no other tokens can be minted, we utilized the contract address to try and mint more tokens above 10M. This essentially simulates the attack that happened on WLEO V1 - since the attacker gained access to the contract key and then minted WLEOs to their account - when trying to mint 1 WLEO under the new contract, we got this error: View this minting TX error on Etherscan No more tokens can be minted from the contract. Now, the security relies on a cold/hot wallet management system (more on that below). The 10M token number was chosen for a number of reasons. The current circulating supply of native LEO is ~6M tokens. If you include the dev stake/bounty fund (which are minted slowly on the Hive blockchain over the course of several years), then we're right around 9M-10M tokens. This coupled with the inflationary aspect of LEO means that our token supply will likely reach 10M in about 1.5-2 years. Having a max supply of 10M WLEO means that 10M LEO can be wrapped. No more than that can ever be wrapped (under this version of WLEO). We can expect that a significant amount of this supply will remain staked on the Hive blockchain thanks to curation rewards and a variety of other reasons. The interesting dynamics between curation (staking) APY and liquidity providing (LP) APY will also take effect. The more LEO that gets wrapped, the less competition for curation rewards. This will create a dynamic relationship between the amount of LEO that gets wrapped versus the amount of LEO that stays staked on the Hive blockchain. We will likely never utilize the full 10M WLEO. Which leads us into the next two sections about where the WLEO is being stored and why we took such significant measures to put these in place. In order to operate the Wrap/Unwrap oracle aspect of WLEO (allowing users to Wrap LEO into WLEO and unwrap WLEO back into native LEO), we need to have a hot wallet. Under the old model of WLEO, the hot wallet was actually the minting address. This means that when a user wrapped tokens, they were issued tokens utilizing the private key of this minting address. The attacker exposed the greatest flaw in this system and took control of this minting address which allowed them to mint unlimited WLEO. In exploring new models for WLEO and investigating other aspects of security measures, we took notes from the largest exchanges in the crypto space. The way they operate is by utilizing hot wallets which carry enough funds to handle day-to-day transactions. They then store the majority of user funds in cold wallets to avoid attacks. When an exchange gets hacked, they usually get their hot wallet hacked while their cold wallet remains secure. This means that the majority of funds are still securely stored even though a major hack has taken place. With our new model, a hot wallet has been created which will hold just enough WLEO to conduct day-to-day transactions. There are currently about 1.2M LEOs liquid on the Hive blockchain. The WLEO hot wallet currently holds 1M WLEO which we predict will be enough for launch day and likely a few days/weeks afterwards. Once this balance starts to get low, it will be refilled with a small amount of WLEOs to continue servicing wraps by an offline cold wallet token transaction. current balance in the WLEO hot wallet When a user wraps LEO into WLEO, they'll send their LEO to our oracle account on the Hive blockchain and they will receive WLEO from our hot wallet on the ETH blockchain. When a user unwraps WLEO into LEO, they'll send their WLEO to our cold wallet on Ethereum and receive LEO from out hot wallet (oracle) account on the Hive blockchain. While many other security measures have been put in place to avoid attacks on the hot wallet altogether, the hot/cold storage dynamic is one of the most vital aspects of this new version. With this dynamic in place, an attack event would have a minimal impact on the WLEO economy. This caps the amount of damage that can be caused by a security breach. An additional measure was taken to protect against double spends (WLEO unwraps are sent to our cold wallet instead of the hot wallet). Again, as the funds in the hot wallet run low, an offline TX will be created to refill the wallet with an operating amount of WLEOs. A small amount of WLEO will be held in the hot wallet to conduct day-to-day operations. The rest of the WLEO supply will be held in deep cold storage which will only be accessed when the hot wallet needs to be loaded with more WLEO. This means that the cold wallet will actually never be used for online transactions. All of the actions of the cold wallet happen offline. The following diagram depicts the important relationship between cold and hot wallets as it relates to exchanges and how they operate (which also now applies to Wrapped LEO and how it operates): img source Going based on the previous WLEO numbers, we expect around 600k-900k LEO to get wrapped within the first month. The hot wallet will hold 1M WLEO tokens at launch and the remaining 9M WLEO will be held in this offline, cold storage wallet. one and only minting of 10M WLEO followed by 9M going to the cold wallet and 1M going to the hot wallet After a few months (or whenever the hot wallet runs low on WLEO), we'll send additional WLEO to the hot wallet by using projected numbers to assume day-to-day usage of WLEO. The goal is to keep just enough in the hot wallet to operate but keep the amount as low as possible so that in the event of an attack, the damage that can be caused is very minimal (imagine, ~200k WLEOs at risk in the hot wallet at any given time whereas the previous attack leveraged tens of millions of WLEOs which were printed out of thin air). To summarize this vital difference in the WLEO V1 setup vs. the WLEO V2 setup, here are the various wallets involved in each version and what permissions they held. This exposes the major flaw in WLEO V1 and showcases 1 of the main aspects of WLEO V2 