BingX’s User-Centric Approach is Important For Bull Run Breakthrough
The global vision for blockchain extends well beyond Bitcoin and trading platforms. The sector is ripe with technological advancements, particularly in AI and GameFi, underscoring the potential for crypto to catalyze significant, beneficial real-world applications.
Blockchain technology holds promise far beyond what we’ve seen so far. It has incredible potential to revolutionize gaming sectors, creating entertainment and tangible assets through NFTs and beyond. BingX recognizes this and keeps it at the core of our strategy. This is a commitment to integrating emerging Web3 technology that resonates with the evolving demands of its user base. We promise to stay proactive in our engagement with Web3 projects, leveraging a dedicated research team to identify technologies that align with and enhance the platform’s offerings.
Read a bit more about this here in our latest news, and catch some highlights from Token2049!
Playing the Waiting Game in the Crypto Ecosystem This Week
Following the fourth halving, Bitcoin gained traction again over a five-day period but is still negative in the short term, with hold sentiments in the medium and long term. The asset is performing in line with halving predictions and is currently gaining a bit of momentum in the retracing phase. Many are expecting a breakout if $67,000 is crossed. There is still a lot to be excited about within the Bitcoin ecosystem. Bitcoin is transforming as a chain and is being considered in a different light similar to other, more versatile, L1s. With more opportunities to build, Bitcoin layer two chains are becoming increasingly in demand. In fact, the layer twos on Bitcoin are outperforming the actual asset, showcasing the demand.
Analyzing Ethereum is a bit more complicated as it faces various levels of scrutiny. The asset is suspected of having a rising trend in the medium term while hovering around $3,150. A negative volume balance signals aggressive selling activity alongside passive buying, which depreciates the currency’s strength. Furthermore, spot Ethereum ETFs are being heavily scrutinized, with many losing hope that there will be an approval. With all of this considered, the asset is still positive in the long term, and many are holding.
In fact, that is now all of the Ethereum drama. Developer Consensys is suing the SEC over the “Unlawful Seizure Of Authority” over Ethereum. The company wants a federal court to declare that Ethereum is not a security, in line with their previous statements, following a Wells notice issued to them on April 10th.
The SEC is attempting to claim that Ethereum is a security, which would make Consensys an unlicensed broker. According to Coindesk, Consensys is looking to clarify three points, “that ETH is a commodity; second, that the most popular Ethereum wallet, developed by Consensys, is not a broker; and lastly, to get an injunction to leave developers alone and preemptively prevent the SEC from suing the company.”
Within the lawsuit filed by Consensys, they stated, “The U.S. Securities and Exchange Commission seeks to regulate ETH as a security, even though ETH bears none of the attributes of a security — and even though the SEC has previously told the world that ETH is not a security, and not within the SEC’s statutory jurisdiction.”
This is still a developing story, and is to be monitored since the outcome would have a global impact.
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About Me
Check out my commentary on the impacts of the Bitcoin halving with Coinpost here.
Interview with Yurufuwa at TOKEN2049.
I had a fantastic chat with WU Blockchain about BRC20, BingX’s strategy in 2024, and my professional background. Check out the article linked here!
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