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DeFi

BNSOL Surpasses $1 Billion in Solana Liquid Staking TVL

by Ouess
written by Ouess

Binance’s liquid staking token, BNSOL, has achieved a remarkable milestone. In just three months since its launch, the token’s Total Value Locked (TVL) has exceeded $1 billion. This achievement highlights its rapid adoption and dominance in Solana’s growing liquid staking ecosystem.

BNSOL: A New Leader in Liquid Staking

BNSOL now represents over 10% of Solana’s liquid staking token market capitalization, valued at $9 billion. With more than 4.8 million SOL staked, it has become the largest exchange-backed liquid staking token for Solana.

Binance attributes the token’s success to its deep integration within its ecosystem and partnerships with decentralized finance (DeFi) protocols. These integrations enhance BNSOL’s utility in trading, lending, and liquidity farming.

Key Features Driving Growth

Launched in September 2024, BNSOL has quickly gained traction among Binance users. The token is integrated into over 20 Web3 projects, including Binance Wallet and Binance’s centralized exchange.

Key features include:

  • Zero Staking Fees: Available through the end of 2024.
  • Low Gas Fees: Users save on transaction costs while staking.
  • Super Stake Airdrops: Boosted rewards and APR events attract new stakers.

BNSOL’s rise also coincides with Solana’s expanding ecosystem, which saw its liquid staking ratio double in 2024.

Impact on Solana’s Ecosystem

BNSOL’s growth reflects broader trends in Solana’s development. The network has made strides in areas like stablecoins, DeFi, and decentralized physical infrastructure networks (DePIN). Binance’s advanced staking solutions have positioned BNSOL as a leader in this space.

Binance plans to capitalize on BNSOL’s success with additional airdrops, new protocol integrations, and expanded use cases for liquid staking tokens in 2025.

What’s Next for BNSOL?

The rise of BNSOL signals growing demand for accessible, utility-focused staking solutions. Binance aims to deepen its collaboration with Solana, leveraging its ecosystem to drive further innovation in liquid staking.

As Solana continues to evolve, BNSOL is poised to play a central role in shaping the future of staking within the network.

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Press Release

Binance Launches VANA: A New Era of Data Ownership

by Ouess
written by Ouess

Binance, the world’s leading crypto exchange, has unveiled VANA as its 62nd Launchpool project. VANA, an EVM-compatible Layer 1 blockchain, focuses on user data ownership and monetization. This innovative project promises to revolutionize how data is managed in a decentralized ecosystem.

Stake and Earn $VANA Tokens on Binance Launchpool

The VANA farming event begins on December 14, 2024, at 03:00 UTC and runs for two days, ending on December 15, 2024, at 02:59 UTC. Participants can stake BNB and FDUSD to earn $VANA rewards during the event.

What is VANA?

VANA is a blockchain platform designed to give users full control over their data. It is scalable, secure, and EVM-compatible, making it an ideal infrastructure for decentralized apps (dApps). By prioritizing user autonomy and data privacy, VANA redefines how personal data is handled.

Key Features of VANA

  • Data Ownership: Users maintain full control over their data.
  • Tokenized Data: Converts data into tradable digital assets.
  • Privacy & Security: Implements technologies like Zero-Knowledge Proofs (ZKP) and Trusted Execution Environments (TEEs) for robust security.
  • Decentralized Governance: Community members vote on network decisions via on-chain proposals.

$VANA Token Utilities

The $VANA token is the lifeblood of the VANA ecosystem. With a maximum supply of 120 million tokens, it powers all network operations and incentivizes user participation.

Key Token Utilities:

  • Network Security: Validators stake $VANA to secure the network.
  • Transaction Fees: Used for smart contracts and DataDAO interactions.
  • Data Liquidity: Tokens support DataDAOs, rewarding contributors for valuable data.
  • Governance: Token holders influence the platform’s future through voting.
  • Data Access: $VANA is the main currency for accessing tokenized datasets.