security: WLEO V1 Wallet Setup: Address #1 (ETH) - Contract Creator: Address #2 (HIVE)- @wrapped-leo Oracle: WLEO V2 Wallet Setup: Address #1 (ETH) - Contract Creator: Address #2 (ETH) - Hot Wallet: Address #3 (ETH) - Cold Wallet: Address #4 (HIVE) - @wrapped-leo Oracle: We had several developers run security audits on the various aspects of Wrapped LEO 2. This includes our original audits on how the previous version was attacked as we had to do in-depth analyses on all the various aspects of that version in order to pinpoint what caused the attack specifically. Utilizing that, we designed the new and highly secure version of WLEO with the security measures mentioned in this post and more. These initial audits were extremely valuable. Over the past several days, we've had a number of devs run audits on the new Wrapped LEO and surrounding architecture including the oracle node, the front end and the ETH contract itself. These audits were run by a few devs on the Hive blockchain and also a non-Hive code auditor with no relation to our projects or other developers. The goal of these audits was to outline the potential attack vectors for Wrapped LEO V2 and figure out if and how another attack could take place. The result is an extensive list of the architecture for WLEO which outline the level of risk and how likely an attack on that particular aspect would be. To keep this brief, the conclusion is that this version of WLEO addresses the outlined aspects that could potentially be exposed. Throughout this post, we've discussed the key features of the WLEO2 design which specifically address these aspects: The end result in all of this is that we now have a highly secure, robust and exchange-friendly version of WLEO that we can utilize now and in the months & years to come. Big shoutout to @fbslo who helped immensely in this process. He helped us dissect the WLEO 1 issues, find the security flaws and also rebuild WLEO for a highly secure relaunch. If you aren't already (and I don't know why you're not), please go vote for his Hive witness node. He's a buidler through and through. I wish I could say that I came up with this genius tagline, but I can't. The credit goes to Neal for coming up with the simplest way to explain how the WLEO geyser incentives pool for liquidity providers will work. You can read our full post with details on this model (including a link to the WLEO Geyser Simulator we built) or you can enjoy the cliff notes version: The fascinating dynamics of having time-enhanced liquidity incentives are going to take effect immediately on the results in the WLEO-ETH pool (along with our other pools in the future). When a pool is opened (i.e. the WLEO-ETH pool tomorrow), there will be a mad rush to deposit liquidity and be as big of an LP as possible on day 1. From there, the incentives under they Geyser model align with being in the pool for as long as possible relative to other LPs. This means that the greatest incentive lies in the liquidity providers who pool their WLEO-ETH from the beginning and hold it in the pool as long as possible. Taking liquidity out early will cause a major opportunity cost in long-term yield. This is the goal of any liquidity ecosystem: incentivize the best group of users. In this case, it's the users who provide liquidity and leave it in the pool for the long-run as opposed to users who frequently jump in and out of the pool. These long-term LPs also happen to be the users who tend to believe most in the project, since they're providing to the liquidity pool with the expectation that they won't withdraw that liquidity for months or even years in order to maximize their Annual Percentage Yield (APY). Simulated Yield from Our WLEO Geyser Simulation Tool When Will the First Geyser LP Incentive Snapshot Be Taken? The Geyser distribution system starts ~24 hours after launch. The snapshots are taken every 24 hours at 10 AM CST. The WLEO launch date is set for November 12th. On the following day (Friday November 13th 😉), the first Geyser snapshot will be taken. Every single day after that at 10 AM CST, another snapshot will be taken. Again, more details on the snapshots and how the rewards are paid out (monthly) are in the Introducing the WLEO Geyser Model, LEO Token Economy Updates and New Simulation Tool post. Similar to the first WLEO launch, @leofinance will provide an initial WLEO-ETH liquidity of $50k USD to kickstart the pool on launch day. This liquidity will be exempt from Geyser snapshots and distributions and will also remain in the pool for a minimum of 12 months. The launch has been delayed 2 or 3 times due to some issues with Infura and the ETH chain as a whole. As of this post being published (on November 11th), everything is ready for launch. This is somewhat poetic because WLEO V1 was attacked on October 11th, 2020. Can't keep a tough LEO down for long The WLEO relaunch will also be accompanied by a UI update. This will introduce many of the features that we built for https://leofinance.io but had to shelf for a month because if the rebuilding process. Now that WLEO is back, we're also bringing back many of the amazing features that will bring a whole new level of functionality to LeoFinance.io and LeoInfra: Roadmap Progress We've had a few days delay in delivering this post and the WLEO launch but we're still on track for our major releases with LeoInfra and LeoFinance.io which will introduce some mind-blowing features like Twitter onboarding, advanced publishing and more.     LeoFinance is a blockchain-based social media community for Crypto & Finance content creators. Our tokenized app allows users and creators to engage and share content on the blockchain while earning cryptocurrency rewards. Track Hive DataNew Interface!About Us HivestatsLeoFinance BetaLearn More Trade Hive TokensTwitterHive Witness LeoDex@financeleoVote Follow @leofinance for official updates Posted Using LeoFinance Beta

