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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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Cryptocurrency Adoption Passes Another Milestone Surpassing 100 Million Users



According to a new study conducted by Crypto.com, the total number of global cryptocurrency users has surpassed 100 million for the first time ever. The study, which measured the cryptocurrency marketplace's size using onchain metrics, survey analysis, and internal data, recorded 106 million cryptocurrency users in January 2021.

Compared to December 2020, the 106 million users represent a 15.7% increase in just one month. What's fueling the growth of the crypto market? According to Crypto.com's research, it comes down to bitcoin adoption momentum.

Eric Anziani, Crypto.com COO had this to say to Bitcoin.com regarding the research's findings:

Our study improves upon previously used methods to find a clear trend of growing cryptocurrency ownership. As more companies and merchants adopt cryptocurrencies as a treasury asset and means of payment, we expect 2021 to be a banner year for crypto mass adoption, bringing us ever closer to our vision of 'Cryptocurrency in Every Wallet'.

Bitcoin smashed through its previous all-time high, pushing its market capitalization past $1 trillion. The growth shows no apparent signs of slowing down either as sentiment around cryptocurrency increases, especially as JP Morgan and BNY Mellon will start offering digital payment methods. Not even two full months into the year yet, investors are piling 10-digit figures into bitcoin. Tesla bought $1.5 billion of bitcoin at the beginning of February, and investment website Motley Fool announced a $5 million investment just a week later.

Bitcoin isn't the only thing that's fueling the demand for cryptocurrency. Several other factors are at play too. Crypto.com's research attributes this rapid ascent to the growth of the decentralized finance (defi) market, the ability to buy, sell, and hold cryptocurrency through Paypal, and the institutional adoption of cryptocurrency are attracting new crypto users every day.

Defi Momentum is Growing
The defi market's momentum is significant given the increased demand for ethereum and other altcoins like Binance's BNB. The total market capitalization of coins locked in defi has grown from $690 million to over $11.7 billion, a significant number that's encouraging new investors to enter the market.

According to Crypto.com's research, ETH's growth rate was higher than BTC in November and December 2020; BTC's unique users grew by 1.5% in November compared to ETH's 2.8% growth. In December, ETH's change was nearly double that of BTC's: 2.8% compared to 1.2%.

How accurate are all of these numbers? A total number of 24 exchanges were included in the research, and while Crypto.com has updated and improved its methodology since its last report, it does admit these figures may be subject to some small caveats.

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