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Binance (BNB) Pushes Past $300 This Weekend, As Bitgert (BRISE) Soars Higher – These Are These Week Expectations

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Binance (BNB) Pushes Past $300 This Weekend, As Bitgert (BRISE) Soars Higher – These Are These Week Expectations

(BNB) has broken the $300 resistance this weekend to reach $314 on Saturday. This is a big achievement for the Binance coin after being shaken by the FTX implosion. Although the coin has lost some of the gains to trade at $295 as of writing, crypto analysts believe that Binance has the potential to surge past $330 this week.

Binance was one of the victims of the FTX crash after it was accused of having played a part in crashing the coin. The moves that Binance, including withdrawing its holding on the FTX and exposing unusual transactions, are said to have triggered the coin’s selling pressure. That’s why $BNB got hit.

Binance also got hit by misappropriation rumors after the reserve audit was made public. In fact, words were going around that Binance executives would be charged for money laundering by the US prosecutors. All these factors, plus the hawkish Fed, were the reason Binance reached $227 last month.

The current bullish explosion is expected to extend for the next few weeks, and the coin might trade above $330 by the end of this week. The growing Binance chain and product adoption shall also be a factor in the performance of BNB.

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Bitgert Has Also Been Soaring High

Bitgert (BRISE) is another coin that has been soaring high over the past few days. In 2023, Bitgert has been one of the biggest gainers, and this weekend, $BRISE tops among the coins that did very well in the market.

Like Binance, Bitgert is a blockchain-based project that is constructing a high-utility crypto product. The fast-growing utility is one of the reasons why Bitgert did so well in the market last week and this weekend.

The news about the Bitgert team launching a decentralized exchange in the next few days has caused ripples in the market. The updates about the development of the decentralized marketplace have also attracted a lot of attention too.

There are also many developments of the Brise exchange (CEX), Paybrise, and BRC20 blockchain, which attracted a lot of investors.

Conclusion

For both Bitgert and Binance, we can expect the two coins to keep soaring this week. They have everything needed to attract more investors into buying these coins and keep holding them even in tumbling markets. Therefore, Bitgert and Binance are ideal crypto investments to buy this week and this month.

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Disclaimer: The information provided in this article is solely the author’s opinion and not investment advice – it is provided for educational purposes only. By using this, you agree that the information does not constitute any investment or financial instructions. Do conduct your own research and reach out to financial advisors before making any investment decisions.

aid

Cryptocurrency Exchanges Offer Assistance To Earthquake-Hit Turkey

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Cryptocurrency Exchanges Offer Assistance To Earthquake-Hit Turkey

Major crypto exchanges have offered to help the people of Turkey to overcome the consequences of this week’s devastating earthquake. While the crypto industry pledged support, the country’s financial authorities allowed the raising of relief funds through cryptocurrency donations for a charity organization.

Leading Exchanges Commit to Supporting the Victims of the Earthquake in Turkey

The global crypto trading sector has quickly reacted to the news of the deadly earthquake that brought destruction to parts of Turkey and the region. Over the past few years, the country became a growing crypto market and digital asset exchanges are now offering to help Turkish traders, their families, and neighbors in need.

Binance, the world’s largest trading platform for cryptocurrencies, announced on Tuesday it will airdrop $100 of BNB tokens to all of its users living in the most affected areas. The company said it will identify the customers that qualify based on proof of address and disperse a total of around $5 million. It also emphasized:

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Crypto transfers are now increasingly being used to deliver financial aid to disaster victims as they provide fast, low-cost, borderless, and transparent transactions.

Furthermore, Binance Charity is now accepting donations in several coins that will be converted to Turkish lira and sent to an NGO. “We hope that our efforts will bring some relief to those affected. We are also calling on our industry peers to once again come together to offer support in these times of crisis,” Binance founder and CEO Changpeng Zhao was quoted as saying.

Competitors like Huobi, Okx, Bybit, and others have promised to support Turkey as well. Okx will provide 1 million Turkish lira (over $53,000) in financial assistance for the victims of the natural disaster, according to a statement by its Chief Marketing Officer Haider Rafique. Bitget is donating the same amount of money.

Huobi CEO Justin Sun unveiled the establishment of a 2 million lira relief fund by the Tron exchange and blockchain in memory of those who lost their lives in the powerful earthquake. The death toll from the 7.8 magnitude tremor, which struck Southeastern Turkey and Western Syria on Monday, continues to rise and is already exceeding 9,000.

