Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

As Bitcoin boosts top altcoins, SOL and BNB users anticipate price rebounds, while Milei Moneda’s presale and upcoming defi projects shine brightly.

Finally, the altcoin rush might take hold after Bitcoin has given the top altcoins some boost these past few days. Seemingly overnight, SOL and BNB users can hope for an altcoin price rebound soon, as Solana (SOL) and Binance Coin (BNB) are some ways up on trading charts.

However, the projected returns for Milei Moneda (MEDA) this year are notably promising, given its involvement in several significant defi projects in the crypto space.

You might also like: Potential surge for LTC, SOL, and Milei Moneda amid market recovery

Solana records another spike in its altcoin price

Solana’s main selling point before its meme coins came along was the speed and low gas fees on the SOL network. Users trooped to Solana for safe, fast, and cheap transactions, and the ecosystem never failed.

Throw in Solana’s defi involvements, from exchanges to dApps, and you might figure out why SOL is named among the top 10 altcoins in the market. In the past week, transactions on Solana have exceeded those of any other L1 and L2 network.

A bull run was already on the way for SOL, and the boost from Bitcoin was simply a catalyst. SOL is already 5% up from its support, and bulls are chasing a 10% rise in the next few days.

You might also like: Arbitrum and Cardano show decline while investors look to Milei Moneda 

Binance Coin on a run as Dubai license expands operations

The full regulatory license from Dubai seems to have given Binance Coin the needed nudge for a run following Bitcoin’s halving. Already, Binance has come under fire from several regulatory bodies in the past six months, a development that has affected BNB and its value in the market.

However, the licensing from Dubai is only a tailwind development in the recent Binance Coin spike. The main credit is to the Bitcoin spike, which put BNB and some of the best altcoins in prime spots for spikes. Solana and Avalanche joined Binance Coin as top gainers for the week, and BNB looks to build on that soon.

The future is not very clear, but if the market metrics for BNB all fall in place, we could have a 20% pump from Binance Coin.

You might also like: Experts eye Milei Moneda presale amid anticipated SOL, BNB surge 

A future for MEDA and a standard for the meme sector

Milei Moneda has been the lone beam in the dark for meme coins these past few weeks, as they all went silent after Bitcoin’s massive pullback. The reactionary nature of meme coins often makes them poor investment choices, but MEDA is here to change that.

With Milei Moneda, users can obtain continued profits in the long term. Apparently, Milei Moneda won’t be going the meme coin path as others have. MEDA’s ecosystem is going to host top defi projects to compete with even the best defi coins.

Investors considering long-term positions or short-term engagement with MEDA will find that Milei Moneda offers opportunities for both. The journey begins with the presale, accommodating both short and long-term investment strategies.

MEDA has shown its affinity for growth, as it has spiked by 25% from its opening price. The presale is now in Stage 2, and Milei Moneda coins sell for $0.0125 each, with a potential for 60% returns by May 21, 2024.

To learn more, visit the Milei Moneda website or reach out on Telegram.

Read more: NEAR, XRP fans enjoy gains amid growing attention for Milei Moneda

Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.

A newly introduced bill in the United States Senate aims to reshape the landscape of the stablecoin market by potentially paving the way for U.S. banks to issue U.S. dollar-pegged stablecoins.

The Payment Stablecoin Act, introduced on April 17, has drawn attention from financial institutions and market watchers alike.

S&P Global Ratings, in a research note on April 23, suggested that the bill could provide an impetus for banks to engage more actively in the stablecoin sector. This involvement could come at the expense of prominent non-U.S. stablecoin issuers like Tether, which currently holds a market cap of $110 billion.

The bill proposes a cap of $10 billion on issuance by non-bank stablecoin firms and prohibits the issuance of “unbacked” algorithmic stablecoins. Furthermore, it mandates that stablecoin issuers maintain one-to-one cash or cash-equivalent reserves.

According to S&P Global Ratings, should the bill pass and subsequent banking regulations be adapted, banks could gain a competitive edge. Institutions lacking a banking license would be restricted to issuing no more than $10 billion in stablecoins, potentially limiting the operations of large entities such as Tether.

You might also like: Tether to restructure, expand beyond stablecoin sector

Tether, recognized as the leading stablecoin by volume, is issued by a non-U.S. entity and would not comply with the stipulations of the proposed Payment Stablecoin Act. The non-compliance would prevent U.S. entities from holding or transacting in Tether, likely decreasing its demand while favoring stablecoins issued within the U.S.

S&P pointed out that Tether’s transactions mostly took place outside of the U.S. and were mostly fueled by retail, remittances, and transactions in emerging economies.

In introducing the bill last week, Democratic Senator Kirsten Gillibrand declared that enacting a stablecoin regulatory framework was “absolutely critical to maintaining the U.S. dollar’s dominance, promoting responsible innovation, protecting consumers, and cracking down on money laundering and illicit finance.”

However, not everyone was delighted with the bill’s proposed changes.

Coin Center, a crypto advocacy organization, expressed reservations over the law, stating that it would be “bad policy” to ban algorithmic stablecoins and that it was an unconstitutional act protected by the First Amendment.

Read more: BRICS weighs in on using stablecoins in settlements, Russian official says

BlackRock iShares Bitcoin Trust (IBIT) has seen its first day of $0 inflows since Bitcoin ETFs were launched in the United States in January.

Since its start on Jan 11, IBIT has continuously drawn millions of dollars in daily investments, totaling approximately $15.5 billion in just 71 days. However, BlackRock’s inflow run ended on April 24, when it recorded $0 inflows.

Bitcoin ETF Flow (US$ million) – 2024-04-24TOTAL NET FLOW: -120.6(Provisional data)IBIT: 0FBTC: 5.6BITB: 0ARKB: 4.2BTCO: 0EZBC: 0BRRR: 0HODL: 0BTCW: 0GBTC: -130.4DEFI: 0For all the data & disclaimers visit:https://t.co/4ISlrCgZdk

— Farside Investors (@FarsideUK) April 25, 2024

Most other Bitcoin ETF participants experienced a dry spell as well. Out of the 11 Bitcoin ETFs registered in the U.S., only Fidelity Wise Origin Bitcoin Fund (FBTC) and ARK 21Shares Bitcoin ETF (ARKB) saw inflows of $5.6 million and $4.2 million, respectively.

