Binance, one of the world’s largest cryptocurrency exchanges by trading volume, announced that it will move to 4-hour Panama with a statement made yesterday. However, this situation seems to have caused panic among Binance users for a while.
↑ Why did Binance close?
In fact, there is no reason to be concerned about the suspension of Binance transactions. Binance made an official announcement and shared with the public that it will stop spot transactions due to the system update (Also it could be seen with binance signals). It was stated that the update will take place between 05:00 and 09:00 Turkish time and that during this period, users will continue to have access to futures and options products.
- During the system updates, many services were affected, such as:
- Deposit and withdrawal transactions;
- ETH 2.0 subscription;
- New user registration;
- Binance payments;
- Leveraged tokens;
- binance signals.
In addition, according to the statements made, all asset transfers, deposits, and withdrawals were suspended ten minutes before the system was updated – analyst of SafeTrading.
↑ Binance update completed.
The exchange said in an official statement that the update process ended at around 09:30. In its statements, the exchange stated that some users may still have problems for a while, but there is nothing to worry about at the moment.
So it was actually an app designed to do a scheduled update to stop transactions on Binance. For this reason, while some users are worried about negative events such as hacking attempts, there is really nothing to worry about.
Exchanges create such applications from time to time and may temporarily stop transactions due to significant updates. At this stage, it is important for users to closely follow the explanations of the stock market and take positions in accordance with these suspension processes.
Axie Infinity (AXS) Now Available On Coinbase!
Axie Infinity (AXS) Now Available On Coinbase! As a result of this development, the cryptocurrency closes the week with unexpected news, which has grown significantly.
The popular gaming token for cryptocurrencies, which grew more than 70.4% in the last week, is up 4% in the last 24 hours – analyst of SafeTrading.
What the company tweeted today: “Victory. AXS and Coinbase are finally together! »As announced in the announcement, Axie Infinity (AXS) is now listed on Coinbase.
Axie Infinity made a legal statement amid Coinbase listing news that “from time to time, we will transact with our own tokens.”
AXS is a crypto token operating on the Ethereum network. The token is used in the Pokémon-like crypto game Axie Infinity, in which users compete in an endless battle for resources for the pets they create.
In addition to playing Axie Infinity, AXS owners can claim rewards by voting on Axie Infinity controls.
While AXS saw a sharp spike in prices last week, this is not the first time the popular cryptocurrency gaming token has skyrocketed in value.
The game token rose from $ 4.10 on June 10 to an all-time high of $ 19.63 on July 10, and has continued to rise since that date. The price movement represents a meteoric rise of over 378% in just 30 days.
- The AXS price has shown an excellent bullish history since the beginning of the summer. On June 21, the token traded at about $ 4.20 as the broader cryptocurrency market declined after the May bubble burst. But while larger cryptocurrencies like Bitcoin and Ethereum lost significant profits, AXS continued to rise.
- At the end of July, AXS surpassed $ 40, which means more than 850% growth in just a month. According to CoinGecko, the token, which was priced between $ 42 and $ 46 before continuing to rise, hit an all-time high of $ 75.73 on August 11.
- The latest partnership with Coinbase is also critical to the growth of the token. As the community is well aware that listings on the US cryptocurrency exchange have a huge impact on the price of cryptocurrencies.
Investor profit, hash rate growth, and BTC exit from exchanges.
Bitcoin posted another 5-10% gains this week, with various bullish signals appearing on both the price chart and the cane data, including a massive stock market breakout, hash rate hikes, and a 16% supply of profitable currency.
According to the data available on the network, bitcoin spent in the range of $ 29,700 to $ 45,400 turned into profit, indicating that 16% of the supply became profitable. The percentage of supply in profit can show the current state of the market. When values are too low, the chances of purchasing power entering the market increase exponentially. If the market is performing “very well,” sellers are likely to appear.
↑ Increased hash rate.
The hash rate of bitcoins has been increasing since July to the values that existed before the Chinese ban. After the restrictions of the Chinese government, the hash rate dropped from 180 million TH / s to 86 million TH / s, which reduced the difficulty of mining. Reducing complexity and production volumes could ease the pressure from sellers in the market.
↑ Entry to the exchange 100,000 BTC per month.
The stock exit indicator is one of the most reliable indicators that tells us the current attitudes of large and small investors. The stock market net position change remains negative after the May sell-off when bitcoin fell from $ 60,000 to $ 30,000.
Bitcoin has been growing steadily for four consecutive weeks. In addition to strong technical data on the price chart, there is no bearish indicator in on-chain data analytics. BTC is currently trading at $ 46,000 with no significant change over the past four days – analyst of SafeTrading.