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Balancer(BAL)

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$6.9219
(2.14%)
0.00024424 BTC
Market Cap (Rank#116)
$336,229,929
11,864 BTC
Vol 24h
$9,045,430
319.173 BTC
Circulating Supply
48,575,051.56
Max Supply
96,150,704
1h ago cryptodaily
OKX to Open Office in Australia
MELBOURNE, AUSTRALIA, 29th March, 2023, ChainwireBrand Ambassadors Daniel Ricciardo, Scotty James, and McLaren F1 driver Oscar Piastri join event at Melbourne Arts Centre to celebrate ahead of Australian Grand PrixOKX, the second-largest crypto exchange by trading volume and a leading Web3 technology company, today announced that it will open an office in Australia in the coming months.The announcement was made at an exclusive event for Australia's crypto community at the Melbourne Arts Centre, and was attended by OKX Ambassadors Scotty James and Daniel Ricciardo.OKX Ambassadors Daniel Ricciardo (left) Scotty James (right)On 30 March, the Australian Grand Prix commences and will feature the OKX-sponsored McLaren F1 Team car driven by Australian Oscar Piastri and Lando Norris.Haider Rafique, Chief Marketing Officer at OKX, said: "Our ambition is straightforward - to become the leading crypto platform in the world. We see Australia as an indispensable part of this strategy and a key growth market. With such a strong uptake of crypto in Australia already, we're committed to the local market and aim to build a strong local office."Daniel Ricciardo, Australian F1 driver and OKX Ambassador, said: "I'm very excited to see OKX plan an office in my home country. I had a great time celebrating with the OKX team and the crypto community today. The future looks bright for OKX in Australia."Scotty James, Australian Olympic snowboarder and OKX Ambassador, said: "Crypto never sleeps, and OKX continues to build its community. Australia is a special place for crypto, and it is exciting to see OKX announce it will be opening an office in Australia."OKX's commitment to trust and transparency is showcased by its publishing of Proof of Reserves (PoR) on a monthly basis. OKX holds the largest 100% clean reserves among major exchanges at USD$8.9 billion, according to third party data. Reserves and liabilities can be self-verified with trustless tools on the OKX website.OKX CMO Haider Rafique (left) and McLaren F1 Driver Oscar Piastri (right)OKX Ambassadors Scotty James (left), and Daniel Ricciardo (right) pose with OKX CMO Haider Rafique (center)About OKXOKX is a world-leading technology company building the future of Web3. Known as one of the fastest and most reliable crypto trading platforms for investors and professional traders everywhere, OKX’s crypto exchange is the second largest globally by trading volume and is trusted by more than 50 million users.OKX’s leading self-custody solutions include the Web3-compatible OKX Wallet, which allows users greater control of their assets while expanding access to DEXs, NFT marketplaces, DeFi, GameFi and thousands of dApps.OKX partners with a number of the world’s top brands and athletes, including: English Premier League champions Manchester City F.C., McLaren Formula 1, The Tribeca Festival, golfer Ian Poulter, Olympian Scotty James, and F1 driver Daniel Ricciardo.OKX is committed to transparency and security and publishes its Proof of Reserves on a monthly basis.To learn more about OKX, download our app or visit: okx.comDisclaimerThis announcement is provided for informational purposes only. It is not intended to provide any investment, tax, or legal advice, nor should it be considered an offer to purchase, sell, or hold digital assets. Digital assets, including stablecoins, involve a high degree of risk, can fluctuate greatly, and can even become worthless. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/tax/investment professional for questions about your specific [email protected]
3h ago cryptodaily
Despite Recent Setbacks, Crypto Idealism Is Still Alive And Well
The cryptocurrency industry has undoubtedly had a rocky few years. From high-profile scams to market crashes and regulatory hurdles, the industry has faced numerous setbacks that have shaken the confidence of even the most ardent crypto idealists. The "idealist" crypto projects and platforms can help unlock practical value. Adhering to core principles, such as decentralization, user control, and being verifiable, is essential to make a lasting industry impact. Those approaches introduce many new hurdles and challenges, but the following platforms continue innovating and pushing the industry forward - keeping crypto idealism alive. Theta Network (Decentralized Video Streaming) The decentralized video delivery network aims to disrupt the traditional video streaming industry. It uses blockchain technology to create a peer-to-peer network of users sharing video content, reducing the need for centralized servers and cutting costs. Theta Network also rewards users who contribute their computing resources to the network with Theta tokens, which can be used to access premium content and services on the platform. Theta Network has partnered with some of the biggest names in the video streaming industry, including Samsung, Google, and MGM Studios. As a result, it has a growing user base of millions of users worldwide. In addition, the platform's unique approach to video delivery has earned it praise from industry experts, and it has the potential to disrupt the traditional video streaming industry in a significant way. Nimiq (Crypto For Everyone) Nimiq is a decentralized cryptocurrency project that aims to make cryptocurrency accessible to everyone through a user-friendly and easy-to-use platform. A crucial boon of Nimiq is its focus on usability and accessibility, which makes it ideal for new users looking to enter the cryptocurrency world. That approach has given birth to various tools and infrastructure solutions to enable mass cryptocurrency adoption. A core benefit of Nimiq is its fast transaction times. Nimiq uses a unique consensus algorithm called Albatross, which allows for near-instant transactions. That is a significant advantage compared to other cryptocurrencies, which may take several minutes or even hours to confirm transactions. In essence, Nimiq is a decentralized payment solution with a native blockchain. Its team aims to usher in a global monetary system without intermediaries. In addition, its solution is non-discriminatory, secure, cheap, eco-friendly, and collaborative. It also removes concerns over market volatility, technical expertise requirements, and clunky interfaces. Cardano (Blockchain Infrastructure) Another platform that crypto idealists should keep their eye on is Cardano. Founded by Charles Hoskinson, one of the original co-founders of Ethereum, Cardano aims to create a more sustainable and scalable blockchain platform than its predecessors. Unlike other blockchain platforms that use proof-of-work algorithms to verify transactions, Cardano uses a more energy-efficient and scalable proof-of-stake consensus mechanism. Cardano also aims to provide greater security and transparency than other blockchain platforms by separating its transaction validation and computation processes into two separate layers. This approach allows for greater flexibility and efficiency and makes it easier to update the platform over time. Cardano's commitment to sustainability, scalability, and security has earned it a loyal following among crypto enthusiasts, and it has already established partnerships with several major companies and organizations. Lens Protocol (Decentralized Social Media) Lens Protocol is a decentralized platform built on the Polygon blockchain that allows users to create, trade, and manage synthetic assets. These synthetic assets are created by mirroring the value of other assets, such as commodities, stocks, and fiat currencies. It allows users to gain exposure to the underlying asset without owning it. The Lens Protocol platform is powered by smart contracts that ensure the accuracy and transparency of each transaction. Users can create synthetic assets or invest in existing ones called lenses. Each lens is backed by collateral, which is held in a smart contract, and the underlying asset's value determines its value. When a user invests in a lens, they receive a corresponding amount of synthetic tokens, which can be traded or redeemed for the underlying asset at any time. The Lens Protocol platform also includes a governance system that allows users to vote on proposals related to the platform's development and management. That gives users a say in how the platform operates and ensures it remains community-driven and decentralized. Overall, Lens Protocol provides a flexible and efficient way for users to gain exposure to a wide range of assets while leveraging the security and speed of the Polygon blockchain. To conclude, there is still a lot of activity in the cryptocurrency and blockchain space. While the overarching market momentum may remain volatile, builders put their best foot forward to unlock a brighter future. The projects outlined above showcase the building blocks users can experiment with today and in the future. Moreover, the varied approach by developers to explore different concepts - video streaming, social media, and making crypto more accessible - confirms the evolution of overall infrastructure. There is much more potential to unlock in the industry, as a decentralized web is inevitable at this point. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
