•Binance, the leading cryptocurrency trading platform in the world, revealed... announced plans for a token burning scheduled to take place on Monday, January 22. The burning will be done for Binance linked via different chains. •This initiative does not come as a surprise considering that the cryptocurrency exchange has conducted such token burnings in the past which mostly involved encrypted Binance tokens. •About the recent Binance Burn Initiative In a recent post on X, Binance announced that their team “will burn a large amount of tokens associated with Binance on different chains.” In addition, they indicated that the process will include releasing an equivalent amount of these tokens on their original networks. Which served as a guarantee earlier. However, the exact size of the burn or which cryptocurrencies will be affected is not yet known. •These token burnings have become a common practice among cryptocurrency platforms and developers. Generally, such burns are used to manage the token supply. While Binance mostly aims to burn inactive tokens to boost its economics. •Token Burn in September 2023 On September 14, Binance revealed its plan to start a major token burn. It was also announced on her official X account. Among the candidates for burning, four of the five tokens identified were Binance USD (BUSD) tokens across different blockchains. The exchange's initiative involved burning the tokens staked on the original blockchains and then releasing the equivalent number of tokens initially used as collateral. •Moreover, a similar process will be followed in today's final cremation. Tokens in the September Burn lineup include TUSDOLD on the BSC chain and BUSD across the MATIC, BNB, BPSC and TRX chains. The token burn began right after the cryptocurrency exchange announced that it would end support for BUSD in 2024 due to regulatory challenges from the US Securities and Exchange Commission (SEC). $MATIC $BNB $TRX #Follow.us To see more news and details about digital currencies

•After the price of the Cardano currency (Cardano-ADA) recently approached recording new lows for this year below the $0.47 level, it then recovered to reach the $0.50 mark again, but its movements are still limited within a limited corrective range; The current ADA price levels represent a decline of approximately 27% compared to its multi-year high of $0.60, which was recorded last December. After this rise and the hype surrounding Cardano's third web technical system, the Total Reserved Value (TVL) of the blockchain is going through a period of stagnation, knowing that TVL means the total value in dollars of the digital currencies reserved within the mechanism of smart contracts on the blockchain. TVL on the Cardano blockchain recently recorded approximately $427 million, down from highs of nearly $500 million in December. •The TVL stalemate comes at a time when the crypto sector as a whole is suffering from the “sell on the news” reaction to the approval of the creation of Bitcoin Spot ETFs last week amid an atmosphere of... adverse to the overall economy; Is it likely that the price of Cardano (ADA) will take an upward or downward path? •Cardano Price Forecast: Which Direction Will ADA Go? •Since the beginning of 2014, the price of Cardano has been trending downward as its short-term uptrend lacked momentum. •This downward path deepened last week when Cardano price failed to breach the previous ascending support line and stabilize above it, so it now faces the risk of falling below the main long-term support level at $0.46, which could give a more negative outlook to its short-term movements in the future, but if... The collective mood of the crypto market in general has improved, and this may be accompanied by a recovery in the price of Cardano as well. •Disclaimer: Cryptocurrencies belong to a high-risk asset class and this article represents information only and cannot be considered as investment advice in any way; This type of investment may lead to you losing your entire investment. $ADA #Follow.us To see more news and details about digital currencies ✅💯

•The recent influx of investments from financial giants like BlackRock is reshaping market dynamics. A discussion between Roundtable presenter Rob Nelson and Trade The Chain CEO Alex Mascioli highlighted this major shift. •Initially, Nelson expressed doubts about the scale of investments by companies such as BlackRock. However, as the conversation progresses... Insights have emerged about the true impacts of these investments on market behavior and pricing dynamics within the world of cryptocurrencies. •BlackRock's strategy and its impact on the market BlackRock's involvement, particularly through its long-awaited exchange-traded fund (ETF), indicates . To a more profound strategy than it seems at first glance. Although it looks modest. However, Mascioli