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Whales are buying Bitcoin. During this process, they are shaking out weak hands, scaring everyone just like in recent days, and taking #Bitcoin from them. Hold on until the end. Trust the cycle.

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#Binance200M The Binance (BNB) ecosystem has continued to grow against all odds fueled by heightened regulatory scrutiny in major jurisdictions led by the United States. After re-entering the Indian market following improved regulatory reforms, the Binance cryptocurrency exchange announced that it has reached 200 million globally registered users. Consequently, the Binance ecosystem continues to stamp its web3 dominance, more so outside Western countries. BNB Bulls Summoned Amid Bearish Sentiments As Bitcoin price continues to struggle to rally above $72k, on-chain data shows heightened crypto cash rotation to the altcoin industry. Furthermore, the approval of spot Ether ETFs in Hong Kong and the United States is a clear indication of heightened demand from institutional investors. Binance native coin, BNB, price pumped over 200 percent since the beginning of the year to retest its all-time high (ATH) of around $700. However, the large cap-altcoin, with a fully diluted valuation of about $99 billion and a daily average traded volume of around $1.4 billion, has dropped 8 percent to hover around $643 on Monday.

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#TopCoinsJune2024 Ethereum has seen a 3% rise in addresses holding more than 10,000 ETH over the last three weeks, indicating increased buying pressure. Ethereum’s current price stabilizes around $3,700 and could aim for $4,000 if it stays above $3,650. According to on-chain data, the community has growing enthusiasm following the SEC’s approval of Ethereum ETFs, and social sentiment stabilizes before trading begins. Analyst Caled Frazen notes that Ethereum’s current price patterns mirror those seen before an 83% rally in 2021. Although there is a modest decline in open interest, this trend may suggest a bullish recovery.

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#TopCoinsJune2024 If the Fed successfully lowers inflation and upcoming data remains stable, rapid market increases could be observed. The market, having priced in almost the worst-case scenario, might now begin to see a more optimistic future. Recent data from Farside Investors highlights an influx of $1.7 billion into BTC ETFs over five business days, bringing spot Bitcoin ETF entries to $15.5 billion since launch—surpassing the previous record of $12.7 billion. QCP Capital notes Bitcoin and Ether may have reached local lows, suggesting potential benefits for risk assets from future Fed actions. This underscores the critical importance of the Fed’s forthcoming meeting and economic data releases for the cryptocurrency market.

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#Binance55thProject(IO) Binance Coin [BNB] and Tron [TRX] have both faced multiple challenges in the crypto space for quite some time. Despite the challenges, the overall interest in both BNB and TRON remained consistent. Tron and Binance remain on top Due to the consistent interest in these networks, they outperformed all other protocols in terms of activity. According to recent data, Tron kept its top position in terms of daily active users. At the time of writing, the Tron network had over 2.1 million users. BNB came in third, with the number of active users on the network at 1.08 million.

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Ultimele știri

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European Central Bank Expected To Cut Interest Rates Further In 2024

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Traders Increase Rate Cut Bets For 2024

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Dollar Index Drops After Non-Farm Payroll Data Release

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