Crypto Market: ZEON Jumps 673%, NavCoin DAO, LINK RSI/TokenSets etc.

Top Gainer Of The Week: Crypto-Based Loan Service ZEON Jumps 673%

This week’s top gainer was ZEON (ZEON) which gained 673%, from the weekend starting price of $ 0.00011 on Feb 22, to reach $ 0.00064 on Feb 29. ZEON (ZEON) is a crypto-based loan facility, which allows one to obtain cash, without selling their crypto-assets (based on the market value of the assets). Plus, it allows users to deposit and earn daily interests. ZEON also features a feature-rich wallet for storing cryptocurrencies and managing loans/deposits. The crypto-asset recently got listed at Bitmart, which might have helped its price improvement.

DeFi Falls Below $ 1B Mark To $ 970M

Decentralized Finance (DeFi) had a troublesome week and the total value locked (TVL) dropped from $ 1.05B at the start of the week on Feb 22, to a significantly lower $ 970M on Feb 29. The Maker dominance currently is at over 57%. This reduction in the value can be attributed to the recent troubles at bZx protocol and Ethereum’s heavy downward price movement.

NavCoin Nearing DAO Upgrade Completion

NavCoin announced today that the Decentralized Autonomous Organization (DAO) which was being worked on since a year, is nearing completion and has been deployed on testnet for final network testing. This will be a significant upgrade for the once popular Proof-of-Stake Version 3 (PoSv3) cryptocurrency, which launched in 2014 without any Initial Coin Offering (ICO) or premine. Clarifies Its Positions In Response To Coinbase Statement which manages the EOS blockchain published an update for the community today, clarifying the earlier Coinbase statement of EOS network performance degradation, after which it temporarily halted EOS token withdrawals and deposits. According to the statement “descriptions of the degraded EOS network performance aren’t accurate” and that it has instead identified scalability issues with EOS-Coinbase interface. An update will be released in the coming weeks, to fix the issue.

For statement about Coinbase regarding EOS Network, please read.— (@block_one_) February 29, 2020

LINK RSI Set Launches On TokenSets

Chainlink announced the integration of LINK RSI Set with TokenSets platform on Feb 24. The rebalance system for this set is powered by integration with Chainlink’s LINK/USD oracle (price reference data contract) and its the first asset on TokenSets other than ETH or BTC. The LINK RSI Set works by detecting the speed and change of price movements and automatically triggers re-balances if the Relative Strength Index (RSI) crosses below support or above resistance to indicate the price momentum.

Welcome @SetProtocol to the #Chainlink ecosystem! Set Protocol will support the new LINK/USD Price Reference Data contract ( and use it as a trusted decentralized data feed to reliably price new token sets.— Chainlink – Official Channel (@chainlink) February 24, 2020

Binance In High Development Mode

Binance has been in high development mode, for quite some time now. The last week was no different. Some of the important developments are listed below:

  1. The stablecoin of Binance $BUSD liquidity is on the rise and its now available for purchase using seven FIAT currencies.
  2. The build-your-own-exchange service Binance Cloud was launched, which allows users and companies to launch customized exchange, using Binance infrastructure and technology.
  3. Its now possible to use Visa card to purchase crypto-assets.
  4. Binance also opened Hong Kong Dollar (HKD) gateway through Epay.
  5. Binance will list COTInetwork (COTI).
  6. $LSK staking is now available.
  7. Binance USD $BUSD can now be purchased using Simplex.
  8. Binance added $BUSD margin trading pairs for $ETC, $TRX and $ADA.
  9. Zero fee payment methods on crypto purchases with EUR, GBP and AUD through BanxaOfficial.
  10. Binance added $BUSD trading pairs with $ALGO, $BTT, $TOMO, $XMR and $ZEC.
  11. WazirX integration into Binance has been completed.
  12. Binance joins Shyft network to ensure Financial Action Task Force (FATF) compliance.
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