The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Many investors dismiss BNB as simply "the Binance coin," but that designation fails to recognize the potential arising from its broader value unlock, says Osprey Funds’ Matt Gerics.
It's the first institutional investment in the crypto exchange and the investment was made in stablecoin, Binance said.
The financing MGX's first investment into a crypto and blockchain firm, with MGX also acquiring a minority stake in Binance.
Bitcoin’s price has once again turned bearish after briefly recovering to $94,000 on Monday. Notably, the cryptocurrency had shown signs of strength earlier this week following a period of decline, but the recovery was short-lived. As of today, Bitcoin slipped below $90,000, marking a 1.8% decrease in the past 24 hours. According to CryptoQuant analyst Crazzyblockk, one key factor contributing to this downward movement appears to be increased selling pressure from large Bitcoin holders. Related Reading: Historic Bitcoin Buy Signal: DXY’s Collapse Signals A Bigger Bull Run Whales and Large Holders Drive Selling Pressure on Binance Crazzyblockk in his latest insight highlights how whales and other large investors on Binance are actively offloading BTC as prices rise. This trend suggests that experienced traders are taking advantage of market optimism to exit their positions, potentially limiting Bitcoin’s short-term upside potential. Whale to Binance Flow Hits 3-Month High at $7.3B Over Last 30 Days “This often happens alongside heavy changes in price and shows that large holders choose Binance as their exchange. Watching whale deposits is important, as their moves can drive the market.” – By @JA_Maartun pic.twitter.com/psD3zuDXf3 — CryptoQuant.com (@cryptoquant_com) March 6, 2025 The trend also comes at a time when whale to Binance flow sees a consistent increase. Crazzyblockk’s analysis of on-chain data from Binance particularly indicates that large Bitcoin holders—categorized as fish, sharks, and whales—are selling into market rallies. The data reveals that the larger the holder, the more strategically they distribute their Bitcoin holdings. These entities account for an increasing share of daily sell-side activity on Binance, suggesting that they are actively shaping Bitcoin’s price movements. As Bitcoin’s price trends upward, whale activity on Binance has intensified, with more BTC flowing into the exchange. The report highlights that while retail investors—often referred to as shrimps—have remained relatively inactive, whales and sharks are capitalizing on rising prices to take profits. This consistent distribution from high-value holders has created sustained downward pressure, preventing Bitcoin from making a parabolic move higher. Bitcoin Market Outlook: Can Accumulation Offset Whale Selling? With large holders continuing to offload BTC, the risk remains that any further upside could trigger even more selling pressure, reinforcing resistance levels. This dynamic means that Bitcoin’s price movement could remain constrained unless new accumulation from long-term investors or institutional buyers offsets the selling trend. Related Reading: Bitcoin Bullish Signal: $900 Million In BTC Leaves Exchanges Crazzyblockk emphasizes that tracking Binance’s whale activity is crucial for understanding market direction. Since these large holders are not just participants but also price movers, their actions can provide insight into short-term market trends. If whale selling slows and new accumulation picks up, Bitcoin could find support and regain momentum. However, if the current trend continues, further downside pressure remains a possibility. Featured image created with DALL-E, Chart from TradingView
On-chain data shows a Litecoin whale has made a huge deposit to the cryptocurrency exchange Binance in the past day, a sign that could be bearish for LTC’s price. Binance Has Just Received A Massive Litecoin Inflow According to data from the cryptocurrency transaction tracker service Whale Alert, a large move has been spotted on the Litecoin network during the last 24 hours. The transfer in question involved the shifting of 500,000 LTC across the network. At the time that the chain executed the transaction, this stack was worth around $51.3 million. Given the large scale associated with the move, it’s likely that a whale entity was responsible for it. Related Reading: Bitcoin’s Next Stop: $75,500? Analyst Reveals Historical ‘Magnet’ Level Whales are the largest of investors on the network, who can carry some degree of influence in the market due to their ability to make large transactions like this latest one. As such, the behavior of these humongous holders can often be worth keeping an eye on, as even if it may not always end up impacting the LTC price, it can still tell us about what the sentiment is like among this important cohort. Generally, though, it can be hard to say for certain what the whales are doing from their transaction activity alone, considering the anonymous nature of the