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🚨 5 Critical Warnings from Binance Founder Changpeng Zhao Amid Crypto Market Surge 🚨
As Bitcoin hits new all-time highs 📈, Binance founder and ex-CEO Changpeng Zhao shares important tips for investors in this volatile market 🌐.
🔄 Zhao revisits his 2021 advice: "If you can't hold it, you can't get rich" 💰, underscoring the need for long-term focus and risk management 📊. With Bitcoin topping $77,000 and altcoins like ETH, SOL, and ADA on the rise 🚀, he urges caution:
1️⃣ Expect Volatility 🌪️: Crypto markets are unpredictable. Prepare for gains and losses 📉📈.
2️⃣ Manage Risk ⚖️: Only invest what you can afford to lose. Diversify your portfolio 📂.
3️⃣ Control Greed 🧘: Stay level-headed, especially during big swings 🎢.
4️⃣ Move Carefully 🐢: Avoid impulsive decisions. Time in the market often outperforms timing the market ⏳.
5️⃣ Focus on Long-Term Growth 🌱: Zhao hints, "This is just the beginning" 🚀.
As the crypto market cap hovers around $2.6 trillion 💵, Zhao's reminders encourage a steady, disciplined approach in the midst of the excitement 🛡️.
#Binance #ChangpengZhao #CryptoMarket #BTC #LongTerm
As Bitcoin hits new all-time highs 📈, Binance founder and ex-CEO Changpeng Zhao shares important tips for investors in this volatile market 🌐.
🔄 Zhao revisits his 2021 advice: "If you can't hold it, you can't get rich" 💰, underscoring the need for long-term focus and risk management 📊. With Bitcoin topping $77,000 and altcoins like ETH, SOL, and ADA on the rise 🚀, he urges caution:
1️⃣ Expect Volatility 🌪️: Crypto markets are unpredictable. Prepare for gains and losses 📉📈.
2️⃣ Manage Risk ⚖️: Only invest what you can afford to lose. Diversify your portfolio 📂.
3️⃣ Control Greed 🧘: Stay level-headed, especially during big swings 🎢.
4️⃣ Move Carefully 🐢: Avoid impulsive decisions. Time in the market often outperforms timing the market ⏳.
5️⃣ Focus on Long-Term Growth 🌱: Zhao hints, "This is just the beginning" 🚀.
As the crypto market cap hovers around $2.6 trillion 💵, Zhao's reminders encourage a steady, disciplined approach in the midst of the excitement 🛡️.
#Binance #ChangpengZhao #CryptoMarket #BTC #LongTerm
🚨🚨5 Critical Warnings from Binance Founder Changpeng Zhao Amid Crypto Market Surge 🚨 🚨
As Bitcoin surges past new all-time highs, with the price hitting a staggering $77,000 and altcoins like Ethereum (ETH), Solana (SOL), and Cardano (ADA) following suit, the crypto market is once again in a state of frenzy. While investors celebrate the bullish run, Binance founder and former CEO Changpeng Zhao, known as CZ, is raising crucial alarms.
In a recent statement, Zhao revisited his famous 2021 advice: “If you can’t hold it, you can’t get rich.” The message is clear—investors must exercise caution, control their emotions, and take a long-term view of their portfolios. As the crypto market soars to a total market cap of $2.6 trillion, Zhao’s words serve as a critical reminder that the road to crypto riches is paved with volatility and risks. Here's what every investor needs to keep in mind:
---
1. Expect Volatility: Crypto Markets Are Unpredictable
The crypto space is notorious for its wild price swings. While Bitcoin’s ascent to $77,000 has brought waves of euphoria, it’s equally possible for prices to crash in a flash. Zhao warns that volatility is part of the game, and investors must be prepared for both explosive gains and steep losses. The key is to stay calm, especially when the market takes an unexpected turn. If you're not ready for the ride, then this market may not be for you.
2. Manage Risk: Don’t Bet More Than You Can Afford to Lose
Crypto may be the most exciting asset class of the decade, but it’s also one of the riskiest. Zhao urges investors to approach the market with caution, stressing that no one should invest more than they can afford to lose. It's easy to get swept up in the hype, but responsible investing means maintaining a diversified portfolio and not putting your entire financial future on the line. Risk management is key to surviving long-term.
3. Control Greed: Stay Grounded During the Highs
Crypto bull runs can be intoxicating. As altcoins like Ethereum and Solana skyrocket, it’s easy to be lured by the temptation of fast profits. Zhao reminds investors to check their greed at the door. Emotional decisions during times of market euphoria can lead to disastrous losses. Don’t let greed cloud your judgment; stay disciplined and stick to your plan.
4. Move Carefully: Impulsive Decisions Can Lead to Regret
The temptation to "time the market" can be overwhelming, especially when prices are soaring. However, Zhao advises against chasing the next big spike or making impulsive moves. Successful crypto investing isn’t about perfect timing; it’s about the time you spend in the market. Patience and careful decision-making will outperform trying to predict every short-term shift.
5. Focus on Long-Term Growth: This is Just the Beginning
Despite the current market boom, Zhao remains bullish on the long-term potential of cryptocurrency. “This is just the beginning,” he hints, suggesting that the future of digital assets holds even greater promise. Crypto investors should focus on long-term growth rather than quick wins. Hold your assets with a vision for the future and not just for today’s profit.
---
Conclusion: Discipline Over Hype
With the crypto market reaching new heights, the excitement is palpable. But amid the rush to make profits, Changpeng Zhao’s warnings offer a sobering reality check. The crypto world is a volatile, high-risk environment, and those who fail to heed the lessons of patience, risk management, and emotional control may find themselves on the wrong side of the market.
Zhao's advice is a call for a disciplined approach, even in the face of overwhelming euphoria. As the market continues to evolve and expand, the true winners will be those who remain focused on long-term growth and manage their investments wisely.
Remember: If you can’t hold it, you can’t get rich.
So, buckle up, stay grounded, and be prepared for the ride ahead. The future of crypto is still unfolding, and those who navigate it carefully may stand to reap its greatest rewards.