noted that the company's initial investments are part of a larger, long-term plan. •He stressed the unprecedented demand in the market. Which featured a record investment of $3 billion in one day. This increase raises questions about potential capacity constraints in the Bitcoin market. Which could lead to a scarcity of available Bitcoin if large-scale purchases continue. •The Impact of Capital Flows on the Price of Bitcoin The dialogue also covered how these massive capital inflows impact the price of Bitcoin. Nelson suggested that an increase in investment would inevitably lead to higher prices to balance supply and demand. Mascioli agreed, emphasizing the role of synthetic markets and financial derivatives in expanding the market. •This perspective is consistent with the general feeling that the participation of major financial institutions such as BlackRock could lead to broader adoption of cryptocurrencies in traditional finance. •At the same time, BlackRock's marketing approach to the iShares Bitcoin Trust ETF (IBIT) stands out. BlackRock's campaign targets a more mature audience than other issuers who often resort to flashy imagery and pop culture references. It was their first video ad. Which features a BlackRock executive. Free from cryptocurrency jargon and opt for a straightforward explanation of Bitcoin's value proposition. This strategy resonates well with an older, more affluent demographic. They are often called the “boomer generation.” •Bitcoin ETF Marketing Competitive Landscape The Bitcoin ETF marketing war is heating up, with several issuers such as Bitwise, Hashdex, VanEck, ARK Invest, and Grayscale launching their campaigns. Each is vying for a share of the growing interest in Bitcoin ETFs. However, BlackRock and Fidelity Investments' approach signals a shift toward a more traditional investment narrative. Which could lead to wider acceptance of Bitcoin in traditional financial wallets. $BTC $ETH #Follow.us to see more crypto news.

•NEW YORK – Meme currencies, a category of cryptocurrencies that have gained popularity due to their catchy themes and high-return potential, continue to capture the attention of investors. It is worth noting that the Shiba Inu (Investing.com Shiba Inu Index), one of the most prominent digital currencies, has maintained a market value of more than $5 billion, which highlights the great interest in these digital assets. •Simulated currencies, often inspired by internet jokes or pop culture references, have become a prominent part of the broader cryptocurrency market. The rise of these currencies was marked by the success of Dogecoin, which reached a large market value in 2021, which indicates the attractiveness of these tokens and their speculative nature. •The cryptocurrency community not only focuses on trading, but also participates in activities such as “Airdrops,” a set of events in which startups distribute free tokens to existing token holders. This strategy is used to drive adoption and build a user base in the DeFi ecosystem. This also reflects a growing trend in the cryptocurrency space where community engagement and network effects are being leveraged to increase the value and utility of a token. •While enthusiasm for meme coins like the Shiba Inu is evident, the market for these cryptocurrencies is known for its volatility. We also advise potential investors to exercise caution due to unexpected price fluctuations that may characterize the assets, based on social media trends and individual investor sentiment. •This article was drafted and translated with the help of artificial intelligence and reviewed by one of the site's editors. For more information, see our terms and conditions $SHIB #Follow.us To see more news and details about digital currencies 💵✅💯

•The price forecast for the Terra Luna Classic-LUNC coin remains negative despite the community's attempts to reduce its circulating supply through coin burning. According to a tweet posted on the @AlexCryptoBull account, 700 million LUNC coins were burned this week, along with 230,000 UST coins, the algorithmically stable Terra Classic blockchain token that lost its peg to the US dollar in May 2022. •One of the results of the separation of the UST currency from the US dollar during that period was the departure of huge investments in this currency, which led to a massive inflation in the LUNC currency, which was used in the Terra Classic technical system as a guarantee for the peg of the value of the UST currency to the US dollar. •The Luna Classic coin is currently trading slightly below the $0.000095 level after declining by approximately 25% within a week. This price decline comes after the price fell from the ascending line that has been extending since last November and stabilized below. •The recent decline also shows that the price of LUNC remains on a downward