Category: Binance

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Top 3 Coins To Watch This Week: ADA, CLO, VRA – Trading Analysis

Let’s take a closer look at this week’s altcoins showing breakout signals. We’ll dive into the trading charts and provide some analysis to help you.

1. Cardano (ADA)

Cardano is a proof-of-stake blockchain platform that says its goal is to allow “changemakers, innovators, and visionaries” to bring about positive global change. The open-source project also aims to “redistribute power from unaccountable structures to the margins to individuals” — helping to create a society that is more secure, transparent, and fair.

ADA Price Analysis

At the time of writing, ADA is ranked 4th cryptocurrency globally and the current price is $2.14 AUD. Let’s take a look at the chart below for price analysis.

Source: TradingView

ADA‘s 97% climb during early May returned to the monthly open, sweeping lows several times down to $1.32 AUD.

Last week, the price bounced from the monthly open near $1.78 AUD again, creating possible support near $2.02 AUD. A quick sweep of this recent swing low could reach into a support area near $1.70 AUD, while a sharp downturn in the market is likely to run for the relatively equal lows near $1.40 AUD.

If the price breaks through the closest significant resistance near $2.30 AUD, the swing high at $2.45 AUD is a likely target. This move could reach a daily gap near $2.60 AUD.

Strong bullish momentum could propel the price to resistance near $2.81 AUD. If this move occurs, the significant swing high near $3.15 AUD provides a reasonable goal.

2. Callisto Network (CLO)

Callisto Enterprise, a branch company focusing on enterprise applications of blockchain technology. Several major public transport companies from central and eastern Europe have joined in this initiative.

Callisto has built a scalable blockchain ecosystem featuring a staking mechanism, a full DeFi protocol, and a stablecoin. Callisto Network is a self-sustaining and self-funded blockchain ecosystem, not financed by pre-mined coins or an ICO.

CLO Price Analysis

At the time of writing, CLO is ranked 513th cryptocurrency globally and the current price is $0.02086 AUD. Let’s take a look at the chart below for price analysis.

Source: TradingView

CLO spent the month of May ranging across the monthly open, reaching 26.5% over and 45% below.

The price is currently consolidating between adjacent resistance and support at $0.01675 AUD with no clear higher-timeframe trend. A strong move over the monthly open could signal a run to resistance beginning near $0.02275 AUD. 

This move would likely target the swing high at $0.02541 AUD and relatively equal highs near $0.02761 AUD. A sustained bullish trend could reach up to the April high near $0.03500 AUD.

Bulls might see a sweep of the relatively equal lows near $0.01142 AUD as a chance to buy at a discount. If this level fails to hold, the next significant area for the price to find buyers is likely near the consolidation around $0.00724 AUD that began March’s bullish trend.

3. Verasity (VRA)

Verasity is a Protocol and Product Layer Platform for Esports and Video Entertainment. Verasity’s mission is to significantly increase advertising revenues for video publishers on any video platform through its rewarded player and ad stack utilizing its patented protocol layer on the blockchain – Proof of View. PoV is the only Protocol Layer patented technology for the blockchain USA Patent.

VRA Price Analysis

At the time of writing, VRA is ranked 394th cryptocurrency globally and the current price is $0.02433 AUD. Let’s take a look at the chart below for price analysis.

Source: TradingView

VRA‘s strong downtrend that began in mid-April has retraced most of its Q1 move, recently sweeping lows near $0.0168 AUD but struggling to find strong support.

A sweep of the relatively equal lows near $0.0128 AUD into possible support around $0.00122 AUD, combined with bullish market conditions, could be the catalyst that begins to form a bottom. If this level fails, bulls might buy the monthly gap’s low near $0.0098 AUD.

The swing low near $0.0326 AUD may form resistance to any sudden pumps as holders unload some of their position. A more substantial move might sweep relatively swing highs into probable resistance near $0.0438 AUD, potentially reaching up to the May monthly open near $0.0521 AUD.

Where to Buy or Trade Altcoins?