Meanwhile, the Grayscale Bitcoin Trust ETF (GBTC) continued to suffer losses. On April 24, GBTC reported $130.4 million in outflows, bringing the net outflows for spot Bitcoin ETFs to $120.6 million for the day.

Although IBIT has never experienced a dearth of inflows previously, something similar has transpired frequently among ETF participants. Fidelity’s FBTC, for example, has seen three days of $0 inflows in the last two weeks.

To date, the Bitcoin ETF market in the U.S. has collected a net of $12.3 billion in Bitcoin. However, GBTC outflows have countered some of the inflows recorded by the remaining ten Bitcoin ETFs. As of Jan. 11, outflows from GBTC have surpassed $17 billion.

Earlier, on April 24, Eric Balchunas, Bloomberg Intelligence ETF analyst, took to X to commend the 71-day streak of continuous inflows to the IBIT ETF.

The fund has surpassed the Global Jets ETF, as well as Vanguard’s bond market ETF and developed-markets ETF, which Balchunas referred to as “one-hit wonders” and “cash vacuum cleaners.”

The streak places BlackRock’s Bitcoin ETF among the top ten funds of all time by yet another metric. However, Balchunas stated that there is “a lot of mountain still left to climb” to reach the top rank.

You might also like: Capital inflows into spot Bitcoin ETFs total $31m

JPMorgan’s Equity Premium Income ETF had the longest inflow streak of any ETF, lasting 160 days. With $18.27 billion in assets, BlackRock’s Bitcoin fund ranks in the top 3% of all ETFs ever created.

The success of the ETF can be ascribed to institutions gradually increasing their exposure to Bitcoin. Bitcoin is not a significant part of these companies’ strategies. Instead, Balchunas described it as “hot sauce” on top of larger portfolios.

“Shows that most of the bites are nibbles but there are a lot of fish,” he said.

However, not all of BlackRock’s cryptocurrency efforts have met with immediate success. BlackRock’s tokenized fund, BUIDL, which debuted on the Ethereum blockchain on March 20, has attracted only a few investors thus far.

Despite the fact that BUIDL increased by 200% in just a few weeks, on-chain data shows that the majority of the fund’s assets are spread over 11 wallets.

Read more: Can Hong Kong’s spot Bitcoin ETFs boost BTC price?

The NFT lending market hit a record $2.13 billion in Q1, up 43.6% quarter-over-quarter, with five of six top platforms seeing increased volumes.

The lending market of non-fungible tokens (NFTs) has witnessed its leaders solidifying their positions, with the total NFT lending volume surging to a quarterly high of $2.13 billion in Q1, representing a 43.6% quarter-over-quarter growth, according to data published by CoinGecko.

Top NFT lending markets by their volume | Source: CoinGecko

The data shows that January witnessed a record-breaking $0.90 billion in total monthly NFT lending volume, surpassing the previous peak of $0.85 billion in June 2023. Among the top gainers, Blend emerged as the leader, capturing a staggering 92.9% share of the market with a monthly lending volume of $562.33 million in March alone.

“Despite Ethereum NFT collections dominating NFT loan originations, the potential impact of the rising popularity of Bitcoin Ordinals on the NFT lending market remains an area of interest.”

CoinGecko

You might also like: Blur’s Blend protocol facilitates nearly 170,000 ETH loans in 22 days

Other players in the NFT lending arena, such as Arcade and NFTfi, have also witnessed growth, although they represent significantly lower market share capturing 2.8% ($16.94 million in volume) and 2.2% ($13.3 million in volume) respectively. Further down the hierarchy, X2Y2, BendDAO, and Parallel Finance (formerly ParaX) hold smaller market shares of 0.8%, 0.8%, and 0.5%, respectively.

To encourage more user engagement, NFT lending platforms are rolling out new incentives to boost trading volumes. For instance, in late February, Pantera Capital-backed Arcade unveiled its “Clash of Clans” airdrop initiative, aiming to distribute ARCD tokens among 4,000 wallets, each eligible to claim 750 ARCD tokens. Similarly, other marketplaces like X2Y2 and BendDAO have also launched their own tokens for their community members.

Read more: Binance enters the NFT lending market with loan service

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

As Shiba Inu anticipates bullish trends from a favorable monthly cross, Borroe Finance captivates investors with its presale as a strong Injective rival in the web3 space.

Thanks to memetic market sentiment, Shiba Inu (SHIB) continues to be a force to be reckoned with in the meme coin sector because of significant strides, as it eyes heightened bullish momentum.

Meanwhile, Borroe Finance (ROE) is showcasing itself as a fierce Injective rival, given that it intends to elevate web3 to unprecedented heights through its AI-powered and NFT-driven marketplace.

You might also like: As Shiba Inu and Avalanche falter, investors turn to Borroe Finance 

Borroe Finance’s presale run

Borroe Finance has emerged as one of the viral token launches thanks to its impressive presale journey, which has seen more than $3.92 million raised, with at least 295 million ROE tokens purchased.

ROE serves as Borroe Finance’s governance token that enables users to enjoy premium features like advanced analytics, rewards and incentives, and staking rights. The network presents a unique use case in the web3 sector whereby it enables participants to raise instant working capital by using their future earnings as collateral.

This process is so seamless to the extent that these pending payments are generated as non-fungible tokens (NFTs) for a smooth trading experience, making Borroe Finance one of the notable new defi projects. Upon the sale of these NFTs, web3 players get immediate cash to undertake their projects, showcasing Borroe Finance as one of the most promising coins.

You might also like: SOL, DOGE show modest gains as Borroe Finance steals the spotlight 

Borroe Finance deploys deflationary tokenomics

Based on the token burn strategies incorporated, Borroe Finance enjoys deflationary tokenomics because ROE’s circulating supply is continuously reduced, and this paints a bullish picture. Therefore, ROE is standing out to be one of the leading cryptos to invest in since its value is speculated to continue increasing thanks to slashed supply and soaring demand.

Borroe Finance also incorporates unique approaches since it makes liquidity lock mechanisms a reality, given that users are able to stake their ROE tokens.

Given that Borroe Finance’s long-term objective is onboarding more web3 players by eradicating liquidity challenges, investors are continuously jumping on its bandwagon. As a result, retail and institutional investors are pumping significant capital inflows into the Borroe Finance ecosystem.

At the final presale stage, ROE is selling for $0.02, representing a 100% profit from the beta stage where each token was retailing at $0.01.

