Connect with us
  • tg

Cryptocurrency

Binance Luna Classic news: the exchange raised leverage on LUNA Classic futures (LUNC) to 25x

letizo News

Published

on

binance Luna Classic news

Binance Luna Classic news: On September 9, Binance announced the launch of a new perpetual LUNC token futures with leverage of 25x. The futures will be settled in USDT. The news helped the token resume growth after an intraday correction.

In May 2022, Binance delisted LUNA-linked derivatives and reduced leverage on perpetual contracts from 25x to 8x, citing a desire to mitigate the crisis.

Binance said it would support a transaction tax on LUNC transactions, which involves burning 1.2% of the transaction amount. Such a tax will be levied starting Sept. 20, on a block of 9,475,000, but will apply only to deposits, and withdrawals. It will not apply to margin and spot market transactions.

Earlier, the decision to impose a transaction tax on Terra Classic was approved by the ecosystem community. These measures are expected to help raise the value of the token.

Since the Luna token fell into the death vortex, the volume of coins in circulation has grown to 6.2 trillion. Therefore, despite its paltry value – $0.00045 at the time of publication – LUNC is in 27th place in the ranking of cryptocurrencies by market capitalization size.

Current price of Luna Classic and potential top of LUNC

Earlier, the LUNC exchange rate reached important resistance levels. The technical picture suggests that LUNC has already reached the top.

Moreover, the LUNC exchange rate has already started to decrease. On Friday the token tested the low at $0.00036, which is 40% below the peak. Then the price rushed upward again, forming a long lower shadow on the candlestick chart (green icon).

Despite that, the price is still within the A-B-C corrective structure and it is at risk of falling into the range of $0.00028-$0.00034, marked by the Fibonacci retracement levels.

Previously, we reported that Terra Classic introduced new transfer taxes on the network.

Cryptocurrency

Something Funky Has Been Happening to the Bitcoin Markets Since 2021: Details

letizo News

Published

on

The number of Bitcoin (BTC) deposit addresses on exchanges has dropped sharply. Such a pattern points to a deepening long-term conviction among investors.

Data reveals a dramatic reversal in behavior that began after the 2021 cycle peak. Between 2015 and 2021, the number of unique addresses depositing BTC to exchanges steadily increased, averaging 180,000 annually. However, since 2022, that trend has not only stalled, but it has declined consistently.

BTC Exchange Deposit Trend Reverses

According to CryptoQuant’s latest analysis, the 10-year average now stands at approximately 90,000, while the current 30-day moving average is just 48,000. On a daily basis, the number of depositing addresses has dropped to around 37,000, recording a multi-year low. Analysts say that this indicates a growing preference for holding Bitcoin rather than trading it.

The launch of spot Bitcoin ETFs has played a key role, which gave institutional and retail investors access to BTC’s price performance without needing to move or manage the asset directly. Additionally, lower retail trading activity in the current cycle has reduced active deposit behavior.

At the same time, an increasing number of investors, and even corporations, are adopting a savings-oriented approach, treating Bitcoin as a long-term reserve rather than a speculative instrument.

The report said,

“These shifts, which have emerged gradually over time, are precisely what drive Bitcoin’s evolving identity in financial markets. It may well be this transformation that ultimately solidifies BTC’s role as a store of value.”

This sentiment in investor behavior is echoed on a macro scale.

Bitcoin As Modern Reserve Asset

Bitcoin is increasingly seen as a strategic asset for nations seeking to strengthen economic resilience in the current global landscape, according to a recent report by CoinShares. The cryptocurrency’s potential to hedge inflation, diversify sovereign portfolios, and offer protection against geopolitical instability positions it as a modern complement to gold and foreign exchange reserves.

While the US decision in 2025 to add Bitcoin to its reserves is a crucial moment, CoinShares noted that the ongoing skepticism among economists who highlight its volatility and speculative nature.

Despite this, with rising global debt, inflation, and mounting geopolitical tensions, more governments are exploring alternatives. Brazil’s RESBit proposal and Russia’s reported interest in Bitcoin reserves suggest a competitive push to secure a share of the asset’s fixed supply. With a $2 trillion market cap and growing institutional presence, Bitcoin is increasingly viewed as a credible reserve option alongside traditional holdings.

SPECIAL OFFER (Sponsored)
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!

Continue Reading

Cryptocurrency

Shocking Amount of BTC Absorbed by Buyers During Recent Market Turmoil

letizo News

Published

on

Bitcoin (BTC) has once again surged past $105,000, propelled by the easing of geopolitical tensions in the Middle East; however, an even more noteworthy story lies beneath the surface: the market has absorbed a colossal wave of profit taking without collapsing.

