MaidSafe just announced coin to trade on Yuanbao one of China's largest asset exchanges

in #crypto-news8 years ago


Today Maidsafe has made an announcement regarding a partnership with Chinese digital currency exchange Yuanbao.

According to coinmarketcap Yuanbao has traded $882,935 USD in the last 24hours and according to the report they have 250,000 Users and was founded in 2013; with peak trading volume hitting 100 million USD. The Exchange facilitates the trading of 27 different currencies within the Chinese market.
Trading of MAID does not start until the 24th of June. Original report can be found on the MaidSafe Blog

Look at Yuanbao:

Looking into Yuanbao revealed some interesting information in comparison to the traditional exchanges that i am used to such as Poloniex and Bittrex.
Yuanbao main currencies trade against CNY directly and from what i can see they do not trade against BTC at all; some currencies are available to trade YBC (YBCoin) their own in house digital currency; YBC is short for Yuan Bao Coin and as 100% POS coin with 3 million coins in total supply; more info Here.
Another interesting factor that is different from anything i have seen on my normal exchanges is the ability to do P2P lending with up to 60% on collateral in digital currencies for Fiat loans with user specified interest rate and term (15d-1year) without identification!.

MAID today:

On this news roughly 6 hours ago MAID price has risen 30-35%; you may think it has had it's rise off this news and maybe you are right but it's interesting to see previous listings on this exchange in the next couple of segments.
MAID on Polo:

Factom in December 2015

On the 19th of December 2015 news broke that FCT would trade on Yaunbao; News Release; the chart below shows the date of the announcement and the trading activity which occurred after this point; after listing the price of FCT went up ~3000%.
FCT on Polo:

VPN Coin in April 2015

On the 9th of April 2015 news broke that VPN coin would trade on Yaunbao; News Release; the chart below shows the date of the announcement and the trading activity which occurred after this point; after listing the price of VPN went up ~750+% in the following 3 months.
VPN Coin on Bittrex:

Conclusion:

I am not saying past performance is an indicator of future performance but it is interesting to see the comparisons; i do not suggest anyone invest's in any coins mentioned without being aware of the risks and doing your due diligence. this is for informational purposes only.

Also if your interested i posted recently about MAIDSafe's Davdi Irvine taking a loan from the MAIDSafe Foundation in the form of 24 Million MAID to continue development; that story is still relevant and can be found at https://steemit.com/crypto-news/@steempower/maidsafe-scraping-the-bottom-of-the-development-money-barrel

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That's good news. It's a separate crypto project and I've never invested in it, but I like those Maidsafe guys.

I've been waiting almost 2 years now for Maidsafe to come up with something I can use. They sure take their time to release something. I hope their project works but I'm skeptical.

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