You might also like: Experts: Borroe Finance’s hyped presale could pave the way for huge gains

Shiba Inu eyes an uptrend

According to top analyst Kevin, SHIB is witnessing a bullish monthly cross on the monthly AZO momentum indicator for the first time in its history, which might propel the meme coin to greater heights.

The analyst added, “After seeing a 600% move to the upside and a initial rejection at the macro Golden Fib pocket Shiba Inu is now seeing a much needed correction back to bull market retracement levels like the 0.5 FIB retrace and the bull market support band (20W SMA – 21W EMA).”

Based on this analysis, Shiba Inu is eyeing positive momentum as the altcoin continues to be one of the prominent community-driven meme coins.

SHIB was up by 16.6% in the past week to hit $0.000027 at the time of writing, according to CoinGecko data. Therefore, time will tell how Shiba Inu shapes up in the short term.

To learn more about Borroe Finance, visit Borroe Finance Presale, join the Telegram group, or follow Borroe Finance on Twitter.

Read more: Excitement builds for Ripple’s stablecoin, LTC gain, and Borroe Finance

Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.

Although transactions surged and fees hit records following the RUNES protocol launch, miners could still struggle with lower fees and steady hashrate after the halving, analysts say.

Despite the recent halving event, which saw the block reward drop from 6.25 BTC to 3.125 BTC, Bitcoin miners are still experiencing heightened daily revenue thanks to a spike in transaction fees, according to a recent analysis by CryptoQuant.

Bitcoin network hashrate | Source: CryptoQuant

The analysts emphasized that transaction fees in the Bitcoin network increased to record-highs relative to the total miner revenue right on halving day, suggesting that miners “seem to be running operations at the same rate as before the halving.” CryptoQuant noted that despite the network’s upgrade, the total network hashrate has “remained flat to slightly higher at a rate of 617 EH/s.”

“Although it is still too early to see any long-term effects of the halving on the network hashrate, miners seem to be running operations at the same rate as before the halving.”

CryptoQuant

You might also like: Bitwise CIO: Bitcoin halving is ‘buy the news’ event

The analysts attributed the increase in fees to the launch of the RUNES protocol, a fungible token standard on the Bitcoin network, which allows the issuance and transfer of fungible tokens by storing data in OP RETURN codes.

Bitcoin’s fourth halving event, which occurred on Apr. 20, has sparked significant interest, particularly in its comparison to gold in terms of scarcity. Analysts at Glassnode note that the latest halving marked a historic moment where BTC issuance rates fell below those of gold for the first time, signaling a significant shift in the narrative surrounding the two assets. The next Bitcoin halving is anticipated around April 2028.

Read more: Altcoin season approaching? Insights from experts amid Bitcoin’s halving aftermath

The global cryptocurrency market witnessed a notable decline while data from Santiment shows that the majority of the tokens are in the opportunity zone.

According to data from CoinGecko, the global crypto market cap plunged by 4.1% in the past 24 hours and is currently hovering at $2.49 trillion. The total daily trading volume, however, increased by 16%, reaching $99.1 billion.

Global crypto market cap | Source: CoinGecko

The increased trading volume usually brings higher volatility to the market.

Moreover, the leading cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH), dropped by 3.5% and 2.6%, respectively. 

BTC is trading at $64,250 and ETH is hovering around $3,150 at the time of writing. 

You might also like: DOJ arrests Samourai Wallet founder over $2b illegal money flow

It’s important to note that the Bitcoin ETFs registered an outflow of $120.6 million over the past day, per data from Farside Investors. The BlackRock IBIT Bitcoin ETF recorded a zero inflow day for the first time since ETFs launched in the U.S.

Furthermore, the Grayscale Bitcoin Trust (GBTC) saw a net outflow of $130.4 million on April 24. This movement, again, might be one of the main reasons behind the market-wide bearish sentiment.

On the other hand, data from Santiment shows that more than 85% of the assets listed on the platform are roaming in the opportunity zone.

👍 According to our model, the mid-term gains and losses by average wallets indicate heavy realized losses across most #altcoins. Over 85% of assets we track are in a historic opportunity zone when calculating the market value to realized value (MVRV) of wallets' collective… pic.twitter.com/NogkCSH5PG

— Santiment (@santimentfeed) April 25, 2024

The market value to realized value (MVRV) ratio of the assets over one-month, three-month and six-month cycles has triggered a buy signal, the market intelligence platform shared in an X post. 

However, “there is growing fear seeping in from the crowd after all of these market cap dips,“ while Santiment adds that “buy the dip” have skyrocketed on social media platforms — dominating 35.97% of the total crypto conversations. 

Social volume for “buy the dip” | Source: Santiment

Most of the social activity comes from Reddit and X while Telegram and Bitcointalk have a smaller share, per Santiment.

Read more: Capital inflows into spot Bitcoin ETFs total $31m

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Post-Bitcoin halving, investors watch Shiba Inu and Solana, as Rebel Satoshi Arcade gains traction with its GameFi and NFT blend, promising significant growth.

After a four-year wait, the highly anticipated Bitcoin (BTC) halving is finally here. Solana (SOL) and Shiba Inu (SHIB), two top altcoins, have promising outlooks, positioning them as altcoins to watch post-BTC halving.

At the same time, a new GameFi memecoin, Rebel Satoshi Arcade (RECQ), has been stirring up quite a buzz behind the scenes. In its early stages, it has been having a remarkable run in presale, favored by investors.

You might also like: Market dips while Rebel Satoshi’s RBLZ token surges with new opportunities

Rebel Satoshi Arcade primed for growth

Rebel Satoshi Arcade (RECQ) is an altcoin to watch for several reasons. For one, its launch will be during bullish market conditions, placing it on an adoption path. In the first stage of the ICO, a token costs $0.0037, with analysts predicting a 65x upswing after its market debut.

Beyond the profits, it aims to reshape the overall crypto landscape by focusing on decentralization and individual empowerment, with an air of defiance. While combining memetic features, it will function as a utility and transactional token within the ecosystem.

At its core will be action-packed arcade games, including play-to-earn (P2E), free-to-play (F2P), and pay-to-play (P2P) games. The icing on the cake will be its blend of NFTs and merch. As the ecosystem’s utility token, it will be used to buy digital collectibles and merchandise, pay fees, access arcade games, and reward users.

