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Press Release

Solana Meme Coins ACT and PNUT Soar Over 1300% After Binance Listing

by Ouess
written by Ouess

The world’s largest crypto exchange, Binance, recently announced the listing of two new Solana-based meme coins: ACT I: The AI Prophecy (ACT) and Peanut the Squirrel (PNUT). The news triggered massive price surges, with ACT jumping over 1300% and PNUT climbing 250%. Here’s what you need to know about this explosive rally.

Binance Lists ACT and PNUT Tokens

On Monday, Binance confirmed that it would open spot trading for both ACT and PNUT starting November 11. Users can trade these tokens in the pairs ACT/USDT and PNUT/USDT. Withdrawals will be available from November 12, adding liquidity for traders. The listing has already sparked a huge price increase for both meme coins.

Notably, Binance applied its Seed Tag to these tokens, highlighting the higher risks and volatility associated with early-stage projects. ACT brings an AI-themed angle to the meme coin market, while PNUT adds a playful, speculative option for traders.

ACT and PNUT Price Performance

The price of ACT is currently at $0.35, marking a staggering 1300% gain in the last 24 hours. The token’s high and low were $0.36 and $0.019, respectively. Trading volume soared by almost 4000%, indicating intense market interest.

Similarly, PNUT is trading at $0.37, up 250% in the last 24 hours. The token’s high and low were $0.42 and $0.091, respectively. Its 24-hour trading volume hit $306 million, highlighting strong demand among crypto enthusiasts.

Meme Coin Season in Full Swing

The spike in ACT and PNUT prices comes amid a broader meme coin season. Recently, Dogecoin surged to the sixth position in market rankings, surpassing XRP and USDC. This trend reflects the growing popularity and speculative nature of meme coins in the current crypto market.

Conclusion

The rapid price increase of ACT and PNUT has caught the attention of many in the crypto space. However, traders should be cautious, as these coins come with significant volatility and risks. With meme coin mania continuing, it remains to be seen if this rally will sustain or fade in the coming days.

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Altcoin

BNB Coin Price Prediction: Can Bulls Push it to $606?

by Ouess
written by Ouess

On November 1, BNB Chain completed its 29th quarterly token burn, effectively lowering the overall supply of Binance Coin (BNB). This event has sparked bullish sentiment among investors eager to see if the reduced supply can drive BNB’s price higher. Here’s an analysis of the factors at play.

BNB Chain’s Token Burn Fuels Investor Optimism

In a recent update, BNB Chain announced it had burned 1.77 million BNB, valued at over $1 billion. This burn included 1.71 million tokens via the Auto-Burn process and an additional 62,569 BNB specifically for BTokens. The burns are part of BNB’s long-term goal of reducing its total supply to 100 million tokens, which could increase scarcity and boost the coin’s value.

Following this burn, the Balance of Power (BoP) indicator on the daily chart moved higher, showing potential bullish momentum. When BoP readings rise, it suggests that buyers have control, often signaling price growth. Currently, BNB trades around $576, with bulls hoping this trend continues.

Positive Market Sentiment for BNB

https://twitter.com/BigCheds/status/1852532637295845740

On-chain data from Santiment shows a positive Weighted Sentiment for BNB, reflecting optimism among investors. Weighted Sentiment uses social media mentions to assess market perception, where positive readings suggest a favorable outlook. The current sentiment may support demand as more traders anticipate a price rise.

https://twitter.com/Berit1p/status/1852280774541603092

Key Levels: Will BNB Reach $606?

Technically, BNB is showing bullish signs after defending the $573 support level. If this level holds, the next target is $596, with the potential to rally further to $606. An inverse head-and-shoulders pattern on the daily chart adds to the case for a potential reversal to bullish momentum.

However, if bearish pressure increases, BNB could dip below $563, with a further decline toward $543.

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Press Release

Binance Supports Viction (VIC) Network Upgrade on October 29, 2024

by Ouess
written by Ouess

Binance has confirmed its support for the upcoming Viction (VIC) network upgrade and hard fork, scheduled for October 29, 2024. The upgrade will occur at block height 86,158,494, and Binance will ensure a smooth transition for its users.

Key Details of the Viction Network Upgrade

Deposit and Withdrawal Suspension
To facilitate the upgrade, Binance will temporarily suspend VIC token deposits and withdrawals starting at 10:00 AM on October 29, 2024. This is a standard procedure to avoid any disruptions during the network update.

Network Upgrade Time
The upgrade is expected to happen around 11:00 AM, allowing for necessary changes in the network’s functionality and tokenomics.

Post-Upgrade Changes in Tokenomics

Increased Token Supply
One of the major changes following the upgrade will be the increase in VIC’s total token supply, from 100 million to 210 million tokens. This adjustment aims to enhance the network’s performance and scalability.

