Tag: Binance
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Crypto price predictions: Bitcoin, Cardano, Binance Coin
Crypto prices remained in a consolidation phase this week as concerns about FTX contagion continued. They also reacted to the latest interest rate decision by the Federal Reserve and the arrest of Sam Bankman-Fried. Here are some of the top crypto price predictions for the weekend.
Bitcoin price prediction
Bitcoin pulled back sharply after the latest interest rate decision by the Federal Reserve. This decline correlated with the performance of American indices like the Dow Jones and the Nasdaq 100 indices.
Bitcoin price dropped to a low of $16,923, which was the lowest level since December 12. It also declined below the important level at $17,395, which was the neckline of the inverted head and shoulders pattern.
It has also pulled back below the 25-day and 50-day moving averages while the Relative Strength Index (RSI) has moved below the neutral level of 50. Therefore, Bitcoin price will likely continue falling as contagion fears continue.
If this happens, the next key level to watch will be at $16,000. In the near term, however, a bullish breakout to $18,000 cannot be ruled out as the shakeup eases.
How to buy Bitcoin
eToro
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Bitstamp
Bitstamp is a leading cryptocurrency exchange which offers trading in fiat currencies or popular cryptocurrencies.
Bitstamp is a fully regulated company which offers users an intuitive interface, a high degree of security for your digital assets, excellent customer support and multiple withdrawal methods.
Binance Coin price prediction
Binance Coin price has been in a strong bearish trend in the past few days. It collapsed to the lowest level since November this year. This decline accelerated this week as Bitcoin FUD trended in Twitter and other social media platforms like Reddit. FUD stands for Fear, Uncertainty, and Doubt.
Concerns about Binance continued after the arrest of Sam Bankman-Fried, which we wrote about in this article. Investors are worried about the significant information that we still don’t know about Binance. For one, it is unclear how much money Binance makes and how much debt it has.
Therefore, like Bitcoin, the BNB price will likely continue falling as sellers target the psychological level of $200.
How to buy BNB
eToro
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Binance
Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600.
Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.
Cardano price prediction
Cardano price plunged on Friday as concerns about the hawkish Fed continued. It has also fallen because of the underperformance of its DeFi and NFT ecosystem. NFT volume crashed to just $8 million in November, its lowest level in months.
On the daily chart, Cardano remains below all moving averages. It also crashed below the important support level at $0.300, the lowest level on December 13. The Relative Strength Index has moved to the oversold level. Cardano price will likely continue falling as sellers target the next key support at $0.2500.
How to buy Cardano
eToro
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Bitstamp
Bitstamp is a leading cryptocurrency exchange which offers trading in fiat currencies or popular cryptocurrencies.
Bitstamp is a fully regulated company which offers users an intuitive interface, a high degree of security for your digital assets, excellent customer support and multiple withdrawal methods.
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Toko (TKO/USD) gains 100% on Binance news
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TKO rose by 100% on reports of the acquisition of Tokocrypto by Binance
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The cryptocurrency has slid by 28% since forming a local top at $0.57
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TKO could correct to $0.34
Toko (TKO/USD) token is attracting buyers. With a surge of 100%, it may be too late to buy TKO now. But when an opportune moment comes, you could snap the token, thanks to positive cryptocurrency news.
The gains in TKO come amid reports that Binance is acquiring the Indonesian crypto exchange Tokocrypto. We know that Binance is the world’s biggest crypto exchange. Thus, any approach to acquisition is likely to build optimism. TKO, the native token, reacted to the news, rising sharply from $0.283 to $0.57.
Binance is particularly interested in Tokocrypto since it is locally regulated. It is the first entity to be registered under Indonesia’s Commodities Futures Trading Regulatory Agency. Binance already holds an investment in the Indonesian exchange since 2020.
But the sharp gains in TKO may prove difficult to hold, at least for now. As of press time, TKO traded at $0.42, a decline of 28% from its local high. The trading volume had also fallen sharply and was only up 2.99%. However, to an investor monitoring the positive developments of Tokocrypto with Binance, TKO should remain on the waitlist.
TKO corrects but is yet to find support
Technically, TKO is bullish but faces a correction. From the RSI indicator, a reading of 77 implies that TKO is overbought and a correction is on the horizon.
The support lies at $0.34, giving bears a chance to push the cryptocurrency lower. The level was a breakout zone that was triggered as the price was pumped.
Concluding thoughts
TKO faces further gains if the reports of the acquisition of Tokocrypto get confirmed by Binance. However, currently, investors face a correction.
If you are looking to buy the token, the level to keep an eye on is $0.34. Also, monitor the developments around the token, as positive news can trigger sharp rises before reaching support.
Where to buy TKO
Binance
Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600.
Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.
Wazirx
WazirX is India’s largest crypto exchange. Started in 2018, WazirX has grown to be the most trusted exchange in the Indian crypto market. It is a part of the binance group, serving users in 180 countries.