You might also like: Solana and Cardano dip as Rebel Satoshi’s presale excites market

Solana shows bullish outlook

Solana, one of the best altcoins, is among the most compelling tokens to hold in the crypto market. Time and time again, it has shown why it is a good crypto to buy. In the first quarter of the year, it blasted past $200, a hair’s breadth away from its all-time high (ATH).

While there has been a slight decline from its March high—the wider crypto market downturn being the reason—Solana is expected to pick up steam post-BTC halving. Analysts predict a price discovery in the coming weeks and a rise to $500—a new peak—before the year comes to an end.

Bearing the above in mind, Solana is more than just one of the altcoins to watch; it is among the best cryptos to invest in. With massive gains up for grabs, it is a compelling altcoin not to miss out on.

You might also like: SOL, AVAX remain on downtrends as investors flock to Rebel Satoshi presale

Shiba Inu set for explosive growth

Shiba Inu is among the top meme coins, trailing behind only Dogecoin (DOGE) in market size. The Ethereum-based memecoin is one of the best coins to invest in for good reasons. Its vibrant community and rich ecosystem place it on a bullish path, positioning it as a must-have crypto.

While it boasts memetic appeal, the ecosystem featuring utility-backed projects makes it more than just a meme. Projects like ShibaSwap, a leading DEX, and Shibarium, a Layer 2 scaling solution, make Shiba Inu more appealing to investors. It also positions it for significant growth, making it one of the best cryptos to buy now.

Set to skyrocket post-Bitcoin halving, Shiba Inu is a bullish wave to take advantage of. Its low price—a budget-friendly coin—further endears it to investors, especially retailers. You don’t even have to break the bank to position for substantial gains.

Conclusion

Solana and Shiba Inu are some of the most promising altcoins to watch post-BTC halving. Meanwhile, Rebel Satoshi Arcade is on a bullish path, set to skyrocket after its market debut.

To learn more, visit the Rebel Satoshi website or contact Rebel Red via Telegram.

Read more: Filecoin and Injective face losses as Rebel Satoshi’s RECQ rises

Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Following the recent Bitcoin halving, DeeStream’s presale attracts heightened attention from Avalanche and Ripple investors.

One major event in the crypto ecosystem that has fueled investors’ movement is the Bitcoin halving in mid-April, which has been anticipated since the last one, four years ago. Unlike in the past when Bitcoin surged to an all-time high after halving, this time around, Bitcoin surged to an all-time high before halving.

A week after halving, the DeeStream presale has seen increased investment with growing interest from Avalanche and Ripple investors.

You might also like: Dogecoin, TRON, whales join DeeStream’s presale frenzy for potentially big returns

Avalanche drops below $40

Avalanche is not spared in the market sentiment that has seen its price decline to $39.01. Like most altcoins, Avalanche is showing weakness following the fourth Bitcoin halving. The highly anticipated event, which has inspired mixed market sentiment, has seen capital spill over into other cryptocurrencies, including Avalanche.

In the past month, Avalanche has declined by 26.3% from about $47 to $39. The fall from the $40 resistance level signifies that Avalanche may fall lower.

On the other hand, Avalanche surged in the past week by 6.7%, moving near $40. At a price value of $39.2, a significant market movement can shoot Avalanche back above $40, which could usher in a rebound.  

You might also like: USDC and Polkadot investors gear up for DeeStream milestone

Ripple reacts to Bitcoin halving

There is a stark difference between the crypto market of mid-March and mid-April 2024. For instance, in the second week of March, Ripple was among the tokens that recorded a massive surge in the crypto market. Analysts revealed that Ripple holders recorded a profit of $368.79 million as the token surged from $0.4 to $0.62.

However, Ripple has declined by 13% in the past month and is now valued at $0.54. Analysts attribute this sharp decline to price correction and market sentiment. Despite this decline, the Bollinger Bands indicator shows that Ripple is witnessing the tightest contraction ever.

This band contraction is similar to the one recorded in 2020, the previous Bitcoin halving year. In response to the decline, Ripple holders are optimistic about DeeStream streaming features and diverting their assets.

You might also like: DeeStream presale sparks interest among ICON & Cardano traders as Ether struggles

DeeStream gains investor attention 

From presale stage one, DeeStream has stood out due to its exciting features and functions, thereby growing optimism among investors. With the simple signup process that gives instant streaming access and the quick payout feature where streamers can instantly withdraw their earnings, DeeStream has pioneered change in streaming.

DeeStream presale investors are optimistic about the swap service, allowing them to exchange different tokens instantly without charges or commissions. Users can withdraw their earnings in DST or swap them with other tokens.

Interestingly, streaming and transaction history on DeeStream are secured and free from third-party access. Unlike other traditional streaming platforms that fetch history and send targeted ads, DeeStream is secured and does not give unauthorized access to users’ history.

Similarly, DeeStream is a highly transparent blockchain protocol where users can trace their transaction history and records, thereby making the marketplace a more honest, stable, and trustworthy platform for any amount of trading.

To learn more about DeeStream, visit the DeeStream website.

Read more: DeeStream secures 3,300+ investors, attracts UNI, ATOM fans

Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Amid BCH’s downturn and ALGO’s withdrawal, Koala Coin’s presale excels, promising secure and whimsical investment opportunities.

While Bitcoin Cash (BCH) navigates a downturn and Algorand (ALGO) seems to recede into the shadows, Koala Coin (KLC) shines in its Stage one presale with a price of $0.014. Leveraging avant-garde blockchain technology to ensure transactions are both secure and fluid, Koala Coin (KLC) is pioneering an investment landscape where the financial world dances with the whimsical universe of memes.

You might also like: Koala Coin pushes through market shifts with Aptos amid Bitcoin surge 

Delight and economic empowerment merge in Koala Coin

Koala Coin is characterized by its emphasis on community and enjoyment, bringing a sense of friendship and happiness to each transaction. Ownership of Koala Coin extends beyond merely holding a digital asset; it represents a connection to a global community that values humor and seeks financial autonomy.

The community aspect is reinforced by offering rewards for staking and active participation in governance, positioning Koala Coin not just as an investment, but as a contributor to a shared sense of well-being and prosperity. As the digital currency landscape evolves, Koala Coin sets itself apart by integrating practical utility with genuine enjoyment, offering a stable and enjoyable investment option in the dynamic world of cryptocurrency.

