Changpeng Zhao, the enigmatic founder of cryptocurrency giant Binance, has sparked a storm of speculation with a recent social media post hinting at a potential career change. After a legal battle with the U.S. Department of Justice that resulted in a surprisingly lenient ruling, CZ, as it is known in the cryptocurrency world, may be trading spreadsheets for scribbles. Binance in the hot seat The past few months have been a turbulent time for Binance. The exchange, which once dominated the cryptocurrency market with massive trading volume, has become embroiled in a legal dispute with U.S. authorities. Although the specifics…
Author: Crypto Flexs
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Ethereum ETH -2.30% Co-founder Vitalik Buterin proposed new Ethereum improvement proposals. EIP-7706 proposes a new gas category for transaction call data.Ethereum transactions currently involve two main types of gas: One is for execution, which deals with the computational effort required to process a transaction, and the other is for storage, which is the cost associated with storing the data as a “blob.”Buterin’s proposal recommends setting up a third type of gas specifically for call data, a segment of an Ethereum transaction that carries the data sent to a smart contract when a function is called.This latest proposal was introduced just…
Last week, Jack Melnick, head of DeFi at Polygon (MATIC) Labs, announced that he was leaving the company. Melnick has now revealed his new role at Cosmos-based Berachain. Despite the move, Melnick insisted he maintains a positive outlook on Polygon. Another Polygon (MATIC) Labs executive joins. In recent months, the project has withstood an onslaught of key executives over competing projects, from president in November 2023 to head of business development in January 2024. Now the company’s former head of DeFi, Jack Melnick, has followed suit. He announced his departure last week. Melnick Announces New Role On Monday, May 13th,…
Chainlink’s LINK price is struggling to break above the $13.80 resistance. A break above the $13.00 support could lead the price to continue falling. Chainlink price is showing bearish signs below the $14.00 resistance level against the US dollar. The price is trading below the $13.60 level and the 100 simple moving average (4-hours). There is a major bearish trendline forming on the 4-hours chart of the LINK/USD pair with resistance near $13.50 (data source from Kraken). Breaking out of the $13.80 resistance area, the price could begin a significant rise. Chainlink (LINK) price turns red Over the past few…
Binance Spot Introduces New Trading PairsIn an effort to enrich the trading selection list and improve users’ trading experience, Binance Spot will open trading for FRONT/USDC, PEOPLE/TRY and TRB/USDC trading pairs on 2024-05-15 08:00 (UTC). commences. This move is part of Binance’s ongoing efforts to provide users with a variety of trading options.Activate trading bot serviceIn addition to new trading pairs, Binance will also enable trading bot services for these pairs. Trading bots automate the trading process, making it easier for users to execute trades based on specific market conditions. This service is available from…
WorldCoin (WLD) plummeted about 9% in value in just 24 hours, settling at around $5.20. This decline is consistent with critical analysis published by DeFi^2 (@DefiSquared), currently a top trader on cryptocurrency exchange Bybit. High Concerns about significant inflationary pressures and potentially misleading marketing associated with Worldcoin. Notably, the WLD plunge comes shortly after OpenAI, the creator of ChatGPT, announced plans to release a cutting-edge AI model called GPT-4o on Monday. This advanced model boasts the ability to engage in life-like voice conversations and interact seamlessly across text and images. Worldcoin is usually the beneficiary of OpenAI announcements, but this…
Binance Introduces Taker Fee Promotion In an interesting move for altcoin traders, Binance announced a taker fee promotion for spot and margin altcoin trading pairs. Promotion starts at 2024-05-21 00:00 (UTC) and continues until further notice. This move is expected to encourage increased trading activity on the platform. Promotion Details During the promotion period, all users of the Binance platform can enjoy discounted taker fees on various altcoin spot and margin trading pairs. The list of trading pairs includes PEPE/USDTSTRK/USDT, ENA/USDT, SUI/USDT, WIF/USDT, NEAR/USDT, OP/USDT, BONK/USDT, LTC/USDT, FET/USDT, ORDI/USDT, BCH/USDT, W/USDT, ARB / USDT, LINK/USDT,…
The emergence of various blockchain scaling solutions has sparked discussions about the differences and roles of Layer 1, Layer 2, Layer 3, parachains, and sidechains in the evolving cryptocurrency ecosystem. Understanding these concepts is important for developers, investors, and users navigating the complex landscape of blockchain technology. However, it is not always clear what type is what and why we need so many types.Layer 1 blockchains such as Bitcoin, Ethereum, BNB Chain, and Solana form the basic architecture of blockchain networks. These base layer protocols handle the execution, data availability, and consensus aspects of the network, validating and finalizing transactions…
Bitcoin (BTC) threatened to give back its first week of gains on May 14 as macro data reports showed increased volatility.BTC/USD 1-hour chart. Source: TradingViewBTC price “bahts” up and down with PPI, Powell.Weak BTC prices entered the hourly session, falling as low as $61,440 on Bitstamp, according to data from Cointelegraph Markets Pro and TradingView.BTC/USD soared to $63,450 the previous day, a level where short selling was clearly at risk.“If Bitcoin can clear $63,000, overleveraged shorts will come under pressure,” trading resource Material Indicators warned in part of a post about X at the time.Binance’s BTC/USDT order book data as…