Subscribe

New All-Time High: Bitcoin But Not ETH

Binance and Coinbase clash over listing fee claims, with industry leaders sharing mixed experiences. Bitcoin hits a new all-time high, while Ethereum lags. Meanwhile, USDG, a yield-sharing stablecoin, enters the market, aiming to challenge established players.

New All-Time High: Bitcoin But Not ETH

Listing Fee: Binance vs. Coinbase

The discussion began with a tweet from a project team claiming that Binance requires 15% of the token supply as a listing fee. In response, Coinbase CEO Brian Armstrong stated that Coinbase does not charge anything for listing.

 Andre Cronje then joined the conversation, tweeting that Binance had charged nothing for listing his project, whereas Coinbase had previously requested various amounts: $300 million, $50 million, $30 million, and, more recently, $60 million. This sentiment was echoed by Justin Sun, who commented on TRON's experience. He noted that Binance charged no listing fee, while Coinbase required a payment of 500 million TRX (valued at $80 million) and requested a $250 million BTC deposit in Coinbase Custody to support their performance metrics.

Additionally, Yuanjie from Conflux shared (in a tweet that was later deleted) that Binance did not charge a listing fee, though there was a 150,000 BUSD deposit that was forfeited due to the token’s performance. He also mentioned a security deposit of 5 million $CFX tokens, which was eventually refunded as there were no security breaches within the Conflux Network. 

  New All-Time High (ATH): Bitcoin but Not Ethereum

A humorous remark made rounds last week, noting that both BTC and ETH were still $2,000 below their peak prices. However, following Donald Trump's presidential election victory, Bitcoin surged past $80,000, reaching a new all-time high. Many now anticipate that Bitcoin could surpass $100,000 by the end of the year.

 Meanwhile, speculation surrounds whether COIN stock will also achieve a new ATH soon. In contrast, Ethereum (ETH) remains significantly below its peak, facing numerous unresolved concerns within the community.

 USDG: A New Yield-Sharing Stablecoin

A coalition of fintech firms, including Robinhood, Kraken, and Galaxy Digital, has introduced a new stablecoin called USDG under the Global Dollar Network initiative. Pegged to the US dollar, USDG is designed to maintain a stable value while distributing rewards generated from its holdings, incentivizing broad participation.

Similar to the previously introduced USYC, USDG offers yield distribution but employs a different method. The introduction of such incentives raises questions about whether USDG could challenge established stablecoins like USDT or USDC, which currently dominate in terms of liquidity.


1Token’s Service

Rooted from crypto quant trading, 1Token's Crypto PMS, RMS and Portfolio Accounting Software has the unique trading know-how and technology capabilities to build:

  • Up-to-date and high confidence connection to all crypto trading venues, across DeFi and CeFi
  • Top-down, bottom-up crypto P&L calculations, and crypto fund reconciliation of top-down and bottom-up results
  • Real-time crypto trading metrics calculation, monitor and alerts tailor-made for different types of crypto funds, crypto FoFs and crypto prime brokers
  • T+0 crypto shadow NAV accounting system with subscription, redemption, dividend, cost accruals


Follow us