Token Supply and Distribution

  • Maximum Supply: 120,000,000 $VANA
  • Genesis Supply: 112,641,600 $VANA (93.87% of the total supply)
  • Circulating Supply at Launch: 30,084,000 $VANA (25.07% of the total supply)

The tokenomics are designed to reward early adopters and ensure long-term growth. By actively engaging in staking and governance, participants can help shape the ecosystem’s development.

A Decentralized Future with VANA

Binance’s launch of VANA marks a significant step toward decentralized data ownership. By staking and earning $VANA, users can play an active role in shaping this groundbreaking ecosystem.

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Story

PENGU Token Launches, Faces Sharp Sell-Off

by Ouess
written by Ouess

The highly anticipated PENGU token from the Pudgy Penguins ecosystem debuted on Solana this week. With an airdrop targeting millions of NFT holders and traders, PENGU quickly climbed into the top 100 cryptocurrencies by market cap. However, the excitement was short-lived as the token’s price plummeted throughout the day.

PENGU Price Drops Amid Sell-Off Frenzy

At launch, PENGU started at $0.068 but dropped 57% by the end of the day. This significant decline mirrors the behavior of other airdropped tokens. Over 20% of the total PENGU supply, worth around $9.3 million, has already been sold. Despite this, the token retains a substantial market cap of $1.8 billion.

Airdrop sell-offs are common as recipients often seek quick profits. However, PENGU’s rapid price drop is among the most severe in recent memory. Analysts predict that if selling pressure eases, the token’s value may stabilize at a new support level.

Pudgy Penguins NFT Collection Impacted

The sell-off hasn’t only affected PENGU tokens. The Pudgy Penguins NFT collection also saw its floor price fall to 17.2 ETH, even as daily sales spiked by 258%. This unusual activity reflects the aggressive buying of Pudgy Penguins NFTs in recent weeks by users hoping to qualify for the airdrop. Now, many are offloading their NFTs alongside the tokens.

Lessons from Similar Airdrops

PENGU’s steep decline echoes trends seen with other tokens like Movement Network’s MOVE and Magic Eden’s ME. MOVE dropped 50% last week after its Binance launch. Similarly, 80% of ME airdrop recipients sold their tokens immediately, driving prices lower.

Binance, the world’s largest crypto exchange, has faced criticism for listing low-cap airdrop tokens. These listings often lead to large-scale sell-offs, raising pump-and-dump concerns.

What’s Next for PENGU?

Despite the challenges, PENGU remains a major player with a robust market cap. If trading stabilizes and selling pressure subsides, the token might regain momentum. For now, both the token and its associated NFTs are navigating the turbulence of post-airdrop markets.

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Altcoin

BNB Price Bearish Momentum Signals More Corrections

by Ouess
written by Ouess

BNB recently hit a new all-time high on December 4, but the token is now experiencing a downtrend. Several technical indicators suggest bearish momentum is intensifying, potentially leading to further corrections in the short term.

ADX Signals Strengthening Downtrend

BNB’s Average Directional Index (ADX) jumped from 12 to 31 in just one day, highlighting the growing strength of the bearish trend.

BNB ADX. Source: TradingView

  • ADX values above 25 typically indicate strong trends, regardless of direction.
  • With the ADX at 31, the downtrend appears to be gaining momentum.

This increase suggests that unless a reversal occurs, selling pressure is likely to persist.

Ichimoku Cloud Confirms Bearish Outlook

BNB Ichimoku Cloud. Source: TradingView

BNB’s price has fallen below the Ichimoku Cloud, a strong bearish signal.

  • The cloud has thinned, showing weakening bullish momentum.
  • The Tenkan-sen (blue line) remains below the Kijun-sen (red line), confirming a bearish trend.
  • A red cloud indicates negative market sentiment, with increasing resistance for upward recovery.

If the price fails to break back above the cloud, it could face additional downward pressure.

EMA Death Cross Suggests Further Declines

The EMA lines have formed a death cross, where the shortest line crosses below the others.