These 3 Altcoins have high liquidity on Binance Exchange so that could help with trading. Instead, if you’re looking at buying and HODLing cryptos, then Swyftx Exchange is a popular choice in Australia.

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Binance Crypto News Travel

You Can Now Book Your Hotel On Binance Mobile App

Binance has partnered with Travala to accept hotel bookings paying with crypto using your Binance Mobile App.

Binance is once again positioning itself as a major leader in crypto adoption, entering payment solutions for our everyday lives.

Press play below to see it in action!

Pay for Hotels with Binance Pay

Binance users can now book over 3,000,000 travel products on Travala.com, the first merchant to integrate Binance Pay. Whether you run an e-commerce business or restaurant, you can accept crypto payments with Binance Pay. Binance Pay’s Merchant APIs allow you to process online payments or in-person payments using QR codes, all while offering customers a seamless payment experience. 

From the home screen inside the Binance App, select the ‘More’ button, and you can find ‘Hotels’ in beta. Very exciting to have such a major player as Binance release a feature like this. Crypto is here to stay. Mainstream adoption is coming… it’s already here.

How To Access Hotels on your Phone

See the screenshots below on how to find the Hotels feature on your Biannce Mobile App.

Travala.com is the first company or service to integrate Binance Pay. Users can pay for bookings using Binance pay and get AVA rewards!

What is Binance Pay?

Binance Pay is currently in (beta) and can be accessed by anyone who has a Binance account and completed their identity verification.

Binance Pay currently supports more than thirty cryptocurrencies including: BTC, BNB, BUSD, ETH, ADA, ATOM, BCH, DASH, DOGE, DOT, EOS, ETC, FIL, HBAR, LINK, LTC, MATIC, NEO, PAX, QTUM, TRX, TUSD, UNI, USDC, VET, WRX, XLM, XMR, XRP, XTZ, ZEC, USDT, FRONT, STRAX, ONE, EGLD and SXP.

Binance Pay transactions are usually confirmed instantaneously. However, please note that due to compliance requirements, funds made to your Pay wallet account can only be utilized 24 hours after it has been received.

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Binance Crypto News NFTs

Binance NFT Marketplace To Launch With Celebrity Creators: eStarPro, Michael Owen, Lewis Capaldi And Others

Leading cryptocurrency exchange, Binance has unveiled the first batch of the “premium event” creators for its non-fungible token (NFT) marketplace ahead of its June 24 launch. The list includes celebrities in diverse industries, including music, sports, and art.

The lineup of Binance NFT Content Creators

Following the announcement on Thursday, the first batch of creators includes Esports team eStarPro, two-time BRIT Award winner Lewis Capaldi, top professional football stars Michael Owen and Alphonso Davies, and visual artist.

The NFT collection by Lewis Capaldi will be made available through Bondly on Binance NFT, while Michael Owen’s NFT collection will be made available through TopGoal and eStarPro Esports club NFTs exclusively through NFKings Productions.

Binance wrote

Binance NFT Marketplace Launches Next Month

Binance NFT marketplace is coming at a time where interest in NFTs is skyrocketing. As Crypto News Australia reported in April, the exchange initially disclosed its intention to launch an NFT marketplace following the increase in interest and trading volume for NFT contents.

The marketplace is scheduled to launch on June 24 and will feature content from both celebrities and small value creators, according to Changpeng Zhao, the CEO of Binance. At the time, the Head of Binance NFT, Helen Hai, informed that the Binance NFT marketplace would allow issuing and selling of NFT contents at minimal fees.

Our aim is to provide the largest NFT trading platform in the world with the best minting, buying, and exchanging experience by leveraging the fastest and cheapest solutions powered by Binance blockchain infrastructure and community.

Helen Hai commented
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Binance Binance Coin Cardano Crypto News Cryptocurrencies Dogecoin

Binance BNB Crypto Nikes Custom Designed By A Creator

Nevertoolavish, a “custompreneur” based in Jakarta, has made limited-edition hand-painted sneakers for crypto enthusiasts.

Although many custom pairs of kicks are simply colour changes, some are made by artists who change plain white into elaborate designs and dreamy sketches – or into crypto fashion statements.

