Author: Andrei Ionescu
Binance has announced the postponement of the highly anticipated listing of Binance Staked SOL (BNSOL) as collateral for Cross Margin trading. Initially set to go live on October 14, 2024, at 08:00 UTC, the listing has been delayed until further notice, according to a company statement released Monday. The BNSOL/SOL trading pair on Isolated Margin will also face a brief delay, now set to launch at 11:30 UTC on the same day, instead of the originally scheduled 08:00 UTC. Binance did not provide specific reasons for the postponements but assured users that updates will be communicated as soon as new…
Ethereum co-founder Vitalik Buterin has published a new article outlining potential upgrades to Ethereum’s Proof-of-Stake (PoS) system. Buterin’s proposals aim to achieve two major objectives: single-slot finality—where blocks are confirmed within one slot—and democratized staking by lowering the minimum staking threshold to just 1 ETH. Key Proposals for Ethereum’s PoS Improvement To reach these goals, Buterin outlined three potential solutions: Implications for Ethereum Users and Stakers The proposed lower threshold of 1 ETH significantly reduces barriers for small investors, promoting greater decentralization by allowing more participants to validate transactions. This could strengthen Ethereum’s network security and resilience. Achieving single-slot finality…
Bitcoin briefly surpassed $64,000 on Monday during Asian afternoon trading, driven by positive market sentiment from China’s economic stimulus efforts. The cryptocurrency rose 2% in the past 24 hours, trading at $63,900 as of 2 a.m. UTC. “A significant driver of this momentum appears to be the recently announced stimulus package from China, which has bolstered market sentiment,” said Min Jung, an analyst at Presto Research. China’s Finance Minister, Lan Fo’an, unveiled plans to introduce a fiscal stimulus package to revive the country’s economy, though specific figures were not disclosed. The Shanghai Composite Index responded positively, rising 2.12% during the…
In a recent interview with analysts at Bernstein, Michael Saylor, founder and executive chairman of MicroStrategy, outlined the company’s vision to become the leading bitcoin bank, aiming for a trillion-dollar valuation. Since 2020, MicroStrategy has aggressively acquired bitcoin, leveraging debt and equity to build the largest corporate bitcoin holdings in the world. MicroStrategy’s latest purchase of 7,420 BTC took its total holdings to 252,220 BTC, valued at over $15 billion, against a total cost of around $9.9 billion. This represents approximately 1.2% of bitcoin’s total supply, positioning the company as a dominant player in the bitcoin market. Saylor sees bitcoin…
Bitcoin is on the verge of marking its longest-ever period of sideways price action, frustrating bulls anticipating a significant rally before the year’s end. With the U.S. elections looming and rising U.S. Treasury yields, the cryptocurrency’s stagnant performance is attributed to various macroeconomic factors, including political uncertainty and market conditions. As of Friday, 285 days have passed since Bitcoin’s halving in April, with prices fluctuating between $59,000 and $65,000. If no major price rally occurs within the next two weeks, it will mark the longest sideways market since any previous halving, according to CryptoQuant founder Ki Young-Ju. Typically, halving events—where…
Binance, a leading global cryptocurrency exchange, has announced the launch of new Trading Bots services for select trading pairs on Binance Spot. Starting on October 11, 2024, at 08:00 (UTC). Users will be able to access Spot Grid and Spot Dollar-Cost Averaging (DCA) bots for the following trading pairs: The TRY in the EIGEN/TRY pair refers to the Turkish Lira (a fiat currency) and does not represent any digital assets. Trading of these new pairs will be available based on users’ country or region of residence. Eligibility may vary, as Binance periodically updates its list of restricted countries due to…
Binance has announced the upcoming addition of Binance Staked SOL (BNSOL) to its suite of financial products, including Binance Simple Earn, Binance Convert, and Binance Margin, offering new opportunities for users to engage with the popular staked asset. EarnStarting on October 10, 2024, at 08:00 UTC, Binance Simple Earn will feature BNSOL Simple Earn Flexible Products, allowing users to subscribe and earn rewards by staking their BNSOL holdings. This flexible staking option enables participants to earn yield without locking their assets for long periods. ConvertBinance Convert will begin offering BNSOL within one hour of its listing on Binance Spot, providing…
South Korea’s Financial Services Commission (FSC) is set to reevaluate its ban on local spot cryptocurrency exchange-traded funds (ETFs) and institutional accounts on crypto exchanges, signaling a possible shift in the country’s strict stance on digital asset exposure in traditional financial markets. This move, reported by local news outlet News1, comes as the FSC’s newly formed cryptocurrency advisory committee reviews the current restrictions. The FSC’s decision marks a significant change from its previous hardline stance, which had reaffirmed a ban on local crypto ETFs even after the U.S. approved spot Bitcoin ETFs earlier this year. The ban was initially justified…
The ongoing rise in Bitcoin’s (BTC) dominance rate may face a significant challenge from the U.S. Federal Reserve’s recent rate-cutting cycle, according to SwissOne Capital, a prominent crypto asset management firm. Historically, BTC dominance and U.S. interest rates have shown a positive correlation, suggesting that further rate cuts could stall the current uptrend in Bitcoin’s market share. Over the past two years, Bitcoin’s dominance rate has surged from 38% to 58%, signaling its outperformance relative to the broader cryptocurrency market. This rise has occurred alongside the doubling of the total digital asset market capitalization to over $2 trillion, according to…
Layer 2 scaling solution Optimism has launched its fifth airdrop, allocating 10.3 million OP tokens worth approximately $16 million to 54,700 user addresses. The airdrop rewards users who have been actively engaging with the Superchain, a network of blockchains built using Optimism’s OP Stack technology. The airdrop focused on users interacting with various chains within the Superchain ecosystem, including OP Mainnet, Base, Zora, Mode, Metal, Fraxtal, Cyber, Mint, Swan, Redstone, Lisk, Derive, BOB, Xterio, Polynomial, Race, and Orderly. To qualify, wallets needed to have interacted with at least 20 contracts across the Superchain between March 15 and September 15, 2024.…