  • This pattern often signals weakening bullish momentum.
  • If the $647 support level breaks, BNB may test lower levels at $622 and $593.

These zones are critical for determining the strength of the downtrend.

Key Price Levels to Watch

  • Support Levels: $647, $622, $593.
  • Resistance Levels: $687, $761.

A sustained break above $687 could signal a reversal, paving the way for recovery. Otherwise, the bearish trend may continue, pushing prices lower.

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Press Release

MOVE Token Launch Sees $1.6B Market Cap After Airdrop

by Ouess
written by Ouess

Movement Network, an Ethereum layer-2 blockchain, launched its native token, MOVE, with a massive airdrop on Monday.

The platform distributed 1 billion MOVE tokens to early adopters and community members. This launch sparked a significant rally in MOVE’s price, drawing widespread attention in the crypto world.

Airdrop Spurs MOVE Token Rally

The MOVE token debuted on Binance’s airdrop portal and was also listed on South Korean exchanges Upbit and Bithumb. Within six hours of its launch, MOVE surged to $0.74, achieving a market cap of $1.6 billion. Trading activity was intense, with nearly $450 million in volume recorded in just 90 minutes.

The Movement Labs team, which developed the blockchain network, had previously raised $38 million in Series A funding. The round, led by Polychain Capital, highlights the network’s strong backing.

What Powers the MOVE Token?

MOVE operates on MoveVM, a virtual machine built using the Move programming language, originally developed by Facebook. This technology also underpins other innovative projects like Sui and Aptos.

The total supply of MOVE is capped at 10 billion tokens, distributed as follows:

  • 10% allocated to the community and early users.
  • 22.5% reserved for investors.
  • 10% set aside for the network’s foundation.

This distribution model reflects a balanced approach to incentivizing adoption while funding long-term growth.

Airdrops Reshape the Crypto Market

Crypto airdrops remain a major driver of market activity. The MOVE token’s success follows other notable examples:

  • Hyperliquid’s HYPE token surged 60% after a similar airdrop.
  • The GRASS token airdrop from Grass Network gained attention despite technical hiccups.
  • WalletConnect distributed 50 million WCT tokens to over 160,000 users in November, sparking debates over fairness and transparency.

Airdrops like these have proven effective for boosting community engagement and adoption. However, execution challenges—like unclear selection criteria or technical issues—highlight the need for greater reliability in future initiatives.

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Memecoin

PEPE Binance.US Listing: Will It Revive the Meme Coin?

by Ouess
written by Ouess

PEPE, the popular meme coin that hit an all-time high (ATH) earlier this year, has struggled to maintain momentum. Its price remains stagnant, with short-term holders dominating the market.

However, the upcoming Binance.US listing on December 5 may provide a much-needed boost, offering liquidity and attracting new investors.

Short-Term Holders Dominate PEPE Supply

Short-term holders currently account for over 48% of PEPE’s supply. These investors, who typically sell within a month, create a volatile market. However, Binance.US listing could absorb this selling pressure by introducing fresh trading volume. This boost in liquidity may stabilize prices and attract a mix of retail and institutional investors.

Chaikin Money Flow Signals Challenges

PEPE’s Chaikin Money Flow (CMF), a metric that tracks money inflows and outflows, has shown a declining trend. Recent outflows suggest existing holders are either liquidating positions or not reinvesting. Without fresh capital, this trend could limit PEPE’s recovery.

The Binance.US listing offers a potential turnaround. Increased trading activity could counteract the outflows, enabling PEPE to regain upward momentum and potentially reclaim its ATH.

PEPE Price Prediction: Can It Hit a New ATH?

PEPE has been trading within a tight range of $0.00002334 to $0.00001793 for three weeks. To reach a new ATH, it must break out of this consolidation phase.

