Latest news with #BNBSmartChain
The South African
19-05-2025
- Business
- The South African
Blockchain & iGaming: The Emergence of Native Tokens in Online Gambling Sites
Blockchain technology has had a profound impact on the online gambling industry in recent years. One of the latest developments in this area is the emergence of native cryptocurrency tokens tailored for specific gaming ecosystems. Offered by some of the best crypto casinos online, these tokens not only facilitate fast and smooth payment transactions but also drive player engagement to a whole new level. So, what exactly are they, and why do they matter? This article explores the transformative world of native cryptocurrency tokens in online gambling sites, exploring their characteristics and benefits. The introduction of Bitcoin, Ethereum, Litecoin, and other popular cryptocurrencies has brought about faster, more secure, and hassle-free transactions in online gambling. The many advantages of these digital assets have inspired some online gambling sites to develop their crypto tokens. These native tokens are created for use within a particular gambling site's ecosystem. They are usually built on existing blockchain networks like Ethereum (ERC-20), Binance Smart Chain (BEP-20), Solana, etc. The beauty of these native tokens is that they operate like any other cryptocurrency in online casinos. They are actual cryptocurrencies that have real value outside the gaming platform. So, you can buy them on some of the best exchanges online and then use them to fund your casino accounts. Once credited, you can use the tokens to play exciting titles, including table games, slots, Jet X game, roulette, etc. Similarly, when you rake in some winnings from the site, you can use the tokens to process a withdrawal. Recently, more casinos have started to adopt the native token model. The table below shows information on some of the top casinos that have developed their own crypto tokens. Native Token Gambling Site Blockchain network $BC BNB Smart Chain (BEP-20) $ROLL Rollbit Ethereum blockchain $DICE Mega Dice EOS blockchain $WIN WINk (formerly TRONBet) TRON $BFG BetFury BNB Smart Chain $LBLOCK Lucky Block Ethereum chain Native cryptocurrency tokens is that they offer distinct benefits over traditional fiat and sometimes, regular cryptocurrencies. Let's examine some of their advantages. One of the most significant benefits of native crypto tokens is that they facilitate swift and hassle-free payment transactions like any regular cryptocurrency. Users can easily use these coins to move funds in and out of their gambling sites without any unnecessarily complex barriers or delays. These tokens are also known to feature reduced transaction fees. Like regular cryptocurrencies, native coins also improve the security and privacy that players can enjoy when engaging in their favourite gambling activities. Thanks to its cryptographic encryption, the blockchain technology inherently provides a safe gaming environment. Also, while they typically reserve the right to request it in some situations, gambling sites with native crypto tokens don't make KYC verification a mandatory process. This allows for a more anonymous gaming experience. A core feature usually found with some of the best gambling sites that provide native crypto tokens is the integration of staking and yield opportunities. This allows players to use their native digital assets to earn passive income by locking them into smart contracts. The casinos also benefit from this, as it aids the development of the crypto ecosystem, driving growth. Sites with native crypto assets are also known to provide specialised and innovative loyalty and rewards systems driven by their tokens. While these rewards programs generally vary from one site to another, they usually work around the usage of the native coins. The goal is to get players to process deposits with the coins and use them to play games. In return, players get to enjoy incredible rewards in the form of more tokens. A recent growing trend in crypto gambling sites with native coins is the promotion of governance rights within the decentralised gambling ecosystem. This provides token holders with rights to vote on certain key issues on the site, such as which games to feature or what feature to develop next. Despite their exciting innovative potentials, the integration of native tokens on online gambling sites is not without its risks, challenges, and hurdles. Regulatory uncertainties of the blockchain ecosystem are one of the biggest hurdles to the all-around adoption of native cryptocurrencies. This is because different jurisdictions have varying opinions regarding the usage of cryptocurrencies. Other challenges here include: Volatility of tokens Smart contract risks Liquidity concerns Scalability issues The emergence of native cryptocurrency tokens is undoubtedly the next evolutionary phase of blockchain's innovations in the iGaming industry. Many gambling sites, such as BC Game, Lucky Block, Mega Dice, and many others, have adopted this model. This is no surprise, as the tokens allow gaming sites to build self-contained ecosystems that benefit both the sites and casino players. While the innovation has some challenges and risks, the future looks promising for native crypto tokens on gambling sites. And we can expect even more platforms to embrace this trend in the coming years.