We are delighted to announce that Switcheo is the first decentralized exchange to list the EOS version of LEO. This will allow Switcheo users to trade LEO against EOS and can be found on the market.In addition, we have also added the (ERC-20) trading pair. Users can now buy and sell on and pairs with immediate effect.About SwitcheoNetwork:Switcheo Network is the first decentralized cryptocurrency exchange on the NEO blockchain which now allows trading of EOS, Ethereum and NEO tokens.Our goal is to achieve a DEX network with cross-chain swapping capabilities across popular blockchains, with a focus on delivering a world-class trading experience in a trustless and decentralized environment.For more information on Switcheo:Visit our and check out our Join the conversation on and Follow us on , , and Have any questions? Visit our

The Bitcoin price action has also been reflected in the altcoin market as it usually does, with many popular cryptocurrencies surging alongside BTC. Noticeably, Ether (ETH), the native token of the Ethereum platform, has doubled in value in the last month and is currently sitting at over $1,300.

While the latest crypto rally has taken the global cryptocurrency market capitalization to the $1-trillion mark, there have been a few notable cryptocurrencies that have failed to keep up with Bitcoin’s growth for different reasons.

However, by Dec. 23, XRP had plummeted by 41%, and exchanges began delisting the cryptocurrency. By the end of December, XRP was delisted from major exchanges such as Coinbase, Binance US and OKCoin, with a few exceptions like Uphold and GateHub leaving the crypto for trading until the court decision. Currently sitting at $0.28, XRP has dropped around 47% in the last 30 days.

However, it seems that a more plausible reason as to why these projects are failing to grow alongside Bitcoin is that they are seen as direct competitors to Ether, which has had a great run in the past month and hosts most of the DeFi industry. Hobbs told Cointelegraph:

On Dec. 23, the U.S. Treasury Department’s Financial Crimes Enforcement Network issued a proposed rule change, in which it stated that anonymity-enhanced cryptocurrencies, like those mentioned above, are becoming more popular and are believed to be more closely associated with illicit activity such as money laundering and ransomware attacks.

As frequent hacks on decentralized finance and other sets of crypto continue to occur, with the funds being disposed of in crypto exchanges, it also makes sense that the venues would want to disassociate themselves from untraceable money laundering and to comply with any upcoming regulation.

As a result, trust in privacy coins seems to be shaken. Monero and Dash rose 0.79% and 3.79%, respectively, in the last 30 days. While these numbers don’t seem bad, they pale in comparison to Bitcoin’s price action. According to Dr. Octavius, co-founder of DeFi protocol OctoFi, the growth of the DeFi space may help these types of coins survive any upcoming regulatory hurdles:

Another predominant type of token that seems to have stayed on the sidelines during the BTC rally was tokens issued by centralized exchanges, including Nexo, Unus Sed Leo (LEO) and Crypto.com Coin (CRO). While the fundamental value proposal for these tokens remains the same, they are somewhat tied into the success of the venues they are associated with, being used mostly for discounts on trading or lending fees or other perks.

With DeFi on the rise, it seems likely that people would rather speculate on DeFi-related tokens or invest in the yield farming protocols themselves, which could account for the slow price action on these assets. LEO has dropped 1.66% and Nexo has surged by 11.3% in the last 30 days.