Immediate Circulation Boost
An additional 20 million tokens will be added to the circulating supply right after the upgrade, potentially impacting market dynamics.

Important Considerations for Traders

Trading Continues Unaffected
Trading of VIC tokens on Binance will not be interrupted during the upgrade. Users can continue their trading activities as normal.

Automated Technical Management
Binance will handle all technical aspects of the upgrade for its users, so no manual action is required. This ensures a seamless experience for traders.

Deposits and Withdrawals Resume Post-Upgrade
Once the upgrade is confirmed to be stable, Binance will reopen deposits and withdrawals. Users will not need to wait for further announcements regarding this.

Binance’s Role in the Upgrade

This upgrade is part of Viction’s strategy to adjust its tokenomics and improve its network. Binance’s support ensures users experience minimal disruption and have access to their VIC tokens once the network is stable.

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Altcoin

Binance Hits $100 Trillion Volume, BNB Price Set for $800 Rally

by Ouess
written by Ouess

Binance has once again cemented its position as the leading cryptocurrency exchange, surpassing $100 trillion in combined spot and derivatives trading volume. This milestone has further fueled speculation about a potential rally in Binance Coin (BNB), which is currently priced at $597, with analysts predicting a surge toward $800.

Binance Achieves Historic $100 Trillion Trading Volume

In a major achievement, Binance became the first centralized exchange (CEX) to reach $100 trillion in trading volume, according to CCData. This massive volume includes both spot and derivatives markets, showcasing Binance’s dominance in the crypto world. The surge reflects growing interest in digital assets and highlights Binance’s ability to attract capital flows into the crypto sector.

Binance now sits at the top of the crypto exchange leaderboard. In comparison, OKX, the second-largest exchange, has a lifetime trading volume of $25 trillion. FTX, despite closing its operations in November 2022, remains the sixth-largest exchange by volume, thanks to the high activity it had before shutting down. Other major players include Bybit and Bitget, with volumes of $13.2 trillion and $10.9 trillion, respectively.

Expanding Mobile Money Options in Africa

In addition to its trading success, Binance has expanded its operations in Africa by integrating mobile money payment options in six countries: Benin, Cameroon, Ivory Coast, the Democratic Republic of Congo, Togo, and Senegal. This expansion allows users in these regions to purchase cryptocurrencies via mobile money, offering a more accessible entry point to the digital economy.

This move follows the success of Binance’s “One Click Buy and Sell” (OCBS) service, which was launched earlier this year in other African nations. The focus on Africa underscores Binance’s commitment to improving financial inclusion across the continent.

BNB Price Eyes Potential Rally

As Binance continues to expand and dominate the market, attention is turning to the price of its native token, BNB. Currently trading around $597, BNB has shown strong resilience, even in a volatile market. Analysts are closely watching the $620 resistance level—if BNB breaks through, a rally toward $800 could follow, representing a potential 35% increase.

At the time of writing, Binance Coin is up 3.61% over the past week, with a market cap of $87.16 billion and a 24-hour trading volume of $1.48 billion.

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Press Release

Binance Launches Spot Trading for Scroll (SCR), Fuels Price Optimism

by Ouess
written by Ouess

Binance, the leading cryptocurrency exchange, has revealed plans to expand trading for Scroll (SCR), a zero-knowledge rollup crypto. The announcement has sparked optimism about SCR’s future price movements as Binance prepares to end pre-market trading and begin spot trading.

Binance to Launch Spot Trading for Scroll (SCR)

In an October 18 announcement, Binance revealed that pre-market trading for Scroll will end on October 21 at 09:00 UTC. Following this, spot trading will begin for the following pairs: SCR/BTC, SCR/USDT, SCR/FDUSD, and SCR/TRY. Trading will officially start on October 22 at 08:00 UTC, with withdrawals available from October 23 at 08:00 UTC. The exchange emphasized that no listing fee (0 BNB) will be applied, signaling Binance’s strong support for the zk rollup project.

Additionally, Binance will apply a “seed” tag to SCR, indicating that it is a high-risk, volatile asset. All pre-market orders will be automatically removed once pre-market trading ceases, and users are encouraged to deposit SCR ahead of spot trading.

SCR Price Outlook: Will Gains Continue?

SCR has already experienced significant growth, with its price surging over 200% since its pre-market listing in early October. Although the token dipped 5% today, trading at $1.27, market analysts believe Binance’s expanded offerings could lead to more upward momentum. The token’s intraday high reached $1.39, and many expect further gains as new liquidity flows into the market.

The recent performance of SCR highlights the potential for continued growth, especially with Binance’s additional trading pairs offering more exposure. As Binance continues to solidify its role as a top exchange, projects like Scroll may benefit from increased market participation.

