Analyst Predicts 8800% Ascent to $35 Cardano (ADA), Here’s When

Crypto analyst Fiery Trading has revealed a very bullish outlook for the Cardano (ADA) price. The digital asset which has been having a reasonably good run over the last few weeks is expected to shatter expectations as the analyst puts the price at $35.

Crypto Analyst Predicts 8800% Climb To $35 For ADA
Fiery Trading’s latest Cardano (ADA) prediction right be one of the most bullish for the digital asset this year. ADA, the native token of the Cardano network, is currently trading at $0.388 and if the crypto analyst’s prediction proves true, then it’ll be an 8,800% rise to $35.

The analyst presents the argument that ADA had already bottomed out last month and this is why the price has been in an uptrend. They place the bottom for the price downtrend at the bottom support of the parallel channel which happened right before the price recovery started.

As the analyst explains, “The parallel channel is formed by drawing a line between the two bull-market tops, and copying that exact line towards the Corona dump’s bottom.” So with this, ADA has confirmed the pattern, which is very bullish for the digital asset.

Fiery Trading explains that it is this trend that could drive the Cardano price toward the new all-time high of $35. However, this is not happening soon as the crypto analyst expects that the next market top for ADA during the bull market will happen sometime in 2025. Nevertheless, the analyst expects ADA to follow this pattern and ride it all the way above $35.

Mahesh Maurya Crypto Portfolio for 2024 Bullrun

1.Matic
2.Sol
3.Ada
4.Arb
5.Dot
6.Fida

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Pundit Envisions Cardano 6,000% Super Bullish Rocket To ‘$33 ADA Price’

Cardano (ADA), a perennial subject of speculative fervour, has once again seized the spotlight in the cryptocurrency sphere following a bold prediction from analyst Tyler Strejilevich. Strejilevich, a reputable figure known for his astute market analysis, the resurgence of a bullish trend reminiscent of a historical ADA price surge.

The Resurfacing of a Remarkable Trend
The crux of Strejilevich’s assertion centres on the reappearance of a bullish weekly cross, echoing patterns witnessed in June 2020 when ADA soared by an astonishing 6,000%. His latest revelation has set the stage for fervent anticipation among cryptocurrency enthusiasts, hinting at a potential meteoric rise in ADA’s value.

With ADA currently trading at $0.63, Strejilevich’s prediction suggests a staggering 6,000% surge, potentially propelling ADA’s value to approximately $33.55, eclipsing its previous all-time high of $3.09.

#BTC #ADAAnalysis

Can These Altcoins 1000x in the Crypto Bull Run? High Growth Crypto Coins and Top Altcoins To Buy Before 2024

The crypto market is filled with excitement as analysts foresee a potential bull run in 2024. Crypto enthusiasts, seasoned buyers, and traders are on the lookout for the next big surge and for coins beyond the more traditional Bitcoin and Ethereum.

The Definitive List of High-Growth Crypto Coins

1. ApeMax (APEMAX)
ApeMax spearheads a new era in meme coins with its revolutionary “Boost-to-Earn” staking protocol.

2. Shiba Inu (SHIB)
Shiba Inu, an Ethereum-based altcoin, features the Shiba Inu dog as its mascot. This younger altcoin has strategically positioned itself as the “Dogecoin killer”.

3. Polkadot (DOT)

Launched by Ethereum co-founder Gavin Wood, Polkadot strives to connect diverse blockchains, fostering seamless information sharing and collaboration through its interoperability and governance features.

4. Chainlink (LINK)
Chainlink offers a decentralized oracle network, enabling smart contracts to interact with external data and systems.

5. Solana (SOL)
Designed for decentralized applications and crypto-native projects, Solana’s high-performance blockchain platform boasts low transaction fees, scalability, and rapid block confirmation times.

6. Avalanche (AVAX)
Avalanche, a scalable blockchain platform, aims to provide decentralized applications and financial services.

Cardano (ADA) Rockets Towards $8.78 in 2024 as Polygon (MATIC) Eyes $1.99

Cryptocurrency analysts often predict token prices, offering insights into potential market movements. Two coins that have recently gained attention for their projected growth are Cardano (ADA) and Polygon (MATIC). ADA is anticipated to surge to $8.78 by 2024, while MATIC eyes a target of $1.99. Let’s examine these projections while mentioning another token with the potential for high returns.

Cardano (ADA): A Bullish Outlook 

BTC Direct’s Cardano (ADA) price prediction presents an optimistic outlook, predicting a steady climb for ADA. They foresee the Cardano price reaching $8.78 by December 2024. 

