Binance Announces Perlin [PERL] Network as 8th IEO on the Launchpad

Binance Research describes it as a “highly scalable, PoS smart contract platform that achieves a throughput of 31,000+ TPS and consistently has 0 to …
Binance Announces Perlin [PERL] Network as 8th IEO on the Launchpad

Leading cryptocurrency exchange Binance has revealed the next project on its popular token launch platform Binance Launchpad. The 8th project on the Launchpad, Perlin[PERL] will be seeking about $6.7 million from its Initial Exchange Offering (IEO) this month.

According to an announcement post on the Binance support website, the Perlin token sale will be conducted through the lottery and airdrop system with a few minor changes to the process. BNB balances will be recorded as usual starting from Friday, August 9th, and will continue through August 23rd, a period of 15 days.

As opposed to the previous token sale for WINk tokens, whose BNB account balances were recorded at the end of the day, with Perlin, account balances will be recorded throughout the day to get an hourly average that will be used to get a daily figure. With this daily figure, Binance will again average that at the end of the account recording period to get the daily average which will be used to calculate the number of qualifying tickets for each participant. In addition, Binance has reserved about 3,874,500 PERL (approximately $300,000 USD) tokens to be airdropped to participants who aren’t lucky enough to get a winning ticket.

Here are a few details shared by Binance about the Perlin token sale:

  • Token Name: Perlin (PERL)
  • Total Token Supply: 1,033,200,000 PERL
  • Launchpad Hard Cap: 6,700,000 USD
  • Total Tokens Allocated to Binance Launchpad: 86,530,500 PERL (8.38% of Total Token Supply)
  • Public Sale Token Price: 1 PERL = 0.07743 USD
  • Max Number of Winning Lottery Tickets: 13,400
  • Allocation Per Winning Ticket: 500 USD (6,457.45 PERL)

Perlin will be initially launched as an ERC-20 compliant tokenPerlin will be initially launched as an ERC-20 compliant token

Perlin will be initially launched as an ERC-20 compliant token, which is a divergence from its other previous Launchpad projects that launched as BEP2 tokens on the Binance Chainblockchain. It is, however, expected that the project will shift over the Binance native blockchain after the launch.

So what is Perlin Network? Binance Research describes it as a “highly scalable, PoS smart contract platform that achieves a throughput of 31,000+ TPS and consistently has 0 to 4 second time to finality, all of which is made possible by Wavelet, a DAG-based probabilistic consensus mechanism.”

Perlin was launched mid last year through an ICO reportedly raising about 80,000 ETH, a sum the project team has been sitting on through the crypto winter. Unfortunately, this amount has depreciated a lot which has forced the project to seek more funds through the IEO.

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An Overview of Cryptomarket in 2019

Ethereum, Litecoin and other crypto coins? Take a look at this report … Ethereum is another powerful currency in the crypto arsenal. ETH was once the …
lending and listing picture

Disclaimer:The text below is a sponsored article that was not written by Cryptonews.com.

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If there’s anything we have learned so far about the cryptomarket currency after the Bitcoin

craze in 2017 is that it’s highly volatile and unpredictable. Even though this makes crypto

unappealing to those looking to make safer investments, it has actually made millionaires

overnight around the world.

It’s time to check back with some of the most popular cryptocurrencies to see how they’re doing.

Is it still a good time to invest in cryptocurrencies? What is the current status of Bitcoin,

Ethereum, Litecoin and other crypto coins? Take a look at this report to find out.

#1 Bitcoin

Bitcoin has started out and remained the absolute king of cryptocurrency since its beginning

cause of the following reasons:

  • it’s widely used for anonymous transactions;
  • nowadays, the best Bitcoin gambling sites are on the rise on every legal and grey markets;
  • some famous online stores and shops started accepting BTC for all payments.

After its biggest uphill run in 2017, this year has been an amazing year for Bitcoin once again.

At this moment, 1 BTC is worth around USD 9,800 (over GBP 8,000). Given that Bitcoin

actually started out 2019 at the price of around USD 3,700, it’s safe to say that it’s been a wildly

turbulent year for this crypto.

The biggest spike in 2019 happened on July 10, when 1 BTC was worth over USD 12,500.

What can we expect from Bitcoin in the following period? Just like the time so far, it’s downright

impossible to say what will happen to Bitcoin and when. But, one thing is for sure: it’s

guaranteed to be exciting!

#2 Litecoin

Since all cryptocurrency prices are pretty much dependent on Bitcoin, it has been a turbulent and volatile year for Litecoin, too. In terms of pricing, Litecoin is much less valuable

than Bitcoin: 1 LTC currently costs around USD 90. However, this doesn’t mean that it will stay

in the 2-digit value realm forever. More than a few times, Litecoin has gone over the 100

threshold and remained there for quite some time. This had happened in 2019, too.