trend from its highest levels recorded at the beginning of last December above the $0.00028 level. •Luna Classic coin price chart - Source: TradingView Accordingly, the LUNC coin has lost 66% of its value since its last price increase. •It is noteworthy that the recent burning of LUNC coins did not have any significant effect in boosting investor morale, as the 700 million coins that were burned constitute no more than 0.00012% of its total supply, which amounts to about 5.79 trillion coins, according to CoinMarketCap. •Returning to the luncmetrics.com website, 94.78 billion LUNC coins have been burned since May 13, 2022, that is, a short period after the major collapse of the original Terra blockchain. The Binance platform burned about 52% of these coins and continued to provide support for the Terra blockchain. . •Expectations for the price of the Terra Luna Classic coin: Will it witness an upward shift soon? •The price of LUNC coin is currently trying to maintain its levels at the 50-day moving average (50DMA) indicator at $0.000092, and if the price falls below this indicator, the possibility of it falling towards the support level at $0.00007 will increase, which will turn into a resistance level after breaking it. •Luna Classic coin price chart - Source: TradingView The possibility of the Luna Classic coin price changing upward trend remains very weak, as the projects associated with Luna Classic no longer enjoy the confidence of investors after its blockchain collapsed in 2022, causing billions in losses. •According to DeFi website LIama, the total value locked (TVL) on the Terra blockchain was only $3.25 million. TVL refers to the total value of digital currencies locked in smart contracts on the blockchain in dollars. •For comparison, the total value locked on the Terra blockchain was close to $35 billion before its collapse in May 2022; The decrease in the total value locked on the Terra blockchain confirms its transformation into an unused pariah network, causing LUNC to fall into the status of a useless coin (shitcoin). $LUNC #Follow.us To see more news and details about digital currencies 🙂🔥💯💵✅

•OKX aims to compensate users affected by the recent collapse of its native token, OKB. This announcement comes after the value of the token witnessed a significant decline on January 23. This caused widespread concern among investors and traders. •Sudden drop in OKB value On the morning of January 23, OKB's value dropped dramatically, falling 48% from $46.80 to $25.10 in less than 15 minutes. This sharp decline resulted in a significant loss of $6.5 billion in diluted market capitalization. However, the token has shown resilience, quickly rebounding to a trading value of $45.94 at reporting time. •OKX employees explained the sudden drop due to the liquidation of several large leveraged positions. The next chain reaction saw a further decline in the price of the token due to market effects. Resulting in the liquidation of collateralised loans, leveraged transactions and cross-currency transactions. •In response to the disturbance caused by the sudden collapse. OKX has committed to fully compensating users for any additional losses incurred due to abnormal liquidation. The trading platform assured its users that a specific compensation plan will be developed and issued within the next 72 hours. The move is seen as a step towards maintaining user confidence and stabilizing market confidence after the incident. •OKX's decision to offer compensation follows a broader trend in the cryptocurrency industry, where trading platforms increasingly bear responsibility for protecting their users from market anomalies and technical glitches. This approach is crucial in an industry known for its volatility and inherent risks. •Broader Market Moves and OKX's Regulatory Compliance Efforts OKB's sudden collapse occurred against significant movements in the broader cryptocurrency market. Notably, Grayscale Bitcoin Trust (GBTC) sold a large amount of Bitcoin (BTC) to meet investors' redemption requests in its exchange-traded fund. This event was part of a larger market trend. Sold FTX, a bankrupt cryptocurrency trading platform. Nearly $1 billion worth of GBTC ETF shares as estates begin liquidation to repay creditors. •Thanks to these market dynamics, OKX is strengthening its regulatory compliance. In December 2023. The trading platform announced the delisting of several privacy coins, including Monero (XMR). Zcash (ZEC), Dash (DASH), and Horizon (ZEN). This move is in line with global regulatory trends, as trading platforms are examined to ensure compliance with Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations. •Furthermore, on January 2, OKX introduced additional requirements for UK users to comply with new Financial Conduct Authority (FCA) requirements. These measures included the mandatory completion of risk assessment questionnaires before users are allowed to trade. Demonstrating OKX's commitment to regulatory compliance and user safety. #OKB #Follow.us To see more news and details about digital currencies 💵✅🔥💯

