A quant has explained how altcoin inflows into cryptocurrency exchange Binance might act as a leading indicator for the market. Spikes In Binance Altcoin Inflows Tend To Precede Corrections In a CryptoQuant Quicktake post, an analyst has talked about the trend in the altcoin exchange inflows going to Binance. The indicator of relevance here is the “Exchange Inflow Transaction Count,” which measures, as its name suggests, the total number of deposit transactions that investors are making to a given centralized exchange. Related Reading: Bitcoin Top Buyers Aren’t Selling: $118,000+ Supply Remains Firm Below is a chart for the indicator that shows the trend in the altcoin deposits occurring on the various exchanges. As is visible in the graph, the altcoin Exchange Inflow Transaction Count peaked on all exchanges right before both the 2024 market tops, implying that deposit activity intensified on the platforms. Generally, investors transfer their coins to exchanges when they want to sell, so spikes in exchange inflows can lead into bearish price action. This appears to be what happened in these two instances. Interestingly, during the latest market drawdown that has occurred over the past few days, inflows on only one exchange have seen a spike: Binance. There have also been other instances in the past where this pattern developed. “Spikes in Binance inflows (represented by the purple area) frequently precede downward price movements or market corrections,” notes the analyst. The quant has also explained that Binance is not only the largest exchange in the sector in terms of trading volume, but also a hub for altcoin activity from both retail and institutional entities. As such, investor behavior on the platform can be quite relevant for the wider market. Speaking of alts, CryptoQuant has shared a few new indicators that can be used to track smart money. One of these is the Average Order Size, which differentiates between futures buy orders by their scale. The above chart shows the indicator’s data for Hyperliquid (HYPE). It would appear that whale-sized buy orders appeared when the altcoin was trading around $11 earlier in the year. Since then, its price has climbed to $39. Related Reading: Bitcoin Neutral Sentiment Didn’t Last Long: Investors Already Greedy Again Another indicator is the Retail Activity Through Trading Frequency. This one is the opposite: it points out periods of elevated activity from the small hands. From this graph, it’s apparent that overheated periods of retail interest coincided with price highs in Gala (GALA). ETH Price At the time of writing, Ethereum is trading around $3,600, down more than 4% over the past week. Featured image from Dall-E, CryptoQuant.com, chart from TradingView.com
Policymakers say dollar-backed tokens cement US dominance but regulator has warned of money laundering risk
Pulling down regulatory barriers to aid innovation ignores the fact that they protect the public from harm
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BitcoinWorld Sidekick (K) Listing: Binance Alpha’s Game-Changing Addition on August 8 Get ready for a significant development in the crypto space! Binance Alpha is set to add Sidekick (K) to its roster of promising early-stage crypto projects. This highly anticipated Sidekick (K) listing on August 8 marks another step forward for innovation within the Binance ecosystem, offering new opportunities for traders and enthusiasts alike. What is Binance Alpha and the Sidekick (K) Listing All About? Binance Alpha operates as a dedicated platform within the broader Binance Wallet. Its core mission is to shine a spotlight on early-stage crypto projects that demonstrate strong potential. These projects are carefully selected based on crucial factors like community engagement and alignment with emerging market trends. The upcoming addition of Sidekick (K) exemplifies this commitment to fostering growth in the decentralized finance landscape. Sidekick (K) represents a fresh face in the crypto world, poised to leverage Binance Alpha’s unique capabilities. This platform doesn’t just list tokens; it actively facilitates on-chain trading. It achieves this by integrating directly with both the Binance Wallet and the main Binance Exchange, creating a streamlined experience for users. Why is This Sidekick (K) Listing Important for Crypto Enthusiasts? The introduction of Sidekick (K) through Binance Alpha brings several compelling benefits to the crypto community. For investors, it means early access to potentially high-growth digital assets. For the projects themselves, it offers unparalleled visibility and liquidity, leveraging Binance’s massive user base. Early Access: Users gain the chance to engage with innovative early-stage crypto projects like Sidekick (K) before they become widely adopted. Enhanced Visibility: Being featured on Binance Alpha provides significant exposure, crucial for new projects. Seamless Trading: The direct integration with Binance Wallet and Exchange simplifies the trading process for Sidekick (K) and other listed assets. Community-Driven Selection: Projects are chosen based on genuine community interest, ensuring relevance and potential. This approach helps to cultivate a vibrant ecosystem where promising