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How bullish is Ravencoin (RVN/USD) after the Binance news?
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RavenCoin recovered slightly after Binance Pool support
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The cryptocurrency trades in a descending trendline
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RVN could fall further, although technical indicators have slightly improved
Ravencoin (RVN/USD) traded at $0.022 at press time after a slight correction. The cryptocurrency had developed some bullish signs previously, jumping from a low of $0.020 to $0.025. The gains came on the back of positive cryptocurrency news.
According to a November 23 announcement, Binance Pool is supporting RavenCoin. The RavenCoin mining service will use the PPS+ settlement, with the mining pool fees set at 1%. The support comes after September’s Ethereum merge fueled demand for the token. RavenCoin uses the proof-of-work consensus mechanism. Ethereum’s shift to the Proof-of-State consensus mechanism, therefore, fueled the demand for PoW tokens like RVN.
RavenCoin is itself a fork of Bitcoin, a PoW blockchain. The blockchain is a peer-to-peer network that lets users create tokens for any assets. The latest support by Binance Pool raises optimism that RVN could overcome a prolonged drop. But how bullish is the cryptocurrency?
RVN on a descending channel as gains fail to inspire a rally
Despite the recent gains, RVN is yet to overcome a steep descent that has been in place since September. The cryptocurrency trades on a descending trendline. It tested the upper bound of the trendline and is facing some resistance.
The MACD and RSI indicators are, however, positive on RVN. The MACD line crossed above the signal line to suggest a bullish reversal. However, the indicator is still bearish. Similarly, the RSI recovered slightly, but the reading remains below the midpoint.
Should you buy RVN?
RavenCoin’s momentum could last for a while. If buying RVN, you should be aware that further downsides are possible based on the price action.
Where to buy RVN
Binance
Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600.
Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.
Coingate
CoinGate is a Lithuanian-based fintech company founded in 2014. The payment gateway offers cryptocurrency payment processing services for businesses of any sizes. Permission-based account management, fiat payouts to the bank account and brand new email billing feature are just a few reasons why CoinGate has become a go-to payment processor for many.
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Binance unveils its proof of reserves mechanism
- Binance’s proof of reserves system initially shows results for the flagship cryptocurrency Bitcoin.
- The crypto exchange will add other tokens and networks as well as implement ZK-SNARKs.
- Crypto exchanges are looking to show they have the assets they should hold after the shocking collapse of FTX.
Binance has published its proof-of-reserve (PoR) system, days after CEO Changpeng Zhao pledged to have the mechanism in place following the collapse of rival FTX.
The bankruptcy and the contagion that followed crashed the market, with Binance Coin price dropping to lows of $250. Bitcoin price also fell below $16,000, hitting its lowest level since 2020.
In response, multiple exchanges had released a snapshot of their asset reserves. But the crypto community largely noted the snapshot of assets alone wasn’t enough – there was a need to have exchanges’ liabilities also available.
Binance’s proof of reserves showed a 101% ratio
In its update on the issue, Binance has noted its users are now able to verify the exchanges holdings. As for what’s possible now, Binance announced the mechanism will initially support Bitcoin. The exchange will look to add other tokens and networks over the next few weeks.
Binance will also allow for the auditing of its proof of reserves results by third-party auditors and implement ZK-SNARKs to help bolster privacy and robustness.
“Because Binance offers Margin and Loans services, the audit results will show the Net Balance, Equity and Debt of each user, where the Net Balance = Equity – Debt,” the Binance team wrote.
A snapshot taken on 22 November 2022 at 23:59 (UTC) shows Binance’s on-chain Bitcoin balances stood at 582,485.9302, while customer net balance was 575,742.4228. The reserve ratio from the snapshot was 101%, with the margin at 6,743 BTC.
Binance customers can verify whether the exchange holds their crypto as it should.
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How Will Binance Coin, Shiba Inu, and Rocketize Help You Grow Your Portfolio?
With the on-going trade in the crypto market, it’ll be interesting to watch cryptocurrencies like Bianace coin, Shiba Inu and Rocketize and their asset value. -
Shiba Inu lags behind while ETH, BTC, ADA take front stage on Binance
Over the last couple of months, the prominent meme coin Shiba Inu ($SHIB) was seen dominating the entire crypto industry. However, the fervor around this community-driven project seemed to be simmering down. Despite the launch of its recent collectible card game, the altcoin barely garnered any gains. It seems like Binance users weren’t too curious about the meme coin either, as it failed to bag a spot on its top 10 trending search list.As per recent data curated by Crypto Differ, Shiba Inu stood in the 14th spot on Binance’s trending searches. This was quite surprising to many considering the usual zeal around the network.
