Monat: Mai 2023

• Binance Australia has halted all Australian Dollar deposits.
• Users can still buy and sell cryptocurrencies using credit or debit cards.
• Binance Australia is working towards finding an alternative payments provider.

Binance Australia has with immediate effect halted all Australian Dollar deposits for its users, according to a statement the company tweeted on Thursday.

The crypto exchange announced it would not facilitate AUD bank transfers via PayID, citing the decision of a third-party payment provider as the reason for the action.

“We regret to inform you that with immediate effect we are unable to facilitate PayID AUD deposits for Binance users due to a decision made by our third party payment service provider. We understand from our third party payment service provider that Bank Transfer withdrawals will also be impacted and we will advise users on timeline when this is confirmed,” the crypto exchange’s notice to users read.

A follow-up tweet from the exchange said that users will continue to access AUD withdrawals, with any changes set to be communicated in due time.

We have confirmed with our local payment partner that our users can continue to withdraw AUD and we will update with any further changes on timing as we know more. Users are still able to buy and sell via debit and credit card. https://t.co/ReS6V7FbZu

— Binance Australia (@Binance_AUS) May 18, 2023

Users can still buy and sell via debit/credit card

While the AUD bank transfers are suspended for now, Binance says its users can still buy and sell cryptocurrencies using credit or debit card. The platform’s P2P marketplace also continues to operate normally, the notice added.

In the initial statement, Binance Australia said it was working towards finding an alternative payments provider. Binance also assures users that funds are SAFU.

Binance Australia’s banking problems come at a time the broader crypto industry is seeing a growing impact from challenges related to fiat on-ramps. 

The recent collapse of crypto friendly bank Silvergate Bank and the exit of the Cosmopolitan Commercial Bank from the space is expected to exacerbate the situation even more amid strict crypto banking regulation.

The post Binance Australia halts AUD fiat transfers amid third party provider issues appeared first on CoinJournal.

• Grayscale says it disagrees with SEC’s staff over suggestions that Filecoin (FIL) is a security.
• The letter from the SEC staff was sent on 16 May 2023, after Grayscale applied to list the Grayscale® Filecoin Trust (FIL) (OTCQB: FILG) 
• SEC staff also believe the meet the Grayscale® Filecoin Trust “meets the definition of an investment company under the Investment Company Act of 1940.”

Grayscale says it received comment from the US Securities and Exchange Commission (SEC) staff regarding the underlying asset of the Grayscale® Filecoin Trust (FIL) (OTCQB: FILG) that the digital asset manager was looking to register.

In particular, Grayscale’s press release points to a letter from SEC staff sent on 16 May. According to the staff, FIL, the native token of the Filecoin cryptocurrency ecosystem, “meets the definition of a security.” 

The SEC comment highlighted that this view was taken with an understanding the securities laws.

Grayscale disagrees with SEC’s letter that FIL is a security

The Filecoin Trust appears to also “meet the definition of an investment company under the Investment Company Act of 1940,” the letter stated.  The staff therefore requested that Grayscale seeks the withdrawal of the registration of the FILG that it had applied for in April.

“Grayscale does not believe that FIL is a security under the federal securities laws and intends to respond promptly to the SEC staff with an explanation of the legal basis for Grayscale’s position,” Grayscale said in its press release on Wednesday.

According to Grayscale, it’s difficult to tell whether the US regulator’s staff will agree with it in terms of the assessment that Filecoin is not a security. The company says if their communication fails to persuade the SEC, it may have to seek accommodations in the quest to register the Filecoin Trust.

The company could also go the recommended way and have the Trust dissolved, the statement read.

Grayscale filed a lawsuit against the SEC in 2022 after the agency denied the company’s application to convert its Grayscale Bitcoin Trust (GBTC) into an exchange-traded fund (ETF).

The SEC on the other hand sued Ripple, the company behind the XRP cryptocurrency over allegations the blockchain firm had been selling unregistered securities. That case has dragged since December 2020, although its conclusion looks to be imminent.

Elsewhere, the agency has been criticized for its approach to crypto regulation, particularly with regard to its regulation by enforcement as seen over the past several months.

The post SEC staff suggest Filecoin (FIL) is a security: Grayscale appeared first on CoinJournal.

