Since 2017 Binance has grown quickly to reach its current position. However, the rise of this crypto giant was not smooth. In the quickly changing environment of cryptocurrency, government regulations are often several years behind the cutting edge. This was the case for Binance, which came into repeated conflict with government regulations of multiple countries in the years after it was founded, including, eventually, the United States. Originally founded in China, Binance has since moved its headquarters several times.
The former US banking regulator and crypto enthusiast is resigning at a time when regulators in Hong Kong, Britain, Germany, Japan, Italy and Thailand have cracked down on Binance due to worries over investor protection. Watchdogs globally also fret that the boom in cryptocurrencies is aiding money laundering and increasing systemic risks.
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Now that Bitcoin has reached the channel’s lower trendline, an upswing toward its middle or upper trendline could be underway. These crucial areas of resistance sit at $66,000 and $70,000 respectively.
With IG, you can trade cryptocurrencies via a CFD account – derivative products that enable you speculate on whether your chosen cryptocurrency will rise or fall in value. Prices are quoted in traditional currencies such as the US dollar, and you never take ownership of the cryptocurrency itself.
The bears tried to pull Bitcoin below the breakout level at $67,000 on Nov. 9 but they could not sustain the lower levels. The modest pullback indicates that bulls are buying on every minor dip.
Bitcoin and some other cryptocurrencies’ values have skyrocketed in recent years. Bitcoin’s price has more than doubled in 2021, and Ethereum has more than quadrupled in value this year.
Bitcoin was trading 1.5% lower Thursday morning. The price was around $59,000 per coin.
In late July, Elon Musk said Tesla was "most likely" to start accepting bitcoin as payment again. The comment helped the cryptocurrency race past the $30,000 level.
The market seems to have taken a turn this morning as a correction has set in. Both BTC and ETH have witnessed a small correction, said Zebpay Trade Desk. The same is happening in altcoins as well, it added.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/102191
However, as scheduled, the Binance community should expect the Axie-listing today exactly at 8 am EST / 5 am PST. As we are all waiting for the event, users currently have the option to deposit their AXS in preparation for trading.
Business News›Markets›Cryptocurrency›Top cryptocurrency prices today: Solana, Binance Coin fall; XRP jumps 9%
Shiba Inu Coin Price Prediction: Is the ‘Dogecoin Killer’ about to get even better?
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