You might also like: Koala Coin rises alongside Bitcoin Cash and Injective Protocol

The case of Bitcoin Cash 

Introduced as a remedy to the scalability issues of Bitcoin, Bitcoin Cash was conceived to enable quicker and more cost-efficient transactions by increasing block size for higher transaction capacity. This ambition set Bitcoin Cash apart following its split from Bitcoin in 2017.

Despite these grand aspirations, the recent market performance of Bitcoin Cash tells a tale of struggle. Its current valuation at $611.99 comes after a notable -11.94% dip over the past week. However, the monthly trajectory of Bitcoin Cash boasts a 40.22% increase, presenting an intriguing narrative of volatility but with a silver lining. This offers glimpses into a potentially lucrative venture, as contrasted with emerging entities like Koala Coin.

You might also like: Koala Coin stands resolute as Aptos falters and Injective climbs

ALGO becomes silent pioneer in the crypto evolution

Algorand gained recognition for its groundbreaking consensus algorithm, which ensures immediate transaction finality and a scalable, efficient blockchain framework. Designed to expedite transactions while minimizing costs, Algorand positions itself as a foundational player in the burgeoning universe of financial applications and decentralized platforms. 

However, recent metrics reveal a subdued performance from Algorand. Its price currently stands at $0.23, reflecting a -1.21% change over the week and a significant -25.32% downturn over the past month. This decline sharply contrasts with the rising prominence of Koala Coin, highlighting the unpredictable nature of the cryptocurrency market.

You might also like: NEAR and SHIB rally inspires a new interest in Koala Coin

Conclusion

In a market where Bitcoin Cash is struggling and Algorand is fading, Koala Coin stands out as a notable option for those seeking both engagement and financial growth. This period represents a unique opportunity in the digital currency landscape to explore what Koala Coin offers. Joining now allows individuals to become part of an early adopter community, poised for potential financial benefits and meaningful connections.

To learn more about Koala Coin, visit the website.

Read more: As TRON stabilizes, Polygon and Koala Coin surge forward 

Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.

BitcoinOS released its whitepaper presenting innovative solutions addressing Bitcoin’s scalability and smart contract limitations.

The innovations include BitSNARK technology and Grail Rollup Bridges, facilitating seamless communication and asset movement between Bitcoin (BTC) and other blockchains.

Though not explicitly mentioned in the whitepaper, CASTL is a shared infrastructure concept that ensures the security and interoperability of these projects within the Bitcoin ecosystem.

Unlike alternative approaches that create separate sidechains for defi on Bitcoin, BitcoinOS focuses on leveraging Bitcoin’s inherent capabilities for complex transactions and defi applications directly secured by the Bitcoin network.

The whitepaper aims to assist in reaching Bitcoin’s potential by enabling advanced functionalities like privacy-preserving transactions and smart contracts directly on Bitcoin through rollups.

You might also like: Bitcoin-centric app Strike enters Europe

Consolidating functionalities eliminates the need for separate chains and tokens, positioning Bitcoin as a central hub for various crypto activities.

Moreover, BitcoinOS aims to future-proof technology by enabling zero-knowledge proofs and rollups directly on Bitcoin.

The whitepaper notes that “we are witnessing a move away from fragmented, experimental chains towards consolidation and rebundling,” with Bitcoin poised to become the dominant platform for crypto activities.

Essentially, the BitcoinOS whitepaper represents a notable shift towards Bitcoin reclaiming its central role in the cryptocurrency realm. It intends to consolidate diverse capabilities from various chains into Bitcoin, potentially positioning it as a versatile platform for various crypto activities.

BitcoinOS originates from the Sovryn defi community, benefiting from the experience and foresight cultivated within Sovryn. Sovryn has received support from investors like Galaxy Digital and General Catalyst, raising over $24 million.

Read more: Glassnode: Bitcoin’s issuance rate sinks lower than gold’s after fourth halving

Chainlink’s Cross-Chain Interoperability Protocol has transitioned into general availability, marking a step forward in enhancing cross-chain connectivity.

The protocol enables developers to conduct cross-chain token transfers and smart contract messaging across diverse blockchain networks. Additionally, it allows for function calls on smart contracts deployed across different blockchains, enhancing cross-chain smart contract interoperability.

According to Sergey Nazarov, co-founder of Chainlink, the general availability of the Cross-Chain Interoperability Protocol’s (CCIP) mainnet will streamline developers’ implementation, thereby strengthening cross-chain connectivity.

“CCIP is now starting to become the standard for both capital markets blockchain transactions across banks, as well as the way that secure Web3 cross-chain value and data is moved across public chains,” Nazarov said.

Cross-chain bridges play a crucial role in facilitating transactions between distinct blockchain networks and present significant vulnerability points in the crypto landscape. Chainlink (LINK) stands as one of the prominent entities addressing the issue of cross-chain interoperability, which remains a pressing challenge within the industry.

You might also like: Capital inflows into spot Bitcoin ETFs total $31m

Recently, Chainlink introduced Transporter, a cross-chain messaging application that simplifies cross-chain crypto transfers through an intuitive user interface. Transporter utilizes CCIP, hailed as the sole cross-chain protocol to attain level-5 security, according to a representative from Chainlink.

Chainlink CCIP has officially entered general availability. Now, all developers can integrate #CCIP across all supported blockchain mainnets in a faster, easier, and more self-serve manner than ever before.https://t.co/VBQEBQViye pic.twitter.com/pgg4q2X7GW

— Chainlink (@chainlink) April 24, 2024

CCIP operates on nine blockchains, including Arbitrum, Avalanche, Base, BNB Chain, Ethereum, Kroma, Optimism, Polygon, and WEMIX, with plans for further network integration. The protocol aims to assist financial institutions in leveraging the potential of tokenized assets, offering improved liquidity access for cross-chain assets.

According to the blog from Chainlink, CCIP is an integral component of the broader Chainlink platform, which allows financial institutions to access tokenized assets by addressing their requirements related to data management, cross-chain operations, regulatory compliance, and synchronization.

Read more: Uniswap down 17% as whales sell off, Hedera & Chainlink rival on the rise

Samourai Wallet founders Keonne Rodriguez and William Lonergan Hill have been arrested by U.S. authorities for laundering over $100 million.

According to an April 24 press statement from the U.S. Department of Justice, federal prosecutors have indicted Rodriguez and Hill with conspiracy to commit money laundering and conspiracy to operate an unlicensed money transmitter via crypto-mixing platform Samourai. 

