Binance Weekly Report: Crypto is Trending in 2020

In this weekly report (December 19 to December 25, 2020): Bitcoin hits another ATH on Binance, Launchpool offers new fan tokens, we support airdrops for TWT and 1INCH, and more.

Crypto Market Overview: Bitcoin, BNB breaking records

Bitcoin continued its previous week’s bull run, breaking ATH multiple times within 24 hours, stopping slightly above $24,000 on Saturday. BTC broke ATH again on Sunday with $24,157 before dropping to mid $23,000 and moving sideways before breaking another ATH of $24,937.99 on Binance by the end of Friday.

This week, ETH moved similarly to BTC, but it wasn’t even close to breaking ATH from January 2018, when its price reached $1,432. ETH started the weekend with a small rally, stopping at $668 on Sunday before dropping to a weekly low of $571 on Wednesday. As of 11:59 PM UTC +8 on Friday, ETH traded at $615.

BNB broke its 52-week high when it hit $35.56 on Sunday. A sudden drop on Monday caused BNB to go as low as $30 on Tuesday and then again on Thursday. BNB traded at $32.41 by the end of Christmas day.  

The volatile market cap started on Saturday at $652 billion and continued to grow, reaching a weekly high of $679 billion on Sunday. Market cap hit the weekly low at $613 billion on Wednesday but started to recover, reaching $655 billion on Friday. 

For more crypto-related news and updates, head over to the Binance News service. We now move to updates from the Binance ecosystem and beyond. 

Binance Exchange Updates

1. Crypto Trends 2020 on Binance. What was the most traded and held asset on Binance? How much is our record 24-hour trading volume, or what is the most popular futures trading pair? This and much more in our 2020 Crypto Trends by Binance. 

2. Changing the Game: Binance Launchpool Announces More Fan Tokens To Come. We are happy to welcome new Fan Tokens on Binance Launchpool as part of the strategic partnership with Chiliz announced last week. As part of the second phase of the collaboration, Binance Launchpool users can now acquire new token rewards in return for staking different tokens from Socios.com

3. Introducing a $10 Million Fund to Support Projects in the Polkadot Ecosystem. We are establishing a $10 million fund to empower innovative projects to be built around the Polkadot ecosystem. This fund is part of our wider commitment under Binance Launchpool to bring the decentralized finance (DeFi) experience to Binance users.

4. Pioneering DeFi on Polkadot: Binance Launchpool Introduces Reef Finance. Binance Launchpool announced its latest project: Reef Finance, a multi-chain smart yield engine and liquidity aggregator where any financial hub can integrate into. 

5. NEW INNOVATION ZONE LISTINGS: 1inch (1INCH). 

6. Binance Supports SegWit Deposits for Bitcoin (BTC). Binance has launched Segregated Witness (SegWit) support for Bitcoin (BTC) deposits (withdrawals are already supported). By selecting the BTC (SegWit) network, users can transfer funds to a SegWit (bech32) address.

7. Earn Up to 12% APY on DUSK, EGLD, and RUB with Binance Savings

8. Binance Pool launches 22nd Phase of dual savings products for BTC, USDT, and BUSD.

9. Binance Loans Adds Borrowable Assets BTS, GRT, NBS, TRX, and XMR

10. Earn Double Rewards with NEO and VET Flexible Savings

11. Binance supports the following airdrops: Cobak (CBK) Airdrop Program for MovieBloc (MBL) Holders, OnX.Finance (ONX) Airdrop Program for Ankr (ANKR) Holders

12. Adjustment to Interest Distribution Period for Binance Locked Staking

13. Binance Temporary System Maintenance Complete (2020/12/21)

14. Trading System Upgrade Complete (2020/12/25)

15. Removed trading pairs: AE & HC, AION/BNB, IRIS/BNB, MDT/BNB, NKN/BNB, STORJ/BUSD

16. Binance KR to Close Operations. Binance KR will terminate the local exchange operations due to low usage and volume with limited trading pairs of BKRW, resulting in limited liquidity for its users. Following the exchange’s closure, the Binance KR team will reassess its market strategy based on the resources and experience of operating a local exchange.

BNB Smart Chain Updates

17. AllianceBlock and BNB Smart Chain announce Liquidity Mining Partnership in the First Step to Bridge CeFi with DeFi. The partnership between Binance and AllianceBlock represents much more than liquidity mining and is a significant step forward as institutional interest in blockchain reaches new highs.