LTC had been valued at more than 100 dollars for more than one consecutive month (end of

May – mid-July). Currently, Litecoin is very volatile and its value is known to change for up to 10

percent in a single day. So, if you’re in for some thrills, Litecoin will definitely give you some!

#3 Ripple

Even though Ripple has the lowest price of all cryptos on our list, it doesn’t mean that it didn’t

have a successful year as well. Ripple, otherwise referred to as XRP, has started out the year at

around 0.35 USD, after being steadily over 0.45 only one month prior.

Ripple has seen its biggest price spike in May, just like other cryptocurrencies, when it set the

year record at 0.45 USD. Now, Ripple is somewhat more stable than other cryptocurrencies and

it features lower volatility. The price of XRP is expected to increase significantly in the years to

come as more and more banks start introducing it as their crypto mechanism.

#4 Ethereum

Ethereum is another powerful currency in the crypto arsenal. ETH was once the second most

valuable crypto after Bitcoin, but this has changed after many new currencies entered the

market. Ethereum is currently priced at around 216 USD.

At the beginning of the year, ETH featured a similar journey to other cryptos. After a major dip

from August 2018’s 420+ USD, Ethereum has fallen to around 130 USD at the beginning of the

year. It started recovering until then, while its biggest peak was on June 27 at over 324 USD.

#5 Libra (New Crypto by Facebook)

When it comes to new cryptocurrencies, it’s safe to say that Libra was definitely the crypto that

marked 2019. It was only announced in June and it’s expected to be launched in 2020, but it

has shaken the cryptocurrency market to the core. Some government bodies have already

started voicing concerns that Libra will disrupt the financial market too much.

It’s expected that Libra will launch at around 1 GBP, and all users will be able to purchase it

through Facebook’s Calibra wallet. As you can see, 2020 will definitely bring a lot of fresh

excitement into the cryptocurrency ecosystem. All that’s left to do is to track the progress of our

favorite cryptos, buy low and sell high!

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Bitcoin’s Latest Rally Close to $12K Fueled by Litecoin’s ‘Halving’

Litecoin’s reminder that bitcoin miner rewards, too, will halve accompanied a “risk off” trade that powered bitcoin higher on the back of global turmoil …

The crypto markets couldn’t offer up a clearer example of supply and demand — and the impact on prices — than they did this week.

A strong upward move in cryptocurrency Litecoin on Monday, triggered by an event called “halving,” led to sympathetic moves in other cryptocurrencies including bitcoin as investors were reminded that bitcoin, too, is set to see its mining rewards change.

Litecoin’s reminder that bitcoin miner rewards, too, will halve accompanied a “risk off” trade that powered bitcoin higher on the back of global turmoil and China’s latest fiat currency devaluation. Cryptocurrencies, with a fixed supply denominated in fiat currency prices, typically benefit from fiat currency devaluations and the news from China fueled a predictable bitcoin bump.

At the core of the rise, though, top-ten cryptocurrency Litecoin successfully completed what insiders call a “halving” on Monday, with Litecoin soaring by more than 10% on the news before partially retracing. Bitcoin flirted with the $12,000 threshold on Monday, while on Tuesday, Litecoin pulled back from the $100 mark and bitcoin fell slightly.

What is “halving” — also termed “halvening?” For the uninitiated, so-called “Proof of Work” cryptocurrencies incentivize cryptocurrency miners to discover the next block of transactions on a blockchain and confirm they took place. It’s akin to precious metals mining where returns diminish as the same effort yields progressively less metal. Cryptocurrency “miners” — it turns out, face those same headwinds to supply and demand.

Cryptocurrency “miner” rewards periodically diminish over time, with Litecoin’s reduction kicking in at block 1,680,000 earlier on Monday, halving the reward from 25 to 12.5 LTC per block. As one market exchange, Binance Academy, explains, “the halving ensures that a crypto asset will follow a steady issuance rate until its maximum supply is eventually reached.”

Litecoin’s halving attracted significant interest within the crypto community, particularly from speculators eager to gauge whether LTC’s corresponding price movement is mirrored by BTC when it undergoes it’s scheduled to undergo its own halving next year.

Pricing in the Move

Common consensus holds that slashing mining rewards in half reduces the sell-side pressure from miners, who are obliged to offload freshly minted coins onto the market to cover their costs. In anticipation of this occurring, traders are prone to load up on the cryptocurrency, leading to the assumption that the reduced selling pressure that ought to occur post-halving is already “priced in.”

