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Ethena (ENA) Hit Major Support Level: Will This Pattern Lead to a Recovery?
Date: Sun, February 16, 2025 | 07:44 AM GMT
The cryptocurrency market was under pressure after the November rally, with major altcoins facing steep corrections. However, the market is showing signs of recovery this week as Bitcoin dominance has dropped by 1.26% over the past seven days, creating room for altcoins to regain strength.
Meanwhile, despite this, Ethena (ENA) is still struggling to find upside momentum as it remains down by 11% in the last seven days while experiencing a significant 57% correction in the last 60 days.
Source: Coinmarketcap
Amid these decline, the asset has reached key support level, forming a potential V-bottom pattern—a historically bullish reversal structure that could signal a strong comeback.
V-Bottom Setup
On the daily chart, $ENA initially saw an impressive rally of over 300% from November to mid-December, surging from $0.32 to a high of $1.33 on December 16. Since then, it has faced a heavy correction, dropping by almost 70%, which took its price to a bottom support zone at $0.4017.
Ethena (ENA) Daily Chart/Coinsprobe (Source: Tradingview)
Meanwhile, ENA appears to be forming a V-bottom pattern, a V-shaped formation that appears when price momentum switches from aggressive selling to aggressive buying.
As of now, ENA is trading at $0.4495, and if this pattern plays out, confirmation could occur if it breaks above the 200 MA resistance. A successful breakout could lead ENA to a rapid recovery, likely targeting the previous $1.33 high, representing a 192% increase from the current price.
The MACD indicator is showing early signs of bullish momentum. The MACD line is attempting a crossover above the signal line, which could indicate a shift towards buying pressure. If confirmed, this could support the V-bottom pattern and further upside movement.
Final Thoughts
With ENA reaching a key support zone and forming a V-bottom reversal pattern, it could be poised for a significant recovery if the 200 MA resistance is broken. However, failure to hold current levels could result in further downside pressure. Traders should watch for volume confirmation and technical signals before making any trading decisions.
As always, investors should remain cautious and conduct their own research before making financial moves.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always conduct your own research before investing in cryptocurrencies.
The cryptocurrency market was under pressure after the November rally, with major altcoins facing steep corrections. However, the market is showing signs of recovery this week as Bitcoin dominance has dropped by 1.26% over the past seven days, creating room for altcoins to regain strength.
Meanwhile, despite this, Ethena (ENA) is still struggling to find upside momentum as it remains down by 11% in the last seven days while experiencing a significant 57% correction in the last 60 days.
Source: Coinmarketcap
Amid these decline, the asset has reached key support level, forming a potential V-bottom pattern—a historically bullish reversal structure that could signal a strong comeback.
V-Bottom Setup
On the daily chart, $ENA initially saw an impressive rally of over 300% from November to mid-December, surging from $0.32 to a high of $1.33 on December 16. Since then, it has faced a heavy correction, dropping by almost 70%, which took its price to a bottom support zone at $0.4017.
Ethena (ENA) Daily Chart/Coinsprobe (Source: Tradingview)
Meanwhile, ENA appears to be forming a V-bottom pattern, a V-shaped formation that appears when price momentum switches from aggressive selling to aggressive buying.
As of now, ENA is trading at $0.4495, and if this pattern plays out, confirmation could occur if it breaks above the 200 MA resistance. A successful breakout could lead ENA to a rapid recovery, likely targeting the previous $1.33 high, representing a 192% increase from the current price.
The MACD indicator is showing early signs of bullish momentum. The MACD line is attempting a crossover above the signal line, which could indicate a shift towards buying pressure. If confirmed, this could support the V-bottom pattern and further upside movement.
Final Thoughts
With ENA reaching a key support zone and forming a V-bottom reversal pattern, it could be poised for a significant recovery if the 200 MA resistance is broken. However, failure to hold current levels could result in further downside pressure. Traders should watch for volume confirmation and technical signals before making any trading decisions.
As always, investors should remain cautious and conduct their own research before making financial moves.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always conduct your own research before investing in cryptocurrencies.
