Category Archives: Binance
Crypto: Why could CZ of Binance stay in prison longer? – Cointribune EN
Sat 27 Jul 2024 3 min of reading by Mikaia A.
Changpeng Zhao, aka CZ, former CEO of Binance, began a four-month prison sentence last June. His incarceration caused quite a stir in the crypto world, marking a spectacular fall for this titan of cryptocurrencies. The suspense is at its peak, as his release initially scheduled for the end of August is now postponed to the end of September. The reason? A delayed start of his sentence orchestrated by his legal team.
CZ, the strongman of Binance, has not been spared by judicial setbacks. The court had initially recommended that he serve his sentence in Seatac, a high-security federal detention center, but thanks to the skill of his lawyers, he is now in a low-security prison, FCI Lompoc II.
Prosecutors had initially demanded three years in prison, but the sentence was reduced to only four months for the man who initiated the creation of the BNB crypto and who holds a large number of them.
However, the irony of fate wanted CZ to start his sentence only at the end of May, which automatically postponed his release date to September 29.
I was looking forward to seeing CZ free in August, but now hell have to wait another month, tweeted a Binance fan, reflecting the feeling of disappointment among the crypto community.
The delay in CZs release is not without consequences for Binance and the crypto market in general. The prolonged absence of CZ within Binance, a platform already faced with a colossal fine of 4.3 billion dollars for violations of anti-money laundering laws, exacerbates uncertainties.
The news of the extension of his sentence caused a stir on social media, and investors remain on alert.
Binance, under the spotlight, is trying to stay the course despite legal storms.
Analysts are divided: some see this situation as an opportunity for the platform to reinvent itself, while others fear long-term repercussions on user confidence and the stability of the crypto market.
CZs sentence, ultimately light considering the initial accusations, is one more chapter in the Binance saga. His release scheduled for September will be a key moment for the future of the platform and the crypto ecosystem as a whole.
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La rvolution blockchain et crypto est en marche ! Et le jour o les impacts se feront ressentir sur lconomie la plus vulnrable de ce Monde, contre toute esprance, je dirai que jy tais pour quelque chose
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
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Crypto: Why could CZ of Binance stay in prison longer? - Cointribune EN
Millions of Dollars in XRP Mysteriously Moved From Binance – Cryptodnes.bg
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Millions of Dollars in XRP Mysteriously Moved From Binance - Cryptodnes.bg
Amber Group Deposits $1.35M Worth Of $ID Tokens On Binance: Profit-Taking Or Loss-Cutting? – NullTX
Amber Group recently deposited 2.6 million $ID tokens, equivalent to $1.35 million, onto Binance. This move has raised questions about whether the fund is taking profits or cutting losses.
The timing of this deposit is intriguing, as it comes after a 20% increase in the price of $ID over the past two days. This uptick in value might suggest a strategic profit-taking maneuver by Amber Group. However, a deeper analysis of their recent trading history indicates that the situation might be more complex.
Four months ago, Amber Group withdrew 4 million $ID tokens, worth approximately $4.76 million at the time. Since then, the price of $ID has plummeted by 56%. If the recently deposited 2.6 million $ID tokens are sold at current prices, Amber Group would incur a significant loss of $1.7 million, equating to a 56% loss on their initial investment.
Given these figures, its plausible that Amber Groups recent deposit is not necessarily a profit-taking action but rather an attempt to mitigate further losses. The fund might be repositioning its assets in response to the volatile market conditions.
Adding another layer to the analysis, $IDs trading volume has surged by 50% in the past 24 hours. This spike in activity could be due to heightened interest from other investors who are either looking to capitalize on the recent price increase or are reacting to Amber Groups significant market move.
