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Binance joins Neo Council, 2.1 million NEO used to secure two Top 21 positions

Binance Staking has secured two positions on the Neo Council. At the time of press, Binance has voted with approximately 2.1 million NEO to secure its places in the Top 21. Binance is the world's largest custodial exchange with nearly US $9.07 billion in 24-hour volume, according to CoinCap.io. Binance Staking is a service that allows users to earn distributions offered on proof-of-stake or other networks that distribute rewards to participants. The platform provides two types of staking: flexible and locked. Flexible staking offers fewer rewards but allows users to move the underlying assets at any time. Locked staking requires users to deposit a token for a specific time frame but provides higher yields. For example, a minimum of 0.01 NEO locked for 15, 30, 60, or 120 days will earn increasing yields of 5.79%, 7.49%, 8.79%, and 13.56% (made in GAS distributions), respectively. In the announcement post, Neo Global Development said "Binance Staking's new membership in the ...
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South Korea’s Bitcoin Trading Volumes on LocalBitcoins Reach New Record Levels



Bitcoin (BTC) trading volumes in South Korea have recently reached new levels on peer-to-peer (P2P) exchange LocalBitcoins, according to charts on BTC statistics service Coin Dance.

According to the data, bitcoin weekly trading volumes have surged over the past two weeks, with the latest week recording a new high of around 219 million South-Korean won ($185,000).

Founded in Finland in 2012, LocalBitcoins offers over-the-counter trading of local currency for bitcoin and operates as a P2P trading platform. The Finnish crypto trading platform is especially popular in Latin America, with Venezuela and Colombia having reportedly accounted for 85% of LocalBitcoins's trading volumes by February 2019.

According to data from crypto analytics website Coinhills, the South-Korean won is one of the most popular national currencies trading against bitcoin. Accounting for around 20,000 btc ($173 million) in daily trading volumes against bitcoin, the won is ranked the third largest national currency traded versus BTC after the U.S. dollar and the Japanese yen.

In mid-April, major South Korean crypto exchange Coinnest started closing its services, which was reportedly a result of the extended 2018 bear market. Subsequently, Cointelegraph reported that the number of South Koreans buying cryptocurrency with fiat money has significantly increased, while the amount of crypto investment in 2018 surging by 64% over 2017.

Last week, LocalBitcoins banned Iranian residents from using its service, as the exchange purportedly had to restrict Iranian transactions to comply with financial regulations in Finland, as well as with the sanctions imposed by the United States.

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