•Social networking site X, formerly known as Twitter, paved the way for the launch of the payments feature by creating a dedicated account on its platform. This step led to the rise of Dogecoin, a famous meme coin in the cryptocurrency market. •The newly created account, titled “X Payments,” has a gold verification badge and a distinct X logo, indicating it is officially associated with the platform. Despite the lack of posts, the account has gathered more than 106,000 followers as of writing this report. •The launch of this feature is in line with the strategy of the social networking site “X” to introduce the payment feature on the platform later this year. The company aims to introduce peer-to-peer (P2P) payments through which two people interact directly with each other, without intermediary by a third party. Recent reports stated that the richest man in the world and owner of the platform, Elon Musk, hinted at the possibility of launching this feature by mid-2024. •Having obtained licenses across multiple US states, These licenses come as Musk seeks to turn X into an “everything app” similar to other apps such as “WeChat” from Tencent. •Musk's favorite currency reacts to the news. The announcement of the approaching launch of the payment feature on "X" greatly affected "Dogecoin", which is Musk's favorite digital currency. Many members of the cryptocurrency community are speculating about potential use cases for the meme within the payments platform. •However, Musk's positive stance towards the digital currency significantly fuels this speculation, as evidenced by Tesla (NASDAQ: TSLA) accepting Dogecoin as a means of payment for its goods. •At the same time, speculation surrounding the potential integration of Dogecoin translated into a strong rise in its price during yesterday's trading. The token was traded at around $0.085, reflecting a growth of 10%, but these increases have been reduced significantly over the past 24 hours, as it is now declining by about 3% to $0.083, while recording an increase of 2.8% in the last 7 days, According to the data available on the Investing Saudi Arabia website. $DOGE #Follow.us To see more news and crypto details ✅💯

•The price of Bitcoin (Bitcoin-BTC) settled to close its trading this week near the level of $41,600, with a slight decline of 0.4% compared to its close last week at approximately $41,750, as its volatility decreased following the approval of the US Securities and Exchange Commission (SEC) on Bitcoin spot trading funds in... Stock Exchange (Bitcoin Spot ETFs), which put an end to speculation about the committee’s decision, according to Matteo Greco - an analyst and researcher at Fineqia International - who said in a memo obtained by our website Cryptonews.com that the offering of Bitcoin Spot ETFs succeeded in attracting a lot of investments from Traditional financial markets to the digital assets market, where these 11 funds together were able to attract investments worth approximately $1.15 billion. Greco added: •However, inward investments for these 11 ETFs combined were reduced in part due to outflows from Grayscale Bitcoin Trust (GBTC). •Exit of investments worth more than $2.8 billion from the GBTC Fund •The analysis indicated that the GBTC investment fund, whose shares have been traded since 2015, was recently converted into an exchange-traded fund (ETF). •After this transfer, the investment product witnessed the exit of large investments worth approximately $2.81 billion, which reduced the net investments coming into the 11 Bitcoin spot trading funds on the exchange - from $3.96 billion to $1.15 billion. Before the conversion, GBTC contained approximately 620,000 BTC assets, and this number has now decreased to only 552,000 BTC. •Greco explained that the exit of investments from the GBTC product may be due to two factors: First, customers who previously owned GBTC shares could not redeem their value, but could only sell them on the secondary market due to the nature of the product, forcing many to hold their positions for a long period with no exit option other than selling at a significant discount. •Second, as a result of Grayscale's high management fees - 1.5% - compared to most of its current competitors' fees of around 0.2-0.3%, some investors have withdrawn their investments from GBTC either to take advantage of the profits or to reinvest in less expensive ETFs. •Bitcoin spot ETFs (BTC Spot ETFs) witnessed great activity and huge trading volumes. In the first six trading days after their launch, the cumulative trading volume of the 11 funds together reached approximately $16.6 billion, with