Binance Labs Clarification
1. The Distinct Relationship Between Labs and Binance
Binance Labs has undergone a rebranding and now operates independently as Yzi Labs, with Ella Zhang at the helm and oversight from CZ. While Labs has backed thousands of projects, only a select few make it to Binance's listing platform. Since its inception, Labs and Binance have functioned as separate entities, with autonomous decision-making processes.
Token listings on Binance are safeguarded by strict layers of security protocols, ensuring impartiality. However, when Binance chooses to distribute certain tokens via airdrops, it may serve as an indirect indicator of interest. Investment details from Labs, including project affiliations and other stakeholders, are publicly accessible. Any allegations of unethical conduct, such as bribery, are taken seriously. Concrete evidence should be submitted directly to CZ or Ella, while reports concerning Binance or He Yi can be directed to the internal audit channels. Whistleblower rewards remain active for valid reports.
2. Misconceptions About He Yi and Personal Connections
The crypto space is rife with individuals claiming close ties to He Yi or CZ for personal gain. False claims of being a "best friend," relative, or even a "fiancé" have surfaced, often used in deceptive schemes. Despite He Yi’s continuous refutations, misconceptions persist. Labs encourages collaboration with all credible institutions and project teams, emphasizing transparency and integrity over personal connections.
To dispel myths, Labs is now managed by Ella Zhang, a trusted associate and co-founder. For those intent on leveraging "connections," the proper channels are open through Ella. He Yi, as a Binance co-founder, upholds a "user-first" philosophy, valuing feedback from both retail investors and industry professionals. Regular interactions and open communication are a part of her leadership approach.
3. Market Dynamics and Reflections on the Current Landscape
As a committed BNB holder, I adhere to the principles of value investing—believing that long-term value underpins price. During the 2017 cycle, Web3 entrepreneurs focused on infrastructure, given its high valuation potential without immediate revenue models. Over time, the decentralization-cost-speed trilemma has been addressed, leading to innovations like DeFi, GameFi, and the metaverse in 2021. Yet, token performance remains subdued due to regulatory hesitations around security tokens.
The resurgence in 2024 has been fueled by traditional finance's entry, particularly through ETFs, highlighting the crypto market's scarcity of quality assets. The U.S.'s crypto-friendly stance under President Trump and evolving regulations have reignited enthusiasm. Moving forward, entrepreneurs are encouraged to embed tangible value into tokens, beyond governance functions or meme culture. The industry needs substantive utility to ensure sustainable growth.
4. Navigating Public Opinion and Upholding Integrity
The crypto industry's evolution from a niche geek community to a global phenomenon has brought its share of challenges and criticisms. Blockchain's revolutionary potential in transforming production relations is often overshadowed by projects lacking substantive value. Many ventures focus on superficial innovations without generating real economic output. The ease of token issuance has led some to prioritize short-term gains over long-term credibility and value creation.
True success requires a balance of capability and integrity. Binance’s journey, including BNB's growth, exemplifies the importance of aligning financial goals with a mission to positively impact the world. Entrepreneurs driven solely by profit may falter, while those committed to meaningful change are more likely to create lasting, quality assets.
Public scrutiny and unfounded rumors are inevitable in any high-profile endeavor. Personal attacks and misinformation have been part of my journey, but I have learned to transform negativity into growth. Constructive criticism and verified evidence are welcome, ensuring that the industry remains transparent and accountable. We remain committed to fostering a fair and ethical crypto ecosystem, inviting all stakeholders to contribute positively.
#BinanceLabs #CryptoInvesting #BlockchainInnovation #Web3Projects
Binance Labs has undergone a rebranding and now operates independently as Yzi Labs, with Ella Zhang at the helm and oversight from CZ. While Labs has backed thousands of projects, only a select few make it to Binance's listing platform. Since its inception, Labs and Binance have functioned as separate entities, with autonomous decision-making processes.
Token listings on Binance are safeguarded by strict layers of security protocols, ensuring impartiality. However, when Binance chooses to distribute certain tokens via airdrops, it may serve as an indirect indicator of interest. Investment details from Labs, including project affiliations and other stakeholders, are publicly accessible. Any allegations of unethical conduct, such as bribery, are taken seriously. Concrete evidence should be submitted directly to CZ or Ella, while reports concerning Binance or He Yi can be directed to the internal audit channels. Whistleblower rewards remain active for valid reports.
