A recap of notable news from the week.
DeFi News From Last Week
Cryptocurrency never sleeps, and neither does crypto news and content. Because of this constant stream of information, it’s difficult for investors to keep track of the most notable news. In this weekly recap, BSC News shares some of the most exciting stories and breaking news events of the week to help you stay up-to-date on all things DeFi.
Tiny World Game Continues to Grow Since Being Named BNB Chain “Star”
GameFi has become a heavily established arm of the cryptocurrency sector, creating significant competition between GameFi developers and projects. This can make it difficult for a project to stand out or gain public attention without a little help. Tiny World Game was named to BNB Chain’s July Project Stars list and has since turned in impressive numbers - we caught up with CMO Adam Bauldry to discuss this growth and the launch of their SPIRIT NFTs.
Read more about the recent success of the GameFi project here.
Duck vs. Bear: RichQuack Social Activity Battles General Crypto Downturn
RichQuack, a hyper-deflationary meme token based on BNB Chain, has long impressed many with its impressive social media presence. With success built off of constant giveaways and interaction with the community, RichQuack has spent a large portion of the last month sitting atop the social score rankings, according to data from LunarCrush. Despite this imposing presence on social media, the $QUACK token has trended in the opposite direction in a market filled with bearish sentiment.
Read more about the token’s social media and price trends here.
FTX Wins Bidding War Against Binance for Voyager Assets
The crash of Terra/LUNA had catastrophic consequences for the entire crypto market, with investment funds like 3AC, Celsius, and Voyager seeing their liabilities soar during the ensuing market spiral. This has led to some firms auctioning off their assets to cover losses, with Voyager making the headlines thanks to a bidding war between Binance and FTX. While it was reported that Binance was in a strong position to purchase the assets, FTX was able to place a $1.4B bid that bested all other offers to claim ownership.
Check out what the auction results mean for Voyager account holders here.
New Life in Luna Classic? CZ Announces Binance LUNC Burn Mechanism
Despite the news that South Korea had issued a “red notice” to Interpol regarding the search for and arrest of Luna Classic ($LUNC) founder Do Kwon, the revised version of the fallen $LUNA actually saw a spike in value recently - thanks to Binance. On September 23, Binance CEO Changpeng Zhao (CZ for short) announced on Twitter that the exchange would support the 1.2% transaction burn fee by burning all trading commissions collected on $LUNC spot and margin pairs against $BUSD and $USDT. A scant 5 minutes later, the price of $LUNC had soared by 25%.
Read more about the exchange’s plans in this article.
What are the Top 5 NFT Marketplaces on BNB Chain
While not as known for NFTs as other chains, the NFT community on BNB Chain has been gaining more momentum in recent times. This has led to a variety of NFT marketplaces launching on the chain, with some seeing more success than others. BSC News did a little research into these marketplaces and concluded that these are the top 5 marketplaces on the chain in terms of trading volume:
- Element Market
- PearDAO
- Radio Caca Market
- Liquidifty
- BitKeep NFT Market
Check out this article to learn more about each marketplace.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
Related News
Algotech’s Game-changing $3.1M Presale Grabs Attention From Dogwifhat (WIF) As SUI Surges
Sui (SUI) price surges due to increasing user base and strategic collaborations. Dogiwifhat’s investors turned to Algotech after WIF faced speculations about further price drops.
After a correction phase in the broader crypto market, many coins are gaining momentum once again. Sui (SUI) has emerged as a stand-out choice for investors amid market recovery with its readily expanding user base and positive price trend.
In the meme coin space, Dogiwifhat (WIF), after leading the meme coin rally in the past week, is showing a downward trajectory. Due to WIF’s utter hype-oriented tokenomics, investors are speculating about its long-term viability and are shifting to projects with real-time utility in the Defi sector.
SUI shows strength after reaching 600k daily active accounts
Sui (SUI) is making notable strides in the crypto space with a massive surge in price momentum and trading volume. The project has made headlines, notably after the announcement of THORwallet’s integration with Sui for staking purposes. This collaboration streamlines staking, providing users with a simpler and more accessible way to enhance blockchain security and efficiency.
Sui recently achieved a major milestone, surpassing 600K daily active accounts. According to DeFiLama data, Sui's total value locked (TVL) has a favorable short-term trend. With the project's commitment to bringing new dApps online, there is potential for this price momentum to persist in the long run.
At present, the SUI token is valued at $2.1, indicating a notable surge of 13% on the intraday chart. The network is experiencing substantial investor activity, evident by a 140% surge in trading volume. With an optimistic outlook on the project, SUI is demonstrating the massive potential and is poised for significant gains in the upcoming weeks.
WIF whales shift focus after the price drops 4.5% in 24 hours
Dogifiwhat's (WIF) recent surge in the meme coin frenzy due to massive whale traffic has started to fade. The token flipped many meme coins in its recent rally to a $3B market cap just after months of launch, which proved to be a significant milestone for the meme coin. WIF price has dropped by 4% in a day, along with a declining market cap.
While some analysts indicate a positive comeback for the token, others predict a further decline in its price towards $2 by mid-April if the current trajectory persists. Amid these speculations, WIF investors are turning their attention to an emerging project currently in its presale phase, expected to yield 1200x returns once it launches on major exchanges.
Algotech (ALGT) grabs market by surge with its $3.1 million presale
Algotech (ALGT) has stolen the spotlight from meme coins like WIF as having more upside potential for massive gains. With a ground-breaking presale of $3.1 million in stage 2, Algotech stands out as the top choice for investors in the crypto sector.
The algorithmic trading platform of Algotech offers cutting-edge features like momentum trading, breakout detection, and arbitrage trading. Supporting over 10,000 trading pairs, the platform aims to empower traders with automated trading strategies and key market stats to capitalize on investments.
With over 75 million tokens sold in just three weeks to 9,000 unique holders, ALGT tokens are currently in hot demand. Investors are rushing to grab the tokens at $0.06 before they go up to $0.08 in the next round. Analysts predict that the token will reach $1 before it hits major exchanges, which makes this an ideal time for early investors to join Algotech.
Learn more:
Disclaimer: This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $400. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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