an average of approximately $2.77 billion per day. •As expected, the GBTC fund recorded the highest trading volume because it contains a large amount of reserved Bitcoin, after the nature of its activity changed following its conversion to an exchange-traded fund (ETF). •Ethereum Spot ETFs (ETH Spot ETFs) are on the horizon •After the success of launching BTC Spot ETFs, the attention of both analysts and traders in the sector is now turning towards the possibility of launching ETFs related to trading other digital assets, and analysts expect - by 70% - that the establishment of ETFs for Ethereum spot trading (ETH Spot ETFs) will be approved this year. •It is noteworthy that the state of optimism regarding these expectations is on the rise thanks to the price movements of the Ethereum currency (Ethereum-ETH), which followed the approval of applications for BTC Spot ETFs, as some investments were transferred from Bitcoin to Ethereum, which led to an increase in the price of ETH by 17%. Compared to Bitcoin, by 11% against the dollar within a week of approval, this indicates the sector traders’ conviction that requests for ETH Spot ETFs will be approved after the approval of its predecessor, BTC Spot ETFs, which prompted them to adjust their investment positions in accordance with these expectations. $BTC $ETH #Follow.us To see more news and details about digital currencies ✅💯🔥

•The market value of stable currencies rose to its highest levels in 11 months with an increase in activity on the blockchain at the beginning of the year, as a recent market study conducted by the crypto analytics company CCData indicated an increase in the market value of stable currencies coinciding with an increase in market share, trading volumes, and institutional investments in the digital assets market. . •This month, the market value of stablecoins rose by 2.45%, reaching $134 billion, which is its highest level since last February - that is, in eleven months - in addition to this being the fourth month in a row of its rise. Stablecoin trading volume reached $995 billion in December, a monthly increase of 27.6%, marking the highest activity on centralized exchanges (CEXs) in the past year. •Optimism toward exchange-traded funds (ETFs) increases market activity •The report indicates that trading volumes in January will exceed those of December, as blockchain trading volume has already reached $579 billion on January 10 - with 20 days remaining until the end of the month - and before the approval of... SEC on Spot Bitcoin ETFs. •The months leading up to the approval of Bitcoin ETFs were filled with expectations that sparked market reactions, as institutional investors increased their investment in digital assets. Stablecoins have always been known for their balanced nature and not experiencing fluctuations like Bitcoin and other altcoins, which made them preferred by institutional investors. •On the other hand, stablecoins have long been considered an effective tool for entry and exit into the crypto market, recording increases whenever institutional investment incentives are renewed. Previously, the movements of Bitcoin and altcoins led to a decline in the dominance of the stablecoin market, representing a decline for the fifth month in a row. •The dominance of stablecoins in the market has decreased from 7.78% in December to 7.78%, while Tether (USDT) continues to lead stablecoins in terms of trading volume and market capitalization, as it holds 70.8% of the market share of the top 10 stablecoins. •Meanwhile, FDUSD overtook USDC in terms of trading volume with a market share of 8.96% in January compared to USDC's 8.43% share of stablecoin trading volume. •PYUSD, which gained tremendous momentum upon its launch, recorded a growth of 11.2% with a market capitalization of $260 million in January, entering the list of the top ten stablecoins for the first time. •Central banks expand research into central bank digital currencies (CBDCs) •The aforementioned report highlighted the most important developments related to central bank digital currencies (CBDCs), such as the Bank of Spain choosing partners to test its CDBC currency; Experiments in Turkey have also entered the second phase, while China is dealing with its first money laundering case using CBDC. •In January, developments in central bank digital currencies (CBDCs) were relatively calm, the most important of which was the Eastern Caribbean Central Bank and the European Central Bank inviting merchants to use their respective CBDCs, i.e. DCash and the digital euro, respectively. •Furthermore, the European Central Bank will further develop offline digital euro transactions, and the Reserve Bank of India plans to find faster and cheaper ways to pay internationally using CBDC. $FDUSD $USDC #Follow.us To see more news and details about digital currencies 💯💵✅🔥