When we look at it, Binance spot sales pressure continues to be met by longing with Binance derivatives, but the amount of shorts has started to increase in the last 3-5 hours.
Compared to the weekend, the volume is slightly higher, and preparations are being made, especially from derivatives.
Under normal circumstances, it is not a situation we would like to long from derivatives and sell from spot. It gives the impression that they are increasing from derivatives and unloading goods from spot.
However, we do not know how far they will take it with derivatives, so I attach importance to short liquidations at 62,500 and 63,900 levels.
🚨 Major Legal Victory for Binance: Court Rejects SEC's Claim on BNB Tokens
In a significant development, a federal court has ruled against the SEC's assertion that BNB tokens constitute "investment contracts" and thus should be classified as securities. The court's decision marks a pivotal moment in the ongoing legal battles between the SEC and the cryptocurrency industry, particularly for Binance, which has faced multiple allegations from the regulatory body.
This ruling not only impacts Binance but also sets a precedent for other cryptocurrency projects facing similar claims from the SEC. The court's rejection of the SEC's argument emphasizes the need for clear and consistent regulatory frameworks for digital assets.
🚨 Floki Inu Announces 2024 Roadmap with Major Utility Upgrades
Floki Inu (FLOKI), the popular memecoin, has unveiled its ambitious 2024 roadmap, focusing on significant utility enhancements and new features.
Key initiatives include:
Regulated Digital Banking Accounts: Floki Inu plans to introduce digital banking accounts, allowing users to create and fund accounts using FLOKI tokens. This move aims to provide seamless integration with traditional banking systems.
Floki Debit Cards: The introduction of Floki debit cards will enable users to connect their digital bank accounts with the cards, facilitating transactions in major currencies like the euro and USD.
Partnerships and Integration: The roadmap includes integration with the Venus DeFi protocol, listing FLOKI on the Venus Core Pool to enhance liquidity and leveraging tokens as collateral for borrowing assets.
Valhalla Metaverse Game: The upcoming release of Valhalla on the mainnet will feature on-chain gaming, pay-to-earn systems, and customizable NFTs in an expansive open-world environment.
Cross-Chain Trading Bot: Launching a trading bot on Telegram and Discord, driven by FLOKI tokens, to enable cross-blockchain trading. Part of the fees generated will be used to buy and burn FLOKI tokens.
Floki Inu's focus on expanding its utility and enhancing user experience signals a significant shift from its memecoin origins towards a more comprehensive crypto ecosystem.
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Grayscale, the world's largest digital asset management company, published a report commenting on the current situation in the cryptocurrency world. Stating that in the analysis, it expects 18 coins, in addition to Bitcoin and Ether, to come to the fore in the 3rd quarter of 2024, the company expects the rise in artificial intelligence coins to continue.
Part of the U.S. Securities and Exchange Commission (SEC) lawsuit against cryptocurrency exchange Binance and its founder Changpeng Zhao (CZ) was dismissed by a federal judge, but other charges, particularly those against the holding company of Binance.US, were allowed to proceed. was given.
Ripple will release 1 billion tokens on July 1, worth approximately $470 million. This transaction, which is part of Ripple's monthly sales, could affect the XRP price in the coming weeks.