early-stage crypto projects can thrive, benefiting both developers and users. How Does Binance Alpha Facilitate On-Chain Trading Seamlessly? A key differentiator for Binance Alpha is its robust integration capabilities. When a project like Sidekick (K) is added, it’s not just a simple listing. The platform ensures that users can perform on-chain trading directly within their Binance Wallet. This removes friction and enhances the user experience significantly. The seamless connection between Binance Alpha, the Binance Wallet, and the Binance Exchange means that users can manage their assets and execute trades without constantly moving funds between different interfaces. This Binance Wallet integration is designed for efficiency and security, which are paramount in the fast-paced world of digital assets. It underscores Binance’s commitment to providing comprehensive solutions for cryptocurrency enthusiasts. Exploring the Potential Impact of Sidekick (K) and Future Trends The addition of Sidekick (K) to Binance Alpha on August 8 could ripple through the market. As an early-stage crypto project , its performance on the platform will be closely watched. Success here could pave the way for other innovative projects seeking similar exposure and integration. Furthermore, Sidekick (K)’s journey will offer insights into how Binance Alpha’s selection criteria translate into real-world market performance. It highlights the evolving landscape of digital assets, where platforms like Binance Alpha play a crucial role in curating and supporting the next wave of blockchain innovation. Keep an eye on August 8 for this exciting development. The Future of Early-Stage Crypto Projects and Binance Alpha Binance Alpha’s continuous efforts to onboard projects like Sidekick (K) underscore a broader trend: the increasing institutional support for nascent blockchain ventures. This support is vital for the sustained growth and maturity of the crypto industry. It provides a structured pathway for innovative ideas to gain traction and reach a global audience, fostering a healthier and more diverse digital asset ecosystem. Conclusion: The upcoming Sidekick (K) listing on Binance Alpha on August 8 represents a notable event for the crypto community. It reinforces Binance’s dedication to supporting early-stage crypto projects and enhancing the on-chain trading experience through robust Binance Wallet integration . As Sidekick (K) steps into the spotlight, it offers an exciting glimpse into the future of decentralized finance and the dynamic opportunities within the Binance ecosystem. Frequently Asked Questions (FAQs) 1. What is Sidekick (K)? Sidekick (K) is an early-stage crypto project that has been selected by Binance Alpha for its potential and community engagement. Its specific functionalities will be revealed closer to its listing date. 2. When will Sidekick (K) be listed on Binance Alpha? Sidekick (K) is scheduled to be added to Binance Alpha on August 8, according to an official announcement from Binance. 3. How does Binance Alpha select early-stage crypto projects? Binance Alpha selects projects like Sidekick (K) based on factors such as strong community engagement and alignment with emerging market trends, aiming to showcase promising new ventures. 4. What are the benefits of Sidekick (K) being listed on Binance Alpha? The Sidekick (K) listing on Binance Alpha offers benefits like early access for investors, enhanced visibility for the project, and seamless on-chain trading directly integrated with Binance Wallet. 5. Can I trade Sidekick (K) directly from my Binance Wallet? Yes, Binance Alpha facilitates on-chain trading by integrating directly into the Binance Wallet and Exchange, allowing for seamless trading of listed assets like Sidekick (K). Share Your Thoughts! If you found this article insightful, share it with your network! Help spread the word about the exciting developments surrounding the Sidekick (K) listing and Binance Alpha’s role in fostering crypto innovation. Your shares help others stay informed in the fast-paced world of digital assets. To learn more about the latest crypto market trends, explore our article on key developments shaping digital asset innovation and market expansion . This post Sidekick (K) Listing: Binance Alpha’s Game-Changing Addition on August 8 first appeared on BitcoinWorld and is written by Editorial Team
BitcoinWorld Urgent Alert: China Warns Against Foreign Firms Collecting Iris Information via Crypto Tokens In the rapidly evolving world of digital assets, a crucial warning has emerged from an unexpected corner. China’s Ministry of State Security (MSS) recently issued a stark alert, urging the public to exercise extreme caution. The warning highlights a concerning trend: foreign companies are reportedly attempting to collect sensitive iris information from users, dangling the enticing bait of crypto tokens . Why is China’s Ministry of State Security Issuing This Warning? On August 6, the MSS utilized its official WeChat channel to share this significant advisory. They did not name the specific overseas company involved, maintaining a focus on the broader threat. The core concern revolves around the surreptitious transfer of user biometric data, particularly