Per the notice, Rodriguez was arrested on U.S. soil, while Hill was apprehended in Portugal and will be extradited to face trial. If convicted, Rodriguez faces a sentence of up to 20 years and Hill up to five years.

Samourai’s Wallet website, hosted in Iceland, was also seized, and the Google Play Store was petitioned to offboard the application. 

Samourai Wallet website seized | Source: U.S. DOJ

You might also like: Unveiling the shadows: FinCEN’s crackdown on crypto mixers

Authorities allege that the pair allowed more than $2 billion in unlawful transactions through the protocol, pocketing over $4.5 million in processing fees since 2015. The DOJ said Samourai’s creators marketed the platform as “focused on censorship resistance and black/grey circular economy,” offering bad actors a haven to operate clandestine activities. 

Private messages and social media posts attributed to Hill were cited as evidence to support the argument that Samourai knew criminals leveraged the tool and even encouraged it in some cases. 

The arrests are a continuation of an ongoing crackdown on crypto mixers believed to be used by threat actors like North Korea’s Lazarus to evade oversight and undermine law enforcement. 

Last month, federal prosecutors won a case against Bitcoin Fog founder Roman Sterlingov for facilitating over $400 million in illegal drug sales.

The DOJ also has a case against Tornado Cash developers Roman Storm and Roman Semenov, while other crypto mixers like Blender and Sinbad have been sanctioned.

Read more: Tornado Cash co-founder seeks dismissal of US crypto-laundering charges

According to an S&P report, a bipartisan stablecoin bill may give banks an advantage over other institutions and incentivize competition in the digital asset custody business.

If approved, the Lummis-Gillibrand Payment Stablecoin Act proposed on April 17 seems positioned to introduce regulatory clarity for the $157 billion-strong stablecoin market currently dominated by Tether (USDT). 

Stablecoins are fiat-pegged cryptocurrencies that offer stability in an otherwise volatile financial market. Such assets are typically tied to sovereign currencies like the U.S. dollar, such as Circle’s USD Coin (USDC), serving as gateways to on-and-off ramp liquidity. 

The bill would permit U.S. banks to issue fiat-pegged tokens with no threshold, but require service providers without a banking license to maintain a market cap under $10 billion. 

According to Andrew O’Neil, Managing Director and Co-Chair of S&P Global’s Digital Assets Research Labs, the regulatory framework will give banks an edge over other market participants and incentivize blockchain adoption in the financial sector through asset tokenization and digital bond issuance.

O’Neil said on-chain payment rails offer real-time and efficient settlement, citing BlackRock Ethereum-based fund as an example.

“Investment group Blackrock’s BUIDL fund provides a recent use case. The tokenized fund, which uses the Ethereum blockchain and invests in U.S. treasuries, has a liquidity pool denominated in the USDC stablecoin, for which investors can redeem share tokens via a smart contract, instantaneously and 24/7.”

Andrew O’Neil, Managing Director and Co-Chair of S&P Global’s Digital Assets Research Labs

You might also like: Circle facilitates USDC swap for BlackRock’s tokenized fund

Although the Lummis-Gillibrand bill will not impact existing U.S.-based products like PayPal USD, the framework does not authorize offshore entities like Tether. The terms could shake USDT’s presence in the market, but O’Neil noted that Tether’s activities and volume are predominantly out of the United States.

Additionally, decentralized stablecoins are not included in the regulations, so offerings like Maker’s DAI and Frax Finance’s FRAX fall out of the proposal’s purview. Policymakers likely prefer centralized systems like USDC as they mirror existing financial operations, O’Neil explained. 

Finally, the S&P report predicted an influx of new providers in the digital asset custody industry, especially with an update to SEC rules which no longer require custodians to report crypto-assets on their balance sheet. crypto.news reached out to O’Neil and the S&P for further comment on the bill and its impacts.

“That policy not only differs from the general treatment of financial assets held in custody, which are generally off-balance sheet, but creates a capital requirement that likely discourages financial institutions from providing digital asset custody in the U.S. The new rules would remove that barrier and could lead to greater competition.”

Andrew O’Neil, Managing Director and Co-Chair of S&P Global’s Digital Assets Research Labs

Read more: Coin Center says Senate-presented stablecoin bill poses risks to innovation and free speech

TON blockchain developers announced a 2.5-fold reduction in the commission for transactions within the network.

According to the project team, the size of the transaction costs will vary depending on the value of the native token in dollars. At a price of 1 Toncoin (TON), the commission for the first transaction with Jettons will be around $0.06, and for subsequent ones, $0.04.

Starting on April 16, transactions with USDT have and will continue to receive a special discount of 0.02 TON instead of 0.032 TON for the first transaction and 0.0145 TON for subsequent transactions.

In the next node update, the developers plan to introduce the ability to pre-compile smart contracts.

“This means that the most popular smart contracts, written in C++, will be embedded directly in the node, bypassing the need for TVM execution. This adjustment reduces resource consumption and, consequently, the fees associated with these contracts.”

TON announcement

Following the announcement, the price of TON fell by 2.4% to $5.55 at the time of writing. Toncoin has continued to decline in price shortly after updating its all-time high of $7.65 on April 11.

Source: CoinMarketCap

Over the past week, the coin has lost nearly 10% of its value despite recent announcements by Telegram founder Pavel Durov at the Token2049 conference in Dubai. Reports of support for the USDT stablecoin on the TON blockchain have also been announced.

On April 16, rumors appeared that the TON team was planning to reduce user transaction costs. This year, TON is also expected to introduce gas-free transactions, update the Wallet 5.0, and develop new Teleport cross-chain technology.

You might also like: Telegram rolls out TON-based revenue sharing system

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Explore analysts’ predictions for BlockDAG to hit $10 by 2025 amid Solana’s Ecosystem Growth & understand how to hedge against Doge volatility.

The Solana Ecosystem exhibits remarkable resilience and growth in the wake of the Bitcoin halving event. At the same time, investors in Dogecoin may find value in diversifying their portfolios with assets like Shiba Budz to mitigate risks.

Meanwhile, fresh off the heels of the DAGpaper release, the BlockDAG team tantalizes enthusiasts with a moon-based keynote video teaser, amplifying the project’s anticipation. 