While it is unclear what the road holds for coins like XRP, Dash, Monero and ZEC, whose future seems to be heavily tied to upcoming regulation, it looks like there’s a general shift in interest taking place when it comes to altcoins, especially as multiple DeFi tokens begin to take their place in the top 20 market cap list.

As for smart contract platforms, it also seems unlikely that Ethereum will be dethroned soon, especially as the network continues to make strides toward the full release of Eth2. Not all Ethereum competitors are doing badly, however, as for example, the price of Near Protocol (NEAR) has recently soared 106% amid the current DeFi craze.

On Dec. 16, Bitcoin’s price breached its previous all-time high of just over $19,500, previously reached on Dec.17, 2017, according to data from CoinMarketCap. Since then, Bitcoin (BTC) has seen an incredible bull run, which has led the cryptocurrency to new heights, having reached an all-time high of $41,941 on Jan. 8 and rallying by over 115% during this time.

76 5 months ago (edited) 2 Min Read 375 Words ▶️ Watch on 3Speak We had an extremely wide-ranging discussion on the latest LEO Roundtable podcast episode. We intermittently talked about LEO & LeoFinance while discussing the broader crypto and equity markets. During the roundtable, we also has a focus on the basics of charting. Since I’ve spent most of my time on fundamentals, I'm not well-versed in technical analysis. During this episode, I got some basic lessons in technical analysis and charting various assets like TSLA, BTC and others. We ran through some interesting strategies and one that I thought was especially enlightening was the Drecken technical indicators that we used on the BTC price chart. This episode was packed with content that covered just about everything you could imagine. I learned a lot during this recording and I think there is truly a masterclass worth of value in here for anyone who’s interested in finance.     https://leofinance.io is an online community for crypto & finance content creators, powered by Hive and the LEO token economy.   ▶️ 3Speak Posted Using LeoFinance

As one of the longest-standing exchanges in the crypto industry, Bitfinex is guided by the innovation for progress value that motivates us to work relentlessly to build industry-first products and tools to bring the blockchain promise of freedom and scalability to fruition.  At the same time, we know that driving adoption is equally crucial, which we believe is best achieved through an independent fiat gateway that will increase the speed and ease by which fiat currencies can be exchanged for cryptocurrency in a legally compliant manner. With that in mind, Bitfinex developed the UNUS SED LEO token and released the whitepaper on 10th May 2019. Inspired by an Aesop’s fable, The Sow and the Lioness, we named the token UNUS SED LEO.  The words came when the sow asked the lioness about the number of cubs she produced at a birth, in an effort to shame her. The lioness’ answer was, “I have only one; but that one is altogether a thoroughbred Lion,” suggesting that quality wins over quantity.  The UNUS SED LEO token was first offered in a private Initial Exchange Offering (IEO), following the release of the whitepaper. The offer received an overwhelming response from the crypto community as it successfully raised nearly 1 billion USDt in just under a week, which marked a new milestone to Bitfinex as well as the wider crypto community at the time.  As a token designed to empower the Bitfinex community and provide utility for anyone seeking to maximize the output and capabilities of the Bitfinex trading platform, the UNUS SED LEO token comes with heaps of benefits to its holders.  And as the name suggests, it only takes 1 UNUS SED LEO (or equivalent to 1 USDt worth of $LEO) to enjoy all the benefits it has to offer. However, you need to be a verified user to be able to enjoy them.  Here are some of the benefits that UNUS SED LEO holders are entitled to: The amount of discount varies according to the holder’s user status level, which depends on the amount of LEO tokens held over a period of time, as follow: Level 1 users are entitled to 15% taker fee discounts. Level 2 users will get an additional 10% reduction, bringing the total taker fee discount to 25%. In addition to the above cumulative fee reductions, level 3 users will receive discounts of up to 6 basis points (BPS) when trading crypto-to-crypto, crypto-to-stablecoin and crypto-to-fiat and up to 2 BPS for crypto derivatives trades.  UNUS SED LEO token holders get up to 5% discount on peer-to-peer (P2P) lending fees.  As an affiliate, if one of your members hold an average of 500 USDt LEO equivalent, you’re eligible for additional multipliers, as follow:500+ USDt LEO equivalent – a 1.1x multiplier.  – 500+ USDt LEO equivalent – a 1.1x multiplier.– 5,000+ USDt LEO equivalent – a 1.2x multiplier.  – 50,000+ USDt LEO equivalent – a 1.5x multiplier. Holders of > 50m UNUS SED LEO tokens will receive up to a 25% crypto withdrawal and deposit fee discount.  For more details on the UNUS SED LEO token holders benefits, you can go to our support page. Aside from all the benefits mentioned above, UNUS SED LEO holders can expect far more from across the entire portfolio and future projects, products, and services, as detailed in the whitepaper. In celebration of the first burn anniversary of the UNUS SED LEO token, we’re running the ‘WIN and trade like a LION’ competition that runs from 12th to 16th June 2020. Head to the competition page to find out further details and enter.   On top of the benefits the token has to offer, UNUS SED LEO has also become the company’s motto. An ethos that we hold and extends into the very fabric of our company. We do value quality over quantity.  Happy 1st anniversary UNUS SED LEO! You are One, but a Lion 🦁