blockchain. Nonetheless, sometimes, one of the wallets involved in the transaction can be connected to a central entity, which can provide room for speculation. The latest Litecoin move is fortunately of this type. Here are the details of the addresses involved in the transfer: As is visible above, the whale made the Litecoin transaction from a few unknown wallets. Such addresses are those that aren’t known to be affiliated with any centralized platform, so they can be assumed to be personal, self-custodial wallets of the investor. The destination of the transaction was a wallet attached to Binance, an exchange. Moves of this type, where coins go from personal addresses to the custody of an exchange, are known as exchange inflows. Related Reading: Solana (SOL) Crashes 15% After Massive Profit-Taking Spike Usually, investors deposit their tokens to these platforms when they want to use one of the services that they require, which can include selling. As such, exchange inflows can sometimes have a bearish impact on the asset’s price. It’s unknown, though, whether the whale truly intended to sell with the latest exchange inflow or not. In the scenario that the investor did plan for it, then it could spell trouble for Litecoin, considering the scale of the move and the fact that its price has already registered a considerable drawdown during the past week. LTC Price Litecoin has recently plummeted alongside the rest of the cryptocurrency sector, which has brought its price down to $104. Featured image from Dall-E, whale-alert.io, chart from TradingView.com
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Binance will delist trading pairs for nine stablecoins in the European Economic Area (EEA) by March 31, according to a March 3 statement. According to the exchange, this decision aligns with its efforts to comply with the European Union’s Markets in Crypto-Assets (MiCA) framework, which introduces stricter regulations for digital assets. Binance delists Tether and […]
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The move, set to take effect on March 31, will impact nine stablecoins, including Tether (USDT), First Digital USD (FDUSD) and Dai (DAI).
Binance has announced the listing of MyShell (SHELL) as the 10th project on the HODLer Airdrops page, rewarding users who participated in BNB Simple Earn and On-Chain Yields subscriptions. MyShell is a decentralized AI consumer layer, designed to connect AI creators, researchers, and users within an open-source ecosystem. Eligible users who held BNB between February 14, 2025, and February 18, 2025, have received SHELL tokens through the HODLer Airdrops program. Additionally, Binance listed SHELL for trading on February 27, 2025, at 13:00 UTC, opening pairs against BTC, USDT, USDC, BNB, FDUSD, and TRY. Why Trade SHELL on Binance? Binance remains the leading exchange for new token listings, offering a highly liquid and secure trading environment. A detailed Binance review covers the platform’s security, fees, and trading options, helping traders understand why Binance is the top choice for digital asset trading. SHELL HODLer Airdrop Details Token Name MyShell (SHELL) Genesis Total Supply 1,000,000,000 SHELL Max Token Supply 1,000,000,000 SHELL HODLer Airdrop Allocation 25,000,000 SHELL (2.5% of total supply) Additional HODLer Airdrop (6 months later) 25,000,000 SHELL Circulating Supply at Listing 270,000,000 SHELL (27% of total supply) Networks Ethereum, BNB Chain Listing Fee 0 How to Trade SHELL with Lower Fees on Binance Trading on Binance can lead to increased fees due to high trading activity and market demand. To reduce costs, new users can sign up using a Binance referral and receive: 20% off spot trading fees 10% off futures trading fees Exclusive cashback bonuses for eligible users By taking advantage of the Binance referral program, traders can optimize their trading costs and maximize their profit potential. What is Binance HODLer Airdrops? Binance HODLer Airdrops is a rewards program for BNB holders, distributing free tokens based on historical BNB balance snapshots. Users who subscribe their BNB to Simple Earn (Flexible or Locked) or On-Chain Yields are automatically eligible for these airdrops. Unlike other reward programs that require active participation, HODLer Airdrops retroactively reward users without extra actions. This makes it a simple and passive way to earn additional crypto assets on Binance.
Binance refuted social media claims that it is offloading its Ethereum (ETH) and Solana (SOL) holdings. On Feb. 26, Binance’s customer support team addressed the speculation on X (formerly Twitter), stating that the exchange is not engaging in large-scale token sales. The firm clarified that it functions solely as a marketplace that facilitates transactions, with […]
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The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
The survey found that investors entered the cryptocurrency space looking for significant returns and financial freedom.
