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#2024WithBinance Binance has confirmed its involvement in the upcoming Wise Monkey (MONKY) airdrop, which will distribute rewards to holders of FLOKI and ApeCoin (APE) tokens. This announcement comes as part of a broader trend of increased collaboration between major cryptocurrency exchanges and token ecosystems. It reflects the ongoing interest in incentivizing user engagement through airdrops. The FLOKI airdrop is set to begin on December 15, 2024, and will allocate 2.7 trillion MONKY tokens to users who hold FLOKI on Binance. Binance sets the distribution rate at 0.35 MONKY per FLOKI token, directing portions to on-chain users, Floki Trading Bot participants, and holders of select tokens within the FLOKI ecosystem. Meanwhile, the airdrop for ApeCoin holders has already started, distributing 804,828 MONKY tokens. ApeCoin’s airdrop includes users who have supported Ape Accelerator or attended ApeFest, a significant event within the ApeCoin community. A total of 800 billion MONKY tokens will be allocated to APE holders. It underscores the importance of these communities in the broader ecosystem. Details On Airdrop In both cases, users must hold a minimum of 1 FLOKI or 1 APE token to qualify for the airdrop. Balances in trade orders or pending transfers do not count. The FLOKI snapshot will occur on December 15, while the snapshot for APE holders has already taken place. Binance has stipulated that participants need to have completed KYC verification and be from eligible jurisdictions to qualify. The airdrop will occur exclusively on the BNB chain, including FLOKI holders across both BNB and ETH chains. Binance will handle the technical aspects, but it won’t guarantee a MONKY token listing after the distribution, as it must pass the standard review process.
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$ETH Danger on Ethereum's radar The bearish double-top pattern, which could indicate a reversal in Ethereum's recent bullish momentum, is just beginning to form on the cryptocurrency. ETH broke through important resistance levels following a powerful rally, but this pattern raises questions about a possible retracement that might impede its price recovery. A substantial price decline is frequently preceded by the double-top pattern, which usually signals a loss of buying momentum. Ethereum has produced two peaks on the daily chart but has been unable to break through the $3,400 barrier. The probability of ETH declining rises if it is unable to hold onto its present values. This worry is heightened by the fact that trading volume has begun to drop, indicating a decrease in market fervor. As the bullish momentum slows, the RSI, which is currently trending lower from the overbought area, lends credence to the idea that a correction may be imminent. At $3,400, Ethereum is encountering significant opposition. If this level is broken, the double-top would be deemed invalid and additional gains toward $3,600 or higher might be possible. However, the 50 EMA acts as a buffer at $2,980, which is the immediate support level on the downside. A decline below this level might lead to a more severe correction, which might drive ETH closer to the stronger support levels of $2,800 or even $2,750. The recovery that Ethereum has made over the past month could be undermined if the double-top formation materializes and causes a large retracement.
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#ETHOnTheRise #ETHOnTheRise Open in App ##ETHOnTheRise Ethereum hits resistance By breaking above the $3,575 resistance level, which has been a crucial barrier in recent months, Ethereum (ETH) has accomplished an important milestone. Because it represented the neckline of the previous double-top formation, a bearish chart pattern that could have precipitated a significant correction, this price point was crucial. Beyond merely being a technical move, the breakout above $3,575 signifies a change in the mood of the market. This level has historically served as a technical and psychological barrier, and prior attempts to breach it were met with intense selling pressure. Ethereum has disproven the double-top pattern's bearish connotations by crossing this barrier, paving the way for additional upward momentum. Ethereum has shown strong bullish signals on the chart. Long-term buying pressure is indicated by the rising moving averages, especially the 50-day and 100-day EMAs. The Relative Strength Index (RSI) is also still in bullish territory, indicating that more upside is possible before the asset is overbought. The next significant resistance level for Ethereum is between $3,800 and $4,000, if it can hold above $3,575. If ETH passes this test and consolidates above these levels, it may rise back to its prior all-time highs and spark a new market rally. But traders need to be careful. If $3,575 is not maintained, the market may retest the $3,100 or even $2,850 support levels. It will be crucial to monitor volume trends because declining momentum could be a sign of buyers' lack of commitment. Toncoin explodes With a remarkable 19% gain in just one week, Toncoin has recently exploded on the cryptocurrency market. Given its prior inability to profit from the larger bull market this performance is noteworthy. TON is currently trading at $6.28, making it the best-performing cryptocurrency out of the top 15.
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