#Binance #ChangpengZhao #CryptoMarket #BTC☀ #LongTerm
In a recent statement, Zhao revisited his famous 2021 advice: “If you can’t hold it, you can’t get rich.” The message is clear—investors must exercise caution, control their emotions, and take a long-term view of their portfolios. As the crypto market soars to a total market cap of $2.6 trillion, Zhao’s words serve as a critical reminder that the road to crypto riches is paved with volatility and risks. Here's what every investor needs to keep in mind:
---
1. Expect Volatility: Crypto Markets Are Unpredictable
The crypto space is notorious for its wild price swings. While Bitcoin’s ascent to $77,000 has brought waves of euphoria, it’s equally possible for prices to crash in a flash. Zhao warns that volatility is part of the game, and investors must be prepared for both explosive gains and steep losses. The key is to stay calm, especially when the market takes an unexpected turn. If you're not ready for the ride, then this market may not be for you.
2. Manage Risk: Don’t Bet More Than You Can Afford to Lose
Crypto may be the most exciting asset class of the decade, but it’s also one of the riskiest. Zhao urges investors to approach the market with caution, stressing that no one should invest more than they can afford to lose. It's easy to get swept up in the hype, but responsible investing means maintaining a diversified portfolio and not putting your entire financial future on the line. Risk management is key to surviving long-term.
3. Control Greed: Stay Grounded During the Highs
Crypto bull runs can be intoxicating. As altcoins like Ethereum and Solana skyrocket, it’s easy to be lured by the temptation of fast profits. Zhao reminds investors to check their greed at the door. Emotional decisions during times of market euphoria can lead to disastrous losses. Don’t let greed cloud your judgment; stay disciplined and stick to your plan.
4. Move Carefully: Impulsive Decisions Can Lead to Regret
The temptation to "time the market" can be overwhelming, especially when prices are soaring. However, Zhao advises against chasing the next big spike or making impulsive moves. Successful crypto investing isn’t about perfect timing; it’s about the time you spend in the market. Patience and careful decision-making will outperform trying to predict every short-term shift.
5. Focus on Long-Term Growth: This is Just the Beginning
Despite the current market boom, Zhao remains bullish on the long-term potential of cryptocurrency. “This is just the beginning,” he hints, suggesting that the future of digital assets holds even greater promise. Crypto investors should focus on long-term growth rather than quick wins. Hold your assets with a vision for the future and not just for today’s profit.
---
Conclusion: Discipline Over Hype
With the crypto market reaching new heights, the excitement is palpable. But amid the rush to make profits, Changpeng Zhao’s warnings offer a sobering reality check. The crypto world is a volatile, high-risk environment, and those who fail to heed the lessons of patience, risk management, and emotional control may find themselves on the wrong side of the market.
Zhao's advice is a call for a disciplined approach, even in the face of overwhelming euphoria. As the market continues to evolve and expand, the true winners will be those who remain focused on long-term growth and manage their investments wisely.
Remember: If you can’t hold it, you can’t get rich.
So, buckle up, stay grounded, and be prepared for the ride ahead. The future of crypto is still unfolding, and those who navigate it carefully may stand to reap its greatest rewards.
#Binance #ChangpengZhao #CryptoMarket #BTC☀ #LongTerm
🚨 5 Critical Warnings from Binance Founder Changpeng Zhao Amid Crypto Market Surge 🚨
As Bitcoin reaches new all-time highs, Binance founder and former CEO Changpeng Zhao has issued essential reminders for investors navigating this volatile market.
Zhao revisited his 2021 advice: "If you can't hold it, you can't get rich," highlighting the importance of long-term investment and risk management. With Bitcoin surpassing $77,000 and altcoins like ETH, SOL, and ADA surging, Zhao advises caution:
1. Expect Volatility: Crypto markets are highly unpredictable. Prepare for both gains and losses.
2. Manage Risk: Don’t invest more than you can afford to lose. Keep a diversified portfolio.
3. Control Greed: Be mindful of emotions, especially during high swings.
4. Move Carefully: Avoid impulsive decisions. Time in the market often beats timing the market.
5. Focus on Long-Term Growth: Zhao hinted, "This is just the beginning."
As the total crypto market cap holds around $2.6 trillion, Zhao's reminders encourage a disciplined approach amid the excitement.
#Binance #ChangpengZhao #CryptoMarket #BTC #LongTerm
As Bitcoin reaches new all-time highs, Binance founder and former CEO Changpeng Zhao has issued essential reminders for investors navigating this volatile market.
Zhao revisited his 2021 advice: "If you can't hold it, you can't get rich," highlighting the importance of long-term investment and risk management. With Bitcoin surpassing $77,000 and altcoins like ETH, SOL, and ADA surging, Zhao advises caution:
1. Expect Volatility: Crypto markets are highly unpredictable. Prepare for both gains and losses.
2. Manage Risk: Don’t invest more than you can afford to lose. Keep a diversified portfolio.
3. Control Greed: Be mindful of emotions, especially during high swings.
4. Move Carefully: Avoid impulsive decisions. Time in the market often beats timing the market.
5. Focus on Long-Term Growth: Zhao hinted, "This is just the beginning."
As the total crypto market cap holds around $2.6 trillion, Zhao's reminders encourage a disciplined approach amid the excitement.
#Binance #ChangpengZhao #CryptoMarket #BTC #LongTerm
🚨🚨 Changpeng Zhao’s Timeless Crypto Wisdom: 5 Golden Rules for the Bull Run 🏆
As Bitcoin and major cryptocurrencies soar, hitting new all-time highs, Binance founder and crypto legend Changpeng Zhao (CZ) has reminded us of a powerful mantra for every investor:
💬 "If you can't hold it, you can't get rich."
His message, originally shared in 2021, resonates even louder today as crypto prices rise to dizzying levels. Here are CZ's 5 powerful reminders for anyone diving into the crypto space right now:
1. Risk Management is Key 🌐: As $BTC and others surge, remember that highs are followed by lows. Manage your risks wisely—don’t go all in!
2. Prepare for Volatility 🔄: In crypto, the path to profit is a wild ride. Hold tight through the ups and downs, because the journey will test your patience.
3. Control Your Greed 💰: Don’t let FOMO (Fear of Missing Out) cloud your judgment. Rushing in often leads to regrets.
4. Diversify 🎯: As CZ says, “Don’t put all your eggs in one basket.” Spread your investments and hedge your bets for long-term success.
5. Take It Slow and Steady 🐢: This is just the beginning. Move carefully, learn constantly, and don’t let the excitement override good decision-making.
The markets are buzzing:
🪙 Bitcoin just shattered records, reaching $77,000
🚀 ETH is eyeing $3,000, SOL has surged past $200, and ADA is climbing strong!
💹 Total crypto market value is hovering at a monumental $2.6 trillion.
