On Feb. 10 Binance Coin (BNB) hit a new all-time high at $148 after the native exchange token rallied 121% since the start of the week. Data from Cointelegraph Markets and TradingView shows that BNB rose from $35.37 on Jan. 11 to $148, a 256% increase in less than a month. Three reasons for the explosive growth in the price of BNB include the recent surge in trading volume to a new record high, the expansion of DeFi related protocols to the Binance Smart Chain, and a steadily expanding ecosystem which is supported by new partnerships and integrations. Surging volume …

The price of Bitcoin (BTC) rallied to above $48,000 on Feb. 9, and has been consolidating since. Analysts from Material Indicators found that whales were the primary driver of the rally. This is largely considered a bullish sign. The probability of a Bitcoin top would increase when retail investors enter into the market en masse, as both the spot and derivatives markets get overheated. Why are whales driving the price of Bitcoin up? In recent months, so-called “mega whales” sold large amounts of Bitcoin between $33,000 and $40,000. Orders ranging from $1 million to $10 million rose significantly across major …

The world’s largest cryptocurrency exchange, Binance, has dropped its defamation lawsuit against news publication Forbes and two of its journalists, according to official court documents. Binance Holdings filed a lawsuit against Forbes, along with journalists Michael Del Castillo and Jason Brett in November, following an article that alleged Binance sought to purposely distract and dodge United States financial regulators. A notice of voluntary dismissal was filed in a U.S. district court in New Jersey on Feb. 4, ending the pending legal action against Forbes. The filing contains no explanation for the withdrawal of lawsuit, stating simply that Binance, “Hereby gives …

Binance Labs has led a $2.4 million Series A funding round for Polkadot-based smart contract platform, Plasm Network. Plasm Network's funding round is the first investment made using Binance Labs’ $10 million fund to support projects in the Polkadot ecosystem. Plasm is a leading parachain candidate on Polkadot supporting Ethereum and Layer-2 scaling solutions. Binance Labs is the venture capital and incubator arm of crypto exchange giant Binance. In December 2020, Binance Labs led a $12 million funding round for MATH, a multi-chain assets hub behind MathWallet. In August of the same year it made a strategic investment in decentralized …

Today Bitcoin (BTC) price rallied to a new all-time high at $44,900 shortly after Tesla announced a $1.5 billion investment. This event triggered $555 million worth of shorts to be liquidated in two hours and it happened as Bitcoin futures open interest reached $13.7 billion, which is just 3% below its historical high. These price moves drastically increased the cost of carrying long positions, mainly for those using perpetual futures. This indicator raised a yellow flag on how leveraged those investors are and their potential price impact. As shown adove, the aggregate BTC futures open interest just reached a $15 …

Service outages have been reported at major cryptocurrency exchanges on Feb. 8, following the news that Tesla invested $1.5 billion in Bitcoin (BTC). As Cointelegraph reported earlier, news of Tesla's sizeable investment broke after the discovery of a filing with the U.S. Securities and Exchange Commission. This caused Bitcoin price to jump $3,000 in a matter of minutes, eventually claiming a newall-time high of $44,850. Problems were reported at a number of exchanges, including Binance, whose CEO CZ tweeted that a traffic influx was causing temporary delays while auto-scaling caught up, and that Tesla CEO Elon Musk was to blame. …

Launched in September 2020, PancakeSwap is a decentralized exchange (DEX) running on Binance Smart Chain. Instead of allowing its users to trade ERC-20 and ERC-721 tokens, the DEX focuses exclusively on Binance Chain BEP20. By using an automated market maker (AMM), the DEX allows tokens to be exchanged with no need for order books. This is quite similar to Uniswap's liquidy pools which are automated by smart contracts. In addition to its traditional functions, PancakeSwap offers staking for its liquidity providers. There's also a lottery for users holding 10 or more CAKE and by opting for a chain with much …

Binance Coin (BNB), the in-house token of cryptocurrency exchange Binance, saw its price hit a new all-time high this week, passing Bitcoin Cash (BCH) by market capitalization. BNB, Binance volume hit records Data from Cointelegraph Markets and TradingView confirmed that BNB "flippened" BCH to become the ninth-largest cryptocurrency on Feb. 4. One of a number of altcoins to reach record highs this week, BNB/USD briefly hit $55 on Thursday before correcting to circle levels just below $54. All time high on system traffic again. In fact, 3 ATHs in the last 15 minutes. Some isolated latencies observed, monitoring. Funds are …

Bitcoin (BTC) exchanges in the United States are seeing unprecedented popularity as a wave of adoption sweeps the market. Data from statistics resources Alexa and Similarweb shows that major exchange Coinbase now ranks within the top 1,000 most popular websites around the world. Coinbase in top 400 U.S. sites As BTC/USD circles all-time highs, its run to $42,000 in January appears to have sparked a tsunami of new user engagement with some of the most popular cryptocurrency trading platforms. In the U.S., the focal point of institutional inflows into Bitcoin in recent months, exchanges Gemini, Kraken and Binance U.S. are …

XRP price underwent a strong 86% breakout in the early trading hours on Jan. 30 as the fourth-ranked cryptocurrency by market cap became the new coin of focus in the r/Wallstreetbets cryptocurrency-focused off-shoot r/Satoshistreetbets. Data from Cointelegraph Markets and TradingView shows that XRP rose from $0.28 to a peak at $0.51 before profit selling pulled the price back to $0.41. It appears that the antics of the past week which saw r/Wallstreetbets pump GameStop, AMC and Dogecoin (DOGE), have carried over into the weekend as Stellar (XLM) also saw its price pump in tandem with XRP. After rallying more than …

Global cryptocurrency exchanges are increasingly experiencing issues with Dogecoin (DOGE) withdrawals amid Redditors pumping the altcoin up 900% in the past two days. On Thursday, a number of crypto users reported on Twitter that they were unable to withdraw their Dogecoin due to crypto exchanges temporarily halting withdrawals. The affected exchanges reportedly included some major crypto platforms like Poloniex, Bittrex and Yobit. Some crypto users reported that they signed in on Dogecoin-supporting exchanges like Poloniex to buy some DOGE to only find out that withdrawals were unavailable shortly after depositing. “We are working to have the wallet re-enabled as soon …

The majority of cryptocurrency users reportedly prefer to hold their crypto as part of a long-term investment strategy, according to a new survey by Binance Research. Released on Thursday, the survey report shows that as much as 55% of respondents own cryptocurrencies like Bitcoin (BTC) as a long-term investment. The “2021 Global Crypto User Index” report is based on a global survey that includes input from more than 61,000 crypto users across 178 countries and regions. The survey was conducted over a period from Sept. 15 to Oct. 25, 2020. According to Binance Research’s findings, the majority of respondents were …