However, to achieve this target, the Cardano coin would have to surge to a market cap of $309B, marking a substantial 2,276% increase from its current market cap of $13B. 

Similarly, Cardano’s price would need a remarkable 2,272% jump from its current value of $0.37. Despite Cardano’s current position, sitting comfortably above the 21 and 50-day EMAs, this forecast appears highly ambitious and may face challenges to come true within the given timeline.

Polygon (MATIC) to $1.61 – Who Called This?
Polygon (MATIC) has emerged as a star in the crypto space, with projections suggesting a potential surge to $1.61 by December 2024, as reported by AMBCrypto. This growth implies a 109% increase in the Polygon price from its current $0.77 level. But remember that Polygon has not hit $1.60 since April 2022.

Additionally, Polygon’s market cap, now at $7B, would need to double to $14B to accomplish this milestone. In terms of its recent price performance, there was an uptick in Polygon’s price by 0.43% following the news of Lugano’s addition of Polygon PoS to its payment app. This indicates positive developments within the ecosystem.

Cardano Price Prediction: ADA Soars 8% Adding $1 Billion to its Market Cap

Ada Crosses towards 0.6$, Can cross 1$ Soon

The Cardano price has increased more than 8% over the last 24 hours to trade at $0.447 as of 3:00 a.m. EST as its total market value draws closer to $16 billion.

ADA saw its market capitalization soar by over $1 billion in just 24 hours from a low of $14.87 billion on Dec. 6 to today’s intraday high of $15.89 billion. This signals a new wave of buying pressure.

At the time of writing, Cardano’s market cap was at $15.823, cementing its position 8th-largest cryptocurrency by valuation, on the CoinMarketCap ranking.

The latest rally saw the Layer 1 token rally from a low of $0.417 on Wednesday to a peak of $0.456 reached during the early Asian trading hours on Thursday, representing a 9% gain. The move has added further momentum to a revival that has now brought ADA more than 89% off its mid-October lows.

Trading volume for ADA has also surged over the past 24 hours soaring to $774 million—a staggering 38% increase, according to data from CoinMarketCap.

As markets pause to take a breath amidst the ecstatic run witnessed this past week, ADA appears poised to capitalize further on any pullback should traders maintain conviction during moments of hesitation.

3 cryptocurrencies under $1 to buy for Xmas

While Xmas bells are already chiming through the streets, the cryptocurrency industry is starting to rejoice in what looks like a ‘fresh supercycle’ led by the flagship decentralized finance (DeFi) asset, Bitcoin (BTC), which has surpassed a massive price level at $41,000.

That said, although Bitcoin’s price tag at $41,512 per wholecoin might be too high for some, there are still other, cheaper assets, some that are even trading under the threshold of as little as $1, and Finbold has scoured the market to deliver the list of worthy cryptocurrency purchases for holidays this year.

#1 Cardano (ADA)
Specifically, considering its recent price action and popularity among institutional investors and whales, reflected in the surge in ADA transactions over $100,000 noted by professional crypto trader Ali Martinez, Cardano (ADA) is possibly looking forward to a continuation of the bullish trend, making it a good buy this Christmas.

As for its price at press time, it amounted to $0.40, down 1.45% in the last 24 hours but nonetheless advancing 6.30% across the previous seven days and making more significant progress of 16.62% on its monthly chart, as per the data on December 5

#2 Dogecoin (DOGE)

Meanwhile, Dogecoin (DOGE) managed to overcome a massive obstacle at $0.087 that Martinez earlier predicted could lead to a target of $0.14, which it could reach considering its DOGE-1 Satellite has received a green light from the National Telecommunications and Information Administration (NTIA) for its launch

#3 Polygon (MATIC)
In the meantime, Polygon (MATIC) whales have gone on a buying spree, scooping up 120 million MATIC in the last week of November, or $90 million worth of the token, as Martinez pointed out. At the same time, Coinbase International Exchange and Coinbase Advanced launched Polygon perpetual future contracts.

Cardano and Terra Luna Holders Race to Buy New Crypto following 15x Profit Projection

Cardano and Terra Luna are two tokens that have built impressive communities in recent years, with early holders making profits during this period. As the year draws to a close, top holders are moving towards the promise of a new token BorroeFinance ($ROE), with the allure of 15x projections.