So as we celebrate these highs, let’s remember CZ’s wise words and stay grounded. The crypto journey is long—make sure you’re ready for every twist and turn!
#Binance #ChangpengZhao #bitcoin☀️ #cryptojourney #Write2Earn!
$ETH
$SOL
As Bitcoin and major cryptocurrencies soar, hitting new all-time highs, Binance founder and crypto legend Changpeng Zhao (CZ) has reminded us of a powerful mantra for every investor:
💬 "If you can't hold it, you can't get rich."
His message, originally shared in 2021, resonates even louder today as crypto prices rise to dizzying levels. Here are CZ's 5 powerful reminders for anyone diving into the crypto space right now:
1. Risk Management is Key 🌐: As $BTC and others surge, remember that highs are followed by lows. Manage your risks wisely—don’t go all in!
2. Prepare for Volatility 🔄: In crypto, the path to profit is a wild ride. Hold tight through the ups and downs, because the journey will test your patience.
3. Control Your Greed 💰: Don’t let FOMO (Fear of Missing Out) cloud your judgment. Rushing in often leads to regrets.
4. Diversify 🎯: As CZ says, “Don’t put all your eggs in one basket.” Spread your investments and hedge your bets for long-term success.
5. Take It Slow and Steady 🐢: This is just the beginning. Move carefully, learn constantly, and don’t let the excitement override good decision-making.
The markets are buzzing:
🪙 Bitcoin just shattered records, reaching $77,000
🚀 ETH is eyeing $3,000, SOL has surged past $200, and ADA is climbing strong!
💹 Total crypto market value is hovering at a monumental $2.6 trillion.
So as we celebrate these highs, let’s remember CZ’s wise words and stay grounded. The crypto journey is long—make sure you’re ready for every twist and turn!
#Binance #ChangpengZhao #bitcoin☀️ #cryptojourney #Write2Earn!
$ETH
$SOL
#Binance a major #cryptocurrency exchange, has converted some of its cash reserves into cryptocurrency, according to its CEO, #ChangpengZhao . This move is said to be a hedge against inflation and a way to invest in the industry they operate in.
🔥🔥🔥 #Binance and #SEC still in contentious battle, but there’s a turn
The ongoing legal battle between Binance and the United States Securities and Exchange Commission (SEC) has taken a dramatic turn, with court filings revealing intense disputes over evidence production and the deposition of key witnesses. At the heart of the matter is the SEC's claim that Binance, through its parent entity BAM Trading Services, has not fully disclosed essential documents, particularly regarding how Binance.US handles custody and liquidity of assets. Binance argues that it has complied with the consent order, while the SEC is accused of overreaching its investigative scope.
The clash extends to the depositions of former BAM executives, including CEO Brian Shroder and CFO Jasmine Lee. BAM contends that the SEC has already conducted a sufficient number of depositions, while the prospect of Binance co-founder #ChangpengZhao taking the stand adds complexity. Zhao, who stepped down as CEO and faces legal challenges, recently had a humanitarian leave request denied by the court due to concerns about his significant wealth and international connections.
This legal battle is more than a corporate dispute; it serves as a litmus test for cryptocurrency industry regulations. As each legal maneuver unfolds, it highlights the tension between innovation in the digital currency space and evolving regulatory frameworks. The outcome of this case may set precedents that reshape how cryptocurrency exchanges operate and how regulators oversee the market. The Binance-SEC saga is a pivotal moment in the ongoing narrative about the future of finance, striking a balance between freedom and regulation in the digital age. With Binance's fate and regulatory implications hanging in the balance, this legal epic is far from over, and its consequences will reverberate throughout the cryptocurrency world.
Source - cryptopolitan.com
#CryptoNews #BinanceSquare
The ongoing legal battle between Binance and the United States Securities and Exchange Commission (SEC) has taken a dramatic turn, with court filings revealing intense disputes over evidence production and the deposition of key witnesses. At the heart of the matter is the SEC's claim that Binance, through its parent entity BAM Trading Services, has not fully disclosed essential documents, particularly regarding how Binance.US handles custody and liquidity of assets. Binance argues that it has complied with the consent order, while the SEC is accused of overreaching its investigative scope.
The clash extends to the depositions of former BAM executives, including CEO Brian Shroder and CFO Jasmine Lee. BAM contends that the SEC has already conducted a sufficient number of depositions, while the prospect of Binance co-founder #ChangpengZhao taking the stand adds complexity. Zhao, who stepped down as CEO and faces legal challenges, recently had a humanitarian leave request denied by the court due to concerns about his significant wealth and international connections.
This legal battle is more than a corporate dispute; it serves as a litmus test for cryptocurrency industry regulations. As each legal maneuver unfolds, it highlights the tension between innovation in the digital currency space and evolving regulatory frameworks. The outcome of this case may set precedents that reshape how cryptocurrency exchanges operate and how regulators oversee the market. The Binance-SEC saga is a pivotal moment in the ongoing narrative about the future of finance, striking a balance between freedom and regulation in the digital age. With Binance's fate and regulatory implications hanging in the balance, this legal epic is far from over, and its consequences will reverberate throughout the cryptocurrency world.
Source - cryptopolitan.com
#CryptoNews #BinanceSquare
🚨 Major news for Binance! 🚨
The ousted CEO, Changpeng Zhao, and the exchange Binance face a staggering $2.7 billion penalty for money laundering charges imposed by a US court. The penalty includes a clawback of $1.35 billion for illegal transaction fees and a $1.35 billion fine. 😱
Even Zhao pays $150 million from his personal account to dodge legal troubles. 🤑⚖️ However, the financial hit isn't the only worry; Zhao might face up to 10 years in jail for alleged US regulation violations. 🛑🏛️
A travel ban is in place, fearing escape to his Dubai home. 🌍 Former SEC official John Reed Stark highlights the court's concerns about Zhao's flight risk. This legal battle, involving billions and potential imprisonment, marks a pivotal moment for Binance and its former leader, Zhao, whose future is on the line. ⚠️💰
#Binance #CryptoLegalBattle #ChangpengZhao #Crypto #CryptoNews🔒📰🚫
The ousted CEO, Changpeng Zhao, and the exchange Binance face a staggering $2.7 billion penalty for money laundering charges imposed by a US court. The penalty includes a clawback of $1.35 billion for illegal transaction fees and a $1.35 billion fine. 😱
Even Zhao pays $150 million from his personal account to dodge legal troubles. 🤑⚖️ However, the financial hit isn't the only worry; Zhao might face up to 10 years in jail for alleged US regulation violations. 🛑🏛️
A travel ban is in place, fearing escape to his Dubai home. 🌍 Former SEC official John Reed Stark highlights the court's concerns about Zhao's flight risk. This legal battle, involving billions and potential imprisonment, marks a pivotal moment for Binance and its former leader, Zhao, whose future is on the line. ⚠️💰
#Binance #CryptoLegalBattle #ChangpengZhao #Crypto #CryptoNews🔒📰🚫
#Binance #ChangpengZhao
Binance founder and former CEO Changpeng Zhao was sentenced to four months in prison Tuesday after he pleaded guilty last year to violating federal money laundering laws along with his company which also pleaded guilty to sanctions violations.