4h ago coindesk
Binance’s On-Chain Balance Stands at $64B, Nansen Data Shows
Tether (USDT), bitcoin (BTC), ether (ETH), binance usd (BUSD) and bnb coin (BNB) make up around 81% of Binance’s total balance.
16h ago coindesk
Zebedee Debuts Global Payment Service Powered by Bitcoin’s Lightning Network
The service is currently available in the U.S., UK, EU, Brazil and the Philippines, but Zebedee plans on expanding the service to accommodate “all countries and currencies across the world.”
21h ago nulltx
The Crypto Dream Team: TMS Network (TMSN), Apecoin (APE), and EOS (EOS) Set to Achieve Unprecedented Market Success
As the world becomes increasingly digitized, cryptocurrencies have emerged as a major force in the global economy. TMS Network (TMSN), Apecoin (APE), and EOS (EOS) are three cryptocurrencies that have recently joined forces in what many experts are calling the “Crypto Dream Team.” With unique features and innovative technologies, these coins are poised to achieve […]
21h ago cryptodaily
Top 8 ERC20 Tokens to Buy Now in 2023 - Ethereum Network Best Gems
ERC20 tokens are tokens built on the Ethereum blockchain and are standardized to ensure they are compatible with the Ethereum network. This means they can be easily integrated with other Ethereum-based applications, making them highly versatile and easy to use. But why do so many projects choose to release their tokens on the Ethereum blockchain? Well, Ethereum is one of the most popular blockchain platforms in the world, offering developers a wide range of benefits. For starters, it allows for creating smart contracts, self-executing contracts that can automate complex business processes. Additionally, Ethereum has a large and active developer community, so new tools and features are constantly added to the platform. If you're looking to invest in ERC20 tokens in 2023, then you'll want to keep an eye on some of the top projects in the space. In this article, we'll take a look at the top 8 ERC20 tokens to invest in this year. From DigiToads to Calvaria, each of these projects has something unique and is definitely worth considering for your portfolio. 1. DigiToads DigiToads is a new play-to-earn token with a toad-themed ecosystem designed to increase the passive income-earning potential of token holders. Developing a Web3 game where players can purchase, collect, and train toad NFTs as pets is one of the most exciting aspects of DigiToads. These toads can be used in battle and to climb the leaderboard rankings in exchange for the game's native currency, TOADS. At the end of each gaming season, half of the total prize pool, collected from in-game item sales, is distributed proportionally to the top 25 percent of players. Even if players don't finish in the top 25%, they still get 10% of the total prize pool. Additionally, 2% of each TOADS sale is dedicated to the staking pool, implying that players who stake their NFTs are eligible for large payouts. Notably, DigiToads are automatically burned at a rate of 2% of all TOADS transactions, resulting in a decreasing supply and increased potential for long-term appreciation for those who hold it. DigiToads presale has already raised over $340K in two weeks, so the project is truly about to make a revolution in the blockchain gaming industry. For More Information on DigiToads: Visit The Website: https://digitoads.world Join The Community: Linktr.ee/digitoads 2. ApeCoin ApeCoin is a relatively new ERC20 token developed by Yuga Labs, the creator of the Bored Ape Yacht Club and Mutant Ape Yacht Club non-fungible token (NFT) collections. APE is a governance and utility token used as the primary token in Web3 for art, gaming, entertainment, and events. Bored Apes, a collection of 10,000 unique digital artworks, has become a trademark of ApeCoin. ApeCoin is a decentralized autonomous organization (DAO) whose governance and management are handled by token holders. Therefore, all ApeCoin holders have the opportunity to join the ApeCoin DAO and have a say in how the Ecosystem Fund is distributed, as well as other governance rules, projects, and partnerships. The Ape Improvement Proposal (AIP) Process provides a methodical framework for community members to submit proposals in one of three broad categories: Core, Process, or Informational. 3. Decentraland Decentraland is a widely used metaverse platform that allows for digital advertising for blockchain-friendly brands and play-to-earn crypto games like ICE poker, virtual concerts, and more. Users can buy, sell, and manage virtual reality applications on this platform, encouraging more developers and operators to join the project's global network. The platform's original token, MANA, can be used to purchase LAND. LAND is a non-fungible digital asset stored in an Ethereum smart contract. The MANA currency serves many purposes beyond just facilitating avatar comparisons. In this online environment, users can buy land to construct, explore, and run their own businesses. 4. Uniswap Uniswap is an Ethereum-based protocol for executing decentralized exchanges. It allows users to trade any ERC-20 token without a central intermediary. Launched in November 2018, Uniswapis based on the Ethereum platform and takes advantage of its smart contracts, which carry out actions automatically once certain criteria are met. Since the protocol is freely available, anyone can use it to start new markets or participate in existing ones. The Uniswap protocol relies fundamentally on an AMM structure to facilitate trades. Instead of an order book, this model uses a mathematical algorithm to establish the value of tokens. Traders who contribute liquidity to the protocol do so by placing an equal number of two tokens into a liquidity pool, from which they receive liquidity pool tokens representing a proportional allocation of the pool's total value. In exchange for trading or holding these tokens, users gain access to a proportion of the protocol's transaction fees. 5. Maker Using the Ethereum blockchain, Maker (MKR) operates as a DAO to oversee the Maker Protocol. Dai is a stablecoin whose value is pegged to the US dollar, and it can be created on the Maker protocol, a decentralized lending platform. Using the Maker Protocol, borrowers can secure Ethereum as collateral and borrow Dai at a predetermined collateralization ratio. The system is set up to keep the value of a Dai at 1 USD at all times. MKR is the Maker protocol's token of governance. Holders of MKR can vote on proposed amendments to the protocol, such as the addition or deletion of collateral types and adjustments to the risk parameters. When the collateral value drops below the required collateralization ratio, auctions of unsecured debt are triggered, and MKR holders must participate in keeping the system stable. One of its most notable features is the Maker protocol's flexibility in accepting cryptocurrency, fiat currency, and even other stablecoins as collateral. This ensures that there are no central points of failure in the protocol and that it can continue to operate independently. All transactions and balances in Maker are public and auditable via the blockchain, adding to the protocol's credibility. 6. Yearn Finance Yearn Finance is a DeFi yield farming platform focused on helping its users maximize their cryptocurrency investment returns. Yearn Finance allows owners of ERC20 tokens to either lend out their tokens at potentially high-interest rates or stake them on the blockchain of a given project in exchange for rewards. The Yearn Finance token (YFI) is an ERC20 token unique to the platform. Its primary function is a governance token that entitles token holders to a say in which future projects the platform will support. YFI token holders are also eligible for a cut of the company's profits. A portion of the fees paid by Yean Finance users is allocated to managing the investments delivered to YFI token holders. 