About 720,000 BTC, sold mainly by recent buyers since mid-April, has been met with an equally strong demand, preventing a more resounding crash despite a $66 billion surge in the Realized Cap of coins held for less than one month.

Profit-Taking Meets Fresh Demand

According to on-chain analyst Axel Adler Jr., the $66 billion increase in Realized Cap for the 0-1 month cohort since April 13 is definitive proof of large-scale profit realization by short-term holders.

While such aggressive selling pressure would typically trigger significant downside, Adler highlighted a critical counterforce: new buyers entering the market have been steadily absorbing this massive supply.

In his opinion, this offsetting has kept Bitcoin trading within a relatively narrow range in the last few weeks.

However, his UTXO Block Profit/Loss Count Ratio Model indicates the profit-taking frenzy may have subsided, dropping from an extreme 34,000 points near BTC’s all-time high in May to just 216 points today.

“Profitable sales have almost disappeared,” noted Adler, while the proportion of loss-realizing transactions has increased. The likeliest explanation is that the wave of eager sellers has largely passed, replaced by buyers accumulating at lower levels, reducing the immediate risk of a sharp crash.

Meanwhile, the global markets are experiencing a sense of relief thanks to an unexpected ceasefire between Israel and Iran. U.S. President Donald Trump confirmed a “Complete and Total” cessation of hostilities, quelling fears of a deeper conflict.

Following that, investors like Daan Crypto Trades and Michaël van de Poppe echoed cautious optimism on X, pointing out that reduced geopolitical risk could ease headline-driven volatility and help Bitcoin regain upward momentum.

What’s Next for Bitcoin?

Indeed, BTC has staged a noticeable recovery since dipping below the symbolic $100,000 mark after the U.S. unleashed airstrikes against several Iranian nuclear installations last week. As of this writing, the king cryptocurrency had climbed 3.8% in the last 24 hours to hover around $105,400 after going as high as $105,927 during the Asian trading session.

On a weekly scale, it remains slightly underwater, down about 1.1%, which is a modest underperformance compared to the broader crypto market’s 0.4% gain over the same period.

The asset also experienced a slight 1.7% dip over the last 30 days, reflecting recent liquidation cascades and historical Q3 headwinds. As analyst Benjamin Cowen previously highlighted, Bitcoin often struggles through the summer months. Past bull cycles saw steep drops of 25–35% between June and July before roaring back in late Q4.

SPECIAL OFFER (Sponsored)
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!

Continue Reading

Cryptocurrency

Nano Labs Bets $500M on Binance Coin (BNB) as Treasury

letizo News

Published

on

Nano Labs, a Nasdaq-listed crypto infrastructure company, has announced a $500 million convertible note deal that it will use to acquire BNB as a strategic treasury reserve.

The Hong Kong-based firm, known for designing crypto mining chips, is targeting up to $1 billion worth of BNB, which will eventually put its holding at between 5% and 10% of the token’s entire circulating supply.

BNB Ecosystem Integration

The company’s aggressive move represents a major strategic pivot. It previously focused on Bitcoin (BTC), adopting it as a reserve asset and buying $5.5 million worth of the cryptocurrency late last year.

According to a press release, funding for the BNB accumulation will be provided through convertible notes that mature in 360 days. After that, they’ll be converted into Nano Labs shares at $20 each.

Applauding the initiative, Binance founder Changpeng Zhao clarified that none of his “affiliated entities” participated in the fundraiser, though he remains “extremely supportive.”

Nano Labs is also planning to apply for Hong Kong stablecoin licenses and has specifically mentioned building frameworks for Bitcoin and BNB.

The two developments suggest a cohesive strategy by the firm to position itself at the heart of Hong Kong’s burgeoning regulated crypto market, leveraging the recently passed Stablecoins Bill, which is set to become effective at the beginning of August.

Market Reaction

Since the announcement, Nano Labs’ stock has skyrocketed 163% in pre-market trading according to Google Finance, signaling intense investor interest.

However, the immediate impact on the price of BNB has been more measured. As of this writing, the token had seen a 3.3% increase in the 24 hours following the disclosure, to trade around $638. Nonetheless, this uptick occurred against a backdrop of recent weakness. BNB has been down 2.5% over the past seven days and 3.5% in the last month, underperforming the global crypto market, which is up a slight 0.10% weekly.

Furthermore, technical analysis prior to the news breaking indicated BNB was in a downtrend since being rejected at the $692 resistance in late May, with critical support levels at $630 and $600.

While the Nano Labs commitment provides fundamental support, BNB may still face an uphill battle to reclaim its bullish momentum and challenge its all-time high of $788.84, reached just seven months ago in December 2024.

SPECIAL OFFER (Sponsored)
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!

Continue Reading

Trending

©2021-2024 Letizo All Rights Reserved