Seattle-based U.S. District Judge Richard Jones handed down Tuesday’s sentence, which was far below the three-year sentence prosecutors were seeking, according to multiple reports.
Binance founder and former CEO Changpeng Zhao was sentenced to four months in prison Tuesday after he pleaded guilty last year to violating federal money laundering laws along with his company which also pleaded guilty to sanctions violations.
Seattle-based U.S. District Judge Richard Jones handed down Tuesday’s sentence, which was far below the three-year sentence prosecutors were seeking, according to multiple reports.
📣📣📣 Binance and Kraken settle with US authorities over money laundering charges.😀😀😀
On November 21, 2023, Binance, the world's largest #cryptocurrency exchange, agreed to pay $4.3 billion to settle criminal charges with US authorities. The charges stem from a long-running investigation into Binance's alleged violations of anti-money laundering laws and sanctions regulations. As part of the settlement, Binance's founder and CEO, #ChangpengZhao , also known as CZ, has stepped down from his position.
In addition to Binance, the cryptocurrency exchange Kraken also settled with US authorities on November 21, 2023. Kraken agreed to pay $30 million to settle a civil lawsuit filed by the US Securities and Exchange Commission (SEC). The SEC alleged that Kraken had failed to properly register its staking services with the agency.
The settlements with Binance and Kraken are a sign that US authorities are taking a tougher stance on cryptocurrency regulation. In recent years, there have been growing concerns about the use of cryptocurrencies for money laundering and other illicit activities. The settlements are likely to have a significant impact on the cryptocurrency industry, and they could lead to further regulatory scrutiny of cryptocurrency exchanges.
Here is a summary of the key points from the settlements:
- Binance agreed to pay $4.3 billion to settle criminal charges with US authorities.
- Binance's founder and CEO, Changpeng Zhao, has stepped down from his position.
- Kraken agreed to pay $30 million to settle a civil lawsuit filed by the SEC.
- The settlements are a sign that US authorities are taking a tougher stance on cryptocurrency regulation.
#binancenews #BinanceSquareTalks #CryptoNews
On November 21, 2023, Binance, the world's largest #cryptocurrency exchange, agreed to pay $4.3 billion to settle criminal charges with US authorities. The charges stem from a long-running investigation into Binance's alleged violations of anti-money laundering laws and sanctions regulations. As part of the settlement, Binance's founder and CEO, #ChangpengZhao , also known as CZ, has stepped down from his position.
In addition to Binance, the cryptocurrency exchange Kraken also settled with US authorities on November 21, 2023. Kraken agreed to pay $30 million to settle a civil lawsuit filed by the US Securities and Exchange Commission (SEC). The SEC alleged that Kraken had failed to properly register its staking services with the agency.
The settlements with Binance and Kraken are a sign that US authorities are taking a tougher stance on cryptocurrency regulation. In recent years, there have been growing concerns about the use of cryptocurrencies for money laundering and other illicit activities. The settlements are likely to have a significant impact on the cryptocurrency industry, and they could lead to further regulatory scrutiny of cryptocurrency exchanges.
Here is a summary of the key points from the settlements:
- Binance agreed to pay $4.3 billion to settle criminal charges with US authorities.
- Binance's founder and CEO, Changpeng Zhao, has stepped down from his position.
- Kraken agreed to pay $30 million to settle a civil lawsuit filed by the SEC.
- The settlements are a sign that US authorities are taking a tougher stance on cryptocurrency regulation.
#binancenews #BinanceSquareTalks #CryptoNews
Trending
Very important statements from Binance CEO 'CZ'
Binance CEO #ChangpengZhao (CZ) has addressed claims that Binance significantly sold down #bitcoin (BTC) in reaction to growing rumours and accusations making the rounds in the cryptocurrency community. A price decline of 7% for Bitcoin has been attributed to these assertions.
CZ responded on Twitter by retweeting a thread from user ZkHopium, who presented a thorough analysis refuting the accusations and identifying the situation's core causes.
The ZkHopium thread clarifies the circumstances around the Venus Protocol liquidation of Binance Coin (BNB). It indicates that the exploit took place on the #Binance Smart Chain (BSC) on October 6th, 2022, producing 2 million BNB.
Of this sum, 900,000 #BNB were put on Venus Protocol to borrow USDT and USDC valued about $150 million. In retaliation, the BNB network destroyed more than 2 million BNB, which at the time was worth around $550 million, thereby eliminating these tokens from circulation.
Venus Protocol approved a governance proposal naming BNB Chain as the sole liquidator for the loan in order to speed up the liquidation procedure. The liquidator's wallet was then replenished by BNB Chain with 30 million BUSD in December 2022, 30 million USDT in June 2023, and 30 million USDT on August 21, 2023.
A collateral component or liquidation threshold is a part of the Venus Protocol's liquidation process. Liquidators can progressively liquidate up to 50% of the collateral when triggered, earning an extra 10% of the collateral's value in fees.
ZkHopium's study points up a number of important elements that distinguish this example from others. One liquidator in particular is not motivated to engage in market dumping, to start with. Second, no bots are used to front-run the liquidations; instead, they are carried out manually.
Moreover, considering the amount of the loan, the liquidation tranches are anticipated to be substantially lower than the 50% mark.
Regarding the claims, #CZ acknowledged ZkHopium's thorough investigation and stressed the "insignificance" of the effect a $30 million liquidation would have on the price of Bitcoin.
CZ said that the majority of incentives are given in BNB and that Binance does not issue BTC. Although $30 million represents less than 0.001% of Bitcoin's daily trading volume, he emphasised that the purported concern of a substantial influence on the price of BTC is incorrect.
The chart above shows that BNB is now trading at $217 at the time of writing. For the previous 24 hours, it has just slightly decreased by 0.2%.