Cardano’s Rollercoaster and Terra Luna’s Ascent
Cardano has enjoyed a rollercoaster stint since its launch. The top altcoin has gone through the highs of the crypto bull run and the lows of the crypto winter. With its staggered release of updates, the token has drawn comparisons with Ethereum as a well-thought-out project bringing smart contracts to the blockchain ecosystem.

Similarly to Cardano, Terra Luna has experienced its own ascent and descent following the stablecoin UST crash in 2022. Despite this significant development, holders have stayed with the token and are on the lookout for new tokens as the crypto frenzy increases ahead of 2024.

Bitcoin crosses $40,000 mark. Why is crypto rising again?

Experts say this has been fuelled by expectations of the US Fed cutting interest rates in 2024 and the eventual approval of a Bitcoin ETF

Bitcoin and Ethereum breach the $41,000 and $2,200 marks
US Fed is expected to cut interest rates in 2024, potentially improving liquidity
Bitcoin ETF approval could drive up the price of the world's largest cryptocurrency

The crypto market is witnessing its best performance since May 2022, with Bitcoin and Ethereum breaching the $41,000 and $2,200 marks, respectively. The latest rally has taken the total crypto market cap to the $1.54 trillion, a 2023 high. Experts say the growing confidence in the crypto market has been fuelled by expectations of the US Federal Reserve cutting interest rates in 2024 and the eventual approval of a Bitcoin ETF, which could drive up the price of the world’s largest cryptocurrency.

“This surge represents a year-to-date peak for Bitcoin, showcasing an impressive 140% increase since the beginning of the year. More than just a numerical value on a chart, the surge in Bitcoin price reflects a broader shift in the sentiment around crypto. The current upward trend is largely attributed to mounting expectations of a potential approval by the SEC for a spot Bitcoin ETF in January,” said Rahul Pagidipati, CEO, ZebPay.

At the macro level, anticipation of interest rate cuts by the Federal Reserve has propelled commodity prices higher. Gold has hit historic highs, and Bitcoin has rebounded by nearly $15,000 over the past month. With the potential for a US economic recession, fund managers predict an 80% consensus level for a trend of interest rate reduction in 2024, marking the highest consensus level ever recorded. The crypto market has already factored in this positive news, explained Ryan Lee, Chief Analyst of Bitget Research.

Arbitrum (ARB) is Preparing to Debut!

#Arbitrum (ARB), which has been around 1 dollar for a long time, approached the potential breakout with a 7 percent increase in the last two days.

The crypto market continues its bullish progress. BTC's rise to the 39 thousand dollar band put altcoins on the attack again. BTC followed an up-and-down chart last week. For this reason, retreats were seen in altcoins. Especially major coins followed a calm price chart with #BTC factor. ARB, one of these majors, has been around $1 for a long time.

ARB, which draws attention with its calmness in the 1 dollar region, rose by 7 percent in two days and is on the verge of a significant breakout. #ARB could rise to $1.20 if market conditions remain positive.

Popular tier-2 project Arbitrum (ARB) is preparing to debut after remaining calm in the $1 region for a long time. ARB is up 7 percent in the last two days.

ARB failed to accompany the positive crypto market in November. The popular cryptocurrency started its decline at $1.22 on November 8 and completed it at $0.95 on November 22. ARB, which regained $ 1 towards the end of November, exhibited calm price movement in the $ 1 region. ARB, which could not take off despite all expectations, started December strong.

ARB experienced a 7 percent increase throughout December. The popular cryptocurrency rose from $1 to $1.0790. The Layer-2 project experienced a 12 percent volume increase in the last 24 hours. ARB volume reached $219 million in the last 24 hours.
$BTC $ARB #BinanceSquare

Cardano Layer-2 Protocol Announces Concerning News for Algorand Users

Cardano Layer-2 protocol shakes up Algorand users with worrisome announcement

Milkomeda, a Layer-2 protocol currently live on Cardano and the Algorand mainnet, has announced concerning news for Algorand users.

In a new tweet, Milkomeda shares an important update for Cardano and Algorand. It stated that the Milkomeda A1 rollup on the Algorand mainnet is currently not generating sufficient fees to cover the operating expenses of its validators, and this shortfall has forced a difficult decision to be made.

Milkomeda A1's validators will be shutting down at the end of May 2024. In light of this, users with funds on AI are urged to transfer them within the next six months to ensure their safety. Milkomeda’s journey began with the launch of its first sidechain, called Milkomeda C1, on Cardano.

