Category: Cryptocurrency News

Evergrande’s ongoing bankruptcy saga has significant macroeconomic implications — including for the global cryptocurrency market.

On Sunday, Binance announced that it will halt 39 liquidity mining pools this week following the latest assessment. As a result of a supposed failure to pass this assessment, these 39 liquidity pools are expected to stop operating on September 1, 2023. Liquidity Pools Stopped By Binance This decision was made due to the platform’s recent liquidity mining performance. The announcement said Binance Liquid Swap will “periodically review listed liquidity pools to concentrate liquidity for our users and ensure optimized trading experience, price and slippage.” Related Reading: Friend.tech Activity Crashes 94%, Is This The End? As a result of the most recent review, the 39 liquidity pools listed below are expected to cease operation on Friday:  ADA/BNB, ALICE/BTC, APE/BTC, AVA/USDT, AVAX/BNB, BTC/TUSD, CHZ /BNB, CHZ/BTC, CTSI/BNB, DOT/BUSD, ENJ/USDT, FIL/BNB, FRONT/BUSD, GALA/BNB, ICP/BNB, ID /BTC, KDA/USDT, LIT/USDT, MATIC/BNB, NEO/BNB, PAXG/USDT, PEPE/USDT, SANTOS/USDT, SUSHI/BNB, SUSHI/BTC, SXP/BNB, SXP/BTC, THETA/BNB, THETA/BTC, TKO/USDT, TLM/USDT, TRX /BNB, TRX/ETH, WBTC/ETH, XMR/ETH, XMR/USDT, XVS/BTC, XVS/USDT, ZEN/USDT. For now, users will not be able to add liquidity to these liquidity pools from today. However, the liquidity of the liquidity pools listed above will still remain accessible to ensure that users are provided with a trading experience.  Users will also still be able to redeem and withdraw their assets from the respective pairs on Binance Spot before the closing date on September 1, 2023. User deposits in the liquidity pool will be calculated following the current composition of the respective pool and then it will be converted to the user’s Spot wallet automatically. According to the announcement, the removal of the liquidity pools listed above will not hinder other trading respective pairs on Binance Spot and users will still be able to trade on other liquidity pools that are currently available on Binance Liquid Swap. This marks the second time Binance has eliminated liquidity pools this month. On August 9, 2023, Binance also announced that the exchange would stop about 38 liquidity pools on August 18, 2023. BNB price remains above $215 support | Source: BNBUSD on Tradingview.com  Multiple Charges Hinder Binance’s Business Amid these developments, the Binance crypto exchange continues to deal with regulatory pressures that seem to be affecting its business. Firstly, Visa and Mastercard are slowly cutting their ties with Balance due to the multiple regulatory actions from the US Securities and Exchange Commission (SEC) against the exchange. One of the allegations brought against Binance is that the exchange has been operating under an unregistered business and misled investors about the company’s risk. Related Reading: Shibarium Launch Proves Positive As Shiba Inu-Based BONE Celebrates New Milestone Also, the US Commodity Futures Trading Commission (CFTC) in May brought multiple charges against the exchange for what it calls a “willful evasion” of US law. Among the hurdles the exchange is also facing include allegations that the US Department of Justice is looking into the exchange and is considering charging Binance for fraudulent activities. On August 23, 2023, Binance announced on X (formerly Twitter),  that the exchange’s card known as the Binance Card will no longer be available to users in Latin America and the Middle East. Featured image from The Information, chart from Tradingview.com

Well, there's honestly not much surprising here. As we all know, tons of PEPE tokens have disappeared from the multi-sig wallet. The amount of tokens is the only thing that was in dispute. In a statement put out Twitter the PEPE team(or what is left of it) have stated that $16 trillion PEPE tokens were…
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PEEPanEIP-7045: Increase max attestation inclusion slot A talk with Ethereum's researcher and ACDC chair Danny Ryan on the upcoming EIP-7045! https://youtu.be/Z4tMgrreCN8 ​ submitted by /u/poojaranjan19 [link] [comments]

Impact Theory produces entertainment and educational podcasts and was “trying to build the next Disney” when it invited investors to purchase its NFTs.

The Bitcoin price has barely moved a few hundred dollars since late last week, but a vital metric hints at another aggressive move. In the meantime, the cryptocurrency is likely to keep trading sideways until another liquidation event flips momentum into a specific direction. Related Reading: JP Morgan Explains Why Bitcoin Price May Not Fall Further As of this writing, Bitcoin trades at $26,100 with sideways movement in the last 24 hours. In the previous seven days, BTC recorded similar price action while other tokens in the top 10 moved in tandem except for Binance Coin (BNB) and Solana (SOL). Bitcoin Price On Brink Of New Liquidation Event? As the Bitcoin spot price trends sideways, most of the action turns to option contracts where “smart money” is positioning for a big move. According to a report from derivatives platform Deribit, traders in the sector are betting on the long side solely based on the potential approval of a Bitcoin price spot Exchange Traded Fund (ETF) in the US. Thus, most traders have been buying call (buy) contracts for Bitcoin to rise above $30,000 by the end of the year. These might have been betting on the regulator and courts to announce a decision from the many petitions or because of the case filed by asset manager Grayscale. Neither of these events has come to fruition, which has led to a decline in the overall sentiment across derivatives. As the spike in call buyers suggested, this sentiment has been primarily bullish but will likely turn negative as the US stalls its Bitcoin price spot ETF decision. Deribit stated: Constant positivity on ETF approval has been the main driver for medium-long-term Call buying. And yet as this moves out the timeline from Q3 to Q4 to even ’24, patience is running thin. With delays, drifting confidence & macro headwinds, we start to observe downside hedges. These hedges might have contributed to the Bitcoin price’s recent action as operators sell their spot position to cover their call contracts with late expiration. In that sense, the main catalyzer was the liquidation cascade that the cryptocurrency experienced when moving around $29,000. Related Reading: CryptoQuant Discusses How Bitcoin Has Changed In Past 1 Year At that time, as BTC trended sideways, open interest across the derivatives sector trended to the upside. As pointed out by an analyst, a similar situation is taking place currently and could lead to another aggressive move with a downside potential. #Bitcoin Open Interest continues to rise again. Price is still moving sideways. I would assume that we’d see some proper action over the next couple of days as long as open interest keeps rising at this pace. pic.twitter.com/VV2xAds0t4 — Daan Crypto Trades (@DaanCrypto) August 28, 2023 Cover image from Unsplash, chart from Tradingview

The S&P 500 is attempting a recovery, but Bitcoin and select altcoins are struggling to break above their respective resistance levels.

A Binance spokesperson reportedly said the global cryptocurrency exchange was considering all options in regard to Russia, “including a full exit.”

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