While most altcoins are trying to cope after the March 13 plunge, LEO is ahead in the market cycle, as it has already formed a golden cross. Among , , and , LEO shows the most profitable future while the rest, not so much. Source: TradingView The token LEO is trading at $1.04 and has a market cap of $1.03 billion making it the 11th largest crypto. With a minuscule 0.06% surge in the last 24 hours, the coin showed a bearish scenario with the formation of a bearish parallel channel. The price may drop to the immediate support at $0.998. However, due to the formation of a , the coin’s future looks bullish in the medium term. Source: TradingView Bitcoin Gold, a fork of , was priced at $7.28 and has a market cap of $127 million making it the 40th largest cryptocurrency. The coin has undergone a -2.42% drop in the last day. It is stuck between resistance [$7.8] and support [$6.5], with Stochastic RSI already in the oversold zone. Source: TradingView The symmetrical triangle formed by Augur aka REP showed chances of a bearish breakout with MACD indicating a bearish crossover. Further, the coin, like BTG is stuck between support at $9.24 and resistance at $10.58. Source: uggle

While most altcoins are trying to cope after the March 13 plunge, LEO is ahead in the market cycle, as it has already formed a golden cross. Among LEO, Bitcoin gold, and Augur, LEO shows the most profitable future while the rest, not so much.

The Bitfinex token LEO is trading at $1.04 and has a market cap of $1.03 billion making it the 11th largest crypto. With a minuscule 0.06% surge in the last 24 hours, the coin showed a bearish scenario with the formation of a bearish parallel channel. The price may drop to the immediate support at $0.998.

However, due to the formation of a golden cross, the coin’s future looks bullish in the medium term.

Bitcoin Gold, a fork of Bitcoin, was priced at $7.28 and has a market cap of $127 million making it the 40th largest cryptocurrency. The coin has undergone a -2.42% drop in the last day.

It is stuck between resistance [$7.8] and support [$6.5], with Stochastic RSI already in the oversold zone.

The symmetrical triangle formed by Augur aka REP showed chances of a bearish breakout with MACD indicating a bearish crossover. Further, the coin, like BTG is stuck between support at $9.24 and resistance at $10.58.

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Akash is a full-time cryptocurrency writer and an analyst at AMBCrypto. He is an engineering graduate with an avid interest in finance and economics. Attracted to the chaos of trading, Akash has invested in BTC, ETH and XRP for educational purposes.