Slip Into Your HODLing Shoes

The pairs were overall met with enthusiasm by potential buyers.

Aside from these BNB-themed shoes, custom AF1s are available for fans of Bitcoin, Dogecoin, Cardano and others. A pair of these will set you back around 445 AUD (excluding shipping and other fees) according to the product page on Tokopedia (only for Indonesian customers).

As mentioned on Twitter, international customers have to inquire Nevertoolavish directly. However, their Twitter profile cannot be direct-messaged so you might need to contact them via WhatsApp (numbers provided on Twitter profile). There is also a LinkTree page with more resources.

Not Only Shoes, NFTs Too

In addition to selling custom shoes and other clothing items, Nevertoolavish also sells NFTs, created through the same thought process used to give solid colour shoes a fresh coat of paint.

Although crypto fashion has been around for a while, it’s mostly been limited to virtual pieces. There have also been notable exceptions, however, such as SwapPay – an Aussie Cryptocurrency for Fashion made specifically for the fashion industry. Some big brands seem to be aware of this niche, indeed Nike holds a patent for blockchain-based sneakers.

Now, however, you can show your love for crypto by wearing an eye-catching fit.

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Binance Crypto News Market Analysis Swyftx Trading

Polygon (MATIC) Just Surged +118% in a day as Dotmoovs is scaling with Polygon

polygon dotmoovs
polygon dotmoovs https://twitter.com/0xPolygon/status/1396851361044582405/

Polygon (MATIC) is trading in an uptrend, like many other altcoins. The cryptocurrency MATIC just went up +118% in a single day by breaking a falling wedge pattern with strong buying volume and surges over +145.23% in a week.

What is MATIC?

Polygon (previously Matic Network) is one of the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building multiple types of applications.

Polygon effectively transforms Ethereum into a full-fledged multi-chain system (aka Internet of Blockchains). This multi-chain system is akin to other ones such as Polkadot, Cosmos, Avalanche, etc. with the advantages of Ethereum’s security, vibrant ecosystem, and openness.

MATIC Price Analysis

At the time of writing, MATIC is ranked 13th cryptocurrency globally and the current price is $2.41 AUD. This is a +145.23% increase since 18th May 2021 (7 days ago) as shown in the chart below.

Source: TradingView

After looking at the above 2-hour candle chart, we can clearly see that Matic was trading inside the falling wedge pattern on the MATIC/USDT pair. The first resistance was on the $1.90 AUD price levels which MATIC broke with a strong bullish trend buying volume and is now heading towards the all-time high price in AUD. Seeing that many altcoins are holding a strong position this week after the recent bitcoin crash recovery, MATIC might continue to increase in the uptrend if the traders keep buying with high volume.

“The Falling Wedge is a bullish pattern that begins wide at the top and contracts as prices move lower. This price action forms a cone that slopes down as the reaction highs and reaction lows converge.”

Source: TradingView

What Do The Technical Indicators Say?

TradingView indicators for MATIC

TradingView indicators (on the 1 day window) mainly suggest MATIC as a strong buy, except the Oscillators which indicate MATIC as a neutral.

So Why Did Matic Breakout?

General market sentiment seems to suggest cryptos are hopefully turning back bull run season after recent massive price corrections. Another reason for this sudden pump in price could be whales secretly buying MATIC for the next Altcoins rally. Recent news also announced exciting development involving Polygon.

Investors are taking a deep interest into Polygon. Its unique model, success in drawing users from larger blockchains, and high-and-growing market capitalization make it a safer bet for buyers. Growth seems very likely. But, at what rate the token will grow is a point of contention among analysts.

Where to Buy or Trade Matic?

MATIC has high liquidity on the Binance exchange which could help for trading MATIC/BTC or MATIC/USDT pairs. Instead, if you’re looking at buying and HODLing cryptos, then Swyftx Exchange is a popular choice in Australia.