According to Milkomeda, while the Algorand rollup is battling its sustainability, Milkomeda C1 on Cardano is showing promising signs despite the crypto market's ongoing challenges. It goes on to say that the Milkomeda C1 is presently generating adequate fees from transactions and delegation to sustain the network.

Milkomeda V2, a game-changing upgrade for the Cardano ecosystem and C1 sidechain, unlocking new possibilities and enhancing the platform’s capabilities, went live a few months ago. This transformative update introduced three core features, such as wrapped smart contracts, liquid staking and upgrades to validator set management to make it easier to add more validators. Milkomeda says that following the recent upgrade to v2 (version 2.1), it is hopeful about Milkomeda C1's prospects for becoming fully independent and sustainable.

Cardano (ADA) Price Trend Might Be Decided as Bulls Await Breakout

Cardano (ADA), the eighth largest cryptocurrency by market capitalization, is giving mixed signals across multiple timeframes, including the four-hour and weekly charts.

According to Ali, the TD Sequential presents a buy signal on the four-hour chart, indicating that another rebound might be on the way.

Meanwhile, on the ADA weekly chart, the same TD sequential indicator showed a sell signal. In this case, losing the $0.37 level as support could cause a drop to $0.34 or $0.33. ADA, on the other hand, must close over $0.40 to advance toward $0.46.

Cardano was seeing a drop in value at the time of writing, mirroring wider crypto market declines. Cardano is currently trading at $0.3735, down 2.86%.
As bulls stay in limbo awaiting the next major move, the next price direction remains crucial. To confirm the direction of the ADA trend, Ali urges ADA traders to pay attention to the four-hour candlestick just above the $0.396 resistance or below the 100-EMA near $0.35 to confirm the direction of the ADA trend.

ADA sits in demand zone
Cardano was unable to break through the $0.40 barrier, which could have enticed short-term traders to take winnings.

Cardano is currently trading in a major demand zone between $0.37 and $0.38, with 166,470 wallets acquiring 4.88 billion ADA. According to Ali, staying above this zone might open the way for ADA to set new yearly highs.
#BinanceTournament #BTC #adacardano #USTC #CryptoMovement

3 cryptocurrencies under $5 to buy next week

The cryptocurrency market is a realm teeming with opportunities. Although the limelight frequently falls on prominent cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH), there are a bunch of hidden gems trading below the $5 mark

Near Protocol (NEAR)
NEAR is a public Proof-of-Stake (PoS) blockchain that aims to bring DeFi to the masses with low transfer fees and fast transactions. It competes with Solana (SOL), Cardano (ADA), the new version of Ethereum, and other PoS networks.

Theta Network (THETA)
Theta Network (THETA) is currently establishing support at the 20-day Exponential Moving Average (EMA) at $0.88, following a recent correction in the past few days.

This trend suggests that overall sentiment remains positive, with traders interpreting the recent dips as a favorable buying opportunity. The fact that the price is finding support at the 20-day EMA indicates resilience in the market, and investors seem inclined to consider these corrections as a chance to enter or add to their positions.

Arbitrum (ARB)
In 2023, the cryptocurrency community was abuzz with excitement surrounding the launch of the Arbitrum token (ARB), an event highly anticipated by crypto enthusiasts. The token launch didn’t disappoint, as it came with a massive airdrop, offering participants the opportunity to secure up to 12,000 tokens, equivalent to over $10,000.

Cardano (ADA) Price Makes Unexpected Breakthrough

Cardano (ADA) has triumphantly pierced through the previously impenetrable resistance level at the $0.4 mark. This surge past a key price point marks a momentous occasion for the digital asset, reflecting a sudden spike in buying interest and market confidence. However, this breakthrough was met with volatility, as ADA/USDT struggled to maintain its position above this critical threshold, sliding back below shortly after.

Cardano's ascent toward the $0.4 level was closely watched by investors, as this price point had established itself as a formidable barrier in past trading sessions. The initial push past this level brought with it a wave of optimism, suggesting that ADA might consolidate its gains and use the newfound high as a launchpad for further growth. Yet, the market's fluctuating dynamics did not favor a sustained stance above this pivotal point, leading to a retraction in price.

Despite this pullback, the frequent tests of the $0.4 resistance level bode well for future attempts. Each encounter with this ceiling chips away at its strength, as sell orders at this price become increasingly exhausted. The principle of resistance fatigue suggests that the more often a level is tested, the more likely it is to eventually give way to persistent market forces.

