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Binance Expands Support For BNSOL After Listing, Here’s How To Stake

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Crypto exchange Binance on Thursday again issued an important announcement surrounding the staked SOL token on the exchange, BNSOL. The crypto exchange revealed that it is now adding the staked token on ‘Earn, Convert & Margin,’ enhancing trade offerings for users. These enhancements follow the token’s recent listing on the same exchange, echoing optimism for the crypto’s long-term perspectives.

Binance Enhances Offerings For Staked SOL

As per an official Binance announcement dated October 10, BNSOL is all set to be added on Earn, Convert, and Margin platforms today. Simple earn and flexible products for the token will be listed on ‘Simple Earn’ today at 08:00 UTC and will thereafter be available for subscription. Simultaneously, users will be able to trade the asset against BTC, USDT, and other tokens on ‘Convert’ at zero trading fees within one hour of the asset’s listing on the spot trading platform.

Additionally, the staking crypto will also be added to Cross and Isolated Margin along with SOL pegged pairs on October 14 at 08:00 UTC. These enhanced offerings, after the exchange recently revealed listing for the token, have reverberated optimism among market participants globally. CoinGape Media reported earlier that with Binance’s backing, BNSOL secured listing, sparking considerable optimism across the broader market.

How To Stake SOL?

Meanwhile, the crypto exchange also rolled out three ways for users to stake their SOL on the platform. One can easily go to the ‘SOL pledge’ section on the ‘financial management’ page and achieve staking. Further, users can also get the staked token by pledging SOL in the Binance Web3 wallet. Lastly, users can directly recharge the staked Solana token into their accounts, the announcement added. All new and old token holders are eligible to enjoy up to 10% APR during the promotion period.

Simultaneously, BNSOL price rested at $139.5 at press time, down nearly 3% in the past 24 hours. Similarly, SOL price traded at $139, noting a 2.5% decline at press time. Nevertheless, the listing plans have garnered significant attention to the staking token. It’s also worth noting that the token represents staked SOL and income collectively in a tradeable and transferable form on the exchange.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Everything You Should Know About Binance Traders League

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1 hour ago

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October 10, 2024

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One of the popular cryptocurrency service providers in the world has launched the ‘Binance Traders League.’ This is believed to be the most interesting crypto trading event of 2024 and is focused on enhancing investors’ trading experience through challenges and adequate rewards. Binance is one the largest & popular crypto exchanges with over 230 million users and has begun this trading league to appreciate and reward the same crypto community.

Talking of rewards, a crypto trader made $3.37M in profits after his Popcat holding grew twice within a month.

Binance Traders League Launched With $10M Price Pool

Over the years, Binance has introduced many things to make crypto trading more accessible for investors. In one such step, they have launched the Binance Traders League with a $10M prize pool. More importantly, they have designed this league in a way that people of different experiences can come together and enjoy it.

This Binance Traders League is divided into two regions. One has already gone live and will run for 20 days, whereas the second part will start later. As per the Binance news, traders with all skill levels can join and complete solo or team-based challenges.

Even the Binance CMO, Rachel Conlan, has expressed her views on this Binance Traders League, saying that it is their mission to provide more accessibility and exciting opportunities for crypto investors. More importantly, the people will get to learn, grow, and even earn significant rewards from this $10 Million prize pool.

Interested participants can join these league challenges by achieving a minimum TV (trading volume) of $500. More importantly, it is available for all crypto traders, including the regular and VIP (levels 1-6). All these users can join and earn rewards with various eligibility criteria, including Return on Investment (ROI), Profit and Loss (PnL), and Trading Volume.

Two Main Competitions of Binance Traders League

As per the official Binance announcement, this crypto trading league will facilitate two main competitions, the Spot Traders League and the Futures Traders League. The $10M prize pool is between these two, where each has different challenges and rewards.

The Spot Traders League is live with a prize pool of $3 million BNB vouchers. Additionally, the best performers can access another $1.5 Million worth of BNB. This also has a bonus task that can make another $200,000 USDC, where the players will have to explore Spot Copy Trading and crypto Trading Bots.

Finally, this league has already begun and will run from October 8 to 28. Here, the participants will be ranked on their total ROI percentage and trading volume percentage.

Binance Traders LeagueBinance Traders League

The second is the Future Traders League, with a prize pool of USDT vouchers worth $7 million. The players can choose to play either Solo or in teams in this category. However, it is important to note that the schedule varies for each category. The Solo trading challenge has already begun since October 8 and will be live till October 28. However, the team crypto trading will begin on October 17 and run until November 6, 2024.