In the case of Litecoin, the evidence would suggest that this is the case. The coin is up over 200% for the year to date, with a 165% “hashrate”– or miner output — increase for the same period. As more miners compete to find the next block, the network’s hashrate — the combined processing power of all mining machines — increases.

Correlation does not equal causation, of course, and there are plenty of other non-mineable crypto assets that have also recorded a bumper year. Nevertheless, Litecoin’s impressive rally in late June, which saw prices surpass $140, has been attributed to the much-hyped halving. A similar trend for bitcoin leading into its halving event in 2020 would likely see the cryptocurrency reach a new all-time high.

Litecoin halving was a success! And price just hit $100! ��

Block 168,000 produced 12.5 LTC in block rewards.

Let’s do this again in August 2023! �� pic.twitter.com/aBvDJtH4FV

— Charlie Lee [LTC⚡] (@SatoshiLite) August 5, 2019

“The reason for Litecoin’s price increase appears to be speculative, as the reward halving has little effect on the stock-to-flow ratio,” explained cryptocurrency trading firm RSK CEO Diego Guiterezza. “If anything, it increases the relevance of transaction fees in mining profitability, and reminds us that focusing on adoption and scalability is more important than ever.”

Brothers in Arms or Bitter Enemies?

In an interview with Cointelegraph ahead of the halvening, Litecoin founder Charlie Lee insisted that Litecoin and bitcoin complement one another, adding: “A lot of people I know, they own bitcoin and Litecoin, and they use bitcoin for large transactions and Litecoin for small transactions…when bitcoin fees are high, Litecoin becomes very useful.” Litecoin’s faster block times — two minutes versus bitcoin’s 10 minutes — also make it better suited to rapidly moving capital in and out of exchanges.

Despite these attributes, Litecoin seems cursed to forever live in the shadow of bitcoin. Even on Monday, on what should have been LTC’s day, it had to play second fiddle to BTC, which stole the show with an 8.5% gain according to data from Coincodex, with LTC and EOS tied in second place, out of the top 10 crypto assets by capitalization, recording gains of 7% apiece. While the price of Litecoin climbed on Monday, the same cannot be said of its mining profitability. As the halving kicked in, the profitability of mining LTC dropped from $2.60 per GHz to under $2.

With Libra’s payment currency on its way, medium of exchange coins such as Litecoin may face greater challenges than a rampant bitcoin capturing most of the market (BTC’s dominance over the rest of the crypto market now stands at 68%, its highest level since January 2017 according to CoinMarketCap).

Regardless of what the future may hold for Litecoin, its successful halving and the rally that preceded it augur well for bitcoin over the coming months.

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eToro Now Offers 15 Cryptocurrencies, Adding Tezos (XTZ) To The Mix

eToro, one of the top social trading and day trading brokers in the world, also offers cryptocurrencies. And, in fact, the platform is looking to expand its …

eToro, one of the top social trading and day trading brokers in the world, also offers cryptocurrencies. And, in fact, the platform is looking to expand its offerings by gaining support for Tezos (XTZ).

Tezos, which has a market value of more than $950 million, marks the 15th digital asset to hit the platform.

Based in Israel, Tezos has been doing what it can to expand its audience of people participating in cryptocurrency trading. Part of this can be seen with eToroX, the company’s crypto branch, earning a blockchain license from Gibraltar financial services.

As you may know, users on eToro can already take advantage of the following fourteen assets: Bitcoin, Ethereum, Bitcoin Cash, XRP, Litecoin, Ethereum Classic, Dash, Stellar, NEO, EOS, Cardano, IOTA, ZCASH, and Tron.

According to Finance Magnates, eToro not only provides cryptocurrency CFDs but also purchasable assets that the platform then houses for customers.

On top of this, XTZ assets will also be added to the platform’s CryptoPortfolio. This is a space that houses cryptocurrencies that have a market cap higher than a billion and a “minimum average monthly volume” of around $20 million.

The Tezos network is built up of developers that all own their own code. Interestingly, however, the platform put out a $232 million dollar ICO, that eventually rose to a billion, that a Swiss foundation controls.

That said, according to the publication, the founders of Tezos are being sued in multiple lawsuits within the United States. Those after the company claim that Tezos purposefully miscategorized their assets as non-refundable so they wouldn’t be examined by governments and other legal spaces.

CEO of eToro, Yoni Assia, commented on the matter:

“Tezos is making great progress and some banks are already choosing its blockchain network for security token offerings worth over a billion dollars. As we see financial institutions move more into the world of crypto, it is important that ordinary investors can take advantage of these technological developments, which is why we’re excited to be adding coins like Tezos to eToro.”