Coinex said in a Facebook post it’s ready to help people in both countries while Bitmex tweeted it will donate the proceeds of its trading competition this week to the Turkish Red Crescent. Bitfinex and Tether expressed their condolences and pledged 5 million lira towards immediate humanitarian aid and recovery efforts. They will also “seek ways to provide continued support towards helping Turkiye rebuild for the future.”

Our thoughts are with all the people who have been affected by the tragic Turkey-Syria earthquake today.

BitMEX will be donating the proceeds of this week’s Trading Competition to the @RedCrescent, and we encourage those who can donate to do the same. #GeçmişOlsunTürkiye

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— BitMEX (@BitMEX) February 6, 2023

Singapore-based crypto exchange Bybit announced it will send $100,000 to Turkey’s Disaster and Management Authority (AFAD). Meanwhile, the country’s Financial Crimes Investigation Board (MASAK) approved an initiative by a charity called Ahbap to raise donations in cryptocurrency, according to its founder, Turkish singer Haluk Levent. The campaign will continue until Feb. 13

Tags in this story

aid, Binance, Bitmex Bybit, Crypto, Crypto Donations, crypto exchange, crypto exchanges, Cryptocurrencies, Cryptocurrency, disaster, donations, Earthquake, Exchanges, financial support, humanitarian efforts, Huobi, Okx, Relief, support, Turkey, Turkish, Victims

Do you expect other companies from the crypto industry to join these exchanges in helping Turkey to deal with the disaster? Tell us in the comments section below.

Lubomir Tassev

Lubomir Tassev is a journalist from tech-savvy Eastern Europe who likes Hitchens’s quote: “Being a writer is what I am, rather than what I do.” Besides crypto, blockchain and fintech, international politics and economics are two other sources of inspiration.

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Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is 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 this article.

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WazirX deems Binance allegations ‘false’ and ‘unsubstantiated’

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WazirX deems Binance allegations ‘false’ and ‘unsubstantiated’

WazirX deems Binance allegations ‘false’ and ‘unsubstantiated’ Oluwapelumi Adejumo · 6 hours ago · 1 min read

WazirX said it was taking the necessary steps to seek recourse and protect its legal rights against the actions taken by Binance.

1 min read

Updated: February 7, 2023 at 11:25 pm

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Cover art/illustration via CryptoSlate

India-based crypto exchange WazirX said Binance’s allegations against it are “false” and “unsubstantiated,” according to a Feb. 7 statement.

The exchange added that it was taking the necessary steps to seek recourse and protect its legal rights against the actions taken by Binance.

WazirX also allayed users’ fears about their funds. The exchange said:

“WazirX users do not have to be concerned about Binance’s announcement. We have made arrangements to ensure that WazirX’s digital assets are stored in accordance with industry-leading standards.”

Binance and WazirX’s operator Zanmai Labs have been engaged in a public spat over who owns the exchange since last year.

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While Binance and its CEO  Changpeng  Zhao “CZ” have repeatedly maintained that they have no control over the Indian exchange’s operations and its users’ assets, WazirX co-founder Nischal Shetty said that Binance acquired and owned the exchange.

The disagreements culminated in Binance terminating its wallet services to WazirX on Feb. 3. The Indian exchange later transferred its assets to multi-sig wallets.

Binance was yet to respond to CryptoSlate’s request for comment as of press time.

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Binance is suspending USD-based bank transfers

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Binance is suspending USD-based bank transfers

Binance is suspending USD-based bank transfers Oluwapelumi Adejumo · 3 hours ago · 1 min read

Binance said its users’ could use all other methods of buying and selling crypto, including bank transfers in other fiat currencies like Euros.

1 min read

Updated: February 6, 2023 at 5:14 pm

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Cover art/illustration via CryptoSlate

Binance is temporarily suspending US Dollar-denominated bank transfers from Feb. 8, according to an emailed statement sent to CryptoSlate on Feb. 6.

The firm said it was notifying affected customers directly. A Binance spokesperson said:

“It’s worth noting that only 0.01% of our monthly active users leverage USD bank transfers, but that we are working hard to restart service as soon as possible.”

The exchange added that its users could use other methods of buying and selling crypto, including bank transfers in fiat currencies like Euros.

Binance did not reveal how long the service’s disruption would last.

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On Jan. 23, Binance said its banking partner Signature bank would stop processing crypto transactions worth less than $100,000. At the time, the exchange added that the decision would affect the bank’s crypto clients.

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