  • Current ATH: $0.00002597 (20% above the current price of $0.00002158).
  • Bullish Outlook: The Binance.US listing could drive prices beyond this level, sparking investor confidence.
  • Bearish Scenario: If the coin fails to break the range, it risks a drop to $0.00001489, challenging the bullish narrative.
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DeFi

Orbs and THENA Partnership Boosts DeFi Innovation

by Ouess
written by Ouess

Orbs, a leading Layer-3 blockchain infrastructure provider, is celebrating its collaboration with THENA, a decentralized exchange on the BNB Chain. Their partnership has introduced cutting-edge tools, secured a Binance listing for THENA, and advanced DeFi innovation.

A Milestone Partnership in DeFi

Since March 2023, Orbs has provided THENA with strategic investments, innovative Layer-3 technologies, and market expansion support. This partnership has significantly enhanced THENA’s trading solutions, introducing advanced tools like dTWAP, dLIMIT, and the Liquidity Hub, which improve trading efficiency and liquidity management.

The launch of Perpetual Hub enabled leveraged trading with reduced collateral requirements, setting THENA apart in the DeFi sector. Orbs also contributed $600,000 to accelerate THENA’s roadmap, fostering long-term development.

Binance Listing Drives Visibility

A major achievement in this partnership was THENA’s listing on Binance. This milestone, coupled with an airdrop campaign, significantly increased THENA’s visibility and adoption. It underscored the value of combining innovative technologies with strategic financial backing to reshape the DeFi landscape.

Orbs’ role in advancing blockchain innovation highlights the potential of Layer-3 infrastructure to transform decentralized finance ecosystems.

How Are ORBS and THENA Tokens Performing?

THENA Token Overview

  • Current price: $2.70 (8% drop in 24 hours).
  • Weekly surge: 1,200%, driven by Binance listing.
  • Market cap: $212 million.
  • Trading volume: $452 million, reflecting high investor interest.

ORBS Token Overview

  • Current price: $0.037.
  • Weekly growth: 12%; monthly growth: 18%.
  • Market cap: $118 million.
  • Trading volume: $43 million, showing steady demand despite Binance delisting.

While THENA has seen an immediate boost from its Binance listing, ORBS maintains steady growth through its robust ecosystem and innovative contributions.

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Altcoin

BNB Price Near All-Time High—But Is Momentum Fading?

by Ouess
written by Ouess

BNB has surged 181.79% this year and sits just 10% away from its previous all-time high of $719.84. Despite its bullish performance, recent indicators suggest that momentum may be slowing, hinting at potential consolidation.

BNB Uptrend Shows Signs of Weakness

The Average Directional Index (ADX), which measures trend strength, dropped to 19 from over 30 just two days ago. A reading below 20 indicates a weak or nonexistent trend.

BNB ADX. Source: TradingView

This decline suggests that while BNB’s price remains in an uptrend, its momentum has diminished. For the rally to regain strength, the ADX needs to climb above 25. Until then, the price may move sideways or encounter resistance near key levels.

Ichimoku Cloud Reveals Mixed Signals

The Ichimoku Cloud also points to uncertainty. BNB’s price remains slightly above key lines like the Kijun-Sen and Tenkan-Sen, indicating some bullish momentum. However, it hovers near the edge of the cloud, reflecting a lack of decisive strength.

BNB Ichimoku Cloud. Source: TradingView

The green cloud ahead offers mid-term support, but its flat shape suggests limited momentum in either direction. For a stronger uptrend, BNB must break well above the Kijun-Sen and move further from the cloud’s edge. Falling below the cloud could signal the start of a bearish trend.

BNB Price Prediction: New High or Consolidation?

BNB’s Exponential Moving Averages (EMAs) maintain a bullish alignment, with short-term EMAs above long-term ones. If momentum picks up, BNB could challenge resistances at $667 and $687.

Breaking these levels might propel BNB past its all-time high of $719.84 and into uncharted territory. However, a loss of momentum could push the price toward support at $603 or $593. Falling below these levels may lead to a deeper correction, undermining the current bullish structure.

Will BNB Continue Its Uptrend?

While technical indicators highlight a weakening trend, BNB still shows bullish potential. If key resistance levels hold and momentum strengthens, BNB could achieve a new all-time high. For now, traders should watch closely for movement above $667 or signs of support holding near $603.

