Tag: Bico

Ethereum-Based Altcoin Jumps After Surprise Listing on Crypto Exchange Binance

by Dailyhodl

An Ethereum-based governance token is surging after being listed on crypto exchange giant Binance.

In a new announcement, Binance says that the native governance token of Biconomy (BICO), a network that offers plug-and-play relayer infrastructure to developers and aims to economically connect users on decentralized applications (DApps) across different blockchains, will now be available for trading.

The news sent BICO’s price surging from a seven-day low of $5.65 to $7.78, a 37% increase. The altcoin has since stabilized and is exchanging hands at $6.18 at time of writing.

BICO aims to solve many of the issues associated with using Web 3.0, such as mandatory and volatile gas fees, the ability to only pay in Ethereum (ETH), and a long and complicated onboarding process that may turn away non-crypto savvy users, according to the project’s website. BICO holders can stake the token to earn awards and partake in the protocol’s governance.

“Almost every interaction with your DApp is a complex transaction for your users. In comparison to intuitive Web 2.0 products that people are used to, DApps can be extremely frustrating

Our aim is to make Web 3.0 products as intuitive and easy to use as legacy Web 2.0 products. Simplifying this transaction experience will be key for decentralized projects to achieve any sort of adoption.

Thus, by solving key pain points at the crypto transactional layer, we are on a mission to simplify Web 3.0 experiences that will drive mass adoption.”

Binance’s announcement comes on the heels of rival crypto exchange Coinbase listing the token last week, also causing the altcoin to rally.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Crypto Giant Coinbase Launching Full Retail Support for Small-Cap Altcoin Built on Ethereum

by Dailyhodl

Top US crypto exchange Coinbase is expanding support for a little-known Ethereum-based altcoin across its full retail platform.

The Biconomy (BICO) token is now available on Coinbase.com and the exchange’s mobile apps. Coinbase Pro listed the crypto asset earlier this week, triggering a massive rally.

BICO is an Ethereum-based governance token for the Biconomy Network, a multichain platform that aims to connect its users’ wallets with decentralized applications.

Node operators can use the crypto asset to pay transaction fees, and BICO holders can vote on decisions affecting Biconomy’s protocol and network.

The token also went live on Huobi, Bybit, OKex, SushiSwap, BitMart, MEXC Global and Crypto.com’s mobile app this week, according to the project’s Twitter account.

Additionally, Biconomy rolled out a rewards and airdrop program on Wednesday.

After skyrocketing 200% on Wednesday, BICO is trading at $9.32 at time of writing and has retraced 37% in the past 24 hours.

Coinbase added support for BICO amid a flurry of new altcoin listings over the past several months. The exchange’s chief executive, Brian Armstrong, noted in July that they plan to list as many altcoins as possible.

“Reminder about how Coinbase lists assets: our goal is to list *every* asset where it is legal to do so.”

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Coinbase Launches Support for Little-Known Altcoin Project, Triggering Instant 78% Price Increase

by Dailyhodl

One under-the-radar altcoin is surging after a surprise listing by top US crypto exchange Coinbase.

In a new blog post, Coinbase says that the Biconomy (BICO) token will start trading on Coinbase Pro later today once appropriate liquidity conditions are met.

BICO is an Ethereum-based altcoin that powers Biconomy, a network that aims to cheaply connect users to any decentralized applications (DApps) across multiple chains. BICO can be used to pay network fees, as well as vote on upgrades.

According to the project website, Biconomy seeks to solve several logistical problems in order to increase mainstream adoption of Web 3.0.

“Web3 applications today face major roadblocks to user adoption in the form of terrible user onboarding and transaction experience.

There are various bottlenecks in the transaction experience: Necessity to pay a gas fee every time the user uses your application. Users can only pay in ETH, which they may not have at that moment. Or the user may not want to spend their ETH investment. New users have a long complicated onboarding process. Proficiency in complex blockchain technicalities is required such as using MetaMask…

Our aim is to simplify transactions by handling blockchain-related complexities under the hood.”

News of the listing sent the price of BICO up like a rocket from $6.49 to $9.82 in a matter of minutes.

At time of writing, the altcoin is trading for $10.06, according to CoinGecko.

Biconomy already has a number of impressive partnerships, including ones from BainCapital Ventures, Mechanism Capital and Huobi Ventures.

The BICO listing is the latest in a spate of altcoins added to the Coinbase platform in recent weeks. CEO Brian Armstrong said this past summer that the exchange was hustling to list as many different cryptos as possible.

BICO is not yet available on Coinbase.com or the Coinbase mobile app.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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