Source In the above chart, Binance Coin ($BNB) emerged as the most popular asset on the exchange. The world’s second-largest crypto, Ethereum ($ETH), stood second on this chart as well. This is mostly due to the increased liquidations that occurred throughout the day. It should be noted that a whopping $4.95 million in ETH liquidations took place over the last four hours.
Bitcoin, the world’s largest cryptocurrency by market capitalization, was ranked third, followed by Cardano ($ADA) and Solana ($SOL).
Other popular tokens like Luna Classic ($LUNC) and fundamental meme crypto Dogecoin ($DOGE), were also a part of the list.
Shiba Inu gains pocketed over the last couple of hours
While Shiba Inu’s popularity took a back seat, the asset’s price wasn’t faring too well either. At press time, most crypto assets were seen pocketing significant gains. Shiba Inu, however, limited its 24-hour price surge to 4.60%.
At press time, Shiba Inu was trading for $0.00001042. Earlier today, the altcoin managed to surge to a high of $0.0000107 from a low of $0.00001001.
Source It should be noted that the asset’s latest surge pulled SHIB out of its weekly stagnancy. Despite this, Shiba Inu continues to trade about 88% below its all-time high of $0.00008845, which it achieved exactly a year ago.
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Bitcoin, Binance Coin, Polygon, and Shiba Inu Daily Price Analyses – 22 October Morning Prediction
The global crypto market has continued to grow in value due to the influx of capital. The recent hours have seen a speedy growth in value, which has strengthened the emaciated coins. The value of Bitcoin, Binance Coin, and others will likely increase if the current trend continues. The last few months have proved trying for the market as the situation has worsened instead of improvement. There have been sparse moments of respite but no definitive positive change.Spain has overtaken El Salvador to become the third-largest crypto ATM hub. Spain currently hosts 215 crypto ATMs, pushing El Salvador, which is home to 212 ATMs. While US and Canada are the top two countries with crypto ATMs. The ongoing changes have pushed El Salvador to the fourth position. Data from CoinATMRadar confirms that Spain represents 0.6% of the global crypto ATM installations.
Moreover, this data shows that Spain contributes 14.65% to Europe’s crypto ATM installations. Spain is followed by Switzerland, Poland, and Romania. The mentioned country installed 43 crypto ATMs in 2022. While it has plans to complete the installation of 100 ATMs by the end of the year. Thus, the total number of ATMs completed will reach 300.
Here is a brief overview of the current market situation analyzing the performance of Bitcoin, Binance Coin, and others.
BTC continues to grow
As whales have aggressively accumulated Bitcoin, $1 billion worth of BTC has left Coinbase in a day. Despite the slowdown in the market, resilience has been noticed for Bitcoin. The fundaments seem to be bringing Bitcoin to highs as the demand grows.
Source: TradingView The recent changes for Bitcoin show a continuation of the positive trend. The latest data shows that it has added 1.07% over the last 24 hours. The seven-day data for Bitcoin shows an addition of 0.17%.
The continuation of gains has brought BTC’s price value to the $19,189.67 range. The market cap value for Bitcoin is estimated to be $368,178,487,675. The 24-hour trading volume of Bitcoin is about $28,659,590,616.
BNB stays bullish
Quant has got listed in Binance futures as its price resets to $170. As it has been placed in Binance futures, there have been hopes for enhancement in its value. Though the price of this coin was rejected by the high of $220, it is still above the key support area.
Source: TradingView The recent changes for Binance Coin show strength in its value. The latest data shows that it has added 1.22% over the last day. The seven-day data shows that it has shed 0.29%.
The price value for BNB is currently in the $270.01 range. The market cap value for this coin is estimated to be $43,195,922,000. The 24-hour trading volume of this coin is about $509,928,449.
MATIC continues forward-march
The performance of Polygon has also shown a positive trend. The latest data shows that it has added 4.61% over the last 24 hours. The weekly performance of this coin shows an addition of 3.61%. The price value for MATIC is currently in the $0.8256 range.
Source: TradingView The market cap value for Polygon is estimated to be $7,218,796,717. The 24-hour trading volume of this coin is about $356,182,684. The same amount in its native currency is about 430,960,001 MATIC.
SHIB vigorous
The value of Shiba Inu has also increased due to the bullish market. The latest data shows that it has added 2.71% over the last day. According to its weekly performance, there has been a decline of 1.74%. The price value for SHIB is currently in the $0.00001003 range.
Source: TradingView The market cap value for Shiba Inu is estimated to be $5,505,243,502. The 24-hour trading volume of this coin is about $139,569,693. The circulating supply of this coin is about 549,063,278,876,302 SHIB.
Final Thoughts
The global crypto market has seen a positive trend over recent hours. The latest data shows that Bitcoin, Binance Coin, and others continued to grow. As the market has retained gains, there has been a strength seen in its value. The global market cap value has also enhanced. The latest data shows that it is estimated to be $921.46 billion.
Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