2. Misconceptions About He Yi and Personal Connections
The crypto space is rife with individuals claiming close ties to He Yi or CZ for personal gain. False claims of being a "best friend," relative, or even a "fiancé" have surfaced, often used in deceptive schemes. Despite He Yi’s continuous refutations, misconceptions persist. Labs encourages collaboration with all credible institutions and project teams, emphasizing transparency and integrity over personal connections.
To dispel myths, Labs is now managed by Ella Zhang, a trusted associate and co-founder. For those intent on leveraging "connections," the proper channels are open through Ella. He Yi, as a Binance co-founder, upholds a "user-first" philosophy, valuing feedback from both retail investors and industry professionals. Regular interactions and open communication are a part of her leadership approach.
3. Market Dynamics and Reflections on the Current Landscape
As a committed BNB holder, I adhere to the principles of value investing—believing that long-term value underpins price. During the 2017 cycle, Web3 entrepreneurs focused on infrastructure, given its high valuation potential without immediate revenue models. Over time, the decentralization-cost-speed trilemma has been addressed, leading to innovations like DeFi, GameFi, and the metaverse in 2021. Yet, token performance remains subdued due to regulatory hesitations around security tokens.
The resurgence in 2024 has been fueled by traditional finance's entry, particularly through ETFs, highlighting the crypto market's scarcity of quality assets. The U.S.'s crypto-friendly stance under President Trump and evolving regulations have reignited enthusiasm. Moving forward, entrepreneurs are encouraged to embed tangible value into tokens, beyond governance functions or meme culture. The industry needs substantive utility to ensure sustainable growth.
4. Navigating Public Opinion and Upholding Integrity
The crypto industry's evolution from a niche geek community to a global phenomenon has brought its share of challenges and criticisms. Blockchain's revolutionary potential in transforming production relations is often overshadowed by projects lacking substantive value. Many ventures focus on superficial innovations without generating real economic output. The ease of token issuance has led some to prioritize short-term gains over long-term credibility and value creation.
True success requires a balance of capability and integrity. Binance’s journey, including BNB's growth, exemplifies the importance of aligning financial goals with a mission to positively impact the world. Entrepreneurs driven solely by profit may falter, while those committed to meaningful change are more likely to create lasting, quality assets.
Public scrutiny and unfounded rumors are inevitable in any high-profile endeavor. Personal attacks and misinformation have been part of my journey, but I have learned to transform negativity into growth. Constructive criticism and verified evidence are welcome, ensuring that the industry remains transparent and accountable. We remain committed to fostering a fair and ethical crypto ecosystem, inviting all stakeholders to contribute positively.
#BinanceLabs #CryptoInvesting #BlockchainInnovation #Web3Projects
🏛Ripple Labs argues that the US Securities and Exchange Commission's request to inspect additional financial documents is invalid.
Ripple questions the relevance of the requested information to the court's decision to impose penalties in the case.
#Write2Earn #TradeNTell #binancelabs #BinanceTrends
Ripple questions the relevance of the requested information to the court's decision to impose penalties in the case.
#Write2Earn #TradeNTell #binancelabs #BinanceTrends
The world is evolving, and cryptocurrency is evolving along with it, as reflected in $BTC price movements.
New projects with strong fundamentals continue to emerge in the market. Among them is $XTER, which was recently launched. Based on market indicators, it may perform well compared to $STRK and $GAS .
With backing from investors like #BinanceLabs and Amonica Ventures, plus the Bitget deposit event offering $100k in #xter , this project appears to be in its early stages.
New projects with strong fundamentals continue to emerge in the market. Among them is $XTER, which was recently launched. Based on market indicators, it may perform well compared to $STRK and $GAS .
With backing from investors like #BinanceLabs and Amonica Ventures, plus the Bitget deposit event offering $100k in #xter , this project appears to be in its early stages.
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After days of ups and downs $BNB officially broke through an important area at $615 🔥🔥
After CZ's post "It's just the beginning" - Aiming for the next target $700 🥇
#MarketDownturn #binancelabs
After CZ's post "It's just the beginning" - Aiming for the next target $700 🥇
#MarketDownturn #binancelabs
Binance Labs unveils investment in Usual
#BinanceLabs invests in #Usual to redefine stablecoins with community-first innovation. Raised funds will help Usual accelerate its mission to redefine stablecoins and drive the adoption of decentralized financial systems.