Bitcoin Hovers Almost $26,000 Despite Slight Decline
By market capitalization, Bitcoin, the most valuable cryptocurrency, is presently valued at $26,000 and has declined by 2.4% since briefly reaching the $26,700 level.
Keith Alan, a co-founder of the research and analysis company Material Indicators, has made the following observations on the market scenario despite the present low levels of volatility:
The economic data that was provided this morning had little effect on volatility, but it will help shape the story that Jerome Powell will tell on Friday when he speaks at Jackson Hole.
The Jackson Hole Symposium is approaching, and interest in Federal Reserve Chairman Jerome Powell's remarks is growing. As a result, the Bitcoin market is starting to exhibit symptoms of heightened activity.
Keith Alan contends that while the economic data won't have an immediate impact on volatility, it will influence Powell's speech's narrative.
As the Bitcoin market gets closer to the weekend, this expectation will probably cause it to become more volatile. As Powell's speech progresses, traders and investors are preparing for any market swings in the anticipation that his remarks may have a substantial influence on the cryptocurrency market.
CZ responded on Twitter by retweeting a thread from user ZkHopium, who presented a thorough analysis refuting the accusations and identifying the situation's core causes.
The ZkHopium thread clarifies the circumstances around the Venus Protocol liquidation of Binance Coin (BNB). It indicates that the exploit took place on the #Binance Smart Chain (BSC) on October 6th, 2022, producing 2 million BNB.
Of this sum, 900,000 #BNB were put on Venus Protocol to borrow USDT and USDC valued about $150 million. In retaliation, the BNB network destroyed more than 2 million BNB, which at the time was worth around $550 million, thereby eliminating these tokens from circulation.
Venus Protocol approved a governance proposal naming BNB Chain as the sole liquidator for the loan in order to speed up the liquidation procedure. The liquidator's wallet was then replenished by BNB Chain with 30 million BUSD in December 2022, 30 million USDT in June 2023, and 30 million USDT on August 21, 2023.
A collateral component or liquidation threshold is a part of the Venus Protocol's liquidation process. Liquidators can progressively liquidate up to 50% of the collateral when triggered, earning an extra 10% of the collateral's value in fees.
ZkHopium's study points up a number of important elements that distinguish this example from others. One liquidator in particular is not motivated to engage in market dumping, to start with. Second, no bots are used to front-run the liquidations; instead, they are carried out manually.
Moreover, considering the amount of the loan, the liquidation tranches are anticipated to be substantially lower than the 50% mark.
Regarding the claims, #CZ acknowledged ZkHopium's thorough investigation and stressed the "insignificance" of the effect a $30 million liquidation would have on the price of Bitcoin.
CZ said that the majority of incentives are given in BNB and that Binance does not issue BTC. Although $30 million represents less than 0.001% of Bitcoin's daily trading volume, he emphasised that the purported concern of a substantial influence on the price of BTC is incorrect.
The chart above shows that BNB is now trading at $217 at the time of writing. For the previous 24 hours, it has just slightly decreased by 0.2%.
Bitcoin Hovers Almost $26,000 Despite Slight Decline
By market capitalization, Bitcoin, the most valuable cryptocurrency, is presently valued at $26,000 and has declined by 2.4% since briefly reaching the $26,700 level.
Keith Alan, a co-founder of the research and analysis company Material Indicators, has made the following observations on the market scenario despite the present low levels of volatility:
The economic data that was provided this morning had little effect on volatility, but it will help shape the story that Jerome Powell will tell on Friday when he speaks at Jackson Hole.
The Jackson Hole Symposium is approaching, and interest in Federal Reserve Chairman Jerome Powell's remarks is growing. As a result, the Bitcoin market is starting to exhibit symptoms of heightened activity.
Keith Alan contends that while the economic data won't have an immediate impact on volatility, it will influence Powell's speech's narrative.
As the Bitcoin market gets closer to the weekend, this expectation will probably cause it to become more volatile. As Powell's speech progresses, traders and investors are preparing for any market swings in the anticipation that his remarks may have a substantial influence on the cryptocurrency market.
🔥🔥🔥 Binance sees $956 million in outflows after Zhao steps down to settle #US probe.
Binance, the world's largest #cryptocurrency exchange, experienced significant outflows of funds following the news that its CEO, #ChangpengZhao , had stepped down and faced prison time as part of a settlement with US authorities over illicit finance allegations.
According to data from crypto analytics firm Nansen, investors withdrew a staggering $956 million from Binance in the 24 hours following Zhao's announcement. This substantial outflow highlights the uncertainty and apprehension among investors regarding Binance's future amidst the ongoing regulatory scrutiny and leadership changes.
The US Department of Justice (DOJ) had been investigating Binance since at least 2018 for its alleged involvement in money laundering and other illicit financial activities. As part of the settlement, Binance agreed to pay $4.3 billion to the DOJ and to implement stricter compliance measures.
Zhao's departure is a significant blow to Binance, as he was considered the driving force behind the exchange's meteoric rise to prominence. His exit has raised concerns about the company's ability to navigate the increasingly complex regulatory landscape and maintain its position as the industry leader.
The recent outflows also underscore the inherent volatility of the cryptocurrency market, where investor sentiment can be swayed by the slightest perceived risk. Binance's ability to regain investor confidence will depend on its ability to effectively address the regulatory concerns and demonstrate its commitment to compliance.
Only time will tell whether Binance can emerge unscathed from this latest challenge and reclaim its position as the dominant player in the cryptocurrency exchange landscape. However, the recent outflows serve as a stark reminder of the delicate balance between innovation and compliance in the ever-evolving world of crypto.
#CryptoNews🔒📰🚫 #BinanceSquareTalks
Binance, the world's largest #cryptocurrency exchange, experienced significant outflows of funds following the news that its CEO, #ChangpengZhao , had stepped down and faced prison time as part of a settlement with US authorities over illicit finance allegations.
According to data from crypto analytics firm Nansen, investors withdrew a staggering $956 million from Binance in the 24 hours following Zhao's announcement. This substantial outflow highlights the uncertainty and apprehension among investors regarding Binance's future amidst the ongoing regulatory scrutiny and leadership changes.
The US Department of Justice (DOJ) had been investigating Binance since at least 2018 for its alleged involvement in money laundering and other illicit financial activities. As part of the settlement, Binance agreed to pay $4.3 billion to the DOJ and to implement stricter compliance measures.