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3 Coins that Might Breakout this Week: REEF, SFUND, SOL – Altcoins Trading Analysis

candle bars graph
candle bars graph https://unsplash.com/photos/ZzOa5G8hSPI

In today’s trading news, we’re looking at three Altcoins that might breakout this week by showing bullish trends in the charts.

1. Reef Finance (REEF)

Reef is a DeFi platform built on Polkadot that aims to deliver cross-chain trading. A yield engine and a smart liquidity aggregator are among the project’s offerings. Reef aggregates liquidity and provides automation. It also aims to address the drawbacks associated with existing trading platforms. While centralized exchanges are prone to security breaches, decentralized rivals can lack liquidity and are often difficult to use.

REEF Price Analysis

At the time of writing, REEF is ranked 128th cryptocurrency globally and the current price is $0.03093 AUD. Let’s take a look at the chart below for price analysis.

Source: TradingView

After a nearly three-month period of distribution, REEF has dropped to the 79% retracement of its candle-bodied range. With the price at a steep discount relative to its trading range, buyers hunting for a deal could see an opportunity.

The consolidation low near $0.02538 AUD has provided support. However, the multiple equal lows may attract a stop run before any significant break to the upside.

If the price sweeps these lows, the daily gap beginning near $0.02165 AUD could cap its downward movement. Strong bearish momentum may propel the price into the consolidation near $0.01870 AUD.

Layered resistance rests overhead, with $0.03525 AUD possibly providing a ceiling to the first bullish impulses. A move through this level may find some resistance near $0.03918 AUD, while $0.04478 AUD could form the roof until a new bullish trend emerges.

2. Seedify.fund (SFUND)

Seedify.fund is a blockchain innovation ecosystem, with a community-driven Seed Stage Fund, Decentralized Incubator, and Launchpad. Seedify.fund cross-bridges a community-driven DAO with an incubator/seed fund to provide seed investments to projects selected by community votings.

SFUND Price Analysis

At the time of writing, SFUND is ranked 877th cryptocurrency globally and the current price is $2.76 AUD. Let’s take a look at the chart below for price analysis. Note: this chart is on the pair SFUND-BNB.

Source: TradingView

SFUND‘s five days of glory culminated in eleven days of bullish despair as the price plummeted nearly 75% from its highs.

The explosive pump left little bullish support below, with $1.95 AUD providing an area to look for buying on the daily chart. A test of this level could reach possible support near $1.80 AUD, which marks the approximate midpoint of the four-hour chart’s consolidation that preceded the pump.

However, the final bottom may emerge below $1.52 AUD, where a nine-day consolidation suggests the bulk of the buying took place.

The lower half of the upcandle at $2.80 AUD may provide resistance, with a pump through this level possibly letting trapped buyers out near $3.25 AUD.

A burst of bullish energy could reach as high as the daily gap near $4.75 AUD. However, this doesn’t seem likely to occur unless market conditions become more bullish.

3. Solana (SOL)

Solana is a highly-functional open source project that banks on blockchain technology’s permissionless nature to provide decentralized finance (DeFi) solutions. The Solana protocol is designed to facilitate decentralized app (DApp) creation. It aims to improve scalability by introducing a proof-of-history (PoH) consensus combined with the underlying proof-of-stake (PoS) consensus of the blockchain.

SOL Price Analysis

At the time of writing, SOL is ranked 18th cryptocurrency globally and the current price is $38.51 AUD. Let’s take a look at the chart below for price analysis.

Source: TradingView

The -67% finale to SOL‘s nearly month-long distribution calls “Solana Summer” into question. However, the coin has often shown strength during the crypto market’s bearish microcycles.

The recent sweep of the $28.03 AUD low into support starting near $29.50 AUD could be all bulls require before some upward movement.

Just below, a monthly gap at $26.55 AUD might provide support on a sweep of last week’s low, although the price may pierce through this gap. If the crypto market stays bearish, the price might visit the consolidation lows and support near $16.44 AUD.

Trapped bulls looking for hedges or exits could be selling near the swing low and daily gap starting near $41.25 AUD. A higher bounce might find more resistance around $48.91 AUD, near the midpoint of an upcandle and the distribution range’s swing low. Beyond these two resistances, the zone near $55.36 AUD might mark the top until a new bull cycle.