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While many market participants remain fearful, Binance Coin, UNUS SED LEO and OKB are presenting sizable opportunities. Like most cryptocurrencies, the top crypto exchange tokens—Binance Coin, UNUS SED LEO, and OKB—also suffered from the sell-off seen across the global financial markets. However, the bullish momentum behind these altcoins seems ready to resume. Over the last two weeks, Binance Coin has been contained within a parallel channel. Each time BNB rises to the top of the channel, it drops down to hit the bottom of the channel, and from this point, it bounces back again. These are the primary characteristics of a channel. Although this type of technical pattern makes the price action of an asset extremely predictable, it does not provide a clear outlook about when or where the breakout will take place. For this reason, trading within parallel channels poses high levels of risk. As a result, the range between the $11 support level and the $13 resistance level can be considered a no-trade zone. A candlestick close above or below this area will be the catalyst for the next major price movement. A similar outlook is given by the Bollinger bands on BNB’s 12-hour chart, which appear to be squeezing. Squeezes are indicative of periods of low volatility that are typically followed by periods of high volatility. The longer the squeeze, the higher the probability of a strong breakout. A sudden spike in demand for Binance Coin could allow it to close above the upper boundary of the channel and its 50-twelve-hour moving average. Such a bullish impulse could push its price further up to test the next level of resistance around $17. This is where the 200-twelve-hour moving average sits. Meanwhile, closing below the lower boundary of the channel at $11 would likely allow the bears to profit. If this support level fails to hold the price of BNB, then it would likely continue to drop to try to find support around the 61.8% and 78.6% Fibonacci retracement levels. These demand barriers sit at $10.4, and $9.5, respectively. During the recent meltdown seen across the global financial markets, including the cryptocurrency industry, UNUS SED LEO was one of the assets that was barely affected by the downturn. As a matter of fact, this crypto has regained over 90% of the losses it incurred. Now, the TD sequential indicator is presenting a sell signal in the form of a green nine candlestick on LEO’s 3-day chart. The bearish formation estimates a one to four candlestick correction before the continuation of the uptrend. If validated, UNUS SED LEO could lose some of the gains it made. Nevertheless, in a lower time frame such as the 1-day chart a head-and-shoulders pattern appears to be developing. This technical formation is considered to be one of the most reliable trend reversal patterns by many traders. An increase in the buying pressure behind LEO around the current price levels could confirm this bullish pattern. Thus, breaking above the neckline could send this crypto up over 20% to around $1.26. This target is determined by measuring the distance between the head and the neckline and adding it to the breakout point. Due to the ambiguous outlook that UNUS SED LEO presents, investors must be cautious. A break above the $1.04 resistance level could signal that the head-and-shoulders pattern will be validated. Conversely, failing to close above this price hurdle could add credibility to the bearish outlook presented by the TD sequential indicator. Following a 73.5% price drop, OKB managed to rebound quickly and turn its 200-twelve-hour moving average into support. Although the bullish momentum was significant, it was not strong enough to allow it to break above the resistance provided by its 100-twelve-hour moving average. The low levels of volatility seen over the last two weeks suggest that OKB could continue consolidating within these two moving averages for a longer period of time. Adding credence to this idea, a falling wedge appears to be developing in the 4-hour chart. This technical formation is signaling that an 18% upswing is on the works. If validated, OKB could soon climb to test its 100-twelve-hour moving average once again. Even though support and resistance levels weaken the more they are tested, it remains unclear whether the 100 or 200-twelve-hour moving average will break first. Therefore, market participants must wait for OKB to move above or below this trading range before entering any trade. Closing above resistance will set the stage for a further advance to $5.4 or even $6.3 while losing the 200-twelve-hour moving average as support could trigger a sell-off that sends OKB back to $2. Most cryptos in the industry, including BNB, LEO and OKB, have been able to make significant gains over the last few weeks after the massive correction they suffered between the beginning of February and mid-March. Regardless, the upturn seen recently has not been able to bring back most of the capital that was wiped out of the market. Data from Galssnode reveals Bitcoin holders are actually withdrawing their funds from exchanges. The outflow has been increasing on a daily basis since March 18. Currently, BTC exchange balances are the lowest they have been in approximately eight months, according to the on-chain data and intelligence firm. As market participants continue to shiver in “extreme fear,” the Bloomberg Galaxy Crypto Index flashed its first buy signal in over three months leaving many wondering whether it is time to “be greedy when others are fearful.”

The altcoins namely UNUS SED LEO, Moneo, and Zcash are in their respective bull markets. The cryptocurrencies are in an upward move but are battling minor resistance levels which have compelled the coin to trades in a sideways trend. The uptrend will resume as soon as those minor resistance levels are breached. The other coins, Crypto.com and Stella, are in a sideways trend battling to break the overhead resistance.

UNUS SED LEO was earlier in a bear market. The bear market was terminated on December 31 at the low of $0.8086. There was a change in trend as the coin rebounded in the first week of January to a high of $0.900. The market continues to trade below $0.900 resistance for over a month as bulls failed to push the price above it.

On February 2, the coin rebounded to break $0.900 resistance as price rally to $1.039. At the current price, LEO reached the overbought region, and sellers emerge to push the price to the support line. The crypto is rising and the price is making a series of higher highs and higher lows. The uptrend is likely to continue as long as the price is within the channel. On the downside, a break below the support line will terminate the uptrend. LEO is currently above 80% range of the daily stochastic. The market is said to be in the overbought region. In any trending market, the overbought condition may not hold.

Crypto.com coin is in a sideways trend. The market was earlier in a bearish trend as it fell to a low of $0.030. The $0.030 support is holding as the bulls resumed an upward move. The uptrend is currently facing resistance at $0.070. Buyers have failed to break the overhead resistance. In its first attempt to break the resistance in February, the price was resisted and the market drops to $0.030 support. Today, the bulls are retesting the overhead resistance. The crypto has since been repelled and a downward move is expected. The Crypto.com coin is presently at level 61 of the Relative Strength Index period 14. It indicates that the coin is in the uptrend.