7. Dash 2 Trade Dash2Trade, a novel social trading and analytics tool, is another ERC20 token that deserves your attention. Its goal is to arm users with all the data they need to make educated decisions in the cryptocurrency market. Social trading, listing alerts, market news, on-chain analytics, and automated trading tools are just some of the platform's many features. Dash2Trade's native D2T token is what makes the platform work. D2T uses the Ethereum blockchain and has a maximum supply of 1 billion coins. 8. Calvaria Last but not least, we have Calvaria, an innovative crypto-card game. It is the traditional play-to-earn that allows users to earn money by competing against other users. The goal is to create a game that can bridge the gap between the "real world" and the crypto world, making it fun and approachable, and accessible on iPhone, Android, and PC. $RIA will be utilized to support the entire gaming ecosystem and awarded to tournament winners. The tokens are tradable on marketplaces and can be used to purchase virtual goods such as NFT cards. Players will also be rewarded with $eRIA (earned ria) tokens for their time and effort in the game. The $eRIA token will have utility and value in and out of the crypto community. Final Takeaway Investing in ERC20 tokens can be smart for those looking to diversify their cryptocurrency portfolios. With the wide range of benefits, the Ethereum blockchain offers, it's no surprise that many projects choose to release their tokens on this platform. The top 8 ERC20 tokens mentioned in the article offer unique features and growth potential, so diversify your portfolio and maximize your returns in the long term. To purchase DigiToads visit: https://digitoads.worldTo purchase the other tokens on this list head over to eToro or any major crypto exchange Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
23h ago cryptodaily
Nvidia Thinks Crypto Has No Social Impact
Nvidia, the computing software and hardware design firm behind what some have touted to be the cutting edge in terms of processors, has long been a key player in the world of technology. Its silicon substrate designs laid the foundation for technological innovation for over the past three decades, driving progress in various industries. Nvidia CTO Michael Kagan, however, recently expressed his belief that cryptocurrencies do not "bring anything useful for society," in an interview from The Guardian. "All this crypto stuff, it needed parallel processing, and [Nvidia] is the best so people just programmed it to use for this purpose. They bought a lot of stuff, and then eventually it collapsed, because it doesn’t bring anything useful for society. AI does." Kagan shares. Kagan also compared crypto to AI, claiming that the uses of processing power for artificial intelligence engines were somehow more "worthwhile" than mining or computing for proof-of-work blockchains. Despite this assertion, it's essential to examine Nvidia's history and its role in supporting the development of blockchain and distributed ledger technologies, which are shaping a decentralized future. Nvidia's Silicon Legacy As a silicon manufacturer, Nvidia has been at the forefront of the tech revolution. Silicon, the second most abundant element on Earth (seventh, if we include the entire known universe), is the primary component in semiconductor materials. Its unique properties have enabled the production of integrated circuits, microprocessors, and memory chips, all of which have played a pivotal role in the digital age. The growth of silicon-based technology has spurred advancements in computing, communications, and various other industries, impacting every aspect of our lives. This also extends to how blockchain technologies were first developed from the mid-80s until the threshold moment in January 2009, which was when the genesis block for Bitcoin was mined. As technology evolves, the salient prospects of creating cohesively interlinked ecosystems and stacks is increasingly shifting toward decentralization. Blockchain and distributed ledger technologies (DLT) are key to this development, enabling greater security, transparency, and efficiency in various sectors. The rise of Bitcoin and other cryptocurrencies is just one example of how these technologies are reshaping our world. Considering the legacy of companies like Nvidia, it is vital that they continue to support and nurture the growth of decentralized technologies. While the initial software behind Bitcoin relied heavily on proof-of-work, future implementations of blockchain and DLT may require less computing power as the shift to proof-of-stake becomes more apparent in the case of Ethereum. As a leading computer hardware manufacturer, Nvidia has the potential to contribute significantly to this decentralized future. Indeed, Nvidia's mixed relationship with cryptocurrencies highlights the need for tech giants to adapt and embrace the changes driven by blockchain and DLT. Roughly two years ago, its competitors such as AMD have also begun their own initiatives into the crypto space. While their GPUs were in high demand for mining cryptocurrencies, the firm has also faced challenges, such as the enforced hashrate limitations and regulatory prompts and warnings for not disclosing the impact of crypto mining on their gaming GPUs. Crypto's Social Impact Technology pushes the boundaries of what's possible in the human imagination. It's a bit disheartening to hear of technologists such as Kagan offer a negative prospect about crypto and blockchain, which may be considered as one of the greatest innovations in recent history. While it's true that there have been challenges and inconsistencies in the crypto industry which have led to global market instability, the core technology and the ideals of freedom and financial inclusion it represents is what's important, not the individual aberrations or the prices driving people unto irrational heights. Cryptocurrencies and blockchain technology have garnered significant attention in recent years, not only for their potential to disrupt traditional financial systems but also for their wide-ranging social implications. The crypto industry is rapidly reshaping the legacy ecosystems that we've all been mired in: from banking to finance, crypto is changing the paradigm, opening its use to unbanked and underbanked demographics. With a borderless and decentralized financial ecosystem, crypto enables people without access to (or even those who prefer not to) traditional banking services to become active participants in the global economy. This fosters individual freedom and opens opportunities, especially in developing nations. In the same way, crypto and blockchain tech have also revolutionized philanthropy and social initiatives. With the use of transparent smart contracts, crypto helps ensure funds are used effectively and reach their intended recipients. Tokenization and smart contracts can also be used to facilitate innovative funding models, such as decentralized autonomous organizations (DAOs) focused on social causes. While cryptocurrencies like Bitcoin have faced harsh criticism for their energy consumption and impact, many projects in the crypto space are actively working on more sustainable solutions. It can also be leveraged to promote environmental stewardship, such as by tracking carbon emissions, enabling peer-to-peer renewable energy trading, and ensuring sustainable land management practices. It's crucial for companies like Nvidia to recognize the potential of blockchain and DLT in shaping our shared, decentralized future. By supporting and fostering these advancements, tech giants can help usher in a new era of innovation, driving progress across industries and improving the lives of people worldwide. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. Opinions stated herein are solely of the author's, and hence do not represent or reflect CryptoDaily's position on the matter. The author has no influential stakes in any of the digital assets and securities mentioned, and does not have any significant hold of or own any cryptocurrency or token discussed.
23h ago cryptodaily
Bitget Review 2023: The Exchange Continues To Stand Above Its Competition As 2023 Gets Underway
