🔽 LayerZero - everything Another end game is happening bef | TopCryptoNews on Binance Square

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🔽 LayerZero - everything

Another end game is happening before our eyes.
📉 Daily activity on LayerZero is down about 97% from its peak.

Will you continue to use L0?🤨
$ZRO #ZRO #LayerZero 

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📌 Altcoin crisis. According to Bloomberg, due to major unlocks, sales by early investors are hampering the growth of altcoins. It is noted that since the price of Bitcoin peaked in March, the market capitalization of altcoins, excluding Ether, has fallen by almost 30%.📉 This is because most market participants are counting more on short-term gains than long-term profits from unlocked altcoins. #Altcoin #altsesaon #Altcoins

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💸 Innovation Over Speculation: Justin Sun’s Roadmap for Crypto’s Future TRON founder Justin Sun recently urged the crypto community on X (formerly Twitter) to prioritize innovation and long-term progress over short-term price fluctuations in the volatile cryptocurrency market. 💬 Let's stay focused on innovation and progress—ignore the price fluctuations and continue to build for the future! Remember, the price will ultimately reflect the value we create through our efforts. — H.E. Justin Sun @Justin Sun孙宇晨 Sun asserts that innovation and progress should be the primary focus for anyone involved in the cryptocurrency and blockchain space. He believes that continuous development and advancements in technology and services are essential for the long-term success of the industry. By prioritizing these aspects, individuals and organizations can create valuable and sustainable solutions. Sun’s advice to disregard price fluctuations serves as a reminder that market volatility is a natural part of the cryptocurrency landscape. He advocates for remaining focused on long-term goals despite temporary price movements, a view reflecting a mindset that values stability and perseverance in advancing the blockchain industry. Additionally, Sun’s message focuses on building for the future. He encourages a long-term perspective, where current efforts and investments are directed towards future benefits. This aligns with the broader goal of creating a robust and resilient blockchain infrastructure. Furthermore, Sun’s tweet highlights the concept of value creation. He implies that the true value of innovations and developments will eventually be recognized by the market, emphasizing the importance of tangible impact and utility in the technology being developed. Sun’s message underscores the sustainable impact innovation can bring into the crypto space, emphasizing that while market volatility may dominate headlines, true progress lies in developing technology that addresses real-world needs and ultimately delivers lasting value. #JustinSun #TRX #TRON

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🚀 Solana Price Analysis as SOL Dips Below 45-Day Low, Analyst Predicts Surge to $1,000 As the price of Solana’s native SOL token keeps dropping from a 45-day low, a cryptocurrency analyst has recently predicted that despite a current bearish trend the smart contract platform’s native token will move to surpass the $1,000 mark in the future. Solana is at the time of writing trading at $128 after losing around 15% of its value over the past week amid a wider cryptocurrency market downturn, with technical analysis of the cryptocurrency’s yearly price chart showing that its 50-simple moving average is currently at around $149, while the 200 SMA is at $100.9. The cryptocurrency’s price is below its 50 SMA but above the 200 SMA which shows a short-term bearish sentiment within a long-term bullish trend if the price remains above the 200 SMA. SOL’s Relative Strength Index (RSI) meanwhile sits at 32, considered to be oversold territory, and has been trending downward as bearish momentum grows. Meanwhile the Moving Average Convergence Divergence (MACD) indicator’s line crossed below its signal line, another bearish signal. The MACD’s histogram suggests there’s ongoing bearish momentum for Solana as it moves to test its support level near the 200 SMA. Another support level is at around $122, its recent low from which the price bounced back from. Solana’s price faces resistance at around the 50 SMA, or $149, and a break above this level could see Solana resume its bullish trend. 🔸 Solana’s ‘$1,000 Roadmap’ On social media a pseudonymous cryptocurrency analyst, Crypto Patel, showed a long-germ SOL price chart suggesting it could move to the $1,000 mark. The chart shows the formation of a giant cup and handle pattern. 💬 #SOLANA $1000 Roadmap $SOL — Crypto Patel A cup and handle pattern occurs when the price of a security trends downward and recovers to form a “u” shape, before seeing another slight downward drift that forms the handle. It’s widely considered a bullish signal.

