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Cryptocurrency

These Altcoins Plummet Following Delistings from Binance

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TL;DR

  • Binance will delist four cryptocurrencies on July 22, causing their prices to drop significantly.
  • Deposits and withdrawals of these assets will cease on July 23 and October 22, respectively.

No More Support for These Cryptocurrencies

The world’s largest cryptocurrency exchange, Binance, regularly updates its services to enhance user experience. It often adds new trading pairs to respond to ongoing market trends or removes existing digital assets from its platform due to various factors (such as poor trading volume and liquidity, level of public communication, stability of network from attacks, and others).

It recently announced the delisting of BarnBridge (BOND), Dock (DOCK), Mdex (MDX), and Polkastarter (POLS). Support for all spot trading pairs involving the aforementioned will be terminated from July 22. 

“The exact trading pairs being removed are BOND/BTC, BOND/USDT, DOCK/BTC, DOCK/USDT, MDX/USDT, POLS/USDT. All trade orders will be automatically removed after trading ceases in each respective trading pair. The token’s valuation will no longer be displayed in your wallet after delisting. To view your assets after trading ceases, please ensure you have not selected “Hide Small Balances” in all of your wallets,” the firm revealed.

Binance added that deposits of these assets will not be credited after July 23, while withdrawals will be halted after October 22. 

The affected trading pairs will also be delisted from Binance Loans, Binance Auto-Invest, Binance Margin, Binance Convert, Binance Buy & Sell Crypto, Binance Pay, and Binance Trading Bots.

All of the cryptocurrencies involved in the upcoming effort saw their prices crash by double digits shortly after the disclosure. DOCK was the worst affected, with its valuation collapsing by 50% on a 24-hour scale.

DOCK Price
DOCK Price, Source: CoinGecko

Removing a certain digital asset from a major platform like Binance can lead to a substantial price decline due to reduced liquidity, reputational damage, decreased investor confidence, and other setbacks. 

The same thing happened earlier this year when the exchange delisted Monero (XMR). The move was followed by a 35% price plunge for the popular privacy coin.

Binance’s Previous Update

Less than a week ago, the exchange ceased trading services with the following six pairs: BTC/AEUR, ETH/AEUR, AI/TUSD, CHR/BNB, GAS/FDUSD, and LQTY/FDUSD. The prices of the affected coins tumbled significantly, coinciding with the broader market decline at that time.

On the other hand, the company included WIF/BRL, ZK/USDC, and ZRO/USDC to Binance Spot. It is worth mentioning that the service is not available to all users:

“Currently, users residing in the following countries or regions will not be able to trade the above-mentioned spot trading pair(s): Canada, Cuba, Crimea Region, Iran, Netherlands, North Korea, Syria, United States of America, and its territories (American Samoa, Guam, Puerto Rico, the Northern Mariana Islands, the U.S. Virgin Islands), and any non-government controlled areas of Ukraine.”

 

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Cryptocurrency

Bitcoin Price Crashes Below $100K as Iran Votes to Close Straits of Hormuz

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Bitcoin’s price has crashed below $100,000 for the first time since May 25th, charting a decline of around 4% in the past 24 hours alone. The cryptocurrency is down 5.5% throughout the last seven days.

BTCUSD_2025-06-22_17-42-47
Source: TradingView

The market downturn has also caused a broader selloff amongst altcoins, most of which are deep in the red, resulting in almost $1 billion worth of liquidated positions, according to CoinGlass.

As CryptoPotato reported earlier today, the US joined the war between Israel and Iran, striking three strategic nuclear Irany sites.

In response, some media reports indicate that the Iranian Parliament has voted in support of closing the Strait of Hormuz – one of the world’s most criticial oil transit chokepoints.

This resulted in immediate increase in oil prices, which are up almost 1% on the day, sparking international fears of inflation and economic turmoil. Traders are seemingly derisking and it’s interesting to see how deep this correction will extend.

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Cryptocurrency

Bitcoin Demand is Drying Up, What Does This Mean? (CryptoQuant)

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As bitcoin (BTC) attempts to recover from the effects of tensions in the Middle East, demand for the digital asset is drying up. Market experts from the on-chain intelligence company CryptoQuant have discovered that Bitcoin demand is entering a slowdown period.

