bitCNY (BITCNY) traded 0.8% lower against the dollar during the one day period ending at 10:00 AM ET on April 29th. bitCNY has a total market cap of $4.36 million and approximately $1.45 million worth of bitCNY was traded on exchanges in the last day. Over the last seven days, bitCNY has traded 2.3% lower against the dollar. One bitCNY coin can currently be bought for $0.15 or 0.00000396 BTC on popular exchanges.
Here is how other cryptocurrencies have performed over the last day:
- Tether (USDT) traded 0% lower against the dollar and now trades at $1.00 or 0.00002566 BTC.
- XRP (XRP) traded down 2.7% against the dollar and now trades at $0.62 or 0.00001593 BTC.
- Polkadot (DOT) traded down 2.1% against the dollar and now trades at $16.48 or 0.00042285 BTC.
- Shiba Inu (SHIB) traded 1.3% lower against the dollar and now trades at $0.0000 or 0.00000000 BTC.
- Lido stETH (STETH) traded down 0.6% against the dollar and now trades at $2,947.45 or 0.07417648 BTC.
- Lido Staked ETH (stETH) traded up 0% against the dollar and now trades at $2,851.03 or 0.07313492 BTC.
- Wrapped TRON (WTRX) traded 5.2% higher against the dollar and now trades at $0.0660 or 0.00000169 BTC.
- ApeCoin (APE) traded 6.4% higher against the dollar and now trades at $22.16 or 0.00056856 BTC.
- EarnX (EARNX) traded up 396,248.3% against the dollar and now trades at $0.0008 or 0.00000002 BTC.
- stETH (Lido) (STETH) traded flat against the dollar and now trades at $3,479.19 or 0.06807369 BTC.
According to CryptoCompare, “bitCNY is a market pegged asset (MPA) issued on the Bitshares platform, these assets are known as bitassets or smartcoins. Smartcoins always have 100% or more of its value backed by BitShares (BTS), and can be redeemed for it at any time. Since the exchange rate of BTS to CNY can change, the blockchain protocol deals with increasing and decreasing supply accordingly. This allows users to trade and transfer stable priced tokens across the blockchain and to trade real world commodities like gold and silver in a decentralized manner. “
Buying and Selling bitCNY
It is usually not possible to buy alternative cryptocurrencies such as bitCNY directly using US dollars. Investors seeking to trade bitCNY should first buy Bitcoin or Ethereum using an exchange that deals in US dollars such as Gemini, Coinbase or GDAX. Investors can then use their newly-acquired Bitcoin or Ethereum to buy bitCNY using one of the aforementioned exchanges.
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