Advancing in its current batch 9, BlockDAG has garnered an impressive $20.1 million in its ongoing presale, with projections suggesting an imminent conclusion of the presale within the next three months. Additionally, there’s excitement over forecasts indicating a potential price surge to $10 by 2025. 

Solana ecosystem’s rally amid market fluctuations

Recently, geopolitical factors and the April 19 Bitcoin Halving event have triggered volatility in the crypto market. 

Despite a 17% drop last week, Solana (SOL) has rallied, fueled by growth in the Solana ecosystem and strategic integrations. Even after a challenging month, SOL’s market cap still exceeds $65 billion, maintaining its position as the fifth-largest globally.

This resilience is underscored by a surge in trading volume to $5.7 billion, indicating heightened interest. Key drivers of SOL’s recovery include the expansion and growth of the Solana ecosystem in Web3 gaming and a recent integration with Coinbase Wallet, which now facilitates the trading of over 50,000 Solana-based tokens.

You might also like: BlockDAG: Analyzing its 30,000x ROI potential amidst NFTFN & Bitbot presales

Optimizing risk: Balancing Dogecoin fluctuations

Dogecoin, a leading meme coin, is renowned for its strong community and media presence but is also marked by significant price volatility. This has created both challenges and opportunities for investors. To manage risks and potential profits, savvy investors are diversifying with new, Doge-like cryptos like Shiba Budz amid fluctuating markets. 

For those committed to meme cryptocurrencies, balancing a portfolio with both Dogecoin and Shiba Budz could be crucial for managing investment risks while capitalizing on their high-reward potential. Understanding Dogecoin price swings, influenced by speculative trading and media, is vital for devising effective investment strategies.

BlockDAG: Pioneering the future of blockchain with a $20.1M presale  

BlockDAG is emerging as a compelling investment prospect in the cryptocurrency presale market, bringing innovative tools and platforms that are set to transform user interaction with blockchain technology. 

Its ecosystem includes an Explorer Platform, a Low Code/No Code Platform for easy smart contract creation, and a Proof of Engagement Mobile Application. These tools not only enhance the user experience and scalability but also significantly reduce transaction fees.

Furthermore, the BlockDAG Payment Card integrates digital assets into everyday transactions, promoting wider adoption of cryptocurrencies. 

This card, along with the platforms for smart contract development, enables even those without extensive coding skills to create utility tokens, meme coins, and NFTs, thereby democratizing access to blockchain technology. Such advancements mark significant strides towards simplifying and expanding blockchain applications in the DeFi and supply chain sectors.

Moreover, emerging as the best presale, BlockDAG has reached stage 9, amassing an impressive $20.1 million in its ongoing presale. Following the release of DAGpaper and a mega appearance on the Las Vegas Sphere, BlockDAG now aims for the extraordinary as it dropped a moon-themed teaser for its upcoming keynote video.

BlockDAG, with a clear roadmap that includes a six-month mainnet launch and an ambitious $600 million revenue target for 2024, is recognized by analysts not only as crypto with a 1000x return potential but as one that could achieve up to 30,000x.

You might also like: BlockDAG’s $600m goal eclipses Solana’s downturn and SHIB’s burn strategy

The last say

The Solana ecosystem has experienced a rally driven by its inherent resilience. However, the fluctuations in Dogecoin prices, while potentially lucrative for some, often pose a risk for investors seeking more stable returns. 

On the other hand, the preview of BlockDAG’s upcoming keynote video reflects its commitment and forward-looking endeavours. 

This notable milestone highlights the steadfast confidence and backing from initial investors. In Batch 9, BlockDAG has secured over $20.1M million in funding and distributed over 8 billion coins in its presale. These remarkable figures firmly position it not only as crypto with 1000x returns but as one that can achieve up to 30,000x.

Website    Presale    Telegram   Discord

You might also like: BlockDAG’s moon-based keynote drives presale, outshines ETH, LINK

Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.

Since the beginning of 2024, large Bitcoin holders have accumulated an additional 266,000 BTC.

According to Santiment analysts, this BTC value amounts to $17.5 billion. The company notes that whales with balances ranging from 1,000 BTC to 10,000 BTC received 1.24% of the total asset supply of 21 million during the mentioned period.

🐳 #Bitcoin's key whale tier holding 1K-10K $BTC are supporting this rise, and have now accumulated 266K more $BTC since the start of 2024. This translates to an accumulation of 1.24% of the entire supply. The crowd is also showing a high degree of #FOMO. https://t.co/fNSTOERzXo pic.twitter.com/qaJmQJfFca

— Santiment (@santimentfeed) April 24, 2024

Santiment also believes institutional investors are helping to reduce industry volatility. In addition, the mentioned market players supported the Bitcoin rate growth before the halving, which experts emphasize will significantly impact the asset’s value after the halving.

Many traders fear missing out (FOMO). Santiment said many users believe the Bitcoin rate should soon return to the $70,000 mark.

You might also like: Santiment: Micro Bitcoin wallets hit record holdings in November

CryptoQuant CEO Ki Young Ju notes that new whales’ investments in Bitcoin are almost twice as high as those of older major players.

The expert classified whale addresses not associated with CEX and miners, with a balance of over 1,000 BTC. The new category included owners of coins less than 155 days old, with older ones exceeding this period.

The new whales' initial investment in #Bitcoin is almost twice the old whales' cumulative total. pic.twitter.com/SU5Aiw1nJB

— Ki Young Ju (@ki_young_ju) April 23, 2024

The launch of spot crypto ETFs in the American market and the April halving, which reduced BTC issuance, were key factors contributing to the activation of newer whales.

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Strike, a Bitcoin-only app, has expanded support to European customers following massive regional demand and rising cryptocurrency prices. 

On April 24, Strike CEO Jack Mallers shared plans to power Bitcoin (BTC) adoption in Europe by allowing users to buy, sell, and send the leading crypto token across the continent. 

An official announcement said eligible European customers could buy BTC via bank accounts using uncapped Single Euro Payments Area (SEPA) deposits. As of this writing, SEPA’s area consists of 36 countries, including all European Union member states, four countries in the European Free Trade Association, and the United Kingdom. 

Mallers also explained that Strike users can withdraw Bitcoin into self-custody or via the Lightning network to any supported wallet. 

Furthermore, the BTC-focused app will enable P2P transfers, allowing customers to engage in cross-border payments denominated in Bitcoin, euros within Europe, U.S. dollars in America, or Tether’s USDT in supported regions.