Binance Expands Offerings for SUI and TURBO

Alongside Scroll, Binance has also expanded offerings for other projects like SUI and TURBO, reinforcing its reputation as a leading crypto exchange. These new listings and trading options help attract more traders and liquidity, which could further boost the price of SCR and similar assets in the coming months.

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Altcoin

Binance Lists Staked SOL (BNSOL) with Up to 10% APR Promotion

by Ouess
written by Ouess

Binance has announced the upcoming listing of Binance Staked SOL (BNSOL), offering users new opportunities and benefits. This token represents staked Solana (SOL) along with staking rewards, making it tradable and transferable on the Binance platform.

BNSOL Gains Listing on Binance with Boosted APR

On October 9, Binance confirmed that trading for the BNSOL/SOL pair will begin on October 10 at 08:00 UTC. This announcement also outlined details about a special promotion period that will run from October 16 for 8-10 days. During this time, both new and existing BNSOL holders can earn up to 10% APR (annual percentage rate). However, the APR will fluctuate between 8-10% based on the total value locked in each staking epoch, typically lasting 2-3 days. After the promotion period ends, the APR will stabilize.

This listing has generated significant attention within the crypto industry, bringing more focus to the staked SOL product. Binance users can acquire BNSOL by staking SOL through the exchange’s Web3 wallet or by navigating to the “staking SOL” section on Binance’s Earn page.

Benefits of Staked SOL Token

Unlike traditional staking, which locks users’ assets, Binance Staked SOL (BNSOL) offers more flexibility. It allows users to trade, transfer, or move their staked SOL to external wallets while still earning staking rewards. This flexibility is designed to provide users with greater control over their assets while participating in Solana staking.

Market Reaction and Industry Outlook

According to CoinMarketCap, BNSOL is trading at $143, down about 1% in the last 24 hours. Solana’s native token (SOL) is also trading at $143, reflecting a similar 1% dip. Despite the slight decline, optimism remains high. Popular crypto influencer BitBoy tweeted, “Big moves are coming in the SOL ecosystem,” hinting at further developments.

This Binance listing aligns with the exchange’s recent efforts to offer more innovative projects and backing, as seen with the recent listing of Scroll (SCR).

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Altcoin

BNB Completes Wyckoff Pattern Phases: New Highs Possible?

by Ouess
written by Ouess

Binance Coin (BNB), the fourth-largest cryptocurrency by market cap, has completed the first three phases of the Wyckoff pattern, according to crypto analyst MartyParty. This technical pattern suggests that BNB could avoid a major correction and enter a new accumulation phase soon.

BNB and the Wyckoff Pattern: What It Means

The Wyckoff pattern is a widely used technical indicator that includes four key phases: accumulation, momentum, distribution, and discount. According to MartyParty, BNB has successfully moved through the first three phases, signaling a possible retracement before entering a new bullish phase.

Price Outlook for BNB

BNB has traded between $465 and $610 since June, and a breakout above $610 could indicate a potential trend reversal. If buying volume increases, BNB could aim for its all-time high of $720.67. While BNB is currently around 20% below its ATH, this upward potential remains strong if buying pressure grows.

BNB Price Analysis

Recent price movements for BNB paint a bullish picture. Over the past 30 days, BNB has surged by 11.81%. However, short-term data shows the cryptocurrency is down by 0.26% in the last 24 hours and 3.71% over the past week.

The Relative Strength Index (RSI) for BNB is currently at 54.56, suggesting bulls are in control, and a slight price increase could be on the horizon. To break out of its consolidation zone, BNB needs a boost in buying volume.

Final Thoughts

BNB’s technical signals suggest the possibility of further upward movement if key resistance levels are broken. As the market continues to monitor BNB’s progress, increasing buying pressure could lead to new highs.

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Story

BNB Price Surges After CZ’s Release: Will the Rally Last?

by Ouess
written by Ouess

The recent release of Changpeng Zhao (CZ), the ex-CEO of Binance, has sparked excitement in the crypto market, with the price of BNB surging to a one-month high. The Binance Coin (BNB) jumped significantly following CZ’s first tweet after his release from prison.

BNB Price Boosts After CZ’s First Tweet

On September 27, CZ, a major figure in the crypto world, completed a four-month prison sentence after paying $50 million in fines. His return to the public eye with a simple “GM” tweet on X (formerly Twitter) triggered a quick rise in BNB’s price, climbing from $606.25 to $616.53—a peak for the month.

Though the BNB price had been on a bullish trend since its August low of $464.63, this tweet amplified momentum. In September alone, BNB rose 11%, fueled by market anticipation of CZ’s release. However, after the brief surge, the price dropped back to $604, showing the impact was short-lived.

Is the BNB Price Rally Sustainable?