Copy trading has been one of the most reliable and trusted investment methods for the longest time, and there is no reason this trend should stop now that cryptocurrencies are gradually becoming mainstream. While there are many copy trading platforms out there, perhaps none can provide the sheer quality, safety, and diversity being offered by Bitget. The exchange, which has over 8 million users in over 100 countries and regions, is dedicated to assisting users in making smarter trading decisions by offering a safe, one-stop trading solution. It also encourages people to embrace cryptocurrency through partnerships with credible partners such as legendary Argentine footballer Lionel Messi, the Italian leading football team Juventus, and official eSports event organizer PGL. Bitget is currently ranked as a top 5 futures trading platform and a top 10 spot trading platform by CoinGecko. Understanding Bitget Before going any further, it is firstly important to understand what Bitget actually is. Bitget is a popular crypto exchange which offers users a comprehensive and user-friendly environment through which they can easily trade digital assets. The exchange provides a wide array of innovative trading resources designed to assist users in making informed trading decisions in addition to enabling them to quickly and efficiently execute their trades. Due to its sleek and easy-to-use interface as well as its dependable security measures and affordable fees, Bitget has become the preferred choice for many novice and skilled crypto traders worldwide. Furthermore, the platform supports more than 20 languages like English, Turkish, Traditional Chinese, and Vietnamese, and is accessible through all devices on desktop, iOS, and Android, making it convenient and readily available to users worldwide. Bitget’s copy trading capabilities Not only is Bitget the world's biggest cryptocurrency exchange for copy trading, but the team has recently expanded their copy trading feature to the Spot market. Moreover, as Bitget is the first centralized exchange to provide copy trading in the cryptocurrency market, traders would hence find it easy to make trades as they receive a convenient and smooth user experience. Secondly, Bitget's Copy Trading provides a new way to increase profitability while simultaneously prioritizing both flexibility and transparency. By 'copying' the trading activities of more experienced traders, rookies can make decent profits just like their superiors while the veterans can keep generating passive income and also keep growing their own influence in the crypto industry. Since its inception, Bitget's copy trading feature has brought in over 80,000 skilled traders to share their strategies and over 380,000 followers to copy. As of January 2023, there have been over 47 million profitable trades via Bitget copy trading, with profits from profitable trades totaling $300 million and profits shared by elite traders totaling USD 20 million. Additionally, Bitget launched the Bitget Insights platform in October 2022, allowing users to share their trading experience and market analysis. This newsfeed community, where verified users can share their financial analyses and opinions with their followers, assists them in making more informed financial decisions. More than 500 trading experts shared their crypto market insights on the platform in January 2023, with nearly 10,000 posts generated. What cryptocurrencies does Bitget have? Bitget offers a spot exchange function for most popular cryptocurrencies, allowing you to trade one coin for another. Recently, the platform supports USDT, USDC, BTC, ETH, BGB (the exchange's native token), and 450+ cryptocurrencies and 580+ trading pairs. Also, Bitget is the first major derivatives trading platform to launch the USDT-margined futures product in May 2019. In comparison to Coin-margined futures, USDT-margined futures are more user-friendly for newcomers to futures trading because they do not require investors to hold corresponding coins before going long or short. Bitget is also the first cryptocurrency exchange to partner with Circle to launch USDC-margined futures in July 2021. In addition, with 130 trading pairs, Bitget now supports USDT-margined futures, USDC-margined futures, and Coin-margined futures. But that’s not all, as Bitget is a top 5 derivatives trading platform, it has seen massive growth regarding trading volume and market share since the FTX collapse. Bitget's total transaction volume increased by more than 300% in 2022. In terms of 24hr Open Interest (OI), the top 10 derivatives exchanges' OI dropped approximately 40% from its high point in December 2022, while Bitget is the only exchange that increased OI, from about $800 million to $3.74 billion. As if that weren't enough, Bitget is now a top 5 derivatives trading platform in terms of volume and OI, according to CoinMarketCap and CoinGecko. What about deposits? Bitget has added new deposit channels for users who want to deposit in fiat currencies. Customers will find it easier to deposit fiat and begin trading cryptocurrencies with the new deposit rails, which have no fees. Bitget also intends to maintain its dominant market position by incorporating zero-fee deposits and enabling spot trading for specific fiat currencies. Finally, the exchange pledges to provide a safe and stable link between digital and traditional finance, as well as to improve overall user experience as well as market accessibility in order to promote broader mainstream adoption. Bitget additionally offers a wide range of trading options and services with a fair and open fee structure. Bitget's trading fee incentives include lower transaction fees for Spot trading and absolutely no fees for crypto deposits as previously alluded to. Using a credit or debit card, Apple Pay, or Google Pay are all viable options for payment. Bitget also offers a P2P cryptocurrency marketplace alongside other payment options like Wise, Skrill, Neteller, Cashapp, Adv Cash, direct bank transfer, among others. The exchange has recently launched new Fiat on-ramps. These new on-ramps include SEPA and FPS channels, which are designed to provide users with greater convenience when it comes to depositing funds and facilitating trades. Should you use Bitget then? This review is just one of many that you are bound to read online, but what makes Bitget stand out above its competition is the aforementioned services centered around copy trading, futures, spot trading, and more while ensuring that the traders are kept safe at all times. Bitget also outperforms the competition in terms of security, thanks in no small part to its $300 million protection fund as well as the Merkle Tree Proof of Reserves. Put bluntly, Bitget is a secure and regulated crypto exchange that offers cutting-edge financial services and is doing everything in its power to promote broader crypto adoption as is made evident by the aforementioned partnership with Messi. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
1 day ago cryptodaily
Maximize Your Profits With ProfitScraper's Advanced Algorithms
ProfitScraper is an investment platform that offers investors a steady stream of income through AI-powered algorithms that track prices of different assets across multiple CEXs and DEXs. The platform identifies price discrepancies and executes many instant transactions before the market corrects itself, thereby ensuring profitability. Investors on ProfitScraper enjoy automatic arbitrage, increased profitability, and advanced risk management. ProfitScraper offers a range of bonus programs that offer users additional earnings. The platform offers a guaranteed daily reward of 5.10% for every ProfitScraper user, and the smart contract calculates profitability from when you replenish the deposit, topping up your balance daily. Users can earn an additional 0.1% for every 100 BNB in their smart contract balance, making it a great opportunity for higher rewards. The longer you keep funds in the account without withdrawing, the more your daily earnings increase by 0.05% per day. For every 10+ BNB that users keep in their balance, they receive an additional 0.5% per day. This makes it an attractive proposition for investors who are looking to maximize their earnings. ProfitScraper also offers a referral program that allows users to earn a commission for every person they refer to the platform. The more people that users refer, the more they can earn. For every level-1 referral that refers directly to the platform, users will receive 6% of their deposit amount. For every level-2 referral that is made by level 1 referrals, users receive 3% of their deposit amount. To encourage users to refer more people to the platform, ProfitScraper introduced a weekly referral competition called the PrizePool. The top 10 referrers for the week win a share of the PrizePool, which is made up of 2% of all investments made on the platform in the previous