In conclusion, while the recent deposit of $1.35 million worth of $ID tokens by Amber Group on Binance might initially appear as a profit-taking strategy, the broader context suggests it could also be a response to substantial losses incurred over the past few months. As market dynamics continue to evolve, it remains to be seen how this move will impact Amber Groups overall strategy and the future price of $ID tokens.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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Amber Group Deposits $1.35M Worth Of $ID Tokens On Binance: Profit-Taking Or Loss-Cutting? - NullTX
Solana Overtakes Binance Coin: Will SOL Challenge Ethereum Next? Price Prediction – Cryptonews
Last updated: July 27, 2024, 09:56 EDT | 3 min read
Solana price has continued its upward momentum, recently climbing to around $185 and reaching an intraday high of $187.20. This rally has allowed Solana to overtake Binance Coin (BNB) as the fourth-largest cryptocurrency by market capitalization.
With a surge of over 35% in the past two weeks, Solanas impressive growth reflects increasing adoption and investor interest, sparking discussions about its potential to challenge Ethereum (ETH) next.
Solana (SOL) has recently surpassed Binance Coin (BNB) to become the fourth-largest cryptocurrency by market cap for the first time in over four years.
According to Santiment, Solanas price surged by more than 35% in the past two weeks, outpacing Binance Coins 10% increase during the same period. This significant growth has positioned Solana ahead of Binance Coin, reflecting its increasing adoption and investor interest.
At the Bitcoin conference, VanEck reported that many attendees showed keen interest in Solana, signaling growing curiosity and demand.
Despite some opposition from major asset managers like BlackRock regarding additional Solana ETFs, Solanas strong performance and rising market presence suggest it has the potential to continue its upward trend.
Therefore, Solanas recent surge and surpassing Binance Coin have boosted its market presence, signaling strong investor interest and adoption. This momentum suggests potential for continued price growth and market dominance.
The crypto market has been performing well, driven by Bitcoins (BTC) robust bullish momentum, which has also lifted other cryptocurrencies, including Solana (SOL). BTC recently traded around $68,010 and reached an intraday high of $68,260.
This positive movement was partly fueled by Michael Saylors optimistic prediction that BTC could reach $13 million by 2045.
This bullish sentiment in BTC has likely boosted investor confidence across the market, contributing to Solanas significant rise. Solana has recently surpassed Binance Coin to become the fourth-largest cryptocurrency by market cap.
The strong performance of Bitcoin has had a ripple effect, enhancing market confidence and driving Solanas impressive growth and market position.
Solana (SOL) is extending its solid uptrend, having formed a bullish engulfing candle above the $185 level. On the upside, the chances of a bullish trend continuation remain strong as both the Relative Strength Index (RSI) and the 50-day Exponential Moving Average (EMA) are in a buying zone.
The RSI currently stands at 70.82, indicating strong buying momentum, while the 50 EMA is positioned at $177.99, reinforcing the bullish trend.
Key Price Levels: The pivot point is at $185, serving as a critical level for potential market movements. Immediate resistance is observed at $190.48, with further resistance levels at $196.05 and $202.00.
Solana Price PredictionThese resistance points will be crucial for any bullish momentum. Conversely, immediate support is noted at $178.62, followed by $171.77 and $165.45, which are pivotal for any potential downward movements.
Technical Indicators: The technical indicators provide further insight into Solanas market conditions. The RSI is in a strong buying zone, suggesting potential for continued upward momentum. The 50 EMA is also in a favorable position, supporting the bullish outlook.
Conclusion: The technical outlook for Solana remains bullish above the $185 level. Traders are advised to consider buying above this level, as maintaining above the pivot point could lead to further upward movement towards the resistance levels of $190.48 and $196.05. A drop below the pivot point may indicate potential downward pressure.
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Time to Act: The presale price of WAI is currently $0.00073, and its set to increase soon. Early investors could see significant gains if WAI achieves market leadership.
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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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Solana Overtakes Binance Coin: Will SOL Challenge Ethereum Next? Price Prediction - Cryptonews
Binance Completes Render (RNDR) Token Swap and Rebranding to Render (RENDER) – Blockchain News
Lawrence Jengar Jul 26, 2024 10:26
Binance has successfully completed the token swap and rebranding of Render (RNDR) to Render (RENDER), opening new trading pairs and enabling deposits and withdrawals.
