Binance shares hot and cold wallet crypto addresses and details about SAFU Fund
The Binance blog narrates information related to the world’s largest exchange and notes that as of Thursday, it holds 475,000 bitcoin, 4.8 million Ether and 17.6 billion Tether. Binance CEO Changpeng Zhao said that Binance is offering proof-of-reserve. The exchange has shared other connected hot and cold wallet addresses, including BTC ETH, BSC, BNB and TRX. The Binance Fund now stands at $1B which is yet another part of our commitment to building the most secure equitable blockchain mechanism.“
Bitcoin Price Outlook for November – FTX Crisis Fuels Bearish Momentum.
The cryptocurrency price has been in a free fall initially, which has triggered a significant bearish sentiment on FTX. In search of investment, traders have gone for their better position in the market, gold is one of these safe havens. While gold has hit month highs, market volume is down by $173.16 billion in 24 hours. BTC is currently trading at $16,932.90 and the price has rebounded from lows of $15,682.69. There is a sign of bearish momentum, and some are still expecting BTC to drop to $13,500 in the coming weeks.
CRYPTOCURRENCY
Bitcoin, Ether in danger. What’s next for the cryptocurrency market?
The cryptocurrency market fell for the second day in a row after Binance canceled its deal to acquire rival FTX. The price of the major digital asset under bitcoin fell to lows that headed towards $15,000, down nearly 10% in 24 hours, before rallying to around $16,800.
The second-largest cryptocurrency by Ethereum, one first fell to $1,087.08 and halted at around $1,180, down almost 10% from the previous day. Among other cryptocurrencies, Binance (BNB) has 10%, Ripple (XRP) declined 5%, Cardano (ADA) 6%, Dogecoin (DOGE) 7% and Solana (SOL) 30%.
JP Morgan thinks the crypto market will face weeks of deleveraging – he warns that the price of bitcoin could drop to $13K.
The collapse of Alameda Research and FTX could turn this new phase of crypto deleveraging into more difficult situations. Crypto investors are concerned about FTX.com and trading house Alameda Research. Binance was asked to acquire FTX and provide liquidity. But later, walked away from the deal. The global investment bank warned that the crypto market could face losses arising out of the FTX crisis, at the moment, it costs $15,000 to produce, but is expected to revisit the low of $13,000 seen in the summer months. Chances are. BTC is currently trading at $17,602, up 11% over the past 24 hours but down 13% over the past seven days.
Cryptocurrency lending company BlockFi halted customer withdrawals as a reason for a ‘lack of clarity’ on the status of FTX.
The company said that they found out about the state of FTX on Twitter, feeling “shocked and disappointed” by the development of the issue. Finally, BlockFi said it would inform customers about the development as it worked further. This is according to statements made by BlockFi co-founder Flory Marquez, “All BlockFi products are fully operational.” The company said it was limiting its services until further notice.
The USD exchange rate for TRX jumped 270% higher on FTX after the exchange brokers struck a deal with Tron.
Exchange FTX said it has struck a deal with Tron to allow holders of Tron-based coins to withdraw tokens to external wallets in a 1:1 ratio. While Tron achieved a high of $0.06 per coin on Thursday, according to the coin market sites. It touched a high of $2.49 per coin against the US Dollar on FTX. According to the founder of Tren, this is the first initial step towards a complete solution that is being designed to revive FTX users and return to normalcy. Tron (TRX) peaked at $2.49 per token on the exchange. The token SUN is up 168.87% on FTX and JST has jumped 1,346.57% on the exchange in 24 hours.
Elon Musk says Twitter may offer debit card, money market accounts.
Elon Musk pointed out that social media platforms could offer “an extremely attractive money market account” in addition to debit cards, checks.
According to Elon Musk, if you have a balance in your account and you want to send money to someone else within Twitter or maybe we add ₹ 10 to his account in advance and say, we promise to give you 10 rupees. You can send it anywhere within Twitter and get the balance out of Twitter and there will also be a compelling money market account offering to deliver extremely high yields.