A former cryptocurrency exchange executive remarked that Bitcoin is an inescapable reality, a statement that stirred a discussion within the crypto community. The comment made by the former CEO of Binance, Changpeng Zhao, was a reaction to the report that another American state sought to establish a local version of US President Donald Trump’s proposed Strategic Bitcoin Reserve. Related Reading: 10x Dogecoin: The ‘Secret Window’ You Need To Know, According To This Analyst Bitcoin Reserve Bill The proposal to create a US Strategic Bitcoin Reserve is gaining momentum as several US states passed legislation that seeks to establish a localized version of a BTC reserve and build their crypto portfolio. Satoshi Action Fund posted on its X account that Montana’s proposed House Bill No. 420 which seeks to create a localized Bitcoin reserve has been passed. “Strategic Bitcoin Reserve legislation in Montana passes out of committee and moves onto a House floor vote,” Satoshi Action Fund said. Representative Curtis Schomer sponsored the BTC-related bill. “Montana becomes the 4th state to pass SBR out of committee. Utah, Oklahoma, Arizona, and Montana,” Dennis Porter, CEO and Co-Founder at Satoshi Action Fund, noted on his social media post. ‘No Escape’ With this development, CZ posted his thoughts on the Montana legislation, implying that Bitcoin has become an unavoidable reality while saying, “There is no other choice.” countries or individuals. There is no escape… It’s like, you can’t not use the internet (or money). ????♂️ — CZ ???? BNB (@cz_binance) February 19, 2025 “You can buy bitcoins after the US government is done buying, or before,” CZ said in a post, indicating that buying the firstborn cryptocurrency is inescapable and that it is no longer a debate whether to buy or not but rather when investors should make a purchase. A crypto trader agrees with CZ’s opinion that no one can avoid BTC. “Front-run the biggest buyer in history, or wait until there’s nothing left. The choice isn’t if—it’s when.” The trader added that those late in adopting BTC will have to pay the premium for not making the move earlier. “Countries or individuals. There is no escape… It’s like, you can’t not use the internet (or money),” CZ replies to a crypto streamer who said that other countries are also thinking in the same way Montana did in creating a Bitcoin reserve. BNB Donation In a separate post, CZ emphasized the significance of crypto donations to help other individuals during disasters. The ex-Binance executive shared that his previous donation was returned to him with additional crypto, describing it as something unexpected. Earlier, CZ gave away 150 BNB worth $100,000 to crypto investors who lost their money in a pump-and-dump scheme related to the LIBRA coin, a digital asset that was briefly promoted by Argentina’s president, Javier Milei. Related Reading: Bitcoin Ready For ‘Take Off’—Analyst Reveals Key Signals CZ said that he sent the BNB to a university student, who added $50,000 of his own money to aid the victims. He believes that the student might have earned decent profits on BNB and decided to return the crypto to CZ with a bigger value. Featured image from Finans, chart from TradingView
Blockchain analytics platform Nansen announced the launch of its Bitcoin (BTC) on-chain analytics to bring real-time, detailed insights into the flagship cryptocurrency, enabling users to track key on-chain metrics in the platform. Related Reading: Ethereum To Move Sideways For 2-3 Months? Analyst Says Longer ETH Consolidation Is Needed Nansen Brings Real-Time On-Chain Analytics For Bitcoin On Thursday, Nansen introduced its Bitcoin Growth Dashboard to provide a detailed view of the flagship crypto’s market movements and address the lack of user-friendly tracking tools for in-depth analysis in the market. The analytics platform noted that examining Bitcoin’s network at the same level as other blockchains has been difficult since most tools use “outdated address labeling, fragmented data, or require advanced technical skills to extract meaning insights.” As a result, the new Bitcoin on-chain analytics aims to bring “the same depth of data that Nansen users have relied on for Ethereum and other blockchains to Bitcoin” by enabling traders, institutions, and analysts to monitor active addresses, transactions, and the principal entities interacting on the network. Alex Svanevik, Nansen’s CEO, shared his excitement about Bitcoin analytics, explaining that users can use the platform to monitor detailed key BTC on-chain metrics: Bitcoin is the most important asset in crypto, and we’re thrilled to finally bring Nansen’s industry-leading analytics to BTC. With our platform, users can now track Bitcoin’s key onchain metrics with the same level of detail and precision they expect from Nansen. The new data aggregation will allow users to see the exchanges and entities that move the most BTC to tackle the “guesswork” on whether the transaction spikes are retail-drive, institutional-driven, or exchange reshuffling. Users can also observe BTC’s liquidity and supply shift in real time to identify crucial trends before they hit the broader market. Additionally, they can track the crypto market’s sentiment with address activity data, offering users “a new way to gauge Bitcoin’s adoption and investor sentiment.” BTC