Zhao's departure is a significant blow to Binance, as he was considered the driving force behind the exchange's meteoric rise to prominence. His exit has raised concerns about the company's ability to navigate the increasingly complex regulatory landscape and maintain its position as the industry leader.
The recent outflows also underscore the inherent volatility of the cryptocurrency market, where investor sentiment can be swayed by the slightest perceived risk. Binance's ability to regain investor confidence will depend on its ability to effectively address the regulatory concerns and demonstrate its commitment to compliance.
Only time will tell whether Binance can emerge unscathed from this latest challenge and reclaim its position as the dominant player in the cryptocurrency exchange landscape. However, the recent outflows serve as a stark reminder of the delicate balance between innovation and compliance in the ever-evolving world of crypto.
#CryptoNews🔒📰🚫 #BinanceSquareTalks
👉👉👉 Embattled Binance Founder #ChangpengZhao Launches ‘Giggle Academy'
Changpeng "CZ" Zhao, the founder of #cryptocurrency exchange Binance, who stepped down as CEO in November following a settlement over federal money laundering charges, revealed plans on Monday to launch a new nonprofit online education platform called Giggle Academy.
In a tweet, Zhao expressed his vision for Giggle Academy, aiming to make basic education accessible and entertaining for children worldwide. He emphasized that the project would offer free, gamified, and adaptive education from grade 1 to 12. Zhao also announced that Project Giggle is hiring and highlighted the opportunity to work directly with him.
The announcement comes amidst Zhao's ongoing legal proceedings related to charges of failing to maintain an effective anti-money laundering program at Binance. Despite these challenges, Zhao remains enthusiastic about Giggle Academy, outlining an ambitious goal to provide free online education to underserved communities globally.
The concept paper for Giggle Academy underscores the importance of addressing global illiteracy rates, particularly in regions like South Asia, West Asia, and sub-Saharan Africa, where a significant portion of illiterate adults reside. The initiative aims to offer courses on core subjects and additional topics like emotional intelligence, finance, and blockchain.
Giggle Academy plans to leverage gamification to enhance student engagement and provide an adaptive curriculum to encourage subject specialization. Additionally, the platform will utilize #Blockchain -based "soul-bound tokens" to certify student achievements.
Zhao's educational initiative received mixed reactions in the crypto community, with some launching Solana memecoins inspired by the Giggle brand. He stressed the importance of accessible education and announced job openings for the Giggle Academy, including roles like Senior Game Developer and Gamification Product Manager.
Source - decrypt.co
#CryptoNews🔒📰🚫 #BinanceSquareTalks
Changpeng "CZ" Zhao, the founder of #cryptocurrency exchange Binance, who stepped down as CEO in November following a settlement over federal money laundering charges, revealed plans on Monday to launch a new nonprofit online education platform called Giggle Academy.
In a tweet, Zhao expressed his vision for Giggle Academy, aiming to make basic education accessible and entertaining for children worldwide. He emphasized that the project would offer free, gamified, and adaptive education from grade 1 to 12. Zhao also announced that Project Giggle is hiring and highlighted the opportunity to work directly with him.
The announcement comes amidst Zhao's ongoing legal proceedings related to charges of failing to maintain an effective anti-money laundering program at Binance. Despite these challenges, Zhao remains enthusiastic about Giggle Academy, outlining an ambitious goal to provide free online education to underserved communities globally.
The concept paper for Giggle Academy underscores the importance of addressing global illiteracy rates, particularly in regions like South Asia, West Asia, and sub-Saharan Africa, where a significant portion of illiterate adults reside. The initiative aims to offer courses on core subjects and additional topics like emotional intelligence, finance, and blockchain.
Giggle Academy plans to leverage gamification to enhance student engagement and provide an adaptive curriculum to encourage subject specialization. Additionally, the platform will utilize #Blockchain -based "soul-bound tokens" to certify student achievements.
Zhao's educational initiative received mixed reactions in the crypto community, with some launching Solana memecoins inspired by the Giggle brand. He stressed the importance of accessible education and announced job openings for the Giggle Academy, including roles like Senior Game Developer and Gamification Product Manager.
Source - decrypt.co
#CryptoNews🔒📰🚫 #BinanceSquareTalks
🇺🇸🏦 The federal court in Seattle cites former Binance CEO Changpeng Zhao's guilty plea for violating the Anti-Money Laundering Act, but it remains unclear if he will be allowed to leave the U.S. before his scheduled sentencing on February 23. Zhao previously admitted to charges of AML and sanctions violations, with Binance agreeing to pay a record $4.3 billion fine. As part of the agreement, Zhao is set to pay a $150 million fine and step down as Binance CEO. 🚫💼 #BinanceTrends #ChangpengZhao #AMLViolation
XRP Rides the Wave of Victory: Ripple Labs Triumphs in a Historic SEC Case
In an unexpected turn of events, #Ripple Labs Inc celebrated a ground-breaking victory against the U.S. Securities and Exchange Commission (SEC), marking a notable milestone for the crypto industry. The U.S. District Judge Analisa Torres ruled that Ripple's sale of its XRP tokens on public exchanges did not infringe federal securities law. Following the decision, the value of XRP rocketed by 75% on Thursday afternoon, according to data from Refinitiv Eikon.
This news couldn't have come at a better time for the crypto sector. The verdict brings hope to numerous other crypto firms battling with the SEC over the regulatory jurisdiction over their products.
Meanwhile, the announcement triggered the renowned U.S. crypto exchange, Coinbase, to reopen XRP trading on its platform. Paul Grewal, Coinbase's chief legal officer, commented on the case via Twitter, stating, "We’ve read Judge Torres’ thoughtful decision. We’ve carefully reviewed our analysis. It’s time to relist." This announcement influenced Coinbase stock to surge by 24%, closing at $107 per share on Thursday.
In light of this event, #ChangpengZhao , CEO of #Binance, took to Twitter to declare, "Binance never delisted XRP." Binance, the leading player in the crypto sphere, celebrated its 6th anniversary yesterday. CZ's announcement could serve as a regretful reminder for those exchanges that chose to delist XRP in the past due to Fear, Uncertainty, and Doubt (FUD). As these developments unravel, it's clear why Binance stands at the forefront of the industry - a result of their correct decisions, resilience against FUD, and relentless effort.
Brad Garlinghouse, the CEO of Ripple, hailed the ruling as not only a significant win for Ripple but a critical triumph for the entire U.S. cryptocurrency industry.