Usual is a project focused on issuing secure and decentralized fiat stablecoins, redistributing ownership and governance through the $USUAL token.
👉 x.com/BinanceLabs/status/1871209616690082120
#BinanceLabs invests in #Usual to redefine stablecoins with community-first innovation. Raised funds will help Usual accelerate its mission to redefine stablecoins and drive the adoption of decentralized financial systems.
Usual is a project focused on issuing secure and decentralized fiat stablecoins, redistributing ownership and governance through the $USUAL token.
👉 x.com/BinanceLabs/status/1871209616690082120
BLUM Listing in October
As per leaks Blum is going to be listed on October in Binance and Binance Launchpool. Binance labs is a investor on Blum!
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Blum: An Innovative Exchange Integrated with Telegram Is Making a Huge Sense in the Crypto World
Blum offers a unique model that combines the features of a decentralized exchange with the simple user experience of Telegram. Thanks to this integration, the platform has been able to attract millions of users at an incredible speed, leveraging Telegram’s massive user base. Blum’s interactive rewards mechanism and futuristic features like memepad add to its appeal. With strong support from Binance Labs and prominent partnerships, Blum looks set to become a major player in the decentralized crypto market, with an upcoming airdrop likely to further expand its reach and influence.
#binancelabs
Blum offers a unique model that combines the features of a decentralized exchange with the simple user experience of Telegram. Thanks to this integration, the platform has been able to attract millions of users at an incredible speed, leveraging Telegram’s massive user base. Blum’s interactive rewards mechanism and futuristic features like memepad add to its appeal. With strong support from Binance Labs and prominent partnerships, Blum looks set to become a major player in the decentralized crypto market, with an upcoming airdrop likely to further expand its reach and influence.
#binancelabs
𝐁𝐢𝐧𝐚𝐧𝐜𝐞 𝐋𝐚𝐛𝐬 𝐑𝐞𝐛𝐫𝐚𝐧𝐝𝐬 𝐭𝐨 𝐘𝐙𝐢 𝐋𝐚𝐛𝐬 🚀
#BinanceLabs is now #YZILabs , reflecting its independence and expanded focus on Web3, AI, and biotech innovation.
✨ Key Updates:
- Leadership: CZ mentors founders; Ella Zhang returns as Head to lead the next growth phase.
- Focus Areas: Investments in transformative sectors like AI and biotech, alongside Web3 innovation.
- Incubation Program: Reintroducing in-person 12-week residency to foster founder collaboration.
- Track Record: Over 250 projects supported globally, with more than 65 through incubation.
A fresh identity, expanded focus, and continued dedication to supporting visionary founders. 🌐
#BinanceLabs is now #YZILabs , reflecting its independence and expanded focus on Web3, AI, and biotech innovation.
✨ Key Updates:
- Leadership: CZ mentors founders; Ella Zhang returns as Head to lead the next growth phase.
- Focus Areas: Investments in transformative sectors like AI and biotech, alongside Web3 innovation.
- Incubation Program: Reintroducing in-person 12-week residency to foster founder collaboration.
- Track Record: Over 250 projects supported globally, with more than 65 through incubation.
A fresh identity, expanded focus, and continued dedication to supporting visionary founders. 🌐
Binance Labs Vision 2025: Focused on the Cryptocurrency, AI, and Biotech sectors, optimistic about DeSci, RWA/Stablecoins, and AI Agent pathways
#BinanceLabs #BinanceAlphaAlert #BTCMiningPeak #btc2025 #DEXVolumeRecord
#BinanceLabs #BinanceAlphaAlert #BTCMiningPeak #btc2025 #DEXVolumeRecord
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Blum: An Innovative Exchange Integrated with Telegram Is Making a Huge Sense in the Crypto World
Blum offers a unique model that combines the features of a decentralized exchange with the simple user experience of Telegram. Thanks to this integration, the platform has been able to attract millions of users at an incredible speed, leveraging Telegram’s massive user base. Blum’s interactive rewards mechanism and futuristic features like memepad add to its appeal. With strong support from Binance Labs and prominent partnerships, Blum looks set to become a major player in the decentralized crypto market, with an upcoming airdrop likely to further expand its reach and influence.
