Binance US Lists Cryptocurrency that Surged Nearly 100% Last Week

31 Oct, 2019 Updated 17 Aug, 2024

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Nivesh from Engineering Background is a full-time Crypto Analyst at Coingape. He is an atheist who believes in love and cultural diversity. He believes that Cryptocurrency is a necessity to deter corruption. He holds small amounts of cryptocurrencies. Faith and fear are two sides of the same coin. Follow him on X at @nivishoes or mail him at nivesh(at)coingape.com

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CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

The San Fransisco registered division of Binance has announced the addition of NEO and Cosmos (ATOM) as their 22nd and 23rd cryptocurrencies.

As stated,

Trading for the NEO/USD, NEO/USDT, ATOM/USD, and ATOM/USDT trading pairs will open on October 31, 2019, at 9:00 pm EST /6:00 pm PST.

neousd chart — NEO/USD 1-Day Chart on Huobi (TradingView)

NEO gained enormously after the Chinese President announced the nation’s interest in becoming a blockchain leader.

The announcement had a historical affect on Bitcoin’s price. It was even more beneficial for some cryptocurrencies famous in China, like NEO and Tron [TRX]. While Tron still awaits listing at the US wing, NEO has taken the lead on that.

NEO gained nearly 100% following Xi Xinping’s speech. The price of NEO is still trading above 60% from its low at $6.6 on 23rd October.

The price of NEO at 3: 15 hours UTC on 31st October 2019 is $10.75. It is trading 3.3% higher on a daily scale. The price seems to be facing resistance from the 200- daily moving average at the moment.

Entry in the US Limited?

While Binance.com supports which serves customers globally lists a plethora of cryptocurrencies, Binance in the US does not have the freedom. NEO and ATOM will be only the 22nd and 23rd listed currency on their platform. Top cryptocurrencies like EOS, XRP, Bitcoin Cash [BCH], and Tron are still not added to Binance US.

Moreover, Poloniex will spin out of Circle and US from 1st November 2019. The regulatory agencies in the US have made it tough for exchanges as Bittrex and Poloniex have also made considerable changes to their platform.

Hence, it seems like Binance is ahead in dodging the regulatory hurdles to enter the US markets. The leading cryptocurrency exchange recently also enabled futures and lending on their global platform.

Do you think the markets will see another altseason as adoption begins to increase? Please share your views with us.

Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.

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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.