IMPORTANT: Binance will be the first platform to list the token mentioned herein. Any claims to offer this token for sale before the stated timeline are false advertising. Please do your own research to ensure safety of your funds.
This is a general announcement. Products and services referred to here may not be available in your region.
Fellow Binancians,
Binance is excited to announce the 2nd project on Binance Megadrop - Lista (LISTA), a liquid staking and decentralized stablecoin protocol. Users can start participating in the Lista Megadrop from 2024-05-30 00:00:00 (UTC). The Lista Megadrop page is estimated to be available on the Binance App in 24 hours.
Binance will then list Lista (LISTA) at 2024-06-20 10:00 (UTC) and open trading with LISTA/BTC, LISTA/USDT, LISTA/BNB, LISTA/FDUSD, and LISTA/TRY trading pairs. The Seed Tag will be applied to LISTA. Read about Lista (LISTA) in our research report.
Lista Megadrop Period:
2024-05-30 00:00:00 (UTC) to 2024-06-19 23:59:59 (UTC)BNB Locked Products Snapshot Period: To maximize Locked BNB Scores, users may start locking their BNB in BNB Locked Products before 2024-05-30 00:00:00 (UTC), as hourly snapshots of users’ subscription amounts will be taken during this period. For more information on BNB Locked Products, refer to the FAQ.Web3 Quest Period: Users may complete Web3 Quest(s) during the Quest Period.Web3 Quest 1: “Stake 0.01 BNB in the ListaDAO DApp” (Tutorial) 2024-06-20 06:00:00 (UTC)Rewards Distribution: Users may view their Megadrop rewards in Binance Spot Wallet.
Lista Megadrop Details:
Token Name: Lista (LISTA)Max Token Supply: 1,000,000,000 LISTA Megadrop Token Rewards: 100,000,000 LISTA (10% of max. token supply)Initial Circulating Supply: 230,000,000 LISTA (23% of max. token supply)
User Eligibility: KYC required in eligible jurisdictionsHard Cap per User: 800,000 LISTARewards Calculation: Total Score = (Locked BNB Score * Web3 Quest Multiplier) + Web3 Quest BonusLocked BNB Score (based on hourly snapshots during the BNB Locked Products Snapshot Period) = (Average 120-day BNB Locked Amount * 130) + (Average 90-day BNB Locked Amount * 120) + (Average 60-day BNB Locked Amount * 110) + (Average 30-day BNB Locked Amount * 100) Web3 Quest Multiplier: 1.5Web3 Quest Bonus: 1,000
How to Get Started With Binance Megadrop*:
Log into your Binance account.Subscribe to BNB Locked Products and/or complete all designated Web3 Quest(s) via Megadrop on the Binance App to accrue scores. To complete Web3 Quests, make sure you have at least one active Binance Web3 Wallet. Create your first Web3 Wallet now if you have not yet done so.After completing all the designated Web3 Quest(s), tap on the [Verify] button at the Megadrop project page before the Quest Period ends to successfully obtain the Web3 Quest Bonus and Web3 Quest Multiplier.Receive Megadrop rewards based on your Total Score.
*Notes:
External wallets imported to Binance Web3 Wallet will not count. Only Multi-Party Computation (MPC) wallets that are created in Binance Web3 Wallet may participate in Megadrop events. About BNB Locked ProductsFor the calculations of Locked BNB Score, the "30 Days" multiplier will apply to all BNB Locked Products subscriptions with a duration of less than 30 days (e.g., 15 days).Users will receive different scores for each active subscription based on the subscription period. The longer the duration, the higher the Locked BNB Score. Refer to the BNB Locked Products page for the latest APRs and maximum subscription limits.Users may receive both Megadrop and Launchpool rewards at the same time (where applicable). There is no need to redeem BNB Locked Products positions to participate in Launchpools. BNB Vault assets will not count toward the Megadrop score calculation.
Lista (LISTA) Project Links:
WebsiteWhitepaperXMediumTelegramReddit
Further Information:
Binance Launches Megadrop: A Token Launch Platform with Airdrops and Web3 QuestsWhat Is Binance MegadropWhat Is Binance Web3 Wallet and How Does It WorkHow to Back Up Your Binance Web3 WalletFrequently Asked Questions on Megadrop and BNB Locked Products
Terms & Conditions:
Only users who complete identity verification in eligible jurisdictions may participate in the Lista (LISTA) Megadrop. During the BNB Locked Products Snapshot Period, snapshots of users’ BNB Locked Products subscription amounts will be taken multiple times at any point of time each hour to get users’ hourly average subscriptions and calculate users’ Locked BNB Score. Locked BNB Score will be updated on a daily basis.Each sub-account will not be viewed as an independent account when participating in this Megadrop. Sub-accounts’ subscription amount will be combined with the master account’s standard subscription amount.Please note that some features of Megadrop may not be available in every country due to regional restrictions. This includes, but is not limited to, Web3 Wallet access or participation in Simple Earn. Therefore it is possible that only some features of the Megadrop platform may be available in users’ regions, and users may have partial access to the Megadrop platform. Currently, users residing in the following countries or regions will not be able to participate in Megadrop by subscribing to BNB Locked Products or completing Web3 Quests: For Simple Earn BNB Locked Products participants: Australia, Canada, Cuba, Crimea Region, Hong Kong, Iran, Japan, Lithuania, New Zealand, Netherlands, North Korea, Russia, Singapore, Syria, United Kingdom, United States of America and its territories (American Samoa, Guam, Puerto Rico, the Northern Mariana Islands, the U.S. Virgin Islands), and any non-government controlled areas of Ukraine.For Web3 Quests participants: Australia, Brazil, Canada, Cuba, Crimea Region, Cyprus, Iran, Japan, New Zealand, Netherlands, North Korea, Russia, Singapore, Syria, United States of America and its territories (American Samoa, Guam, Puerto Rico, the Northern Mariana Islands, the U.S. Virgin Islands), and any non-government controlled areas of Ukraine.Please note that the list of excluded countries provided here is not exhaustive and may be subject to changes due to evolving local rules, regulations, or other considerations. This list may be updated periodically to accommodate changes in legal, regulatory, or other factors. Binance reserves the right to take any action if participants are found to commit the below behaviors, including but not limited to, wash trading, bulk account registration, self-dealing, etc.There may be discrepancies in the translated version of this original article in English. Please reference this original version for the latest or most accurate information where any discrepancies may arise.
Thank you for your support!
Binance Team
2024-05-28

