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The largest cryptocurrency exchange by trade volume, Binance, is gearing up to establish its dominance in the DeFi landscape with the launch of Ethereum-wrapped Beacon Ether (ETH-wBETH) liquidity pool on Curve Finance.

Binance is incentivizing users with staked Ether rather than native tokens like other protocols. This has helped the pool amass $129.9 million in Total Value Locked (TVL) since its launch on April 27.

Also read: Bitcoin mining difficulty hits record high, signals likely influx of selling pressure on BTC

The wrapped Beacon Ethereum (wBETH) token was launched on April 27 and Binance introduced it in an ETH-wBETH liquidity pool on Curve Finance. Each wBETH represents one Beacon Ether and the accrued staking rewards from the Beacon Chain at the rate of conversion of 1.002.

Within two weeks, 70.9K wBETH tokens have been minted and the current TVL is $129.9 million. wBETH ranks eighth among Liquid Staking Derivatives.

wBETH statistics

Binance can gain an edge over its competitors by inviting users to deepen the liquidity of the ETH-wBETH pool. In order to make this possible, the largest exchange by trade volume needs voting rights and needs to lock Convex Finance (CVX) tokens.

The exchange is currently incentivizing vlCVX (vote locking CVX) holders with 11.381 wBETH, instead of a native protocol token. This opens up an opportunity for vlCVX token holders to gain staked Ether instead of other tokens like wstETH (wrapped staked Ether) offered by Lido Finance that need to be exchanged further for unlocked staked ETH.

The exchanges native token BNB benefits from Binances dominance in the DeFi landscape. BNB is in an upward trend that started in mid-June 2022 and Binances native token is on track to break past the 50% Fibonacci retracement (of the decline from April 2022 highs of $460 to June lows of $184) at $322.

The 50-day Exponential Moving Average at $318.80 is the immediate resistance for BNB in its upward trend.

BNB/USD one-day price chart

In the event of a price decline, the 38.2% Fibonacci level at $289.50 would be key. A drop below this level could invalidate the bullish thesis for Binance Coin. Equal low at $267.7 is likely to act as support for BNB in the event of a decline in the native token of the exchange.

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Binance Coin likely to outperform competitors as Wrapped Beacon ETH gets warm welcome - FXStreet

In the fast-paced world of cryptocurrencies, fortunes can be made or lost within a blink of an eye. One such individual who experienced the highs and lows of the market is the man who invested $8 million in Binance (BNB) back in 2017. Now, he is making headlines once again as he sets his sights on purchasing presale TCRV tokens of the promising platform, Tradecurve.

>>BUY TCRV TOKENS NOW<<

While the crypto market was still in its early stages, with numerous emerging projects vying for attention, one bold protagonist recognized the immense potential of Binance and its native token, BNB. With a firm belief in the future of decentralized exchanges, he made a bold move by allocating a substantial $8 million to BNB, placing his trust in the platforms vision and the growing demand for crypto trading.

As the years passed, Binance grew exponentially, establishing itself as one of the leading cryptocurrency exchanges worldwide. BNB, the exchanges native token, soared in value, delivering substantial returns to early investors. The investors timely and astute decision resulted in considerable wealth creation, solidifying his reputation as a shrewd player in the crypto market.

Yet, the window of opportunity for early investment in Binance (BNB) has long since closed. Those who saw the potential in its infancy are now reaping their well-deserved rewards, leaving BNB latecomers in their dust.

But although the Binance ship has sailed, the cryptocurrency market is constantly evolving. So its crucial to stay alert for new coins with promise, as they could be the Binance (BNB) of tomorrow. And fortunately, we seem to have a clue about whats next!

This visionary investors journey through the crypto market has now led him to set his sights on the promising presale tokens of Tradecurve. Recognizing the potential for transformative trader engagement, our investor sees Tradecurve (TCRV) as the next frontier in the ever-evolving crypto market.

Several factors have influenced the investors decision to venture into Tradecurve.

Firstly, the platforms hybrid nature, seamlessly combining the best elements of centralized and decentralized exchanges, offers a unique value proposition. This innovative approach provides users with ample liquidity, anonymity, and rapid execution, creating a conducive environment for trading success.

Moreover, Tradecurves notable features, such as high leverage starting at an impressive 500:1 and algorithmic trading capabilities, align with the investors strategy of maximizing trading potential and capitalizing on market opportunities. These features demonstrate Tradecurves commitment to empowering traders and investors and enhancing efficiency in trading operations.

In addition, Tradecurve prioritizes user experience and security, implementing stringent measures to protect funds and personal information. With a user-friendly interface and intuitive tools, Tradecurve aims to provide equal access to both seasoned professionals and newcomers, ensuring a seamless trading experience.

Tradecurves native token, TCRV, brings forth many advantages for its holders. TCRV token holders gain access to exclusive perks, including enhanced trading leverage, accelerated level-up bonuses, and trade-back rebates on a daily, weekly, and monthly basis. The quantity of TCRV tokens owned determines the extent of trading fee discounts, ranging from 20% to 80%, contingent upon the holders tier.

