Binance has launched another free NFT minting event, which was met with overwhelming demand and claimed within five hours.- Despite recent legal troubles, BNB is recovering from a dip in price earlier in the week.Binance [BNB] has made another bold move in the exciting world of AI-infused NFTs, and the initial response is worth a second glance.Despite recent setbacks, the world’s leading cryptocurrency exchange is determined to carve out a presence in the NFT marketplace.
Read Binance Coin’s [BNB] Price Prediction 2023-24 Binance NFTs for everyone! On 29 March, Chanpeng Zhao [CZ] shared some exciting news with the community.
The much-anticipated Binance Bicasso was officially open again for free mints.CZ announced that there were 100,000 mints available, and they would be distributed on a first-come, first-served basis.
Later in the day, CZ shared an update on the mints, revealing that all 100,000 mints had been claimed in just five hours.It was much faster than the anticipated 12-hour timeframe, highlighting the overwhelming demand for Binance Bicasso NFTs.A d… voilà ! 🎉 100k NFTs minted in 5 hours only (instead of 12h anticipated)! https://t.co/ZxgromOoUM — CZ 🔶 Binance (@cz_binance) March 29, 2023 Binance NFT transfer volume shows consistent volume According to data provided by Santiment, there has been consistent activity in the Total NFT trade Volume in USD, even after the launch of the Binance Bicasso platform in March.
The chart showed that the trade volume has remained steady.It saw a peak of $2.34 million and a volume of $1.3 million at the time of writing.
The Binance lawsuit and insider trading accusations Unfortunately, Binance has been facing some legal troubles in recent weeks.One significant development was the news of a lawsuit filed against the exchange by the Commodity Futures Trading Commission (CFTC).The lawsuit alleged that Binance violated the commission’s digital assets and derivatives trading regulations.In addition to the CFTC lawsuit, there were reports of insider trading at the exchange.
While the alleged insider trading details are not yet clear, these reports are concerning and could lead to further legal and regulatory action against the exchange.It’s worth noting that Binance has denied any wrongdoing in both cases.BNB’s recent price move A closer look at Binance’s (BNB) price action on a daily timeframe showed that the cryptocurrency was recovering from a dip earlier in the week.At the time of writing, BNB was trading at around $317 with a profit of over 1%, suggesting that investor sentiment is improving.Is your portfolio green? Check out the Binance Profit Calculator One indicator supporting this view was the Relative Strength Index (RSI) line, which had crossed the neutral line.
The RSI indicated that the buying pressure on BNB was increasing, potentially driving the price higher in the short term.Overall, Binance’s move into the NFT market is prudent, and it could help offset some of the negative attention the exchange has received in recent weeks.However, it remains to be seen how successful the Binance Bicasso platform will be and whether it will impact the broader NFT market.
– The Hedera Hashgraph team spoke to the U.S.delegation about the blockchain ecosystem.- Clampdown on the ecosystem remains constant but the HBAR’s price increased.Hedera [HBAR], the decentralized enterprise-grade public network got an opportunity to discuss the idea behind its project at a U.S.Department of state meeting.The event, which covered private sector discussions, offered Hedera the chance to explain how decentralized projects help some of the country’s objectives.1/3 Today at @POTUS’ #SummitForDemocracy, #Hedera has made a commitment to convene a democracy roundtable on how #blockchain technologies can and are supporting human rights, #transparency, and #sustainability through #DLT-enabled applications.https://t.co/pyrGjXt0if — Hedera (@hedera) March 29, 2023 Realistic or not, here’s HBAR’s market cap in BTC terms A dive into the world of the untamed Created by Hedera Hashgraph LLC, a cryptography firm in the United States, the Hedera public network facilitates the use of smart contracts to validate transactions and reduce data manipulation.This, and details about the usability of the Distributed Ledger Technology (DLT) were the talking point shared by the project.
However, it is necessary to point out that the address does not immediately translate to the country’s slowdown on the crypto clampdown.For some time, the United States, led by its Securities and Exchange Commission (SEC) has shown disdain toward crypto firms, and several existing tokens.This same conflicting position has driven the case with Ripple [XRP] to escape resolution for over two years.
World’s largest exchange Binance has not been left out.And Ethereum [ETH], a token that has existed for eight years has been tagged security by the Gary Gensler-led administration.Therefore, it is highly unlikely that the solution Hedera has extended would quench the year-long hunt.In fact, it has worsened to the point that the SEC Chairman requested more funds to continue its “oversight”.In his testimony before the U.S.
Financial Services Committee, Gensler had asked for $2.43 billion to further the commission’s activities in 2024.Although his statement largely avoided a direct attack on crypto, he was not unable to label the ecosystem as “non-compliant.” HBAR rises However, the broader market seemed unperturbed by Gensler’s gimmicks.
On 29 March, Bitcoin [BTC] momentarily tapped $29,000.However, the coin has been able to sustain its value above $28,000 ever since.Is your portfolio green? Check the Hedera Profit Calculator Hedera’s involvement with the authorities was surely not expected to affect its growth.But the token has been able to upturn its initial seven-day deficit.At press time, HBAR exchanged hands at $0.064, bringing its 24-hour performance to a 3.38% uptick.According to CoinMarketCap, the trading volume within the same period increased by 164%.