iris scans, under the guise of distributing digital currencies. The MSS emphasized that such activities pose a direct threat. This isn’t just about individual privacy; it extends to the broader landscape of data security and even national security. When sensitive biometric identifiers like iris scans are compromised, the implications can be profound and far-reaching. Understanding the Threat: What is Iris Information and Why is it Valuable? Your iris is the colored part of your eye, containing a unique pattern that remains stable throughout your life. This makes it an incredibly reliable form of biometric identification, often considered more secure than fingerprints or facial recognition. Uniqueness: Each person’s iris pattern is distinct. Stability: Unlike fingerprints that can be altered, iris patterns remain constant. Irreversibility: Once compromised, you cannot change your iris pattern, unlike a password. Because of these characteristics, iris information is highly coveted by malicious actors. It can be used for identity theft, unauthorized access to systems, or even to create digital clones of individuals. The MSS’s warning underscores the severe risks associated with its unauthorized collection, especially when lured by incentives like crypto tokens . How Do Crypto Tokens Act as Bait for Personal Data? The allure of free or easily obtainable digital assets, such as crypto tokens , can be powerful. Many companies use token issuance, often through airdrops or sign-up bonuses, to attract new users and build their communities. However, this seemingly generous offer can sometimes hide a darker agenda. In this specific case, the MSS suggests that these foreign entities are using token distribution as a ‘bait’ to compel users to provide their biometric data. Users might be asked to scan their iris as part of a ‘Know Your Customer’ (KYC) process, or as a requirement to receive certain tokens or participate in a new project. Unwittingly, individuals might be trading their invaluable personal data for a speculative digital asset. This tactic highlights a growing concern in the cryptocurrency space: the intersection of digital finance and data security . As more innovative projects emerge, users must remain vigilant about the information they share, particularly highly sensitive biometric identifiers. Protecting Your Personal Data: Actionable Insights The warning from China’s Ministry of State Security serves as a global reminder about the importance of safeguarding your personal data . Here are some actionable steps you can take: Be Skeptical of Freebies: If an offer of crypto tokens seems too good to be true, especially if it requires providing sensitive biometric data, it likely is. Read Terms and Conditions: Always thoroughly review the privacy policies and terms of service before signing up for any new platform or service, particularly those involving digital assets. Understand what data they collect and why. Verify Company Legitimacy: Research the company behind the token issuance. Look for a clear history, reputable founders, and transparent operations. A lack of transparency is a major red flag. Understand Data Risks: Recognize that biometric data, once compromised, cannot be easily changed. Treat your iris information and other unique identifiers with the utmost care. This vigilance is crucial not just for individuals but also for national security, as aggregated biometric data could be exploited for various nefarious purposes. The Broader Implications for Data Security and National Security The MSS’s warning underscores a critical aspect of modern cybersecurity: the escalating value of biometric data. For governments, the collection of such sensitive information by foreign entities raises profound national security concerns. It could potentially lead to: Espionage: Identifying and tracking individuals of interest. Cyberattacks: Using stolen identities to gain access to critical infrastructure. Surveillance: Building comprehensive databases of citizens. While the specific foreign company remains unnamed, the advisory from China’s Ministry of State Security clearly signals a heightened awareness and concern within the Chinese government regarding digital asset activities that could undermine national interests and compromise citizen safety. This incident serves as a stark reminder that the digital frontier, while offering immense opportunities, also harbors significant risks that demand constant vigilance and robust protective measures. Ultimately, this warning is a call to action for everyone engaging with digital currencies. Your personal data is a valuable asset, far more so than any speculative crypto tokens . Protecting your iris information and other biometric data is paramount in an increasingly digital and interconnected world. This post Urgent Alert: China Warns Against Foreign Firms Collecting Iris Information via Crypto Tokens first appeared on BitcoinWorld and is written by Editorial Team
Federal agents seized plans to skirt export laws using false documents and shipments to Singapore and Malaysia.
The founder of the lending firm MyConstant agreed to pay over $10 million to the SEC to settle claims he stole millions to buy the now-collapsed Terra stablecoin.
