In the last two months, Bitcoin (BTC), the world’s most valuable cryptocurrency, has been increasingly decoupling from XRP, the native currency of the XRP Ledger (XRPL), and BNB, the coin priming the broader Binance ecosystem. While this pans out, Dogecoin (DOGE) and Cardano (ADA) remain mostly correlated with Bitcoin. XRP, BNB Decoupling From Bitcoin While…
In a recent investigative report by the media outlet Unlimited Hangout, serious allegations were made against Noah Perlman, the chief compliance officer of Binance. The report highlights Perlman’s alleged ties to the collapse of FTX, the troubled Gemini exchange owned by the Winklevoss twins, and even convicted and deceased sex trafficker Jeffrey Epstein. If the…
TrueUSD (TUSD), a stablecoin with a market cap exceeding $3.1 billion, appears “shaky” and briefly depegged on November 22, dropping to as low as $0.9976 before restoring its peg. The temporary depeg was attributed to a deluge of selling orders, according to Kaiko, a blockchain analytics firm. TUSD Briefly Depegs, Large Selling Orders Rolling Through…
The prior week’s notable increase in options trading and derivatives activity made the market look positive. When the price of Bitcoin surpassed $38,000 and set a new record for 2023, buyer interest in the top altcoins increased. As a result, a cryptocurrency that was already trending higher, like BLUR, saw significant price increases. This increase…
The price of Bitcoin hit a 2023 high, and Coinbase Global (COIN) shares went through the roof. It looked like the crypto exchange had benefited from Binance’s recent legal problems. People have noticed that COIN’s price has been doing well in line with the overall good trend in the crypto space led by Bitcoin. This…
In a dramatic twist, a mere 48 hours after the United States laid out a hefty $4.3 billion settlement proposal with the major player in the crypto market, Binance, Bitcoin price defied expectations by catapulting to a new peak for the year. Breaking the $38,000 barrier in the early stages of the New York trading…
The recent events at cryptocurrency exchange Binance could trigger the next Bitcoin bull run if this pattern continues to form. Will Bitcoin Exchange Reserve Ratio Turn Around After Binance News? As explained by an analyst in a CryptoQuant Quicktake post, the BTC exchange reserve ratio for US versus off-shore platforms has followed a specific pattern…
A Binance critic, “Whale Wire,” on X, who also claims to be a crypto whale, has issued a bold prediction that BNB, the native currency of the BNB Chain and which is used to incentivize trading activity on Binance, could plunge 95% to under $5 in the coming months. Regarding Binance agreeing to pay $4 billion in…
The world’s leading cryptocurrency exchange Binance new Chief Executive Officer (CEO) and former global head of regional markets Richard Teng has recently expressed his confidence in the crypto company’s fundamentals. Binance Fundamentals Shows Strength Amid Challenges, New CEO Earlier today, the new Binance CEO confidently revealed the fundamental strength of the crypto company despite recent…
A new era for the crypto industry approaches as the world’s largest exchange, Binance, changes leadership. Yesterday, the company’s founder and CEO, Changpeng “CZ” Zhao, stepped down as part of an agreement with the US government. The deal might have sparked a new era of adoption and legitimacy for the nascent industry at the cost…