The volume measures the aggregate amount of transitions that occurred within a network.Hence, the hike simply means that an increased number of HBAR tokens have been bought and sold irrespective of gains made or losses incurred.- Shibarium testnet achieves significant milestones with over 100,000 transactions on Puppynet and 190,000 transactions in total.- Despite a recent downtrend, the potential for ShibaSwap BONE to gain traction with the upcoming mainnet launch remains high.Despite an initial setback, the Shibarium has impressively maintained its momentum, raising hopes for the utility of BONE.Thanks to the correction of its chain ID and updated documentation, transactions on the blockchain have been steadily flowing.
Recently, the Shibarium has achieved a significant milestone in its daily transactions, signaling its continued success.Read ShibaSwap (BONE) Price Predictions 2023-24 Shibarium wallets and transactions on the rise A recent post highlighted some impressive data from the Shibarium testnet, revealing significant milestones achieved by the network.
According to Puppyscan.io, on 28 March, the network witnessed a remarkable 100,000+ transactions on Puppynet alone.In addition, the number of wallets currently testing the network has now exceeded 100,000, with a current count of 108,577.The total number of transactions performed on the network has surpassed 190,000, indicating a strong and active community behind the Shibarium.MVRV and price shows a BONE loss The native token of the Shibarium network, ShibaSwap BONE, has not been idle either.Unfortunately, over the past few days, the token has been experiencing a downtrend on a daily timeframe.At press time, BONE was trading at approximately $1.05, reflecting a loss of over 1%.The Relative Strength Index was below 32, indicating that the token was caught in a bear trend.Furthermore, the 30-day Market Value to Realized Value ratio indicated that BONE holders were experiencing a loss, at press time.
The ratio for the token had fallen below zero, sitting at -18.73%, at the time of writing.BONE speaks volume Despite the recent downtrend and loss experienced by BONE holders, the volume metric for the token painted a slightly different picture.
Since the beginning of the year, BONE has seen increased trading activity, as reflected in its volume metrics.Although its highest volume of over 60 million occurred on 16 March, the token has continued to attract consistent trading volumes throughout the year.At the time of writing, BONE’s volume was almost five million.In addition to its trading and volume metrics, the social volume for BONE has also seen some notable activity.
Similar to the volume metric, there has been a consistent increase in social activity surrounding BONE since the beginning of the year.However, in recent days, the social volume has witnessed a slight drop.As of this writing, the metric stood at 77, reflecting decreased social activity.Is your portfolio green? Check out the Bone Profit Calculator Given the recent increase in activity witnessed by the Shibarium testnet, there is a strong potential for BONE to gain more traction in the market.With its active community and consistent trading volume, the token is positioned to benefit from the mainnet launch, potentially leading to a significant breakout.Despite the current downtrend experienced by the token, the strong fundamentals of the Shibarium network and its growing user base suggest that there is still considerable room for growth and potential for BONE.- The AVAX bullish sentiment has decreased after an impressive all-round performance in March.
– The Avalanche blockchain experienced a great deal of NFT volume and stablecoin supply.Having dominated other cryptocurrencies in the market, price, and social activity, Avalanche [AVAX] was one of the best performers in March.But this outmatch did not only begin in the third month.
In terms of price, AVAX has been able to dominate the second-ranked asset in market cap Ethereum [ETH] in the last 90 days.While ETH boasted of a 50% hike, AVAX put up a 60.30% increase in the first quarter.Realistic or not, here’s AVAX’s market cap in ETH’s terms As the day goes by, the influence reduces Although LunarCrush ranked listed the token of the layer one (L1) blockchain as one of the top assets with the best traction, its current condition may call for wariness as next month approaches.First off, the social intelligence platform revealed that social contribution in relation to the asset has decreased by 79.9% in the last seven days as shown below.
The metric shows the tally of the number of unique people discussing an asset in real time.Since the value had secretly diminished, it implied that the velocity of AVAX social interaction was down and traction trended lower.Another metric that has dwindled over the same period is the bullish sentiment.The metric specifically considers shared perception about an asset.Although the bullish sentiment rose over the last 24 hours, the seven-day performance was a 66.95% decline.Despite having the support of Bankless co-founder who posted severally about the token, AVAX’s acumen moved downwards.Due to these backtracks, its alt rank position which puts market volume perspective into consideration budged 44 places.
Big strides and a “March” toward confidence In terms of Non-Fungible Tokens (NFTs) sales, Santiment revealed that collectibles linked to the blockchain had several good days.As revealed by the on-chain tracking tent, sales volume reached eight figures on several occasions with a 30-day high of 16.95 million.This means that NFT traders turned their attention toward AVAX assets.However, the volume appeared to have decreased at press time.
Away from drawdowns, whales seem to be making efforts to help keep up the AVAX performance in April with stablecoin input.
How much are 1,10,100 AVAXs worth today? Evidently, the stablecoin market has been hit with challenges as Circle [USDC], and Binance USD [BUSD] market caps were underwater.However, whales’ stablecoin supply for the token has been increasing since 14 March.At press time, the supply percentage was 50.65.A testament to this action would be the conviction that investment in AVAX could be worthwhile.
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