week. Referring more people increases the chances of winning, and users can earn more every week by spreading the word and getting ready to win. In conclusion, ProfitScraper is an investment platform that offers users various opportunities to maximize their earnings. With AI-powered algorithms that facilitate automatic arbitrage, increased profitability, and advanced risk management, investors can enjoy a steady stream of income. The platform also offers bonus programs and a referral system that allow users to earn more by inviting others to join. With a user-friendly interface and 24/7 support, ProfitScraper is an excellent choice for investors of all experience levels. How to Join ProfitScraper App Register a BNB walletWe recommend creating a Metamask wallet or Trust Wallet and adding the Binance Smart Chain network to the wallet. If you already have a wallet, you can move on to Step 2! Connect your wallet to our platformYou must have BNB on the BEP-20 network to start earning on our platform. You can purchase BNB using the Binance exchange. Kindly note that the minimum deposit amount is 0.18 BNB. Once everything is ready, go to the Dashboard page. Top up your deposit and start earning from 5,1% per dayOn the Dashboard page click the Connect Wallet button. Enter the amount of funds you want to invest and click the Top up Balance button.Keep track of your bonus system to take advantage of the opportunity to earn extra money. Increase your income with the referral systemYou will find your referral link on the Dashboard page, which you can send to your friends or distribute to your community to receive 6% per referral level-1 & 3% per referral level-2.You can withdraw your daily earnings anytime or reinvest for more profit! Join our social media channels: Site: https://profit-scraper.com Support: https://t.me/profitscraper_support Whitepaper: https://profitscraper.gitbook.io/profitscraper-whitepaper/ Twitter: https://twitter.com/proffit_scraper Discord: https://discord.gg/qzzQfKjAgJ Telegram Channel: https://t.me/ProfitScraper Telegram Chat: https://t.me/ProfitScraperChat Medium: https://medium.com/@ProfitScraper Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
1 day ago cryptodaily
UK Treasury Halts Plans For Royal Mint NFT
The UK Treasury (HM Treasury) has halted plans to launch a Royal Mint Non-Fungible Token (NFT), as announced by Economic Secretary of the Treasury, Andrew Griffith. Initially proposed by then-Chancellor of the Exchequer and current Prime Minister Rishi Sunak in April 2022, the project aimed to make the UK a global hub for crypto-assets. However, the project's launch, which was scheduled for the summer of 2022, failed to materialize. Chancellor @RishiSunak has asked @RoyalMintUK to create an NFT to be issued by the summer.This decision shows the the forward-looking approach we are determined to take towards cryptoassets in the UK. pic.twitter.com/cd0tiailBK — HM Treasury (@hmtreasury) April 4, 2022 Harriet Baldwin, head of the Treasury Select Committee, questioned the project's status and voiced concerns about speculative tokens, stating that constituents should be cautious about investing in them. The Royal Mint and Treasury have not provided any further information on the NFT's intended use, prompting skepticism from politicians such as Shadow Chancellor Rachel Reeves (Labor MP). Despite this initial setback, Prime Minister Rishi Sunak has yet to comment on the decision or outline any solid plans for further cryptocurrency adoption in the UK. While the UK Treasury's decision to halt the Royal Mint NFT project raises questions about the future of government-backed crypto initiatives, it also brings to light crucial debates about the role of states and governments in the crypto space. What's at Stake? States or governments, such as the UK, should tread carefully when venturing into non-fungible tokens (NFTs), but it must also be said clearly: the same goes for the crypto community. A critical stance is necessary to be maintained, especially when interacting with any crypto project or initiative that's government-funded. Non-fungible tokens are supposed to be, and are, by design, inherently decentralized. Governments are, on the contrary, the exact opposite. The decentralized nature of crypto clashes with the fundamental components of a state or government, which are made on the foundational principle of authority. An apparatus of control cannot go forth and call itself a supporter (whether by sympathy or by mere association) of decentralization, because it negates the existing platitudes of state authority. There's also the position of regulatory challenges to consider: governments are ipso facto the same bodies that control and oversee the regulated spheres of the crypto industry. The idea of a government-backed NFT initiative, while laudable for its ideals, requires new regulations and enforcement mechanisms to properly execute and ensure the appropriate governance of digital assets. More work for the government means more public resources poured into something that not everyone agrees with or supports. Another tangent is that of possible conflicts of interest if a government launches an NFT project: if the government itself is also responsible for regulating the broader crypto space, what level of transparency could one hope for, and to what extent can a citizenry trust that the government will not exercise its authority to prioritize or defer resources for this project? Such a duality would likely open accusations of bias, potentially hindering the development of a fairly regulated and open crypto ecosystem. For instance, governments may use these technologies to exert control over citizens or bypass international sanctions, which could ultimately harm the reputation and credibility of the entire crypto space. While the idea of government-backed NFTs may seem appealing at first, the potential risks and complications associated with such projects should give both governments and the crypto community reason for caution. The crypto space thrives on decentralization and innovation, and excessive government involvement could stifle the very qualities that have made it so attractive in the first place. As the UK resolves to become a global crypto hub, it has also been mired with inconsistencies in its stance on crypto, Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. Opinions stated herein are solely of the author's, and hence do not represent or reflect CryptoDaily's position on the matter. The author has no influential stakes in any of the digital assets and securities mentioned, and does not have any significant hold of or own any cryptocurrency or token discussed.
1 day ago cryptodaily
HK Regulators to Meet with Crypto Firms to Discuss Banking
As part of its goal of becoming a digital asset hub, Hong Kong is taking another step to ensure this is possible. Regulators of the special administrative region will soon host a meeting between digital asset firms and banks to discuss easing financing for the crypto sector. Bloomberg reports that Hong Kong regulators will facilitate a “direct dialogue” on April 28 at the Hong Kong Monetary Authority (HKMA) to share “practical experiences and perspectives” for crypto firms as it relates to opening and maintaining bank accounts. The HKMA will hold the meeting in conjunction with the Securities and Futures Commission. Hong Kong regulators are convening a meeting between crypto firms and bankers in a bid to ease financing for the sector https://t.co/eXZZ277mXr — Bloomberg (@business) March 28, 2023 The city announced in October that it would position itself as a hub for digital asset and Web3 firms. Hong Kong has since been introducing regulations to attract firms to its shores and has proven successful in doing so, as over 80 foreign and Mainland China digital asset firms have expressed their interest in establishing roots in the city and obtaining operational licenses. The sector, however, faces significant challenges in securing banking services for basic needs such as payroll accounts due to traditional banks’ hesitancy and strict KYC and anti-money laundering requirements. Is Beijing Backing Hong Kong’s Crypto Aspirations? Crypto firms in Hong Kong recently received a glimmer of hope from a very unexpected source: Chinese state-owned banks. Previous reports indicate that several Chinese state-owned banks with branches in Hong Kong have turned crypto-friendly as they offer their services to local crypto companies. The Hong Kong branches of the Bank of Communications, Bank of China and Shanghai Pudong Development Bank have either begun offering banking services to local crypto firms or have made inquiries into doing so. Despite crypto trading being banned in Mainland China since September 2021, rumour has it that banks from Mainland China have been reaching out to crypto-related firms suggesting that Hong Kong’s goal of becoming a global crypto hub may have Beijing’s support. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