Transactions See 42% Daily Surge Nansen’s new Bitcoin on-chain analytics revealed exchange dominance and shifts in network activity. According to the analytics platform, the largest Bitcoin-active entities include some of the world’s biggest crypto exchanges. The data shows that Binance, Bybit, OKX, Robinhood, and KuCoin are among the top 5 BTC-active exchanges. Binance dominates the list with 40.68% of tracked BTC transaction activity, followed by Bybit’s 23.36% and OKX’s 18.88%. Meanwhile, Robinhood continues to emerge as a key Bitcoin custodian with its 8.72% share, Nansen pointed out. It also noted that the network trend shows significant transaction spikes between April and June 2024, likely fueled by institutional moves, major market events, and mine behavior changes. In the past 24 hours, the number of Bitcoin active addresses has declined by 16.82% to around 462,390, suggesting network activity has slowed. The number of active addresses has hovered between 335,000 and 668,000 since September, surpassing the 600,000 mark several times since the November US elections. Related Reading: Solana Risks Further Drop Amid $180 Support Retest – Is The SOL ‘Memecoin Fiesta’ Over? Nonetheless, BTC transactions recorded a 42.33% increase during the past day, surging to approximately 453,600, which signals a demand for block space. Lastly, the on-chain analytics platform also revealed that it will introduce Token God Mode and Nansen Profiler for BTC in the coming weeks to offer “deeper insights into wallet behaviors, transaction flows, and market trends.” Featured Image from Unsplash.com, Chart from TradingView.com
Nigeria Sues Binance for $81.5 Billion in Economic Losses and Back Taxes
Binance.US has reinstated USD deposits and withdrawals for its US customers, marking a significant shift after months of operating as a crypto-only platform. The exchange announced on Feb. 19 that users can now deposit and withdraw US dollars without fees via bank transfers (ACH). The firm stated that the fiat services rollout begins today and […]
The post Binance.US restores USD access, aims for market resurgence amid SEC’s legal troubles appeared first on CryptoSlate.
Nigeria’s Federal Inland Revenue Service (FIRS) has taken legal action against Binance Holdings Limited, demanding over $81 billion in unpaid taxes and penalties. On Nov. 19, local media outlet Nairametrics reported that this claim includes $79.5 billion in economic damages and an additional N231 million ($153,223) tied to Binance’s operations. The tax authority also seeks […]
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Access to fiat services begins Wednesday, and will be gradually rolled out to all eligible customers over the coming days, Binance.US said.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Nigeria's tax authority Federal Inland Revenue Service (FIRS) also claimed Binance operated illegally within the country.
Fiat functionality was paused in June 2023 after the SEC sued Binance.US, alleging violations of securities laws.
Nigeria’s Securities and Exchange Commission (SEC) is working on a plan to tax crypto transactions as part of a broader effort to increase government revenue, Bloomberg reported on Feb. 18. According to the report, the regulatory body intends to bring eligible crypto transactions on licensed exchanges under the country’s tax framework. Meanwhile, a bill outlining the […]
The post Nigeria reportedly advances crypto tax plan while grappling with Binance dispute appeared first on CryptoSlate.
Binance CEO Richard Teng has warned the crypto community about a rising scam called “share-seed-phrase.” In a Feb. 18 post on X, Teng revealed that fraudsters use this deceptive tactic to manipulate victims into transferring funds to wallets controlled by them. How the scam operates In a blog post, Binance explained that the scammers impersonate […]
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Binance co-founder Yi He said the company is frequently approached about potentially taking on new investors
Crypto pundit Andrei Jikh has reignited the $100 XRP price target, sparking a bullish sentiment in the XRP community. The analyst outlined several factors that could contribute to the parabolic rally to the ambitious $100 target. Factors That Could Contribute To The $100 XRP Price Target In a YouTube video, Jikh highlighted a potential end to the Ripple SEC lawsuit as one of the factors that could spark the XRP price rally to the $100 target. He cited the SEC’s removal of the Ripple case from its website, which indicates that legal pressure is easing. The Commission’s agreement with Binance to pause their ongoing legal battle has also sparked optimism that the Ripple lawsuit could soon end. Related Reading: XRP Price Enters Golden Pocket: Analyst Says It’s A Good Buy At These Levels Jikh then alluded to a Nasdaq report stating that 80% of Japanese banks are set to adopt XRP for global payments. The analyst is confident that this move will cause adoption to skyrocket, which could contribute to the projected rally to $100. He noted that Japan’s banking system is huge, which makes this a big deal for the altcoin. Furthermore, the crypto pundit highlighted the potential approval of the XRP ETFs as another factor that could drive the XRP price to the $100 target. He noted how the Bitcoin