According to the latest CryptoQuant weekly report, the decline in Bitcoin demand comes after a period of acceleration that pushed the price of BTC towards $112,000. Demand-momentum metrics are currently showing their most negative readings on record — -2 million BTC.

Bitcoin Demand is Weakening

CryptoQuant revealed that Bitcoin spot demand has continued to grow but at a decelerated expansion rate. Apparent demand growth has fallen to 118,000 BTC over the last 30 days, compared to 228,000 BTC recorded on May 27. The metric is also below its 30-day moving average, indicating that the demand for BTC is weakening.

Bitcoin whale and spot exchange-traded funds (ETFs) have halved their purchases. The expansion of whale balances has fallen to 1.7% month-over-month (MoM) from 3.9% as of May 27. Daily BTC purchases from ETFs are also down from an April 23 local peak of 9,700 BTC to 3,300 BTC today.

Additionally, demand from new participants entering the Bitcoin market is low, and overall demand momentum has turned negative. Short-term holders now account for 4.5 million BTC, a decline of 0.8 million BTC from the 5.3 million BTC they controlled as of May 27.

Furthermore, investors in the futures market have sold their BTC to lock in profits and are currently opening new short positions. CryptoQuant said its Bitcoin Traders’ Behavior Dominance metric shows that participants offloaded their coins to take profits after BTC hit $110,000 last week. Afterward, they opened fresh short positions as BTC below $105,000 amid rising tensions between Israel and Iran.

What to Expect

For BTC to experience a sustained rally, whales and spot ETFs need to increase their demand for the cryptocurrency. New investors also need to buy BTC from the old ones, thereby expanding the balances of short-term holders.

If demand continues to decline, BTC could plummet below $100,000 and fall to the support zone near $92,000. The crypto asset was hovering around $102,700 at the time of writing following the attacks from the US against Iran.

Meanwhile, CryptoQuant has identified $92,000 as the Traders’ On-chain Realized Price, which often acts as price support during bull markets. If BTC falls below this level, it could plunge to $81,000, which has been marked as the lower band of the Traders’ On-chain Realized Price.

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Max Keiser Predicts $800K BTC from ‘Bond Apocalypse,’ Markets Eye $93K

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At the time of this writing, Bitcoin (BTC) was a couple of hundred dollars under $103,000, after dipping 4% in 24 hours, but Max Keiser is suggesting this volatility is mere tremors before a seismic surge to $800,000.

In a sit-down with Bitcoin Magazine’s Isabella Santos, the legendary BTC prophet claimed that the 10-year Japanese Government Bond (JGB) yield is the “lynchpin” threatening financial collapse and triggering Bitcoin’s epic moon mission.

The Road to $800K

In the interview, the Bitcoin bull laid out a doomsday scenario that could potentially lead to an astronomical spike in the king cryptocurrency’s price:

“There is one piece of data that is the lynchpin of the entire global financial system… It’s the rate of interest on the 10-year Japanese bond,” Keiser declared.

Currently, the yield is at about 3.5%, and any higher, the market watcher warned, could potentially lead to the collapse of the decades-long “yen carry trade,” where Wall Street borrowed near-zero-yen to fuel speculative investments.

“The Japanese economy is going to have to start selling U.S. Treasury bonds to stay solid, which would create a cascading event, what I call the bond apocalypse, where the global bond market crashes.”

He stated that if this were to happen, then trillions of dollars’ worth of capital would flee collapsing government debt and rush straight into BTC.

“In that environment, Bitcoin spikes to $500,000, $600,000, $800,000.”

Bearish Caution

While Keiser’s prediction might have gotten the crypto community on X talking, the market remains rather tense and confused. Pseudonymous trader Mr Wall Street hinted at a potential short-term nosedive to the $93,000 to $95,000 range, warning that the charts were “screaming for lower.”

Still, voices of resilience have been piping up, with analyst Axel Adler Jr. pointing to rising long liquidation dominance without a major price crash as a “good signal,” suggesting strong underlying buyer support.

Additionally, on-chain sleuth DeFiTracer sees cooling Middle East tensions due to Iran’s apparent openness to talks as well as Fed member Christopher J. Waller’s signal for July rate cuts as bullish signals. He suggested these catalysts are quietly shifting markets from uncertainty “into the trust phase.”

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