1 day ago cryptodaily
CZ Responds To “Unexpected And Disappointing” CFTC Lawsuit
Binance CEO Changpeng Zhao has responded to the CFTC charges, as the world’s largest exchange saw depositors withdraw large sums following the news of the charges brought against the company. Users ended up withdrawing around $400 million in 24 hours. Zhao Responds To Charges The CEO of Binance, Changpeng Zhao, has reacted to the charges brought against the cryptocurrency exchange by the Commodity Futures Trading Commission (CFTC). Zhao called the accusations “unexpected and disappointing” and denied any wrongdoing on his or the exchange’s part. Zhao’s disappointment was further exasperated because the exchange had been cooperating with the exchange over the past couple of years. Zhao went on to add, “The complaint appears to contain an incomplete recitation of facts, and we do not agree with the characterization of many of the issues alleged in the complaint.” The Allegations Against Binance And Zhao The CFTC, on the 27th of March, 2023, hit Binance with a barrage of accusations in a lawsuit, accusing the CEO of indulging in insider trading and evading KYC (Know Your Customer) regulations. The charges also included allegations that Binance had been trading on its own platform, in addition to claims that there were 300 “house accounts” directly or indirectly owned by Zhao. However, the Binance CEO flatly denied the allegations, stating that Binance does not and never will trade for profit or “manipulate” the market under any circumstances. He went on to add that all company revenues were in crypto and needed to be converted into fiat from time to time to cover expenses related to the functioning of the platform. Zhao stated, “Personally, I have two accounts at Binance: one for my Binance Card and one for my crypto holdings. I eat our own dog food and store my crypto on Binance.com. I also need to convert crypto from time-to-time to pay for my personal expenses or for the Card.” The term “eat your own dog food” is an expression used to refer to companies that use their own products or services to ensure the smooth functioning of their internal operations. Additionally, Zhao stated that Binance had implemented a 90-day no-trading rule for all employees. This meant that employees could not, under any circumstances, sell a coin within 90 days of their most recent purchase. What About KYC Allegations? Another set of allegations by the CFTC stated that Binance had been evading KYC controls and regulations. However, Zhao countered by stating that Binance was the first global crypto exchange that implemented strong and mandatory KYC regulations on the platform. He also added that Binance.com blocks all US-based users based on location and IP address. However, the CFTC accuses the exchange of encouraging US-based traders to use VPNs (Virtual Private Networks) to bypass any blocks. Depositors Panic As expected, markets have felt a chill thanks to the developments, with around $30 billion leaving the crypto space in the past 12 hours. As a result, the market capitalization has dropped to $1.17 trillion. The platform itself found itself in the doldrums as depositors, panicking due to the charges brought by the CFTC, withdrew around $400 million on Ethereum, according to data sourced by Nansen. According to the Nansen data, “Savvy Traders” have also moved $9 million from Binance over the past 24 hours. The developments show the skittishness of traders in the crypto space in the face of regulatory uncertainty. Furthermore, Paxos, a former issuer of the BUSD stablecoin, burned over $155 million worth of BUSD in four hours, citing investor flight. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
1 day ago cointelegraph
Binance Bitcoin balance drops by 3.4K BTC within 24 hours of CFTC lawsuit
Binance’s Bitcoin balance was reduced by over 3,900 BTC in the past week, of which 3,400 BTC were pulled out in the last 24 hours alone.
1 day ago cryptopotato
G7 Countries Set a Date for Imposing Global Crypto Regulation After the Recent Banking Crisis (Report)
The G7 nations could supposedly introduce a global cryptocurrency regulatory framework by July 2023.
1 day ago zycrypto
Bitcoin Whale MicroStrategy Repays Silvergate Loan And Buys Another $150 Million Worth Of BTC
Michael Saylor’s MicroStrategy has fully repaid the $161 million outstanding balance on its $205 million bitcoin-collateralized loan from defunct crypto-focused bank Silvergate.
2 days ago cryptodaily
Key Recovery Attacks Discovered in Popular for MPC Wallets 
According to a report by Verichains, over $8 billion worth of digital assets could be at risk following a recently discovered vulnerability in multi-party computing (MPC) protocols. Verichains, a leading blockchain security solutions provider announced that it had discovered critical key recovery attacks in Threshold Signature Scheme (TSS), an MPC-based protocol that enables multi-party signatures on the blockchain without revealing their private keys. As blockchains move toward decentralization and enhanced security, convenience is often overlooked. This gave rise to multi-sig wallets that offer convenience while maintaining the standard of security and decentralization. As such, many top financial institutions and custodial wallet services have implemented MPC protocols to secure digital assets. Multiparty wallets and digital asset custody solutions such as BNY Mellon (the largest global custodian bank), Revolut (Europe’s largest neo bank), ING, Binance, Fireblocks, and Coinbase have all implemented MPC protocols. To ensure the security of funds, these custodial institutions ensure complete decentralization by employing a TSS, a cryptographic protocol that allows a group of parties to generate a signature on a message without revealing their individual secret keys. This way, the funds can be controlled by a distributed set of signers who can cooperate to authorize transactions. Recently, many companies are implementing MPC protocols for threshold Elliptic Curve Digital Signature Algorithm (ECDSA), the security verification protocol Bitcoin uses, based on GG18, GG20 and CGGMP21 algorithms. Having researched threshold ECDSA since October 2022, Verichains found that nearly all TSS implementations are vulnerable to key recovery attacks. This means that a single malicious party in 1 or 2 signing ceremonies can extract a full private key, which puts the funds of the other signatories at risk. “The attack leaves no trace and appears innocent to the other parties,” the report states. As such, over $8 billion in digital assets in custody are at risk across various wallets, non-custodial key infrastructure, and cross-chain asset management protocols. Notwithstanding, assets stored using the threshold ECDSA that are not on the blockchain could also be vulnerable to hacks. Verichains recommended that companies and organisations that use vulnerable ECDSA prioritize implementing robust security measures” and “seek review from security experts to ensure their platforms' safety and security”. The blockchain security firm further stated it has informed all relevant parties of the vulnerabilities and will await the solutions to be implemented before releasing the final report. "Verichains has a strong commitment to responsible vulnerability disclosure, and we take care and considered steps when disclosing attacks, especially given the wide range of impacted projects and significant user funds at risk,” said Thanh Nguyen, Co-Founder of Verichains and former CPU Security Lead at Intel. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
2 days ago coindesk
G-7 Will Push for Tighter Global Crypto Regulations: Kyodo
Discussions on a global framework will speed up ahead of a May meeting of finance ministers and central bankers.
2 days ago cointelegraph
G7 to collaborate on tighter crypto regulation: Report
Leaders from Japan, the United States, the United Kingdom, Canada, France, Germany and the European Union are expected to outline a global cooperative strategy for digital assets in May.
3 days ago zycrypto
Bitcoin Maximalist Matthew Kratter Asserts $1 Million Value For BTC, Counters Balaji’s Forecast
Bitcoin is going to tap $1,000,000, but not as Balaji Srinivasan predicts, veteran Bitcoin crusader Matthew Kratter has asserted.