•  BNB, Cardano and Polygon were looking to break key resistance areas as crypto prices rose late Wednesday.

• Stocks jumped as all the major US indices ended the day higher while Bitcoin bounced above $27,400 again.
• Other coins to see gains include XRP, Dogecoin and Litecoin.

The cryptocurrency market remains largely flat today after a slow week for the broader market amid investor cautiousness on US debt-ceiling sentiment. On Wednesday, US stocks closed higher as reports emerged of positive progress from lawmakers, with the Dow ending over 400 points up and the S&P 500 and Nasdaq both notching +1.2%.

In crypto, Bitcoin (BTC) was changing hands just above $27,000, Ethereum (ETH) was at $1,824, and XRP (XRP), one of the best performers today among the top 10 cryptocurrencies, traded near 45 cents. 

Binance Coin (BNB), Cardano (ADA) and Polygon (MATIC) were among altcoins to see a slight uptick, while XRP, Litecoin and Dogecoin have also climbed.

Here is a short term price prediction for BNB, ADA and MATIC.

BNB (BNB) price

BNB is trading at $314, about 1% in the green at the time of writing after bulls turned up to defend the $310 area.

However, the 20-day EMA ($317) and 50-day EMA (319) are offering a major resistance zone. With the averages suggesting further weakness, bears are likely to try to pull the price below the strong support at $300. If they succeed, the BNB/USD pair could extend the decline to $270.

On the other hand, if the price bounces off support and BNB sees fresh demand, a rise to the highlighted EMAs could afford buyers breathing space to target the hurdles in the $330 – $350 range.

Cardano was above $0.37 at the time of writing. While ADA/USD is up 3% in the past 24 hours and has broken above a key horizontal line, the bulls are not in the clear yet.  To pull the price higher, buyers need to break past $0.40 in order to target the recent uptrend peak of $0.46.

If bears succeed in retaking control, the ADA/USD pair could decline to $0.30.

Polygon is currently trading at $0.87, up by about 5% in the past 24 hours. 

The bulls are likely to try to push the price above the resistance line at $0.91. If they succeed, the MATIC/USD pair target the psychological $1.00 area, with potential to retest the supply wall near $1.20.

On the flipside, if the price turns down and break below the new range support, further weakness could offer bears the encouragement to target $0.70.

Polygon (MATIC) price daily chart. Source: TradingView

The post Crypto price prediction: BNB, Cardano and Polygon appeared first on CoinJournal.

Key takeaways

• PEPE is the worst performer amongst the top 100 cryptocurrencies by market cap today.

• The meme coin has lost more than 10% of its value as it continues to underperform. 

• PEPE could experience further dumping as the broader crypto market undergoes a correction.

PEPE loses more than 12% of its value today

PEPE, one of the most popular meme coins of the year, has been underperforming over the past few days. It recorded massive profits a few weeks ago but has been underperforming since reaching its all-time high price of $0.000004354 12 days ago.

The token is now down by more than 65% from its all-time high and could continue to dip lower.

At press time, the price of PEPE stands at $0.000001506 per coin. Over the past 24 hours, PEPE has lost roughly 12% of its value, making it the worst performer amongst the top 100 cryptocurrencies by market cap. 

Will PEPE go back up soon?

PEPE’s poor performance coincides with that of the broader cryptocurrency market. The token has been underperforming since it began to be listed on some major cryptocurrency exchanges.

The broader cryptocurrency market has been underperforming in recent days. At press time, the total cryptocurrency market cap stands at $1.12 trillion, down by less than 1% so far today.

Bitcoin, the world’s largest cryptocurrency by market cap, is also underperforming, and is now trading just below the $27k level.

With the broader crypto market currently experiencing a poor run, PEPE could find it tough to regain its all-time high price in the near term.

The meme coin mania in the cryptocurrency space seems to have subsided in recent weeks. If the fundamentals of the broader market improve, PEPE could see its value soar higher over the next few weeks. However, if the current market conditions persist, PEPE could see its price retest the all-time low level of $0.00000002764 once again.

The post Will PEPE go back up after losing more than 12% of its value in the last 24 hours? appeared first on CoinJournal.