This article provides an update (as of September 18) on the cryptoasset market, with a particular focus on the following digital assets: Binance Coin (BNB), Neo (NEO), and VeChain (VET).
To give you a rough idea of how well the crypto market is doing today, 47 of the top 50 cryptoassets (by market cap) are currently in the green (i.e. up against USD).
As of 11:53 UTC on September 18, the total crypto market cap is around $359.44 billion, up 2% in the past 24-hour period.
All market data used in the remainder of this article was taken from CryptoCompare around 11:59 UTC on 18 September 2020.
Binance Coin (BNB)
BNB is currently trading around $28.20, up 4.99% vs USD in the past 24-hour period.
In the past two weeks, BNB’s price has gone from $21.47 to $28.20, which is an increase of 31.34% vs USD.
Earlier today, Binance announced the “BNB Pioneer Burn Program”, which is “a new initiative that aims to help eligible users who lose tokens as part of mistakes they made while trying out the newly-launched Binance Smart Chain.” Under this program, Binance will “cover users’ losses for accepted cases” and consider these lost tokens as burnt under its quarterly BNB token burn.
Neo (NEO)
NEO is currently trading around $25.40, up 18.19% vs USD in the past 24-hour period.
Flamingo Finance is an interoperable full-stack DeFi Protocol that runs on the Neo blockchain. Interoperable DeFi means “frictionless access to crypto assets on Neo, Ethereum, Ontology, COSMOS SDK-based Networks.”
Yesterday, the Flamingo Team announced its roadmap for the launch of Flamincome, a new “yield boosting” tool that will allow its users to “enjoy multiplied yields on both Ethereum (Flamincome) and Neo (Flamingo) at the same time.”
Su Zhu, Co-Founder, CIO, and CEO of Singapore-based crypto-focused hedge fund Three Arrows Capital, explained yesterday why yield farmers on Ethereum might want to take a closer look at this cross-chain DeFi solution:
VeChain (VET)
VET is currently trading around $0.0144, up 13.39% vs USD in the past 24-hour period.
Yesterday, VeChain Foundation announced that VeChain had officially joined the China Animal Health And Food Safety Alliance (CAFA) as one of the council members and that VeChain would be “the sole public blockchain technology provider in the alliance, providing technical and infrastructural support for the council members.”
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
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