Category: Cryptocurrency News

The upcoming exchange, Infinex, will cater to both novice and experienced traders by offering features similar to centralized exchanges (CEX).

BNB Chain, the blockchain platform powering the Binance ecosystem, has recently emerged as a formidable force in the crypto world, surpassing its competitors in terms of daily active users. This surge in user engagement has coincided with a surge in the value of the BNB token, which has experienced a steady increase of over 5% within a single week.  As BNB’s daily active users continue to soar, one can’t help but question the overall impact of this unprecedented growth. What lies behind BNB’s ability to outshine its rivals and attract a growing user base? Is there a hidden catalyst propelling its value upwards?  Moreover, as these metrics diverge from the norm, skeptics begin to raise valid concerns about the sustainability and potential risks associated with BNB’s rise. BNB Chain Surpasses BTC, ETH In Daily Active Users In the ever-evolving landscape of blockchain technology, BNB Chain has recently achieved a significant milestone, surpassing renowned chains such as Bitcoin (BTC) and Ethereum (ETH) in terms of daily user activity. According to a BNB analysis, the chain secured the second position, solidifying its position as a formidable player in the crypto world. Related Reading: Cardano Development Activity Dropping – What Does It Mean For ADA Price? Token Terminal’s data also revealed that BNB Chain boasts an impressive count of over 1 million daily active users, a testament to the platform’s growing popularity and appeal. This notable achievement is even more remarkable considering the longstanding dominance of Bitcoin and Ethereum, which have traditionally held the top positions in the cryptocurrency market. Source: Token Terminal The BNB token has also made waves in the market. Currently priced at $248.78, it experienced a slight setback with a 3.5% slump in the past 24 hours. However, the token quickly bounced back with a decent 5.4% increase in the last week. Source: CoinMarketCap Mixed Signals While the BNB Chain has garnered widespread enthusiasm and positioned itself as a competitive player in the crypto market, recent data from Santiment reveals a nuanced picture. Despite the chain’s impressive user base, as measured by daily active addresses, the level of excitement appears to be relatively consistent without any notable spikes, according to Santiment’s analysis.   Source: Santiment Related Reading: Optimism (OP) Rides The Wave Of Today’s Crypto Surge With 15% Rally When examining the Total Value Locked (TVL) metric, which indicates the amount of assets held within a blockchain protocol, BNB Chain falls behind Ethereum and Tron, occupying the third position. As of the latest data, the TVL for BNB Chain stands at approximately $3.4 billion, highlighting room for growth in this area. Total cryptocurrencies market cap at $1.18 trillion. Chart: TradingView.com Similarly, the stablecoin market cap on the BNB Chain has exceeded $5 billion. However, Santiment’s charts indicate that both the TVL and market cap metrics have yet to exhibit a significant upward trend, despite the chain’s growing user base. This suggests that while BNB Chain boasts a higher number of active users, the overall TVL and market cap have not fully reflected this growth. (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from Gadgets 360

Discover five platforms — Aave, Compound, MakerDAO, dYdX and Fulcrum — that are transforming lending and borrowing through decentralization.

While it is an initial step in a lengthy regulatory journey, it holds great importance for the Bitcoin community submitted by /u/coinmarshal [link] [comments]

The SEC’s acknowledgment indicates the commencement of the official review process for BlackRock’s ETF proposal.

submitted by /u/boogaav [link] [comments]

Is the Zero Knowledge mania over? ZkSync, Starknet, Polygon zkEVM, the list goes on. But there's one that eclipsed all the others – Polygon zkEVM. The chain launched in late March, today marking 3.5 months of continuous growth in TVL, wallets, and transactions. Let's go over Polygon zkEVM's Metrics: Average Gas Fee Per Transaction: 0.000157…
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Avalanche (AVAX), the native token of the Avalanche blockchain, has witnessed a notable price surge of 27.39% over the past seven days, capturing the attention of traders and investors. Currently facing strong resistance at the EMA50 daily level, AVAX is showing promising signs of potential bullish momentum. As buyers accumulate AVAX anticipating a breakout, optimism grows within the market. As of the latest data, Avalanche is trading at $15.45 per AVAX, showcasing impressive price growth within the past week. With a circulating supply of 345,845,505.008 AVAX, the token’s total market capitalization stands at $5,294,894,681.68. Furthermore, AVAX has experienced a substantial surge in trading volume, which has increased by $2,091,996,941.63 in the last 24 hours, marking a significant 381.96% rise. In the past day, approximately $547,703,576.77 worth of AVAX has been traded. AVAX: Strong Resistance And Accumulation The EMA50 daily level has emerged as a formidable resistance point for the coin, presenting a considerable challenge for buyers to overcome. However, buyers’ increasing accumulation of AVAX indicates a positive sentiment and a belief in the token’s potential to breach the resistance level. Traders have noticed similarities between AVAX and other successful cryptocurrencies, drawing comparisons that suggest a potentially significant price surge. Related Reading: XRP Explodes With 1,300% Surge In Trading Volume As crypto Exchanges Jump On Board Looking at the technical indicators, its relative strength index is at 65 in the neutral zone between the oversold region of 50 and the overbought region of 75. The Moving Average Convergence/Divergence (MACD) is currently in the buy zone which is a bullish signal. In addition, the histogram bars are green and signal that a bullish trend is ahead and if the bulls persist, the crypto is likely to have a sustained uptrend in the coming days Growing Investor Interest And Bullish Sentiment The ongoing accumulation of AVAX demonstrates a growing interest and confidence among investors in the token’s underlying technology and future growth potential. As buyers strategically position themselves at key support regions, they aim to capitalize on the anticipated breakout and potential price appreciation. This accumulation activity is a positive indicator for AVAX and reinforces the belief that the token’s price could experience a notable upward movement. Market participants closely monitoring Avalanche have identified similarities between its current price pattern and other successful cryptocurrencies. In particular, the comparison with SOL, which experienced a significant surge after successfully breaking through a crucial resistance level, adds to the overall bullish sentiment surrounding AVAX. These comparisons contribute to the growing optimism within the market. Related Reading: PEPE Sees Sharp 17% Surge, But Will This Whale Spoil The Party? While the accumulation of AVAX and the anticipation of a breakout are encouraging signs, it is essential to acknowledge the highly volatile nature of the cryptocurrency market and the potential influence of various market forces. Traders should exercise caution and consider other technical indicators and market factors that may impact AVAX’s price trajectory. (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured Image from iStock, chart from TradingView