About Balancer?

The live price of Balancer (BAL) today is 6.9219 USD, and with the current circulating supply of Balancer at 48,575,051.56 BAL, its market capitalization stands at 336,229,929 USD. In the last 24 hours BAL price has moved 0.5012 USD or 0.08% while 9,387,629 USD worth of BAL has been traded on various exchanges. The current valuation of BAL puts it at #116 in cryptocurrency rankings based on market capitalization.

Learn more about the Balancer blockchain network and how it works or follow the price of its native cryptocurrency BAL and the broader market with our unique COIN360 cryptocurrency heatmap.

Balancer is a highly versatile automated portfolio manager and decentralized exchange (DEX) that allows users to trade cryptocurrency assets and create liquidity pools with up to eight different assets in any ratio. Balancer was founded in 2018 by Fernando Martinelli and Mike McDonald. The project raised $3 million in 2020 and is maintained by Balancer Labs.

Balancer's liquidity pools can be likened to a self-balancing crypto index fund where management fees, rather than being paid to fund managers, are paid to liquidity providers. Similar to other decentralized exchanges like Uniswap and Sushiswap, Balancer allows users to exchange between various cryptocurrency assets in its liquidity pools—which can contain up to eight different assets in fixed or variable weighting, allowing for automated rebalancing.

