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Key Takeaways

Solana (SOL) has made headlines by overtaking Binance Coin (BNB) in market capitalization, underscoring the growing interest and confidence in the Solana ecosystem. This is particularly noteworthy as Solanas open interest reached $1.75 billion, approaching an all-time high.

This surge highlights increased investor activity and signals a bullish sentiment surrounding SOLs future potential. As Solanas price rises and trading volume sees significant upticks, the cryptocurrency community is abuzz with speculation about the future of SOL.

Recent data from CoinGlass highlights a 108% jump in open interest for Solana, setting a new record at $1.75 billion. This uptick shows heightened investor engagement and enhanced market activity on major exchanges, including Binance, Bybit, and OKX.

Solanas rising interest contributes to an overall optimistic trend in the crypto market, initially ignited by Bitcoins climb above $50,000. Enthusiasm for Bitcoin tends to positively affect altcoins like Solana. Not only that, but some analysts predict Solana could reach $140, indicating a potential 25% growth from its current price.

In addition, other on-chain metrics indicate a positive sentiment. According to data from TheBlock, Solanas value moved on chain has reached $37 trillion, the highest point in the last 12 months. In comparison, this metric was only $1 trillion in January.

This is also the case with fees. On January 31, it reached an all-time high of $1.2 million. It cooled off in February, but this number is still high at $522,000.

The price of Solana reached a high of $124 on December 24 last year, coming from a low of $18 in mid-September. As it broke resistance at around $80, it retested it for support on January 22.

This is when the current uptrend started, with the price now $116 and still going upward. We most likely saw a corrective wave four from its December peak to its January low, with its current rise being wave five of a five-wave pattern.

There was a possibility that this move was corrective and another downturn would take place. However, because it has crossed $110, we now expect it to reach a higher high above $125. The next significant zone that can serve as resistance is at $167, our next target.

However, after the uptrend ends, it would mark the compilation of the larger uptrend dating from January, meaning we could see a major correction pushing the price down by a significant amount.

Please note that the contents of this article are not financial or investing advice. The information provided in this article is the authors opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.

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Solana (SOL) Overtakes Binance Coin: What's Next? - CCN.com

Investors keenly watch the movements of notable assets like Cardano (ADA), Binance Coin (BNB), and the innovative Bitgert (BRISE). Lets explore the recent developments and future projections for Cardano, Binance Coin, and Bitgert that play a significant role in shaping the crypto landscape.

Cryptocurrency analyst recently shared a bullish outlook for Cardano (ADA), predicting a potential rally of 1,233% if certain breakout scenarios are validated. Cardanos ADA might follow a historical pattern, rising to $0.80, retracing to $0.60, and then entering a bull run towards $8 by January 2025. This projection for Cardano signifies a substantial increase from the current price, highlighting the potential for significant gains.

As of the latest data, Cardanos ADA has experienced a 1.87% increase in the last 24 hours, reaching $0.60 and exhibiting an 11% weekly gain. Cardanos steady rebound since January 23, coupled with strategic moves like surpassing the daily MA 50 at $0.53, positions Cardano for potential upward momentum. Cardano is at critical $0.613$0.617 area, acting as a barrier since January, becomes pivotal for Cardanos trajectory. Breaking this barrier could propel Cardanos ADA towards the projected $0.80 level, as anticipated by crypto analyst.

A crucial milestone in Cardanos journey is the live testing of Plutus v3 on SanchoNet, the test network for Cardanos decentralized on-chain governance mechanism. Cardanos Plutus v3 represents a significant leap forward in smart contract language. Cardano is aiming to enhance the developer experience, streamline smart contract adoption, and boost cross-chain interoperability.

Binance Coin (BNB) has recently witnessed a surge. Binance reached a 15-month peak above $350. This upward movement for Binance comes amidst broader market dynamics, with coin experiencing notable gains. Binance Coin remarkable 3% surge positions it above $350, marking a significant milestone not seen since the FTX Binance saga in November 2022. Market dynamics indicate that Binance Coin could potentially extend its rally above $375. Binance could target the $400 level in the near term.

The Binance Coin price chart reflects bullish signs, with the price trading above the $350 pivot level and the 100 simple moving average (4 hours). A key bullish trend line for Binance provides support at $354, and if the price closes above the $365 resistance zone, Binance Coin may gather further bullish momentum.

Amidst the fluctuations in Cardano and Binance Coin, Bitgert (BRISE) stands out as a trailblazer in the crypto engineering realm. Bitgerts collaboration with Centcex, set to launch a groundbreaking project, offers BRISE token holders unparalleled opportunities on the Centcex Launchpad.

Bitgerts high-performance blockchain, the Bitgert Chain, processes over 100,000 transactions per second, setting new standards for transaction efficiency globally. The commitment to affordability, with transaction fees as low as $0.001 and a zero gas fee policy, makes blockchain accessible to a broader audience.

With a community boasting over 600,000 users and facilitating more than 25 million transactions, Bitgert reflects growing trust and reliance. As Bitgert continues to redefine blockchain accessibility, its visionary approach and transformative technology position it as a key player in the future of decentralized finance.

For the latest updates on Bitgert and to stay informed about its developments, visit their official website or engage with the community on Telegram and Twitter. As the crypto market unfolds, Cardano, Binance Coin, and Bitgert contribute uniquely to the evolving narrative of decentralized finance and digital assets. Stay tuned for further insights into the cryptocurrency landscape.

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Cardano, Binance Coin and Bitgert Price Projections Unveiled for Crypto Investors - Analytics Insight

Binance, through its venture capital arm Binance Labs, has made notable investments in three innovative platforms Ethena Labs, NFPrompt, and ShogunFi.