The global cryptocurrency market cap now stands at $2.66T, up by 1.18% over the last day, according to CoinMarketCap data.

Bitcoin (BTC) has been trading between $69,712 and $71,552 over the past 24 hours. As of 09:30 AM (UTC) today, BTC is trading at $69,873, down by -1.11%.

Most major cryptocurrencies by market cap are trading mixed. Market outperformers include RVN, FIS, and LQTY, up by 29%, 29%, and 19%, respectively.

Top stories of the day:

Spot Bitcoin ETFs Resume Positive Flows, Net Inflows Exceed $12 Billion

Fed Chair Powell Indicates No Rush to Cut Interest Rates 

Stablecoin Market Cap Reaches $150.5 Billion, USDT Dominates With 69.48% Share 

Bitcoin and Ethereum Options Worth $15.1 Billion Set to Expire

UK Judge Orders Worldwide Freeze on Craig Wright's Assets 

Ark Invest CEO and 21Shares Co-Founder Differ on Spot Ether ETF Approval Odds  

Bonkbot Responds to Wallet Theft Allegations 

Hedge Fund Kerrisdale Capital Longs BTC, Shorts MicroStrategy Stock 

Bitcoin Futures Open Interest Reaches Record High  

Fidelity To Charge New Fees On ETFs From Nine Companies

Market movers:

ETH: $3537.67 (-1.25%)

BNB: $611.6 (+3.71%)

SOL: $184.92 (-1.23%)

XRP: $0.6142 (-1.29%)

DOGE: $0.21176 (+5.18%)

ADA: $0.6401 (-1.66%)

AVAX: $53.55 (-1.89%)

SHIB: $0.0000308 (-1.35%)

DOT: $9.449 (-1.28%)

BCH: $586.6 (+4.51%)

Top gainers on Binance:

RVN/USDT (+29%)

FIS/USDT (+29%)

LQTY/USDT (+19%)

According to BlockBeats, market maker GSR analyst Brian Rudick has significantly lowered the predicted probability of the U.S. Securities and Exchange Commission (SEC) approving a spot Ethereum ETF in May 2024. In a report on Wednesday, Rudick stated that the likelihood has dropped to 20%, compared to the 75% probability predicted by GSR in January.