As the trading landscape constantly evolves, Tradecurve leads the way by offering a platform that encompasses innovation, convenience, and reliability. Whether youre an experienced trader seeking advanced features or a novice venturing into the world of trading, Tradecurve presents an enticing option that seeks to revolutionize how we interact with financial markets.

For more information about $TCRV presale tokens:

Website: https://tradecurve.io/

Buy presale: https://app.tradecurve.io/sign-up

Twitter: https://twitter.com/Tradecurveapp

Telegram: https://t.me/tradecurve_official

Disclaimer:This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of NewsBTC. NewsBTC does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.

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Man Who Put $8M Into Binance BNB In 2017 Is Now Purchasing ... - NewsBTC

Cryptocurrency investment has gained immense popularity in recent times, and with Bitcoin (BTC) halving approaching soon, the ROI potential of altcoins seems to be on the rise. Three Major Altcoins that have captured the attention of crypto investors and enthusiasts alike are Binance Coin (BNB), Solana (SOL), and the newest meme coin in the crypto arena,Caged Beasts (BST).

Cryptocurrency investment has gained immense popularity in recent times, and with Bitcoin (BTC) halving approaching soon, the ROI potential of altcoins seems to be on the rise. Three Major Altcoins that have captured the attention of crypto investors and enthusiasts alike are Binance Coin (BNB), Solana (SOL), and the newest meme coin in the crypto arena,Caged Beasts (BST).

The standout feature of investing in Binance Coin (BNB) lies in its exceptional growth potential. Since its inception in 2017, BNB has witnessed remarkable expansion, cementing its position as one of the most successful cryptocurrencies in the market.

The standout feature of investing in Binance Coin (BNB) lies in its exceptional growth potential. Since its inception in 2017, BNB has witnessed remarkable expansion, cementing its position as one of the most successful cryptocurrencies in the market.

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BNB boasts a multitude of applications, augmenting its value and appeal among investors. It serves as a means to pay trading fees on the Binance exchange, with BNB holders enjoying discounted rates. Moreover, BNB serves as a gateway to acquiring other cryptocurrencies within the Binance ecosystem and even facilitates payments for select goods and services. With its high liquidity, Binance Coin ensures effortless buying and selling transactions.

The price of BNB received support around the $308 level. As a result, the bullish momentum allowed the price to rebound and reach the $315 level. However, it is important to note that the price is currently encountering significant bearish pressure, with the bulls being rejected at the $315 level.

Solana (SOL) has emerged as a prominent contender in the pursuit of lower transaction fees, capturing significant attention and resulting in a surge in active addresses on its network. Recent data from The Block has unveiled a remarkable 113% increase in the number of daily active addresses on the Solana blockchain.

When assessed on a month-over-month (MoM) basis, Solana witnessed substantial growth, with a total of 7.72 million active addresses recorded in April. What's even more intriguing is that, with around two weeks remaining in May, the chain has already surpassed 7 million active addresses.

In the month of May, Solana witnessed a significant surge in its user base, with the creation of an impressive 4.19 million new addresses. This remarkable increase surpassed the number of new addresses added to the network in April, which stood at 3.76 million.

The growing number of new addresses on the Solana network signifies a rising interest and adoption of the platform. Users are increasingly recognizing the benefits and advantages offered by Solana, leading to an influx of new participants eager to be part of its vibrant ecosystem.

This surge in new addresses reflects the growing confidence and trust in Solana as a blockchain network. With its efficient infrastructure and lower transaction fees, Solana has positioned itself as a top contender in the cryptocurrency space, attracting a significant number of users seeking a seamless and cost-effective blockchain experience.

In the realm of cryptocurrencies,Caged Beasts (BST) shines brightly with its innovative concept of "Caged Liquidity." This distinctive community token sets itself apart by securely locking up funds, fostering transparency, and setting it apart from its counterparts. Caged Beasts has a paramount objective of revolutionising the finance industry through decentralisation, striving to liberate itself from the constraints akin to caged beasts.

Caged Beasts (BST) brings a revolutionary approach to the world of cryptocurrencies by offering unparalleled transparency. Unlike other tokens, it allows every participant to observe the stringent lock-up of funds, ensuring a high level of trust and integrity. With 75% of the funds raised securely caged until the release date, the ecosystem operates in a controlled and safeguarded manner.

With a strong focus on decentralization and breaking free from the limitations of traditional finance, this community token aims to reshape the industry. The Plot, Pre-Sale, and Release stages lay the groundwork for an extraordinary transformation led by a diverse cast of powerful and captivating characters.

With active community engagement, transparent tokenomics, and a robust roadmap, Caged Beasts Coin invites investors and enthusiasts to join the revolution and be part of an exceptional decentralized ecosystem that challenges the existing norms. Don't miss out on the opportunity to embark on this exhilarating journey from its very inception.

Sign up now to secure your spot in the upcoming pre-sale, and together, let's reshape the world of finance and unleash the true potential of decentralized technology.

Disclaimer: This article is a paid publication and does not have journalistic/ editorial involvement of Hindustan Times. Hindustan Times does not endorse/ subscribe to the contents of the article/advertisement and/or views expressed herein.

The reader is further advised that Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions.

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Altcoins to Look Out For in 2023: Binance, Solana, and The Latest Meme Coin Caged Beasts | Mint - Mint