The crypto market is notorious for its volatility, and BNB is no exception. While CZ’s return temporarily pushed BNB’s price higher, technical indicators point to a potential shift. The Relative Strength Index (RSI) is at 64.3, suggesting the market is nearing overbought levels. Additionally, indicators like Williams %R, Commodity Channel Index (CCI), and Momentum signal strong selling pressure, which could lead to a short-term dip or price consolidation.

That said, there are signs of a bullish trend for BNB in the long run. Both the simple and exponential moving averages show strong buying signals. If BNB can maintain its position without hitting the overbought zone, there may still be potential for a longer uptrend.

Final Thoughts

Changpeng Zhao’s release and his return to social media have undoubtedly stirred the crypto market, creating short-term excitement around BNB. However, despite the initial surge, the coin’s price remains influenced by broader market conditions. With “Uptober” and the anticipated market rally, the coming weeks will be crucial in determining whether BNB can maintain its bullish

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DeFi

Terra Luna Classic Approves Major Proposal Amid LUNC Price Optimism

by Ouess
written by Ouess

The Terra Luna Classic community recently approved a crucial proposal aimed at improving governance and stability. This decision has sparked optimism about a potential rally for LUNC, particularly as Binance continues its token burn initiative.

Terra Luna Classic Approves Governance and Stability Proposal

The Terra Luna Classic blockchain has made significant strides with the approval of a proposal led by BLV Labs. This proposal focuses on enhancing the blockchain’s governance module, addressing key issues such as the volatility of the deposit required to submit proposals.

Currently, creating a proposal on the Terra Luna Classic blockchain requires a deposit of 5 million LUNC. The challenge arises when the price of LUNC fluctuates, making the deposit too high or too low. This instability has caused concerns for the network’s governance.

To solve this, BLV Labs proposes using the Oracle module to automatically adjust the deposit based on LUNC’s current price. This would ensure a stable deposit value of $500, preventing bad actors from submitting spam proposals when LUNC’s price drops significantly.

Community Support and Market Impact

The proposal received overwhelming support, with more than 85% of the votes cast in favor. This shows strong community backing for the changes and has sparked discussions about its potential positive effect on LUNC’s price. Many believe this proposal will help create a more secure and efficient ecosystem, further enhancing confidence in the Terra Luna Classic project.

LUNC Price Outlook: Can It Rally?

At the time of writing, LUNC was up by 1.03%, trading at $0.00008641, with trading volume holding steady at $15.02 million. Despite this price increase, Futures Open Interest dropped by 3.5%, indicating some market caution.

However, the proposal’s approval, coupled with Binance’s ongoing LUNC burn mechanism, has boosted market sentiment. This combination of factors could contribute to a potential price rally for LUNC in the near future.

Additionally, USTC price saw a 3% increase to $0.01828, and LUNA price was up nearly 1% to $0.3884, further reflecting positive market sentiment in the Terra ecosystem.

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Altcoin

Binance Increases LUNC Burns, Boosting Terra Luna Classic Prices

by Ouess
written by Ouess

Crypto exchange Binance has ramped up its efforts to burn Terra Luna Classic (LUNC) tokens this month, igniting excitement in the Terra Luna Classic community. As the largest contributor to the LUNC burn initiative, Binance has already burned over 64.47 billion LUNC tokens in a bid to boost the token’s value and support its ecosystem revival.

Binance LUNC Burn Mechanism Sees Updates

Recent data shows Binance has likely revised its LUNC burn strategy, increasing the frequency of burns. Traditionally, Binance burned LUNC tokens on the first day of each month. However, this month, the exchange has already conducted six burns, leading to speculation within the community.

Earlier, Binance reduced its Terra Luna Classic spot and margin trading fees to 50% from 100%, delaying the burn contribution for several months. Despite this, the exchange is now burning more LUNC tokens than expected.

In the 25th batch of burns, Binance destroyed 1.19 billion LUNC tokens, equivalent to $97,229.23 in trading fees between July 31 and August 29. Additionally, Binance has burned another 199,389 LUNC tokens in five transactions so far this month. These changes have sparked rumors that the exchange has adjusted its burn mechanism.

Terra Luna Classic Token Prices Surge

The increased burn activity has had a positive impact on LUNC’s price. Over the past 24 hours, LUNC has risen by 3% and 7% over the week, currently trading at $0.00008557. The token hit a 24-hour high of $0.00008622 and a low of $0.00008188. Furthermore, trading volume has surged by 16%, indicating growing interest among traders.

Data from Coinglass shows that open interest in LUNC derivatives on Binance and Bybit has increased by 5%, reflecting a rise in active buying among traders.

In addition to LUNC’s gains, USTC, another token in the Terra Luna Classic ecosystem, has also seen a 2% price increase, now trading at $0.0177. USTC’s trading volume surged by 72% in the last 24 hours, with traders taking advantage of the dip and pushing the price up by 9% over the week.

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