Business Mayor
08-05-2025
- Business
- Business Mayor
Binance Coin's $749 target: Decoding odds of a 23% BNB rally
BNB's network growth hit its second-highest level in 2024, signaling stronger on-chain user engagement. The altcoin's chart structure hints at a breakout, possibly setting a new yearly high if momentum holds. Over the past 24 hours, bullish momentum appeared to build steadily. Binance Coin [BNB] rose 1.36%, inching its monthly return toward double digits. Using market data and on-chain activities, AMBCrypto identified a clear path to a potential rally for BNB. Network growth puts BNB in a good spot The spotlight fell on the BNB Smart Chain, where activity spiked sharply in recent days. In the past day, net worth utilization rose to an impressive 24%, a major climb that suggests continued use of BNB protocols. This marks the second-highest surge this year, following a 25% increase recorded in February. Source: BscScan AMBCrypto linked the growth in BNB utilization to the rise in active addresses on the BSC network. Since the 2nd of May, active BSC addresses have nearly doubled, climbing from 1.15 million to 2.056 million. This surge suggests steady adoption, reinforcing expectations that BNB utilization will remain high. Additionally, Unique Wallet Addresses, representing new users, have reached 552.26 million, with 978,384 added daily. While this reflects growing awareness, it doesn't confirm that these new addresses have completed transactions on the blockchain. However, they hold the potential to engage in transactions and acquire BNB for usage. A 23% upswing could be near On the daily chart, BNB has formed an inverted head-and-shoulders pattern. This pattern typically signals the start of a price rally once a breakout occurs. Source: TradingView From the coin's current price level, a rally could push it to approximately $749, marking a 23.03% gain. A move to $749 would represent the asset's highest price point this year. Read More Terra Luna Classic price hiked by The current adoption trend and market buildup could provide the momentum needed to drive the asset upward. Major obstacle present However, there's one catch. Spot traders seemed to be unloading their holdings. Over the past day, $8.42 million worth of BNB was transferred to exchanges and sold. Source: CoinGlass This activity likely reflects profit-taking.
Arabian Post
25-04-2025
- Business
- Arabian Post
TON to Discontinue Toncoin Bridge to Ethereum and BNB Smart Chain on May 10
The Open Network has announced that its Toncoin Bridge, facilitating transfers between the TON blockchain and Ethereum and BNB Smart Chain , will be permanently shut down on May 10, 2025. Post this date, users will no longer be able to bridge Toncoin from TON to these networks. However, assets already bridged will remain claimable. Bridging into TON will still be available temporarily, with a separate end date to be announced. The Toncoin Bridge has been a pivotal component in TON's cross-chain interoperability, enabling users to transfer assets between the TON blockchain and Ethereum and BSC. Its discontinuation marks a significant shift in TON's approach to cross-chain interactions. In anticipation of the bridge's shutdown, TON has been promoting alternative bridging solutions. These include platforms like Symbiosis, Layerswap, Rubic, and Retro Bridge, which offer support for a wide range of networks beyond Ethereum and BSC. These alternatives aim to provide users with continued access to cross-chain functionalities, albeit through different channels. The decision to discontinue the Toncoin Bridge comes amid broader strategic changes within the TON ecosystem. The TON Foundation recently appointed Maximilian Crown, co-founder of MoonPay, as its new CEO. This leadership change follows a $400 million investment from global venture capital firms, signaling a renewed focus on scaling blockchain adoption and integrating with Telegram's extensive user base. Market reactions to these developments have been measured. As of April 25, 2025, Toncoin is trading at approximately $3.25, with a market capitalization of around $8.15 billion. While this reflects a decline from its all-time high of $8.27 in 2024, the cryptocurrency has shown resilience amid the evolving landscape. Price Prediction 2025 – 2030 – 99Bitcoins) Arabian Post – Crypto News Network
Yahoo
18-04-2025
- Business
- Yahoo
BNB chain burns tokens worth $900M — Price barely budges
On Apr. 16, BNB Chain burned 1.57 BNB tokens worth $916 million in the 31st quarterly token burn. Binance co-founder Changpeng Zhao "CZ" shared the announcement on X (formerly Twitter). BNB's circulating supply after the latest burn stood at 140 million tokens. The Binance team uses an auto-burn system to reduce its total supply to 100 million BNB tokens. The mechanism adjusts the amount of BNB to be burned based on BNB's price and the number of blocks generated on BNB Smart Chain (BSC) during the quarter. Such regular token burns won't take place as soon as the BNB token supply reaches 100 million. A token burn slashes the circulating supply, leading to the token's scarcity. If there is a demand for the token, the price of the scarce token is supposed to surge in value. It also encourages token holders to HODL for a long time. HODL, or 'hold on for dear life,' is a term that refers to the practice of holding crypto assets even during bear markets. The latest burn event did not have any significant impact on the price of BNB, at least in the short term. It has risen barely 0.85% since the transaction and was trading at $583.51 at press time. The token's price is still more than 25% lower than its all-time high (ATH) of $788.84 that it hit on Dec. 4, 2024. The rather dull price action is indicative of the broader bearish sentiment in the crypto market of late. With a market capitalization of $85 billion, BNB is the world's fifth largest cryptocurrency.