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🇭🇰 Hong Kong, which introduced Bitcoin and Ethereum ETFs in April, has carried out another study on the crypto sector! Johnny Ng, a member of the Hong Kong Legislative Council, announced the establishment of a new subcommittee focusing on Web3 and virtual asset development. 🔸 Hong Kong Parliament Establishes Crypto Legislative Subcommittee Ng announced that his office is actively collecting policy feedback from the global Web3 industry. The aim is to gather insights, offer policy recommendations, and discuss the future direction of the crypto industry in Hong Kong. Ng, who chairs the new subcommittee, highlighted several key focus areas. These include increasing protection for crypto investors, ensuring financial stability without hindering stablecoin innovation, and exploring regulatory measures for professional crypto custody services. Additionally, Ng's office is seeking policy recommendations for the integrated development of artificial intelligence and Web3, as well as regulatory proposals for decentralized autonomous organizations (DAOs). The move marks a significant step in Hong Kong's approach to cryptocurrency and stands in sharp contrast to broader crackdowns on crypto trading and mining seen in mainland China. Last year, Hong Kong began welcoming crypto firms and introduced a licensing regime for crypto trading platforms in June 2023. This regime signals a more open stance towards digital assets by allowing licensed exchanges to offer retail trading services. In April, Hong Kong introduced spot Bitcoin and Ethereum exchange-traded funds (ETFs). Discussions are ongoing about potentially including staking in spot ether ETFs, a move that could provide a competitive advantage. “As far as how quickly it will happen, there is an optimistic part of me that wants it to happen within the year,” said Animoca Brands Chairman Yat Siu. Hong Kong Securities and Futures Commission Chairman Julia Leung also expressed her support for Bitcoin, noting its enduring power as an alternative asset. #BTC #ETH #ETF #HongKong

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📈 LUNC Price Soars 9% After Delisting By BtcTurk, Here’s Why The Terra Luna Classic (LUNC) price appreciated by 9% after being delisted by a Turkish cryptocurrency exchange BtcTurk. The exchange delisted LUNC after a hack that saw about 434 billion tokens lost in the process. This event has led to many questions being asked, particularly on the fate of these tokens and their effects on the Terra Classic ecosystem. 🔸 BtcTurk Delists LUNC Amidst Hack Allegations LUNC has been delisted by BtcTurk, a Turkish cryptocurrency exchange, after a major security breach. The hack affected 10 of the exchange’s hot wallets and led to the removal of 434 billion LUNC tokens. Even though specifics of the hack are still unknown to the public, BtcTurk explained to its users that most of the assets kept in the cold wallets were not impacted. Nevertheless, BtcTurk assured that user assets are safe and will not be affected by the incident since it is financially sound. The exchange also suspended all cryptocurrency transactions as a result of the incident. Besides the LUNC tokens, about 1.96 billion Avalanche (AVAX) tokens were also lost in the hack. The fate of the stolen LUNC tokens is still unknown. In the past, such cases have resulted in the freezing of assets for an extended period. For instance, the funds stolen in the Terraport hack have remained unrecovered, or blacklisted, suggesting that they might as well have been “burned” and are therefore useless. 🔸 Binance’s Role and Terra Classic Community Actions Binance has been quite engaged in the management of the aftermath of the BtcTurk hack. The exchange has already blocked over $5.3 million in stolen funds that were withdrawn through its platform. At the same time, the Terra Classic community is still working on decreasing the #LUNC and USTC token circulation. Recently more than 6.5 billion LUNC tokens were burned which affected the total and circulating supply greatly. This burn plan, as stated by TFL CEO Chris Amani, entails burning tokens in the TFL and LFG wallets.

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