Where to Buy or Trade Altcoins?

These 3 Altcoins have high liquidity on Binance Exchange so that could help with trading. Instead, if you’re looking at buying and HODLing cryptos, then Swyftx Exchange is a popular choice in Australia.

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Binance Crypto News Market Analysis Ontology Swyftx Trading

ONG Surges +500% In a Week as Ontology Introducing ONT staking with 90% APY

Ontology (ONG) has been trending upwards recently, unlike most of the other coins which have been going downwards. The Cryptocurrency ONG just went up +500% in a week by breaking a Rising wedge pattern with strong buying volume and surges over +800% in 30 days.

What is Ontology?

Ontology is a high-performance, open-source blockchain specializing in digital identity and data. Ontology’s infrastructure supports robust cross-chain collaboration and Layer 2 scalability, offering businesses the flexibility to design a blockchain that suits their needs. Ontology adopts a dual-token model, with both ONT and ONG as utility tokens. Ontology decouples ONT and ONG to alleviate the risk of turbulent fluctuations of the native “asset” value on the gas fee.

ONG Price Analysis

At the time of writing, ONG is ranked 126th cryptocurrency globally and the current price is $1.80 AUD. This is a +500% increase since 15th May 2021 (7 days ago) as shown in the chart below.

Source: TradingView

After looking at the above 1-day candle chart, we can clearly see that ONG broke out from the rising wedge pattern on the ONG/USDT pair. The first resistance was on the $1.10 AUD price levels which ONG broke with a strong bullish trend & buying volume and is now heading towards the next resistance. ONG could continue the uptrend whereas many other altcoins are bearish this week due to Bitcoin’s recent crash.

“A rising wedge is a technical indicator, suggesting a reversal pattern frequently seen in bear markets. This pattern shows up in charts when the price moves upward with pivot highs and lows converging toward a single point known as the apex. […] This pattern has a familiar look to a bear flag.” – Larry Swing on Investopedia [source]

What do the Technical Indicators say?

The ONG TradingView indicators (on the 1-day window) mainly indicate ONG as a buy, except the Oscillators which indicate ONG as a sell.

Why did ONG Breakout?

General market sentiment seems to suggest cryptos are in the middle of the bull run season, which could have contributed to the recent breakout. Another reason for this sudden pump in price could be whales secretly buying ONG for the next Altcoins rally. It could also have contributed to some of the recent news from Ontology introducing $ONT staking with >90% APY.

While ONT is the network’s “primary token,” ONG is used for on-chain services like transactions or paying for the deployment of smart contracts.
ONG tokens are also released to ONT token holders in amounts relative to their holding ratio to encourage ONT staking.

Where to Buy or Trade ONG?

Ontology ONG has high liquidity on Binance exchange so that would help for trading ONG/BTC or ONG/USDT pairs. However, if you’re just looking at buying some quick and HODLing then Swyftx exchange is a popular choice in Australia.

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Binance Crypto News Hackers

Flashloan Exploit On Binance’s PancakeBunny Leads to $45 Million USD Drained

An economic exploit on PancakeBunny’s decentralised finance (DeFi) protocol was used on Wednesday which saw the attacker drain $45 million USD from the ecosystem.

How Did The Attack Happen?

According to the post-mortem analysis of the attack published by bunny, the attacker:

  • The exploiter staged (and exited) the attack using PancakeSwap (PCS)
  • By exploiting a difference in PCS pricing, the hacker intentionally manipulated the price of USDT/BNB and Bunny/BNB, acquiring a huge amount of Bunny through the use of Flash Loans.
  • The exploiter dumped all the Bunny in the market (Ethereum), causing the price of Bunny to plummet
  • The exploiter then exited the attack by paying back the remaining BNB (by having exploited the price difference from before) on PCS.

Flash loans allow anyone to borrow an unlimited supply of funds without providing any collateral as long as they pay back the sum in the same transaction.