“Today marks another milestone in our global journey, but our work is far from over. We will continue to enter new markets, support more currencies, add payment methods, expand our services, and iterate on the experience.”

Jack Mallers, Strike CEO

Strike’s Bitcoin expansion spree

Strike’s foray into European markets coincides with heightened interest in BTC and crypto-related services from the region’s populace. As crypto.news reported earlier this month, the continent is a leader for Google searches regarding BTC technological upgrades and dominates the crypto-banking sector with over 60 banks offering digital asset services. 

However, Europe is only the latest destination for Strike. Last year, the firm moved its global headquarters to El Salvador, where it was looking to tap the Latin American market. The BTC platform also has a presence in the U.S. and across Africa, servicing more than 100 countries worldwide. 

Mallers, a vocal BTC maxi, has said that the cryptocurrency will hit $1 million due to its fundamental design and global hyperinflation. The founder backed up his belief by going all in BTC, supposedly holding zero USD. 

I no longer own any US dollars. Not even a penny.As an American millennial, I love our country but I oppose our money.I'm all in on #Bitcoin. Setting my sails toward prosperity or going down with the ship.I believe it's important to take a stance now more than ever 🫡 pic.twitter.com/XhWPfQzG3d

— Jack Mallers (@jackmallers) January 2, 2024

Read more: Strike CEO Jack Mallers goes all-in on Bitcoin, ditches US dollar

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Meme coins continue to be the talk of the town on Solana as Slothana (SLOTH) gears up to launch next week.

After a presale that’s raised over $15 million from retail traders, this irreverent project is hoping to make a splash and follow in the footsteps of previous viral meme coins.

SLOTH presale enters final days with DEX listing imminent. The stage is set for another meme coin to break out on Solana. And that coin could be Slothana, just days away from its open market debut.

This hilarious meme project, which is all about investors channeling their inner sloth, has been raking in SOL contributions for over a month.

Now, with the presale set to end on April 29, anticipation is building around where the SLOTH token will start trading. While the development team is keeping those listing details under wraps for now, those who follow Slothana’s Twitter account believe an announcement will come early next week.

This move would make sense since it would align with the presale’s conclusion. Moreover, the timing of Slothana’s launch looks ideal.

The Bitcoin halving has finally occurred, and investors now believe that a bull market is highly likely.

As such, SLOTH may be perfectly positioned to latch onto the upside if Slothana’s team can execute a successful DEX listing.

You might also like: Traders think Slothana could be the next big Solana meme coin

What is Slothana, and why all the hype?

But what is it about Slothana that has investors so excited?

The main reason is Slothana’s simple yet brilliant meme coin concept – which focuses on one of nature’s most laidback creatures.

There’s no utility or fancy use cases here.

Just a lazy mammal acting as Slothana’s mascot, helping it go viral on social media through a hilarious selection of memes and visuals.

It’s admittedly silly, yet charming nonetheless. And that’s precisely the simplicity that has produced exponential returns for countless meme coins in recent months.

Just look at the Slerf (SLERF) token launched in March – another sloth-themed meme project that briefly hit a market cap of over $520 million.

By tapping into this proven formula of a cute mascot with no utility, Slothana could be set to follow in SLERF’s footsteps.

Moreover, since SLOTH is entering the booming Solana meme coin ecosystem, it may quickly capture the attention of investors seeking the next token twitch’s explosive price potential.

You might also like: PEPE rises ahead of Coinbase listing as Slothana prepares for IEO

Could SLOTH be the next meme coin to explode on Solana?

Ultimately, the stars look to be aligning for Slothana to liftoff. With 1 SOL currently snagging 10,000 SLOTH in the presale, valuing each token around $0.0157, this new token has a prime opportunity to catch fire when it lists.

This is because meme coins have managed to shed their degenerate stigma in 2024.

They’re now a key part of the crypto market, with tier-one exchanges like Coinbase launching Pepe (PEPE) perpetual futures earlier this week.

There are also plans to launch Dogwifhat (WIF) perpetual. Against this backdrop of rapidly growing meme coin infrastructure, an offering as charming as Slothana looks set to benefit from the legitimization of these joke tokens.

When combined with SLOTH’s low presale price, soaring social media hype, and the growth of the Solana ecosystem, all the ingredients are there for the token to make a splash.

As such, investors are strapping in – hoping that SLOTH can be the next Solana-based meme coin to turn heads.

To learn more about this project, visit the Slothana website.

Read more: New meme coins listings to watch: Pepe, Slothana, Dogwifhat

Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.

Binance burned 1.94 million Binance Coin tokens, removing them from circulation.

The cryptocurrency exchange Binance announced the completion of its 27th quarterly Binance Coin (BNB) token burn, removing $1.17 billion worth of coins from circulation. The volume of BNB destroyed was approximately 1.3% of the total supply of the asset.

The 27th quarterly $BNB token burn has been completed directly on BNB Smart Chain (BSC) during the ongoing BNB Chain Fusion.🔥1.94M #BNB has been burned 🔥View burn details ⬇️ https://t.co/N2pp3Lu5Sf pic.twitter.com/S9Jrm5eUdL

— BNB Chain (@BNBCHAIN) April 24, 2024

However, this time, the procedure did not include burning tokens as part of the Pioneer Burn program.

The BNB token’s price failed to react to the news about the burning of tokens. According to CoinMarketCap, in 24 hours, the token lost 0.9% from its previous value, falling to $600 at the time of writing.

Over the past week, the token’s price rose by 13% despite recent news about the U.S. seeking to impose a three-year jail sentence on Binance founder Changpeng Zhao.

Source: CoinMarketCap

BNB’s market capitalization dropped by 2.2% to $88 billion, while trading volumes increased slightly by 1.4%.

Before this, Binance removed approximately 2.14 million BNB worth $636 million from circulation in January. The volume of BNB destroyed was approximately 1.38% of the total supply of the asset.

During the launch of BNB in 2017, a commitment was made to destroy 100 million coins — half of the coin’s entire supply — through burning. The offer is automatically executed every quarter and calculated using the auto-burn formula.

Binance representatives explained that this provides a transparent, auditable, and objective process independent of the centralized exchange. In addition, BNB Chain continuously burns a portion of the gas fees on the blockchain in real-time.

You might also like: Binance loses 25% of Bitcoin market share as offshore markets shrinks