#binancelabs
Blum offers a unique model that combines the features of a decentralized exchange with the simple user experience of Telegram. Thanks to this integration, the platform has been able to attract millions of users at an incredible speed, leveraging Telegram’s massive user base. Blum’s interactive rewards mechanism and futuristic features like memepad add to its appeal. With strong support from Binance Labs and prominent partnerships, Blum looks set to become a major player in the decentralized crypto market, with an upcoming airdrop likely to further expand its reach and influence.
#binancelabs
Awesome news here🔥
#BinanceLabs has invested in #THENA to Drive Mass Adoption of Decentralized #Finance 💪
$THE only way is UP🚀
#BinanceLabs has invested in #THENA to Drive Mass Adoption of Decentralized #Finance 💪
$THE only way is UP🚀
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Binance Labs 2025 Vision: Focus on Crypto, AI, and Biotech, Optimistic about DeSci, RWA/Stablecoins, and AI Agent.
#Binance #BinanceLabs #ИИ #bnb #CryptoNewss
$BNB
$XRP
#Binance #BinanceLabs #ИИ #bnb #CryptoNewss
$BNB
$XRP
💠 Binance Labs công bố top 13 dự án của chương trình MVB mùa 7.💠
🔹 Chương trình kéo dài 10 tuần này được tổ chức bởi BNB Chain kết hợp với Binance Labs và chào đón thêm CMC Labs (CoinMarketCap) làm đối tác chiến lược cho mùa giải này.
🔸 MVB tiếp tục là một chương trình cạnh tranh khốc liệt, với Mùa 7 nhận được hơn 700 ứng viên đăng ký tham gia. Một quá trình tuyển chọn khắt khe đã chấp nhận 1,8% tổng số hồ sơ nộp đơn để chào đón 13 dự án hàng đầu, tập trung vào 3 lĩnh vực là DeFi (Tài chính phi tập trung), Infrastructure (cơ sở hạ tầng) & Application Layer (lớp ứng dụng).
🔹 Danh sách chi tiết về 13 dự án được chọn:
- BitU Protocol
- Blum
- Surf protocol
- Vooi, Aggregata
- Nesa
- Nimble Metwork
- Aspecta
- Holoworld
- Opinion Labs
- SideQuest Web3
- Story Chain
- Tilted
#TradeCoinVN #BinanceLabs #MVB #BinanceVietnam
🔹 Chương trình kéo dài 10 tuần này được tổ chức bởi BNB Chain kết hợp với Binance Labs và chào đón thêm CMC Labs (CoinMarketCap) làm đối tác chiến lược cho mùa giải này.
🔸 MVB tiếp tục là một chương trình cạnh tranh khốc liệt, với Mùa 7 nhận được hơn 700 ứng viên đăng ký tham gia. Một quá trình tuyển chọn khắt khe đã chấp nhận 1,8% tổng số hồ sơ nộp đơn để chào đón 13 dự án hàng đầu, tập trung vào 3 lĩnh vực là DeFi (Tài chính phi tập trung), Infrastructure (cơ sở hạ tầng) & Application Layer (lớp ứng dụng).
🔹 Danh sách chi tiết về 13 dự án được chọn:
- BitU Protocol
- Blum
- Surf protocol
- Vooi, Aggregata
- Nesa
- Nimble Metwork
- Aspecta
- Holoworld
- Opinion Labs
- SideQuest Web3
- Story Chain
- Tilted
#TradeCoinVN #BinanceLabs #MVB #BinanceVietnam
watbird Airdrop by Gamee launching on 23 september
one think to notice ,that is BINANCE lab invest in this project so
big chance of listing at binance
WAT AIRDROP 👇👇JOIN
#WatBird #Gamme #binancelabs #Airdrops #BinanceLaunchPool🔥 $BTC
$ETH
$BNB
one think to notice ,that is BINANCE lab invest in this project so
big chance of listing at binance
WAT AIRDROP 👇👇JOIN
#WatBird #Gamme #binancelabs #Airdrops #BinanceLaunchPool🔥 $BTC
$ETH
$BNB
Recent Crypto News And Event
1. Osmosis (OSMO)
Launches cross-chain token portal called Polaris.The platform will allow users to trade tokens across multiple blockchains through a single interface, eliminating the need for multiple wallets, bridges, and gas tokens.