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Altcoin

Solana Price Eyes New All-Time High Above $264

by Ouess
written by Ouess

Solana (SOL) recently reached a new all-time high of $264.39 on November 23 before a slight 3% correction brought it to $255.12. Despite this dip, the bullish momentum remains strong, with technical indicators signaling further upside potential.

Bulls Maintain Control Over Solana

Super Trend Indicator Signals Bullish Outlook

On the one-day chart, Solana’s price remains above the green line of its Super Trend indicator. This tool measures trend direction and strength, with the green line indicating bullish momentum. Positioned at $213.53, the green line acts as a strong support level where buying pressure could trigger rebounds after dips.

Solana Super Trend. Source: TradingView

Price Above the Ichimoku Cloud

Solana’s price also trades well above its Ichimoku Cloud, a dynamic support zone. This indicates a strong uptrend, as assets above the cloud typically experience further gains.

SOL Price Prediction: A New High in Sight?

Currently trading at $255.12, Solana faces resistance at its all-time high of $264.39. If buying pressure increases, this resistance could turn into a support floor, paving the way for a new record high.

Solana Price Analysis. Source: TradingView

However, if profit-taking activity grows, the price may drop to $231.35 or even test the $213.53 support level identified by the Super Trend indicator. A failure to hold these levels could delay the possibility of setting a new all-time high.

Why Solana Remains Bullish

  1. Strong Support Levels: Both the Super Trend and Ichimoku Cloud indicate robust support zones.
  2. Momentum Indicators: Solana’s upward trend suggests buyers remain in control.

With these factors at play, Solana’s bullish momentum could soon push it past its previous high, setting a new milestone in its price trajectory.

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Memecoin

Peanut (PNUT) Meme Coin Surges 2,000% in One Week

by Ouess
written by Ouess

The new meme coin Peanut (PNUT), built on the Solana blockchain, has seen a dramatic 2,000% price increase in just a week. This rapid rise marks PNUT as one of the top-performing tokens of the week and has caught the crypto community’s attention.

PNUT’s Demand Surges, No Longer Worth Peanuts

The demand for PNUT is clear from its soaring trading volume. Within just 36 hours, the volume jumped 690%, rising from $291 million to a staggering $2.3 billion. This surge signals growing interest in the meme coin, especially considering its recent launch. Despite being a new entrant, PNUT is already showing strong market sentiment, attracting investors looking for high returns and driven by the token’s rising popularity.

PNUT Trading Volume. Source: Santiment

PNUT Enters Top 100 Crypto Assets

PNUT’s impressive rally has pushed it into the top 100 cryptocurrencies by market capitalization. With a market cap now over $1 billion, the token has already outperformed established names like Algorand (ALGO), Raydium (RAY), and Bitcoin SV (BSV). The recent listing of PNUT on Binance has further boosted its visibility, making it accessible to more traders and driving its rapid growth.

Source : CoinMarketCap

This sharp rise in market value highlights the impact of crypto trends and major exchange listings on a token’s performance. PNUT’s growth and strong market presence showcase the significant influence of investor sentiment and market dynamics.

PNUT Price Prediction: Can the Rally Continue?

On Wednesday, PNUT’s price surged another 154%, pushing its trading price to $1.15. This gain adds to the week’s 2,000% increase, indicating strong momentum. If the current enthusiasm in the meme coin market persists, PNUT could aim for a target price of $2.00, assuming investor interest remains high.

However, there’s a risk of profit-taking, which could lead to a pullback in PNUT’s price. New meme coins often face high volatility, and a wave of selling might trim some of the recent gains.

What’s Next for Peanut (PNUT)?

With its strong market entry, Peanut (PNUT) is becoming a rising star among meme coins. The combination of high demand, a significant exchange listing, and strong price momentum could continue to drive its growth. Investors are closely watching to see if PNUT can sustain its rally and reach new price milestones in the coming days.

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