price surged to new highs after the Bitcoin ETFs were approved, and Jikh believes something similar could happen. Another factor that the crypto analyst believes could contribute to the XRP price rally to $100 is the possibility of Ripple’s payment system replacing SWIFT. He highlighted how the global payment industry is worth trillions of dollars. As such, Ripple processing a huge chunk of these global payments could cause XRP’s utility and demand to skyrocket, ultimately impacting its price. Other Bullish Fundamentals For The Altcoin Meanwhile, Jikh also alluded to the XRP Ledger (XRPL) and Ripple’s Real USD (RLUSD) as factors that could contribute to the XRP price rally to $100. He noted that the XRPL processes around 1,500 transactions, making it a potential option for tokenization plans, which is bullish for the asset. Related Reading: XRP Bulls Shake Off Crash, Target This Major Resistance On The Road To $3.85 If the XRPL becomes the go-to platform for tokenizing real-world assets such as stocks and bonds, this will help drive demand up and make the crypto more valuable. The RLUSD stablecoin is also bullish for XRP as its burn mechanism helps remove XRP from circulation as its utility grows. Jikh then alluded to the possibility of Ripple CEO Brad Garlinghouse being on the White House Crypto Advisory Council. This is especially bullish for the XRP price as Garlinghouse being on the Council could cement its place in the newly-created US sovereign wealth fund. At the time of writing, the asset’s price is trading at around $2.55, up over 4% in the last 24 hours, according to data from CoinMarketCap. Featured image from Adobe Stock, chart from Tradingview.com
Changpeng Zhao (CZ), the former Binance CEO, is under scrutiny following the emergence of multiple memecoins named after his dog, Broccoli. On Feb. 13, Zhao revealed his Belgian Malinois dog’s name and photo after multiple requests from community members. While Zhao assured that he would not launch a Broccoli-themed token himself, he hinted at trading […]
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A Washington D.C. district judge has allowed Binance and the SEC to stay their legal dispute for the next 60 days.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
There have been recent concerns within the crypto community regarding Binance’s recent activities after a claim surfaced that the exchange had been offloading large amounts of Bitcoin and Ethereum. The Binance selloff trend was first noted on social media platform X by a market participant known as AB Kuai.Dong (@_FORAB), who noted that the crypto exchange had allegedly been selling off its Bitcoin and Ethereum holdings. Did Binance Trigger The Market Crash? The crypto market has endured a turbulent two weeks, with Bitcoin at the center of a series of price crashes. The downturn began as Bitcoin plunged to $92,000 on February 3. Although a brief recovery saw BTC climb toward $98,000 on February 11, the momentum proved short-lived. Bitcoin has since struggled to regain momentum and is hovering around $95,000. Related Reading: Bitcoin Long-Term Holders Complete Largest Market Sell-Off Since 2021, Is The Top Here? Unsurprisingly, Bitcoin’s price crash rippled across the market, dragging down other cryptocurrencies. On the same day Bitcoin hit its local low, Ethereum fell below $2,470. As noted by AB Kuai.Dong, Binance may have contributed to the downturn. Data shows that crypto addresses owned by Binance have seen a drastic decline in their holdings in recent few days. Particularly, AB Kuai.Dong noted that Binance had allegedly been selling off a huge part of its crypto holdings, which cuts across Bitcoin, Ethereum, Solana, BNB, and some stablecoins. On-chain data revealed that Binance has experienced a drastic 94.1% reduction in its Bitcoin holdings between January and February. The outflow was even more extreme for Ethereum, where balances dropped by 99.9% over the same period. BNB, Solana, and Tether USDT have also been reduced by 16.6%, 99%, and 99.9%. Interestingly, AB Kuai.Dong noted these assets were primarily past revenue generated by the platform rather than user funds. He also pointed out that a significant portion of the sold cryptocurrencies had been converted into USDC, which has increased by 57.5% in Binance’s wallets. Binance Responds To Market Crash Allegations AB Kuai.Dong quickly gained traction among crypto traders and investors on X, particularly those searching for explanations for the recent drop in Bitcoin and Ethereum prices. As the biggest crypto exchange in the world, a major selloff by Binance would be one of the worst things to happen to the cryptocurrencies involved. Related Reading: Analyst Says Prepare For Ethereum Price To Hit $17,000, Here’s Why However, Binance was quick to address the concerns, firmly denying that it had sold any assets. In an official statement on X, the exchange clarified that what had been observed was merely an internal accounting adjustment within the Binance treasury. As such, Binance reassured users that their funds remained safe and secure as always. At the time of writing, Bitcoin is trading at $95,740, having declined by 2.6% in the past 24 hours. Ethereum is trading at $2,600 and is on a 4.2% decline in the past 24 hours. Featured image from Unsplash, chart from Tradingview.com