BAL cryptocurrency serves as the governance token of the decentralized platform and also as an additional reward for users who deposit tokens into Balancer's liquidity pools, besides the transaction fees they earn.

BAL price

According to our BAL/USD live price chart, BAL coin began trading in mid-2020 at around $20 and rapidly rose to reach its 2020 high of just over $38 in August. However, it lost those gains within a few weeks and fell below its listing price, eventually bottoming out at its 2020 low of around $8 on November 4. BAL price then made a strong turnaround and began ascending, closing the year at around the $14 mark. 

BAL price in USD terms took off rapidly at the start of 2021 amid widespread market optimism, maintaining the trend of strong growth over several months and later reaching an all-time high of $75 on May 4, 2021, achieving a fully diluted valuation of nearly $500 million. BAL coin's price then suffered a massive drop in the following weeks and it lost much of its early 2021 gains. 

Following the rapid drop in the BAL coin price, which lasted for about three weeks, BAL continued to slowly trend lower for the rest of 2021, eventually reaching its 2021 low of just under $13 in December 2021. The price of BAL failed to make a convincing recovery through the rest of 2021 and has slowly trended lower since the start of 2022, reaching an all-time and yearly low of around $3.6 on June 18, 2022.

How BAL works

Balancer utilizes an automated market maker (AMM) system to facilitate trades on its platform. An AMM is a smart contract that allows digital assets to be traded automatically and without the need to match a buyer and seller. Users who deposit their tokens into one of Balancer's liquidity pools earn a reward in the form of a portion of the platform's trading fees and liquidity pool (LP) tokens.

The Balancer platform serves two major sets of users: liquidity providers and traders. It allows liquidity providers to execute various strategies according to their preferences and enables traders to find the best price for trading an asset on its DEX. If a trader wishes to trade an asset via Balancer's exchange, its algorithms scan for the best price across all its liquidity pools. Once the pool offering the best price is found, it trades the desired assets via that pool, and in doing so, rebalances the pool's weighting. The pool offering the best price for the asset is, by design, the one that needs rebalancing the most. This way, Balancer is able to help traders find the best prices and automatically rebalance its liquidity pools according to their weighting simultaneously.

Balancer's liquidity pools work similarly to index funds, except that the assets in them are automatically rebalanced. In contrast to typical index funds, the liquidity providers who deposit their assets into the pool earn rather than pay fees, since there is no need for a fund manager.

Balancer news, updates & highlights

Balancer V2

In May 2021, an upgrade to the Balancer protocol dubbed "Version 2" (or "V2") was launched. It promised to reduce the gas fees required to use the platform by administering all liquidity pools from a single "vault". The vault is a smart contract that holds and manages all the assets in all Balancer pools. Several popular decentralized finance (DeFi) protocols, such as Aave, Gnosis, and Ocean Protocol, were listed as partners for the upgrade. Balancer V2 also introduced "asset managers," which are external smart contracts nominated by pools that have full power over the tokens deposited in the vault by their nominator pool. Balancer offered a $2 million bug bounty ahead of the launch of its upgrade.

BAL token

Balancer didn't originally launch with its BAL token. The token was only just distributed to users in June 2020, shortly after lending protocol Compound announced the launch of its own COMP token. The total supply of BAL tokens is 100 million. 25% of BAL's total supply was reserved for the development team, advisers, and investors. 

Five million tokens were set aside for an ecosystem fund to promote the growth of the platform, and another five million were set aside for future fundraising rounds. 65 million out of the supply are to be distributed to users.

Fundraising

Balancer Labs raised $3 million in March 2020—just before the BAL coin was launched—in a private sale of 5 million BAL tokens. The firm has gone on to raise an additional $29.3 million over two more rounds, both taking place in 2021. 

Frequently asked questions about BAL cryptocurrency

  • Can you mine or stake BAL?

BAL, being a governance token, can neither be mined nor staked. However, you can earn BAL tokens by providing liquidity to one of Balancer's pools.

  • Which are some of the best BAL wallets?

BAL is an ERC-20 token, so it is compatible with all wallets that support the standard. Some of the best ERC-20 wallets include Metamask and Trust Wallet. You may also store your BAL tokens in compatible hardware wallets like Ledger or Trezor.

  • What can you do with BAL tokens?

BAL is a governance token, so it grants you the ability to take part in shaping the future of the protocol by voting for or against governance proposals. The more BAL tokens you hold, the greater your voting power. You earn BAL as a reward for providing liquidity to one of Balancer's pools, in addition to a portion of Balancer's transaction fees.

  • How can you buy BAL?

You can buy BAL with your local currency or other cryptocurrencies you own by trading pairs like BAL/BTC, BAL/USDT, or BAL/ETH via an exchange like HitBTC, Binance, Kraken, or OKX.

Balancer Price6.9219 USD
Market Rank#116
Market Cap336,229,929 USD
24h Volume9,045,430 USD
Circulating Supply48,575,051.56 BAL
Max Supply96,150,704 BAL
Yesterday's Market Cap336,780,543.31 USD
Yesterday's Open / Close6.4328 USD / 6.934 USD
Yesterday's High / Low6.9995 USD / 6.3702 USD
Yesterday's Change
0.08% ( 0.5012 USD )
Yesterday's Volume9,387,629.16 USD
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