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Top 5 Cryptocurrencies of the Week -Week 39

This article is all about the top 5 cryptocurrencies that displayed good performance in the last seven days. Let’s take a look at it in more detail.

The year 2022 was one of the most destructive years for cryptocurrencies. Crypto investors witnessed significant price drops from all-time highs. Yet, many altcoins are displaying good performance. This article is all about the top 5 cryptocurrencies that displayed good performance in the last seven days. Let’s take a look at it in more detail.

5.Top 5 Cryptocurrencies: Uniswap (UNI) +9.14%

Uniswap is a decentralized exchange (aka DEX) founded on the Ethereum blockchain that also serves as a coin. While its token holders handle it, its Blockchain is open source and available for everyone to read and edit. It works as a DEX and provides users access to its platform for peer-to-peer market making. It is less pricey to operate and employ for users because of the lack of this interference. In the last 7 days, the UNI price has increased by almost +9.14%, just enough for a spot on our top cryptocurrencies list.

4.Top 5 Cryptocurrencies: Helium (HNT) +11.67%

Helium Network is a decentralized wireless network that allows devices to connect wirelessly to the Internet anywhere in the world. It is a secure and open-source network. Developers can create low-power, Internet-connected devices at a more affordable and rapid speed. In the last 7 days, the HNT price has increased by almost +11.67%, just enough for a spot on our top cryptocurrencies list.

3.Top 5 Cryptocurrencies: Reserve Rights Price (RSR) +19.97%

The Reserve Rights (RSR) token has different goals, but the primary one is to deliver a tool to keep the dollar value of the RSV stablecoin. The Reserve protocol was created to scale supply based on demand, thus preserving all the collateral on the blockchain. In addition, it was also designed to deliver security and serve as an option to the centralized currencies currently in use. Therefore, cryptocurrencies managed by smart contracts are employed to hold their value. In the last 7 days, the RSR price has increased by almost +19.97%, just enough for a spot on our top cryptocurrencies list.

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2.Top 5 Cryptocurrencies: Quant (QNT) +22.74%

The Quant was founded in June 2018 to secure blockchains and networks on an international hierarchy, without reducing the power and interoperability of the network. It is the foremost project to fix the interoperability problem via the creation of the first blockchain operating system. In the last 7 days, the QNT price has increased by almost +22.74%, just enough for a spot on our top cryptocurrencies list.

1. Top 5 Cryptocurrencies: Terra Classic (LUNC) +41.88%

The LUNA Coin is the cryptocurrency of the Terra Network. Terra has designated itself the task of employing algorithms to uphold the stablecoins price stable. With this, Terra wants to create entirely decentralized, algorithmic stablecoins that are different from the support of a physical currency. In the last 7 days, the LUNC price has increased by almost +41.88%, just enough for a spot on our top cryptocurrencies list.

Source: Altcoin

Altcoins

Binance re-enters the Japanese market with purchase of SEBC exchange

Crypto exchange Binance has reentered the Japanese market after acquiring a 100% stake in Sakura Exchange BitCoin (SEBC), a regulated cryptocurrency exchange in Japan. KEY TAKEAWAYS SEBC is a Japan Financial Services Agency (JFSA) regulated entity. By acquiring SEBC, Binance aims to offer Japanese-regulated services through the exchange. At the time of the Binance acquisition, […]

The post Binance re-enters the Japanese market with purchase of SEBC exchange appeared first on CoinJournal.

Crypto exchange Binance has reentered the Japanese market after acquiring a 100% stake in Sakura Exchange BitCoin (SEBC), a regulated cryptocurrency exchange in Japan.

KEY TAKEAWAYS

  • SEBC is a Japan Financial Services Agency (JFSA) regulated entity.
  • By acquiring SEBC, Binance aims to offer Japanese-regulated services through the exchange.
  • At the time of the Binance acquisition, the Tokyo-based exchange supported 11 trading pairs; mainly cryptocurrency-Japanese Yuan pairs.

Despite the tense situation in the crypto market following the collapse of FTX which seems to be taking other crypto entities like BlockFi down with it, Binance seems to be spreading its wing further and further. The SEBC acquisition comes weeks after Binance pulled out of its planned FTX rescue plan citing issues with FTX’s financial book.

Expanding into Japan

In the past few years, Binance has been expanding its business across various countries as it stamps its authority within the crypto space. So far, the crypto exchange has secured regulatory approvals in France, Italy, Spain, Bahrain, Abu Dhabi, Dubai, New Zealand, Kazakhstan, Poland, Lithuania, and Cyprus.

The acquisition of Sakura Exchange BitCoin marks the exchange’s first entry into East Asia. Most importantly, SEBC is already a regulated entity which means Binance will be able to offer regulated services in Japan, which is a major economy in East Asia.

In a press release announcing the acquisition of the Japanese exchange, the general manager of Binance Japan, Takeshi Chino, said:

“The Japanese market will play a key role in the future of cryptocurrency adoption. As one of the world’s leading economies with a highly-developed tech ecosystem, it’s already poised for strong blockchain uptake. We will actively work with regulators to develop our combined exchange in a compliant way for local users. We are eager to help Japan take a leading role in crypto.” 

At the time of the acquisition, SEBC offered customer consultation services and crypto brokerage services supporting 11 crypto-Japanese Yuan trading pairs. The trading pairs include BTC/JPY, ETH/JPY, BCH/JPY, XRP/JPY, LTC/JPY, ETC/JPY, XEM/JPY, MONA/JPY, ADA/JPY, XYM/JPY, and COT/JPY.

The post Binance re-enters the Japanese market with purchase of SEBC exchange appeared first on CoinJournal.

Source: CoinJournal: Latest Bitcoin, Ethereum & Crypto News

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