Here, one more important element is that the user can share an additional $700,000 prize pool if they are first-time futures trading.

Final Thoughts

With the Binance Traders League, the exchange has offered a unique trading opportunity. Basically, the traders of all levels can come together, participate in various challenges, and earn up to $10 Million in vouchers and other additional rewards. As per the Binance news, there are two main events in this Short and Futures trading league, each with different timelines, rewards, and ranking criteria, making it much more interesting. Besides, the market is also approaching the Uptober and Crypto market rally. So, this is another opportunity to take advantage of before turning entirely bullish. However, there are certain risks, so an crypto trader should participate in trading and such challenges wisely.

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Pooja Khardia

With a deep-seated passion for reading and five years of experience in content writing, Pooja is now focused on crafting trending content about cryptocurrency market.

As a dedicated crypto journalist, Pooja is constantly seeking out trending topics and informative statistics to create compelling pieces for crypto enthusiasts. Staying abreast of the latest trends and advancements in the field is an integral part of her daily routine, fueling a commitment to delivering timely and insightful coverage

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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BTC Slips Below $61K, Altcoins Tumble on PlusToken Related Selloff

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11 hours ago

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October 10, 2024

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The crypto prices on Thursday sparked a bearish sentiment among market watchers globally. Bitcoin (BTC) price slipped back to the $60K level over the past day, whereas Ethereum (ETH), Solana (SOL), and XRP traded dominantly in the red territory. This waning movement aligns with massive selloffs looming in the wake of the PlusToken scam.

Simultaneously, the global crypto market cap dipped 1.94% in the past 24 hours to $2.13 trillion. Also, the total market volume decreased 2.91% to $67.22 billion. Here’s a brief report on some of the top cryptocurrencies by market cap and their price movements today, October 10.

Crypto Prices Today: BTC, ETH, SOL, & XRP Plunge

The crypto prices today have illustrated a bearish movement in the past 24 hours, raising severe investor concerns globally. BTC price slipped to the $60K level today, whereas ETH, SOL, and XRP cracked 1%-3% in the past 24 hours. The slumping movement comes against the backdrop of sluggish flows in Bitcoin and Ethereum ETFs over the past day. Further, selloffs related to the PlusToken scam have added to bearish concerns and price movements. Also, altcoins have mainly mirrored the broader market trend. Let’s delve deeper into the top coins’ prices today.

Bitcoin Price Today

BTC price chart showcased a nearly 2% dip in value and is currently sitting at $60,852. The coin’s intraday low and high were recorded as $60,314.22 and $62,508.84, respectively. Today’s waning movement comes against the backdrop of $44.47 million outflows in Bitcoin ETFs as of October 9, per Sosovalue data at press time that excludes BITB. Further, even the flagship crypto’s market dominance slipped 0.16% over the past day to 56.59%. BTC’s market cap rested at $1.2 trillion today. Despite the recent buzz echoing with the HBO documentary on BTC creator Satoshi Nakamoto, the coin continues to consolidate.

Ethereum Price Today

ETH price illustrated a drop of over 2% in the past 24 hours and is currently trading at $2,395. The coin’s intraday low and high were recorded as $2,350.95 and $2,469.21, respectively. This slumping movement comes against the backdrop of $0 million net flows in Ethereum ETFs as of October 9, excluding ETHW data. Ethereum’s market cap rested at $288.30 billion today. Meanwhile, the Chinese government appears to be preparing for a massive selloff of 7000 ETH recently sent to exchanges, birthing additional concerns among market participants.

Solana Price Today

Simultaneously, the crypto SOL witnessed a 3% dip in value to reach $140. The coin’s intraday low and high were $137.85 and $144.17, respectively. Solana’s market cap stood at $65.72 billion today. The coin rides along a bearish trend in-sync with the broader market sentiment.

XRP Price Today

Meanwhile, XRP price slipped nearly 1% in the past 24 hours and is currently trading at $0.5272. The coin’s 24-hour low and high were $0.5219 and $0.5339, respectively. XRP’s market cap was recorded to be $29.87 billion today.

Meme Coins Prices Today

Dogecoin (DOGE) price witnessed a nearly 1% fall and is trading at $0.1079 today. Similarly, Shiba Inu (SHIB) price dropped over 2% in value today and is sitting at $0.00001711. In the interim, PEPE, WIF, and BONK prices cracked 3%-5% in the past 24 hours, in line with the broader market trend.

Top Crypto Gainers’ Prices Today

Conversely, some coins have also defied the broader market trend today.