BitcoinWorld Upbit PROVE Listing: Exciting New Trading Pairs Arrive August 6 The crypto world is buzzing with anticipation! South Korean powerhouse crypto exchange Upbit has just dropped exciting news: the Upbit PROVE listing is officially happening. Traders and enthusiasts are gearing up for the arrival of new spot trading pairs for the PROVE token , a significant development for the digital asset landscape. What Does the Upbit PROVE Listing Mean for Traders? Upbit, a leading crypto exchange Upbit in South Korea, recently confirmed via its official website that it will introduce PROVE token spot trading pairs. This highly anticipated event is set for August 6, 2024, at 06:00 UTC. The listing will include three distinct pairs, offering various entry points for investors: PROVE/KRW : For traders using Korean Won. PROVE/BTC : For those looking to trade PROVE against Bitcoin. PROVE/USDT : Providing a stablecoin trading option against Tether. This expansion by Upbit underscores its commitment to offering diverse trading opportunities to its vast user base. Consequently, this move can attract significant liquidity to the new pairs. Unpacking the PROVE Token and Succinct Network Many are now asking: what exactly is the PROVE token , and why is it gaining traction? PROVE is the native utility token powering the Succinct network . Succinct is a crucial infrastructure provider in the blockchain space, focusing on creating secure and efficient interoperability solutions. The network aims to enable seamless communication and asset transfers across different blockchains, a vital step towards a more interconnected decentralized ecosystem. The PROVE token plays a key role in the governance, security, and operational mechanics of the Succinct platform, facilitating its various functions. Navigating New Spot Trading Pairs on Upbit The introduction of multiple spot trading pairs for PROVE on Upbit offers several advantages for market participants. Spot trading allows users to buy or sell cryptocurrencies for immediate delivery, providing direct ownership. This type of trading is fundamental for price discovery and liquidity. The availability of PROVE against KRW, BTC, and USDT means: Increased Accessibility : Korean users can directly trade with their local currency. Diversified Strategies : Traders can leverage Bitcoin or stablecoins for their PROVE transactions. Enhanced Liquidity : More pairs generally lead to deeper order books and smoother trading experiences. This strategic move by Upbit is expected to significantly boost the liquidity and visibility of the PROVE token , potentially attracting a wider investor base. What’s Next for the Succinct Network and PROVE Crypto? The Upbit PROVE listing is more than just a new trading option; it’s a significant milestone for the Succinct network . Major exchange listings often bring increased exposure, investor interest, and potentially, a broader user base for the underlying project. This heightened visibility can contribute to the project’s long-term growth and adoption. For the PROVE crypto , this listing could mean enhanced market validation and a stronger position within the competitive interoperability sector. As the blockchain ecosystem continues to evolve, projects like Succinct that focus on foundational infrastructure are becoming increasingly important for the industry’s scalability and interconnectedness. The upcoming Upbit PROVE listing marks a pivotal moment for both the exchange and the Succinct network. With the addition of PROVE/KRW, PROVE/BTC, and PROVE/USDT spot trading pairs , Upbit is expanding its offerings while providing the PROVE token with a prominent platform. This development is certainly one to watch for anyone interested in the evolving landscape of digital assets and cross-chain solutions. Frequently Asked Questions (FAQs) Q1: When will PROVE be listed on Upbit? A1: PROVE will be listed on Upbit on August 6, 2024, at 06:00 UTC. Q2: What trading pairs will be available for PROVE on Upbit? A2: Upbit will list PROVE/KRW, PROVE/BTC, and PROVE/USDT spot trading pairs. Q3: What is the PROVE token? A3: PROVE is the native utility token of the Succinct network, which focuses on blockchain interoperability solutions. Q4: What is the Succinct network? A4: The Succinct network is an infrastructure provider that builds secure and efficient solutions for seamless communication and asset transfers across different blockchains. Q5: Why is the Upbit PROVE listing important? A5: The Upbit PROVE listing enhances the token’s exposure, liquidity, and accessibility, providing more trading opportunities and potentially boosting its market validation. Found this update on the Upbit PROVE listing insightful? Share this article with your fellow crypto enthusiasts on social media to keep them informed about the latest developments in the digital asset space! To learn more about the latest crypto market trends, explore our article on key developments shaping digital assets price action . This post Upbit PROVE Listing: Exciting New Trading Pairs Arrive August 6 first appeared on BitcoinWorld and is written by Editorial Team
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