Binance Labs has kickstarted its first batch of Season 6 Incubation by supporting three crypto projects.

Ethena Labs is notable for its innovative stablecoin approach. It converts Ethereum (ETH) into a yield-bearing stablecoin, independent of traditional banks, which sets a new crypto stability and utility standard, making stablecoins more attractive. Indeed, it enhances the Ethereum ecosystem with versatile financial instruments.

NFPrompt, on the other hand, is transforming Web3 content creation. This AI-driven platform caters to digital creators, supporting NFTs and inscriptions. Additionally, it provides AI creation tools, community engagement, and monetization options.

Finally, ShogunFis launch of an intent-centric protocol focuses on enhancing trader extractable value (TEV). It uses sophisticated order flow management and chain abstraction. This investment reflects Binances commitment to bettering the trading experience.

To kick-off Season 6 of The Binance Labs Incubation Program, Binance Labs hosted a founder-focused meet up during EthCC Paris in July for program alumni, portfolio founders and founders interested in the program to network and meet the Binance Labs Investment team, Binance Labs wrote.

Read more: How To Fund Innovation: A Guide to Web3 Grants.

Binance Labs, with its impressive track record of a 14x return on investment across 250 projects in 25 countries, has established itself as a pivotal player in nurturing the Web3 ecosystem.

The venture capital and incubation arm of Binance is known for its chain-agnostic and stage-agnostic investment approach, focusing on early-stage projects with the potential to shape the future of Web3. In 2023, despite a downturn in the crypto market, Binance Labs continued making over 25 investments, particularly in infrastructure, DeFi, and Web3 gaming.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that ourTerms and Conditions,Privacy Policy, andDisclaimershave been updated.

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3 Crypto Platforms That Binance Recently Invested In - BeInCrypto

Each year Valentines Day brings with it the promise of love and connection, its crucial to remember that not all that glitters is gold. In the age of online dating, romance scams have surged, with scammers exploiting emotions to cause significant financial harm.

Cryptocurrency, while a modern convenience, has also become a tool in these frauds. However, leaders in the crypto industry, such as Binance, are fighting back with rigorous security, compliance, and education to protect users.

Binances 2023 statistics reveal that romance scams constituted about 2% of all reported scam incidents. While this figure may appear small at first glance, the aggregate financial impact on victims was substantial, exceeding tens of millions of dollars, with an average loss of nearly $14,000 per victim. This highlights the significant financial threat posed by dating scams, emphasizing the critical need for increased vigilance and preventive measures within the cryptocurrency community.

The rise of romance scams is alarming, with the US Federal Trade Commission reporting a staggering increase in complaints and financial losses over the years. Finbold had previously reported romance scams cost Americans almost $350 million in 2021.

Notably, cryptocurrency, though not the most common payment method in these scams, still accounts for a significant portion of the losses. However, the notion that cryptocurrency inherently facilitates scams is misleading. Industry efforts, particularly by Binance, are making strides in reducing the impact of such fraudulent activities. Strong security measures, compliance, and user education are key in combating these crimes.

Binances commitment to security is evident in its collaboration with law enforcement agencies worldwide, processing thousands of information requests, conducting training, and raising awareness about scam tactics and prevention. Despite romance scams constituting a small percentage of total scam reports, the financial impact on victims is considerable, with losses running into tens of millions of dollars.

The crypto exchange actively promotes a secure cryptocurrency environment by partnering with global law enforcement. In 2023, its dedicated team, with over 70 members, addressed over 58,000 requests from 13,000+ officials worldwide.

A standout achievement was assisting the FBI and DOJ in tackling a pig butchering scam, a fraud scheme involving the fattening of victims accounts before draining them, which led to the recovery of $112 million. These efforts have significantly disrupted scammer operations.

All in all, Binance continues to advance law enforcements crypto knowledge through educational programs, covering blockchain basics and legal frameworks.

In 2023, it held 120 training sessions, both online and in-person, aimed at enhancing the platforms safety and safeguarding user investments against the backdrop of the rapidly changing crypto landscape.

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Binance uncovers the reality behind crypto romance scams - Finbold - Finance in Bold

In a surprising turn of events, a wallet associated with the Polygon Foundation recently transferred 9 million MATIC tokens to Binance, one of the leading cryptocurrency exchanges, sparking significant attention within the crypto community.

According to insights from analytics firm Spotonchain, Wallet 0x57f, which is linked to the Polygon Foundation, executed the transfer of 9 million MATIC tokens, valued at $7.75 million, to Binance at a price of $0.861.

This transaction briefly impacted the price of the MATIC token, causing a temporary decline before it rebounded, ultimately trading 1% higher on the daily chart.

A closer look at Wallet 0x57fs activity reveals a series of notable transactions and holdings:

It is worth highlighting that over the past five days, wallets associated with the Polygon Foundation have executed two significant transfers to Binance, totaling 15.5 million MATIC tokens at an average price of $0.85 per token, equivalent to $13.2 million.

The movement of MATIC tokens from the Polygon Foundation wallet to Binance has attracted considerable interest and speculation within the cryptocurrency community. As market participants analyze the implications of these transactions, the dynamics of the MATIC tokens price and overall market sentiment are closely monitored.

In an environment characterized by rapid developments and unexpected moves, understanding the motivations behind such transactions is essential for investors and stakeholders navigating the dynamic landscape of the cryptocurrency market.

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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Polygon Foundation Wallet Moves 9 Million MATIC Tokens To Binance, Prompting Market Interest - NullTX