First Neiro On Ethereum Price

NEIRO price soared over 5% in the past 24 hours and is currently sitting at $0.001784. Its intraday low and high were $0.001618 and $0.001912, respectively.

Uniswap Price

UNI price noted gains worth 4% in the past 24 hours and is trading at $7.40. The coin’s 24-hour low and high were $7.08 and $7.42, respectively.

UNUS SED LEO Price

LEO price jumped over 1% to reach $6.06 today. The coin’s intraday low and high were $5.92 and $6.18, respectively.

Top Crypto Losers’ Prices Today

Aptos Price

APT price dipped 8.5% over the past day and is now trading at $8.42. The coin’s intraday low and high were $8.38 and $9.38, respectively.

THORChain Price

RUNE price slipped nearly 7% over the past day and is now sitting at $4.63. Its intraday low and peak were $4.55 and $5.06, respectively.

FTX Token Price

FTT price fell 6% in the past 24 hours and is now trading at $2.18. Its intraday low and high were $2.12 and $2.34, respectively.

Besides, the hourly time frame charts sparked further concerns over the cryptocurrency prices today as BTC slipped by 0.14% and ETH by 0.08%.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Will AVAX Price Jump As Littio Bank Chooses Avalanche Over ETH?

Published

20 hours ago

on

October 9, 2024

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Littio, a Colombian neobank, has announced that its Yield Pots platform will no longer operate on Ethereum (ETH) but Avalanche (AVAX) This move is to meet increasing appetite for U.S. Treasury bills and to enhance efficiency in its transactions with its customers. This could mean an upsurge in the AVAX price as more users and projects come on the blockchain.

Littio Moves to Avalanche for Yield Pots

In light of the increasing need of investors to gain access to U.S Treasury bills, Littio has decided to transfer its Yield Pots platform from Ethereum to Avalanche. Yield Pots gives its customers the opportunity to earn interest on their US Dollar deposits through stablecoin backed products. 

In a statement, the company said that it had to expand and enhance the transaction processes due to increased users’ traffic, which necessitated the change.

Littio especially noted Avalanche’s low transaction fees and faster settlement times as the main reasons for choosing this platform. This transition will help Littio to continue providing its services more effectively and make it easier for clients to access the products that generate yield on real-world assets (RWAs), including U.S. Treasury bills.

Role of OpenTrade in the Transition

Littio’s link with OpenTrade, a London-based company, is a key factor in this change. OpenTrade’s offerings are yield-generation products that utilize stablecoins and other real-world assets such as U.S. Treasury bills. 

These RWAs are tokenized which means that the investors can acquire the exposure to the off-chain assets through the use of a blockchain.

Jeff Handler, the Chief Commercial Officer of OpenTrade revealed that Littio is the only Latin American neobank using OpenTrade’s vaults at the moment. Nevertheless, there are plans to onboard more clients before the year ends. He pointed out that the need for the USD-linked services, like payments and bank accounts, is rising throughout Latin America, and that is why stablecoin-based fintech solutions like those provided by Littio are in demand.

Avalanche’s Growing RWA Ecosystem

With its low-cost and high-speed blockchain, Avalanche has therefore become one of the leading platforms in real-world asset tokenization. The Avalanche Foundation has backed this by launching a $50m initiative to support RWA creation on its network. The move of Littio’s Yield Pots to Avalanche is considered a positive for the platform as it demonstrates its capacity to host institutional-grade financial products.

Morgan Krupetsky, the Head of Institutions and Capital Markets at Ava Labs stated that Avalanche is enabling the unbanked population in Latin America to access efficient and secure financial services. 

With moving to Avalanche, Littio wants to offer a better service to its customers especially those in countries with high inflation rates and devaluation of local currencies.

AVAX Price Outlook Amid Increased Adoption

With Colombian neobank Littio’s shift to Avalanche, AVAX could see a positive price movement due to growing demand for its blockchain. Since mid-2023, AVAX has shown a bullish pattern, with higher lows and a solid ascending support line. This pattern suggests that more buyers are entering the market after each pullback, increasing confidence in the asset. However, as of press time, AVAX price was trading at $26.16, a 0.30% decline from the intra-day high.

ImageImage

Source: X

Despite this, analysts have noted that if AVAX price can maintain its momentum above the key support line, it could see significant upside potential. Projections suggest it could experience gains of up to 138.74%, potentially reaching a price near $50 if the bullish trend continues.

This development comes at a time when Avalanche is gaining traction across several sectors. With more fintech platforms like Littio adopting Avalanche, AVAX could attract additional attention from investors, further boosting its price 

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Kelvin Munene Murithi

Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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