Bunny price plummets after the executed exploit [poocoin]

The attack pumped the price of BUNNY from $150 to $240 before plummeting to $0 in just 30 minutes. No vaults were compromised in the event, with the main issue being the driven down price affecting all investors.

Moreover, we are committed to providing a solution by which we can restore the value lost by our community and restore their confidence in the project.

Bunny Finance

Increased Attacks On DeFi

In April, crypto data aggregator Messari reported that flash loans had become the most popular attack vector in the DeFi ecosystem, accounting for roughly half of the $285 million worth of DeFi exploits identified on the Ethereum DeFi-market since 2019.

Attacks on other DeFi protocols:

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Australia Binance Binance Australia Crypto News Trading

Binance Lite Provides Australians With Easy Bitcoin Trading

Binance Lite transforms your Binance mobile app into a simplified, easier to use interface for beginners who are entering the crypto space to buy, sell and trade Bitcoin and cryptocurrencies using their mobile.

Getting started with cryptocurrency trading can feel daunting when faced with a long list of possibilities and options. Switch to the Lite version of the Binance app for a simplified crypto trading experience!

Binance is one of the largest crypto exchanges in the world and have established themselves in Australia as Binance AU to help you take your crypto mobile experience to the next level.

Binance Lite Features

  • Beginners guide link at the top of mobile screen
  • Simple Buy, Sell, Deposit, Convert Button at bottom of mobile screen
  • Clear to see account balance and coin holdings
  • Easy to find all your favourite cryptos with the star button
  • Easy deposit and withdraw buttons
  • Less “noise” as it hides all the advanced features such as Futures, Launchpad, Liquidity, Battle, Earn etc
Binance Pro vs Binance Lite

How to Get Binance Lite

  1. Download the Binance App on your Android or iOS device.
  2. Log in to your Binance account.
  3. Click the profile icon located on the top left corner of the Binance App home screen.
  4. Tap the “Lite” switch and you’re done.

Binance Lite Mobile App User Interface

  • Binance Lite Home Screen
  • Buy Sell Trade Deposit
  • Buy Crypto Method
  • Buy Crypto Amount
  • Buy Crypto
  • Account Balance

Please note that Binance Lite is only available for the mobile app, there currently is no version of Binance Lite for desktop computers.

Also read: How to Deposit AUD into Binance Australia via PayID/Osko

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Binance Crypto Exchange Crypto News Cryptocurrency Law Cryptocurrency Tax

Binance Crypto Exchange Under DOJ Investigation To Target Money Laundering And Tax Evasion

Operation “Hidden Treasure” was initiated by the Internal Revenue Service (IRS) and Department of Justice (DOJ) on Thursday in an effort to uncover the unreported crypto income of U.S. citizens and other illegal activities taking place on the platforms.

The IRS has recently started investigating various crypto platforms to try to discover illicit activities, ramping up its crypto-related auditing and guidance for individuals that own and trade cryptocurrency.

Chainalysis, a blockchain forensics firm whose clients include U.S. federal agencies, concluded last year that among transactions that it examined, more funds tied to criminal activity flowed through Binance than any other crypto exchange. The firm tracked Bitcoin worth $2.8 billion USD that moved on to trading platforms in 2019. Chainalysis determined that roughly 27%, or $756 million, has been hidden on Binance. The exchange has assured regulators that they have done as much as possible to stay within the current regulatory framework.

As recently reported by Bloomberg, the Commodity Futures Trading Commission (CFTC) is also probing Binance (not registered with CTFC) to find out if it allowed U.S. residents to trade derivatives. The CFTC previously filed a civil lawsuit to halt the U.S. commodity derivatives business of BitMEX, which is one of the world’s largest cryptocurrency derivatives exchanges. Exchanges are now, more than ever, under regulatory scrutiny.

The repercussion on Bitcoin price

Bitcoin (BTC) losses accelerated Thursday after Bloomberg reported the Binance investigation.

Many of the top cryptocurrencies dropped in price, down double digits. Bitcoin fell 10% after the news, continuing the negative run it experienced after Tesla announced it would stop accepting Bitcoin as payment for their vehicles.