Binance, a leading cryptocurrency exchange, has successfully completed the token swap and rebranding of Render (RNDR) to Render (RENDER), according to an official announcement from the company. The transition marks a significant milestone for the platform and its users, as deposits and withdrawals for the new RENDER tokens are now open.
Following the rebranding, Binance has opened spot trading for several new pairs involving RENDER. These pairs include RENDER/BTC, RENDER/USDT, RENDER/FDUSD, RENDER/USDC, RENDER/TRY, RENDER/EUR, and RENDER/BRL. Trading commenced on July 26, 2024, at 08:00 (UTC). Users engaged in Spot Copy Trading portfolios can add these pairs by enabling them in the Personal Pair Preference section of the Spot Copy Trading settings.
The token swap was conducted at a ratio of 1 RNDR to 1 RENDER. Users can view their token distribution history through their Binance wallet history. Additionally, new RENDER token deposit addresses are available for users to obtain.
It is important to note that deposits and withdrawals of the old RNDR tokens are no longer supported. Users are advised to update their wallet addresses and ensure all transactions involve the new RENDER tokens to avoid any issues.
Binance has emphasized that there may be discrepancies in translated versions of this announcement, and users should reference the original English version for the most accurate information.
For more detailed information, users can visit the official announcement on Binance's website. Source.
As always, Binance reminds users to be cautious with their investment decisions. The platform is not liable for any losses incurred due to market volatility. Users should consider their financial situation and consult independent financial advisors if necessary.
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Binance Completes Render (RNDR) Token Swap and Rebranding to Render (RENDER) - Blockchain News
Binance to Delist Several Spot Trading Pairs on July 26, 2024 – Blockchain News
Rongchai Wang Jul 24, 2024 12:47
Binance announces the removal of selected spot trading pairs due to poor liquidity and trading volume, effective July 26, 2024.
Binance, one of the leading cryptocurrency exchanges, has announced the removal of several spot trading pairs from its platform, effective July 26, 2024. The decision follows periodic reviews aimed at protecting users and maintaining a high-quality trading market, according to an official announcement from Binance.
The delisting decision is primarily driven by poor liquidity and trading volume of the affected pairs. Binance conducts regular assessments of its listed trading pairs to ensure they meet the platforms standards. Spot trading pairs that fail to meet these criteria are subject to removal.
Users who utilize Spot Trading Bots for the affected pairs should take note that Binance will terminate these services at 03:00 (UTC) on July 26, 2024. It is strongly advised that users update or cancel their Spot Trading Bots before the cessation to avoid any potential losses.
Binance has emphasized that there may be discrepancies in translated versions of the announcement. Users are encouraged to refer to the original English version for the most accurate information where any discrepancies may arise.
Additionally, the platform reserves the right to amend or cancel the announcement at any time without prior notice. Users are advised to stay updated on any changes that may occur.
Binance has issued a disclaimer regarding the inherent risks associated with digital asset trading. The prices of digital assets are subject to high market risk and price volatility. Users should carefully consider their investment experience, financial situation, and risk tolerance before engaging in trading activities. Binance is not liable for any losses that may occur, and users are responsible for their investment decisions.
For more detailed information, users can review Binances Terms of Use and Risk Warning.
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Binance to Delist Several Spot Trading Pairs on July 26, 2024 - Blockchain News
Binance Announces 50,000 FDUSD Rewards for Completing Deposit and Trading Tasks – Blockchain News
Luisa Crawford Jul 26, 2024 09:46
Binance launches a promotion offering a share of 50,000 FDUSD to selected users who complete deposit and trading tasks during the specified period.
Binance has unveiled a new promotion that invites selected users to complete deposit and trading tasks to unlock a share of 50,000 FDUSD in rewards, according to Binance.
The promotion runs from July 25, 2024, 12:00 UTC to August 15, 2024, 08:00 UTC. During this period, selected users will receive invitations through email, inmail, and app push notifications to participate in the tasks. The promotion is split into two parts: Promotion A and Promotion B.