The repeated assaults on the $0.4 frontier are indicative of Cardano's underlying market strength. Each rally to this level acts as a probe, gauging the resilience of selling pressure and the commitment of buyers. As ADA's price oscillates around this key battleground, the anticipation builds for a potential decisive breakout that could redefine the asset's medium-term trajectory.

Investors and traders alike are now attuned to Cardano's performance, seeking to ascertain whether the next approach to $0.4 will culminate in a definitive and sustainable breakout. The current market sentiment, mixed with the strategic placements of buy and sell orders around this level, will determine ADA's capacity to claim new heights.

3 cryptocurrencies under $1 to buy next week going to be Huge pump Soon

The cryptocurrency market presents a vast array of opportunities, and while the spotlight often shines on major cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH), there are hidden gems trading below the $1 mark.

Despite their lower value, these lesser-known altcoins might hold growth potential. However, it’s vital to recognize that they come with a higher level of risk.

For investors who have a higher risk tolerance, allocating 10% to 20% of their investment capital into these altcoins could offer an exciting opportunity to diversify their portfolio and position themselves for significant gains in the potential bull market.

Polygon (MATIC)
Ethereum is widely recognized as the primary platform for smart contracts, but its popularity has led to high gas fees for users. This is where Polygon (MATIC) comes into play – it functions as an Ethereum Layer 2 scaling solution.
Layer 2 solutions are built on top of an existing blockchain to enhance scalability and address issues such as high transaction fees and slow processing times.

Polygon’s main purpose is to help blockchains alleviate these challenges on their chains. The network claims the capability to process thousands of transactions per second (TPS), which is a substantial improvement compared to Ethereum’s TPS rate of approximately 15.

$Stellar (XLM)
Stellar (XLM), a peer-to-peer (P2P) decentralized network, has recently been on a bullish trendline. XLM is currently valued at $0.12, showing a slight 24-hour increase of 0.3%.

XRP
XRP facilitates international money transfers through its blockchain-based payment protocol, and it’s currency trading

#BTC #Blast #Onchain #RichardTeng #cbdc

From $1 to $10: How to Identify Coins for Explosive Investment Growth⁉️⁉️

How can a beginner know which coins will rise and go up in price?

This is one of the most asked questions by newbie investors as they spend time reading articles to look at price predictions of different crypto assets.

The crypto space is unpredictable which means it’s not easy to predict what the price of an asset will be.

👉There are different stories about how people grew their crypto portfolio by selecting and investing in coins that were under $200 million in market cap.

👉The popular strategies used to pick are usually very technical: concepts like project tokenomics, Market use case, Marketing and Social hype are some of important basics of doing research on coins.

However, this requires a lot of understanding about technical concepts used to explain the project.

This poses a problem as to how beginners will know if a coin will do well

The answer to this question is to check the market cap, does the community holding the coin still think it’s a good coin to buy or are they looking for an opportunity to sell their coins

If you are trading with a much larger capital, it’s smart to invest in one of the top two cryptocurrencies by market cap, choose to buy and hold bitcoin and eth.

When you notice that there is a lot of hype around a certain crypto project, it’s a great option to look for coins that are in the same industry but lower in market cap to buy.

Another thing is as a beginner it’s not the best option to start diversifying your crypto portfolio if you don’t know what things to look out for.

A better option is to stick to the coins that have been in the space for a longer time and as your investments start to grow, then you can diversify with part of profits based on potential risk tolerance.

#Onchain #BTC #BTC/Update: #ETH #RichardTeng

Binance's CZ and the End of the 'Borderless' Crypto Company

We probably will never see another company quite like Binance. Crypto itself might be borderless, but crypto companies are not beyond the reach of US law.

Tuesday marks the end of an era. Binance's Changpeng Zhao stepped down and pleaded guilty to violating U.S. anti-money laundering requirements, despite the fact that Binance was never a U.S. exchange. With that, the myth of “borderless” crypto companies is truly over.
To be sure, this is not the first time that U.S. law enforcement nailed a crypto exchange that was not officially in the country. The same thing happened with FTX. But no company exemplified the “borderless” myth more than Binance, which will also pay a $4.3 billion dollar fine to settle an investigation from the U.S. Department of Justice.

CARDANO BULLISH May Cross 20$

Cardano’s ADA has been on the watchlist of investors and analysts, many of whom believe the coin is set for a massive bullish rally even despite recent market corrections.

Despite the price decline over the weekend, ADA has recorded roughly 50% gains in the last 30 days. Analysts are now closely watching key resistance levels that ADA has unsuccessfully failed to break this year.