The SEC, on the other hand, was satisfied with a part of the ruling, stating that Ripple violated federal securities law by selling XRP directly to sophisticated investors. However, the decision to appeal the ruling will be considered once the final judgment is issued.
Ripple's #XRP sales were deemed not to constitute securities under the law as there was no reasonable expectation of profit tied to Ripple's efforts. This puts other digital currencies on notice and opens the door for further discussions on token regulation.
However, the SEC did manage to score a partial win as Judge Torres deemed that Ripple's sales of XRP worth $728.9 million to hedge funds and other sophisticated buyers were unregistered securities sales.
This landmark ruling could set the tone for other legal battles between crypto companies and the SEC. Furthermore, it raises new calls for Congress to clarify the status of digital assets, which the crypto industry has been long advocating for. As Tom Emmer, the House of Representatives Majority Whip, rightly pointed out on Twitter, "a token is separate and distinct from an investment contract it may or may not be part of," and it's high time to make it law.
The development surrounding the Ripple Labs case will undoubtedly influence the course of cryptocurrency regulation in the U.S. Despite the ongoing uncertainty, one thing is clear: this ruling and its implications will reverberate through the crypto industry for years to come.
Celebrate as we may, let's remember that the crypto landscape is far from static. In the meantime, eyes remain on Ripple, and indeed, the rest of the crypto industry, as we continue to navigate these uncharted waters.
This news couldn't have come at a better time for the crypto sector. The verdict brings hope to numerous other crypto firms battling with the SEC over the regulatory jurisdiction over their products.
Meanwhile, the announcement triggered the renowned U.S. crypto exchange, Coinbase, to reopen XRP trading on its platform. Paul Grewal, Coinbase's chief legal officer, commented on the case via Twitter, stating, "We’ve read Judge Torres’ thoughtful decision. We’ve carefully reviewed our analysis. It’s time to relist." This announcement influenced Coinbase stock to surge by 24%, closing at $107 per share on Thursday.
In light of this event, #ChangpengZhao , CEO of #Binance, took to Twitter to declare, "Binance never delisted XRP." Binance, the leading player in the crypto sphere, celebrated its 6th anniversary yesterday. CZ's announcement could serve as a regretful reminder for those exchanges that chose to delist XRP in the past due to Fear, Uncertainty, and Doubt (FUD). As these developments unravel, it's clear why Binance stands at the forefront of the industry - a result of their correct decisions, resilience against FUD, and relentless effort.
Brad Garlinghouse, the CEO of Ripple, hailed the ruling as not only a significant win for Ripple but a critical triumph for the entire U.S. cryptocurrency industry.
The SEC, on the other hand, was satisfied with a part of the ruling, stating that Ripple violated federal securities law by selling XRP directly to sophisticated investors. However, the decision to appeal the ruling will be considered once the final judgment is issued.
Ripple's #XRP sales were deemed not to constitute securities under the law as there was no reasonable expectation of profit tied to Ripple's efforts. This puts other digital currencies on notice and opens the door for further discussions on token regulation.
However, the SEC did manage to score a partial win as Judge Torres deemed that Ripple's sales of XRP worth $728.9 million to hedge funds and other sophisticated buyers were unregistered securities sales.
This landmark ruling could set the tone for other legal battles between crypto companies and the SEC. Furthermore, it raises new calls for Congress to clarify the status of digital assets, which the crypto industry has been long advocating for. As Tom Emmer, the House of Representatives Majority Whip, rightly pointed out on Twitter, "a token is separate and distinct from an investment contract it may or may not be part of," and it's high time to make it law.
The development surrounding the Ripple Labs case will undoubtedly influence the course of cryptocurrency regulation in the U.S. Despite the ongoing uncertainty, one thing is clear: this ruling and its implications will reverberate through the crypto industry for years to come.
Celebrate as we may, let's remember that the crypto landscape is far from static. In the meantime, eyes remain on Ripple, and indeed, the rest of the crypto industry, as we continue to navigate these uncharted waters.
Changpeng Zhao's Wealth Grows in Prison
Forbes: $25M/day, $61B net worth
Bloomberg: $30.8B net worth
Discrepancy due to asset valuations.
#ChangpengZhao #Binance #Wealth #Prison
Bloomberg: $30.8B net worth
Discrepancy due to asset valuations.
#ChangpengZhao #Binance #Wealth #Prison
🚨 Binance Founder CZ to Be Released Soon 🚨
Big news in the crypto world! Changpeng Zhao (CZ), the founder of Binance, is scheduled for release on September 29, 2024. His return is expected to shake things up for Binance and the broader crypto market. After legal challenges involving U.S. financial laws, CZ’s release could bring renewed confidence to Binance users and traders alike. Analysts predict that this could lead to higher trading volumes and a shift in Binance’s strategy. As Binance continues to face regulatory pressures, CZ’s leadership may be more crucial than ever!
#Binance #CZRelease #CryptoNews #ChangpengZhao #BinanceUpdate
Big news in the crypto world! Changpeng Zhao (CZ), the founder of Binance, is scheduled for release on September 29, 2024. His return is expected to shake things up for Binance and the broader crypto market. After legal challenges involving U.S. financial laws, CZ’s release could bring renewed confidence to Binance users and traders alike. Analysts predict that this could lead to higher trading volumes and a shift in Binance’s strategy. As Binance continues to face regulatory pressures, CZ’s leadership may be more crucial than ever!
#Binance #CZRelease #CryptoNews #ChangpengZhao #BinanceUpdate
🚨 Binance Founder Changpeng Zhao Surrenders to Low-Security Federal Prison in California
Changpeng Zhao, the founder of Binance, has surrendered to a low-security federal prison in Lompoc, California. This follows his sentencing to four months in prison for violating anti-money laundering laws. The decision is part of a broader legal settlement with U.S. authorities, which included significant fines for both Zhao and Binance. Stay tuned for more updates on this development.
#binance #ChangpengZhao #Crypto
Changpeng Zhao, the founder of Binance, has surrendered to a low-security federal prison in Lompoc, California. This follows his sentencing to four months in prison for violating anti-money laundering laws. The decision is part of a broader legal settlement with U.S. authorities, which included significant fines for both Zhao and Binance. Stay tuned for more updates on this development.
#binance #ChangpengZhao #Crypto
#ChangpengZhao could serve time in the same facility as ‘crypto-anarchist’ Jim Bell
A U.S. federal prisons expert has cautioned that the former CEO of Binance, if convicted and incarcerated, could be vulnerable to "theft and extortion" from fellow inmates.
