Der Entwickler des umstrittenen Krypto-Mixers muss für drei weitere Monate in Untersuchungshaft bleiben.
Is BNB safe from crypto meltdown?
The collapse of the FTX exchange, a once “sound” crypto exchange, has sent new shivers in the sector. For a once thriving crypto exchange that was bailing out struggling firms, the collapse was least expected. The crisis has caused massive crypto downturns, and exchange-linked coins have not been spared. But just much damage did the FTX cause to cryptocurrencies like BNB?
BNB is the native token of the world’s largest cryptocurrency Binance. While Binance has often reassured users of the platform’s transparency, the token has also been getting hit. However, compared to other cryptocurrencies, BNB has been quite stable. The token was trading at $263 at press time, losing 5% in the week.
The FTX debacle calls for deeper transparency in the crypto and blockchain industry. To bring back confidence in the market, Binance CEO Changpeng Zhao introduced proof-of-reserves. The PoR will help users understand how exchanges handle their funds. CZ has since been advocating for a similar model by other crypto exchanges to increase transparency.
As it stands, crypto confidence remains low, something experts believe will stay down for a while. Bitcoin enthusiast Anthony Pompliano says the confidence game is over for crypto. In his view, the loss of investor morale will push more investors to Bitcoin. He says that is due to Bitcoin’s robust architecture and simplicity.
Aside from the views of experts, BNB may not be safe from the crypto meltdown. A confidence crisis may take longer to wither for an exchange that has been facing regulatory hurdles all over. Still, Binance has shown resilience and a global footprint that cannot be ignored. Consequently, we could have to deal with the weak sentiment as it comes while the rest unfolds for Binance and BNB.
BNB loses support at $266
From the technical outlook, BNB could proceed lower after losing key support at $266. The cryptocurrency is retesting the support-turned-resistance. The RSI is below the midpoint, indicating that there are more sellers.
Should you buy BNB?
BNB price is vulnerable after breaking below $266. The next potential support for the cryptocurrency is $242 if bulls do not defend $266.
Where to buy BNB
eToro
eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.
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.
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Cardano heads further south amid stablecoin launch. What holds for the token next?
The first stablecoin on Cardano (ADA/USD) has been launched. The USD-based stablecoin, iUSD, was launched by the decentralised synthetic asset issuance protocol, Indigo. The launch of iUSD comes two months after Cardano’s hard fork that allowed the building of dApps on the blockchain. The stablecoin will be valued at $1.
The launch of iUSD could be the first of many expected on Cardano. Djed algorithmic stablecoin is expected to launch in January. Djed launch has been touted as an important milestone for Cardano’s DeFi ambitions. The stablecoin will act as an autonomous bank, facilitating the trading of stable assets.
Djed’s upcoming launch has also been lauded in the wake of market volatilities orchestrated by the Terra Luna Crash and FTX. Speaking at the Cardano Summit on November 19-21, 2022, COTI CEO Shahaf Bar-Geffen commented. Recent events have called for a safe haven against volatility. COTI’s Bar-Geffen exuded confidence that “Djed will fulfil this role in the Cardano network.” The stablecoin will be decentralised and will carry on-chain proof of reserves.
Aside from the stablecoin launch, Cardano is preparing to launch a privacy-focused blockchain. The new blockchain, dubbed “Midnight,” is expected to challenge other privacy-focused projects like Monero. A new token, “Dust,” will also be launched to run the privacy ecosystem. The projected launch will counter the rising privacy issues raised in blockchain, which other platforms have failed to address.
Amid the positive developments, the market sentiment for ADA is bearish. The cryptocurrency trades at $0.3 in a bear market momentum.
ADA proceeds lower with no support in sight
On the daily chart, ADA is trading on a clear downtrend. The RSI is below the midpoint, implying that sellers are very active on the cryptocurrency. The moving averages offer support above.
What next for ADA?
There is no clear next level for ADA price. The cryptocurrency is on a free fall since plunging below minor support at $0.35. ADA must recover to key levels and or above moving averages for a bullish reversal to be confirmed. The zones to watch for the cryptocurrency are $0.35 and $0.40.
Where to buy ADA
eToro
eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.
OKX
OKX is a top cryptocurrency exchange which offers over 140 cryptocurrencies to invest in. OKX takes customer security very seriously, they store almost all of their clients‘ funds in cold storage, and the exchange is yet to be hacked. On top of this, the exchange offers very low fees and customers can even use their crypto as collateral for loans on the platform.
The post Cardano heads further south amid stablecoin launch. What holds for the token next? appeared first on CoinJournal.
Texas leitet Ermittlungen gegen Tom Brady und andere Promis wegen FTX ein
Neben Tom Brady wird auch Stephen Curry zur Zielscheibe der Ermittlungen des Texas Securitires Boards im Fall FTX.
Warum ist der Krypto-Markt heute in minus?
Der Bitcoin-Kurs ist wieder gesunken. Was sind die Gründe für diesen längeren Rückgang?