2. Polygon Labs
Partnered with Fabric Cryptography.Polygon Labs and Fabric Cryptography roll out ZK chips to accelerate AggLayer, bringing Verifiable Processing Units to the AggLayer ecosystem.
3. Binance Labs
Invested in the top 5 projects from the MVB program.The five high-performing projects in the latest season of the Most Valuable Builder (MVB) program include Aggregata, Blum, Opinion Labs, SideKick, and Vooi.
4. CleanSpark
Buys 7 Bitcoin mining facilities for $30M.CleanSpark announced it will acquire seven Bitcoin mining facilities and associated land in the Knoxville, Tennessee, area for total cash payments of $27.5M, or about $324,000 per megawatt.
5. Indodax
Falls victim to a hack worth over $22M.More than $14M worth of Ethereum-based tokens, $2.4M in TRX, $1.4M in BTC, and $2.5M in MATIC, along with smaller amounts of other tokens, were stolen in the attack.
6. Paxos
Set to launch its products on the Arbitrum Network.Paxos has decided to bring its stablecoin issuance and regulated tokenization platform to Arbitrum. Arbitrum stablecoins are currently available on Ethereum, Polygon POS, and Solana.
7. Ozean
Joined forces with Velodrome Finance.Velodrome will expand to the Ozean blockchain as its anchor DEX and provide the essential liquidity and incentives needed to support the growth of the Ozean blockchain.
8. Mirada AI (MIRX)
Announced a partnership with Ape Arcade.Mirada AI has partnered with Ape Arcade, a multi-platform gaming ecosystem on Telegram by Ape Terminal. Previously, Mirada AI announced multiple IDOs.
9. Hamster Kombat (HMSTR)
HMSTR on Binance Launchpool and Super Earn!
#BinanceLaunchpoolHMSTR #OSMOS/USDT #PolygonLabs #BinanceLabs
Launches cross-chain token portal called Polaris.The platform will allow users to trade tokens across multiple blockchains through a single interface, eliminating the need for multiple wallets, bridges, and gas tokens.
2. Polygon Labs
Partnered with Fabric Cryptography.Polygon Labs and Fabric Cryptography roll out ZK chips to accelerate AggLayer, bringing Verifiable Processing Units to the AggLayer ecosystem.
3. Binance Labs
Invested in the top 5 projects from the MVB program.The five high-performing projects in the latest season of the Most Valuable Builder (MVB) program include Aggregata, Blum, Opinion Labs, SideKick, and Vooi.
4. CleanSpark
Buys 7 Bitcoin mining facilities for $30M.CleanSpark announced it will acquire seven Bitcoin mining facilities and associated land in the Knoxville, Tennessee, area for total cash payments of $27.5M, or about $324,000 per megawatt.
5. Indodax
Falls victim to a hack worth over $22M.More than $14M worth of Ethereum-based tokens, $2.4M in TRX, $1.4M in BTC, and $2.5M in MATIC, along with smaller amounts of other tokens, were stolen in the attack.
6. Paxos
Set to launch its products on the Arbitrum Network.Paxos has decided to bring its stablecoin issuance and regulated tokenization platform to Arbitrum. Arbitrum stablecoins are currently available on Ethereum, Polygon POS, and Solana.
7. Ozean
Joined forces with Velodrome Finance.Velodrome will expand to the Ozean blockchain as its anchor DEX and provide the essential liquidity and incentives needed to support the growth of the Ozean blockchain.
8. Mirada AI (MIRX)
Announced a partnership with Ape Arcade.Mirada AI has partnered with Ape Arcade, a multi-platform gaming ecosystem on Telegram by Ape Terminal. Previously, Mirada AI announced multiple IDOs.
9. Hamster Kombat (HMSTR)
HMSTR on Binance Launchpool and Super Earn!
#BinanceLaunchpoolHMSTR #OSMOS/USDT #PolygonLabs #BinanceLabs