Monero is rising and in an ascending channel. The current uptrend is being interrupted at the resistance at $66. Since April 30, the current resistance has hindered the upward move. The bulls were first resisted in April as the market dropped to $58 low. In May, the market tested the $66 resistance and was repelled. Monero has been compelled to a sideways move below the $66 resistance zone.

On the upside, if price rebounds below the resistance, the market will break through the resistance levels of $66 and $68 and rally above $70. Possibly the momentum is likely to extend to $80. Meanwhile, Monero is above 60% range of the daily stochastic. It indicates that the market is in a bullish momentum and approaching the overbought region.

Presently, XLM is in an upward move but in a sideways trend. Stella is testing the resistance at $0.074 to break above it. Since April 30, the resistance has remained unbroken. The bulls have been repelled at the resistance as the market fell to the low of $0.062.

Prior to this current resistance at $0.074, Stella has been retesting the overhead resistance at $0.090. This overhead resistance has not been broken since last year. On the upside, if the bulls break the resistance at $0.074, the market will rise to retest the overhead resistance at $0.090. XLM is at level 55 of the Relative Strength Index. The crypto is in the uptrend zone and may likely rise.

Zcash is in a bull market. In its upward move, it is currently facing resistance at $48. In April, the bulls tested the resistance twice and were resisted. The current resistance in May has caused the crypto to fall to $38 low. The market is in a sideways trend below resistance as buyers initiate a fresh upward move.

On the upside, if the bulls break above the resistance, Zcash will rally above $55. The sideways move below the resistance will continue if the bulls fail to push the price above the resistance. Meanwhile, ZEC is above 40% range of the daily stochastic. This also indicates that the market is in a bullish momentum.

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price dropped to $6,700 range after rallying above $7,000 for some time. This led to a drop in Bitcoin’s dominance which currently stood at 64.1% whereas the collective market cap slid to $191 billion. Source: Closely following its footprint were altcoins such as XRP, Tezos [XTZ] and LEO which also sustained severe losses after the rapid reverse in the downward direction. XRP: Source: on TradingView BTC-XRP correlation coefficient hit a year high of 0.80 on the 12th of April. The rising correlation has led price to follow the suit of the king coin which prevented the third-largest cryptocurrency to breach the key level of $0.2. At press time, XRP was priced at $0.183 after a drop of 2.35%. It held a market cap of $8.09 billion and a 24-hour trading volume of $2.29 billion. Resistance: $0.24, $.29 Support: $0.141 MACD: MACD indicator suggested a bullish trend for the coin with the signal line hovering below. Chaikin Money Flow: CMF was also in the bullish zone depicting inflow of capital in the XRP market. Tezos [XTZ]: Source: on TradingView BTC-XTZ correlation has also been on the rise, currently standing at 0.54, which impacted the price action of Tezos. was priced at $1.92 after a minor decline of 0.14% over the past 24 hours. At press time, it registered a market cap of $1.35 billion and a 24-hour trading volume of $174.7 million. Resistance: $2.57, $3.18 Support: $1.23, $0.766 Parabolic SAR: The dotted markers below the price candles evidenced a bullish presence in Tezos’s price movement in the near-term. Awesome Oscillator: The red closing bar, however, projected mild bearish hints. LEO: Source: on TradingView At press time, LEO held a market cap of $1.018 billion and a 24-hour trading volume of $9.34 million. A drop of 0.01% drove the coin’s value to $1.02. Resistance: $1.11 Support: $0.81 Klinger Oscillator: The signal line was above the KO line, which was indicative of a bearish phase for the coin. Sponsored RSI: RSI despite being above 50-median appeared to be heading below. This indicated a shift in sentiment of an increasing sell pressure among the investors in the market. Related Topics: Chayanika is a full-time cryptocurrency journalist at AMBCrypto. A graduate in Political Science and Journalism, her writing is centered around regulation and policy-making regarding the cryptocurrency sector.

The crypto market took heavy losses following Bitcoin’s downward price correction. However, as the trend reversed to bullish, several altcoins have posted gains through the week, but for some coins, bearish qualms appeared to have taken over.

Leo:

Bitfinex’s LEO token recently entered the top 10 rankings of cryptocurrencies by market cap. However, this tryst was short-lived as it moved to the 11th position soon.