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Top Crypto News of the Week – 29th June to 4th August 2019

Walmart has presented an application for a digital currency patent that should be similar to Libra. The filing proposes that the coin would provide …

This week has been lively with several things happening around the crypto space. XRP was amongst one of the top trending cryptos with different developments occurring around Ripple. Tron was also in the news with some shaky moments. Moreover, some general announcements were made. Let’s have a glance at them.

Cash App Powered by Square, Inc. Doubles Bitcoin Revenue

Cash App powered by the payment company Square, Inc. announced that their revenue for the Q2 2019 was doubled with an amount of $125 million in BTC’s. Before, the company’s revenue for Q1 was around $65.5 million in Bitcoin.

Square is a company which is highly bullish on Bitcoin and the project manager at Square Crypto; Steve Lee mentioned that the payment company is very, very pro-Bitcoin.

Walmart Patenting a Stablecoin

The interest of retail giant Walmart seems to increase in the cryptocurrency market. Walmart insists that they should have crypto just like Facebook’s Libra that would be a much secure platform to store government bonds and fiat currency.

Walmart has presented an application for a digital currency patent that should be similar to Libra. The filing proposes that the coin would provide financial services for those with limited ingress to the banking services.

Grayscale to Use Coinbase Custody

Grayscale was looking to make one of the most significant single-day crypto transfers. Coinbase already holds $1 billion in assets of the company, claimed CEO Coinbase. The crypto exchange has been acting as the custodian for Grayscale’s digital asset holdings and is set to hold further assets worth almost $3 billion soon.

Grayscale holds several cryptocurrencies including Bitcoin, Ethereum, Stellar, XRP, several other altcoins. According to the company, it holds crypto assets worth $2.7 billion, which is double of those holdings of Q1 that were around $1.2 billion.

South Korea Begins Regulation Free Zone

The government of South Korea announced Busan as a “regulation-free zone” for the development of blockchain. This was being discussed for a long time, and finally, it has been formalized.

Busan is set to organize a copious blockchain libation that will include finance, tourism, and public safety. Though the government hasn’t allowed ICOs and they are still a bit conscious regarding cryptocurrencies. Still, it is a good incentive that will open gates for blockchain technology and hopefully cryptocurrencies as well.

It is expected that by the end of 2021, investors would have made an investment of around 25 million dollars across different blockchain projects.

Kraken Acquires Interchange

One of the biggest crypto exchanges, Kraken attained Interchange as per an announcement made on 31st July. This is one of the latest efforts made by Kraken to gain the institutional advantage in the industry.

Interchange is basically a reporting and accounting service for companies, and it also has functions in the crypto market. So, acquiring an Interchange is a good development for Kraken. It will help users to manage their portfolios in a better way. The access to the market would become accessible, and investors would be better able to monitor and report regarding their crypto holdings.

Litecoin (LTC) ‘Halving’ Soon

One of the top cryptos in the market, Litecoin (LTC) is going to be halved once again. The LTC halving with take place on 5th August, and this would decrease the reward for cryptocurrency users by 50%.

At the moment, Litecoin miners are offered with 50 coins for each block, and after the halving, it would automatically be reduced to 25 coins per block.

This news is very much for the investors to keep an eye on. Litecoin is expected to follow an upward trend, as the constant decrease in mining rewards results in profitability though halving could turn out to be unstable for a market that is already volatile.

Ripple on the Charge

Ripple has had a successful week, as far as its adoption is concerned. Several financial institutions have adopted Ripple’s XRP for their payment services.

Recently, the second-largest payment provider in the world, Moneygram has made a deal with Ripple to use its services for cross-border transactions using the digital asset. The focal point of this collaboration will be Ripple’s xRapid. It leverages XRP, the native digital asset of the XRP Ledger, as a real-time bridge between the sending and receiving currencies.

Moreover, Ripple has been adopted by the payment provider companies, including EquensWorldline. Also, Ripple, in partnership with SBI, launched a virtual currency spot trading service called ‘VCTRADE Pro.’

Tron (TRX)’s Tremulous Moments

In the latest crypto ranking published by China, Tron makes the third spot among other 27 digital assets. This was the most triumphant moment for TRX in this week.

However, it was more than good stories that revolved around TRX radar. Several Tron holders have reportedly switched to Ripple (XRP) as they thing Justin Sun doesn’t mean business.

It was a see-saw week for Tron, let’s see what’s new for the TRX community in the upcoming week.

Conclusion

Overall, the progress of the crypto industry seems to have moved with some positive developments this week. As the crypto market is leaving its impression on the world, day-in, and day-out, there is much more to follow from the crypto world.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

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