ADA Poised for Price Breakout Despite Recent Struggle

Analyst and crypto Youtuber LuckSide Crypto acknowledged that ADA has lagged behind other major cryptocurrencies in price performance amid recent volatility. Still, he reassured investors that significant gains for ADA are on the horizon.

The analyst highlighted ADA’s persistent attempts to breach the 40-to-41 cent range, a formidable obstacle it has grappled with throughout the year, facing rejection and downward pressure.

As we can see in the 1-month chart, ADA tried to break above 40 cents two times this November — far more than any other month in 2023, suggesting bulls are trying to take over the narrative as the overall market sees a healthy recovery. That said, ADA managed to float above 40 cents in April, which lasted only about a week.

The analyst drew parallels between BTC and ADA, stating that if BTC manages to break above $38k, ADA will also try to break its crucial resistance levels. He attributed the potential surge to Bitcoin’s recent ability to maintain a position above its 20-month moving average, marking a new monthly green close.

LuckSide is not the only investor with bullish hopes for ADA. Many analysts are convinced the coin is in its “pre-bull” phase, and we might see the coin recording gains of over 100% in the upcoming months.

Dan Gambardello, the Founder of Crypto Capital Venture, foresees ADA achieving an all-time high of approximately $11. Like LuckSide’s analysis, Gambardello also draws attention to historical trends, noting that ADA experienced substantial price growth one year after the previous BTC halving.

#RichardTeng #adacardano #BTC

10 Emerging Cryptocurrency Picks for Potential Wealth in 2024

CryptocurrencyLatest News
10 Emerging Cryptocurrency Picks for Potential Wealth in 2024

Ashi Soni
November 21, 2023 2 mins read
Crypto

These are the 10 Cryptocurrency picks for potential wealth in 2024
In the dynamic realm of cryptocurrencies, the quest for the next groundbreaking opportunities intensifies as we peer into 2024. This guide unveils 10 emerging cryptocurrency picks poised for substantial growth. From blockchain interoperability to eco-friendly mining solutions, these selections represent innovative projects with the potential to redefine the digital asset landscape.

1. Polkadot (DOT)
Polkadot has emerged as a frontrunner in the race for blockchain interoperability.

2. Cardano (ADA)
Cardano, with its commitment to scalability, sustainability, and interoperability, has become a beacon of progress in the cryptocurrency space.

3. Chainlink (LINK)
Chainlink plays a pivotal role in the blockchain ecosystem as a decentralized oracle network.

4. Solana (SOL)
Solana distinguishes itself with its high throughput and low transaction costs.

5. VeChain (VET)
VeChain’s focus on supply chain management and product tracking sets it apart in the cryptocurrency space.

6. Theta Token (THETA)
Theta Token has set its sights on revolutionizing the streaming industry by decentralizing content delivery.

7. Polygon (MATIC)
Formerly known as Matic Network, Polygon addresses the scalability issues of the Ethereum blockchain.

8. Stellar (XLM)
Stellar focuses on facilitating cross-border transactions and acting as a bridge between traditional financial systems and blockchain.

9. Aave (AAVE)
Aave operates as a decentralized lending and borrowing platform, leveraging smart contracts for peer-to-peer transactions.

10. Chia (XCH)
Chia introduces a unique consensus algorithm called Proof of Space and Time, promoting an eco-friendlier approach to cryptocurrency mining. With a focus on sustainability

Binance gets new CEO after Changpeng Zhao steps down: Who is Richard Teng?

Former founder-CEO Changpeng Zhao in a post on X has said he is looking forward to seeing the new leadership take the reins and asked his followers on X to join in congratulating new CEO Richard Teng 'on his well-deserved promotion'.

Founder-CEO of Binance, the world's largest cryptocurrency exchange Changpeng Zhao has stepped down from his role after pleading guilty to breaking US anti-money laundering laws. As part of the deal, Zhao is not allowed to take on a management position in the company for the next three years, as per reports.

Thus, in his announcement on social media site X, formerly Twitter, Zhao announced that Richard Teng, Binance's global head of regional markets, will take over as CEO.

"I’m pleased to announce that @_RichardTeng, our now former Global Head of Regional Markets, has been named the new CEO of Binance today. Richard is a highly qualified leader and, with over three decades of financial services and regulatory experience, he will navigate the company through its next period of growth. He will ensure Binance delivers on our next phase of security, transparency, compliance, and growth," Zhao wrote.