Changpeng "CZ" Zhao, the ex-CEO, has petitioned a federal judge to consider probation following his guilty plea to money laundering charges. His legal team has presented multiple declarations in support of this request, including one proposing that he serve any potential sentence at the Federal Detention Center (FDC) SeaTac in Washington.
In a filing dated April 23 in the U.S. District Court for the Western District of Washington at Seattle, Robert Palmquist indicated it was highly likely that Zhao would be housed at FDC SeaTac if sentenced to prison. Palmquist, who served as warden at the facility from 2003 to 2009, described it as having minimal natural light and being understaffed given its inmate population.
Palmquist expressed concerns that Zhao's wealth and public status would make him a target for threats to his physical and mental well-being, including theft and extortion. He noted that Zhao's lack of experience with the prison system and financial resources could make him vulnerable to manipulation by other inmates.
FDC SeaTac, located just south of the Seattle-Tacoma International Airport and housing 794 inmates according to its website, has previously held individuals such as a Proud Boys member charged in connection with the Jan. 6, 2021, Capitol attack and Jim Bell, a 'crypto-anarchist' charged with tax evasion in the 1990s related to 'Assassination Politics': a concept promoting anonymous payments for individuals to order the killing of government officials.
Zhao's lawyers submitted letters from supporters in plea for leniency, as U.S. guidelines suggest a 12 to 18-month sentence for the charge. Prosecutors, however, seek a three-year prison term and a $50 million fine.
Source - cointelegraph.com
#CryptoNews🔒📰🚫 #BinanceSquareTalks
A U.S. federal prisons expert has cautioned that the former CEO of Binance, if convicted and incarcerated, could be vulnerable to "theft and extortion" from fellow inmates.
Changpeng "CZ" Zhao, the ex-CEO, has petitioned a federal judge to consider probation following his guilty plea to money laundering charges. His legal team has presented multiple declarations in support of this request, including one proposing that he serve any potential sentence at the Federal Detention Center (FDC) SeaTac in Washington.
In a filing dated April 23 in the U.S. District Court for the Western District of Washington at Seattle, Robert Palmquist indicated it was highly likely that Zhao would be housed at FDC SeaTac if sentenced to prison. Palmquist, who served as warden at the facility from 2003 to 2009, described it as having minimal natural light and being understaffed given its inmate population.
Palmquist expressed concerns that Zhao's wealth and public status would make him a target for threats to his physical and mental well-being, including theft and extortion. He noted that Zhao's lack of experience with the prison system and financial resources could make him vulnerable to manipulation by other inmates.
FDC SeaTac, located just south of the Seattle-Tacoma International Airport and housing 794 inmates according to its website, has previously held individuals such as a Proud Boys member charged in connection with the Jan. 6, 2021, Capitol attack and Jim Bell, a 'crypto-anarchist' charged with tax evasion in the 1990s related to 'Assassination Politics': a concept promoting anonymous payments for individuals to order the killing of government officials.
Zhao's lawyers submitted letters from supporters in plea for leniency, as U.S. guidelines suggest a 12 to 18-month sentence for the charge. Prosecutors, however, seek a three-year prison term and a $50 million fine.
Source - cointelegraph.com
#CryptoNews🔒📰🚫 #BinanceSquareTalks
💥💥💥 #BNB Price Holds Above $630 With Bullish Conviction; Should You Buy?
BNB has been gaining for the past two consecutive sessions, rising convincingly by over 5%. If buyers can maintain this momentum, it could pave the way for a new all-time high in the short term. This surge follows the news of Binance’s ex-CEO #ChangpengZhao (CZ) receiving a four-month jail term. A US federal judge sentenced CZ for failing to implement robust anti-money laundering policies.
As of now, BNB is trading at $629, up 0.58% for the day. Coinmarketcap reports a 24-hour trading volume of $2,422,606, coinciding with the price increase. Additionally, Open Interest (OI) has spiked by 24% in the past 24 hours, indicating growing investor interest in the coin.
On the 1-hour timeframe, BNB is trading near a bullish trend line that extends from the low of $594.94 on June 2. After reaching a high of $637.56, the price retreated slightly, giving sidelined buyers an opportunity to enter long positions. To sustain the upside momentum, bulls need to hold the session's low.
For further gains, the first resistance level is at the previous day’s high of $637.56, followed by $645. Conversely, if bearish momentum takes over, support could be found at the $627 level.
Technical Indicators:
Moving Average: Bullish Bias
- BNB is holding above the 21-hour SMA, currently at $627.17. The formation of multiple green candles at this support level indicates a demand zone.
RSI (14): Bullish Bias
- The Relative Strength Index (RSI) is at 53, suggesting a bullish bias in the short term.
In summary, BNB appears bullish on the short-term timeframe with upside targets in view. However, confirmation is needed before making aggressive trades.
Source - thecryptobasic.com
#CryptoTrends2024 #BinanceSquareUpdates #BinanceSquareTalks
BNB has been gaining for the past two consecutive sessions, rising convincingly by over 5%. If buyers can maintain this momentum, it could pave the way for a new all-time high in the short term. This surge follows the news of Binance’s ex-CEO #ChangpengZhao (CZ) receiving a four-month jail term. A US federal judge sentenced CZ for failing to implement robust anti-money laundering policies.
As of now, BNB is trading at $629, up 0.58% for the day. Coinmarketcap reports a 24-hour trading volume of $2,422,606, coinciding with the price increase. Additionally, Open Interest (OI) has spiked by 24% in the past 24 hours, indicating growing investor interest in the coin.
On the 1-hour timeframe, BNB is trading near a bullish trend line that extends from the low of $594.94 on June 2. After reaching a high of $637.56, the price retreated slightly, giving sidelined buyers an opportunity to enter long positions. To sustain the upside momentum, bulls need to hold the session's low.
For further gains, the first resistance level is at the previous day’s high of $637.56, followed by $645. Conversely, if bearish momentum takes over, support could be found at the $627 level.
Technical Indicators:
Moving Average: Bullish Bias
- BNB is holding above the 21-hour SMA, currently at $627.17. The formation of multiple green candles at this support level indicates a demand zone.
RSI (14): Bullish Bias
- The Relative Strength Index (RSI) is at 53, suggesting a bullish bias in the short term.
In summary, BNB appears bullish on the short-term timeframe with upside targets in view. However, confirmation is needed before making aggressive trades.
Source - thecryptobasic.com
#CryptoTrends2024 #BinanceSquareUpdates #BinanceSquareTalks