To qualify for rewards in Promotion A, users must meet the following criteria:
Only deposits from external applications or wallets will count towards the net crypto deposit amount. Rewards are distributed on a first-come, first-served basis, and each user may qualify for a maximum of one reward from Promotion A.
Eligible users who complete account verification and have not made any trades on Binance prior to July 25, 2024, 12:00 UTC can participate in Promotion B by making their first trade on Spot, Futures, Auto-Invest, Margin, Options, or Leveraged Tokens. Trades involving stablecoin-to-stablecoin and zero-fee pairs are excluded.
Binance will select 250 qualified participants to receive a 20 USDT token voucher each, based on every 5th qualified participant fulfilling the trading requirement during the Promotion Period.
Participation is limited to users in MENA and South Asia who receive invitations via email, inmail, or app notifications. Rewards for Promotions A and B are not mutually exclusive, allowing users to participate in both where eligible. Token voucher rewards will be distributed within 30 working days after the promotion ends and must be claimed within 15 days of distribution.
Binance reserves the right to modify or impose additional restrictions on the promotion and disqualify trades that involve prohibited activities such as market manipulation. Full terms and conditions can be accessed on Binance's website.
This promotion aligns with Binance's ongoing efforts to engage its user base through rewarding activities and enhance user participation on its platform.
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Binance Announces 50,000 FDUSD Rewards for Completing Deposit and Trading Tasks - Blockchain News
Solana Overtakes BNB In Market Cap, Now Ranked 4th – NullTX
Solana has recently overtaken Binance Coin (BNB) in market capitalization, securing the fourth spot.
According to CoinMarketCap, Solana (SOL) is priced at 186 USDT, reflecting a 3.79% increase in the past 24 hours.
This price surge resulted in over $4 million in liquidations of short positions as SOL reached $187. The largest single short liquidation was $560,000 at the $186 mark, highlighting the bullish momentum driving Solanas recent performance.
Solanas technical metrics are also noteworthy. The networks true transactions per second (TPS) have exceeded 1100, demonstrating its scalability and efficiency.
Additionally, the total value locked (TVL) in Solanas perpetual contracts has increased by 447% year-to-date, with platforms such as Jupiter Exchange and Drift Protocol leading this growth.
Despite these impressive achievements, a recent survey by CoinGecko reveals that only 10.6% of crypto investors believe Solana will surpass $1,000. This indicates a mix of optimism and caution among investors regarding Solanas long-term price potential.
Solanas rapid ascent in market capitalization and robust technical performance underscore its growing influence in the cryptocurrency sector. As it continues to attract more users and developers, Solana is positioning itself as a formidable competitor to other major cryptocurrencies. The market will be closely monitoring Solanas trajectory to see if it can sustain its growth and possibly achieve the ambitious price targets that some investors are skeptical about.
Overall, Solanas recent market performance and technical advancements signal a promising future for the blockchain platform, making it a significant player to watch in the evolving crypto landscape.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any projects.
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From Bot to Binance: Banana Guns (BANANA) Price Explosion – Blockonomi
Banana Gun (BANANA), a cryptocurrency associated with a Telegram trading bot, has experienced a significant price surge of over 50% in the past 24 hours. This dramatic increase followed an announcement by Binance, the worlds largest cryptocurrency exchange, that it would list the token and launch an airdrop on its platform.
The BANANA token, which supports trading on Ethereum, Solana, Base, and Blast networks, saw its price reach an all-time high of $87.03. However, the price quickly corrected, settling around the $70 mark. This volatility has caught the attention of both traders and analysts in the cryptocurrency community.
Launched in early 2023, Banana Gun distinguishes itself with a unique approach to development and community engagement. The project uses a now/next/later roadmap to outline its plans for future enhancements and expansions. This structure not only demonstrates a commitment to growth but also encourages community participation in suggesting new features.
One of Banana Guns innovative features is its use of soul-bound NFTs. During a three-week campaign, users could complete various tasks to earn these NFTs, which then determined eligibility for whitelisted spots in the project. This approach aimed to reward dedicated community members and filter out those merely seeking quick profits.