At press time, LEO was trading at $1.04 after a minor decline of 0.22% over the past 24-hours. Additionally, it registered a market cap of $1.03 billion and a 24-hour trading volume of $8.52 million.

Resistance: $1.112, strong>The MACD indicator underwent a bearish crossover.

Chaikin Money Flow: The CMF indicator, however, aligned with the bulls.

Tron [TRX]:

Tron’s price has so far failed to respond positively. Tron was valued at $0.0130 as it held a market cap of $864.8 million. It was up by 8.85% over the last 24-hours and recorded a 24-hour trading volume of $1.002 billion.

Resistance: $0.018, SAR: dotted markers below the price candles depicted a bullish phase for the coin.

Awesome Oscillator: The green closing bars also pointed towards a bullish trend.

Cosmos [ATOM]:

The leading crypto exchange, Binance US recently announced the launch of stake rewards for Cosmos [ATOM].

ATOM stood at a price of $2.21 after a surge of 9.17% over the past 24-hours. At press time, the crypto recorded a market cap of $421.8 million and a 24-hour trading volume of $135.2 million.

Resistance: $3.85, $5.04

Support: $1.58

Klinger Oscillator: The KO line moving above the signal line projected strong bullish signals for the coin’s future in the near-term.

RSI: RSI appeared to be moving towards the 50-median neutral zone. This was indicative of positive sentiment among investors in the overall Cosmos market.

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Chayanika is a full-time cryptocurrency journalist at AMBCrypto. A graduate in Political Science and Journalism, her writing is centered around regulation and policy-making regarding the cryptocurrency sector.

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This article takes a closer look at the latest price action of Bitcoin (BTC), UNUS SED LEO (LEO), Huobi Token (HT), and KuCoin (KCS) and news stories that might be affecting them.Bitcoin (BTC) According to , since 01:40 UTC on July 30, Bitcoin has been trading below $9,500. At press time (06:16 UTC), BTC is trading at $9,469, down 1.11% in the past 24-hour period:In fact, since the BTC price dropped almost $500 (from $10,062 to $9,518) on July 27, it has been mostly hovering between $9,400 and $9,600. One reason for the BTC price staying below $10,000 these past few days might be that the market is waiting to hear what happens later today at the"Examining Regulatory Frameworks for Digital Currencies and Blockchain" of theU.S. Senate Committee on Banking, Housing, and Urban Affairs (aka).The witnesses will be Jeremy Allaire, Co-Founder, Chairman, and CEO of Circle, who is giving testimony on behalf of theBlockchain Association;Rebecca M. Nelson, a Specialist in International Trade and Finance at the Congressional Research Service; and Mehrsa Baradaran, Professor of Law at University of California, IrvineSchool of Law.You can watch this hearing live on the U.S. Senate's. It will start at 10:00 (Eastern Time or 04:00 UTC) on July 30.According toCryptoCompare, at 11:18 UTC on July 28, theBitcoin (BTC) price is trading at $9,469, which means that it is down 0.55% in the past 24-hour period:Altcoins As for the altcoins, here is how some of the most popular ones are currently doing:UNUS SED LEO (LEO) LEO is the best performing coim/token amonst the top 20 cryptoassets (by market cap). As of 06:41 UTC on July 30, LEO is trading at $1.353, up 3.44% in the past 24-hour period:The bullish mood around Bitfinex's LEO token might be caused by what happened in New York City on Monday (July 29).According to a by Coindesk,New York Supreme Court Judge Joel M. Cohen had to make "a final decision on whether to dismiss the NYAGs case entirely, or rule the other way and reject Bitfinex and Tethers motion to dismiss." Judge Cohen said that he needed more time, which means that there is a chance he will agree with Bitfinex's lawyers and dismiss the case against Bitfinex/Tether entirely. The lack of a ruling means that "Bitfinex and Tether can continue operating their businesses as normal, but Tether still cannot lend any more funds to Bitfinex."Huobi Token (HT) and KuCoin (KCS) Both exchange tokens are in the green while most altcoins are in the red:As , the Co-Founder, CIO, and CEO of Three Arrows Capital pointed out on July 29, both Huobi and KuCoin are launching staking programs, thereby increasing the value of their tokens:Interesting to see $KCS and $HT start as exchange platform tokens and now add staking elements. pic.twitter.com/UUOl6xDlLC Su Zhu (@zhusu) July 29, 2019Featured Image Credit:via Pexels.com