18. Binance Bridge V2 Release. Introducing Binance Bridge V2, a brand new bridge service providing access to inter-blockchain liquidity for all popular blockchain networks, brings valuable assets such as BUSD, USDT, and ETH to BNB Chain ecosystems.

19. Bondly x BNB Smart Chain Partnership. BNB Smart Chain has teamed up with Bondly, an industry leader in the DeFi and NFT space, to bring you the greatest Christmas gift of all: self-sovereign art.

20. BNB Beacon Chain Monthly Update - December

From the Binance Team

21. The Complete CZ Reading List. “These are the top books I recommend. They all impacted and contributed to my understanding and view of the world as well as shaping my thinking models. I believe they will have a positive impact on you, too,” CZ.

22. How To Claim Your Trust Wallet Token (TWT) Airdrop On Binance. If you received the TWT airdrop, the TWT would be in your Binance spot wallet now. TWT is not listed for trading on Binance, so to use your tokens, you must withdraw to a wallet that supports BNB Smart Chain. You must claim your airdrop by January 5th, 2021, 00:00 AM UTC, or the tokens will be lost.

Binance Futures/Options/Margin Updates

23. Binance Futures 2020 Recap: Where Bitcoin took us, and what awaits in 2021? The resurgence of cryptocurrencies has quickly positioned them as one of the best-performing assets in 2020, outperforming traditional investments such as Gold and the stock markets. Many analysts believe that the rally will continue in 2021 as inflation-boosting stimulus programs authorized by major central banks and governments are likely to continue. 

24. Binance Futures Will List BTC, ETH, BNB, ADA, LINK, BCH, XRP, DOT, and LTC Coin-margined Quarterly 0625 Contracts.

25.Binance Will Enable Isolated Margin Trading and Launch a USDT-Margined Perpetual Contract with Up to 20X Leverage for 1INCH

26. USDT-Margined BNT, UNFI 50X Perpetual Contracts and GRTUP & GRTDOWN Binance Leveraged Tokens Listing Postponed.

27. NEW ON MARGIN: GRT, NBS, GTO, MITH & GBP 

28. Updates to USDT-Margined GRT Perpetual Contract. Binance Futures has updated the risk and margin tiers of the USDT-margined GRT perpetual contract as per the table below. The maximum leverage available in the USDT-margined GRT perpetual contract has also been decreased to 20x. This change is in effect immediately.

29. Binance Futures Will Launch USDT-Margined GRT Perpetual Contracts with Up to 50X Leverage

30. Updates to Trading System and Rules for USDT-Margined Futures and Risk and Margin Tiers for Coin-Margined Quarterly Contracts. To better serve our users and prevent market risk, we updated our Trading System and Rules of USDT-Margined Futures. 

31. Binance Futures Will Launch Coin-Margined EGLDUSD 50X Perpetual Contracts and USDT-Margined BNT, UNFI 50X Perpetual Contracts

Binance Ecosystem Updates

32. Binance Academy’s newest articles:

• How to Claim 1INCH Token Airdrop

• What Is Basic Attention Token (BAT)?

• Interest Rates Explained

• What Is Facebook Libra (Diem)?

• What Is an Initial Exchange Offering (IEO)?

• What Is Tether (USDT)?

33. Binance Research’s newest reports:

• 1inch (1INCH)

• AS Roma Fan Token (ASR)

• Atletico de Madrid Fan Token (ATM)

• OG Fan Token (OG)

• Reef Finance (REEF)

Promos and Community

34. ONGOING: GBP Holidays Trading Competition - 20,000 BUSD Prize Pool to Be Won!

35. ONGOING: Binance Liquid Swap Adds BTC - Join to Share 500,000 BUSD in Rewards

36. ONGOING: Coin-Margined Futures Trading Competition - $100,000 in EGLD to Be Won!

37. COMPLETED: Binance Futures Christmas Giveaway!

38. COMPLETED: ETH 2.0 Staking Service with Double Rewards Activity 

39. COMPLETED: ETH 2.0 Futures Trading Competition

40. COMPLETED: EUR Holidays Trading Competition

41. COMPLETED: FOR Trading Competition

42. COMPLETED: #BinanceChristmas: Over $100,000 in presents and rare Christmas NFTs! 

43. COMPLETED: $65,000 Bounce Token (BOT) trading competition

44. COMPLETED: $50,000 StormX trading competition

45. COMPLETED: Swipe and Binance Card holiday promotion: 100,000 SXP prize pool

That’s a wrap for the past week. Follow us on Twitter, Instagram, Facebook, and YouTube, and join our official Binance Telegram group to talk more with our community.