The analyst explained that the SEC has faced political pressure to not approve more digital asset ETFs. Additionally, the SEC's investigation into whether Ethereum is considered a security could significantly reduce the chances of approval. Regulators may seek to avoid turning the potential approval of an Ethereum spot ETF into 'another major event.'

Regarding future expectations, the analyst believes that any approval process for a spot Ethereum ETF may take longer and could be affected by litigation events. Rudick now predicts that the most likely timeframe for Ethereum ETF spot approval is between 2025 and 2026.

Solana’s native token SOL (SOL) experienced a 12.8% increase from March 24 to March 26, only to face a downward correction to $186 afterward. Despite this, investors remain hopeful, citing the surge in activities such as memecoins and airdrops on the Solana network as key factors that could maintain SOL’s positive trajectory and potentially elevate its price above $200. 

SOL price succumbed to Bitcoin’s correction and a stricter regulatory environment

In a broader context, the cryptocurrency market faces potential vulnerabilities, particularly after Bitcoin (BTC) failed to hold above the $71,000 mark on March 26. This failure is seen as an indicator of dwindling investor confidence, especially concerning the outflows from spot Bitcoin exchange-traded funds (ETFs). Should institutional investors further reduce their stakes in listed crypto assets, the outlook for SOL and other alternative coins could darken.

Further pressure on SOL’s valuation could stem from recent legal actions by the U.S. Justice Department, which has brought criminal charges against KuCoin exchange and two of its founders. The U.S. Commodity Futures Trading Commission has accused KuCoin of offering unregulated and unlicensed derivatives contracts to U.S. clientele. Prosecutors maintain that the exchange facilitated transactions involving over $5 billion in “suspicious and criminal proceeds.”

Overlooking the short-term implications of Bitcoin's spot ETF flows and regulatory uncertainties, the price of SOL tends to respond favorably to growth within the Solana ecosystem. The successful performance of Solana SPL tokens, highlighted by the popularity of memecoins, has bolstered the blockchain's attractiveness to new projects, thereby sustaining demand for the SOL token.

A 30-day analysis of the Solana network reveals significant increases in user activity and volume, presenting a challenge to a bearish stance on SOL. Solana has notably narrowed the gap with its direct competitor, the BNB Chain (BNB), according to available data.

Top blockchains ranked by 30-day DApp volumes. Source: DappRadar

This data highlights that Solana's decentralized application (DApp) volumes saw a 334% increase in the 30 days leading up to March 26. In comparison, its competitors, BNB Chain and Arbitrum recorded growth rates of 146% and 82%, respectively. Moreover, the Solana network's active addresses surged by 43% to 2.66 million over the same period, outperforming the growth rates of BNB Chain’s 15% and Arbitrum’s 30%.

Derivatives markets reflect inflows to cryptocurrencies and bullish leverage demand for SOL

Forecasting the flows of spot Bitcoin ETFs and the market's response to a stricter regulatory landscape is impossible, so investors should focus on derivatives trading metrics to gauge market sentiment. Specifically, the behavior of perpetual contracts, often called inverse swaps, offers insights. These contracts include an embedded rate to balance leverage. Notably, a negative rate signals stronger demand from short sellers.

SOL perpetual futures 8-hour funding rate. Source: Coinglass

Recent observations highlight a strong leverage demand for bullish positions on SOL, seemingly undeterred by the token’s inability to surpass the $195 mark on March 26.

To further validate whether the inclination toward leveraged long positions mirrors the broader market sentiment, examining the demand for stablecoins in China can be enlightening. This is because such demand serves as an indicator of retail investors’ movements within or outside the cryptocurrency markets. The premium on USD Coin (USDC) transactions, when compared to the official U.S. dollar rate, is particularly telling.

USC Coin (USDC) peer-to-peer trades vs. USD/CNY. Source: OKX

On March 26, the USDC premium in China maintained a level above 3%, indicating a strong demand for converting the local CNY into the USDC stablecoin. This trend suggests sustained interest in cryptocurrencies within China, thereby supporting the optimistic outlook in SOL’s derivatives markets. Although it remains uncertain when SOL will breach the $200 threshold, the current on-chain and derivatives metrics suggest a healthy market environment.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

According to Foresight News, multi-chain NFT gaming ecosystem Polychain Monsters has launched an L3 gaming-dedicated chain based on Arbitrum Orbit with the support of Altlayer. The platform utilizes PMON for transactions, and Altlayer provides support from the initial gameplay on the testnet to the mainnet launch.