Despite the recent price surge, some analysts urge caution. Technical indicators, such as the Relative Strength Index (RSI), suggest that BANANA may be overbought. The Chaikin Money Flow (CMF) indicator shows a lack of significant inflows, which could indicate that the price increase is driven more by speculation than by sustained investor interest.
Jordan Avery, a market analyst, commented on the situation:
While the Binance listing is certainly a positive development for Banana Gun, the lack of substantial inflows and the quick price correction suggest that this rally may not be sustainable in the short term.
The Binance airdrop, which will distribute a total of 800 BANANA tokens to eligible users, has undoubtedly contributed to the increased interest in the cryptocurrency.
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From Bot to Binance: Banana Guns (BANANA) Price Explosion - Blockonomi
XRP Beats BTC, SOL, and ETH on Binance, Coinbase, and Kraken in This Metric – The Crypto Basic
XRP outperforms market leaders Bitcoin, Solana, and Ethereum on volume change across major exchanges such as Binance, Coinbase, and Kraken.
This is according to market data provided by Presto Research in its Daily Market Brief. The research assessed the volume change on nine of the top leading exchanges by trade volume.These platforms includeBinance, the worlds largest;Coinbase, the largest in America; and Upbit, Koreas biggest exchange.
Per the data, over a 24-hour period, XRP recorded a remarkable 410% spike in trade volume on Upbit. This marked its highest trade volume spike in any centralized exchange. The Crypto Basic has previously called attention to the massive interest that XRP commands in South Korea.
Most recently, XRP outpaced Bitcoin in trade volume across the entire Korean market. Interestingly, at the time, XRPs trade volume on Upbit alone overshadowed Bitcoins volume on Koreas five leading exchanges. For context, XRP had a $526 million volume on Upbit, while Bitcoin saw $282 million on the top five exchanges.
The latest spike in trade volume represents another round of growing interest in XRP among Koreans. Recall that interest within the Korean market was one of the major catalysts that triggered XRPs July 2023 spike to $0.93.
Besides Upbit, XRP also recorded encouraging surges in trade volume across other exchanges, data suggests. There was a 287% increase on KuCoin and a 217% spike on Gate.io. Kraken witnessed a 216% rise, while Coinbase saw a 169% growth. XRP trade volume also rose 139% on OKX and 124% on Binance.
Meanwhile, Bitcoin (BTC) saw a relatively modest increase in trading volume. Despite BTCs dominant market position, its volume saw only a 60% increase in HTX and a 1.3% rise in Kraken. Bitcoin experienced declines on other platforms, such as Gate.io (-29%), Coinbase (-25.3%), and Kucoin (-23.6%).
Ethereum (ETH) experienced a mixed reaction across exchanges. On Kucoin, ETHs volume increased by 32.6%, and on Bybit, it rose by 10.8%. However, other major exchanges, such as Gate.io and HTX, saw significant declines of 38.5% and 37.7%, respectively.
Solana (SOL) recorded an overall negative trend in trading volume across multiple exchanges. Notably, OKX saw a 21% decrease, Binance a 18.6% drop, and Upbit a 15.8% decline. The only exchange to record a positive change was HTX, with a minor increase of +1.3%.
The data also highlights notable volume changes for other cryptocurrencies. Wrapped Bitcoin (WBTC) saw a significant 351.3% increase. Shiba Inu (SHIB) experienced a notable 207.1% volume surge, reflecting its growing appeal among retail investors as ecosystem developments push on.
Further, the chart spotlighted the overall market performance. The total market cap has shown fluctuations since January 2024, with a noticeable decline around April and a recovery trend starting in mid-June. Despite the volatility, the total market cap remains robust as it pushes toward the $2.5 trillion mark.
Note: The update was first spotted by @SMQKEDQG on X.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basics opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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XRP Beats BTC, SOL, and ETH on Binance, Coinbase, and Kraken in This Metric - The Crypto Basic